USAA Mobile Life Insurance App Allows Members to Apply on a Mobile Platform

by on Feb 27, 2013

usaaUSAA’s new mobile life insurance app provides its members with the ability to get a personalized quote and to apply electronically. Non-members can receive a customized quote as well but must register before applying. In addition to downloading the app, these capabilities can also be accessed from the mobile optimized website.

The initial app screen provides the user with a general description of term, whole and universal insurance products. Once the Life Insurance Quote feature is selected, the member must verify some basic personal information and answer a few health questions about their medical history, smoking habits and physical characteristics. The app extracts information from the member’s account, and pre-fills as quote information – a valuable feature which expedites the time taken to get a quote. The next screen allows the user to choose a product, the amount of coverage they want, desired payment option and where relevant, the benefit period or payment duration. Members can answer all of the application questions that have not been pre-filled from our member’s personal information on file. Once the member has verified that the information provided is correct, they can electronically sign the application. Upon submission of the application, a medical exam is scheduled and paid for by USAA. It is worth noting that users are not covered until the medical results are received and the policy is fully underwritten.

Mobile USAA Electronic Life Insurance Quote Signature Page

Closing Thoughts
Among the Life Insurance Monitor coverage firms, USAA is the first and currently exclusive producer of an app that provides consumers with the option to select, e-sign and apply for a life insurance policy on a mobile platform. Many of USAA’s military members are stationed around the world and this unique feature is extremely useful to members who may not have ready access to a computer. Not only does this feature allow users to purchase a life insurance policy from the convenience of their tablet or phone, but it also significantly expedites the initial sales cycle of prospecting, fact finding and meeting with an insurance agent in order to purchase life insurance. Advisors can benefit from this capability as well, as time spent on running insurance ledgers and highlighting various life insurance features can be done by the client, from their mobile phone. This newest capability promotes an expedited life insurance policy application period while targeting a mobile-savvy demographic and USAA is ahead of the competition in providing this unique feature.