Yes, if you own an AAFMAA Life Insurance Policy issued prior to February of the previous year in which you obtained it, you will receive an annual statement.

If you would like to change your beneficiary, just download the form under the Decision Center tab choose Beneficiary Designation Form. Print the Beneficiary Designation Form, complete, sign, date and either email it to [email protected], fax to 1-888-210-4882 or mail to 1856 Old Reston Avenue, Suite 200, Reston, VA 20190.

If you participate in the Career Assistance Program, your loan balance, as of the statement period, will be indicated on the bottom of your statement. For current information on loan balances, visit our Member Center, or contact AAFMAA Policy Services at 1-800-336-4538. You will also find your CAP Loan balance (as of the statement period) on the bottom of your Annual Statement.

You may access your Wealth Builder Life Insurance cash value any time by taking a policy loan, annuitizing the cash value, or surrendering your policy. If you choose to surrender your policy, you will receive all of your money back—both the premium paid and any interest earned. If you receive the funds before you are age 59½, you may have to pay a 10% tax penalty on the interest earned to the IRS. Alternatively, after holding the policy for 10 years, you may convert your Wealth Builder Life Insurance policy into a lifetime annuity payment. Additionally, at any time you may take a policy loan of up to 75% of the cash value in the policy.

Yes. Your Value-Added Whole Life Insurance policy is guaranteed over the life of the policy to earn a minimum crediting rate (specified in your policy) less charges for mortality and expenses. The initial death benefit is guaranteed for your life. Your premium is fixed and will never increase. Learn more about our Value-Added Life policy. 

Insurance policy loans (whole life policies only):

• Loan proceeds by First Class Mail: No charge
• Loan proceeds by USPS Priority Mail or FedEx: $7.00 (deducted from loan amount)
• Loan proceeds by USPS Express Mail: $20.00 (deducted from loan amount)
• Loan proceeds by electronic transfer (ACH or Wire): $10.00 (deducted from loan amount; Member’s bank may charge additional fees.)

Cash surrender of a whole life policy:

• Check by First Class Mail: No charge
• Check by FedEx: $7.00
• Check by USPS Express Mail: $20.00

Insurance claim settlements:

• Life annuity (for life, 10 years, 15 years or 20 years): No charge
• Interest only: No charge
• Lump sum by check: No charge
• Lump sum deposit by FedWire ($100,000 or more only): No charge (Member’s bank may charge additional fees)

Exercise of Long Term Care Settlement Option (LTCSO) (whole life policies only):

• Administrative Fee: $20 / month while LTCSO is in effect

Returned Checks:

• Returned check for insufficient funds: $25

All fees are subject to change without notice.

AAFMAA Mortgage Services may not be available in all states. AAFMAA Mortgage Services LLC is only available for the financing of residential property in the states of Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Nebraska, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, and Virginia. However, we are expanding to additional states, so be sure to check back with us soon.

There may be many benefits of owning your own home. Many people enjoy the flexibility and ability to decorate and remodel the home to their tastes and needs. You have a more permanent home than renting, and you can take advantage of potentially better schools for your children. There may also be tax advantages such as being able to deduct the interest on your mortgage – but be sure to check with your tax advisor. Instead of paying monthly rent, you pay down your mortgage balance over time to create equity in your home.

• Social Security Numbers for all borrowers;
• Copies of your checking and savings accounts for the past three months;
• Evidence of any other assets like stocks or bonds;
• Recent pay-stubs detailing your earnings and two most recent years W-2’s;
• For self-employed applicants: your two most recent annual tax returns (ask your AAFMAA Mortgage Services loan officer if you qualify for only having to provide one tax return)
• Evidence of Pension or Social Security income;
• List of all credit card accounts and the approximate balance and monthly payment amounts*
• List of loan account numbers and the approximate balance and monthly payment amount*

*AAFMAA Mortgage Services will pull your credit and auto-populate the application with your liabilities. So, if there are any missing liabilities it is your responsibility to review the application and inform your loan officer right away.

The interest rate is the cost to borrow the money disbursed in the loan, also known as the coupon. The APR, or Annual Percentage Rate, is the total cost of the loan over its life, including all costs, points and fees.

AWM&T is a state-chartered trust company that provides financial planning, investment management and trust services to the American Armed Forces, whether active duty, retired or veterans.

AWM&T is a not-for-profit, tax-exempt organization wholly owned by AAFMAA. Our net income above expenses returns to AAFMAA and ultimately back to our Members. We only serve military clients and promise you that you’ll always have a personal contact with us — never a call center.

The fee for a comprehensive financial plan is $3,500. We provide financial planning services on a “fee only” basis; there is no obligation or expectation that any of the plan recommendations be executed through AAFMAA or any of its affiliates, although you are free to do so if you wish.

Accounts do not have to be trusts to receive investment management services.  We provide investment management for both taxable and non-taxable (IRA, Roth) investment accounts.

All AWM&T client assets are held by an independent custodian, Northern Trust. Your money is never commingled with other assets, assets of AWM&T, or those of AAFMAA. Northern Trust currently has custody of over $6.1 trillion in assets. In addition ,assets have the backing of AAFMAA.

We have three offices across the United States. If you are in the Fayetteville, NC, area, please call us at 910-307-3500. In the Washington, DC, area, call our Reston, VA, office at 703-707-8020. You can also contact us anytime toll free at 1-800-522-5221, or by email at [email protected].

