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USAA Worldwide Life Insurance
About the Company
USAA was formed in 1922 when 25 army officers in San Antonio decided to insure each other's vehicles. Today, USAA has over 5.6 million members.
USAA is a mutual company that is owned by policyholders. People who are eligible to join USAA are:
- Active duty officers and enlisted military personnel.
- Former spouses and adult children of USAA members.
- National Guard and Selected Reserve officers.
- Officer candidates in Academy, ROTC, OCS/OTS.
USAA offers a variety of financial tools and services. They provide banking, investing, insurance (auto, life health), and financial advice.
Term Life Insurance Products
In addition to offering permanent life and universal life insurance, USAA offers term life insurance products. USAA's term life products offer the following features and benefits:
- You can choose between a five, ten, fifteen, twenty, or thirty year policy.
- Your death benefit may be income tax free.
- It is a great compliment to your permanent policy in times when your financial contributions to your family are vital.
- Many term policies allow you to extend your coverage for an additional term without taking another medical exam.
- Some policies allow you to convert your term policy to a permanent policy.
- Because your premium payments are not invested to produce returns, term policies are much less expensive than permanent policies.
- Term policies are great products for people who want death benefit coverage for a low cost.
- The death benefit for a term life insurance product is only paid if the policy holder passes on while the policy is in effect. If the policy expires before the policy holder passes on, no death benefit is paid.
- Term policies do not have a cash accumulation value.
USAA Financial Ratings
A.M. Best: A++ (Superior)
Moody's: Aaa (Exceptional)
Standard & Poor's: AAA (Extremely Strong)
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Term Life Insure provides free information concerning insurance products and services, but is not an agency or an insurer. We are not associated with the company or companies profiled on this page and we make no representation, express or implied, that you will receive a quote from the company profiled herein. Products may not be available in all states. Please speak to your insurance agent or carrier directly for more information.
