Surviving A Loss

Losing a loved one is one of the most devastating events one can experience in a lifetime. Along with the emotional trauma, there are often financial considerations that can affect those left behind for years to come.

At AFBA we understand that after the death of a loved one, handling financial concerns may be difficult. We've made it easy to understand your insurance coverage and where you stand financially so that you can manage your life without worrying about further loss.

Review our comprehensive Financial Planning Guide for information regarding finances and loss of life.

Charles C. Blanton AFBA Family Survivor College Scholarship Program

The financial hardships of surviving a loss are challenging enough without worrying about how your spouse or your children pay for college.

We are proud to offer the Charles C. Blanton AFBA Family Survivor College Scholarship. The scholarship is offered to the surviving spouse or children of an insured AFBA member who dies in a combat zone, as a result of combat action or whose life was lost as a result of acts of foreign or domestic terrorism.

Effective June 1, 2006, families of Emergency Service Providers are also eligible to benefit from the Charles C. Blanton AFBA Family Survior College Scholarship - The surviving spouse and children of Law Enforcement, Firefighters and Emergency Medical Service providers who are AFBA members and die while involved in operations at the scene of an "incident"* are eligible for this scholarship.

The scholarship provides an educational scholarship to candidates for an undergraduate degree of up to $10,000 per family, per year for a maximum benefit of $40,000 for tuition and fees.

*"Incident" is defined by AFBA as any event to which an Emergency Service Provider, that is, Law Enforcement, Firefighter or Emergency Medical Service provider, is dispatched or requires a "response" or action by them. Usually, these events involve situations where there is the "potential for loss of life."

Note: AFBA is solely responsible for awarding this scholarship and reserves the right to alter or close the program at any time.

Life Insurance

The primary goal of life insurance is to protect against loss and at AFBA we have more than 50 years of helping people manage their loss with our convenient, competitive life insurance products.

We understand that you have other worries during a time of loss, so our products are designed to help you pay the costs associated with loss of life as well as those that may arise in the near future. Within 24 hours after recieving notice of an insured's death, AFBA will mail an Emergency Death Benefit of up to $15,000 to the insured's beneficiary.

Our AFBA life insurance products carry no war or terrorism restrictions so you'll feel comforted knowing you and your loved ones are protected.

Health Plans

We understand that you may be concerned about your health benefits after your loved one has passed away.

Rest assured that your 5StarCare benefits continue for you and your children, even if your spouse dies. 5StarCare Plus offers a waiver of premium benefit for the remaining spouse and children until the spouse remarries or turns 65.

Investing for the First Time

No matter your age, now is always the right time to begin investing. Money earns interest over time, and the longer time you have to invest, the more financially secure you and your family will be.

Deciding how and where to invest your money for the first time can seem daunting.

The first steps are to identify your financial goals and develop a plan to reach them.

Review our comprehensive Financial Planning Guide, which offers step-by-step guidelines to help you get your current finances in order. Our guide will help you understand your options and plan for your financial goals and objectives.

Then, consider AFBA 5Star Funds variety of products designed to help you meet your investment goals at any stage in your life.

Mutual Funds

If you want a potentially higher rate of return, and are comfortable with a higher level of risk, mutual funds offer the option for managed investments to help you meet your financial goals and objectives.

Individual Retirement Accounts

If you want to save long term for retirement and want the added benefit of tax-deferred or tax free savings, 5Star Bank and AFBA 5Star funds both offer Traditional and Roth IRA accounts.

An IRA is a quality investment choice for long-term planning, providing you with options for periodic contributions of money that best fit your goals.

With long-term planning and consistent contributions to the fund, your IRA can provide financial security for you and your family upon retirement.

Banking

Savings Accounts

A secure, accessible location to earn interest on your money is a key part of any investment program.

Open your account with as little as $100 today and start building for a secure tomorrow. And, to ensure the security of your savings account, our deposits are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $100,000 per depositor.

Money Market Accounts

A money market account is a good option for saving if you want to receive a higher interest rate than a checking account, with limited check writing privileges, but still want to receive all the benefits of a savings account.

5Star Bank’s money market accounts offer competitive rates and access to your money when you need it.

Certificates of Deposit

If you prefer saving your money long term with a guaranteed return, 5Star Bank's Certificates of Deposit offer increasingly better interest rates based on the best term for you. Your CD interest is guaranteed for the term of the CD regardless of changing market conditions so you know your money will grow without constant supervision.

View your CD online, track earnings, and request quarterly statements. Interest is compounded daily and credited monthly. At CD maturity the principal or interest can be rolled over into a new CD, or transferred to another 5Star Bank account for convenience and flexibility. The choice is up to you.