Life Insurance Basics

What is life insurance?

Life insurance is a contract between you and an insurance company—you make payments to the insurance company and in return, the insurance company will pay a specified amount of money to your beneficiaries (spouse, dependents, and/or loved ones) upon your death. Essentially, a life insurance policy could be the only financial resource your spouse, children or loved one depend on when you aren't there to provide.

All life insurance plans have different attributes and factors that are taken into account when policies are written. Premiums are based on factors such as your age, gender, vocation, and/or medical history; some policies also require a paramedical examination. Some important factors to consider when deciding on a plan are: need, total cost of coverage, dependent coverage, monthly contribution amounts, and the length of time you will need coverage.

Why You Need Life Insurance

A life insurance plan should be a part of your future financial planning. Just like you take care of your loved ones now, they should also be taken care of in the event you are not around to provide. Life insurance policies allow benefits to be paid directly to beneficiaries to relieve the burden of significant expenses and allow for future financial stability.

If you fall into any the following categories, a life insurance plan could be a crucial piece in planning for your future:

I have a spouse.
I have dependents.
I provide for other loved ones.
I have a dependent parent or disabled loved one.
I own a business.
I have an estate.
I have a mortgage or multiple loans.

Why choose AFBA for your life insurance needs?

AFBA offers many life insurance products to suit your needs. Whether you are looking for an alternative to SGLI/VGLI, coverage for your spouse or children, or coverage for a specified period of time, AFBA can satisfy your needs—all with no war or terrorism clauses.

Customer Service

If you need more information regarding any of the life insurance products, please contact AFBA Customer Service or call us, M - F from 8:00am - 5:30pm EST at 1-800-776-2322.

Health Coverage Basics

Why do you need health coverage?

Millions of Americans go without health coverage every year, which can be a very risky decision - especially in the case of a sudden medical illness or injury. Going without health coverage can quickly become a risk that doesn't need to be taken. You and your family's health is important and a lack of health coverage can be financial and emotional strain.

Even with a standard medical plan, out-of-pocket expenses (including co-payments, cost shares, and pharmaceutical costs) can add-up quickly and become a financial burden. However, AFBA is here for you with short-term medical plans, college student coverage, and long-term care plans. Affordable piece of mind is here for you now and in your future.

Long Term Care Plans

As healthy adults, it's hard to imagine a chronic illness ever striking, causing the need for permanent, individual medical assistance for the daily activities we perform in our lives. In the case of a health condition or illness that causes cognitive or physical impairment, a long-term care plan would allow for assisted-living facility, home health care, nursing home requirements, and much more.

Having a Long Term Care plan provides you and your family with piece of mind and financial security that you will receive the right care in times of need. A chronic condition or permanent injury could happen in any one's future and even the most stringent of savings cannot always afford the care that is needed.

While planning for you and your family's future, let AFBA help. Through John Hancock Insurance, AFBA now offers Long Term Care plans to ensure you future medical needs will be met.

Long Term Care plans are ideal for:

Individuals who have assets to protect in the chance of a health tragedy (Medicaid will only pay beneficiary if insolvent).
If you are already planning for your future financial needs and your health is not currently a factor — plans should be chosen before it could become too late for coverage.

Customer Service

If you need more information regarding any AFBA health plan products, please e-mail or call toll-free at: 1-800-776-2322.

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