Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
USAA burial insurance is available to everyone regardless of their military status.
But how does their coverage compare to other providers?
In this article, you’ll learn how USAA final expense insurance works, the limitations, and see price estimates.
How Does USAA Burial Insurance Work?
The primary policy that USAA offers to cover funeral expenses is a guaranteed issue whole life plan.
USAA and Mutual of Omaha developed a partnership for this product. USAA doesn’t actually underwrite the coverage.
Mutual of Omaha is the actual insurance provider.
There are no health questions to answer because your acceptance is guaranteed.
Because you cannot be denied due to health issues, there is a two-year waiting period.
Any non-accidental death during the first 24 months will only result in a refund of your premiums plus 10% interest.
You must live at least two years before the policy will pay out the full death benefit.
The policy proceeds will be disbursed as a tax-free cash payment. The money can be paid to loved ones or funeral home.
USAA final expense life insurance does not dictate where your funeral is carried out or how the money will be spent.
All the policy does is provide the funding for your funeral services so you don’t leave a financial burden on your loved ones.
Below is a table that outlines all the fine print and policy limitations.
| USAA Final Expense Insurance Details | |
|---|---|
| Coverage Options | $2,000-$25,000 ($5,000 in Washington) |
| Age Of Availability | 45-85 (50-75 in New York) |
| Policy Type | Whole Life Insurance |
| Policy Duration | Lifetime |
| Fixed Premiums | Yes |
| Health Questions | No |
| Medical Exam | No |
| 2-Year Waiting Period | Yes |
| Underwriting Class | Guaranteed Acceptance Life Insurance |
| States Where Available | All except Montana |
How Much Does USAA Final Expense Insurance Cost?
Generally, the typical cost of a USAA burial policy is $50-$150 per month for about $10,000 in coverage.
The final rate is calculated by your exact age, how much coverage you buy, and your gender. Your health and lifestyle do not affect the price.
Below is a table that outlines some monthly sample rates. Please remember that your specific age determines the price of final expense insurance.
| Age | Female $10,000 | Male $10,000 | Female $25,000 | Male $25,000 |
|---|---|---|---|---|
| 45 | $27.90 | $36.40 | $68.25 | $89.50 |
| 50 | $30.40 | $40.20 | $74.50 | $99.00 |
| 55 | $37.50 | $45.40 | $92.25 | $112.00 |
| 60 | $42.70 | $56.90 | $105.25 | $140.75 |
| 65 | $50.00 | $68.50 | $123.50 | $169.75 |
| 70 | $63.90 | $86.70 | $158.25 | $215.25 |
| 75 | $88.50 | $113.30 | $219.75 | $281.75 |
| 80 | $126.90 | $157.10 | $315.75 | $391.25 |
| 85 | $157.70 | $192.70 | $392.75 | $480.25 |
Pros And Cons
Every burial insurance program has both an upside and downside. USAA’s burial life insurance is no exception.
If you want or need a guaranteed life insurance policy, USAA is a great choice.
AAA final expense coverage is the only guaranteed issue policy that is potentially better.
However, most people can qualify for a policy that has health questions.
Buying a policy with underwriting will lead to lower prices and life insurance coverage with no waiting period.
If you have dire health issues such as dialysis or dementia, USAA’s coverage is an excellent choice. Otherwise, you’ll want to seek out other life insurance companies to cover the cost of a funeral.
Below is an overview of the pros and cons of USAA’s coverage of burials.
- Guaranteed acceptance
- Lifetime coverage
- Fixed premiums
- Can buy small amounts of coverage
- No medical exam or health questions
- Backed by a strong insurance carrier (Mutual of Omaha)
- Usually is the cheapest guaranteed issue coverage on the market
- 2-year waiting period before you’re insured
- Much lower rates available by plans with underwriting
- No coverage available in Montana
- Cannot buy more than $25,000 in coverage
- No coverage available under 45
Better Options To Consider
There are very few people who genuinely need a guaranteed acceptance policy. Therefore, USAA funeral insurance is rarely the best option for most people.
Below are five burial insurance companies to consider that will probably provide better coverage for you and your family.
1) Mutual of Omaha
Mutual of Omaha burial insurance that has no waiting period is only available through licensed insurance agents.
You cannot buy Living Promise directly from Mutual of Omaha.
