Frequently Asked Questions


Life Insurance QuestionsIs this just life insurance?
All of TWA’s life insurance products allow for tax-deferred cash value growth. Both TWA’s Future First Universal Life Insurance Policy and the Flexible Dollar Builder Whole Life Insurance Policy provide life insurance coverage if you die, but they also provide cash value assets you can use while you’re alive.

What does tax deferred mean?
Tax-Deferred means that you are not required to pay taxes on the interest you earn within the policy until you withdraw the interest. This allows for your cash values to grow at a faster rate, which means more money for you!

How can I check on the status of my policy?
You may call a TWA customer service representative or register online. By registering online you will be able to view premium payments, make withdrawals and much more. To register simply go to and click on the “register” icon on the home page.

Does the interest rate on my policy change?
While the guaranteed rate on a policy will never change the current rate may. Interest rates as well as the economy have proven to fluctuate with time. This means you’re crediting interest rate most likely will change from time to time.

What is the most I can add to my policy?
Each policy is unique. The best way to find out about maximum contributions is to call your agent or call TWA and talk to a customer service representative.

How do I change my address?
Simply register online to make this change to your policy or print an address change form from our forms section on our website. You may also call TWA and a TWA customer service representative can make the change for you.

How do I change my beneficiary?
Simply print off a beneficiary change form from our forms section on our website. Mail or fax the form to our address located on the Contact Us section of our website.

How is this policy different than term insurance?
Term insurance is a set amount of coverage for set amount of time. In most cases term coverage is cost effective and usually will have a level premium. Once the term of your policy is up you will be required to re-apply for coverage. Given that the older you are the more coverage costs don’t be surprised to see your Term rates may increase substantially. Also, if you have incurred any medical conditions you may not even qualify for coverage. We believe Term coverage is an inexpensive tool you can use to fill your insurance needs. The best way to protect against the pitfalls of term insurance is to buy Permanent insurance. TWA’s policies provide life time level premiums regardless of age and medical changes. TWA’s policies also provide tax-deferred cash value growth.


Why do I need more Life insurance?
The answer is you may or may not. There are many things to consider when purchasing life insurance; family, age, heath status and more. It is important to be properly insured and the only way to figure that out is to sit down with a life insurance professional to determine your needs. A common tool to determine if you need more life insurance is to do a life insurance needs analysis worksheet.

Military Life InsuranceWhat is the difference between my SGLI and this insurance?
SGLI is a wonderful group term life insurance policy. TWA is an SGLI member and we are one of the few companies that you can convert your SGLI term coverage into permanent coverage with. It’s simple, term coverage like the SGLI terminates once you are out of the service whereas Permanent coverage is with you your whole life. Also, permanent coverage such as the Flexible Dollar Builder and Future First Universal Life build cash value assets that can be used while you are alive.

Can I keep my policy when I get out of the military?
Yes!. All of our policies are portable. You may have to make different payment arrangements once you are out of the service which is as simple as contacting your local agent or calling and talking to a TWA customer service representative to find out which payment option is best for you.

Does this take the place of my SGLI?
NO! SGLI is inexpensive group term insurance. We highly recommend your participation in the SGLI program. Our policies are a great supplement to your SGLI as we offer Permanent portable insurance.

What are my fees when I withdraw money from my policy?
Withdrawals made during the first 10 years may be subject to a 5% early withdrawal fee. Review your policy or call our office for assistance.


How many policies can I own?
That depends. You may own a policy for yourself, your spouse and your dependents.

Civilian Life InsuranceWhat if I change banks?
If you change banks it’s important to let us know immediately. We will need you to submit a new Bank Draft form so your policy is not in danger of lapsing.

I no longer work for the company or municipality that I bought my policy though. What should I do?
The good news for you is that your policy is portable. If you are paying for your policy by Bank Draft you don’t need to make any modifications. If your employer was withdrawing money from your check to pay your policy, simply go to the Forms section of our website and print out a Bank Draft form and fax or mail using the information on our Contact Us page. If you have any questions please contact one of our customer service representatives.

When can I withdraw money with no penalty?
You may withdrawal money without penalty after the anniversary date of your 10th year in the policy. Withdrawals made before that date may be subject to a 5% early withdrawal penalty.

Why does the insurance company require a 5 year medical history?
This is a standard insurance company procedure. It is important to all of our policyholders that we manage and assess our risk properly. Medical information is an important tool we use to determine if you qualify for coverage.

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