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Oxford Life Insurance Reviews

Oxford Life is a relatively new life insurance company in an industry where companies have been established for over one hundred years. Unlike some insurance companies that have products for all ages, Oxford Life focuses on the senior market.

Protecting senior’s financial wellbeing is a top priority of the financial services industry because many seniors live on a budget. Are Oxford Life’s products worth it, or can you do better? Our Oxford Life review will help you decide if Oxford Life is the right company to work with.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Oxford Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


Oxford Life Insurance Company History

The Oxford Life Insurance Company was founded in 1965 in Phoenix, AZ. Oxford Life saw an opportunity to focus on supporting seniors with quality life insurance products and does so even today.

Oxford Life has grown over the decades through mergers and acquisitions. Oxford Life has the subsidiaries of the North American Insurance Company and the Christian Fidelity Life Insurance Company, both of whom support the senior market with life insurance products.

The Oxford Life Family of Companies has over five decades of experience with Medicare supplement, final expense life insurance, and annuities providing solutions for protecting senior’s health, life, and money.

Oxford Life Ratings and Financials

A.M. BestBBB
A- (Excellent)A-

Besides cost, a significant insurance company concern of seniors is can the company pay its claims. With some many life insurance companies operating in the United States, how can one be sure?

Oxford Life has been rated by third-party rating companies, like the A.M. Best Company, and has been issued an investment grade rating. A..M Best assigns ratings from A++ to F with A++ being their best rating.

A.M. Best recently assigned the Oxford Life Company a rating of A- (Excellent), which is one of their top marks. An A rating indicates that Oxford Life has stable financials and a strong ability to meet its claim obligation to its policyholders.

Oxford Life also delivers satisfactory customer service. While they are not an accredited business of the Better Business Bureau (BBB), Oxford Life was issued a BBB rating of A-, which is a top mark.

The BBB website states that the reason for the A- was the failure to respond to 1 complaint filed against the business. If Oxford Life responds to that claim, its rating will likely increase.

Oxford Life Insurance Products and Solutions

Oxford Life has a limited product suite for its clients focused on the senior market.  Oxford Life, however, did not make our list of best senior life insurance companies. That does not mean that Oxford Life’s products are bad, they just did not stand out enough to make the list.

Reasons for not making the list are tight underwriting, cost, and lack of a term life insurance option or universal life insurance option. However, Oxford Life does offer some interesting products, and we’ll be monitoring them closely as we are constantly updating the list.

Oxford Life Whole Life Insurance

Oxford Life offers three whole life insurance policies, two of which are focused on the final expense insurance market. Final expense insurance is a simplified whole life insurance policy that is marketed to cover burial costs and other final expenses.

Assurance Final Expense Life Insurance:

The Oxford Life Assurance Final Expense whole life insurance offers seniors ages 50-85 an affordable solution to covering their burial costs and final expenses. Once approved, your coverage will never decrease, and your rate can never go up.

As long as you are paying your monthly premiums, your life insurance coverage will last for the remainder of your life. The life insurance company cannot cancel your coverage no matter how sick you get!

The death benefits will be paid to your beneficiary federal-income-tax-free, not the funeral parlor. If there are proceeds left over, your loved ones can keep the money. Coverage is available in death benefits of $5,000 to $30,000.

Your whole life policy has liquidity as well. Your policy will grow guaranteed cash values over time that can be borrowed through tax-free loans or paid to you in cash if you cancel your policy.

The Oxford Life Assurance whole life also comes with built-in accelerated benefits for a terminal illness that allows you to advance some of the death benefits while you are still living if you’re diagnosed with a terminal illness. The policy also includes a common carrier rider.

The underwriting process for the Assurance whole life is simplified with no medical exam. You apply with a point-of-sale interview that will give you an instant decision at the end of your interview based on a few health questions and your prescription history. Talk about fast!

Assurance One: Single Premium Final Expense Life Insurance

Oxford Life also offers a single premium final expense whole life policy that is a unique offering in the final expense world. Unlike traditional final expense policies that have monthly premiums, only one lump-sum premium is needed to pay for the policy.

The Assurance One shares many of the features of the Assurance final expense policy with some notable differences. Coverage starts at age 55. Also, the Assurance One has accelerated death benefit riders for terminal illness, nursing home confinement, and chronic illness.

This option is great for a client who wants to leverage existing savings to cover their final expenses and free up some cash. Assurance One also has both a single and joint payout option.

The Assurance One has guaranteed cash value growth, but the contract is technically a modified endowment contract (MEC). MECs have different tax rules than life insurance when it comes to removing money from the policy, so consider it carefully.

Prosperity Select: Single Premium Whole Life Insurance

Similar to the Assurance One single premium final expense policy, Oxford Life offers another single premium whole life policy designed to cover higher death benefit amounts. These types of policies are generally used for estate planning purposes.

Coverages of $30,000 up to $500,000 are available to individuals ages 55 to 80. Only one lump-sum premium is paid at the beginning of your policy to guarantee your death benefits for the rest of your life.

Your coverage can neither be decreased after the premium is paid nor can your policy be canceled unless you request to surrender it. Your death benefit will be paid to your beneficiary federal-income-tax-free, and you receive tax-deferred guaranteed cash value accumulation.

Your policy has liquidy features, such as loans, in case of an emergency, but single premium whole life insurance is a modified endowment contract (MEC) that has different tax rules than life insurance so be sure to carefully consider the tax consequences loans.

You can also add on a return of premium rider to recoup your initial lump-sum premium, in addition, the death benefit that is paid out. This is attractive if you want to maximize your legacy to your heirs.

Underwriting for the Prosperity Select does not require a medical exam but does have questions regarding your health history. You will receive an immediate decision during your point-of-sale interview.

The Prosperity Select whole life policy also includes accelerated benefit riders for chronic illness, terminal illness, and nursing home confinement. While a nice inclusion, there are companies like Ameritas Life that have greater living benefits on its life insurance policies.

Single Premium Whole Life policies excel in transferring wealth from one generation to the next. You get a simliar risk profile and return to annuities or CDs, but with more favorable tax treatment upon death.

Oxford Life Annuities

Oxford Life also offers annuity products for seniors. Currently, Oxford Life offers three fixed indexed annuities and a Multi-year Guarantee Annuity (MYGA). Annuities grow your cash deferred of taxation and can offer guaranteed lifetime income similar to pensions.

Oxford Life Annuities:

  • Royal Select Fixed Index Annuity
  • Silver Select Fixed Index Annuity
  • Select Series Fixed Index Annuities
  • Multi-Select MYGA

Life insurance pays a lump sum to your beneficiaries when you die. Annuities pay you a monthly income stream while you are alive! There are no do-overs in retirement if you run out of money.

Oxford Life’s annuity solutions protect your hard-earned life savings from the drops in the stock and bond markets since your investment principal is not directly invested in the equity or fixed income markets.

Oxford Life annuities credit your account interest during the accumulation phase based on the performance of an index like the Standard and Poor’s 500 or a declared fixed interest rate.  You can add a guaranteed lifetime withdrawal benefit (GLWB) that will build your income benefit.

The GLWB provides you with guaranteed lifetime incomes without having to annuitize your money. This means that you maintain control over your savings, and your contract will have a death benefit and surrender value.

As your savings builds so does your income benefit. When you are ready to take your lifetime income, you will receive a predetermined guaranteed monthly benefit that you can never outlive.

Oxford Life Medicare Supplement Insurance

Oxford Life also offers Medicare supplemental insurance to help cover the out-of-pocket costs associated with the Medicare program. Many seniors are surprised to discover that Medicare does not pay 100 percent of their medical bills.

By purchasing a supplemental policy, you are ensuring that you are not stuck with a large medical bill that can bankrupt you in retirement. Rates and plans may vary from state to state. However, this is a list of general feature the policy coves.

Oxford Life Medicare supplement features:

  • Part A deductible and copayments
  • Skilled nursing care
  • Expended hospital care
  • Physician and hospital outpatient services and supplies
  • Ambulance fees and services
  • Physical therapy and speech therapy
  • Emergency health care received abroad from the United States

Final Thoughts: Is Oxford Life a Top Senior Option?

Oxford Life has been around for decades, and there is no sign of them slowing down. Oxford Life’s financials are solid, and its products are targeted towards seniors. Oxford Life has competitive rates, but their products are limited in scope.

The lack of a term life insurance option for seniors is a curious decision. We would suggest comparing your Oxford Life insurance quote against multiple companies to determine if you are truly getting the best deal that you can.

You can request a quote through our website, or give one of our agents a call. Our agents are veteran life insurance field underwriters. They can help you determine if Oxford Life is the best senior life insurance company for you or if there are better options out there.

Thank you for reading our Oxford Life insurance review. Please contact us with any questions.

FILED UNDER – LIFE INSURANCE COMPANY REVIEWS

Resources: Oxford  Life Insurance

Banner Life

Great-West Life Insurance Reviews

There are hundreds of life insurance companies in the United States that it can be next to impossible to determine who the best life insurance companies are. It is too time-consuming for the average person to vet them all. Luckily for you, that is our specialty.

We review life insurance companies like Great-West Life, so you don’t have too. We’ll cover all the need-to-know details so you can have peace of mind that the life insurance company you select is the best company for your family.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Great-West Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


Shall we begin?

Great-West Life History

Great-West Life Assurance Company was founded in Winnipeg, Canada by Jeffry Hall Brock. Great-West Life has been serving its policyholders for over 125 years. Not many life insurance companies can make that claim!

In 1893 Great-West paid its first death claim for $1,000 to a widow whose husband died in a bicycle accident. That claim allegedly saved her from financial destitution and gave Great-West policyholders reassurance that the company will make good on its promises.

By 1897, Great-West Life expanded into every province across Canada and then began to set its sight on its neighbor to the south, the United States. In 1906, the first U.S. office opened in North Dakota, US.

Great-West Life as an early innovator in the life insurance industry as one of the first life insurance companies to enter group insurance in Canada as well as the first Canadian company to enter the accident and health insurance business.

