USBA Military Life Insurance Policies Overview
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Which USBA
Life Insurance
is Right for You?

How does life insurance work? When is the right time to buy? Is military life insurance better? Whole or Term, which is right for me and my family? Buying life insurance brings to mind a lot of questions, and you want to be sure you’ve made the right choice. For your convenience we’ve included answers to commonly asked questions below.

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Compare Insurance Types

Whether you choose group Term Life, Whole Life, or a combination of the two – all life insurance is expected to provide future protection for your family. To help you decide what best fits your needs, we’ve broken Term and Whole life coverage down to four key areas to get you started.

Whole Life
Term Life
Policy Topline

Often called permanent insurance, Whole life policies provide lifetime protection.

These policies are designed for the long term and provide lifelong financial protection for your family.

Offers you the option to borrow against accumulated cash value.*

(Note: Loans against your policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.)

Can be a good choice for estate planning.

As the name implies, Term life policies provide coverage for a set period of time.

Once that term ends, you decide if you want to renew your term coverage, or perhaps convert to whole life insurance.**

Pays a death benefit only if the insured passes away while the Term policy is in force.

Cost

Guaranteed monthly premium.

Generally Whole life premiums are higher than Term life policies, but offer cash value benefits.

Generally the most efficient life insurance particularly when you purchase your policy at a young age.

Premiums, while not guaranteed, are expected to remain level for a set time, or term, and then will increase as you enter new age brackets.

Length of Coverage

Provided premiums are paid when due, you have guaranteed coverage for your lifetime.

The length of the term depends on the policy you choose. USBA offers Term policies for 5, 10, 15 or 20 years. All with renewable options.

Builds Cash Value

Accumulates cash value over time.

None.

*All guarantees are backed by the claims-paying ability of the issuer.
**Certain restrictions may apply.
USBA Whole Life Insurance description

Whole Life Insurance

Whole life is a type of permanent insurance that offers lifelong protection and allows the policyholder to accumulate cash value. In contrast to term insurance, a whole life insurance policy remains in force as long as you continue to pay your premiums.

It’s a smart choice for someone who needs coverage for an extended period of time.

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USBA Term Life Insurance Description

Term Life Insurance

You’re able to “lock-in” a premium rate determined by your age, gender and smoking status that – while not guaranteed – is expected to remain level for the term of the policy.

Term insurance provides protection for a set amount of time and generally pays a benefit only if you die during the “term” of the policy. It is pure protection and at USBA, you have a choice of 5, 10, 15 and 20 year level term insurance policies.

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Term Life Insurance

5 Year Group Level Term Life Insurance

Life insurance protection that offers you the ability to help safeguard your family’s financial future.

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10 Year Group Level Term Life Insurance

10-year level term insurance. You select the amount of coverage your family needs – from $25,000 to $500,000.

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15 Year Group Level Term Life Insurance

Offers your family protection at a price that fits the family budget. Your starting premium, although not guaranteed, is expected to remain level for a full 15 years.

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20 Year Group Level Term Life Insurance

Enjoy peace of mind knowing you’ve locked in coverage for the next 20 years. Coverage won’t decrease and premiums, although not guaranteed, are expected to remain level.

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TWO for ONE® Level Term Life Insurance

One of our most popular life insurance policy almost from the first day we introduced it in 1993. Lets you choose one policy to cover both legally married spouses equally. Optional Children’s Coverage helps you protect your whole family.

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Whole Life Insurance

Group Whole Life

Permanent coverage with an increasing cash value. Once approved, your premium is guaranteed never to increase, coverage is guaranteed never to decrease, and the policy accrues a cash value while it’s in force.

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Children’s Group Whole Life

A lifetime of insurance protection. Permanent life insurance coverage for your children that also accumulates cash value.

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50+ Group Whole Life

If you’re age 50 or over, and want lifelong coverage with guarantees, 50+ is an excellent choice. Buy it through age 71 and keep it for the rest of your life.

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Coverage Estimator

Are you aware of how much life insurance you may need? Determine your life insurance coverage based on cost or your specific financial needs. Or if you just want to talk about your options, call us or fill out our contact form and we’ll get back to you at a time convenient for you. Select an option and get started.

Based on Cost
Based on Need

Optional Riders

Children’s Group Term Life Coverage

A policy designed to insure your eligible children for a monthly premium of just $1.50 per unit.

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$40,000 AD&D Coverage

You can add $40,000 of Accidental Death and Dismemberment (AD&D) to your USBA-sponsored Group Life coverage for $2.00 per month.

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FAQ

How does life insurance work?
When you purchase life insurance, you make an agreement with your chosen insurance provider that you will make monthly premium payments, and when you die the insurance company will pay your beneficiary the amount of coverage you apply for, be it $100,000, $250,000, $500,000, etc. This coverage amount is intended to help provide your family with a secure financial future. And knowing you have planned for their future provides you with peace of mind.

Coverage amount: The amount of coverage that’s right for you, and your family, can change over time:
  • If you’re single and have little or no debt, consider the cost of your final (funeral) expenses.
  • If you’re married; have dependent children; have debts such as a mortgage, car payment, or credit card balances; consider enough life insurance to cover your income for the period of time your family will need if your income were suddenly no longer available.
  • If you’re an empty nester, finished raising your family and paid off your mortgage and other debts, your life insurance needs are different than when you were younger. But you’ll still need to make sure final expenses are paid. And if you're married, your family’s income may be considerably less with you gone. Adequate life insurance can help to “fill the gap.”
For assistance in determining how much coverage you need, or can afford, our Coverage Estimator is set up to help give you an idea of your choices.
What’s the difference between individual and group life insurance?
Do you offer Life insurance for Federal employees?
Is Veterans Group Life Insurance (VGLI) my best choice to replace my Servicemembers’ Group Life Insurance (SGLI) coverage?
What options do I have to convert a Family Servicemembers’ Group Life Insurance (FSGLI) to an individual insurance policy?

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