When a loved one passes away without life insurance coverage, the expenses only add to the stress and emotion of what’s going on.
It’s crucial for anyone in the market for a life insurance policy to get the right amount of coverage, and the right term length, at the best price.
There are plenty of options to consider from hundreds of different companies. With so many choices, it can be difficult to know which is best.
USAA is a popular brand, but is the company a good pick for your life insurance needs? Find out in this USAA review.
In this review:
Does USAA Offer Life Insurance?
USAA is well-known among the military, but many people who are not affiliated with the military haven’t heard of USAA life insurance.
Of the many affordable term life insurance providers available today, USAA is one of the most consistent and best life insurance companies in America.
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.
Is USAA a Good Company?
Despite its size, USAA receives very high ratings from the insurance industry and its customers for being managed well and processing claims without delays.
USAA also has a great reputation for customer service, reliability, and for offering good rates with very few restrictions.
Pros & Cons 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’s advantages and disadvantages.
Pros
If you’re a person who wants to have all of your plans in one place, it’s hard to find a company with more insurance or financial products.
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 bundle all of your insurance products including life insurance, auto insurance, flood insurance, and more.
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.
Cost
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. Many of our clients find USAA to be one of the most affordable choices.
Not everyone has eligibility to join USAA, but if you do, you can save a lot of money on your life insurance coverage.
The cost of the plan is going to depend on your age, health, and other factors.
Cons
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.
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.
Eligibility & Requirements
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.
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.
These policies can be a good choice for anyone who is being deployed. 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 it is still important to shop around before choosing the company that you will use for your life insurance.
Compare USAA Life Insurance Rates
You should always compare dozens of companies before you make a life insurance choice, and today it’s easy to compare quotes online.
Unlike traditional life insurance agents, independent agents (like ourselves) represent dozens of life insurance agencies across the United States. 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.
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 and determine if you have any special circumstances.
If you aren’t eligible for USAA, that’s okay, we can connect you with one of the other affordable choices.
