State Sponsored Life Insurance (SSLI)
Parent Category: NGAC
Published: 01 May 2017
FOR IMMEDIATE RELEASE CYNTHIA LIGHT
May 1, 2017 703-224-5004
AFBA / 5Star Life Chosen as Life Insurance Provider by the National Guard Association of California
Selection solidifies position for the #1 provider in the National Guard market
ALEXANDRIA, Va.—The Armed Forces Benefit Association (AFBA) and its affiliate, 5Star Life Insurance Company, announced today it has been selected by the National Guard Association of California (NGAC) as the provider of its State Sponsored Life Insurance program effective May 1, 2017.
General Ralph E. “Ed” Eberhart, USAF (Ret.). AFBA Chairman and President stated, “This affiliation with NGAC underscores our unwavering commitment to serve the men and women serving this great nation. It is a great honor and responsibility we do not take lightly. AFBA and 5Star Life are governed by boards of directors comprised of retired senior officers and non-commissioned officers, including those from the National Guard, so we understand the needs of the military member and family.”
Mark Singleton, President, 5Star Life, concurs, adding, “We are extremely pleased to be selected by National Guard Association of California. As the “AFBA has demonstrated a strong commitment to doing what is 'right' for those who serve this great nation. Their product is the strongest and most beneficial to the Guard members and their families. We look forward to this partnership and continued growth.”
leading provider of life insurance benefits in the National Guard market in 38 states and territories, we are glad to be able to offer NGAC members our outstanding combination of benefits, rates, briefing capability, and service expertise.”
In the National Guard market, AFBA and 5Star Life currently have more than 140,000 active insureds representing $14B of life insurance in force in 38 states and territories. Products designed with our target market in mind, they feature no exclusions for combat, terrorism, occupation or geography; emergency death benefit within 24 hours of notification; and a scholarship up to $40,000 for the families of those killed in combat. These unique features, along with our philosophy to always do right by the member, set AFBA / 5Star Life apart in the market.
NGAC President John N. Haramalis stated, “Both AFBA and NGAC share a common legacy and mission of promoting the welfare of their members, and they recognize that the soldiers and airmen of the National Guard deserve the best life insurance program available. Their product is the strongest and most beneficial to Guard members and their families. We look forward to this partnership and continued growth.”