USAA Term Life Insurance Rates- Can you do better?
USAA Term Life Insurance Rates Compared to other carriers.
We speak to many individuals. Daily, weekly monthly. Non-stop basically. We also speak to many prior military and people who want to know about USAA. In particular they want to know about USAA Term Life Insurance Rates. Well, the good news. We are here to deliver the answers to you.
We have all seen the USAA Life Insurance commercial and advertisements. It’s no secret that they claim to be the go to life insurance carrier. Especially for veterans, active duty or retired military personnel.
Are they? We will get to that.
At Good Life Protection, through reviews, blogs and research we strive to bring the consumer value with an unbiased look at life insurance carriers. Not only the carriers themselves but behind the scenes looks at rates, complaints and positive feedback from consumers and professionals in the industry. We speak to many individuals who have been told or are frequently searching information on USAA Life Insurance Company or are looking for USAA insurance quotes
That’s all fine and dandy but always read before you buy which is why we are here to give some feedback on USAA Life Insurance.
For an overview review of USAA, check out our article “Our review of USAA Life Insurance” This article will give you an overall USAA life insurance review. For the meat and potatoes of the truth of USAA Life Insurance, continue reading and we will give you the 411 on what you need to know before making any life insurance purchasing decisions.
Is USAA Military Insurance or Traditional Life Insurance? How good is USAA Term Life Insurance Rates?
Relax, we will will get to the USAA term life insurance rates shortly but we have a few other items to cover.
What is military insurance? We aren’t really to sure either. Mainly because life insurance companies typically exclude war and combat zones from coverage.
This is one of the areas USAA life insurance beats the competition. They do cover you during tours and overseas active duty military deployment. USAA’s website specifically states that if in the event of your death, if it’s deemed that it’s caused by war or an act of terrorism, you are still covered.
That’s great. Here’s the kicker though. Most of you already have coverage through your Military and Armed forces insurance known as VGLI and SGLI. If you have no need for the additional coverage, this is really is no additional benefit at all. Yes, USAA could be considered the “Military Insurance” of the life insurance industry but that doesn’t necessarily make them the top pick to consider.
How Good is USAA Term Life Insurance Rates?
Let’s find out. Good Life Protection took a dive into the USAA insurance quote tool and ran the numbers against the competition from over 50 other major life insurance carriers?
Ready for your USAA insurance quote? Not so fast, but we will get there. Stay with us. We want to cover the basics first.
The USAA life insurance rates we are going to display to depend on your individual ability to gain coverage for life insurance. What do we mean? The same criteria that applies to other life insurance companies applies to USAA Life Insurance.
What Will be Considered?
Your Overall Health
Tobacco or Non-Tobacco Use
Preexisting Medical Conditions
Medications or a RX Report (Prescription Report)
Alright, let’s dive into some USAA quotes and USAA Term life insurance rates.
This is an image of the first step in obtaining your USAA quotes on your own. We don’t want you to have to go bouncing website to website though, so we will give you inside information.
Yes, USAA does make you enter in your Military status before moving onto step 2 which is where things get a little more personal.
Step 2 to obtaining your USAA term life insurance rates will ask you the following series of questions.
Will you be deploying overseas in the 90 days?
Are you a member of a military flight crew?
Do you have medical conditions such as cancer, diabetes, depression, heart disease, chronic breathing disorder, anxiety or yes even the big one for military personnel, PTSD?
Have you used tobacco in the last 12 months?
Has your mother or father passed away prior to age 60 from cancer or heart problems?
What is your Height
What is your Weight
If you answer no to the following questions, it will allow you and prompt you to enter your height and weight. Once you do that, you have unlocked your USAA Life Insurance Rates where they have a cool interactive tool allowing you alter coverage amounts and durations.
Keep in mind….
This is just for the USAA Term Life Insurance that we are talking about here.
Let’s break down what this USAA Term Life Insurance Rate Screen looks like for the user or consumer such as yourself.
