Today, I’d like to share the top 13 military friendly insurance companies, as I see it.
Insurance, it is something we all really need to have, but truly hate paying the bill. It seems there are so many things a person needs to have insurance on:
- Long-Term Care
- and more
And when you watch that money flowing from your bank account to the insurance company, it is easy to question why. Until a catastrophe happens.
I know this firsthand. I paid home insurance for years. I often thought about all the money I had given that company.
The day was hot and muggy as we went shopping at Walmart. I looked at my wife as we were on the highway and told her there must be a big fire, as I saw smoke billowing into the air.
As we neared our home, I broke down as did my wife. It was our home and all of our possessions.
It was difficult, but thanks to the fabulous Red Cross, our Pastor and our Church, and a wonderful insurance agent and great company, we were able to get back on our feet. Thank God I had paid my insurance premiums.
Yes, insurance for anything and everything that is called for is wise. You just never know when something can happen.
Top 13 Military Friendly Insurance Companies
In the paragraphs below, I am going to share the top 13 military friendly insurance companies. Most of these companies offer a variety of different insurance policies to choose from, such as home, auto, life and health. Some of these military friendly insurance companies even offer banking and investments.
I will attempt to explain the various forms of insurance they handle. Starting at #13 and working up to #1, here are the most military friendly insurance companies.
#13: Navy Mutual
Navy Mutual is headquartered in Arlington, Virginia. They offer life insurance, annuities and more.
The company has been in business for more than 140-years now. They cater to current and former military personnel. According to the company’s website, they have an A+ Fitch Rating, more than $3 billion in assets and a 98.4% customer retention rate.
Navy Mutual is the nation’s oldest congressionally chartered Veterans Service Organization (VSO). As a VSO, Navy Mutual is authorized to represent and assist veterans and their beneficiaries in applying for and contesting benefit claims before the U.S. Department of Veterans Affairs (VA). Veterans of any branch of the U.S. uniformed services and their survivors are eligible for VSO services from Navy Mutual at no charge. At Navy Mutual, our area of expertise pertains to survivor benefits such as Dependency and Indemnity Compensation (DIC) and burial benefits.
Source: Navy Mutual
Founded in 1999, Esurance was developed so people could handle all their insurance needs online, or by phone. They offer many special discounts for military personnel.
You can get insurance for:
- & More!
According to the company’s website, Esurance has insured more than 5.2 million vehicles to date. They employ over 3,000 associates, have 17 offices around the country, offer auto insurance in 43 states, and they settle most claims in 10-days or less.
Esurance may be well worth examining for your insurance needs.
AAFMAA stands for American Armed Forces Mutual Aid Association.
American Armed Forces Mutual Aid Association is a not-for-profit, tax-exempt, member-owned association that provides life insurance and survivor services to the U.S. Armed Forces communities. In 2012, membership exceeded 90,000.
Founded in 1879, the company is headquartered in Virginia. It employs approximately 68 people and handles around $1.26 billion in assets.
#10: Navy Federal
Navy Federal Credit Union is a US credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration. Navy Federal is the largest natural member credit union in the United States, both in asset size and in membership.
Tracing its roots back to 1933, Navy Federal employs more than 15,000 people. The company has more than 8.4 million members and manages more than $100 billion in assets. Navy Federal joined forces with Geico to offer insurance to its members.
The life insurance plans by this company that caters to military personnel are underwritten by New York Life. They also offer supplemental plans for those on TriCare. USBA is based in Overland Park, Kansas and has a good reputation.
The Uniformed Services Benefit Association is a not-for-profit association that provides a family of affordable insurance and financial products and services to military personnel, Federal employees, National Guard and Reserve members, Veterans and their families with the highest ethical standards of conduct and service.
Source: USBA website
Progressive Insurance traces its beginnings to 1937. It is headquartered in Mayfield, Ohio and is publicly traded on the New York Stock Exchange.
This is one of the largest vehicle insurance agencies in the U.S. But, they also insure homes and more. And, they have discounts for military personnel.
This insurance company has grown to its size because of the way they treat people. So you may want to check your rates with them.
Here’s what I found out about AFBA, according to their website.
For 70 years, AFBA has stood by our country’s armed forces. AFBA provides access to life insurance, through our carrier 5Star Life Insurance Company, in both war and peace to those who serve this great nation including our military, emergency first responders, government employees, and their families.
