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Military Life Insurance and TRICARE
Supplements for Armed Forces & Services:
Active Duty, Transitioning Military,
Veterans, Retired Military, Reserve &
National Guard, Federal Employees
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USBA Group Life Insurance plans are underwritten by New York Life Insurance Company
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Home > Insurance Help & Plans > Plan Recommender
Insurance Help & Plans USBA Plan Recommender Photo
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Plan Recommender

When you’re shopping for a life insurance policy to supplement SGLI or replace SGLI when you leave the military instead of VGLI, the most important decision is: Term or Whole Life? But how do you decide which is the right insurance for you? The key is how long you plan to keep it and what you expect it to do for you.
 
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Term Life Insurance

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

Term insurance is a smart budget decision for people still building a family because it allows them to buy a high level of coverage when the need for financial protection is most critical. It’s also a good choice for covering big expense needs that are expected to disappear over time like mortgages and college costs.

Ask yourself: Is the amount of money I can spend on life insurance limited? Do I have financial commitments that are temporary? If you have a tight budget and need insurance for only a set period of time, term may be the best answer for you. Still have questions? Our friendly trained representatives are happy to answer them for you. Call us at (877) 297-9235 from 8 am – 4:30 pm (CST), Monday through Friday, for live assistance. You can also email us.

Gray Spacer USBA offers the following Term Life Insurance plans.
Click on any plan name to review in depth:

Long Term 20SM Group Level Term
   
Smart & Lean 15 Group Level Term
   
Smart Value 10 Group Level Term
   
Double Value TWO for ONE® Family Group Level Term
   
Group Level Term
   
Children’s Coverage
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Whole or Permanent Life Insurance

Whole life is a type of permanent insurance that offers lifelong protection and allows the policyholder to accumulate cash value on a tax-deferred basis. 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. You may have financial commitments still in place long after the children have graduated college or your mortgage has been paid off. For instance, your spouse may outlive you by many years and will need to deal with daily living expenses. Or you may want to be able to pass something on to your children or grandchildren.

Whole life insurance is considered an investment. Simply put these types of policies have the potential to build cash value over time as well as pay a death benefit to your beneficiary. The cash value grows tax-deferred while the policy is in force. The insured may use the policy as collateral, borrow against it or even borrow from it. If the insured borrows from it, the end cash payout obviously will be lower for the named beneficiary unless the amount is repaid.

Ask yourself: Do I want lifelong financial protection? Do I want premiums to remain constant or stable over my lifetime? Do I want the ability to accumulate cash on a tax-deferred basis? Do I want to be able to withdraw or borrow against accumulated cash? (Note: Withdrawal and loans will reduce death benefit.) Still have questions? Our friendly trained representatives are happy to answer them for you. Call us at (877) 297-9235 from 8 am – 4:30 pm (CST), Monday through Friday, for live assistance. You can also email us.

Gray Spacer USBA offers the following Whole Life Insurance plans.
Click on any plan name to review the details:

Life-Time Value Group Whole Life
   
50 Plus Group Whole Life
   
Wise Choice Generation 3SM Group Blended
   
First StepsSM Group Whole Life

 

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Additional Insurance Plans
USBA offers select health insurance plans. Click on any plan name to see details.

TRICARE Standard/Extra Supplement

TRICARE Reserve Select Supplement

CHAMPVA Supplement

Cancer Insurance Plan

Hospital Indemnity Plan

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Step 3 RATE QUOTE
Ready to get a quote for the type of life insurance in which you’re interested? Get a Rate Quote now!
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