Wikipedia
The Armed Forces & Police Mutual Benefit Association, Inc (AFPMBAI) started in 1949 as the Armed Forces of the Philippines Mutual Benefit System (AFPMBS) created by the AFP during the height of the anti-dissident campaign in Central Luzon. It was incorporated on September 1, 1965 and registered with the SEC as a non-stock corporation with the soldiers and later, the police, fire, jail management, and coast guard personnel as members. It was licensed by the Insurance Commission as a mutual benefit association that extends the benefit and services for the welfare and financial security of its members and their family.
As an insurance arm of the AFP, PNP, BFP, BJMP, and PCG, the Association was authorized to engage in the business of life insurance. It started by offering a Basic Insurance of P3,000 exclusively for members which due to a series of upgrading, is now P35,700 to P85,600 depending on the rank of the member. Later, the Association expanded its services with the introduction of additional insurance coverage like the Whole Life, 20-Pay life and 10, 15, 20-year Endowment plans, Anticipated 20-year Endowment plan, and Special Whole Life plan. To date there are various competitive insurance coverage being offered by the Association including Endowment at Age 56, College Educational Plan, and Easy Pay Plan. Its membership has likewise broadened by including the dependents of regular members, the civilian or non-uniformed personnel of the AFP, PNP, BFP, BJMP, PCG, and those persons performing activities related to national security and preservation of peace and order.
Apart from life insurance, the AFPMBAI also provides housing, educational, salary and calamity loans to its members.
The Association is managed by a Board of Trustees composed of military, police, and the fire officers who are representatives of the broad spectrum of its members. The members of the Board are appointed by the AFP Chief of Staff in accordance with Presidential Letter of Instruction 333.
AFPMBAI serves its members nationwide through its numerous Regional Areas/Offices and Extension offices. To date it has remained the Number 1 mutual benefit association in the Philippines in terms of assets and legal policy reserves. It also earned a respectable position among the top 10 domestic life insurance companies as it ranks 6th in terms of assets, 4th in legal reserves, based on CY 2005 Report of the Insurance Commission.