Types of life insurance

Life insurance is a contract in which you pay premiums, and in return your beneficiary receives a lump-sum payout when you die. Your beneficiary can use the money to pay for things like daily expenses, a mortgage, your kids' education, medical bills and other expenses. Life insurance coverage generally falls into two categories, term and permanent. The right fit for you often depends on your goals.

Need help choosing?

If you need help choosing which type of life insurance is best for you, our product guidance tool can help.

Help me choose a life policy

Term Life Insurance

Designed to replace your income

Fixed monthly payments during the initial term period, usually 10 – 30 years.

Typically offers the most coverage for the least cost during the fixed term.

Permanent Life Insurance

Meant to last a lifetime

Payment and coverage options can be flexible.

Usually more expensive because it may build a cash reserve.

Several types of policies to choose from.

How much life insurance do I need?

We suggest that you have enough coverage to pay off any debt you have and replace your income for at least five years. Even if you're starting with minimum coverage, having some life coverage is better than none. Let us help you figure out how much coverage is right for your needs.

Calculate coverage needs

How much does life insurance cost?

How much you'll pay for life insurance depends on a variety of factors. Typically, the younger you are, the lower the cost. Other factors include:

  • Your health and lifestyle.
  • Your occupation.
  • The type of life insurance you choose.
  • How much coverage you're applying for.

Who can get USAA Life Insurance?

Any U.S. citizen or permanent resident can apply for USAA Life Insurance. You don't need a military connection. The ability to get a policy is based on things like age, health, lifestyle and the outcome of a medical exam, in some cases.

Why should I choose USAA Life Insurance?

Our policies can help give your family peace of mind when they need it the most. Here are some of the ways we can help meet your needs.

  • Coverage Flexibility

    With our insurance, you can update your policy as life changes. This way, you'll continue making sure you have the right coverage for your family.

  • Financial Strength

    Our life insurance company maintains high ratings from three key rating agencies, reflecting our standing as a financially strong organization.As of February 1, 2024, A.M. Best: A++, Superior (highest of 16 possible ratings); Moody's Investors Service: Aa1, Excellent (second highest of 21 possible ratings); S&P Global Ratings: AA+, Very Strong (second highest of 21 possible ratings). Ratings are subject to change. Ratings apply to USAA Life Insurance Company and USAA Life Insurance Company of New York not to the products or services they provide. Company ratings represent an opinion of financial strength and the company's ability to meet ongoing obligations to policyholders. Ratings refer to the claims-paying ability of the insurance company and do not reflect the safety or performance of any product. The rating agencies listed are independent of each other and use proprietary evaluation criteria and ratings scales. For the latest Financial Strength Ratings, visit www.ambest.com, www.moodys.com and www.spglobal.com/ratings.

  • Dedicated Support

    We'll be there for your loved ones by helping them settle all of your USAA accounts and policies. Learn more about our Survivor Relations team.

How to get life insurance

Get started with these three simple steps.

  1. Step 1: Choose a policy.

    Review your term or permanent options and get a quote. We'll work with you to schedule a medical exam, if needed.

  2. Step 2: Apply for coverage.

    Answer a few questions and complete your medical exam. We'll review your application.

  3. Step 3: Purchase your policy.

    Once your policy is approved, protect the ones you love by making your first payment.

Life insurance FAQ

Have more questions?

Speak to a USAA representative at 800-531-LIFE (5433) , Monday to Friday, 7:30 a.m. to 8 p.m. CT.

Life insurance advice

New York Residents — Domestic Violence Information. New York Insurance Regulation 168, titled "Confidentiality Protocols for Victims of Domestic Violence and Endangered Individuals" requires us to provide you with information related to Insurance Law 2612, which relates to discrimination based on being a victim of domestic violence, the regulatory required confidentiality of information protocols and the contact information for the New York State Domestic and Sexual Violence Hotline. You may download and print the information here (PDF).Life insurance and annuities provided by USAA Life Insurance Company, San Antonio, TX and in New York by USAA Life Insurance Company of New York, Highland Falls, NY. All insurance products are subject to state availability, issue limitations and contractual terms and conditions. Each company has sole financial responsibility for its own products.7403969