Yes, we use SSL to encrypt all of the data that is transmitted from your computer to the server.

All of documents you have uploaded to your AAFMAA Digital Vault are kept safe, secure, and private.
 
More specifically, AAFMAA complies with the Federal Information Security Management Act (FISMA) and has established security measures in our application environments. We impart controls into the IT systems lifecycle to ensure the confidentiality, integrity, availability, and non-repudiation of information. Data is safeguarded using industry standards and best practices. Data classification and retention programs are in place and applied encryption techniques are used. AAFMAA extensively utilizes Secure Sockets Layer (SSL) and security software, protocols and devices within the operational infrastructure to provide protection to AAFMAA websites, systems and data.

You become a member of AAFMAA when you purchase one of the following: a life insurance policy, Wealth Management & Trust services or a mortgage to buy, build or refinance a home. 

Your AAFMAA Membership number (or customer number) is written on your membership card. It is also the first 4-6 numbers of your insurance policy. If you need assistance, please call us toll-free at 1-800-336-4538, weekdays from 8:30am to 5:30pm, ET. Or, speak with an AAFMAA Membership Coordinator toll-free at 1-877-398-2263 between 5:30pm and 7:00pm, ET.

Your policy number is provided on your Certificate of Insurance, which you received upon approval of your application. It’s also located on your Annual Statement.

You must have an email address to access our online Member Center. We use it to communicate changes and updates to your account information. You will use it to log in to your AAFMAA account.

The customer number is also referred to as your "member number.” It’s provided on your Membership Card you received when your initial policy was issued. It’s also the first 4-6 numbers of your insurance policy. The customer number contains numbers only. For example, policy number 123456-1 would have a customer number of 123456 – no dashes and no extra numbers.

Individuals in the following groups are eligible to access AAFMAA products, services, and benefits:

All ranks of Army, Marine Corps, Navy, Air Force, Space Force, and Coast Guard, including:

• Active Duty (or within 120 days after separation)
• Guard or Reserve (full- or part-time)
• USMA, USNA, USMMA, USCGA, and USAFA Cadets or Midshipmen
• ROTC Contract/Scholarship Cadets
• Military Retirees
• Veterans, residing in specific states*
• Current and retired members of the uniformed services
• AAFMAA Members' children at any age, as well as their grandchildren up to age 26

*In the following states/territories, AAFMAA is only able to issue policies to current servicemembers, military retirees, and their spouses: DC, MS, NJ, NY, UT, WA, and WI. Subject to other terms and conditions.

Cyberattacks have been on the rise, and changes brought on by the pandemic have opened the door to additional security risks. AAFMAA continues to stay vigilant in this ever-changing environment. Protecting AAFMAA Member accounts and other sensitive information is one of our top priorities. We employ multiple layers of security in our Member Center and on our website. Our Information Security Team regularly reviews and verified that all online services through which we enable access to your accounts are not susceptible to online threats.

In addition to our aggressive cybersecurity protection measures, we advise and encourage you to:

• Change your passwords regularly.
• Use strong passwords for your online accounts. Strong passwords use a minimum of eight characters, upper-case and lowercase letters, numbers and permitted symbols.
• Do not use the same password for access to all of your online accounts such as on gaming sites, social networks or other sites with controlled access.
• If you have inadvertently used the same password on multiple sites with similarly restricted access, take a moment to change your password now.
• Protect all your computers, mobile phones and tablets by installing malware detection software for virus detection and firewall protection.
• Keep the operating system of your devices up-to-date.

Additionally, AAFMAA has recently enhanced its security efforts to guard against new and emerging cyberthreats by:

• Protecting of the network with updated security including updated firewall and VPN software, multi-factor authentication, and threat detection.
• Implementing Endpoint Detection software for all AAFMAA computers.
• Updating backup and restore technologies with data securely stored in several places and improved abilities to restore data quickly.
• Establishing data classification, separation and access control countermeasures.

Sometimes it’s called “two-step verification” or “multi-factor authentication.” Either way, two-factor authentication adds a deeper level of security when you log into the AAFMAA Member Center, helping to protect the data and other information stored there. It is called “two-factor” because it adds a second layer of security by delivering a secondary passcode to an email address or phone number that has been previously verified as belonging to you. That passcode must then be entered on the Member Center in addition to your standard password, in order to access the site.

Protecting you is what AAFMAA is all about. By adding two-factor authentication to your login process, we can help better ensure no bad actors are able to access your personal information through the Member Center.

The new login process will be nearly as fast as it has always been. It simply has one more step added in.

Once an authentication code is sent to either your email or phone, you will have 10 minutes to use it to log in. The code expires after 10 minutes and you will have to re-initiate the authentication process if you do not enter it within that time.

From now on, you will need to enter a new authentication code each time you log into the Member Center. At login, you will be asked to select “email” or “text” to receive an authentication code for your new session. You may opt out of two-factor authentication at any time in your Account Settings under the My Profile tab.

Yes. However, for your security, we don’t recommend it. Should you want to remove the authentication process from your login experience, you may do so any time by changing your preferences in the Member Center. Just follow the “Disable” instructions you see there. Please note that all AAFMAA Members are required to use two-factor authentication to log into the Member Center the first time they log in following deployment of this new security protocol.