Term life insurance is designed
to provide affordable, low-cost
financial protection for the fam-
ily for a specific period of time,
in the event that the breadwin-
ner dies prematurely. It is a good
choice for younger families who
have long term financial obliga-
tions but have limited assets.
Association group term insur-
ance is term coverage that was
developed for a specific group
of people, such as members of
the military and federal civilian
communities. Founded in 1956,
MBA is one of the nation's largest
nonprofit associations offering in-
surance plans and other valuable
membership benefits to military
service members and federal ci-
vilian employees.
Military service members join
MBA for its excellent insurance
plans, separate spousal coverage
up to $250,000, child coverage
options and for the financial and
lifestyle benefits MBA member-
ship offers. Military retirees,
honorably discharged veterans,
federal civilian employees and
their spouses are also eligible to
join.
The life insurance, underwrit-
ten by Government Personnel
Mutual Life Insurance Company,
allows members to retain and ad-
just their coverage when they re-
tire or leave government service.
In addition to attractive life
insurance options, MBA offers a
selection of valuable benefits to
promote the economic interests
and improve the quality of life of
our members and their families:
Discounted auto and home
insurance from Liberty Mutual;
MBA Scholarship Program
awards five $2,000 scholarships
annually to dependent children of
members;
MBA's Goldshield Benefits
program offers discounted travel,
medical, legal, and telecounsel-
ing services;
USBank Visa credit card
with no annual fee;
Hertz Corporation offers dis-
counts on car rentals;
VALoans.com provides ex-
pert assistance in obtaining VA
home financing and other mili-
tary benefits.
MBA stands by its commitment
to provide members with reliable
life coverage.
Since March 2003, MBA has
paid over $23 million to the
families of members who died
in military hostilities in Iraq and
Afghanistan. While saddened by
the loss of life, we are grateful to
have provided family financial
security as our fallen members
intended.
If you would like more informa-
tion about MBA, please visit our
Web site www.militarybenefit.
org or call us at: 1-800-336-0100.
--Information
courtesy of MBA
Saturday, August 8, 2009
MBA: Term life for military members
Annuities can serve many use-
ful purposes.
If you are in a saving-money
stage of life, a deferred annuity
can:
Help you meet your retire-
ment income goals. Employer-
sponsored plans such as a 401(k),
and 403(b) are an important part
of planning for retirement. How-
ever, contributions to these plans
and to IRAs are limited, and they
might not add up to enough for the
retirement income you need, es-
pecially if you started saving for
retirement late or had contribu-
tions interrupted--perhaps due to
job changes and/or family respon-
sibilities. Moreover, your social
security and defined-benefit pen-
sion (if you have one) may provide
less than you need to retire.
Help you diversify your in-
vestment portfolio. Fixed annui-
ties, in particular, offer a unique
asset class: an investment that is
guaranteed not to decrease and
that will actually increase at a
specified interest rate (and, often,
potentially more). The guarantees
are supported by the claims-pay-
ing ability of the insurer.
If you are in a need-income
stage of life, an immediate annu-
ity can:
Help protect you against out-
living your assets. Social security
paysretirementincomeforaslong
as you live, as do defined-benefit
pension plans. But the only other
source of income available that
continues indefinitely is an imme-
diate annuity.
Help protect your assets from
creditors. Generally the most that
creditors can access is the pay-
ments from an immediate annuity
as they're made, since the money
you gave the insurance company
nowbelongstothecompany.Some
state statutes and court decisions
also protect some or all of the pay-
ments from those annuities.
--Insurance
Information Institute
When to
consider
annuities
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