The Uniformed Services Benefit Association (USBA) is a
nonprofit organization headquartered in
Overland Park, Kansas
Overland Park ( ) is the second-most populous city in the U.S. state of Kansas. Located in Johnson County, Kansas, it is one of four principal cities in the Kansas City metropolitan area and the most populous suburb of Kansas City, Missouri. As ...
, providing affordable group life insurance plans and other financial services specifically designed for active duty and retired military members and their families, as well as honorably discharged veterans, National Guard and Reserve members, and federal civilian employees.
History
USBA was founded in 1959 to meet the needs of active duty military personnel, who at that time wanted to supplement their SGLI $10,000 benefit and had difficulty finding adequate life insurance coverage that would cover combat-related deaths. USBA was one of the first to eliminate the so-called “war clause” from all of its coverage.
Over the years USBA expanded to offer those same insurance products and services to active reserves, National Guard, Federal Employees, honorably discharged veterans, and others.
Board of directors
USBA is governed by a
Board of Directors elected annually by the membership. The Board is composed of active and retired military members and Federal employees. Board members typically serve a three year term.
The Board of Directors meets semi-annually at USBA headquarters (Fall and Spring). The Board's duties are performed on a voluntary basis. Board members do not receive a salary.
Member eligibility
USBA membership is open to active duty servicemembers, retired military, honorably discharged veterans, National Guard and Reserve members, federal civilian employees and their families. There are no membership dues.
Lines of business
Life insurance
USBA offers group
term life
''Term Life'' is a 2016 American action drama film based on the graphic novel of the same name. It is directed by Peter Billingsley from a screenplay by A.J. Lieberman. The film stars Vince Vaughn, who also produces the film, Hailee Steinfeld ...
,
whole life and blended life insurance plans underwritten by
New York Life Insurance Company
New York Life Insurance Company (NYLIC) is the third-largest life insurance company in the United States, the largest mutual life insurance company in the United States and is ranked #67 on the 2021 Fortune 500 list of the largest United States ...
which has the highest financial strength ratings possible from all four major independent credit rating agencies:
Standard and Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is cons ...
(AA+),
Moody's Investors Service
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides internationa ...
(Aaa),
Fitch Ratings
Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations ( NRSRO ...
(AAA) and
A. M. Best
AM Best is an American credit rating agency headquartered in Oldwick, New Jersey, that focuses on the insurance industry. Both the U.S. Securities and Exchange Commission and the National Association of Insurance Commissioners have designate ...
(A++). USBA's group life insurance plans are often used to supplement
Servicemembers' Group Life Insurance (SGLI), or to replace SGLI benefits lost after separating from the military, instead of Veterans Group Life Insurance (VGLI).
TRICARE and CHAMPVA Supplemental Insurance Plans
USBA offers the following supplemental insurance plans which help cover out-of-pocket expenses such as cost shares and copayments.
* TRICARE Standard/Extra Supplement
* TRICARE Reserve Select Supplement
* CHAMPVA Supplement
Plans are administered by Association & Society Insurance Corporation (ASI) and underwritten by
Monumental Life Insurance Company (Cedar Rapids, IA),
Transamerica Financial Life Insurance Company, Harrison, NY, Transamerica companies.
Cancer Care Insurance
USBA's Cancer Care insurance, underwritten by Monumental Life Insurance Company (Cedar Rapids, Iowa), helps protect against the high cost of cancer treatment by covering expenses like hospital confinement, radiation and chemotherapy, ambulance rides, transportation, extended care facilities and more.
Hospital Indemnity Insurance
USBA's Hospital Indemnity insurance offers guaranteed acceptance for eligible members and pays tax free (according to current IRS rulings) benefits to cover hospital and doctor bills, as well as regular bills that pile up during a hospital stay.
Affinity Partners and Special Member Benefits
USBA members have access to additional special offers from Affinity Partners such as group auto insurance discounts from
MetLife Auto & Home, ID Theft Assist, Emergency Assistance Plus (EA+) travel emergency assistance services,
Life Line Screening,
Hertz
The hertz (symbol: Hz) is the unit of frequency in the International System of Units (SI), equivalent to one event (or cycle) per second. The hertz is an SI derived unit whose expression in terms of SI base units is s−1, meaning that o ...
rental car discounts, and
Long Term Care Insurance.
USBA provides a free online Military Jobs Resource Center for its members and non-members to assist military personnel with their transition from the service into civilian jobs. Transitioners can search for job openings, find transition advice, and get resume assistance from the nation's largest military placement agency, Orion International, and download helpful job search white papers.
References
{{Reflist
External links
USBA Official Website
Insurance companies of the United States
Financial services companies established in 1959
American veterans' organizations
Non-profit organizations based in Kansas