I first wrote this post five years ago in reaction to a client who had put their faith in USAA. They were a veteran and, after all, USAA makes much of being America’s patriotic insurance company. Their experience with USAA was nothing short of insulting, not just to a veteran, but to rational life insurance underwriting. I am re-writing and updating this post because this is not an isolated incident. All the best.
Does USAA Deserve Your Trust In Life Insurance
“We Stand By You”! Please understand that I’m not mad about USAA’s underwriting. There are plenty of companies out there who simply go by the book (their book), and don’t really consider all of the details of each case, an underwriting method that USAA employs. We (including USAA) all know that there is a difference between someone who has a mood disorder and is on multiple medications and won’t leave their house, and a doctor, stay at home parent or the CEO of a company with a well-controlled mood disorder on one medication, who shows up for work each day and is hard-working, successful and respected.
So, I broach this subject not because I think USAA should change their underwriting stance on mood disorders, but to veterans the time, effort and frustration of being misled. It always leaves me shaking my head when large, respectable insurance companies allow their agents to quote the best rate class, knowing that it won’t get approved that way. Honesty goes a long way toward building trust. Seriously, if standard (4th best rate class) is the rate that someone with ADHD gets at USAA, the honest thing to do is to quote standard life insurance rates to start with. If a person applies at standard and gets standard they are far less likely to contact me and find out that they can get preferred plus with other companies. Or would the truly honest route be for USAA to say to their clients that there are better options given their condition and steer them to a far better deal? I know. Fat chance, huh?
Who Can You Trust To Help You With Life Insurance?
You want someone to help you find the best possible life insurance for your situation, right? Rest assured you aren’t asking for a service that doesn’t exist. I’ve talked often about how life insurance companies and the agents that represent them simply aren’t created equally. For my clients it all comes down to how hard I’m willing to work to find the best deal and how good the company I choose for them is at looking beyond the underwriting manual and giving my clients a review based on the whole picture, not just the snippet that could portend a higher rate.
The best advice I can give is one of the guiding principles of Hinerman Group, shop it. Just like we don’t assume anything until we’ve shopped it, you shouldn’t assume that a quote or approved life insurance application that doesn’t feel right, is right. A second opinion isn’t just an option, it’s necessary to ensure you get the best value.
Trust is a big deal with me and I’m guessing it is for most people. I work hard for each customer to make sure you know your family or business protection is in good hands. If you’ve run into a bad experience or are applying for the first time and want to avoid a bad experience, call or email me directly. My name is Ed Hinerman. Let’s talk.