USAA Life Insurance Review

Flexible life insurance policies customized to the needs of military people and their families are available at competitive rates from USAA. In contrast, if you aren’t a member of the military, you may have fewer alternatives for employment.

Pros and Cons USAA

Pros

USAA Life Insurance Review - USAA Life Insurance Logo
  • Having a good reputation with customers
  • Catastrophic injury compensation is also offered.
  • After a major life event, consider purchasing additional insurance.

Cons

  • In New York City, several types of insurance are not accessible.
  • Those who aren’t in the military have fewer options and may have to pay more.

USAA Life Insurance Rates

For a $500,000-20-year term insurance for a healthy couple, USAA’s online quote tool provided us with a sample rate of 2021. Life insurance premiums at USAA are lower than the national average for policies of this size and term.

  • Age 20. Male $19.57, Female $17.90
  • Age 25. Male $19.57, Female $17.90
  • Age 30. Male $21.24, Female $18.32
  • Age 35. Male $22.90, Female $19.99
  • Age 40. Male $32.49, Female $27.49
  • Age 45. Male $52.07, Female $39.57
  • Age 50. Male $82.90, Female $62.90
  • Age 55. Male $129.88, Female $98.73
  • Age 60. Male $222.90, Female $153.73

What affects my rate with USAA

Estimating life insurance premiums is challenging due to the large number of variables that go into the process of underwriting. In order to save money on your life insurance, it’s as simple as adopting the healthiest possible way of living.

For the best insurance rates, consider these general health and lifestyle suggestions:

  • In the previous two to three years, smoking has been avoided or limited.
  • There have been no family deaths from cancer or heart disease.
  • Drugs and alcohol have been out of my life for the past five years.
  • The optimal HDL-to-total cholesterol ratio is 6.0 while the ideal total cholesterol level is 240.
  • A reading of 140/90 millimeters of mercury is required.
  • Five years’ worth of spotless driving records, free of DWIs, DUIS, suspensions, and other crimes.

How to get a quote from USAA life insurance

Consult a Specialist by clicking here to view the USAA life insurance website.

  1. After that, you’ll be asked for information like your birth date, gender, where you live, and whether or not you’re currently serving in the military.
  2. Afterwards, click the Send button after answering a few health-related questions.
  3. After that, you’ll receive a no-obligation pricing quote. In order to customize your quote, you may change the amount of coverage and how long the insurance is in effect. After you’ve finished reading the quotation and are pleased with it, click the Continue button.
  4. Alternately, you can save the webpage where you obtained the quotation and return to it at a later time.
  5. If you’re already a member of USAA, you may log in and continue the application process. In order to proceed, you will need to join unless you are already a member.

What types of life insurance coverage does USAA offer?

As a specialist in military-specific life insurance for service personnel, their wives, and children who are dependent, USAA sets itself apart from other insurers in the industry.

It’s possible to get coverage for the duration of your service in the military or for the duration of your retirement with a variety of policies.

  • Term life insurance. Term life insurance, one of USAA’s most cost-effective products, provides a fixed amount of coverage for 10, 15, 20, 25, or 30 years, depending on the term selected.

A 20-year best-class insurance policy starts at an advertised $14.51 per month for the duration of the policy. In addition, you’ll be able to purchase additional coverage while in the military, as well as a guaranteed SGLI replacement after you leave the service.

  • Term Life. In the case of a disagreement and important life events, the policy can be turned into a long-term policy.
  • Life insurance for military personnel on a term basis. The replacement of SGLI as well as enhanced security for major life events and catastrophic injury benefits are all guaranteed.
  • Whole life insurance. USAA’s whole life insurance protects your family in the event that you are no longer able to financially support them. Starting at $84.57 a month for a 20-year best-class insurance plan, coverage and expenditures stay unchanged as long as you continue to pay your monthly. You have the option of paying premiums for the remainder of your life or for the next 20 years, up to the age of 65. Your beneficiaries may get more money if you pick this option over term life insurance since the cash value of the policy grows over time.
  • Universal life insurance. When it comes to designing a comprehensive financial plan, universal life insurance is the most adaptable option because of the numerous configuration options it provides. It costs $73.89 per month for a 20-year best-class coverage, which is similar to whole life insurance. True, premiums and payment schedules may be tailored to suit your individual circumstances. As with whole life insurance, your cash value grows over time. But the allocation of premiums has an influence on the company’s future growth. You have the option of taking out a loan from your policy’s cash value if you need it.

Does USAA offer burial insurance?

Your loved ones can utilize any insurance money to pay for your funeral, burial, and any other last expenses despite the answer being no. Your loved ones may be relieved of financial hardship thanks to USAA’s pledge to pay out permanent coverage claims within 48 hours, on average.

What riders can I add to my policy?

With USAA, military people may choose comprehensive life insurance policies that are tailored to their needs and go above and beyond the offerings of other insurers.

Because no insurance policy can cover all of your needs perfectly, you may customize your coverage by adding any of the following riders that are uniquely available to USAA members.

  • Accelerated death benefit rider. In the event of a terminal illness, you may be eligible for an early payout under this insurance.
  • The accidental death rider. As a result of an accidental death, this coverage provides extra compensation.
  • Parents and children are among the passengers. Keep your loved ones protected within your policy so you don’t pay for additional insurance.
  • A rider that secures your financial security no matter what. After a big life event, such as a marriage, baby, or home purchase, you can opt to increase your coverage by $100,000 without undergoing further underwriting.
  • Survivor benefits for military personnel who have been seriously injured. If you suffer a life-threatening injury while on the job, you’ll be compensated with $25,000 in damages.
  • Term insurance rider. Extra insurance can be purchased on top of your permanent coverage for a short period.
  • Riders agreeing to pay less than the advertised fee. You won’t have to pay premiums if you’re unable to work because of a disability.

It’s possible to learn about additional insurance options from a USAA life insurance agent.

USAA life insurance reviews and complaints

As of this writing, USAA has a BBB rating of 3.8 out of 5, which takes consumer reviews into consideration as well as the company’s own internal rating system, which also takes into account criteria such as longevity and business practices. Ratings from the Better Business Bureau are less than positive for more than 270 of the company’s 300 customers. USAA product evaluations do not simply relate to life insurance; they also apply to the complete USAA product lineup.

Customers routinely give excellent scores to customer service and affordable costs in user evaluations. A+ overall grade is given to USAA by the BBB, despite a number of unfavorable reviews on its website.

Visit our review of Unum Life Insurance Review for one more insurance review.