Dear Navy Mutual Members and Families —

As we prepare for all that this new year will surely bring, I wanted to give you an update on the health and activities of your Navy Mutual Aid Association. To borrow a phrase from almost every U.S. President’s State of the Union address, I can tell you without hesitation that the state of your Association is STRONG.

We have enjoyed another year of increasing sales, providing sustained modest growth in a life insurance industry that has been shrinking for the past decade. Our net new member numbers are beginning to climb, highlighted by strong interest in our Flagship Whole Life product and unmatched customer service. The incredible member and beneficiary survey results we continue to receive, along with the often eye-watering testimonials from those we have served, reflect the dedication and compassion of our employees. From the mail room to the executive deck, the culture of SERVICE to those who have worn the uniform of this Nation is pervasive and persistent.

The A+ rating we once again received from Fitch Ratings, a global leader in credit ratings and financial research, underscores our diligence in safeguarding your assets and underpins our promise to provide for your beneficiaries in the future. That solid, conservative investment approach has also enabled Navy Mutual to hold premiums down and crediting rates well above current market returns for nearly a decade since the economic downturn of 2008.  We are constantly monitoring market conditions relative to our annuity rates and have recently made substantial increases to the rates on our Single Premium Deferred Annuity, a great tax-deferred alternative to a Certificate of Deposit or CD.  Go to our website to check it out!

Speaking of our website, we will have a new look and feel to the Navy Mutual website early in 2019. As you know, the website is an important resource for our members and a critical tool for sales and marketing. Our plan is to retain all that was compelling and relevant from our current site, packaged in a more modern and responsive venue.

The turbulence of this past year reminds all of us here at Navy Mutual of the importance of our mission to safeguard your loved ones against misfortune. We thank you for your continued confidence in the service and peace of mind we provide, and hope the new year brings good health and much happiness.

Bruce B. Engelhardt
President and Chief Executive Officer