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USAA Life Insurance Review

Reviews 2,796
USAA
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USAA
USAA
Poor
Reviews 2,796
Bestmoney Staff
Jun. 19, 2024
2 min read
BestMoney Staff
USAA Summary
USAA, founded in 1922, offers comprehensive term life insurance policies designed primarily for military members and their families. Known for its competitive rates and excellent customer service, USAA provides term life insurance that stands out due to its military-specific benefits and flexible coverage options.

Pros

  • Competitive rates
  • Military-specific benefits
  • Excellent customer service

Cons

  • Available only to military members and their families
  • Limited online application process

USAA at a glance

9.2
Editorial score

Coverage type

USAA offers term life insurance with coverage periods ranging from 10 to 30 years, providing death benefits that can go up to $10 million depending on the policy.
8.0

Customization of policies

USAA's term life policies are customizable. Policyholders can choose coverage amounts and term lengths that suit their needs. Additionally, there is an option to convert term policies to permanent coverage without a medical exam.
10.0

Customer services and support

USAA is known for its outstanding customer service. Members can access support via phone, online chat, and through their website. Their support is available Monday through Friday from 7:30 AM to 8 PM CT, and Saturday from 8 AM to 5 PM CT.
8.0

Online experience

The USAA website offers resources and tools to help members understand their insurance needs. However, the online application process for term life insurance is somewhat limited, requiring additional steps to complete the process via phone or with an agent.
10.0

Direct insurer?

USAA is a direct insurer, providing policies directly to members without the need for intermediaries.
10.0

Who Can Benefit From USAA?

USAA term life insurance is particularly beneficial for military members and their families. The policies are tailored to meet the unique needs of military life, including coverage during deployments and war. Additionally, former military members and their families can also benefit from USAA's policies, ensuring long-term financial security.

Features

USAA's term life insurance includes a range of features designed to offer flexibility and peace of mind:

  • Flexible Term Lengths: Choose from 10, 15, 20, 25, or 30-year terms.

  • Convertibility: Convert term life policies to permanent life insurance without a medical exam.

  • Accelerated Benefits: Access a portion of the death benefit if diagnosed with a terminal illness.

  • Military-Specific Benefits: Coverage includes benefits during active duty, war, and while on deployments.

Application Process

Applying for USAA term life insurance is straightforward but may require some additional steps compared to other online insurance providers:

  1. Online Quote: Start by getting an online quote on the USAA website.

  2. Phone Consultation: Complete the application process by discussing options with a USAA representative over the phone.

  3. Medical Exam: Depending on the policy and coverage amount, a medical exam may be required.

  4. Approval and Policy Issue: Once approved, the policy is issued, and coverage begins.

Policy Types and Terms

USAA offers several term life insurance policies with varying term lengths and coverage options. Policyholders can choose from:

  • 10-Year Term: Ideal for short-term needs or those nearing retirement.

  • 20-Year Term: Popular choice for those with young families needing long-term protection.

  • 30-Year Term: Suitable for individuals seeking maximum coverage duration.

How Safe Is It?

USAA employs robust security measures to protect member information. Their website is SSL encrypted, ensuring all transactions and data are secure. Additionally, USAA has a strong financial rating, indicating stability and reliability.

Help & Support

USAA provides comprehensive customer support, available through multiple channels:

  • Phone: 1-800-531-8722 (Monday to Friday, 7:30 AM to 8 PM CT; Saturday, 8 AM to 5 PM CT)

  • Online Chat: Available through the USAA website

  • Email: Accessible through the member portal on the USAA website

  • Physical Address: 9800 Fredericksburg Road, San Antonio, TX 78288

Bottom Line

USAA's term life insurance is an excellent option for military members and their families. With competitive rates, military-specific benefits, and robust customer support, it offers reliable and comprehensive coverage.

FAQs

  1. Who is eligible for USAA term life insurance?

    • Active, retired, and separated military members and their families.

  2. Can I convert my term life policy to a permanent policy?

    • Yes, USAA offers convertibility options without a medical exam.

  3. Does USAA cover deaths related to military service?

    • Yes, USAA covers deaths related to military service, including during deployments and war.

Methodology

This review was created with information from:

  • USAA Website

  • Customer reviews on Trustpilot and comparison sites

  • Direct communication with USAA customer service




Having explored the features and benefits of this product, you might be curious about how it stacks up against its competitors. We encourage you to visit our comprehensive comparison chart for a broader perspective. This chart offers a detailed juxtaposition of this product with other leading brands, highlighting differences in features, pricing, and customer ratings. It’s an invaluable resource for contrasting your options and making an informed decision that best suits your needs. Don’t miss out – take a moment now to view our comparison chart and see how your chosen product compares in the wider market.

AI was used in the generation o

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.
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Trustpilot reviews
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