In 1969, the Power Corporation became the Great-West Life’s majority shareholder. In 1979, Great-West Life opened an American headquarters in Denver, CO.

The 90s and early 2000s was an exciting time for Great-West Life. The London Life Insurance Company and Canada Life (Canada’s first life insurance company) join the Great-West Life family.

Today, Great-West Life still is protecting the lives of its policyholders in North America. In 2016, Great-West Life helped more than 44,000 families by paying out more than $2.4 billion in life insurance death claims.

Great-West Life Ratings and Financial Strength

A promise is only as good as the entity backing it up. You need a life insurance company that you can rely on to be there and pay the check when the time comes. Great-West Life thus far has had a stellar reputation and a rock-solid balance sheet.

Great-West Life has been protecting families from financial devastation for over 125 years. While the past is no predictor of the future, it can be comforting to know that you are doing business with an experienced company instead of a start-up.

Great-West also has investment-grade ratings from third-party rating agencies like the A.M. Best Company and Standard and Poors. A.M. Best affirmed Great-West Life’s Financial Strength Rating of A+ (Superior), which is one of A.M. Best’s highest marks.

If you are looking for a second opinion, Standard and Poors and Fitch both issued an investment-grade rating for Great-West Life as well. Fitch and S&P’s rating for Great-West Life is AA.

Great-West Life Financial Ratings:

A.M. BestDBRS LimitedFitchMoody’sStandard and Poor’s
A+AAAAAa3AA

Great-West Life is not an accredited business by the Better Business Bureau (BBB) as of the writing of this article. However, Great-West Life does hold a BBB rating of A+, which reflect the BBB’s opinion about how the organization interacts with its customers.

Great-West Life Insurance Solutions

Great-West Life offers many types of life insurance products to protect the lives of its policyholders, including term life insurance, whole life insurance, and universal life insurance.

Great-West Life also offers other life and health products, such as disability insurance, critical illness insurance, and health and dental insurance. While our Great-West Life insurance review will focus heavily on their life products, we will cover their other products as well.

Great-West Term Life Insurance

Great-West Life offers term life insurance as an affordable life insurance solution to protect families with a temporary death benefit. Term life insurance provides inexpensive death benefit protection for a defined period of time that you select.

Your rate will be locked in and will never increase over the duration of that term period. If you die, your beneficiaries will receive an income-tax-free death benefit paid in cash. Term life insurance is ideal for temporary needs like mortgage protection or children’s education cost.

Great-West Life offers term periods of 10 or 20 years. You can exchange your term life insurance with a permanent life insurance policy when you are ready through a term conversion. Term life insurance has no cash value so you cannot borrow against it like whole life.

Great-West term policy’s application process consists of a medical exam, which is like a mini-physical. You may need to provide the underwriter your medical records as well. The entire process can take 4-6 weeks on average.

There are accelerated underwriting programs that are increasing in popularity that allow you to purchase term life insurance with no medical exam. The best no-exam life insurance companies can underwrite you instantly in some cases, but usually within 48 hours.

Great-West Life Whole Life Insurance

Great-West Life offers participating whole life insurance. Participating life insurance means that you participate in the profits of the insurance company and are eligible to receive a non-guaranteed dividend at the end of the year. Non-participating policies receive no dividends.

This dividend can be taken as cash, used to reduce your insurance premiums, or reinvested into the policy as a paid-up addition. Paid-up additions increase your life insurance death benefit and cash value.

Your insurance death benefit is in effect for the rest of your life, and your monthly payment can never be increased for the rest of your life. Your cash value grows within the policy tax-deferred, and the death benefit is paid income-tax-free upon your death.

You can borrow money from your life insurance policy through tax-advantaged loans that are secured by the death benefit. You don’t need to qualify financially for these loans or even pay them back. If they are unpaid at death, they will be deducted from your death benefits.

Whole life can be useful to cover things like final expenses and burial coverage when you pass away. Whole life does have uses in real estate businesses as well. We have even seen it used in estate planning.

Great-West Life Universal Life

Great-West Life also offers universal life insurance, which is another type of permanent life insurance.  Think of universal life insurance like whole life insurance’s flexible little brother.

Where whole life forces you to pay a certain premium to guarantee your lifetime death benefits, universal life allows you to adjust your premium payments, within certain limits, so you can adapt with your changing needs.

The money goes into a policy fund that’s used to pay the cost of the insurance policy. A portion will go to your policy expenses, and the remaining amount is invested on a tax-deferred basis. You choose from a variety of investment options depending on your risk tolerance.

Types of Universal Life Insurance:

  • Current Assumption Universal Life – Credits interest from a variable interest rate
  • Indexed Universal Life – Credits interest based on an  indexed strategy
  • Variable Univeral Life – Invests your cash value in investment subaccounts.

The money in your universal life insurance cash fund can be borrowed against or withdrawn. If you borrow or withdraw from the cash account, it reduces the policy’s cash value and death benefits.

We use a lot of universal life insurance in estate planning cases or senior life insurance when a client wants lifetime death benefits and is OK taking on more investment risk to secure the permanent death benefit of the universal life insurance policy.

Great-West Life Disability Insurance

Great-West Life offers disability insurance in addition to its life insurance to protect its policyholders from the financial devastation of disability. When you cannot work due to illness or injury, disability insurance kicks in to keep your income coming in.

Once you are defined as disabled, you will receive a monthly disability payment once your initial waiting period is over. You can use this income to cover household expenses while you recover and avoid dipping into long-term savings like your retirement to survive.

Great-West Life Critical Illness Insurance

Great-West Life also offers critical illness insurance. Critical illness insurance awareness is still relatively low in the industry, but its importance is growing. Critical illnesses, like heart attack, are not the death sentences that they were a few decades ago.

Critical illness kicks in if you experience a condition regardless of if you die. Since critical illnesses can cause many of the financial hardships that death does, critical illness is an important part of your financial plan.

The money that you get through your critical illness policy can be used to cover the cost of medications, treatments, and services not covered by your major medical plan. It can also be used to cover your household expenses if a loved one quits work to care for you.

Great-West Life Heath and Dental Insurance

If you do not get health or dental insurance through your employer, then you are exposing yourself to a great financial risk. Individual health insurance covers you and your family if you become sick or injured and need medical attention.

Disability insurance will keep your income flowing. Health insurance will pay for the cost of your care. If you do not have access to group health insurance, then an individual policy is your next best option.

Other Great-West Life Insurance Solutions and Financial Services

Great-West Life also offers wealth management, group benefits, and business owner insurance to its policyholders.  Individual insurance is only one piece to a complex financial puzzle for many people.

Insurance will protect the things that you care about the month from the “what ifs” in life. However, you need to focus on growing your wealth as well through investments and banking services.

Great-West Life offers full financial services to its policyholders so you can take control of all aspects of your financial well-being from retirement planning to buying your home.

Final Thoughts: Is Great-West Life the Life Insurance Company for Me?

Great-West Life is a fantastic insurance company with a historic legacy. It has a bullet-proof financial strength and offers a wide variety of life and health insurances as well as financial services to its clients.

If you are looking for a one-stop shop that can handle all your financial needs, then Great-West Life may be a good option to consider. However, if you just are looking for a quality life insurance policy, you may want to compare Great-West Life with other companies.

One thing that we struck us as odd is that Great-West Life did not offer more than a 10-year or 20-year term life policy (most companies will offer 15-year and 30-year options). Also, if you have a pre-existing health condition, Great-West Life may charge you more.

Therefore, we recommend working with a knowledgable independent agent who is an experienced field underwriter and can broker over 20 life insurance companies. They should be able to match you with the best company for your needs.

Thank you for reading our Great-West Life insurance review. Please contact us if you have any further questions or request a quote from our site to compare the rates of dozens of top-rated life insurance companies.

FILED UNDER – INSURANCE COMPANY REVIEWS

Resources: Great-West Life Insurance

Banner Life

Pan-American Life is a company built on a 100-year heritage of improving its policyholder’s well-being. Many life insurance companies have come and gone over the years. Pan-American Life is one of the survivors, however.

Pan-American Life Insurance Reviews

Our Pan-American Life insurance review will go in depth on its financial strength and its life insurance product offerings. We will also touch briefly on the other insurance product offerings on Pan-American’s menu.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Pan-American Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


If you are considering buying insurance from Pan-American, you need to read this review first. Every insurance company has different niches and rates tailored to your unique circumstance. You don’t want to make a final decision without comparing multiple companies first.

Pan-American Life Insurance History

Pan-American Life was founded in New Orleans, LA in 1911. Crawford H. Ellis, Edward Simmons, Marion Souchon, and Eugene McGivney were the founding members of Pan-American.

In the beginning, Pan-American Life had a distinct mandate. Pan-American Life was targeting the insurance needs of individuals and business in Latin America. Ellis had recognized a need for insurance services while transporting goods between New Orleans and Central America.

In 2011, Pan-American celebrated its 100th Anniversary as a life insurance company. While Pan-American has grown beyond just servicing Latin America today, Ellis’s vision is still in at the core of Pan-American’s corporate culture.

Today, Pan-American Life serves 22 countries in the Americas, has 1950 employees, has insured over 5.8 million lives, and is a highly-rated and respected life insurance company.

Pan-American Life Ratings and Financial Strength

A life insurance policy is only as good as the company guaranteeing the promise. It doesn’t matter how great a deal you got on your life insurance if the company cannot pay the claim when the time comes.

Third-party rating agencies, such as The A.M. Best Company, will evaluate insurance companies in order to determine the likelihood of payment of benefits. Pan-American Life holds strong ratings with the agencies that have reviewed it.

A.M. BestFitch
A (Excellent)A (Strong)

Pan-American’s is an A-rated company by A.M. Best and Fitch. An A rating is an investment grade financial strength ratings, and it indicates a high likelihood that the company can pay its benefits from a financial perspective.

