Navy Mutual Aid Association COMDTINST 5760.4A

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Navy Mutual Aid AssociationCOMDTINST 5760.4A

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Navy Mutual Aid Association (Cont.)

• NMAA is a non profit organization made up of
  several Retired Military Personnel.
• Recognized by Congress and by COMDT
• An addition/alternative to SGLI
• Advantageous for Non-Smokers
• An Insurance and/or Investment portfolio
• Company is Re-Insured through Lincoln National
  Life. Has a NA-4 rating (top rating).

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NMAA (Cont.)

• Permanent Plus Plan - Combines Permanent Life
  Insurance and investment growth of Universal
  Life - Plan with TAX DEFERRED cash value
  build up. Insurance available in units of
  20,000 up to 600,000 - Pay premiums for 7
  years - Example 1 unit of 20,000 paying for 7
  years starting at 35 years old 50.40 per
  month
• Presently 8.65 compounded interest

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NMAA (Cont.)

• Flex Term Plan - In addition to or an
  alternative to SGLI.
• This plan is UNAFFECTED by Active Duty Status.
  - Coverage's range from 50,000 up to
  600,000. - Partial refund for non-smokers paid
  annually. - Coverage up to age 50.
• Can include SPOUSE and CHILDREN

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NMAA (Cont.)

• SGLI 400,000 costs 25 per month 300/yr-
  Spouses and children not allowed - Coverage
  stops 120 Days after release from Active
  Duty
• Flex Term 400,000 costs 19 per or 16.35- for
  Non Smokers Only

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NMAA (Cont.)

• Level II Term Program (costs varies with length.
  Key Point Issue age Vs termination age) -
  Level coverage and premiums up to age 75 -
  Must start by age 65. (Physical Required) -
  Coverage's range from 50,000 up to 600,000.
  (I.e Age 30, 200,000 40.20). Since
  Policy Length is 20 yrs, equates to 30 refund
  (28.14/mo) - Refunds of 20 (If Policy
  Length of 10-14 yrs) 25
  (If Policy Length of 15-19 yrs)
  30 (If Policy Length of 20 yrs) -
  Spouse and Children eligible -Premiums will not
  increase until Policy ends

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NMAA (Cont.)

• Once a member, you are assigned a Manager for
  your account. Assists family members in the time
  of your death. Informs them of hidden assets,
  life insurance policies, VA Benefits, etc.
• For more info call 1 800 628-6011

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