1. Is there a Membership Fee to join MBA?
No, joining the Military Benefit Association (MBA) is free. They offer affordable insurance and benefits to military, veterans, federal employees, and their families. There are no upfront costs.
2. Is MBA affiliated with any other companies or associations?
MBA works with several organizations to offer more benefits. They partner with Liberty Mutual for auto and home insurance. They also work with MetLife Legal Plans for legal services, Orion Talent for career help, and Hotel Engine for hotel discounts. These partnerships give members access to exclusive services at lower rates.
3. I am an existing member and would like to change or increase my existing coverage. How do I do that?
If you’re an MBA member and want to change or increase your coverage, contact MBA. Here’s how:
- Call MBA’s customer service: Use the phone number on the MBA website to reach out.
- Update your coverage online: Log in to your account on the MBA website. Go to the insurance section to request changes.
- Submit necessary forms: You might need to fill out specific forms. These can be downloaded from the MBA site or provided by customer support.
Always confirm any changes in writing from MBA to ensure your policy is updated.
4. Am I able to make payments online or over the phone?
Yes, MBA makes it easy to pay online or by phone.
- Online Payments: Log into your MBA account on their website. Use a credit or debit card to make payments.
- Phone Payments: MBA’s customer service team can help with payments over the phone. Call the number on the MBA website to securely process your payment.
MBA offers both payment methods to make managing your insurance easy and flexible.
5. Is it okay to list more than one beneficiary? How do I do this?
Yes, you can list more than one beneficiary for your MBA life insurance. This way, your coverage can go to the people you choose if you pass away. To add or update beneficiaries, follow these steps:
- Log into your MBA account on their website.
- Navigate to the Beneficiaries section in your policy settings.
- List multiple beneficiaries and assign percentages to show how the benefit will be split.
You can also contact MBA’s customer service team to update your beneficiaries by phone or through a paper form. Keep your beneficiary information up to date, like after getting married, divorced, or having a child.
6. Is there an aviation or war clause with my MBA coverage?
No, MBA coverage doesn’t have an aviation or war clause. Unlike many civilian policies, MBA doesn’t exclude coverage for war-related activities or aviation accidents involving military personnel. This makes MBA life insurance great for service members, as they stay covered even in risky military situations.
7. So if I deploy, I am stil covered?
Yes, if you deploy, you’re covered under your MBA life insurance policy. MBA knows the risks of military service and keeps your coverage the same, no matter where you are deployed. There are no coverage reductions because of deployment.
8. Is there any change in my life insurance coverage due to a separation or retirement from the service?
No, your MBA life insurance doesn’t change if you leave the military. You keep your coverage as long as you pay your premiums. MBA’s life insurance is meant to protect you long after you’re no longer in the service.
But, it’s smart to check your coverage when you retire or leave the military. Your life and needs might have changed.
9. Does my MBA coverage offer any cash or loan value?
No, MBA life insurance doesn’t have cash or loan value. It mainly offers term life insurance. This type of insurance is affordable and provides death benefits without the cash buildup of whole life insurance. It’s designed to protect your loved ones if you pass away during the policy term.
10. Is there a conversion privilege with my coverage?
Yes, many MBA life insurance policies have a conversion privilege. This lets you switch your term life insurance to permanent life insurance without a medical exam. This is great if your health changes or if you want coverage for life. But, you must convert before a certain age or within a set time. Always check your policy to see what options you have.
