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2020 Annual Meeting

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2020 Annual Meeting Voting in a Poll Submitting a Question When a poll is launched, it will appear on your screen. You can submit questions “GoToWebinar Control Panel” on your screen. To vote, click the circle beside your selection then clicking “submit” on the bottom of the poll screen. Type your question in the in the indicated box and hit “enter” to submit. Please note: We may not be able to answer your question during the Annual Meeting, but we will respond Note: Formal results of the Annual Meeting cannot be displayed until each member is verified. via email within the next two business days. AAFMAA Board as of 9 June 2020 DENNIS J. REIMER JOHN A. DUBIA WILLIAM M. MATZ, JR. MICHAEL J. MEESE MG, USA, Retired Executive Committee Executive GEN, USA, Retired LTG, USA, Retired BG, USA, Retired Chairman, Board of Directors Chairman, Membership Committee Chairman, Finance Committee President WILLIAM M. MATZ, JR. DENNIS D. PORTER JOHN T. RIDGE MACK C. HILL ELISABETH J. STRINES Finance Committee Finance MG, USA, Retired COL, USA, Retired CMSgt, USAF, Retired BG, USA, Retired COL, USAF, Retired Chairman, Finance Committee Vice Chair, Finance Committee Chairman, Audit Sub-Committee JOHN A. DUBIA JANICE M. HAMBY LEWIS E. MONROE, III WILSON A. (BUD) SHATZER, JR. JONATHAN D. GEORGE ROBIN H. BOUDIETTE, JR. GEORGE L. HORVATH DAVID G. REIST LTG, USA, Retired RADM, USN, Retired CMSgt, USAF, Retired COL, USA, Retired Brig Gen, USAF, Retired CW3, USA Retired CSM, USA, Retired BGen. USMC, Ret. Membership Committee Chairman, Membership Committee Vice Chair, Membership Committee AAFMAA’s Mission To be the premier provider of insurance, financial and survivor services to the American Armed Forces community. AAFMAA Membership 85,315 Members Active Duty 35% Retired 59% Veterans 6% AAFMAA Life Insurance ● Value Added Whole Life Solid in Existing ● Level Term 1 (less than SGLI) Basis Policies ● Level Term 2 (less than VGLI) ● Generations Plus ● ANNUITYLife® – Immediate Annuitization New Products ● Wealth Builder Life Insurance: Growth and Future Annuitization Developed or ● Veteran Survivor Plan Improved Why AAFMAA Life Insurance? AMANDA MULLEN LTC Jerry Quinn, USAR MICHAEL CUMMINGS DEBORAH LOGAN Survivor Benefits Survivor Benefits Team Leader, Survivor Representative Chief Operating Officer Benefits Representative and Secretary Survivor Assistance Services Member BenefitsMember RONAN GRIFFIN AMY MAROTTO LYNE BABIN JENNY CAMPBELL JODEE NEUMANN VERONIKA PETROVA Team Leader, VA Benefits Member and Survivor Member Benefits Veterans Affairs Coordinator Manager, Member and Team Leader, Member Representative Survivor Benefits Benefits Coordinator Benefits Coordinator Sales NEAL PELLETIER SANDY BONINA JAMIE COLE PAUL HAWES DALE M. HAWLEY RICK MOSBY HOLLY SHOCKEY KAREN WHITEHEAD Manager, Sales Membership Coordinator Membership Coordinator Membership Coordinator Membership Coordinator Membership Coordinator Membership Coordinator Membership Coordinator AAFMAA Wealth Management & Trust LLC (AWM&T) LTC Steve Mannell, USA, Ret., CTFA AWM&T Relationships Member Assets Under Management 166 $74 M 139 110 $48 M $44 M 86 65 $32 M 40 $23 M $14 M 12 2 $2 M $4 M 2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019 Why AAFMAA Wealth Management & Trust (AWM&T)? Managers Senior Relationship CHRISTINA DELL’AQUILA, CTFA STEVE GALING YOUNG PARK North Carolina Washington, D.C. Metro Area Washington, D.C. Metro Area GARY BROWN SARAH BUMGARDNER JOE FARELLA, CFP®, CLU®, CWS® KATIE GUSHEN MATTHEW J. HICKS Florida Tennessee Washington, D.C. Metro Area Michigan Connecticut Relationship Managers DANIELLE NUXOLL TONY OLIVER JOHN SLEDGIANOWSKI GARRETT N. SORENSEN CINTHIA WILKINSON North Carolina Georgia Colorado Tennessee Colorado AWM&T Relationship Managers AAFMAA Mortgage Services (AMS) LLC Jeff Havener AMS Licensed States Annual Mortgage Loan Volume $113 M $42 M $17 M $4 M 2016 2017 2018 2019 Why AAFMAA Mortgage Services? Wilmington, NC KEVIN R. CROOKS, JR. ARBIE ADKINS COREY K. RIGGS RICK CRATER SCOTT BETZ Branch Manager NMLS: 1950458 NMLS: 1743005 NMLS: 1832264 NMLS: 119281 NMLS: 146741 , NC Fayetteville RICK MAINES AMANDA LUCAS BOB KERLIN CLARA DOMINGUEZ DONALD RIVERS EDUARDO FLOTA TYLER GOURLEY Branch Manager NMLS: 1324402 NMLS: 1748176 NMLS: 929671 NMLS: 1733185 NMLS: 455420 NMLS: 1528626 NMLS: 457598 Reston, VA LAWRIE VICK FAY SILVERMAN DALE POE JOHN LAVELLE Branch Manager BRIAN SHOTWELL KEVIN IUPPA SAMUEL GETACHEW SUZY KREBS Virginia Beach, VA Branch Manager NMLS: 924809 NMLS: 298076 NMLS: 181846 NMLS: 131920 NMLS: 915902 NMLS: 1108450 NMLS: 276425 NMLS: 144133 AMS Military Mortgage Advisors Related Party Accrued Investment Receivables Property & Cash & Cash Income Equipment Equivalents Other Assets Policy Holder Loans Summary of Assets: 2019 Equity Securities 3.7% Net Yield on Assets for 2019 Corporate Bonds Investement in Subsidiaries US & Foreign Govt Obligations Real Estate Mortgages AAFMAA Crediting Rates for 2020 Industry Leading Crediting Rates For Our Members PRODUCT CREDITING RATE Value Added Whole Life 5.50% ANNUITYLife®; Wealth Builder Life Insurance issued 5.50% prior to 2020 Wealth Builder Life Insurance 5.25% ANNUITYLife® 5.00% 2019 Summary Statement of Income INCOME Premiums, Dues, Supplemental Contracts. $ 54,227,212 Net Investment Income and Capital Gains. 53,703,221 Amortization of Interest Maintenance Reserve. 6,214,045 TOTAL INCOME . $ 114,144,478 BENEFITS AND EXPENSES Death Benefit Claims . $ 82,489,193 Less War Claims . (1,600,000) Plus Actuarial Adjustment . 279,202 Net Death Benefit Claims . $ 81,168,395 Surrender Benefits . 9,931,567 Supplemental Contracts Payments . 2,024,052 Insurance Expense . (2,375,503) General Administrative and Operation Expenses . 15,842,883 TOTAL BENEFITS AND EXPENSES. (106,591,394) Excess Interest Credited to Policies . (6,536,793) NET INCOME. $ 1,016,291 15 LTG JOHN A. DUBIA, USA, Ret. Chairman, Membership Committee AAFMAA Board BGEN DAVID G. REIST, USMC, RET. Members for Election/Reelection COL WILSON A. (BUD) SHATZER, USA, RET..
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