As of the writing of this review, Pan-American Life is not an accredited business with the Better Business Bureau (BBB).  Also, Pan-American Life does not have a BBB rating due to the lack of sufficient information to issue a rating according to the BBB website.

Pan-American Life Insurance Solutions

Pan-American offers life, health, and accident insurance solutions for its policyholders. Pan-American works in both the individual market and the group insurance market offerings quality products to solve their client’s insurance needs.

Pan-American Term Life Insurance

Pan-American offers level-term life insurance that lets you choose a fixed period of time to cover your life. This temporary coverage usually has a lower cost than permanent life insurance and is an ideal option for covering temporary needs like your mortgage balance.

Pan-American offers term life insurance periods in 10, 15, 20, and 30-year level-term periods. During the term period you select, your premium can never be increased, and if you die, your beneficiaries will receive an income-tax-free cash payment.

When your level-term period ends, you have a decision to make. You can continue the policy by paying year-by-year, but the life insurance company can and usually does increase your premiums annually. The increase can be quite large.

Therefore, many clients choose to either replace their term policy or convert it. A term conversion allows you to exchange the temporary term policy with a permanent whole life policy that is lifelong without having to redo any exams or prove your insurability.

Pan-American Whole Life Insurance

Pan-American offers whole life insurance, which is a form of permanent life insurance. Whole life insurance provides your peace of mind that when you die, there will be a set amount of money paid to your loved ones.

Since whole life insurance is a lifetime policy, you cannot outlive the coverage. Whole life insurance also come is strong guarantees that you can rely on. Once your premium is set at the beginning of the policy, it remains level for the remainder of your lifetime.

Whole life insurance also comes with a guaranteed cash value growth. Each year you will be able to predict the cash value that accumulates in the savings account of the policy. The cash value grows tax-deferred, and you get cash from your policy through tax-free loans.

When you pass away, the guaranteed death benefit is paid to your beneficiaries income-tax-free. Any outstanding loans that you have on the policy will be subtracted from the death benefit total.

Whole life can be used for any number of life insurance needs. However, whole life makes a great final expense insurance solution. Final expense policies are simplified issue whole life policies that require no medical exam. The death benefit covers burial and funeral costs.

Pan-American Universal Life Insurance

Pan-American universal life insurance was created to offer policyholders greater flexibility in permanent life insurance compared to the rigidness of whole life. Universal life has a savings component like whole life insurance, but the cash value growth is not guaranteed.

You can select your monthly premium within a certain range and fund the policy as aggressively or tight as you like. The more money you put in the policy, the less reliant you are on the investment return to fund the death benefit later in life.

The cash value grows tax-deferred like whole life insurance, and you can access it through tax-free withdrawals or loans as well. Since universal life insurance often lacks the guarantees of whole life, you need to monitor the policy’s performance frequently to be certain that the policy is able to fund support the expenses of the death benefit.

If the investment performance of your universal life insurance policy performs less than expected, there may not be enough funds in the policy to support the death benefit later in life. As a result, you may need to pay greater premiums or risk losing your life insurance.

Since universal life insurance is a less expensive way of achieving lifelong death benefits, we often use universal life insurance in estate planning scenarios or business succession planning.

Pan-American Health and Accident Insurance

Pan-American also offers some unique health and accident insurance products for seniors looking to supplement their Medicare coverage or travelers looking to protect against accidents while traveling abroad.

Pan-American’s Medicare supplement offers supplemental health insurance that fills the gaps in Medicare insurance. Seniors are often surprised to discover that their Medicare coverage does not cover 100 percent of your medical bills in retirement.

A Medicare supplement policy starts where Medicare ends. There are multiple plans that cover varying levels of your out-of-pocket cost. Some plans have lower premiums with co-pays and deductibles, and some plans cover your entire out-of-pocket expenses with higher premiums.

Pan-American’s accident and health insurance plan protects you when you are outside of your country of residence from the “what ifs” in life whether you are living abroad or taking a quick vacation.

Accidents happen. If you find yourself out of the United States needing medical attention due to illness or an accident, your major medical plan may not cover you. By purchasing this supplemental insurance plan, you are protecting your self financially from foreign medical bills.

Pan-American Group Insurance Solutions

Our agency specializes in the individual marketplace for life insurance. Group insurance is a totally different market, but we will touch briefly on it. Group insurance provides life, health, and ancillary insurance products to employees of companies.

Your employer negotiates a group contract that is available to employees of that business. However, group insurance has limitations, especially on the life insurance side. Often if you are healthy, it makes sense to purchase an individual policy.

When you go through an individual life insurance application, the life insurance company often has greater information regarding your health and can offer your higher coverage amounts or better rates as a result.

Since you own the policy as an individual, you do not have to worry about losing your policy if you are separated from your employment. This combination of versatility and cost savings makes the individual market attractive compared to the group life insurance market.

Final Thoughts: Can Pan-American Hang?

Pan-American is a good insurance company, but they fell short of our best life insurance companies list for a few reasons. While Pan-American has a strong balance sheet, they are not always the most competitively priced life insurance company on the market.

While cost is not the only factor, it is a big one. Life insurance is something you need to qualify for and is highly specific to your individual health. We that is why we recommend comparing the rates of multiple life insurance companies with a knowledgable field underwriter.

There are certain conveniences in underwriting that are developing like no-exam term life insurance. While Pan-American’s underwriting is fair, they are not on the cutting edge like the best no-exam life insurance companies.

Thank you for reading our Pan-American Life insurance review. If you considering Pan-American as a company to protect your family, request a quote from our site or give one of our agents a call. They can go over your options before you make a final decision.

FILED UNDER – INSURANCE COMPANY REVIEWS

RESOURCES: PAN-AMERICAN LIFE INSURANCE

Banner Life

When you are reviewing life insurance companies, you want to consider a number of factors. Cost is obviously a concern, but many consumers today want to do business with companies that share their values.

national income life insurance reviews logo

National Income Life Insurance Company is an insurance company that provides supplemental life insurance to members of labor unions, credit unions, and associations. Labor union benefits are often great. However, even the greatest employer benefits can leave a gap.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

National Income Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


National Income Life supports working families by advocating for key issues publically. When you use National Income Life to protect your family, you are supporting a company that defends workers rights, advocates for financial reform, and champions for a fair economy.

National Income Life History

That National Income Life brand was founded in 2000 and is currently headquartered in Syracuse, NY. However, National Income Life’s parent company, American Income Life (AIL), was founded over 50 years ago by Bernard Rapoport with $25,000 of borrowed capital.

Bernard was an American entrepreneur, philanthropist, author, and founder of American Income Life. American Income Life originally sold low-cost hospital insurance plans, but later moved into life insurance.

As the company grew, AIL started to provide supplemental insurance labor union member in revolutionary ways foreign to the industry. For example, AIL waived payments of premiums for its members during authorized labor strikes.

AIL also began to develop a college scholarship program for children of union members and contributed to strike funds of unions engaged in lawful strikes. The company become the only 100% union insurance company, and coined the phrase “Be Union-Buy Union.”

In 1994, American Income life was sold to Torchmark Corporation for $563 million, which was founded in 1900 in Birmingham, Alabama and based in McKinney, Texas. Torchmark is a financial services holding company listed on the New York Stock Exchange.

National Income Life Ratings and Financial Strength

A.M. BestBBB
A+ ( Superior )A+

No matter what great deeds a life insurance company provides its members, they need to have solid financials. National Income Life does not disappoint in the financial strength department.

The A.M. Best Company issued an A+ (Superior) financial strength rating as of July 2018 for National Income Life. A.M. Best is a third-party rating agency that evaluates the likelihood that an insurance company can meet its obligations.

An A+ (Superior) rating is one of the highest marks an insurance company can receive from A.M. Best and indicates that National Income Life is in rock-solid financial shape.

National Income Life Insurance Company is an accredited business of the Better Business Bureau (BBB) since May 1, 2012. The National Income Life Insurance Company BBB rating is an A+, which is the highest rating issued by the BBB.

National Income Life Insurance Solutions

A life insurance company is only as good as the products that it offers its policyholders. While cost is certainly a huge factor, there are other features within a life insurance policy that add value and can justify paying a higher premium under the right circumstances.

National Income Life Term Life Insurance

Life insurance is not about you. Life insurance is something you do to protect the people that you love so they do not suffer financially if your income is not there to support them. Some life insurance needs are only temporary, which makes term insurance a perfect solution.

Term life insurance provides coverage for a limited period of time. While you are working, your income is paying off the mortgage and providing for your children.  Eventually, your kids will be grown and you will own your home. Term life insurance covers you in the meantime.

Term life insurance can be purchased in durations, typically 10, 15, 20, and 30-year policies. During the term period that you select, the life insurance insurance company locks in your monthly rate.

As long as you pay your premium, your rate cannot be increased and your death benefit is guaranteed. If you die while the coverage is active, then the insurance company will pay your beneficiary the death benefit income-tax-free.

If you outlive the term period your selected, the life insurance company can increase your premiums annually. This can become very expensive. Therefore, it is better to either replace that term with a new policy or convert that policy to permanent life insurance if it is eligible.

An individual term life insurance policy is portable as well. If you leave your job for any reason, your policy stays with you with no additional cost. Finally, you can add on a free rider for terminal illness protection.

The terminal illness rider allows you to accelerate 50 percent of the death benefit if you are diagnosed with a terminal illness and have a life expectancy of fewer than 12 months. This is a great benefit if you are in a hospice scenario at the end of your life, which can be costly.

There are companies like Phoenix Life that take living benefits beyond just terminal illness. With living benefits life insurance, you can accelerate the death benefit while you are alive for a chronic illness or critical illness in addition to terminal illness.

National Income Life Whole Life Insurance

Whole life insurance is a form of permanent life insurance.  Whole life insurance is great to cover your final expenses, estate planning, or to leave money to your loved ones.

Once you purchase your whole life insurance policy, your monthly premiums never will increase again for the remainder of your life and your death benefit is guaranteed as long as you pay your monthly bill.

