Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jun 9, 2021

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Company Details
Address: 9800 Fredericksburg Rd.
City: San Antonio
State: TX
ZIP Code: 78288
Phone Number: 800-531-USAA (8722)
Company Rating 0 (0 reviews)
The Facts of Life

  • USAA writes policies under USAA Life Insurance Company and the USAA Life Insurance Company of New York
  • USAA life insurance is only available to service members and their families
  • All USAA life insurance providers require a medical exam

America’s heroes are always given the best when offered — which is why USAA strives to make U.S. veterans feel secure. USAA life insurance is a product written under USAA Life Insurance Company and USAA Life Insurance Company of New York.

USAA term life insurance and permanent life insurance options give policyholders peace of mind after they’ve passed away. This type of insurance can help supplement income, cover final expenses, pay off debts, or leave an inheritance. But, you know that that’s life insurance 101.

USAA life insurance quotes are known for being very affordable, but is it the company for you?

Before jumping into this USAA life insurance review, enter your ZIP code to get started.

About USAA Life Insurance Company

USAA was founded in 1922 after 25 United States Army officers built their own auto insurance company. Since then, USAA has grown into a nationwide membership of military members and their families.

You can call customer service at 800-531-8722.

Is USAA life insurance for the military only?

Despite being one of the highest-rated insurance providers in the United States, USAA is only available to those in the armed forces. The person in the armed forces must initiate the policy.

USAA  membership benefits are:

  • Family Discount
  • Length of Membership
  • Military Installation

USAA members can add their spouse and children to the auto insurance policy; this includes ex-wives and household dependents of the service member.

Biological and step-children and spouses will remain USAA life insurance members, even after the servicemen has passed away. These family members, though, cannot join retroactively after the military member has died.

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What available life insurance policies does USAA have?

USAA has two types of life insurance policies: permanent and term.

Term life insurance from USAA is available to anyone between 18 and 35. Terms are up to 30 years. After you’ve had a child or bought a house, your insurance can be expanded to another $100,000. Children can be covered under this policy for $8 a month.

Active-duty military members receive additional benefits, including:

  • Coverage during wartime
  • $25,000 to help with expenses caused by a severe injury
  • Guaranteed coverage after leaving the military

Permanent life insurance is a lifetime-long insurance policy. This type of USAA life insurance coverage builds interest over the years and can help pay for more needs than a term life policy. Some common uses for this policy are:

  • Final expenses
  • Leaving a legacy
  • Policy inheritance
  • Estate saving

Permanent life insurance from USAA is an extensive policy option that includes many variants and add-ons.

Keep reading to learn more about the USAA Life Insurance Company.

Are there any available riders?

Yes. When you buy USAA life insurance, you may add supplemental insurance packages to suit your needs better. Life insurance riders, or endorsements, are customizations and adjustments to coverage for individual situations.

USAA offers:

  • Child riders
  • Life event options
  • Military Future Insurability
  • Military Severe Injury
  • Premium waivers

These are standard riders, with the exception of the military-focused options. The Military Future Insurability and Severe Injury riders expand covers when you exit the military when you’re too hurt to perform your military duties.

Learn more about what others are saying about USAA.

What are the pros and cons of USAA life insurance?

While the pros and cons will fluctuate with what USAA life insurance rates you can afford and what coverage you need, it’s not up for debate that USAA has fantastic products.

Those who have reviewed USAA life insurance policies find that the policy amounts are the most competitive amongst companies. Coverage amounts can be as much as $10 million, depending on your eligibility.

Beneficiaries have also noted that the Survivor Relations Team is a significant pro to USAA life. This team is assigned to you after the passing of the policyholder and helps you adjust financially.

Some cons are that USAA only takes military families, so civilians can’t take advantage of these USAA life insurance rates. USAA also requires medical exams for all of its policies.

Does USAA have competition? 

The short answer to this question is, yes, of course. However, USAA is the only company that serves military families only. If you are not in the military, you cannot get a life insurance policy from USAA.

On the flipside, military members, obviously, can get find affordable life insurance from other companies. But USAA is the cheapest insurance company, in general, for veterans and their families.

Check out the table below to compare the top life insurance companies in the United States.

Average Monthly Life Insurance Rates by the Top Companies
CompaniesAverage Monthly Life Insurance RatesA.M. Best Rating
Banner Life$9A+
Principal$9A+
Protective$9A+
Guardian Life$10A++
MassMutual$10A++
Haven Life$11A++
New York Life$11A++
John Hancock$11A+
Mutual of Omaha$12A+
Nationwide$13A+
State Farm$15A++
Allstate$15A+
Prudential$16A+
Northwestern MutualN/AA++
Pacific LifeN/AA+
PrimericaN/AA+
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Those in the military should take advantage of USAA’s affordable life insurance rates.

USAA Third-Party Ratings 

USAA usually ranks in a league of its own. This status is because it services a particular group of people. However, the third-party rating systems in the insurance world, like J.D. Power, find that customers are satisfied with their coverage time and again.

As far as financial standings, AM Best gave USAA an “A++” in 2020 for its financial strength. This score is the best a company can achieve.

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Get a USAA Life Insurance Quote

USAA is the best-designed life insurance option for veterans. USAA offers more than just life insurance. It also provides veterans, active military members, and their families all types of coverage, including car, flood, and small business insurance — and many others.

Now that you’ve finished this USAA life insurance review, enter your ZIP code to get started comparing life insurance quotes from companies in your area.