7. USAA - Best for Military Members and Veterans
What We Like Most:
- Reasonable rates for senior drivers
- Extremely friendly discounts if you store your vehicle
- Offers car replacement and accident forgiveness
- Offers ride-share insurance if you drive for Lyft or Uber
Types of Life Insurance Offered: Term Life, Permanent Life (Universal Life Accumulator, Simplified Whole Life, Guaranteed Whole Life)
Issue Ages: 45-85 (50-75 in New York)
Monthly Premium for a Healthy 65-Year-Old Man: $131.40 per month for up to $150,000 in coverage
USAA provides auto, renters, life, flood, and home insurance for members of the military and their families. In addition to life insurance, USAA offers several other perks such as discounts for USAA members towards GoodRx and up to 15 percent off at SimpliSafe.
The USAA website is also very helpful. For example, they have a variety of standout features and resources that help USAA members pay off debt, use a free Savings Booster tool, and obtain important tax forms and free retirement income tips. USAA is great for older adults who are looking into retirement or estate planning. Individuals can contact a USAA Retirement Specialist to create a plan and look into other retirement income strategies. One of the other standout features of USAA is that they have a close-knit community and network of other USAA members from the military who can share and connect online and discuss topics pertaining to finances, military life, events, and more.
In terms of life insurance, USAA offers term life and permanent life policies with coverage flexibility and other benefits for members of the military and their families. For instance, if you’re a USAA member, you can opt for affordable term life insurance with payments starting at less than $12 a month. Alternatively, if you’re looking for a more permanent plan that provides lifelong protection, USAA also offers permanent life insurance policies that come with a death benefit that’s paid directly to a beneficiary and builds cash value over time while you’re alive.
For a quote, you can visit USAA online or speak to an agent over the phone for more information. You will need to fill out some personal information that requires you to disclose the state you reside in, your gender, military status, and more.
- Affordable rates
- Discounts for bundling
- Offers banking services
- Easy claims process
- Only available to those who served in the military (and their families)