The whole life policy will begin to accumulate cash value within the policy. If you decide to surrender your whole life policy (cancel) then the life insurance company will pay you the surrender value of the policy.

You can also borrow against your policy’s cash value through tax-free loans. These loans are secured by the death benefit so you do not need to qualify financially. If the loan is not repaid, the life insurance company will simply remove the debt from your death benefit proceeds.

Some whole life policies receive non-guaranteed dividends from the life insurance company’s These dividends can be reinvested within the policy to grow the death benefit and cash value, or taken as a return of premium.

National Income Life’s whole life policy also has the optional terminal illness that advances 50 percent of the death benefit if you are diagnosed with a terminal illness and a life expectancy of under 12 months.

National Income Life Supplemental Health Insurance

National Income Life also offers an accident and supplemental health policy. Some jobs can be perilous. If you are in an accident that lands you in intensive care, that can be devastating to both your health and your financial wellbeing.

National Income Life accident protection protects you from the “what ifs” in life. There are no primary/secondary rules. You get the benefits that you signed up for period! National Income Life’s accident policy pays cash benefits for accidental injuries.

The National Income Life accident policy is guaranteed renewable and cannot be canceled as long as premiums are paid on time. This means you can rely on your protection to be there when you need it the most.

National Income Life No-cost Products

National Income Life offers additional products at no cost as added protection for your family. These value-add products are complementary.

The National Income Life No-cost Child Safe Kit stores critical information about your children that you can give to the police if your child goes missing. It will contain a description of your child’s build, their blood type, and fingerprints, as well a photograph.

The National Income Life Safe Surfin Guide helps you identify unsafe online activities and eliminate cyberbullying. It also can record online passwords for your children’s social media accounts. This guide will help you protect your children from the dangers of the internet.

Final Thoughts: Is National Income Life Right for my Family?

National Income Life is certainly a worthy consideration to protect your family. People who are in labor unions cause may find working with Nationa Income Life fulfilling since a portion of your premium dollars is used to fund labor causes and workers rights.

National Income Life has an iron-clad financial rating from A.M. Best and a long history of making good on its commitments to its policyholders. While the product offerings are limited relative to other life insurance companies, the products they have are reliable.

However, we always recommend that you compare the rates of multiple life insurance companies before you make your final decision. Every life insurance company has slightly different rates, features, and underwriting views.

If you have a pre-existing medical condition or want no-exam life insurance a different life insurance company may be a better fit. You can give one of our licensed agents a call or request a quote on our website to discuss your options.

Thank you for reading our National Income Life insurance review. If you have any questions, please contact us or leave a comment.

FILED UNDER – INSURANCE COMPANY REVIEWS

Resources : National Life Insurance

Banner Life

kansan city life insurance logo

In the beginning, many life insurance companies started as regional insurers like Kansas City Life. Even if these regional insurers grow to service the greater United States, their brand may be centered around where they originated.

Our Kansas City Life insurance review will cover the history of Kanas City Life until the present day. We will cover the states that Kansas City life does business in and we will take a hard look at Kanas City Life’s rates to see how they compete with the other life insurance companies.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Kansas City Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


Kansas City Life Insurance History

The Kansas City Life Insurance Company was founded in 1895 in Kansas City, MO under the name, Bankers Life Association by Major William Warner. During this time, Kansas City was known as the Athen’s of the West and its second largest city; only San Francisco was larger.

Shortly after in 1900, the Kansas City Life Insurance Company name was adopted. The company began issuing policies from the Scheidley Building. The company relocated a few times before finally settling in its current location.

Kansas City Life rolled into the 1940s. Kansas City Life began advertising on billboards in the Kansas City area, which help expand the Kansas City Life brand. Kansas City Life celebrated its 50th anniversary in 1945 by introducing the President’s Club.

Kansas City Life expanded in the 1970s when it purchased the Sunset Life Insurance Company of America in 1974. Kansas City continued to grow, and in 1991, Kansas City Life made its second acquisition of Old American Insurance Company.

Kansas City Life celebrated its 100th anniversary in 1995 and commemorated it by adding the Kugel fountain as a tribute and symbol of its service and commitment to its policyholders. Kansas City now proudly boasts it has been keeping its promises for over 100 years.

In the turn of the century, Kansas City Life acquires a number of life insurance companies. Kansas City life purchases GuideOne Life Insurance Company in 2003 and Grange Life Insurance Company in 2018.

Today, Kansas City Life is a publicly traded company that holds over $4 billion in assets. Kansas City Life has general agencies that cover the 48 continental United States and the District of Columbia.

Kansas City Life Ratings and Financial Strength

A.M. BestBBB
AA+

You cannot consider a life insurance company without looking at the books. You need to feel confident that the company has the financial resources to back up the promises that they make.

Kansas City Life has no such problems. Kansas City Life holds an A (Excellent) rating from third-party rating agency The A.M. Best Company. A-rated companies have a strong ability to meet their obligations to policyholders over the long run.

Kansas City Life also holds an A+ with the Better Business Bureau, which is the BBB’s highest honor. Kansas City Life is not an accredited company with the Better Business Bureau, however.

Kansas City Life Insurance Solutions

When it comes to life insurance, choosing the right product can be confusing. Kansas City Life offers a wide selection of insurance products and solutions for its policyholders through its agents.

Kansas City Life offers term life, universal life, and whole life. Kansas City also provides annuities, which provide pension-like income streams to its policyholders. Our Kansas City Life review will focus more on the life insurance products, but will briefly cover the annuity options.

Kansas City Term Life Insurance

Kansas City Life offers term life insurance as a temporary life insurance option. Term life insurance is initially lower than permanent coverage, which allows you to purchase higher levels of death benefit protection economically.

Term life insurance is a great option for a person who needs a significant amount of life insurance coverage for a temporary need. For example, covering your mortgage if you die.

Most term life insurance sold today is level term, which means that you select a period of time that your life insurance premiums are locked in and cannot be increased. After your level term period is over, you can continue the policy by paying annually.

Many people do not continue to keep their life insurance past the level term period because it can be costly. Instead, some people opt to replace the coverage or convert the term policy into a permanent life insurance policy.

The life insurance death benefit is paid out income-tax free, but term life insurance does not have any cash surrender value. It is a pure insurance product. Kansas City still offers a rare life insurance contract known as Return of Premium Life Insurance.

Return of Premium life has level premiums as level term does. However, at the end of the level term period, you receive 100 percent of eligible premiums paid if you survive the contract. This ensures that you do not “waste” your money if you do not die and trigger the death benefit.

Return of Premium life used to be more attractive. However, regulations overtime increased the cost of these types of policies. As a result, most people either opt for straight term life insurance or a permanent solution.

Kansas City Universal Life Insurance

Kansas City universal life insurance gives you flexibility in your life insurance. Universal life insurance grants you the potential for tax-deferred cash value accumulation and permanent death benefits.

Your premiums can be adjusted upwards, downwards, or entirely eliminated. However, you need to ensure that your policy is funded enough to cover its expenses. Therefore, it is wise to monitor these policies frequently.

A portion of the premium is deposited into an interest-bearing account that has a fluctuation interest rate with a guaranteed minimum level of interest. The money grows tax-deferred and can be removed from the account through tax-free loans or withdrawals.

You can also increase or decrease the amount of your coverage at any time without buying a new policy; although, you may be asked to provide proof of insurability.

Kansas City Index Universal Life

Kansas City Index Universal Life is a particular type of universal life insurance that credits interest to your account through an index investment strategy. Indexed universal life has all of the flexibility of current assumption universal life with the potential for greater cash growth.

When you pay your indexed universal life premium that premium goes into a fixed account where the policy expenses are deducted. The remainder has the potential to build cash value through indexing.

Indexing does not invest your principal directly in the stock or bond market. Instead, it tracks the growth of a specific index, for example, the Standard and Poor’s 500. If the market goes up you get credited with interest up to the cap.

However, if the market declines, you cannot lose any money due to investment loss. Your account would not get credited with interest in a down year, and you still need to pay the insurance expenses of the policy.

Your cash value will grow tax-deferred, and you can remove cash from the policy through tax-advantaged loans or withdrawals. The death benefit is paid out income-tax-free as well.

Kansas City Variable Universal Life

Kansas City Life also offers variable universal life insurance, which is a unique offering. Variable universal life insurance is similar to other types of universal life insurance in that it offers the same flexibility.

However, Kansas City life allows you to select professionally managed separate account to invest your policies cash value in. Unlike indexed universal life insurance, variable universal life insurance is directly invested in the underlying investments that the account manager selects.

This means that you are putting your principal at risk and can suffer investment loss. If the policy does not perform as expected, you could potentially lose your life insurance coverage as well.  As a result, you should monitor the performance of your policy frequently.

The variable separate accounts grow your cash value deferred of taxation. If you want to remove money from the policy you can take tax-advantaged withdrawals or loans against the death benefit.

Kansas City Whole Life

Kansas City Whole Life Insurance is the original type of life insurance and offers the most robust guarantees of Kansas City Life’s lineup. Whole life gives you guaranteed cash value accumulation, guaranteed lifetime death benefits, and guaranteed level premiums.

Once you lock in your monthly rate, it is locked in for the life of the policy. That means the life insurance company cannot raise your rate on you in the future. As long as you maintain your premiums, your death benefit is guaranteed as well.

Your cash value will grow tax-deferred. You can access the cash value through tax-advantaged loans, which are secured by the death benefit. If you do not pay back the loan before you die, the balance will be subtracted from the death benefit proceeds.

If you are considering whole life insurance, we would suggest looking at a company that specializes in participating whole life insurance that has the opportunity to receive dividends at the end of the year, like Foresters Financial.

Kansas City Life Annuities

Kansas City Life offers fixed annuities and variable annuities for its policyholders as well. You may consider an annuity if you are seeking a long-term investment that has the ability to provide guaranteed lifetime income.

