I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent Rachael Brennan

UPDATED: Apr 19, 2022

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USAA life insurance review

What’s New In 2021 for USAA Life Insurance

USAA Life Insurance gives active and retired members of the US Armed Forces and their families access to premium financial and insurance resources. 

How Has Covid-19 Affected USAA Life Insurance

USAA has always been a leader in online banking. In the past, this was to help with deployed service people. It has been very helpful in managing the current Covid-19 crisis. The site offers lessons on how to handle your insurance online.

When you come into a branch, USAA has taken many steps to make your visit safer, such as reducing surface contact, increasing cleaning measures, and closely monitoring air filtering systems. They became the first insurance company to receive the WELL Health-Safety Rating for 12 of their branches.

The company also offers help for families struggling with Covid-19. If you have difficulty paying your insurance, reach out to them, and they may help you fix the problems.

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New Products Or Changes

This year USAA will start offering Guaranteed Issue Whole Life Insurance. All members can get these plans with no medical exam required.  

USAA Life Insurance In The News

USAA stays busy even in the pandemic to serve their customers. The company and its employees have found ways to volunteer during the pandemic. 

At the end of 2020, the company’s new CEO discussed the continued drive to support service people even with all the new changes for business. 

2021 Latest USAA Life Insurance Reviews

What are people saying about USAA in 2021? It can be difficult to find reviews about USAA Life Insurance because many reviews focus on the more often used auto and home insurances. 

A look at reviews around the web shows that customers have mixed emotions about USAA. While many customers are happy with the company and have had good experiences for decades, some people are unhappy with the lack of communication from the Life Insurance company. 

Many customers mention that USAA Insurance has helped their family for generations, like Kathleen Benn, a 20-year customer whose parents were customers for 60 years. 

The company’s customer service is often highly touted, like Linda M., who had a great experience with Danielle in March. 

Reviewer Christine G. on yelp got a letter in error that claimed her policy was about to be canceled. It took her a long time over the phone to fix the company’s mistake.

Many reviewers are also upset about how the company handled their policy while dealing with problems from the pandemic, like Ken C., who felt the company didn’t treat a long-time customer well who was coping with Covid problems. 

Despite some less than positive feedback, the company has many benefits, and most customers seem overall satisfied with their services. 

USAA is a trusted brand all over the country for its reliable and versatile insurance policies. The same applies to their life insurance policies.

It works primarily with military members and their immediate families, so it aims to provide quality coverage at an affordable cost, as a thank you for their service.

The services on offer at USAA consistently rate among the highest of any group in the country. It is both affordable and outstanding, and one of the best-known names in the insurance industry.

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Who Can Get USAA Life Insurance?

Although marketed primarily to US military members and their families, some policies extend to the general public. These are a select few, though, and some are grandfathered under previous programs that have been phased out.

USAA is almost always strictly available to active and retired members of the US military, and this extends to members of training programs for the military. These services include the immediate children of service members, as the system is structured from the top down.

For example, the parents of a military member do not qualify for USAA, but the children do. Widows are also entitled to policies.

As for the general public, specific policies are available to everyone in the banking and financial services industry, but these are not as flexible as for service members.

What does USAA offer?

USAA offers a variety of life insurance policies, both term and permanent.

RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance

Whole Life Insurance

The “Whole Life Insurance” plan pays out when you pass away. More interestingly, the cash value assigned to the policy will continue to increase based on the interest rate assigned to it, which is determined by USAA. Once a premium is determined for the policy, it will typically be set in place in perpetuity.

It can come in handy as people age. The longer you live, the more likely you are to get sick or have an unforeseen issue take a toll on your health. These premiums lock into place, and it will not affect your cost negatively. The monetary value associated with this policy will also be tax-deferred.

These plans allow you to complete premium payments for the life of the policy, for twenty years, or until the insured turns 65. The policies can be quite cost-efficient, too, with payments as low as $70.74 per month.

Universal Life Insurance

The “Universal Life Insurance” plans include the death benefit with no end-date and the running cash balance increasing based on the interest assigned to it. The main difference is its flexibility compared to “Whole Life Insurance.”

Through this product, the insured will be able to move their coverage up and down while choosing how they pay off their premiums. There are limitations to the flexibility of the coverage, but it is more manageable when any sudden life changes appear.

The policies are also affordable, although more expensive than their whole life counterparts—payments clock in as low as $84.57 per month.

The unique selling point for USAA is its life insurance policies for service members. These include, but are not limited to:

Accelerated Review Programs

USAA expedites your application process if you’re set to deploy soon. It is especially useful, as you will want to be as covered as possible before you end up in harm’s way.

Severe Injury Benefits for The Wounded

Exceptional circumstances call for special coverage. USAA can pay $25,000 to service members that find themselves severely injured in the line of duty.

Coverage During Wartime

If you’re going to war, you need assurances. These policies ensure that your coverage will hold if you are killed during the war or if during an act of terrorism.

Adjustable Coverage

Life comes at you fast, and these expanded policies allow you to add $100,000 in coverage when you marry, purchase a home, or have a child. Your policies change with your circumstances.

Replacement of Military Policies

The military already offers specific types of insurance to its members, but with USAA policies, you’ll be able to replace them with the coverage of your choice after you leave the service on good terms.

What is the Rating of USAA Life Insurance?

No matter the source, USAA’s life insurance reviews remain among the highest in the industry:

  • NerdWallet: 4.5 stars out of 5
  • Consumer Affairs: 4 out of 5 stars
  • Best Company: 4.9 out of 5 stars
  • A.M Best Company: They were rated “A++”, indicating that they were far superior in their field.
  • Moody’s Investors Service: Rated them an “Aa1” rating on their scale.
  • Standard & Poor’s: Rated “AA+”, indicating they were a reliable company when it comes to life insurance.
  • Better Business Bureau: Rated them as an “A+,” which is the highest possible score.

Not to be ignored, USAA is shown to have fewer complaints than the national median when it comes to both their life insurance and home insurance.

RELATED: Check Sample Life Insurance Rates by Age (No Personal Info Required)

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Pros & Cons of USAA


Pros include having some of the highest ratings across the board among both customers and industry reviewers. They offer a wide array of policies that can be flexible and rewarding. USAA offers both term and permanent life insurance policies that can increase cash value over time.

They have competitive prices and financial planning services that can help you find a balance. They also genuinely seem to want to make a positive impact, showcased by the billions of dollars they have paid out over the years to the families of veterans.


The cons of USAA’s programs deal with a few crucial setbacks. These policies are only available to US military personnel and their immediate families, with the exception of a select few (check website for details to see if you qualify).

Other than that, their banking services can be restrictive in how you withdraw and deposit money.

Is USAA Good for Life Insurance?

If you’re a member of the US military, you’d be hard-pressed to find a better insurance policy for your buck.

What’s your take on USAA Life Insurance? Tell us what you think in the comments.