Navy Mutual Aid Association

• High Financial Strength Rating
• Policies Geared for Military Needs
• Expedited Processing Available
• Helpful Term Life Insurance Options
• Whole Life Insurance Available

High Financial Strength Rating

Navy Mutual has consistently received a high financial strength rating from Fitch. Although most life insurers have ratings from A.M. Best, Navy Mutual's rating from Fitch still inspires confidence that Navy Mutual is financially stable and able to meet its claims obligations.

Policies Geared for Military Needs

Since Navy Mutual serves military members, its life insurance policies have no restrictions for military service or war clauses.

In addition to these features, Navy Mutual offers its members and their families beneficiary services that include benefits counseling and veteran services recognized by the VA. Members can also find discounts on dental insurance, vision insurance, and PODS Moving and Storage.

Expedited Processing Available

Another advantage of working with Navy Mutual is that the company offers expedited processing if you're getting ready to deploy. This extra service makes it easier to get a life insurance policy in place before you deploy.

Helpful Term Life Insurance Options

Navy Mutual offers two term life insurance policy options. Flex Term is geared for people ages 18 to 45 and designed to supplement your SGLI coverage.

The Level II Plus Term is geared for people ages 45 to 75 and includes additional features like the option to extend the guaranteed convertibility feature that allows you to convert the policy to Navy Mutual's whole life insurance.

With both of these term life insurance policies, you'll find the following:

• Accelerated death benefit included (eligible after maintaining policy for five years)
• Guaranteed convertibility feature (must meet terms and conditions)

You can also add a child benefit rider for children under age 26.

Whole Life Insurance Available

Navy Mutual's Flagship whole life insurance policy offers the ability to accumulate cash value over time that can be used as an asset. You can choose between a chronic and terminal illness settlement option for your policy. This option comes at no additional cost.

You can add the following riders to offer additional protection:

• Paid-up additions (use funds to increase death benefit or cash value without more medical underwriting)
• Participating dividends (receive dividends from your policy's cash value)
• Generations coverage (add children or grandchildren)

In many cases, you'll need to complete a medical exam for underwriting this policy. However, Navy Mutual offers up to $400,000 in guaranteed issue coverage under certain circumstances. For example, if you or your family were covered by SGLI or Family SGLI and recently separated from the military, a medical exam may be waived. Reach out to Navy Mutual for more details.

• Insufficient Customer Insight
• Limited Policy Options
• No Disability Waiver Riders Listed
• Eligibility Requirements

Insufficient Customer Insight

Best Company does not have many Navy Mutual reviews, so our understanding of the customer experience is limited. Although life insurance companies generally tend to have lower review counts on BestCompany.com compared to other industries, more customer insight would be beneficial in assessing Navy Mutual life insurance.

Limited Policy Options

Navy Mutual only offers term and whole life insurance. If you want another type of life insurance such as universal life insurance, you'll need to find another provider.

No Disability Waiver Riders Listed

Navy Mutual does not include disability waiver riders on its website. These riders waive premiums if the policyholder becomes disabled, which allows you to keep your policy in place and worry about one less bill. These riders are more commonly offered with permanent life insurance policies.

If you're looking for this kind of rider, you'll need to find another carrier.

Eligibility Requirements

Navy Mutual only serves current and former members of the U.S. military or uniformed services. If you are no longer part of the military, you must have been honorably discharged or retired.

You'll need to find another company if you do not meet Navy Mutual's eligibility requirements.