A fixed annuity guarantees you a minimum level of interest. However, Kansas City Life can and often will credit you with a higher rate based on market conditions. You can make a lump-sum deposit or on-going payments.

Key Benefits of a Kansas City Fixed Annuity:

  • Safety
  • Tax-deferred growth
  • Competitive interest rates

If you decide to turn your annuity into an income stream, there are a variety of payout options that can be selected ranging from period certain to lifetime income.  The annuity also comes with various death benefit options.

Before you turn the annuity into income, your beneficiary can receive the proceeds of the annuity in a number of ways. Once the guaranteed income option is selected, you need to decide on a specific death benefit option or no death benefit option if you prefer.

Kansas City Life also offers a variable annuity which allows you to invest your cash in a professionally managed separate account in stocks and bonds. Unlike a fixed annuity, your principal is at risk for investment loss.

Therefore, you should carefully consider if a variable annuity meets your risk tolerance. Variable annuities also offer a variety of payout options, similar to the fixed annuity, that can be chosen when you are ready to receive your income.

The Kansas City Life variable annuity has a death benefit and many optional riders including a guaranteed minimum withdrawal benefit rider.

Final Thoughts: Is Kansas City Life Worth It?

Kansas City Life is a fine life insurance company, but they did not make our best life insurance companies list. Kansas City Life has competitive rates, but they are not always the rock-bottom lowest rate.

We always recommend comparing the rates of multiple life insurance companies especially if you have a pre-existing health condition. If you are considering no-exam life insurance options, then we would suggest looking at other options.

If you have any questions about our Kansas City Life Review, please contact us via our phone number or a request a quote today. We can review your life insurance situation and compare the quotes of multiple A-rated companies.

FILED UNDER – INSURANCE COMPANY REVIEWS

RESOURCES – BBBKANSAN LIFE INSURANCE

Banner Life

Columbian Mutual Life Insurance Review Logo

Columbian Mutual Life Insurance is one of the hundreds of life insurance companies operating in the United States. Sorting through all the companies can be difficult, but that is what we do. We review life insurance companies to take that work off your plate.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Columbian Mutual Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


When evaluating a life insurance company, you need to consider more than just rates. You want a company that is reliable and has a proven track record of making good on its promises. The company needs to be worthy of your trust.

The Columbian Mutual Life Insurance Company has been servicing its policyholders for over 135 years. In our Columbian Mutual Life Insurance Review, we will discuss all the pros and cons of using Columbian Mutual to protect your life.

Shall we begin?

Columbian Mutual Life Insurance Company History

The Columbian Financial Group includes the parent company, Columbian Mutual Life Insurance Company, along with Columbian Life Insurance Company has been established for over 137 years of service.

Columbian Mutual Life Insurance Company was founded in 1882 in Brooklyn, New York as the American Protective Association. In 1907, the name changed to the Columbian Protective Association, and the home office moved to Binghampton, New York.

In 1952, Columbian Protective Mutualized, which means the policyholders own the insurance company, not stockholder, and the company was subsequently renamed Columbian Mutual Life.

Columbian Mutual Life grew rapidly and between 1970 to 1990 expanded its services to all 50 United States! From 1990 to 1996 Columbian Mutual adds a wholly owned stock life insurance company when they acquired Washington National Life Insurance Company of New York.

From the mid-nineties and on, Columbian Mutual Life continues to expand through mergers and acquisitions. In 2007, Columbian Mutual celebrated its 125th year in business and doubled its size by merging with Farmers and Traders Life Insurance Company.

After the merger, the Combined organization had an excess of $1 billion and a strong surplus position that exceeded $70 million. Afterward, Columbia Mutual Life continued to acquire the Mutual of Detroit and merged with Unity Mutual Life Insurance Company.

The merger of Columbia Mutual Life and Unity Mutual Life created a combined organization of $1.4 billion in assets and over $100 million in capital and surplus. As of the writing of this article, the combined assets of Columbian Financial Group are in excess of $1.64 billion.

Columbian Mutual Life Ratings and Financial Strength

A.M. BestBBB
B++A+

Columbian Mutual Life does not display any ratings from third-party rating agencies on its website from what we can see.  After doing some digging, we think we know why.

It seemed that in 2015, A.M. Best downgraded the ratings of the Columbian Financial Group to B++ (Good) from A-.  This downgrade would knock Columbian Mutual Life out of investment grade; although, they are knocking at the door. Still, a downgrade is a downgrade.

The reason for the downgrade was Columbian Financial Group’s declining level of capital and fluctuation operating performance that is inconsistent with a-rated peers. A.M. Best also noted that Columbian Financial Group has taken measures to mitigate the decline.

A.M. Best also stated that even though Columbian Financial Group’s capital has declined, the group still remains adequately capitalized for its current business and investment risks.

Columbian Mutual Life is not an accredited business of the Better Business Bureau (BBB).  However, they do have an open file with the BBB, and resolve any customer disputes promptly. The BBB gave Columbian Mutual Life a rating of A+.

Columbian Mutual Life Insurance Solutions

Columbian Mutual Life offers a wide selection of life insurance products for various needs and ages. Columbian Mutual Life is structured as a Mutual Company.

Mutual life insurance companies tend to focus on participating whole life products. Columbian Mutual Life also offers term, universal life, and final expense products.

Columbian Mutual Term Life Insurance

Columbian Mutual Life offers two term life insurance options. The first is a simplified issue term product that can be purchased without a medical exam. The second is traditional fully-underwritten term insurance.

TermLife Simplified Issue Term Features:

  • No medical exam
  • Living benefits rider for critical, chronic, and terminal illness
  • Plus option returns 50% of base premiums after the term

Columbian Mutual Life offers an express issue product. However, it did not make our list of best no exam life insurance companies. We were surprised that Columbia Mutual Life did not add a 10-year term option.

Additionally, the plus option is nice, but we are curious about why they only refund 50 percent of premiums paid. We feel if you are going to offer a return of premium option, you might as well go all the way.

You can also purchase your standard optional riders with the TermLife Simplified Issue Term. You can buy an accidental death rider, children’s term rider, and waiver of premium disability rider as optional add ons.

TermLife Optional Rider Features:

  • Accidental Death Rider – pays an additional death benefit if the cause of death is the result of an accident.
  • Children’s Insurance Rider – provides level term insurance on all eligible children until the child’s age 25
  • Waiver of Premium (Disability Rider) – waives premiums for six months of total and continuous disability

Columbia Mutual Life also has a fully-underwritten option available in 10,15, or 20-year term periods, but we don’t like this product. The premiums are guaranteed to remain level for 10 years and expected to remain level after.

There are so many affordable term options available today that guarantee level premiums. Quite frankly, there is no reason to mess around with anything that does not. You do not want to be sick and have your life insurance premiums increase, and you cannot afford them.

Columbian Mutual Life Whole Life

Whole life is the bread and butter of mutual life insurance companies. Columbian Mutual Life has participating whole life policies as well as non-participating final expense policies for their policyholders.

A participating policy is eligible to receive a dividend from the companies profits. That dividend receives favorable tax treatment if it is reinvested in the policy as a paid-up addition. Paid-up additions increase the cash value and death benefits of the policy over time.

Whole life offers the most robust guarantees of any life insurance policy. You’ll get guaranteed cash value accumulation, your premiums are guaranteed to remain level for the rest of your life, and the death benefit is permanent.

You can remove money from the policy through tax-advantaged loans. The loan is secured by the death benefit. You do not have to pay it back, but if you do not, then it is subtracted from your death benefit when you die.

Columbian Mutual Life also offers various types of senior life insurance options. Columbian Mutual Life offers final expense, pre-need, and guaranteed issue whole life insurance to cover their policyholder’s final expense.

A final expense policy is a small whole life policy that usually has simplified underwriting and is not eligible for dividend payments. The death benefit proceeds can be used to pay your burial, funeral, and other remaining debts and obligations.

Pre-need is similar to final expense insurance but differs slightly. With a pre-need policy, the funeral parlor will guarantee the price of the goods and services they provide at the time of the contract. The insurance company pays the death benefits to the funeral parlor when you die.

If you cannot qualify medically for the pre-need or final expenses plan, Columbia Mutual Life has a guaranteed issue life insurance plan. This plan has no health questions. Anyone can purchase it.

Instead of medical underwriting, the guaranteed issue life insurance plan has a modified death benefit in the first 3 years of the policy. During the modified death benefit period, you receive a return of premiums plus 6 percent interest if you die of a medically-related death.

Accidental deaths pay the full death benefit in any year. After the third year, the full death benefit pays regardless of the cause of death.

Columbian Mutual Life Universal Life Insurance

Columbian Mutual Life offers a universal life insurance policy that provides flexibility with limited guarantees and a lifelong death benefit. Universal life has lower premiums compared to whole life but still can accumulate cash over the long-term.

Columbian allows you to select your premium during the policy. As long as they are within the legal limits of life insurance, you can pay more, pay less, or pay nothing at all. However, you need to fund the policy sufficiently if you want the coverage to last.

After the policy is issued, you can adjust the death benefit. You can increase or decrease the face amount as your needs change; although, proof of insurability may be requested on increases.

The money within the policy grows at a fixed interest rate. The policy will have a minimum interest rate guaranteed by the insurance company, but the actual rate is likely higher. Since the rate does change, it is wise to review the policy often to make sure it is funded adequately.

Your cash value grows tax-deferred. If you need the money in the policy, you can access it through tax-free withdrawals or loans. If you have a loan on the policy, your death benefit will be lowered as collateral.

Final Thoughts: Is Columbian Mutual Life Worth Consideration?

Columbian Mutual Life has been around for a long time. While a B rating from A.M. Best is not investment grade, there does not appear to be an immediate threat of Columbian Mutual Life defaulting on their policies.

That being said, with all of the great life insurance companies on the market today, there is no reason to take a chance. Columbian Mutual Life has some interesting products, but nothing that we have not seen before.

We suggest that you compare not only the rates of multiple life insurance companies but their financials, customer service, product features before making your final call. You can request a rate comparison through our site or give one of our agents a call today to assist you.

