The Military Benefit Association (MBA) helps military folks, veterans, and their families. It’s a non-profit that offers insurance and financial services. Whether you’re active duty, transitioning, or retired, MBA has affordable plans and benefits for you and your family.
Who Is Eligible for MBA Membership?
Military Benefit Association membership is open to:
- Active Duty Personnel: Service members currently serving in any branch of the U.S. military.
- Veterans: Those who have served in the military and are now separated or retired.
- Retired Military Personnel: Individuals who have completed their military service and are receiving retirement benefits.
- Federal Employees: Current federal government workers.
- Spouses of Military Members: Eligibility extends to spouses, ensuring family protection.
MBA aims to give members affordable insurance and financial help. It’s designed to tackle the unique challenges of military life. With MBA, you get a wide range of benefits to make life easier for those who serve their country.
Core Insurance Benefits and Programs for MBA Members
MBA offers several insurance plans tailored to military needs. These include:
1. Life Insurance
MBA provides life insurance plans with coverage of up to $1,000,000. Unlike many civilian life insurance policies, MBA’s life insurance does not have a “war clause,” which means members are covered even in the event of death caused by war-related activities. Here are some of the key aspects:
- No War Clause: Coverage without restrictions based on military activities.
- Affordable Rates: MBA life insurance plans are often more affordable compared to civilian and government programs.
- Spousal Coverage: Plans extend coverage to spouses for complete family protection.
Life Insurance Table:
| Plan Type | Maximum Coverage | Key Features |
|---|---|---|
| Military Term Insurance to Age 90 | $1,000,000 | Renew annually, no need to requalify, coverage until age 90 |
| Level Term 10- or 20-Year Insurance | $600,000 | Fixed premiums for the duration of 10 or 20 years |
2. Health Insurance
Even with TRICARE, service members and their families may face medical expenses that aren’t fully covered. MBA offers supplemental health insurance plans to minimize out-of-pocket costs for TRICARE users. These plans cover deductibles, co-pays, and other medical expenses not covered by the standard TRICARE plan.
- TRICARE Supplement: Reduces or eliminates out-of-pocket costs for TRICARE plan users.
- Hospital Indemnity Insurance: Provides daily cash payments in case of hospitalization, covering additional expenses such as transportation or child care.
TRICARE Supplement Table:
| Plan TypeStarting PriceKey Benefits | ||
|---|---|---|
| TRICARE Supplement Insurance | Under $12/month | Helps with co-pays, deductibles, and excess charges |
| Hospital Indemnity Insurance | Varies | Daily cash payments for hospital stays, no receipts required |
3. Auto and Home Insurance
Protecting your personal property is as important as your health and life. MBA members get exclusive group-rate discounts on auto and home insurance. This is thanks to MBA’s partnership with Liberty Mutual.
- Auto Insurance: Get special savings on car insurance, including Medical Payments coverage.
- Homeowners Insurance: Get full coverage for your home, personal property, and liabilities.
Additional Member Benefits
MBA offers more than just insurance. It provides several key benefits to its members:
1. Scholarship Program
MBA supports the education of its members and their families. Each year, it awards scholarships to those studying full-time. Over $600,000 in scholarships have been given out so far.
2. MetLife Legal Plans
MBA members get MetLife Legal Plans at a discounted rate. This service offers legal help for many issues, like tax audits and traffic violations.
3. Career Resources – Orion Talent
Through Orion Talent, MBA helps veterans find civilian jobs. Orion is a top military career placement firm in the U.S., providing free career planning services.
4. Lifeline Health Screenings
MBA members can get Life Line Screenings at lower rates. These screenings help members stay healthy and avoid big medical problems.
5. Hotel Discounts – Hotel Engine
MBA members get discounts on hotel stays through Hotel Engine. They save an average of 26% off the public rate. Every booking supports MBA’s scholarship program.
Why Choose MBA Over Other Options?
Choosing MBA over SGLI or VGLI has its advantages:
- Higher Coverage Amounts: MBA offers life insurance up to $1,000,000. SGLI and VGLI only go up to $500,000.
- No Application Deadlines: Unlike VGLI, MBA has flexible enrollment options. You don’t have to rush to apply.
- More Affordable Premiums: Non-smokers might find MBA’s rates better than VGLI. VGLI doesn’t consider tobacco use in rates.
Conclusion
The Military Benefit Association is key for those serving, veterans, retirees, and their families. It offers affordable insurance and many benefits. This helps protect what’s most important during and after service.
Looking for life insurance, home protection, or legal and career help? MBA has it all. It’s a great way to secure your future and your loved ones’ futures.
