Navy Mutual Aid Association
| Industry | Financial services nonprofit organization |
|---|---|
| Founded | 1879 |
| Headquarters | Henderson Hall, Arlington, Virginia, United States |
| Products | Life Insurance, Annuities, Education |
| Website | navymutual |
Navy Mutual Aid Association (NMAA) is a nonprofit, federally tax-exempt, mutual-benefit veteran service organization (VSO) that was established in 1879 by sea service officers for the purpose of providing life insurance and annuities for members of the United States Navy, United States Marine Corps, United States Coast Guard, U.S. Public Health Service (USPHS), the National Oceanic and Atmospheric Administration (NOAA), and their families.
Membership for the past decade has averaged 105,000 members. As of November 2011, Navy Mutual Aid Association had over 112,000 military members (Active, Reserve and Retired) and families insured; by 2015, the number of insured plans had increased to over 139,000 with a member retention rate of 97.3%. For twelve consecutive years ending in 2015, Navy Mutual has earned a Fitch Insurer Financial Strength (IFS) rating of A+, with a Stable Rating Outlook.
The Navy Mutual Aid Association was established on July 28, 1879, during a meeting of U.S. Navy officers at the Navy Department in Washington, D.C. In recent years, Navy Mutual has been headquartered in Arlington, Virginia.
Until 1920, only those officers of the Navy and Marine Corps on the active list were eligible for membership. Temporary and Reserve officers, both active and inactive, under forty-five years of age, became eligible in 1920. Membership was extended to officers of the U.S. Coast Guard in 1925. Female officers of the United States Navy became eligible in 1947. Additional eligibility included commissioned officers of the U.S. Public Health Service (1963) and the National Oceanic and Atmospheric Administration (1972), enlisted personnel of the Navy (1980), U.S. Marine Corps and United States Coast Guard (1980), and retired personnel of the sea services (1993).
In 1942 and 1950, membership was closed due to the entrance of the United States into World War II and the Korean War, respectively. Membership was re-opened shortly after both wars ended.
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