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Financial Awareness Service (FAS)
AFSC's Financial Awareness Service (FAS) provides a great starting point for determining your survivorship's financial posture.
The key to this process, and the first step of Financial Awareness, is collecting the information from you. We build an inventory of current investments in our database and verify your service data to determine whether continual benefits payments plus any lump-sum payments will be sufficient to provide for your survivors' needs.
Our Financial Awareness Service, along with our Familiy Information Record (FIR) Benefit Report integrate three sources of your family's financial security:
- Government benefits
- Life insurance
- Investments
Our unique system capability displays the following as an integrated stream of payments:
- Your family's Social Security coverage
- Survivor Benefit Plan (SBP) annuity payments
- Department of Veterans Affairs (VA) benefits
- Civilian pensions of your surviving spouse
In addition, we show lump-sum payments can be used to meet current and future family needs:
- The government (such as Social Security or a service death gratuity)
- Life insurance policies
- Investments
Click here to download an example FAS
Here's how you benefit from the Financial Awareness Service:
- At the time of your passing, your surviving spouse and family, under enormous emotional stress, will not have to search and compile your financials. The FAS serves as invaluable inventory of your finances for use by your surviving family and executor, if needed.
- You will see, in one document, the value of your government benefits, life insurance, savings and investments.
- You will see, perhaps for the first time, the value of your entire U.S. Savings Bond holdings including the current redemption value of each bond.
- You will see your financial position, shown in a concise, readable report. Your portfolio mix is shown by investment category.
- You will possess a tool, updated by you, to monitor your own financial progress and to make decisions regarding your future financial security.
While we think you will agree that our FAS is a powerful, useful financial planning tool and a significant, value-added part of your membership, there are some things that the FAS will not do:
- Will not sell or recommend financial products, services, or organizations
- Will not recommend a specific portfolio mix
- Will not recommend buy or sell actions
- Will not manage money
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