USAA Life Insurance Company life insurance

Overview

USAA Life Insurance Company is the life insurer of USAA, the San Antonio company best known for auto and home insurance and banking for the military community. The USAA group ranked #32 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with $1.14 billion in premiums and a 0.73% market share. Its New York affiliate, USAA Life Insurance Company of New York in Highland Falls, near West Point, writes policies for New York residents.

USAA Life is a stock company wholly owned by United Services Automobile Association, which is owned by its members rather than shareholders. Unlike USAA's auto and home insurance, USAA life insurance does not require USAA membership: the company says its life, health and retirement products are available to all U.S. citizens. It sells directly, online and by phone through licensed USAA representatives, with no outside agents. Its policies are built for service members, with coverage that continues in war, a severe-injury benefit and a guaranteed option to replace SGLI after leaving the military.

Who can join USAA. Membership, needed for USAA auto, home and most banking products, is open to active duty, National Guard and Reserve members; veterans who separated with an honorable or general under honorable conditions discharge; contracted cadets and midshipmen, officer candidates and service academy appointees; and spouses and children of USAA members. Members who buy life insurance may be able to save on their USAA home, auto or renters policies.

History

On June 20, 1922, a group of Army officers met at the Gunter Hotel in San Antonio and formed the United Services Automobile Association to insure each other's cars, because other insurers treated officers as high-risk drivers. Major Walter Moore bought the first policy on June 23, 1922. USAA opened membership to Navy and Marine Corps officers in 1923 and to service academy cadets, Foreign Service officers and unremarried widows in the 1930s.

USAA added homeowners insurance in 1960 and launched its life company in 1963. Enlisted personnel became eligible for membership in 1995, and usaa.com went live in 1999. USAA now reports more than 13 million members. Today USAA Life itself issues term, whole life, final expense and annuities; the universal and indexed universal life policies USAA offers are issued by John Hancock and sold through USAA Life General Agency.

Life insurance products

• Eagle Express term is USAA's main term product, for ages 18 to 70 in most states, with $100,000 to $10 million of coverage for 10 to 30 years and premiums fixed for the term. Some applicants qualify without a medical exam and get same-day coverage. It can be converted to permanent coverage after the first year without a medical exam (converting term life to permanent: how the conversion option works). New York residents get a level term policy instead, because Eagle Express is not sold there.
• USAA Secure Whole Life covers ages 18 to 85 in most states, with $50,000 to $10 million of coverage, fixed premiums and cash value you can borrow against. It is not available in New York, where USAA sells Simplified Whole Life. USAA Secure Start Whole Life uses health questions only, with no medical exam, and is paid up at the policy anniversary after age 100 (not sold in California, New York or Washington).
• Children's whole life covers children from 15 days to 17 years old, from $25,000 to $100,000 (not available in California, New York or Washington).
• USAA Secure Final Expense whole life is for ages 45 to 85, with $5,000 to $40,000 of coverage and no medical exam. Depending on underwriting, it pays a level death benefit or a two-year graded benefit that returns premiums plus 10% for a natural-cause death in the first two years (final expense insurance: what it covers and costs). New York residents can buy Guaranteed Whole Life instead.
• Universal life and indexed universal life are issued by John Hancock Life Insurance Company (U.S.A.) and, in New York, John Hancock Life Insurance Company of New York, and sold by USAA's agency, which earns commissions on them (John Hancock, Indexed universal life (IUL) explained).

Military features. Military Protection Plus comes at no extra cost on USAA term and Secure Whole Life policies bought while on active or reserve duty. Its Military Future Insurability Rider lets you buy up to twice your USAA coverage, up to your full SGLI amount, when you separate or retire, with no medical exam or health questions. Its Military Severe Injury Benefit Rider pays $25,000 for certain injuries suffered on eligible military duty (not in New York). USAA says its policies keep paying if death is caused by war or terrorism (war, terrorism and aviation exclusions in life insurance, Servicemembers' Group Life Insurance).

Other riders include a one-time Term Life Event Option to add up to $100,000 after marriage, a birth or a home purchase before age 45; a Life Event Option on whole life; a children's term rider of up to $25,000 per child; and the Eagle Plus Rider, a free online will or trust package from Trust & Will (not in Florida or New York).

Other products

USAA Life sells deferred annuities (fixed and market-based) and immediate income annuities through its Retirement Income Specialists (800-833-9847). The wider USAA group sells auto, home and renters insurance, banking, mortgages and investments.

Buying and service

You can get a quote and apply online or by calling 800-531-5433 (800-531-LIFE), weekdays 7:30 a.m. to 7 p.m. Central. Coverage starts the day you make your first payment after approval. Policies are managed in the USAA website and mobile app, and the main USAA number is 800-531-8722. USAA representatives sell only USAA Life policies and the John Hancock products USAA has chosen, so comparing other insurers is up to you (captive vs independent life insurance agents).

Claims

Beneficiaries report a death online or by calling USAA Survivor Relations at 800-292-8294, weekdays 7:30 a.m. to 6 p.m. Central. After a beneficiary is validated, USAA sends a digital or paper claim packet within up to 10 business days, with a claimant's statement, a settlement form and any IRS tax form. A death certificate and other documents may be required. Forms can be uploaded online or mailed in the return envelope.

USAA says its review can take up to 10 business days after it has the documents, and payment by check or bank wire can take up to five more business days. Domestic wires may cost $20. The Survivor Relations team also helps families settle other USAA accounts.

Ratings and reputation

AM Best affirmed the A++ (Superior) financial strength rating, its highest, of USAA and its life subsidiaries, including USAA Life Insurance Company and USAA Life Insurance Company of New York, with a stable outlook in June 2026, as it had in July 2025, citing balance sheet strength it assesses as the strongest. USAA's term life page also lists Aa1 from Moody's and AA from S&P Global Ratings for the life company.

USAA Life was not among the brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study.

Who it suits

USAA Life suits service members and veterans who want term or whole life designed around military life: coverage in war, a guaranteed way to replace SGLI after separation, and a top financial strength rating. Because life coverage is open to anyone, civilians can buy it too. It is a weaker fit for New York residents, who cannot buy several of its newer products, and for anyone who wants an agent comparing many insurers.

• Strengths: A++ (Superior) from AM Best (July 2025); war and terrorism coverage, a $25,000 severe-injury benefit and a no-exam SGLI replacement option; term up to $10 million with possible no-exam approval; no membership needed for life insurance.
• Weaknesses: Eagle Express, Secure Whole Life and final expense are not available in New York; universal and indexed UL come from John Hancock rather than USAA; sold only by USAA representatives; not ranked in J.D. Power's 2026 life study.

How to contact USAA Life Insurance Company