AFBA was established in February 1947 with the approval of the Secretary of War, Mr. Robert Patterson. The Chief of Staff, General of the Army Eisenhower also approved the establishment of this non-profit voluntary membership Association "to promote the general welfare and economic interests of its members and their families by providing superior benefits and services principally to military families during peace and war." Membership in AFBA today is available to all members of the Uniformed Military Services; Department of Defense, Department of Homeland Security and other Federal Government employees; Contractor Employees in support of the Uniformed Military Services; State and Local Employees (to include Police Officers, Firefighters and other First Responders); and their families.
Since 1947, AFBA has paid death claims to the beneficiaries of its members serving in Korean, Vietnam, and Persian Gulf conflicts, the terrorist attack on the Pentagon and the Iraqi and Afghan operations. AFBA continues to keep its rolls open during the “War on Terrorism.” AFBA covers nearly 300,000 members with over $36 billion of insurance in force. Claims paid exceed $1 Billion.
Today, AFBA is under the leadership of a Board of Directors of senior retired military personnel and acknowledged business leaders from private industry. AFBA continues to honor the mission set forth by its foundersto promote the welfare of its members and their families and to advance and safeguard their economic interest by providing high quality, low cost life insurance products and other financial benefits and services in peace and in war.