Thank you for reading our Columbian Mutual Life Insurance Review. If you have any questions, please contact us.

FILED UNDER – INSURANCE COMPANY REVIEWS

RESOURCES – BUSINESSWIRECOLUMBIAN MUTUAL

Banner Life

It’s not uncommon for men to hesitate about purchasing life insurance after battling a health condition. Especially if it’s a more serious condition such as testicular cancer. Life insurance for cancer patients can always be scary and we get that.

The sad truth is that obtaining life insurance after testicular cancer may be achievable.

life insurance after testicular cancer

Life insurance after testicular cancer is more achievable than you may believe. The question we hear from individuals frequently is entirely straightforward. Can I be approved for life insurance after testicular cancer? As an agent and agency owner who specializes in high-risk life insurance, here is what I can tell you on this topic.

So, can I be approved for life insurance after testicular cancer? Yes, you can be approved for life insurance after testicular cancer. To be approved for life insurance after testicular cancer, you will need to be in remission, and the prognosis will need to be positive. Additionally, the life insurance company will want to verify your progress and current cancer status with your primary cancer doctor.

This is the black and white answer that’s necessary to explain if you plan to apply for life insurance with testicular cancer. A few more pieces of information, and a few more steps will be involved in the process before you are entirely out of the woods.

This post is designed to break that down for you step by step. I want to illustrate the process and advise everyone shopping currently with testicular cancer or after defeating the testicular process of the steps and necessary things you can do to prepare adequately for what’s to come soon.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

You can do this easily by using our rate engine directly below.


The Process of Getting Approved for Life Insurance After Testicular Cancer

Getting approved with any form of cancer can always be a more involved process.

One of the most important things to understand is that testicular cancer is much less prevalent than individuals may believe. A saddening statistic is that it’s often diagnosed in men as early as their mid-30’s.

In 2019, The American Cancer Society stated that only 9560 new cases of testicular cancer will be diagnosed in which 410 of those will result in death. It’s so uncommon that only 1 out of every 250 males will develop testicular cancer at some point in their lifetime.

Currently, the average age of diagnosis is 33 years old. The big positive that life insurance consumers are often clueless about is the statistics the life insurance companies are primarily concerned with. Only 1 in 5000 individuals currently face terminal testicular cancer, and the treatments are very useful.

The life insurance companies are aware of this. If you have your ducks in a row and can go through the process efficiently and with the correct information ready to go, you can certainly be approved for life insurance with testicular cancer.

The first thing the life insurance companies are going to look at comes down to the stage of testicular cancer and when it was diagnosed. Let’s look at where your testicular cancer is commonly classified and how it may impact your abilities to obtain life insurance.

The Stages of Testicular Cancer with Life Insurance, The TNM System

  • TIS
  • T1
  • T2
  • T3
  • T4

These are the possible classifications that your testicular cancer will fall into. T4 would be considered the worst possible scenario where the cancer is diagnosed as a large tumor, and cancer has also spread to the other areas and surrounding tissues outside of the testical.

T1 would be known as only having cancer present in one of your testicals. TIS would be the diagnosis when cancer has not even formulated in the testical but the cancer cells have been indicated and are showing the possibility of presenting soon within the testicals.

Up next, you will need to worry about the nodes which can be broken down into 4 categories.

Nodes and How They Impact Testicular Cancer and Life Insurance

With almost all cancers, lymph nodes are a big part of the equation. Testicular cancer is no different in this respect. Like I stated previously, you have 4 significant classifications that your testicular cancer may fall into.

Here’s a quick break down of the node classifications you may experience with testicular cancer.

  • N0- Cancer Cells Have Not Begun to Spread
  • N1- Cancer Cells Have Signs of Progress and Have Moved Away from The Testes
  • N2- Cancer Cells Have Moved to Other Major Organs

It’s easy to see which of these few classifications would raise more red flags to the life insurance company compared to other classifications. In all reality, while this is the most critical data the life insurance company will ultimately want, it’s also crucial that you understand a few other things.

A Broad Overview When Applying for Life Insurance with Testicular Cancer

So, we touched on a few of the big categories of how testicular cancer can be classified when applying for life insurance. Of course, you have a few other factors that will be considered as well, such as the following.

  • Metastasis Classifications
  • S Stage or No S Stage
  • Other General Health Information

Uh oh, I know what you’re thinking. Josh, they are going to look at my general health in addition to my cancer. Of course, they are going to look at your general health in addition to your health. Let’s take the time to relieve some of that anxiety now and break down what they are looking for exactly.

General Health Overview When Applying for Life Insurance with Testicular Cancer

Alright, so now we move into the part of the life insurance application process that everyone must encounter no matter what their health situation may be. This is the general health part of the application that the life insurance companies want to know before moving forward.

This is ultimately part of the process that’s going to determine if you can be approved for coverage and if you can it’s going to help determine what price you will ultimately pay for your coverage. Here’s a look at some of the questions that you can expect during this part of the process.

  • Do you currently use any tobacco products?
  • Do you have any family history of heart attack, stroke, or cancer?
  • What’s your current height and weight?
  • Do you take any medications?
  • Do you have any hospitalizations in the past 5 years?

These are the big bulk questions, but the life insurance company will have other little questions that they will ask, such as foreign travel, history of bankruptcies, and criminal record is also part of the equation.

Depending on your answers during this part of the process ultimately makes or breaks your total chances of being approved. However, what you need to realize is that companies are always available when you opt to use an independent life insurance agent and independent life insurance agency.

Only Use an Independent Life Insurance Agency When Applying for Life Insurance After Testicular Cancer

What I was referring to previously is that using an agent who has access to an extensive list of companies to choose from. This ultimately gives you the best chance of being approved for life insurance after testicular cancer.

Also, if you are declined, it gives you further options to choose from. Options such as leaning on a top no medical question asked policy such as the one offered by AIG Life Insurance Company.

Options like this are always huge to have as a backup and ultimately allows you to take care of your family in a time of need and financial protection.

Chances of Being Approved for Coverage After Testicular Cancer

Your chances of being approved for coverage after having testicular cancer can, of course vary. It’s going to depend on your general health as well as your current condition with your testicular cancer.

However, let’s assume a few scenarios. Let’s assume that you have a strong prognosis and everything else looks good. Unfortunately, the best-case scenario is still likely going to be a sub-standard rating. This alone is nothing to fret over. We can undoubtedly get you approved for coverage.

All this means is that you are likely to pay a few extra dollars per month for your coverage. Protecting your family is always still the most essential factor to consider when shopping life insurance. If you potentially had a stage 2 or 3 situations, you may have to wait before applying for traditional coverage.

Again, no big deal and we are indeed to help if that’s the case.

All You Need to Do Is Get Started

Getting started is the most important thing to do when shopping for life insurance regardless of if you had testicular cancer or not. Simply begin by filling out the instant quote form on the page to begin comparing rates between the top life insurance companies that we all know and trust.

At the end of the day, we are always confident we can find you coverage regardless of the situation. You just must try and get the process started.

FILED UNDER – CANCER LIFE INSURANCE

Resources: Health24

Banner Life

Obtaining life insurance after going through a battle with any health condition can be a struggle. While it may always be possible to get coverage, it doesn’t necessarily mean that consumers feel comfortable going through the process if they have a lingering health condition.

life insurance with kidney disease

Often consumers have questions about eligibility about specific health conditions. One of those health conditions happens to be kidney disease. Can you get life insurance after kidney disease? With years in the industry and specializing in high-risk life insurance, here is what I can tell you on this topic.

So, can you get life insurance after kidney disease? Yes, you can obtain life insurance with kidney disease. Kidney disease can’t be classified as kidney failure to be approved for traditional term life insurance. Additionally, the life insurance company will verify other health factors before approving your life insurance application.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

You can do this easily by using our rate engine directly below.


While this is straightforward, it may also be somewhat confusing. I wanted to take the time in this post here today to go over how a life insurance application will look after kidney disease and what steps you can anticipate taking during the process. Let’s start diving into those details now.

Life Insurance After Kidney Disease and Why It’s Relevant to The Life Insurance Company

First and most importantly, it’s essential to understand why the life insurance company is going to be digging into certain private information about your health and current medical history.

You see, life insurance companies function correctly by using mortality tables to determine your eligibility and the overall rates you will be expected to pay for your coverage. They have compiled data over the years that give them statistics on how certain health conditions often play out.

With kidney disease, you have entirely different outcomes compared to even other kidney related issues such as kidney cancer or also your overall likelihood of being approved for coverage after a kidney transplant.

For example, kidney disease is currently the number 9 leading cause of death in the United States, according to kidneyfund.org.

Kidney disease is also more common among women, and within this demographic, kidney disease is more likely to end up turning into full kidney failure in women. Nearly a 50% additional likelihood compared to men.

This isn’t mean to alarm you. It’s meant to simply point out that this is the kind of information the life insurance company is aware of and what they look at when determining your overall eligibility for coverage. This and your overall health condition and other circumstances, of course.

Speaking of that, let’s dive into those details and discuss what the application process will look like when you apply for life insurance with kidney disease or following kidney disease.

Applying for Life Insurance with Kidney Disease and What to Expect

Applying for life insurance with kidney disease is no different than applying for life insurance with other health conditions or no health conditions at all. Sure, there may be various items the life insurance company needs from you, but overall, the process looks very similar.

We always advise you to begin by applying for life insurance with an independent life insurance agent. The reason for this is simple. Independent life insurance agents can provide you with options and access to over 50 companies as opposed to just one company.

An example of this would be a situation where you apply with a captive life insurance company such as Allstate, USAA, or even State Farm. When you make this mistake, you are likely to be declined for coverage, and if you are not declined, you are cornered into only using 1 option for your coverage.

This can leave you paying more for your coverage or not gaining any life insurance coverage at all, which can be devastating to your family if something does ultimately happen to you. It’s a mistake we see with way too much frequency at Good Life Protection. Seriously, it happens all the time.

