WEST DES MOINES, Iowa & ALEXANDRIA, Va.--(BUSINESS WIRE)--American Equity Investment Life Insurance Company (“American Equity”), a leading provider of fixed index annuities, and Armed Forces Benefit Association (“AFBA”) today announced that they will partner to transition American Equity’s National Guard and Fire Fighter group life insurance coverage to AFBA effective January 1, 2018.
“We are excited to work with AFBA. With its long-standing commitment to service members and first responders, we are confident AFBA is the ideal partner as we transition our group life insurance business,” said John Matovina, Chief Executive Officer of American Equity. “We have been in the National Guard and Fire Fighter business since day 1 at American Equity. Supporting those who serve our country and communities is, and will continue to be, part of our culture and identity. As our annuity business continues to grow, we believe our service members and fire fighters will be well-served by an organization strategically focused on providing products and services meeting their needs.”
American Equity currently insures over 65,000 National Guard members and over 13,000 fire fighters serving in 106 locals throughout the United States. AFBA provides life insurance to over 140,000 National Guard members, retirees and family members and over 130,000 First Responders, retirees and family members.
General Ralph E. “Ed” Eberhart, USAF (Ret.), Chairman and President of AFBA, added “For 70 years, AFBA has been committed to serving those who serve this great nation. Our focus is on providing life insurance products and services tailored for service members and first responders. American Equity has been the pathfinder in serving the citizen Soldiers and Airmen of our nation and we are honored to work with their National Guard and Fire Fighter customers to provide excellent life insurance solutions and service.”
ABOUT AMERICAN EQUITY
American Equity Investment Life Insurance Company® is a full-service underwriter of fixed annuity and life insurance products with a primary emphasis on the sale of index and fixed rate annuities. Headquartered in West Des Moines, Iowa, American Equity Investment Life Insurance Company is committed to providing products with integrity as well as superior service to the agents they partner with and their policyholders. For more information, please visit www.american-equity.com.
About Armed Forces Benefit Association
The Armed Forces Benefit Association (AFBA) was established in 1947 in the basement of the Pentagon with the support of the General of the Army, Dwight D. Eisenhower to ease the strain on military members and their families who, at the time, could not purchase life insurance that would pay a death benefit if the member was killed in combat. Today, headquartered in Alexandria, VA, AFBA continues to honor its mission, in war and peace, promoting the welfare of its members as a market leader providing high-quality, affordable life insurance and other benefits to those who serve this great nation, including members of the uniformed services, first responders, government employees, and their families. AFBA has more than 450,000 members with $36 billion of life insurance in force and has paid nearly $2 billion of claims paid since inception. AFBA products are underwritten by its affiliate, 5Star Life Insurance Company (a Baton Rouge, Louisiana domiciled company).