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What’s level term life insurance?

It’s life insurance that offers coverage and premiums that are fixed for a set period of time, or term. The initial term is usually 10 to 30 years.

Fixed premiums

During your initial term, your premiums don’t change. You can keep the policy and same coverage after your term expires, but your payments will increase each year.

More coverage for less

Coverage options start at $100,000. These policies typically offer the most coverage for the least amount of money during the initial fixed term.

Helps protect your family

If others rely on you or your income and you have responsibilities like a mortgage or taking care of kids, it can help secure their financial future.

Level term coverage features

Life events option

When you buy a policy before you’re 35, you can add $100,000 of coverage if you get married, have a baby or buy a home before you’re 45.‍ ‍ See note 1

Child coverage

Insure your kids on your policy. When they become adults, you can convert coverage to their own lifetime policy before they turn 26.‍ ‍ See note 2

Convertible to permanent

Getting coverage when you’re young can lock in a lower rate. You can then convert to permanent coverage after 1 year with no medical exam.

Why choose level term life insurance through USAA?

Coverage designed with service members in mind

Our policies have extra features for the military, including:

  • Coverage during war.
  • Guaranteed coverage after leaving the military.‍ ‍ See note 3
Learn about military features

Support for you and your loved ones

You can trust that we’ll be there for the people who matter most to you. Our Survivor Relations team is here to help your family understand their options and next steps to take after the loss of a loved one.

How much term life insurance do you need?

We suggest having enough coverage to pay off debt and replace your income for at least 5 years. But having some coverage is better than none. Let us help you figure out how much coverage you need.

Calculate coverage needs

How to get a policy

Steps to complete How to get a policy

  1. Get a free quote

    Just answer a few questions to get an idea about your coverage and costs.

  2. Apply

    You’ll finish the application and, if needed, set up a time to complete your free medical exam.

  3. Buy coverage

    If approved and you decide to buy, coverage starts the day you make your first payment.

Level term life insurance FAQ

We look for health risks that may impact your insurability. This includes things like your height and weight, blood pressure, cholesterol and other health factors. It only takes about 30 minutes to complete the medical exam.

Everyone. While we’re focused on serving the military community, all life insurance, health insurance and retirement products offered by USAA Life Insurance Company of New York and USAA Life General Agency are available to the public.

You should consider the longest available term based on your financial needs and goals. Be sure to consider life events and changes in your family situation.

Have questions about life coverage?

You can call us to speak with a licensed agent or schedule a call.

Call 800-531-LIFE (5433)

For TTY devices, dial 711

Hours

Monday to Friday
7:30 a.m. to 8 p.m. CT
Saturday and Sunday
Closed
Major holidays
Closed

Note: Days and time may vary.

More life insurance resources

Life insurance 101: Basics you should know

Article: 5 minutes

Read article: Life insurance 101: Basics you should know

Life insurance advice: Making the right choices for your family

Article: 4 minutes

Read article: Life insurance advice: Making the right choices for your family

3 benefits of term life insurance

Article: 6 minutes

Read article: 3 benefits of term life insurance

Related footnotes:

  1. The Term Life Event Option Rider is available at no additional cost with a Level Term V life insurance policy. It gives you a one-time option to purchase additional term life insurance upon the occurrence of a Life Event. Additional insurance limited to the lesser of $100,000 or the face amount of the base policy. Additional insurance requires payment of additional premium. Rider expires after 10 years or when insured is age 45, whichever comes first. The rider is subject to issue age limitations and other terms, limitations, and conditions. Availability and benefits may vary by state. Form: ICC1598284 03-15 (may vary by state); NY Form LBR98303NY 03-15.

  2. Protection for children is not available in all states. Term life insurance for children provided by a rider attached to the parent's life insurance policy. Term Life Insurance for Children Rider — Form LBR98550ST 07-16 (may vary by state); NY form NBR98592NY 08-19.

  3. Military Future Insurability Rider provides an option to obtain additional life insurance coverage upon separation from the military, subject to rider terms and conditions and characterization of military separation. New policy's level term period is dependent on the length of base policy's remaining level term period. Rider Form LBR97953ST 03-14 and ICC1497953 03-14 (may vary by state); in New York, Form NBR97955NY 04-15.

Related footnotes:

  1. 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.

  2. Health insurance solutions provided through USAA Life General Agency, Inc. (LGA) (known in CA and NY as USAA Health and Life Insurance Agency), which acts as an agent for select insurance companies to provide products to USAA members. LGA representatives are salaried and receive no commissions. However, LGA receives compensation from those companies, which may be based on the total quantity and quality of insurance coverage purchased through LGA. Plans not available in all states. Each company has sole financial responsibility for its own products.

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