USAA Life Insurance

The company has expanded throughout the years, offering more than one insurance coverage. It is renowned for its diverse terms for its customers and working employees. To create a diverse workforce and client base, the company works with various organizations and institutions to maintain its Affirmative Action Programs. To attain the membership of USAA Life Insurance, you must meet several criteria, which are as follow:

Must be the active, honorably separated, or retired officer and enlisted military personnel of the United States.
Adult children of the military personnel or USAA members who have or had auto or property insurance policy.
Former spouses, widows, and widowers of the USAA associated personnel who have or had a USAA auto or property insurance policy at the time of marriage.

Other than that, if you have any doubt regarding the insurance policy, you can reach out to LifePlans. It is one of the best organizations that provides information regarding insurance policies. For further information, you can reach out to us!

Available Insurance Plans

USAA provides three life insurance plans: term, whole, and universal policies. There are many options available for you, and you can choose one which suits your requirement the best. If you are a member of USAA, you can get quotes for all three policies.

Term Life Insurance

The term life insurance coverage lasts for a limited period. During this time, your coverage amount and premiums will remain the same. Your beneficiaries will only receive a death benefit if you pass away. It has a term of 10, 15, 20, 25, and 30 years. The added advantages include guaranteed coverage after the separation with the military, converting permanent policy, %25,000 payment coverage if suffering from an injury while serving the country.

Universal Life Insurance

Universal Life Insurance includes a death benefit with a cash value. You can modify your plan to meet your daily needs in this policy. It offers a guaranteed minimum interest of 2%. With this policy, you can get many coverage sizes. Also, it is not available for the residents of New York.

Whole Life Insurance

Whole life insurance means permanent coverage that goes on for the entire life. As long as you pay the premiums, your policy remains in force, and your death benefit will not change. After a period, the policy builds tax-deferred cash value, which you can use while you are living to pay for your children’s education and other expenses. You can choose to make the payment for approximately 20 years, till you turn 65 years.

USAA life insurance information
Advantages

Advantages Of USAA Life Insurance

The USAA Life Insurance has high customer satisfaction rates as per the National Association of Insurance Commissioner in 2020.
One gets a free quote for any of the company’s life insurance products online, along with applying without having a conversation with the agent.
It offers special term life options to minors. Those injured while serving military duties can buy coverage for their child aged 18 or under for just $8 per month. Also, this policy can be converted for the whole life until it turns 18.
It provides special benefits to the active serving members by guaranteeing that the company will provide a health benefit to military personnel and their families.
Policies

Available Riders

USAA has multiple insurance riders, which are also called endorsements. You add these riders to your life insurance policies. However, you can also enhance, customize, and adjust your coverage policy terms. You can enhance coverage for certain scenarios or add covered family members. Now, let’s have a look at the riders:

  • Life Event Option: If you add this rider to your policy, you can qualify for additional insurance without going through any medical exam after a major life event. Those events include getting married, having a baby, buying a home, etc.
  • Child Rider: If you have a term policy, you can add a child rider to your plan. Once your children are old enough, you have the option of converting their insurance into their permanent policy apart from their health.
  • Waiver Of Premium: Along with the whole life policies, you can add a waiver of premium rider to your policy plan. If you are unable to work, your insurance premiums will be waived. It is available for policyholders aged between 15 to 55.
  • Military Severe Injury Benefit: The military severe injury benefit will provide you with $25,000 to help you with expenses if you encounter injuries while serving your military benefits. Also, this rider is not available for the residents of New York.
  • Military Future Insurability Rider: With this rider, you get the option of increasing your insurance coverage even after the separation from the military.
Disadvantages

Disadvantages Of USAA Life Insurance

There are no final expense policies available. Some people prefer basic policy over their final expenses. These plans are highly affordable and can be purchased without medical exams.
You need to be a USAA member or have a background of a militant family to qualify for the insurance.
All the insurance policies offered by the USAA need a medical exam.
USAA life insurance guide
Pricing

Pricing Methodology

When we talk about USAA, it is competitive and transparent. However, in some cases, you can get a quote line without being a member of USAA. However, the cost will be determined after completing the medical exam and health & lifestyle questionnaire.

Benefits

USAA Life Insurance Reviews

 USAA has been working since 1922, serving the associated military people and their families. Its auto insurance is only available to military personnel, veterans. It is considered one of the best options for military families in Insider’s guide to the best car insurance companies. USAA offers full liability and coverage to the members. Besides, it also features a safe driving program with discounts. It also offers discounts for good students, completion of driver’s training courses, safe drivers, and vehicle storage. USAA also offers bundling home and auto insurance discounts like many other insurance companies.

Conclusion

Getting USAA Life Insurance is simple, but if you are not a veteran, USAA member, or a qualified family member. While looking for life insurance coverage, there are various aspects you need to look after. It is always best to contact an organization, which is reputed and authorized. If you are in the process of seeking life insurance details, LifePlans is the ideal choice for you. We have been serving the customers for several years, and we can assist you in finding what is best for you!