AFBA was created as a nonprofit organization in 1947 with the support of General of the Army Dwight D. Eisenhower “to promote the general welfare and economic interests of its members and their families by providing superior benefits and services principally to military families during peace and war.” At that time, service members could not purchase life insurance that would pay a death benefit if the member was killed in a war zone.
What makes AFBA unique is that the insurance coverage offered to its members continues to have no combat or terrorism exclusions. AFBA also offers other financial benefits and services to its members.
Source: AFBA website
By becoming a member, you can get great deals on life insurance along with a slew of other benefits.
They also offer banking and loan services. They were started in 1947 to serve military members.
#6: American Family
American Family Insurance, also abbreviated as AmFam, is an American private mutual company that focuses on property, casualty, and auto insurance, and also offers commercial insurance, life, health, and homeowners coverage as well as investment and retirement-planning products.
Source: Company website
I can vouch for this insurance company. They treat their clients well. They have property, life, health and more. They employ more than 11,000 people and are headquartered in Madison, Wisconsin. You can see the American Family website here.
Be sure and tell them you are military to watch your rates get reduced.
#5: Servicemembers Group Life Insurance (SGLI)
All service members are eligible for the SGLI program offered through the government. It is highly recommended that you take this benefit while you are serving in the military.
It’s easy to create your account and the premiums will be taken directly out of your paycheck. The rates do rise substantially when you leave the military though.
This is one of the largest insurance carriers in the U.S. AllState was founded in 1931. The company offers many different types of insurance to choose from.
They offer some wonderful discounts to members of the Armed Forces. AllState offers nearly any kind of insurance you could possibly need, so I highly suggest you compare their rates.
The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with more than 113 million proprietary policies. Allstate offers a broad array of protection products through multiple brands and diverse distribution channels, including auto, home, life and other insurance offered through its Allstate, Esurance, Encompass, SquareTrade and Answer Financial brands. Allstate is widely known from the slogan “You’re in Good Hands with Allstate.”
Source: Company website
#3: Armed Forces Insurance (AFI)
This insurance company was started by military to help military. It was founded in 1887 and is located in Leavenworth, Kansas.
Offering a variety of insurance types, all I hear are great reviews of AFI.
The AFI mission statement says it all:
Provide premium quality, competitively priced property and casualty insurance products and deliver fast, fair, and efficient claims and policy service to our members. Create a rewarding customer service experience for our members while strictly adhering to our core competency, underwriting. Protect our members from fortuitous loss and provide peace of mind.
The Government Employees Insurance Company is an American auto insurance company with headquarters in Chevy Chase, Maryland. It is the second largest auto insurer in the United States, after State Farm.
Geico was founded in 1936 in Fort Worth, Texas. The company employs approximately 40,000 people and had approximately $25 billion in revenue in 2017.
We have all seen that little gecko telling us we need Geico. When it comes to auto insurance, Geico steps up to the plate for members of our military. You really should get a quote from the gecko’s boss at Geico.
USAA easily earns the top spot on this list for military friendly insurance companies.
USAA traces its roots back to 1922. It is located in San Antonio, Texas. USAA employs more than 30,000 people and has more than 12 million members. 2017 revenue was more than $30 billion.
When it comes to insurance, USAA offers:
- Auto Insurance
- Health, Dental and Vision
- Homeowner’s Insurance
- Renter’s Insurance
- Life Insurance
- Umbrella Insurance
- And Much More!
They also offer banking and investing options.
Although Greg wrote this post, I’d like to share my insights on USAA.
I’ve banked with USAA since I was commissioned as a Second Lieutenant in May 2000. One of the ROTC cadre at my university told me the first thing I should do after graduation is open a checking account and retirement account with USAA, so I did.
Over the past 19-years, USAA has treated me very well. My wife and I insured our vehicles with USAA. We purchased life insurance with USAA. We did our banking and investments with USAA.
Every time I call the company, they address me by Major Holmes. They are polite, helpful and good at what they do. Their rates are good. Their reputation is excellent. Their customer service is out of this world.
I will definitely be a USAA member for life.
~ Chuck Holmes, webmaster, Part-Time-Commander.com
So which insurance company do you use? Do you have any testimonials for or against any of these military friendly insurance companies?
We would love to hear your experiences and opinion. Thank you for your service. You can leave all comments and questions below.