Military Benefit Association
Encyclopedia
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"
(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.
The MBA Board of Directors consists of seven elected members. Six are active duty members, three are enlisted personnel and three are commissioned or warrant officers.
. Not more than two of the seven Directors may represent one branch of the uniformed services. 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.
(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.
.
Chantilly, Virginia
Chantilly is an unincorporated community located in western Fairfax County and southeastern Loudoun County of Northern Virginia. Recognized by the U.S. Census Bureau as a census designated place , the community population was 23,039 as of the 2010 census -- down from 41,041 in 2000, due to the...
, 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
Active Duty
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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
Ready Reserve
The Ready Reserve is a program maintained by the U.S. Department of Defense to maintain a pool of trained service members that may be recalled to active duty should the need arise. It is composed of service members that are contracted to serve in the Ready Reserve for a specified period of time as...
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
Veteran
A veteran is a person who has had long service or experience in a particular occupation or field; " A veteran of ..."...
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
Active duty
Active duty refers to a full-time occupation as part of a military force, as opposed to reserve duty.-Pakistan:The Pakistan Armed Forces are one of the largest active service forces in the world with almost 610,000 full time personnel due to the complex and volatile nature of Pakistan's...
, retirement
Retirement
Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions don't allow the person to...
, 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 seven elected members. Six are active duty members, three are enlisted personnel and three are commissioned or warrant officers.
. Not more than two of the seven Directors may represent one branch of the uniformed services. 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.
Member Benefits
- MBA Term 90 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 InsuranceTerm life insuranceTerm life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or...
, plans offering coverage for honorably discharged members of the uniformed services. - NexGen Dependent Term Life InsuranceTerm life insuranceTerm life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or...
, plans offering increased coverage on dependent children as they transition to adult-former-dependent status at age 25. - Adult Former Dependent Term Life InsuranceTerm life insuranceTerm life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or...
, plans providing life insuranceLife insuranceLife insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
coverage for former dependents of MBA members. - Decreasing Group Term Life InsuranceTerm life insuranceTerm life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or...
, plans offering monthly income payment options. - TricareTRICARETRICARE, formerly known as the Civilian Health and Medical Program of the Uniformed Services , is a health care program of the United States Department of Defense Military Health System. TRICARE provides civilian health benefits for military personnel, military retirees, and their dependents,...
Supplement Plan, plans paying some cost of medical care beyond what Tricare will pay. - Kaplan University, Military veterans and active-duty service members may receive up to 55 percent off the cost of tuition.
- Life Line Screening, screenings at a discount not available to the public.
- Liberty Mutual Auto and Home Insurance, savings on auto and home insurance from Liberty Mutual.
- MBA Scholarship Program, each year we will award five $2,000 college scholarships to eligible dependent children of MBA members for undergraduate study.
- Visa Platinum Card, MBA members can apply for U.S. Bank Visa credit cards with no annual fee and a competitive annual percentage rate.
- Hertz Car Rental Discounts, MBA members are automatically eligible to receive discounts on Hertz car rentals.
SGLI and VGLI
Servicemembers' Group Life InsuranceServicemembers' Group Life Insurance
Servicemembers' Group Life Insurance is a life insurance available to all active duty and reserve members of the uniformed services of the United States...
(SGLI) is a term life insurance
Term life insurance
Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or...
plan available to members of the uniformed services. The Veterans Administration
United States Department of Veterans Affairs
The United States Department of Veterans Affairs is a government-run military veteran benefit system with Cabinet-level status. It is the United States government’s second largest department, after the United States Department of Defense...
(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, TexasSan Antonio, Texas
San Antonio is the seventh-largest city in the United States of America and the second-largest city within the state of Texas, with a population of 1.33 million. Located in the American Southwest and the south–central part of Texas, the city serves as the seat of Bexar County. In 2011,...
.
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.
- [MilitaryCity.com] internet portal for the Military Times publications..
- [Stripes.com] delivers military and world news for troops posted overseas..
- [Military.com] delivers a comprehensive variety of military information..