The good news? We are giving you this warning ahead of time. We have no benefit of providing you this information except to help you ultimately gain life insurance coverage for the lowest price. Can you use us to get rates for your life insurance? Sure, and we hope you do.

However, that’s not a requirement, and the only thing we urge is to search with an independent agent or agency to get the job done.

The Next Steps When Applying for Life Insurance with Kidney Disease

After you have taken the steps and found yourself an independent life insurance agent, it’s time to go through the process. In most circumstances, you will likely need to be looking at fully underwritten term life insurance if you are applying for life insurance with kidney disease.

This is due to the company is going to need to order attending physician statements from your Doctor’s office, and the process is more built for individuals with severe health conditions. This is of course, unless you prefer to apply for a no questions asked life insurance policy such as the AIG Guaranteed Issue Life insurance product with American General Life Insurance Company.

We will touch on that option a bit later in the post. Next, you will want to ensure that you have all your health information in order and be as accurate and honest with your life insurance agent as possible.

This will include items such as the following list below but not limited to the following list.

Again, plenty more questions may be asked during the application process, but you can absolutely guarantee that items will be asked. Depending on your overall health and the answers to some of these questions will determine your total eligibility for coverage.

Approval Chances for Life Insurance After Kidney Disease

Like I stated previously, the answers to the previous questions will determine your overall chances of being approved for your life insurance coverage. It’s also going to depend on which variation of kidney disease you currently have. Here’s a breakdown of which classification you may fall into.

  • Abderhalden-Kaufmann
  • Ovarian Hyperstimulation Syndrome
  • Glomerulopathy
  • Papillary Necrosis

  • Hepatitis C
  • Acute Lobar Nephrenia
  • Acute Kidney Failure

Each of these has different outcomes on your approval chances for life insurance. Additionally, it matters if you had other issues that may have caused your kidney disease. Some known risk factors and causes for kidney disease can include but not be limited to the following matters.

Once the life insurance company has all this information in front of them, they can begin seeing the entire picture, and you are getting closer to your outcome on your life insurance application.

If you have no lasting effects from the kidney disease, you can likely be approved for coverage but at sub-standard life insurance rates.

This isn’t necessarily a bad thing by any means. It merely means that you still gain coverage for you and your family, but you may pay a higher premium per month compared to someone who is perfectly healthy.

If, however, your kidney disease is the result of another health condition we have discussed in this article, and you do have ongoing impacts from the kidney disease, you will likely be declined for life insurance coverage.

This means you may need to apply for guaranteed issue life insurance or accidental death life insurance like we discussed for a moment previously in this post.

Guaranteed Issue Life Insurance and Accidental Death Is Always Better Than Nothing

Something that’s always overlooked is that guaranteed issue products are still consistently better than having no coverage at all. Sure, they have a 24-month waiting period, but if you have a stable outlook, this shouldn’t be a huge deal.

During this time period, you also get afforded full death benefits if you pass away from accidental death and earn 10% interest in addition to your premiums.

Virtually, you can’t lose using a policy like this, and if it’s the only thing you can be approved for, it’s undoubtedly better than leaving your family with nothing if something does happen to you. That’s for sure.

What Should You Do Next Applying for Life Insurance with Kidney Disease?

If you haven’t gone through this process before, we highly recommend using an independent life insurance agent as we discussed previously in this post. Explore all your options and make your agent go work for you shopping your case between various life insurance providers.

Eventually, we can always find something that works for everyone and will always do everything we can to ensure you are approved for life insurance coverage at the cheapest possible rate. All you must do is trust the process and be willing to get a few documents together and give it a try.

Final Word, Kidney Disease Is Not an Excuse to Ignore Life Insurance. It’s the Reason to Apply Today

At the end of the day, people often have this situation entirely backward. When you are diagnosed with a health condition, this isn’t the time to ignore life insurance coverage. This is the time you need it the most, and more importantly, your family needs it the most.

Don’t let health conditions be the reason you ignore the needed protection for you and your family. Make it be the reason you do something about it and get this item taken care of as soon as possible.

FILED UNDER – HIGH RISK LIFE INSURANCE FOR KIDNEY

Banner Life

Midland National Life Insurance reviews Logo

Midland National Life Insurance Company is one of the many historic life insurance companies in the United States.  Midland National Life offers term life insurance, universal life insurance, and annuities.

Our Midland National Life insurance review will cover their life insurance. We’ll discuss Midland’s products, financial ratings, and other subsidiary companies that Midland is associated with.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Midland National Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


Let’s get started!

About the Midland National Life Insurance Company

Midland National Life Insurance Company was founded in 1906 under the name of Dakota Mutual Life Insurance Company. Midland National Life has been serving its policyholders for over 100 years!

Midland National Life experienced consistent growth throughout the 1900s. Midland National was able to navigate past things like the World Wars and the Great Depression. In 1925, the company changed its name to Midland National Life Insurance Company.

Midland National Life is a privately owned company. Midland National is a member of Sammons Financial Group, Inc. Sammons Financial Group also owns the North American Company for Life and Health Insurance.

Midland National Life is committed to providing affordable life insurance and annuity products by keeping their costs low, having a long-term focus, and maintaining a high-quality investment portfolio.

Midland National Life Ratings and Financial Strength

Reviewing life insurance companies ratings usually involves a glance at overall assets as well as financial strength ratings.

A promise is only as good as the company making it. Midland National Life has a long and proud history of keeping the promises that they make since 1906.

Midland National Life Stats*:

  • More than $1 million life insurance and annuity policies held
  • More than $56.5 billion in assets
  • 96% of bond investments are investment grade
  • $156 billion life insurance in force

*Stats as of Dec. 31, 2017

 Midland National Life holds some of the highest ratings from independent third-party rating agencies such as the A.M Best Company.  A.M. Best rates Midland National Life as an A+ (Superior), which is one of their highest ratings.

Standard and Poor’s and Fitch also rates Midland National Life with an A+ (Strong) rating. An A+ rating from S&P and Fitch is considered to be investment grade and indicates a high level of financial strength.

Midland National Life has been accredited by the Better Business Bureau (BBB) since January 30, 2017. As of the writing of this article, Midland National Life Insurance Company has a BBB Rating of A+, which is the highest award.

Midland National Life Insurance Solutions

Midland National Life has various types of life insurance and annuity solutions for their policyholders depending on your needs. Midland National Life insurance is similar to the products offered at North American Life Insurance company; although, not always identical.

Midland National Life Term Life Insurance

Midland National term life insurance is an excellent choice to protect your family if you die prematurely. It is straightforward protection that is easy to understand. You die, and the insurance company writes a check.

Term life insurance is temporary. You purchase it for a certain amount of years, for example, a 20-year term duration. Therefore, it is best used for temporary needs like mortgage protection or income replacement.

Once you select a term period, the life insurance company locks in your rate for whatever term period you select. After your term is up, the life insurance company can raise the rate on you, which is why most people either replace or convert the policy.

Midland National Life also includes living benefits on some of their term life insurance policies that allow you to advanced a portion of the death benefit if you are diagnosed with a serious illness.

Midland National’s underwriting is tight but fair. Midland National has an accelerated underwriting program simliar to North American’s program. However, they do not offer a true no-exam life insurance option like Sagicor Life.

Midland National Life Universal Life Insurance

Midland National Life insurance offers universal life insurance (UL), guaranteed universal life insurance (GUL) and indexed universal life insurance (IUL). All three life insurance policies have lifelong death benefits with some key differences.

Midland National Universal Life Insurance provides lifetime death benefit protection combined with the potential for cash value accumulation. A portion of your premium is deposited in a savings account and credited a declared fixed interest rate annually.

This interest rate fluctuates based on market conditions, and your cash value grows tax-deferred within the policy. If you need to access your cash value, you can remove money from the policy through tax-free withdrawals or loans.

If you do not repay your loans while you are alive, then the life insurance company will pay the loan from your death benefit when you die.

Universal life insurance does not come with a lifetime guaranteed like GUL or whole life insurance. Since the policy’s long-term health is dependent on the interest rates, you should monitor the policy frequently to make sure it is funded fully.

Midland National Guaranteed Universal Insurance similar to term life insurance in that its main focus is on death benefit protection. The main difference is that term life insurance is temporary, where GUL is meant to cover your entire life.

With GUL, your premium is locked in for the duration of the policy.  As long as you pay the required guaranteed premium, the life insurance company has to pay your death benefit to your loved ones when you die.

GUL has little or no cash value whatsoever. However, if you only want guaranteed death benefit and do not care about cash value, GUL is your most cost-effective option. Due to the economical premiums, GUL is often useful in death-benefit-focused estate planning situations.

Midland National Indexed Universal Life gives you lifetime death benefit protection but also provides potential long-term cash value accumulation through indexing strategies that credit your cash value interest based on the movement of a stock market index.

While your interest credit is dependent on the upward movement of the stock market, your principal is not directly invested in the stock market. As a result, if the stock market goes down, your principal will not lose any money due to investment losses.

However, downside protection has a cost. Your upside is capped at a certain amount, unlike investing in the stock market directly.

Your cash value grows tax-deferred. You can always remove money from the policy through tax-free loans and withdrawals. Additionally, you can accelerate your death benefits due to a qualifying serious illness.

Midland National no longer offers variable universal life insurance. If you own a variable life insurance policy from Midland National Life, you can still see old prospectuses on the Midland National website.

***Critical Update***

Midland National Annuities

Midland National also offers annuities, which are a form of longevity insurance. Life insurance pays out when you die. Annuities pay while you are alive! Life insurance is our niche, but we will touch briefly on Midland Annuities for those interested.

Midland National Life offers the following annuity options:

  • Multi-year guaranteed annuities (MYGAs)
  • Single premium immediate annuities (SPIAs)
  • Fixed index annuities (FIAs)

Midland National MYGAs are like the Certificate of Deposit (CD) of the insurance world. You receive a guaranteed interest rate in exchange for locking up your money for an agreed upon period of time.

