Military Benefit Association

The Military Benefit Association, based in Chantilly, Virginia, was founded in 1956 and is one of the largest non-profit insurance associations in the United States sponsoring insurance plans and other membership benefits to the military and federal civilian communities.

Military Benefit Association was established with the objects and purposes of, “… promotion of the welfare of its members; the advancement and safeguarding of their economic interests; and generally to encourage and promote better financial conditions for its members through cooperative enterprises"

History

The Military Benefit Association was first founded as the Armed Forces Enlisted Benefit Association in 1956 as a nonprofit association for the purpose of offering group term life insurance to enlisted military members who had few affordable life insurance alternatives. The founders were aware that enlisted service members did not have access to the same benefits as military officers. In 1963, the name of this organization was changed to Military Benefit Association (MBA) . Military officers, retirees, honorably discharged veterans, federal civilian employees, and their spouses have been added to the member eligibility list over the years. Adult former dependents of MBA members are now able to join MBA. Through gradual expansion of its membership eligibility, MBA has grown into an association that serves the entire military and federal civilian communities .

Eligibility

Application for membership in the Association shall be received and entertained from the following:

(1) Active Duty Membership: Personnel who are under age 62, or such age as is determined by the Board of Directors, and who are on active duty in any component of the following Uniformed Services: the United States Army, the United States Navy, the United States Marine Corps, the United States Coast Guard, the United States Air Force, the United States Public Health Service, the National Oceanic and Atmospheric Administration, or Cadets or Midshipmen attending the United States Military Academy, the United States Naval Academy, the United States Air Force Academy, the United States Coast Guard Academy or the United States Merchant Marine Academy .

(2) Associate Membership: And from personnel who are under age 62, or such age as is determined by the Board of Directors, and who are entitled to receive pay in a Ready Reserve Duty status in any of the Reserve Components of the United States Uniformed Services, or who are full time civilian employees of the U.S. Government, and U.S. citizens, and are actively engaged in a full time occupation for the U.S. Government on a regular and continuing basis, and from spouses of persons who qualify for membership under paragraphs (1), (2) or (3) of Section 2 of this article, and from dependents of members who qualify for member benefits under rules established from time to time by the Board of Directors.

(3) Veteran Membership: And from personnel who are under age 62, or such age as is determined by the Board of Directors, and who shall have retired from active duty with pay in one of the U.S. Uniformed Services prior to becoming a member of the Association, and from those persons who have been honorably discharged from previous active duty.

(4) Auxiliary Membership: And from those persons, now adults, who were at one time dependents of members.

Any member may continue membership as an Associate member of the Association upon separation, discharge or transfer from active duty, retirement, or upon termination of employment, under honorable conditions.

Board of Directors

The decisions which affect the welfare of MBA members are made by a Board of Directors who are in the military or have served in the military and know the concerns of their fellow service members.

The MBA Board of Directors consists of six insured active duty members and one insured associate member, elected for terms of three years by the members . Not more than two of the seven Directors may represent one branch of the uniformed services. Of the six insured members who are on active duty, three Directors must be enlisted personnel and three Directors must be commissioned or warrant officers. The President and the Vice President & General Counsel of the Association are ex-officio members of the Board of Directors and shall serve as Directors only so long as they hold their respective offices.

An annual meeting is held the third Friday of October to elect directors and to transact such other business as may properly come before the meeting. All members are invited to attend the annual meeting.

Products

• MBA Term 90 and Level Term II Term Life Insurance, plans allowing service members to take the insurance with them when they enter civilian life upon ending service. Spouses can also become members.
• Veterans Patriot Term Life Insurance, plans offering coverage for honorably discharged members of the uniformed services.
• NexGen Dependent Term Life Insurance, plans offering increased coverage on dependent children as they transition to adult-former-dependent status at age 25.
• Adult Former Dependent Term Life Insurance, plans providing life insurance coverage for former dependents of MBA members.
• Decreasing Group Term Life Insurance, plans offering monthly income payment options.
• Tricare Supplement Plan, plans paying some cost of medical care beyond what Tricare will pay.

In addition to life insurance, MBA sponsors several other benefits designed to improve the financial conditions of its members, such as discounted insurance and credit from partner organizations.

SGLI and VGLI

Servicemembers' Group Life Insurance (SGLI) is a term life insurance plan available to members of the uniformed services. The Veterans Administration (VA) purchases SGLI coverage for military members from a commercial insurance company made up of a coalition of insurance underwriters.

Veterans' Group Life Insurance (VGLI) is a post-separation term insurance available to military personnel after their SGLI terminates, upon discharge from military service.

SGLI is an insurance option for active duty military members. MBA-sponsored insurance is offered as a supplement.

Insurance Underwriter

All MBA-sponsored insurance is underwritten by Government Personnel Mutual Life Insurance Company (GPM), an insurance company based in San Antonio, Texas.

Internet Partnerships

MBA has partnered with the following organizations to assist military members in making good financial choices.

• [VALoans.com] helps military and veteran families negotiate the process of applying for a home loan through the Veterans Administration.

• [MilitaryHub.com] delivers information to help make better money management choices and use military discounts.

• [MilitaryInfo.com] delivers military news and veteran benefit information to military veterans and their families.