USAA Term Life Insurance Life Insurance Rates
Preferred Plus Health
No Upcoming Deployments
The rate you are seeing displayed above would be for a USAA 20 Year Term. The coverage amount would be for 250,000.00
This is also for a Male- Age 38 with ZERO health concerns and a non-tobacco user.
You will also to see over to the top right that USAA advertises that it’s “free to begin an application”.
Don’t be fooled, that’s nothing special. It’s free to apply and underwrite your health including the medical exam with all life insurance carriers.
So how good is 19.15 a month for 20 Years, 250,000.00 coverage for a preferred plus health rating?
Not very. It’s more expensive than other carriers. Here’s alternatives to that pricing with other carriers.
Lincoln Financial Group- 16.19 per month
Protective Life Insurance Company- 15.91 Per Month
Principal Life Insurance- 16.69 per month
Banner/ William Penn- 16.65 Per Month
American General Life Insurance- 16.78 per month
Mutual of Omaha- 17.46 Per Month
Foresters Financial- 18.16 Per Month
SBLI- 18.51 Per Month (and you don’t even need a medical exam)
Ameritas Life Insurance- 19.18 Per Month
Need some proof to see it for yourself? No problem, we understand. Here’s a look at USAA Term Life Insurance Rates vs. Others
But wait a minute…What if you would have answered one of those questions yes about Military Service on the first screen we encountered? Then what happens to the USAA life insurance rates.
Does the quote change? You bet it does. It doubles.
USAA Term Life Insurance Rates
20 Years- Male Non-Smoker
Deployment in 90 Days
That USAA insurance quote above is if you answer you that “you will be deployed in the next 90 days”.
First and most importantly, don’t get us wrong here. We think it’s great that they offer coverage for active duty military and actually cover those death claims. Very few life insurance carriers if any will do that. However, as an independent agency, we like to make sure consumers understand what’s really going on behind the scenes.
If you really must have the additional coverage, the USAA quote may be your best route. If and only if you are active duty and need the coverage while on deployment. If you don’t need additional or don’t necessarily need the combat covered, you have better options. Cheaper options.
USAA Life Insurance Company is strong. Very strong with incredible financial strength ratings so there is nothing to ding on them in that aspect.
We also aren’t trying to ding them on any level. We are simply pointing that they can be considered the “Military Insurance” of the life insurance world and outside of that, you should shop and look at other rates.
Other USAA Term Life Insurance Rates?
How about some more USAA life insurance rates?
Let’s look at the other term durations. These will also be run on a 38-year-old Male – non-smoker preferred rates WITH NO upcoming deployment in less than 90 days.
Other Key Takeaways
Again, we want to make sure we emphasis that USAA Life Insurance Company is one of the good ones. They should be considered. They have other positive notes such as the other lines of insurance they offer including auto and home insurance.
They even offer accident forgiveness now, meaning that if you have an accident for the first time, no worries, your car insurance rates won’t skyrocket.
Unfortunately, USAA accident forgiveness doesn’t apply to other areas of the company or add any benefits to the lines of insurance such as life insurance.
Putting it All Together
Are USAA term life insurance rates the best you can do. Obviously not. We can beat it with several other options. However, they are a great company with great options. The options lie in your court to decide for yourself.
We have demonstrated that USAA life insurance rates can be beat. You can always run your own USAA insurance quote simply by visiting there webpage HERE!
If you are considering life insurance and do need more than what your VGLI and SGLI coverage is providing and have upcoming deployment no better option exists outside of USAA life insurance company.
If those aren’t the circumstance, whether your military or not, you should consider all other life insurance carriers as well. Chance are we can beat the USAA life insurance rates with another carrier who is just as reputable and financially strong if not stronger.
With Good Life Protection we compare the rates for you with over 50 life insurance carriers and tailor the life insurance policy to fit your specific needs and underwriting criteria.
Have any experience with USAA Life Insurance? We would love to hear about them, feel free to post in the comment section below. May the best quote win.