The longer you commit your money, the higher the interest rate the life insurance company will offer to pay you. Your money grows tax-deferred, and at the end of the MYGA, you can access the money or transfer it into a new annuity.

Midland National SPIAs are the original annuity. You pay the life insurance company a lump-sum of money, and they agree to pay you an income stream often for life.

This structure allows you to maximize your guaranteed income. However, the exchange is irreversible. Once you make the trade, you cannot access the principal amount. You can request a return of premium death benefit though if you die before your payment is completely returned.

Midland National FIAs

Fixed index annuities have grown in popularity in recent years because they offer clients a way of having lifetime guaranteed income with access to their principal. Unlike SPIAs, you do not need to annuitize the contract to get a pension-like income stream.

Final Thoughts: Is Midland National Life Legit?

Thank you for reading your Midland National Life insurance review. Midland National is a legit life insurance company.

They have been in business for over 100 years, and their financial strength is rock-solid.  However, they might not be the best company for you.

Midland National did not make our list of best life insurance companies because they do not stand out in our opinion. If you have a pre-existing health condition or want no-exam life insurance, we’d look at other options.

Regardless, if you are looking for life insurance, we usually suggest comparing the rates of multiple life insurance companies. Life insurance carriers have different views on rates and underwriting.

A life insurance broker can help you narrow down the companies that will give you a great deal. A broker who is good at field underwriting can potentially save you thousands on your life insurance.

If you are considering Midland National or looking for life insurance, please request a quote or give us a call. We can take a look at your quote and give you our honest opinion one way or the other.

FILED UNDER – INSURANCE COMPANY REVIEWS

RESOURCES – MIDLAND NATIONAL

Banner Life

American-Amicable life insurance review logo

The life insurance industry has a ton of well-known insurance companies that can trace their roots back to the early 1900s. American Amicable is one of those historic companies that specialize in niche insurance products.

One of American Amicable’s life insurance innovations is with no-exam life insurance.

Our American Amicable life insurance review will take a deep dive into their life insurance coverage to determine if they can compete with the giants in the industry.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

American-Amicable Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.


Otherwise, let’s get moving on our American Amicable Life Insurance review.

Here is what you need to know.

American Amicable Life Insurance Reviews

The American-Amicable life insurance company can trace its founding back to 1910 in Waco, Texas.

In 1965, Amicable Life Insurance Company and American Life Insurance Company merged to become the American-Amicable Life Insurance Company.

After the mergers, the new company moved into the now historic landmark ALICO building in Waco, Texas. ALICO’s building survived a tornado and is considered a company symbol of pride and strength.

American-Amicable continued to grow until it was acquired in 2010.

American-Amicable Life Insurance Company of Texas was acquired by Industrial Alliance Insurance and Financial Services, Inc. in 2010.

Even though American-Amicable is owned now by a Canadian company, it still holds true to the core values that made it the success it is today.

The Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that was founded in 1892.

The company has operations over North America. The Industrial Alliance employs over 5,000 people and manages and administers over $109.5 billion in assets.

American-Amicable Life Insurance Ratings and Financial Strength

A.M. BestBBB
A (Excellent)A+

The life insurance industry is an industry that only survives due to the trust and goodwill that has been built up in the industry over the years. When the time comes to write the check, you want to be with a life insurance company that has the financial means to pay.

The American-Amicable life insurance company has solid financials.

The A.M. Best company is a third-party rating agency that evaluates the financial strength of life insurance companies.

A.M. Best rates American-Amicable with an A (Excellent) rating, which is one of their top marks.

This indicates that American-Amicable should have the financial resources available to pay your claim when and if that day comes.

American-Amicable has an investment portfolio consisting of investment grade bonds, diversified mortgage loans, and the common stock of large companies with high yielding dividends.

This investment process creates a stable and highly profitable business.

American-Amicable is also an accredited business of the Better Business Bureau (BBB) since 2011.

The BBB gives American-Amicable life insurance company a rating of A+, which is their highest award.

American-Amicable Life Insurance Solutions

American-Amicable has a number of life insurance solutions for its policyholders including term life insurance, universal life insurance, and final expense whole life insurance.  American-Amicable also has a term option for government employees and civil servants.

American-Amicable Term Life Insurance

American-Amicable offers no-exam term life insurance as a way to secure convenient and affordable life insurance coverage temporarily.

Term life insurance is an excellent option to cover temporary life insurance needs, such as paying off your mortgage balance if you die before your house is paid off.

American-Amicable no-exam term life insurance underwrites you without the hassle of the medical exam but is different than guaranteed issue life insurance that has no medical underwriting at all.

Skipping the medical exam is a great innovation. Everyone is busy these days. Finding time to schedule a medical exam to get life insurance is hard, and we see a lot of people fall out of the process due to scheduling conflicts.

American-Amicable Simplified Issue Term Life Insurance:

  • No exam or blood work required
  • Coverage from $25,000 – $250,000
  • Return of Premium option
  • Convertible to a permanent plan

While American-Amicable has quality no-exam life insurance, many people need greater coverage amounts than $250,000 death benefits.

There are companies like Sagicor Life that are leading the way in accelerated underwriting offering up to $500,000 in death benefits and preferred rates.

Term life insurance does not have any cash value associated with it. It is pure insurance.

You can purchase your coverage in term durations of 10, 15, 20, and 30-years. During the term duration that you select, your monthly payment remains level.

The life insurance company cannot increase the cost of your life insurance during the level-term period that you select even if you get sick.

However, after your level-term period ends, the life insurance company can increase your rate annually.

While you could keep your life insurance and pay annually, in practice this rarely is the best option.

The cost to keep your coverage after the level-term period ends can be costly. Most people will replace their policy with another policy if they still qualify or convert it.

A term conversion is when you exchange your term life insurance policy with a permanent policy without having to requalify.

This option is built into your term life insurance contract, but it does have limitations.

Term conversion options usually will expire after the level-term period ends or you reach a certain age, for example, age 65 or age 70.

It is wise to reevaluate your life insurance needs before your conversion period ends so you do not miss your conversion window.

American-Amicable also offers a special term life insurance for government employees and civil servants.

This plan is a 10-year renewable term with no medical exam. You can only apply for it if you belong to one of the following groups:

American-Amicable Final Expense Life Insurance

American-Amicable is well known for its final expense whole life insurance. These policies are sometimes referred to as burial insurance and are designed to cover your funeral costs and final expense.

Final expense whole life insurance has a simplified underwriting that waives the medical exam.

All that is required is a few health questions and a prescription check to verify your health making final expense life insurance very easy to both qualify for and purchase.

Many of the best final expense companies today are offering instant decisions.

You will know at the end of your application if you have been approved and the cost of your policy. It does not get much simpler than that.

Burial insurance is just a marketing term, but you are merely purchasing a whole life insurance policy. Therefore final expense insurance has all the advantages of a whole life policy making it the ideal type of life insurance to cover your burial needs.

Once you are approved, the life insurance company cannot raise your monthly premium for the rest of your life.

The truth is most people outlive their term life insurance policies. Whole life gives you peace of mind since it is a permanent policy with no expiration.

As long as you pay your monthly premium, your death benefit is guaranteed for the rest of your life. You can count on the money being there when your family needs it the most.

The policy will also generate a guaranteed cash value accumulation. The cash value grows tax-deferred within the policy, and you can access the cash value through tax-advantaged loans.

If you cannot repay the loan, that is OK. The life insurance company will pay if from your death benefit when you pass away as long as the policy is in force. Make sure that you monitor your burial insurance policy to be sure it does not lapse from non-payment.

American Amicable Universal Life Insurance

Universal life insurance is another form of life insurance that can be highly customizable. You can pick your premium based on your needs. The more premiums that you pay into the life insurance policy, the longer the death benefit lasts.

The benefit here is cost. Universal life insurance is usually a more cost-effective way to purchase permanent death benefit because it comes with fewer guarantees than whole life insurance.

However, you need to monitor your policy’s funding frequently.

If you are not funding the policy appropriately, it may lapse.

To alleviate this problem, some life insurance companies began adding a secondary guarantee to their life insurance policies with a minimum required a monthly premium.

American-Amicable offers no-exam universal life insurance up to $250,000 of death benefits with a 15-year no-lapse guarantee.

Unlike American-Amicable’s term life insurance, you can get higher amounts of coverage with full underwriting.

While American-Amicable universal life insurance is good, there are affordable universal life companies, like AIG life insurance, that allow you to add additional riders to your universal life insurance policy for chronic illness protection.

You can see our full AIG Life Insurance Review Here.

That will provide you with further information about the company.

Otherwise, let’s keep moving forward.

Additionally, life insurance companies, like Ameritas Life, offer no-exam indexed universal life insurance with living benefit riders for critical and chronic illness up to $300,000 death benefits.

While American-Amicable is an excellent option, it is worth comparing multiple options.

These living benefits give your life insurance versatility especially as you get older in life.

The odds of receiving a chronic illness are high as we age. This feature protects your death benefit and gives you a pool of money that you can tap should you become chronically ill and need it.

Final Thoughts: Is American-Amicable Life Insurance Worth It?

American-Amicable Life Insurance is a quality option for life insurance, but may not be the right life insurance company for you.

Their underwriting innovations and focus on no-exam life insurance is an advantage, but not everyone qualifies for no-exam life insurance coverage.

If you have a pre-existing health condition, you may not qualify for no-exam underwriting. Even if you do qualify for no-exam life insurance, we suggest comparing the rates of multiple life insurance companies before making a final decision.

All the best life insurance companies have different opinions on rates and underwriting.

Independent brokers can compare the rates of multiple life insurance companies. Although, make sure that your independent broker is knowledgeable and a veteran field underwriter.

Thank you for reading our American-Americable life insurance review. If you have any questions or want to compare rates, please contact us or request a quote from our site.

FILED UNDER – INSURANCE COMPANY REVIEWS

Resources – American-Amicable Life Insurance