A large financial strain you never want to have is when a loved one passes away without life insurance coverage. The expenses only add to the stress and emotion of what’s going on.
Of course, it’s crucial for anyone who is in the market for life insurance to make sure they pick the policy that is right for them. This means getting a low rate, the right amount of coverage, and the right term length.
There are plenty of options when it comes to the type of policy you might want to consider, as well as hundreds of different companies you can choose from, which means that the options are limitless.
With so many choices, it can be overwhelming trying to find the perfect insurance plan for your family.
Because there are so many companies to choose from, it can be difficult to know which one you should go with. One of the popular options for life insurance is USAA, but just because a lot of people have purchased life insurance through them, doesn’t mean that they are a good pick for your life insurance needs.
Fortunately, there are a lot of term-life insurance providers available today, and USAA is one of the most consistent and best life insurance companies in all of America. This company is well known among the military, but many people who are not affiliated with the military haven’t heard of them. USAA was started in 1922 by twenty-five army officers in San Antonio, Texas who agreed to provide insurance coverage for each other’s vehicles. Today it is a highly-rated banking and insurance company with over seven million policyholders.
Despite its size, USAA has received very high rating from the insurance industry and its customers for being managed well and processing claims without delays. They also have a great reputation for customer service and reliability. They also have a reputation for offering good rates on their policies with very few restrictions.
Advantages of USAA Life Insurance
To make an educated decision about your life insurance, you need to know the best and worst of each company. You have to know the good and the bad. Let’s look at USAA.
All the Options
As a customer of USAA, you’ll have options – plenty of options.
One of the benefits of being a member of USAA is you can buy all of your insurance and financial products from one place. USAA sells life insurance, auto insurance, flood insurance, and more.
If you’re a person who wants to have all of your plans in one place, USAA is one of the best places. It’s hard to find a company with more insurance or financial products.
Every company gives you a discount for “bundling plans” – which basically means buying more policies from the same company. The more plans you buy from them, the bigger your discount can be.
One of the main reasons USAA has so many customers is because of their cost.
If USAA isn’t the cheapest, it’s going to be close. When we are working with our clients, a lot of them find USAA to be one of the most affordable choices.
Sure, not everyone has eligibility to join USAA, but if you do, you can save a lot of money on your insurance coverage – and not just with life insurance.
The cost of the plan is going to depend on your age, health, and other factors. In most cases, USAA is going to be cheaper than their competition.
Disadvantages of USAA Life Insurance
There are bad sides to every company. As much as we would love to have a “perfect” company where they do everything right all of the time, this doesn’t exist.
You need to know as much about the bad as you do the good.
USAA for Pre-Existing Conditions
This means that USAA is a good choice for someone who needs a policy without combat death exclusions, but the company is not so great for people who have health issues. In this area, the company’s guidelines for underwriting can be very strict.
Because the company is so large, it can be hard to get them to deviate from these guidelines. But, if you’re going to be deployed overseas, USAA could be one of the best options available, because, with some life insurance companies, you would automatically be declined because of the high-risk classification.
If you’re an applicant that is in poor health, or you have a preexisting condition, don’t assume that you won’t be able to get insurance coverage. You may not be able to get life insurance through USAA, but there are still other options.
Lack of Choices
Furthermore, USAA life insurance is only available through their company`s sales agents. It is not offered through brokers who offer life insurance policies from a variety of companies so that they can offer their customers the lowest rate. In a lot of cases, this means that people are not able to compare the policies they get from USAA very easily with policies they can get from other life insurance providers.
Most importantly, USAA life insurance policies are only available to people who serve in the military or who have a direct relative who is a USAA member. For anyone that falls under these categories, USAA could be a great option depending on your health and how much life insurance that you want to buy, but you should always compare dozens of companies before you make a life insurance choice.
Keep in mind, of course, that USAA is not the only choice for someone who is in the military. While the policies can be a good choice for anyone who is being deployed, it is still important to shop around before choosing the company that you will use for your life insurance.
Bottom Life of Buying Life Insurance
The best way to do this is by spending some time talking to an independent life insurance agent.
Unlike traditional life insurance agents, independent agents (like ourselves) represent dozens of life insurance agencies across the United States, which means that we can help you compare multiple insurance policies at once.
Sure, USAA is a great option for a lot of military members, but it’s not the only option. For example, Prudential offers life insurance for military members, even with deployment papers, and usually, have better pricing than USAA.
Feel free to contact us directly by phone, by email, or even getting a quote directly on this page.
Our agents would be happy to talk to you about USAA life insurance or any of the other 30 companies we’ve partnered with. We can see how much coverage you need, determine if you have any special circumstances, we would love to explore those options.
If you aren’t eligible for USAA, that’s okay, we can connect you with one of the other affordable choices.