Top 7 Best Life Insurance Companies for Military Families in the USA
Military families face unique challenges—financial security shouldn’t be one of them. Whether you’re active-duty, a veteran, or a military spouse, having the right life insurance coverage is essential to protect your loved ones.
Fortunately, several life insurance companies specialize in serving military members and their families with flexible coverage, affordable premiums, and exclusive benefits. In this guide, we’ll explore the best life insurance options for military families in the USA.
Contents
Why Military Families Need Specialized Life Insurance
While the government offers Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI), many military families find these policies:
- Insufficient for long-term needs
- Too expensive after leaving service
- Lacking in customization
That’s why many choose to supplement or replace SGLI/VGLI with private life insurance policies tailored for military life.
Best Life Insurance Companies for Military Families in the USA
1. USAA Life Insurance
Best For: Military-focused benefits and long-term coverage
Available To: Active duty, veterans, spouses, and children
USAA is built for military families. With term and permanent life insurance options, USAA offers military-friendly policies that continue even after separation from service.
Key Features:
- No war or aviation exclusions
- Competitive rates for military personnel
- Excellent financial strength (AM Best A++)
Why We Recommend It: Trusted, transparent, and built for military families.
Best For: Affordable, non-profit coverage for military members
Eligibility: Active duty, retired military, Coast Guard, and their families
Navy Mutual is a not-for-profit insurer dedicated to providing affordable life insurance with no hidden fees. They offer flexible term and whole life policies.
Key Features:
- No combat or deployment exclusions
- No sales pressure (non-commissioned staff)
- Free military benefits counseling
Why We Recommend It: Mission-driven and cost-effective for long-term security.
3. AAFMAA (American Armed Forces Mutual Aid Association)
Best For: Military families seeking financial services beyond insurance
Eligibility: Active duty, veterans, spouses, and dependents
AAFMAA has served military families for over 140 years. They offer term, whole, and survivor life insurance with military-friendly underwriting and additional benefits like wealth management.
Key Features:
- Survivor assistance services
- No military service restrictions
- Personalized financial planning
Why We Recommend It: More than insurance—it’s a full financial partner for military families.
4. Prudential Life Insurance
Best For: High coverage limits and flexible policy options
Availability: Nationwide
Prudential is one of the few large providers that accepts active-duty military applicants and offers customizable term and permanent policies with military riders.
Key Features:
- Accepts some high-risk occupations
- Flexible coverage terms
- Strong financial ratings
Why We Recommend It: A great option if you need larger or more tailored coverage.
5. Veterans United Life Insurance
Best For: Veterans and transitioning service members
Eligibility: Veterans, former service members, and eligible family members
Veterans United offers term life insurance with a focus on serving those who’ve transitioned out of the military. Their coverage fills the gap left when SGLI ends.
Key Features:
- Coverage continues after service
- Fast application process
- No deployment or travel restrictions
Why We Recommend It: Ideal for veterans who want affordable post-service protection.
6. Globe Life
Best For: Quick coverage with no medical exam
Available To: General public, including military families
Globe Life provides simplified issue life insurance—great for military spouses or family members who need quick, affordable coverage without medical exams.
Key Features:
- No exam required
- Low starting premiums
- Policy options for children
Why We Recommend It: Quick and easy option for dependents or secondary coverage.
7. MassMutual
Best For: Permanent life insurance and financial strength
Availability: Nationwide
MassMutual doesn’t cater specifically to military families but offers exceptionally strong whole life and term policies. They’re ideal for those looking for long-term estate planning.
Key Features:
- Dividend-paying whole life policies
- Customizable riders
- High financial stability (A++ AM Best)
Why We Recommend It: Great choice for financially savvy military families planning long-term.
Government Options: SGLI, VGLI, and FSGLI
Before going private, it’s important to understand the government’s military life insurance options:
- SGLI (Servicemembers’ Group Life Insurance) – Up to $500,000 while on active duty
- VGLI (Veterans’ Group Life Insurance) – Post-separation coverage, renewable for life
- FSGLI (Family Servicemembers’ Group Life Insurance) – Coverage for spouses and dependents
Limitation: These policies can become expensive or less flexible over time, which is why many military families consider private supplemental life insurance.
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How to Choose the Right Life Insurance for Your Military Family
When evaluating life insurance companies, consider:
✅ Eligibility – Some companies only serve military families
✅ Coverage flexibility – Do they cover combat, deployment, aviation?
✅ Premium stability – Will rates change after leaving service?
✅ Customer support – Are they familiar with military life?
✅ Financial strength – Look for AM Best A or higher
Final Thoughts
Finding the right life insurance for your military family means balancing affordability, flexibility, and long-term peace of mind. Whether you choose a military-exclusive provider like USAA, AAFMAA, or Navy Mutual—or a larger insurer with flexible terms like Prudential or MassMutual—your family deserves coverage that adapts to the unique demands of military life.
Pro tip: Don’t wait until after separation. Lock in affordable premiums now while you’re young and healthy.
Steve George is Blogger, a marketer and content writer. He has B.A. in Economics from the University of Washington. Read more about Mzuri Mag.
