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finder.com's rating: 3 / 5
★★★★★
18 to 85
Issue Age
$100,000 to $10,000,000
Coverage
Depends on policy
Medical Exam Required
Policies | Term, Whole, Universal |
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Coverage maximum | $10,000,000 |
Term lengths | 10, 15, 20, 25, or 30 years |
Medical exam required | Depends on policy |
Available states | All 50 states |
Issue age | Not listed |
Riders |
Accelerated death benefit rider Accidental death benefit rider Child rider Guaranteed insurability rider Spouse rider Term insurance rider Waiver-of-premium rider |
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Review by
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
For military members and the families who love them, USAA offers competitive rates on flexible life insurance policies designed with your lifestyle and needs in mind. But if you’re not a member of the military, you might find better options.
While many providers shy away from insuring members of the military, USAA focuses on life insurance policies designed for members of the military and their families
Whether you’re looking for temporary coverage while deployed or extra help for retirement, a strong lineup of term, whole and universal life insurance policies should suit your needs.
Among the most affordable options USAA offers, term life insurance provides a fixed amount of coverage over a specified term of 10, 15, 20, 25 or 30 years.
Starting at an advertised $14.51 a month for a 20-year best-class policy, payments and coverage remain consistent over your term. And you can opt for additional coverage while deployed and a guaranteed Servicemembers’ Group Life Insurance (SGLI) replacement after you leave service.
USAA’s whole life insurance is its most simple type of insurance, offering lifetime coverage to protect your family when you’re no longer able to provide for them. Coverage and costs start at $84.57 a month for a 20-year best-class policy, remaining the same over the life of your policy that’s active as long as you continue paying your premiums.
Flexible payment options allow you to choose paying premiums for 20 years, until you’re age 65 or for the life of the policy. This option is more expensive than term life, but your policy’s cash value grows over time, potentially providing a bigger payout to beneficiaries.
The most versatile option, universal life insurance provides adjustable options to incorporate the policy into your overall financial plan. Costs are similar to whole life insurance, starting at $73.89 a month for a 20-year best-class policy. But you can adjust premium amounts and payment schedules to fit your goals.
Like with whole life insurance, your cash value grows over time. But the growth potential is influenced by your allocation of premiums. You’re provided more control of your money with the option of borrowing from your policy’s cash value, if you need it.
No — but your beneficiaries can use the payout from any policy to cover your funeral and burial costs, as well as any other end-of-life expenses. USAA says it often pays out claims for permanent policies within 48 hours, which may alleviate the financial burden on your loved ones.
USAA’s comprehensive life insurance policies are designed specifically for members of the military, typically providing coverage beyond what other insurers offer.
But because no policy can fit your exact needs, you might want to tailor your coverage with any number of riders available to USAA members:
Talk with a USAA life insurance rep to learn more about other riders that can cover what life throws your way.
It’s tough to estimate life insurance rates, what with the variables that go into underwriting. In short, the best way to get the lowest life insurance rates is to live the healthiest lifestyle you’re able to.
General health and lifestyle guidelines for premium rates include:
As of this writing, USAA earns a 3.8 out of 5 from the Better Business Bureau (BBB), which weighs reviews against its own internal rating system that also considers longevity and business practices, among other elements.Of the 300 customer reviews on the BBB’s site are more than 270 negative reviews that cite troubles with account security, communication and payments. Keep in mind that reviews cover all products USAA offers, not only life insurance.
Positive reviews focus on solid customer support and competitive rates. And despite the negative reviews on its site, the BBB gives USAA a glowing A+ rating overall.
USAA collects your personal data in order to provide you assistance and offer you products and services that match your needs.
Your information is not sold to third parties and is safeguarded with rigorous security procedures and world-class virus and intrusion detection software.
From USAA’s life insurance homepage, click Get A Quote.
A USAA representative will contact you about your approval status. If approved, register your new policy online so you can manage your policy and take advantage of features such as autopay.
Originally founded by a group of U.S. Army officers to help military members get car insurance coverage, USAA is best known for its commitment to protecting its members and their families.
Its products are designed to suit the financial situations of active and former military members driven by unique underwriting niches and tailored coverage.
In addition to life insurance USAA offers a wide selection of financial products that include:
USAA’s policies give you access to an online system through which you can manage your account, file a claim and more.
Start the process of filing a life insurance claim with USAA by logging in to your account. You’ll need information that includes:
You’ll also need to submit a copy of the death certificate from your funeral director or county health department soon after filing your claim.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.