September, 23 2017

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USAA Life Insurance Company Review

USAA Life Insurance Company Review

Author
  • Price
  • Underwriting
  • Financial Strength

(USAA) United Services Automobile Association Life Insurance Company Review

Pros: Rating- USAA has a 99 out of 100 Comdex Ranking, meaning they nearly received a perfect financial rating from the top four U.S. insurance rating agencies. Size- USAA is a Fortune 500 company with over 10 million members.  Website- USAA’s website provides instant rate quotes and allows you to fill out an application online.  Loyalty- USAA is a member based organization to people and families that serve, or served in the United States Military.

Cons: There aren’t too many cons with USAA.  In reviewing their rates, they are competitive but often there were other life insurers with cheaper rates.

Bottom Line:  USAA is a top tier life insurance company with their near perfect financial rating (from the four main rating agencies) and their competitive rates.  However, their prices may not be the lowest and their underwriting can be strict in certain areas compared to other carriers. The bottom line is you can’t go wrong with a policy from USAA but it is advisable to receive quotes from multiple companies in addition to USAA and choose the best company for you.

About

Type: Reciprocal

Issued by: USAA Life Insurance Company

Founded: 1922

Website: www.usaa.com

Phone: (800) 531-8722

Address: 9800 Fredericksburg Road San Antonio, TX 78288

A.M Best Rating: A++ (Superior) Highest of 16 possible ratings

Comdex Ranking: 99 out of 100

BBB Rating: NA

Competitors: AAA, Erie, Ohio National Life, New York Life, Northwestern Mutual, Mass Mutual, Mutual of Omaha, John Hancock, PennMutual, Principal, State Farm, Allstate, American General Life, Banner Life, Protective Life, Primerica, State Farm, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential.

 


Price Comparison Chart

Sample rates for a male in each company’s best health class for $500,000-20 year term.

AgeUSAAProtectiveBannerMetLife
30$24.57$21.32$21.88$26.01
40$37.07$30.26$35.44$37.26
50$92.07$80.43$83.13$89.46

 

Summary
Review Date
Reviewed Item
USAA Life Insurance Company
Author Rating
4