To qualify, you do need to answer health questions. If approved, you’ll be fully insured the day you make your first payment.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 45-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,000-$50,000 | |
| States Available: All States (except New York) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness or is under nursing home confinement. | |
| Optional Riders: Accidental Death (2X the payout for accidental death) | |
| Application Details | Where to Apply: Agencies licensed to sell Mutual of Omaha products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 10 Minutes to 2 Business Days | |
Common health conditions still eligible for no waiting period coverage: Aneurysm Arthritis Asthma Blindness Blood clots > 2 years ago Blood thinners Cancer > 4 years ago Circulatory surgery > 2 years ago Crohn’s disease Depression Diabetes (type 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis A or B High blood pressure High cholesterol Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 2 years ago Tumors (non-cancerous) |
|
2) Aetna
Aetna is likely the best company for you if you’re a senior over 80 who needs life insurance. Shockingly, they offer life insurance up to age 89.
Aetna burial insurance for seniors is very accepting of various high-risk medical issues. If you’re approved, there is no waiting period.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 40-89 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,000-$50,000 (varies by age) |
|
| States Available: All States (except New York) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness that is expected to cause death within 12 months. | |
| Optional Riders: Accidental Death (2X the payout for accidental death) |
|
| Application Details | Where to Apply: Agencies licensed to sell Aetna products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 15 Minutes-3 Business Days | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm (if surgically repaired) Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 2 years ago Chronic bronchitis Circulatory surgery > 2 years ago COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic coma > 2 years ago Diverticulitis Epilepsy Fibromyalgia Graves’ disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis > 2 years ago High blood pressure High cholesterol Insulin shock > 2 years ago Lupus Multiple sclerosis Obesity Over 85 life insurance Pacemaker (installed > 1 year ago) Parkinson’s disease Sarcoidosis Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors (noncancerous) |
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3) Royal Neighbors of America
Royal Neighbors of America doesn’t advertise on TV, so their name is unfamiliar to most people. Don’t let that dissuade you from considering them.
They have been in business for over 100 years and have A rating’s across the board.
Their final expense coverage is well priced and has no waiting period.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 50-80 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $7,000-$30,000 | |
| States Available: All States (except AK, AL, HI, LA, MA, NH, NY) |
|
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: None | |
| Application Details | Where to Apply: Agencies licensed to sell Royal Neighbors products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 10 Minutes | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 2 years ago Circulatory surgery > 2 years ago Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic neuropathy Diverticulitis Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis > 2 years ago High blood pressure High cholesterol Home health care Multiple instances of cancer Pacemaker (installed > 2 years ago) Retinopathy Schizophrenia Scleroderma Severely overweight Sleep apnea Tia mini-strokes Tumors |
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4) American Amicable
American Amicable is another insurance provider that isn’t a household name. They have been in business for over a century and have an A rating with A.M. Best.
Particularly for smokers, they have well-priced final expense insurance for seniors.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 50-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,500-$50,000 (varies by age) | |
| States Available: All States (except CT, ME, MT, NH, NY, VT) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: None | |
| Application Details | Where to Apply: Agencies licensed to sell American Amicable products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: < 10 minutes | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm > 3 years ago Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 3 years ago Circulatory surgery > 3 years ago Crohn’s disease Depression Diabetes (type 2) Diverticulitis Fibromyalgia Grave’s disease Heart attack > 3 years ago Heart surgery > 3 years ago Hepatitis > 3 years ago High blood pressure High cholesterol Pacemaker (installed > 3 years ago) Schizophrenia Scleroderma Sickle cell anemia Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 3 years ago Tumors (non-cancerous) |
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5) Transamerica
Transamerica burial insurance is one of the few carriers that offer no waiting period to people with chronic conditions such as COPD.
All around, they have some of the lowest prices on the market.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 45-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $1,000-$50,000 (varies by age) | |
| States Available: All States | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness that is expected to cause death within 12 months. | |
| Optional Riders: Accidental Death (2X the payout for accidental death) | |
| Application Details | Where to Apply: Agencies licensed to sell Transamerica products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 15 Minutes- 5 Business Days | |
Common conditions still eligible for no waiting period coverage: Afib Angina (chest pains) Aneurysm (if surgically repaired) Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 4 years ago Chronic bronchitis Circulatory surgery > 1 year ago COPD Crohn’s disease Depression Diabetes (type 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis High blood pressure High cholesterol Kidney disease Lupus Multiple sclerosis Pacemaker (installed > 1 year ago) Parkinson’s disease Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors |
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USAA earned 2.5 stars out of 5 for overall performance. Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, complaint data from the National Association of Insurance Commissioners, and financial strength ratings.
Learn about our rating methodology.
