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USAA

USAA Universal Life

USAA Universal Life

What is universal life insurance?

John Hancock and USAA have teamed up to provide universal life insurance options that let you customize the timing and amount of your premium. Lifetime protection and potential for cash value accumulation give you the freedom to meet your needs today, plan for tomorrow and help protect your family.

Universal Life

Best for

Members seeking flexible premiums, a no-lapse guaranteeSee note6 and:

  • Less risk.
  • A 1% minimum guaranteed interest rate.
  • Growth tied to a current credited interest rate.

Universal life insurance is a type of permanent coverage. Its features include:

  • Coverage that lasts a lifetime if premiums are paid.
  • Flexibility to increase or decrease coverage or payments.See note1,See note2
  • Policies that have the potential to build tax-deferred cash value.
  • Potential cash value can be used to fund retirement, pay premiums and offset the cost of health care.See note3
  • Available with the John Hancock Vitality Program.

Why buy universal life insurance?

  • Flexible Payment Options

    Within certain limits, you can decide how much to pay and when. If you've built enough cash value, you may even be able to skip a few payments.

  •  

    Adjustable Coverage

    You can decrease your coverage amount, and your monthly payment may go down as a result. You can't increase your coverage.

  • Cash Value Potential

    Part of your premium is used to build cash value with a guaranteed minimum interest rate or market index performance. You can choose to let it grow or withdraw it if you need it.

Is universal life insurance right for me?

If any of these statements apply to you, universal coverage might be a good choice.

  • I already have term insurance.

    Term policies are great, but they expire. You should consider adding permanent coverage to ensure you have adequate protection.

  • I'm about to turn 70.

    If you have a term policy that expires after you turn 70 and you still need protection to cover a mortgage, debt or burial expenses, a universal policy may be a good option.

  • I want a policy with tax advantages.

    Universal life insurance offers the opportunity to build tax-deferred cash value. You can also borrow against it. You won't pay taxes unless the amount you borrow is more than you've paid.See note4

Explore our universal life insurance options.

Both policies feature a number of optional benefits, including the John Hancock Vitality Program, return of premiums and a critical illness benefit, among others.See note5 Call for additional details.





  1. Rates shown are for a 20-year term for a 35-year-old male at best risk class available for these products. Risk class is determined by factors such as tobacco use, health, family medical history and lifestyle. Quotes provided are intended for estimate purposes only. We round up your life insurance needs amount to the nearest commonly purchased coverage amount. The presented quote may represent a higher amount of coverage than you apply for. Your actual premium will be determined by underwriting review. Eagle Express: Premiums remain level for the duration of the Initial Benefit Period. Form ICC24516783 11-24 (varies by state). Go to usaa.com for details on specific policy costs, benefits, limitations and availability in your state. Not available in NY.

  2. As of June 1, 2025, A.M. Best: A++, Superior (highest of 16 possible ratings); Moody's Investors Service: Aa1, Excellent (second highest of 21 possible ratings); S&P Global Ratings: AA, Very Strong (third highest of 21 possible ratings). Ratings are subject to change. Ratings apply to USAA Life Insurance Company and USAA Life Insurance Company of New York not to the products or services they provide. Company ratings represent an opinion of financial strength and the company's ability to meet ongoing obligations to policyholders. Ratings refer to the claims-paying ability of the insurance company and do not reflect the safety or performance of any product. The rating agencies listed are independent of each other and use proprietary evaluation criteria and ratings scales. For the latest Financial Strength Ratings, visit www.ambest.com, www.moodys.com and www.spglobal.com/ratings.

  3. Military Protection Plus is level term life insurance with Military Severe Injury Benefit Rider and Military Future Insurability Rider. Eagle Express Life Insurance: coverage and premiums remain level for the duration of the policy. Term Policy Form (ICC24516783 11-24) (may vary by state). Not available in New York. Military Severe Injury Benefit Rider provides $25,000 to help with the expenses in the event of certain injuries while performing eligible military duties. Rider Form LBR67140ST 05-07 (may vary by state). 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 ICC23509575 11-23 (may vary by state). Military Severe Injury Benefit Rider not available in New York.

  4. Military Protection Plus is level term life insurance with Military Severe Injury Benefit Rider and Military Future Insurability Rider. Level Term V: coverage is level for the duration of the policy. Premiums remain level for the duration of the Initial Benefit Period, then increase annually. Term Policy Form ICC2099555 01-20 (may vary by state); in New York, New York Term Series V: Form NLT99235NY 06-20. Military Severe Injury Benefit Rider provides $25,000 to help with the expenses in the event of certain injuries while performing eligible military duties. Rider Form LBR67140ST 05-07 (may vary by state). Military Severe Injury Benefit Rider not available in New York. 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.

  5. Increases in coverage more than two times the base policy face amount up to the current maximum Servicemembers' Group Life Insurance (SGLI) amount depends on your health and is subject to underwriting approval.

Related footnotes:

  1. No Department of Defense or government agency endorsement.

  2. New York Residents — Domestic Violence Information. New York Insurance Regulation 168, titled "Confidentiality Protocols for Victims of Domestic Violence and Endangered Individuals" requires us to provide you with information related to Insurance Law 2612, which relates to discrimination based on being a victim of domestic violence, the regulatory required confidentiality of information protocols and the contact information for the New York State Domestic and Sexual Violence Hotline. You may download and print the information here (PDF).

  3. 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.

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