Products Join USBA Apply Online Contact Us Agents Member Log In 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. Get A Quote Apply Online Compare Insurance Types Whether you choose group Term Life, Whole Life, or a combination of the two – all life insurance is designed 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 Plan Topline Often called permanent insurance, Whole life plans 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 plans 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 plans, but offer cash value benefits. Generally the most affordable life insurance, particularly when you purchase your plan at a young age. Premiums, while not guaranteed, are designed to remain level for a set time, or term, and then will increase as you enter new age brackets. Length of Coverage As long as you pay your premiums when due, you have guaranteed coverage for your lifetime. The length of the term depends on the plan you choose. USBA offers Term plans for 5, 10, 15 or 20 years. All with renewable options. Builds Cash Value Accumulates cash value over time. None. *Certain restrictions may apply. 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. LEARN MORE > 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 plans. LEARN MORE > Term Life Insurance 5 Year Group Level Term Life Insurance Budget friendly, most affordable plan for younger ages. LEARN MORE > 10 Year Group Level Term Life Insurance Easy-to-budget 10-year level term insurance. You select the amount of coverage your family needs – from $25,000 to $500,000. LEARN MORE > 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. LEARN MORE > 20 Year Group Level Term Life Insurance Enjoy peace of mind knowing you’ve got affordable coverage for the next 20 years. Coverage won’t decrease and premiums, although not guaranteed, are designed to remain level. LEARN MORE > TWO For ONE® Level Term Life Insurance One of our most popular life insurance plan almost from the first day we introduced it in 1993. Let’s you choose one policy to cover both legally married spouses equally. Optional Children’s Coverage helps you protect your whole family. LEARN MORE > 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. LEARN MORE > Children’S Group Whole Life Adult sized protection … Child sized premiums! “Permanent” life insurance protection for your children that also accumulates cash value. LEARN MORE > 50+ Group Whole Life If you’re 50 or over, and want lifelong coverage with guarantees, 50+ is an excellent choice. Buy it through age 69 and keep it for the rest of your life. LEARN MORE > 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 cost-effective term plan designed to insure your eligible children for a monthly premium of just $1.50 per unit. LEARN MORE > $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. LEARN MORE > 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? Become A Member Of USBA Now As a USBA Member, you’ll join a community that understands your commitment to your country, and your family. Our non-profit association strives to support our members through cost savings and personal service, and we’re proud to serve multiple generations of their families. Become a member today and let USBA help you protect your family’s future. There are no fees and no annual dues involved in USBA Membership. Who We Serve Join Now Need Help? Call 877-297-9235 Member Support: 800-821-7912 Or Email Us TOOLS & RESOURCES Coverage Estimator Insurance Topics Military Job Center Selecting Right Policy eKits ABOUT US President’s Letter History Mission Leadership Board Members Testimonials COMMUNICATIONS Blog Newsletter eCards Press Releases COMMUNITY INVOLVEMENT Dietrich Scholarship Veterans Community Project Wreaths Across America United Way AGENT OPPORTUNITIES CONTACT US SITEMAP MEMBER SERVICE CENTER MOBILE APP: IPHONE ANDROID Armed With Compassion. Dedicated To Service.SM Privacy Policy | Important Plan & Eligibility Information 7301 West 129th Street Suite 200 Overland Park, KS 66213 USBA Group Life Insurance policies are underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 on policy Form GMR Copyright © 2021 USBA All Rights Reserved. USBA is a not-for-profit 501(c)(9) association. The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement. 02032020 We use cookies to provide the best web experience for our users. By continuing to browse this site, you agree to this use. Read more about the use of cookies in our Privacy Policy. Accept --%>