- Acceptance is guaranteed (no health questions or exams).
- Coverage lasts forever.
- Underwritten by an exceptionally strong insurance company.
- Two-year waiting period before you’re covered for nonaccidental death.
- You can get lower prices elsewhere by answering health questions.
- $25,000 is the most coverage you can buy.
AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.
Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).
S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.
How Does USAA Burial Insurance Work?
USAA final expense insurance is a guaranteed issue whole life policy that does not require you to answer health questions or undergo a medical exam. Because they know nothing about your health, there is a two-year waiting period.
Death during the first two years (except from an accident) will only result in a refund of your premiums plus 10% interest. After two years, then the full life insurance payout will be granted.
It’s important to note that USAA doesn’t underwrite the coverage. Mutual of Omaha is the actual insurance provider. Mutual of Omaha developed a partnership with USAA to promote this product to their customer base.
When you die, the policy proceeds will be disbursed as a tax-free cash payment to loved ones or a funeral home. The money can be spent with no restrictions. That means your loved ones can use the funds for cremation costs, burial expenses, debts, medical bills, or anything else.
As is the case with all forms of whole life insurance, the policy will last forever, the rate and death benefit remain level, and it will build cash value.
How Much Does USAA Final Expense Insurance Cost?
Generally, the typical cost of a USAA burial policy is $28-$193 per month for about $10,000 in coverage. Your exact age calculates the price of final expense insurance, how much coverage you buy, and your gender. Your health and lifestyle do not affect the price.
Below is a table with some sample quotes.
| Age & Gender | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| Female age 45 | $14 | $28 | $68 |
| Male age 45 | $19 | $36 | $90 |
| Female age 50 | $16 | $30 | $75 |
| Male age 50 | $21 | $40 | $99 |
| Female age 55 | $19 | $38 | $92 |
| Male age 55 | $23 | $45 | $112 |
| Female age 60 | $22 | $43 | $105 |
| Male age 60 | $29 | $57 | $141 |
| Female age 65 | $26 | $50 | $124 |
| Male age 65 | $35 | $69 | $170 |
| Female age 70 | $32 | $64 | $158 |
| Male age 70 | $44 | $87 | $215 |
| Female age 75 | $45 | $89 | $220 |
| Male age 75 | $57 | $113 | $282 |
| Female age 80 | $64 | $127 | $316 |
| Male age 80 | $79 | $157 | $391 |
| Female age 85 | $79 | $158 | $393 |
| Male age 85 | $97 | $193 | $480 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 08/01/2024. | |||
Should You Buy USAA Burial Insurance?
If, by some chance, you want or need a guaranteed acceptance policy, then USAA’s final expense policy is likely your best option. That’s because their cost for a policy without questions is generally the lowest. AAA and Physicians Mutual are the only other companies that offer similar rates for guaranteed acceptance coverage.
However, most people can qualify for life insurance coverage with no waiting period. It’s generally just a matter of identifying which burial insurance company(s) will accept your health issues and approve you for immediate coverage.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.
- this product. https://www.usaa.com/inet/wc/insurance-guaranteed-whole-life
- actual insurance provider. https://www.mutualofomaha.com/about/newsroom/article/usaa-life-insurance-company-introduces-guaranteed-issue-whole-life-insurance-from-mutual-of-omaha
- directly from Mutual of Omaha. https://www.mutualofomaha.com/promo/life-insurance/457026#quote
- A.M. Best. https://news.ambest.com/newscontent.aspx?refnum=248191&altsrc=23
- Moody's. https://www.mutualofomaha.com/about/financial-strength/ratings
- S&P Global. https://www.mutualofomaha.com/about/financial-strength/ratings
- BBB. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/mutual-of-omaha-0714-104000434
- Trustpilot. https://www.trustpilot.com/review/mutualofomaha.com
- Google. https://www.google.com/maps/place/United+of+Omaha+Life+Insurance+Co./@41.2919772,-96.3930632,11z/data=!4m10!1m2!2m1!1sMutual+of+Omaha!3m6!1s0x87938faddb631741:0x1c63fb3068a9098d!8m2!3d41.2585725!4d-95.9622597!15sCg9NdXR1YWwgb2YgT21haGEiA4gBAZIBEGluc3VyYW5jZV9hZ2VuY3ngAQA!16s%2Fg%2F1hc7zdp8w?entry=ttu
- Facebook. https://www.facebook.com/mutualofomaha
- NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=69868&REALM=PROD&COCODE=69868&REALM=PROD
- BBB Score & Accreditation. https://www.bbb.org/us/ne/omaha/profile/insurance-companies/mutual-of-omaha-0714-104000434
