USAA Term Life Insurance: What You Need to Know

USAA is a well-known insurance company that offers a variety of insurance products to its customers, including term life insurance. Term life insurance is a type of life insurance that provides coverage for a specific period of time, usually between one and thirty years.

What is USAA Term Life Insurance?

USAA term life insurance is a policy that provides coverage for a specific period of time, ranging from ten to thirty years. The policy pays a death benefit to the beneficiary if the insured individual passes away during the term of the policy.

When you purchase a USAA term life insurance policy, you’ll be able to choose the amount of coverage you need and the length of the policy term. You’ll also be able to choose whether you want a level or decreasing death benefit.

Level Death Benefit

A level death benefit means that the amount of coverage you have will remain the same throughout the term of the policy. If you purchase a $500,000 policy, for example, the death benefit will remain $500,000 for the entire term of the policy.

Decreasing Death Benefit

A decreasing death benefit means that the amount of coverage you have will gradually decrease over the term of the policy. This type of policy is often used to cover a specific debt or expense that will decrease over time, such as a mortgage or a child’s college tuition.

How Much Does USAA Term Life Insurance Cost?

The cost of USAA term life insurance will depend on a variety of factors, including your age, health, and the amount of coverage you need. Generally, younger and healthier individuals will pay less for coverage than older or less healthy individuals.

To get a quote for USAA term life insurance, you can visit their website or speak with a representative over the phone. You’ll be asked to provide basic information about yourself, such as your age, gender, and health status.

Sample Rates for USAA Term Life Insurance

Age
Policy Term
Amount of Coverage
Monthly Premium
30
20 years
$250,000
$15.10
40
10 years
$500,000
$27.12
50
15 years
$1,000,000
$68.40

Who is Eligible for USAA Term Life Insurance?

USAA term life insurance is available to active or retired military members, as well as their eligible family members. If you are a current or former member of the military, you may be eligible for coverage through USAA.

In addition to military members and their families, USAA also offers term life insurance to civilians who meet certain criteria. To see if you qualify, you can visit their website or speak with a representative over the phone.

FAQ: Common Questions About USAA Term Life Insurance

What is the maximum term for USAA term life insurance?

The maximum term for USAA term life insurance is thirty years.

Can I convert my USAA term life insurance policy to a permanent life insurance policy?

Yes, USAA offers the option to convert your term life insurance policy to a permanent life insurance policy. This option is typically available until you reach a certain age, such as age 70.

What happens if I outlive my USAA term life insurance policy?

If you outlive your USAA term life insurance policy, the coverage will expire and you will no longer be covered. However, you may have the option to renew or convert the policy, depending on the terms of the policy and your age at the time of renewal.

What happens if I miss a premium payment?

If you miss a premium payment on your USAA term life insurance policy, you will have a grace period to make the payment. If you do not make the payment during the grace period, your policy may lapse and you will no longer be covered.

How do I file a claim with USAA term life insurance?

To file a claim with USAA term life insurance, you can contact their claims department over the phone or online. You’ll be asked to provide documentation, such as a death certificate, to support your claim.

Overall, USAA term life insurance is a good option for military members and their families, as well as civilians who meet certain criteria. By choosing the right amount of coverage and policy term, you can ensure that your loved ones are protected financially in the event of your passing.