Moser brings enterprise knowledge and financial expertise to new role
ALEXANDRIA, VA – Armed Forces Benefit Association (AFBA), and its affiliate, 5Star Life Insurance Company (5Star Life), announced today that Michael R. Moser has been named Chief Distribution and Legal Officer, effective January 1, 2024.
“Michael has been a valued member of the AFBA and 5Star Life team for the past ten years. His thorough knowledge of our enterprise, along with his financial and legal expertise, will be an invaluable asset in his new and expanded role,” said General Larry O. Spencer, USAF (Ret.), President of AFBA and 5Star Life.
Moser joined the enterprise in 2013 bringing more than 15 years of experience in the financial services industry. Previously, he served eight years as Vice President & Chief Compliance Officer for the Fortune 500 company, the Western & Southern Financial Group, and eight years in ascending legal and compliance roles at Nationwide Mutual, a Fortune 100 company, where he assisted in strategy formation and market planning. Before his career in home office financial services, Michael practiced in law firms with a focus on business matters, worked as a strategy consultant to start-up entities, and as a financial planning services sales representative.
“I’m looking forward to contributing in this new capacity to our important mission of serving our members and hardworking Americans,” said Moser. “It’s humbling to have this opportunity to play a role in our growth as we find ways to even better serve those who rely on us to be there for their families in difficult times.”
With the support of the General of the Army, Dwight D. Eisenhower, the Armed Forces Benefit Association (AFBA) was established in 1947 in the basement of the Pentagon to ease the strain on military members and their families. At the time, they could not purchase life insurance that would pay a death benefit if the member was killed in combat. Today, headquartered in Alexandria, VA, AFBA continues to honor its mission, in war and peace, promoting the welfare of its members by providing survivor and other benefits to those who serve this great nation, including members of the uniformed services, first responders, government employees, and their families. AFBA has more than 920,000 members with $40 billion of death benefits in force and has paid nearly $2 billion of death benefits since inception. AFBA death benefits are primarily underwritten by its affiliate, 5Star Life Insurance Company (a Lincoln, Nebraska domiciled company). AFBA is not affiliated with any government agency.
About 5Star Life Insurance Company
5Star Life Insurance Company (5Star Life) is the primary underwriter of the Armed Forces Benefit Association (AFBA) member benefits and is also a growing provider of group and worksite voluntary products. Its business model enables 5Star Life to serve the needs of a diverse clientele as an insurance advisor to individuals and organizations and as a trusted partner to brokers. Headquartered in Alexandria, VA, 5Star Life is currently licensed in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and American Samoa.