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Value-Added Whole Life

Simple choice for life's uncertainties

  • CheckmarkPremium never increases
  • Checkmark$5,000 increments from $10,000 to $1,000,000
  • CheckmarkLong-term care settlement option included
  • CheckmarkMembers, Military Servicemembers, Member spouses, Children and Grandchildren

About This Plan

What Is Included?

  • Crediting rate currently at 5.0% for 2024 (NOT guaranteed, subject to change)
  • Permanent coverage – stays with you for life
  • Never re-apply or re-qualify
  • Builds cash value
  • Premium never increases
  • Long-Term Care Settlement Option included for no additional premium

Who Is It For?

  • Members (up to age 80):
    • Active Duty, National Guard, or Reserve
    • Veteran
    • Retired
  • Member spouses & children up to age 80
  • Grandchildren under 24 years old
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Common Questions

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. 

Yes, AAFMAA offers a single premium payment option upon approval and that lump sum becomes the base of your cash value. Your death benefit and cash value will keep growing over the years. However, we don’t recommend this option if you intend to borrow money from the cash value in the future because you will have to pay taxes and, if you are under the age of 59½ when you borrow, you will also have to pay a 10% penalty to the IRS.

The beneficiary will only receive the death benefit. The cash value is money that is available to the insured while the insured is still living. The insured can borrow up to 75% of the cash value or can cancel the policy (as described above) and get 100% of the cash value or premiums paid, whichever is greater. Learn more about Beneficiaries.