For AFA and AFAVBA Members
Level Term Life Insurance Plan

Decreasing Term Life | Multi-Benefit Accident

$25,000 to $300,000
protection at affordable group rates

Flexibility to suit your needs...
now and in the future

Coverage under this plan is sold in units of $25,000. You may choose however many units you like up to $300,000 coverage.

This enables you to have just the right amount of coverage to suit your present needs. Later you may apply for more units or drop units if your responsibilities change or if inflation causes you to need further protection

Term life insurance...a wise choice recommended by financial experts

Time and time again, leading financial experts recommend term life insurance because it is the most economical form of life insurance you can buy. That’s because term life is pure protection...without costly savings features to drive up the price and which might be better served in other investments.

Cover your whole family at affordable group rates

AFAVBA offers you a Family Plan at very reasonable rates. Under the Family Plan, your spouse is insured for 50% of the benefit amount you choose. Your dependent unmarried children--no matter how many--are insured for $5,000 each as long as they are between the ages of 6 months and 25 years. Even children under 6 months of age get $250 coverage once they are 15 days old and discharged from the hospital.

No War Clause

Here is a valuable feature you won’t find in many other life insurance policies! In the interest of Veterans and their dependents, this AFAVBA program has no limitation or restriction on the payment of full benefits should the insured be killed in a war or act of war.

Coverage guaranteed renewable to age 85

Once issued, AFAVBA’s Level Term Life Insurance is renewable to age 85. However, at 65 the amount of coverage automatically reduces to either 50% of the amount then in force, or $50,000, whichever is less.

Regardless of the condition of your health, your insurance is guaranteed renewable and can be terminated only if your membership lapses, you do not pay your premium, or the master policy is discontinued.

No further premiums due if you become disabled

If, prior to your attainment of age 60, you become totally disabled and the disability lasts for at least 9 months while your coverage is in force, you may apply for the Disability Waiver of Premium Benefit. Upon approval, your coverage will remain in force without further payment of premium on your part, for as long as you continue to be totally disabled and are otherwise eligible for coverage, to age 85 at the lowest level of coverage.

Policy exceptions and limitations

Benefits for suicide or death as a result of intentionally self-inflicted injuries (while sane or insane), will not be available until the amount of coverage has been in force for 12 months.

Convenience plus Money-Back Guarantee
Apply Today!

Convenient payment options

Premiums may be paid directly to AFAVBA quarterly, semiannually or annually. Or you may prefer to pay monthly by government allotment, automatic debit from your checking account or automatic charge to your VISA or MasterCard. Many choose the latter ways so as to eliminate additional bills and the necessity of writing and mailing checks.

Satisfaction guaranteed

If you are not completely satisfied with your coverage when you receive your Certificate of Insurance, simply return it to us within 30 days. Any premium paid will be refunded to you in full.

Certificates are dated and take effect on the last day of the month in which the application is approved. Of course, if you do not receive approval, your premium will be returned to you.

Who is eligible to apply?

Both smokers and non-smokers are eligible to apply if you’re under age 65, are a member, and meet one of the following requirements:

  1. You are serving or have served in the U.S. Military;
  2. You are the spouse or widow(er) of someone who is serving or has served in the U.S. Military.
  3. You are the ancestor or lineal descendent of someone who is serving or has served in the U.S. Military. (This means children, grandchildren, great-grandchildren, etc. and parents and grandparents of someone with U.S. Military Experience. It does not include aunts and uncles.)

Our group rates are level for 10-year terms to age 50 and 5-year terms thereafter, so you won’t pay more each year as with some policies. And your coverage also remains level until you reach age 65.

This coverage is not currently available to residents of Maine, Washington and Puerto Rico.

Both smokers and non-smokers may apply

If you have not used tobacco products for at least 12 months, you qualify for our non-smoker discount. See Table of Premiums.

If you already have this insurance and wish more, you may apply for additional units on the Application provided here.

Want coverage in excess of $300,000? Consider adding to your coverage with AFAVBA’s Decreasing Term Life Insurance.


The premiums below are for each $25,000 unit of coverage. You may apply for up to 12 units for a maximum of $300,000 coverage. Calculate your premium by multiplying your rate below by the number of units you desire.

FOR EXAMPLE: A 43 year old non-smoker wants $100,000 coverage, which represents four $25,000 units.
4 x $10.80 = $43.20 quarterly

Age Individual Plan Family Plan Individual Plan Family Plan
20-29 $3.12 $4.62 $3.78 $5.28
30-39 4.98 6.87 6.12 8.01
40-49 10.80 14.55 13.26 17.01
50-54 27.00 36.99 33.18 4317
55-59 38.70 53.70 47.58 62.58
60-64 59.82 84.81 73.56 98.55
*65-69 135.00 172.50 166.02 203.52
*70-74 216.00 291.00 265.68 340.68
*75-79 270.00 345.00 332.10 407.10
*80-84 369.48 444.48 454.44 529.44

*Renewal Rates Only

Note: You may apply as long as you are under age 65. Once approved, coverage is renewable to age 85. At 65 the amount of coverage automatically reduces to 50%, or $50,000, whichever is less.

Family Plan rates include coverage for individual and eligible dependents. Spouse benefit is 50% of individual benefit. Coverage for each eligible child between ages 6 months and 21 years is $5,000. Children under 6 months are provided with $250 coverage once they are 15 days old and have been discharged from the hospital.

How to Apply
  1. Download and print the Application Form for this plan.
  2. Send the completed Application and initial payment to:

    AFA Group Insurance Program
    P.O. Box 14464
    Des Moines, IA 50306

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