USAA Expands Availability Of New Digital Life Insurance Product
In response to increasing interest in a simplified application process and lower prices, USAA Life Insurance Company (USAA Life) today announced its new digital life insurance product that requires no medical exam is now available in 47 states.
According to USAA’s “Life Can’t Wait” survey, monthly cost and no medical exam requirement are important factors when deciding on a life insurance company. Approximately 58 percent of respondents said that cost was the single most important factor. Not requiring a medical exam was cited by 24 percent of respondents.
Addressing those specific needs, USAA Life’s Essential Term Life Insurance (ETLI) is available to consumers ages 21-35 starting at $15 per month, with small cost increases each year and only requires the completion of nine simple health questions. If eligible, the $100,000 policy is approved instantly and coverage lasts until the policy anniversary following the insured’s 39th birthday.
“We know that one of the biggest pain points in getting life insurance is a medical exam,” says Rob Schaffer, vice president and general manager for life insurance at USAA Life. “With this new product, we’re making it easier for younger consumers to get the life protection they need.”. Source