USAA Life Insurance Review 2020


USAA life insurance
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Serving in the military is a patriotic and honorable occupation. But it’s definitely not always the safest job someone could choose. Especially if you have a family who depends on you financially.

What happens to your family if something horrible happens to you? That frightening reality is why every service member should have life insurance.

However, finding the right life insurance company isn’t always as easy as it might seem. You want to find a company that understands what it means to serve your country and doesn’t increase premiums for doing so. This is why many active and non-active military personnel tend to choose USAA for their life insurance.

But does that mean that USAA life insurance is always the right choice for every military personnel and their families? It helps to know the facts before you choose which policy and which company to work with.

Our 2020 USAA life insurance review can help you choose the right company for all your life insurance needs.

Facts About USAA Life Insurance

USAA was formed in 1922 in San Antonio, Texas by a group of 25 US Army Officers. Unable to obtain car insurance because they were determined to be “too high risk” they decided to take matters into their own hands and would insure each other’s automobiles.

Their first member was Major Walter Moore who purchased his policy for $114.74. Thus the United States Automobile Association (USAA) was born.

From those humble beginnings, USAA has grown to become one of the largest and most respected insurance companies in the nation. Here are just a few facts about USAA.

  • Military Personnel, their spouses, and their dependents are all eligible for membership
  • 4th largest automobile insurer
  • 4th largest home insurance company
  • Fortune 500 company

USAA doesn’t just provide a wide variety of insurance needs to its members. They also offer financial services such as:

  • Checking accounts
  • Savings accounts
  • Credit cards
  • Loans

With so many services and products to offer, it’s no wonder why USAA seems like the go-to choice when looking for life insurance. But that’s not always the case. Here’s why.

What Are the Benefits of USAA Life Insurance?

USAA offers a lot of benefits when it comes to life insurance. Primarily, because they offer a lot more than just life insurance. Here are some other insurance products offered.

  • Home Insurance
  • Renters Insurance
  • Automobile Insurance
  • Property Insurance
  • Business Insurance
  • Long Term Care Insurance

That’s not all. USAA life insurance also offers the following benefits.

  • Good Customer Service
  • Accelerated Review if Being Deployed Soon
  • Severe Injury Benefit
  • No war clause
  • No medical exam for those returning to civilian life
  • Military Future Insurability Benefit

Why USAA Life Insurance May Not Be the Best Choice

USAA life insurance offers a lot of benefits, but that doesn’t mean they are the perfect choice for everyone. Here are a few reasons why USAA may not be the best choice for you and your family’s needs.

Fewer Choices

If you choose to have USAA life insurance you could be limiting what choices you have with your policy coverage. Here’s why.

Difficult to Compare Pricing

Most insurance is sold through brokers. The brokers have access to multiple policies and rates offer by different insurance companies. Meaning you can more easily compare rates.

With USAA life insurance, you can only speak to their sales agents who only know their own products. If you want to compare rates, you have to do the research yourself.

Not the Only Military Insurer in Town

Back in 1922, USAA was started because insurance companies didn’t understand the life of military personnel and their families. This simply isn’t the case today.

More insurance companies are beginning to offer products and services specifically tailored to accommodate the needs of those who serve our country.

Strict Health Guidelines

Applicants with pre-existing health conditions or who are in poor health may find it difficult to get a policy with USAA. They have extremely strict guidelines and because of their large size, it may be difficult for them to offer any flexibility.

Those with poor health may not be able to receive top-tiered services or have to pay extremely high premiums.

Slow Turnaround

While most insurance companies state that it will take 4-6 weeks to process a claim, often the turnaround is much quicker. Unfortunately, with USAA life insurance, they tend to be on the slower side than most other insurance companies.

Some companies can issue payment in just days so if you can’t afford to wait, USAA won’t be a good choice.

Not the Cheapest Insurance Choice

If you’re in excellent health, then USAA can offer competitive rates. But they are rarely the least expensive. Especially if you have pre-existing health conditions.

What You Need to Know When Buying Life Insurance

Luckily, USAA isn’t your only choice when it comes to ensuring your family is taken care of. But that doesn’t mean you should pick an insurance company based solely on their rates.

Here are a few other factors that will help you choose the right life insurance for your needs. Here’s what a good life insurance policy should include:

  • They cover military personnel
  • They’re licensed in your state
  • They cover any health issues you may have
  • Their premiums are affordable
  • The insurance company is reputable
  • The right policy

There are two types of life insurance: term and whole. Term life insurance is less expensive but only covers you for a specific period of time. It also doesn’t accumulate any cash.

Whole life insurance is more expensive but pays out whenever the person passes away. The cash also accumulates meaning it can be borrowed against or even withdrawn by the policyholder. There are are also three types of whole life insurance:

  • Universal life
  • Whole life
  • Variable life

When you serve in the military, you have a responsibility to give your best to your country and your family. So it’s vital to choose the best life insurance for their future needs. Having a company that can walk you through the process helps. Contact us to help you find the right life insurance today.

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Jeffrey Manola

Jeffrey Manola

Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance.

Not only does he strive to provide you with the best rates for your life insurance coverage, but he also wants you to be well informed about the different types of life insurance options that are available. You will also find a significant amount of valuable information on the multiple life insurance companies that can provide you with coverage.

Jeffrey Manola is licensed to provide expert advice and help aid in the purchasing process of life insurance products. He is licensed with the National Insurance Producer Registry (NIPR) in the following states:

AL: 790866 AR: 14358927 AZ: 14358927 CA: 0K29801 CO: 531038 CT: 002536246 DC: 3000281706 DE: 3000190912 FL: W383615 GA: 3089339 HI: 482421 IA: 14358927 ID: 646048 IL: 14358927 IN: 3100885 KS: 14358927 KY: DOI-986908 LA: 758187 MA: 2045330 MD: 3000011601 ME: PRN252004 MI: 14358927 MN: 40427014 MO: 8428106 MS: 10519253 NC: 14358927 ND: 14358927 NE: 14358927 NH: 2434852 NJ: 1562332 NM: 14358927 NV: 3299018 NY: LB-1484031 OH: 1117369 OK: 100293583 OR: 14358927 PA: 740709 RI: 3000183893 SC: 14358927 TN: 2383399 TX: 1969337 UT: 648983 VA: 987464 VT: 3426230 WA: 947010 WI: 14358927 WV: 14358927

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency. We want to help you save money, protect your future, and earn your trust (888) 777-7574.

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Life Insurance Rates?

Purchasing Life Insurance has never been easier

Or give us a call...888-777-7574