Ep. 9 A Talk With Col. Jerry Quinn, USAR, COO and Secretary of AAFMAA (American Armed Forces Mutual Aid Association)

Welcome to the "Militarily Speaking" podcast with Tom McLean and Jodi Vickery.

In this episode of “Militarily Speaking,” Tom, Jodi, and guest Col. Jerry Quinn discuss life insurance and other policies offered by AAFMAA. They also talk about the different ways AAFMAA is driven to honor the military and military spouses, and share their thoughts on the Blended Retirement System.

“Militarily Speaking” is a podcast produced by Armed Forces Bank that is dedicated to the military lifestyle and all the things that makes military community who they are.

Ep. 9 — A Talk With Col. Jerry Quinn, USAR, COO and Secretary of AAFMAA (American Armed Forces Mutual Aid Association)

Insurance Stats and Welcoming Col. Jerry Quinn

Tom opens the episode by discussing different stats around insurance, including $3.29T of life insurance policies are purchased in the US.

• Jodi introduces Col. Jerry Quinn, USAR, Chief Operating Officer and Secretary of AAFMAA, including fun facts
• Jerry the, at the request of Jodi, discusses his history in getting involved in AAFMAA, including his military service and financial background

What Services Does AAFMAA Offer?

Tom asks Jerry to discuss the array of services including the life insurance policies offered by AAFMAA.

• Jerry begins by noting that all of their offerings are also designed to fit the military spouse.
• He then dives into some details around AAFMAA life insurance policies, and briefly describes the difference between term and whole life insurance policies
• Continuing, he notes that AAFMAA only sells insurance policies to military members and their families
• Jerry describes that AAFMAA’s Veteran Survivor Plan which is a guaranteed issue, and any spouse is also eligible with no underwriting
• He concludes by drawing specific attention to the fact that AAFMAA policies are design specifically for the military and veterans
• Jodi adds that for more information around any of their policies, you can check out www.aafmaa.com

Military Appreciation and Military Spouses

Tom recalls an article by Jerry about Military Appreciation Month and Military Spouse Appreciation Day, after which Jodi asks how AAFMAA reaches out to the military spouse community.

• Jerry says there is information on AAFMAA’s website
• He also encourages people to visit Spouse Link, which is an online lifestyle magazine centered around military spouses, among other tips and tricks

Thoughts on the Blended Retirement System

Tom goes off script a little bit and asks Jerry, and all of his financial wisdom, what his take is on the blended retirement system (BRS).

• Jerry begins by stating that the blended retirement system is a good retirement system
• He notes that investing in a blended retirement account, it will do more than just act as a savings account by encouraging you to engage in savings habits
• Tom comments that he wishes there was a crystal ball to show people what the future looks like when they invest in accounts like this
• Jerry notes that the Blended Retirement System’s website has a lot of really useful information about not only these accounts but also other investing and savings tools
• Jerry tells the struggles of getting his own son enrolled in BRS and on the path to savings, and the discipline of saving

Military Minute

Jodi introduces the Military Minute segment of the show, beginning by closing out last episode’s Military Minute.

• Last episode’s Military Minute: What is Lady Gaga’s real name?
• Answer: Stefani Joanne Angelina Germanotta
• This week’s Military Minute question: Who is the Beyond Basic Life Insurance Plan best for?
• Watch for Facebook and Instagram posts about this episode.
• Answer with the correct answer and you plus a charity of your choice can each win $50.

Tom closes the episode by asking listeners to out to www.afbank.com and subscribe to the show, as well as leave a rating and comment on your favorite podcast platform such as Apple Podcasts or Spotify.

Join us to hear how to better navigate your finances, military life, and the crossroads of the two.

Visit www.afbank.com

** Products and services, including life insurance, offered by AAFMAA are:

NOT FDIC insured

NO Bank guarantee

MAY lose value

NOT SPIC insured