Phoenix Life Insurance Rating? Honest-2018

Planning for your future | Life Insurance

Phoenix Life Insurance Rating? Looking for an Honest Review

All you need to know about Phoenix Life

Phoenix Life Insurance Rating and logo

Good Life Protections viewpoint and Phoenix Life Insurance Rating. Please note- this is the viewpoint of Good Life Protection.  We independently rank and discuss life insurance company.  Our Phoenix Life Insurance Rating may vary from another article or agency who performs ratings as well.

 

Lets dive into it.

Who is Phoenix Life?  Is Phoenix Life Insurance a reputable life insurance carrier?  Are Phoenix Life Insurance products the best you could do?  Are guess is that you probably have been contemplating a no-exam life insurance policy or maybe you are looking into the Phoenix Life Remembrance Final Expense plan.  Otherwise, you wouldn’t be reading this blog post or surfing google to find information about Phoenix Life Insurance Co.  So, let’s get back to the original question.  Who is Phoenix Life?  Why do life insurance agents keep mentioning them as a possible option to fill your life insurance needs?

Are they reputable?

We will cover that.

If you are searching for the exact details or overall review of Phoenix Life, check out are full review of Phoenix Life Insurance Company.  For the shortened and plain English version of Phoenix Life, read on and we promise to deliver some of the answers to your questions.

So Who is Phoenix Life Insurance Company? Phoenix Life Insurance Rating Part 1

Again, if you are looking for a more in depth long version of who Phoenix Life Insurance Company is, see our full review of the company.  It will give you more of the details such as…

  • When Phoenix Life was Founded?
  • Financial Strength Ratings for Phoenix Life
  • Individual Phoenix Products offered to consumers.

However, if you are looking for the easy answer of who Phoenix Life is, it’s simple.  They are a top no-exam life insurance company offered by life insurance agents across the United States.  Why are they at the top? Why do agents keep offering Phoenix Life to consumers? 

They are extremely competitive…

You see….

I’m an independent life insurance agent and Good Life Protection also has no direct ties to any company or life insurance carrier, but we offer basically all of them.  What do consumers want 95% of the time? And yes, by consumers, that includes you. 

They want the best deal that they can get.  We can’t blame you one bit for that.  We would want it too and we want to give you the best deal. 

Over 1,000.00 life insurance carriers flood the market across the United States.  Options for no exam life insurance is much more limited.  To give you an idea, we typically keep our options for the consumers limited to less than ten strong no-exam life insurance companies. 

Phoenix Life Insurance Company falls into this mix.

As a matter of fact, Phoenix Life Insurance can often be the cheapest option for a no exam life insurance policy.  Does this mean they are the best? Not necessarily.  Does that mean you have anything to worry about for choosing them?  Absolutely not.  They are a strong, reputable life insurance carrier.  That doesn’t mean they are a jack of all trades though.  You still need to choose your policy carefully and know all the details.

What Phoenix Products are offered- Phoenix Life Insurance Rating Part 2

Phoenix Life Insurance Company offers a wide range of products.  We know that you aren’t here to learn about those products, so we are going to explain the Phoenix products we know pertain to why you are googling this information in the first place.

The two biggest products Phoenix Life Insurance offers would be…

Phoenix Safe Harbor Term Insurance and Phoenix Safe Harbor Term Express Term Insurance (Mark- link these two pieces to the brochures I’m attaching to the article)

Phoenix Life Safe Harbor Term and Safe Harbor Term Express

Phoenix Remembrance Life Final Expense Plan

The Phoenix Life term products are an area of focus for most agencies.  Why exactly?  People such as yourself hate medical exams and don’t want to deal with the pesky needle or blood draw to get life insurance coverage.  So, what do you do?  You turn to no-exam life insurance options.  Phoenix is at the top of the list.

How does it work?

If you have decided you want to purchase a no-exam life insurance policy, here’s what’s going to happen.

  • You will still be asked a full medical history. As a matter of fact, the application process is even more in depth due to the fact the company is waiving the exam.
  • You will submit your application with your agent.
  • Phoenix Life will begin underwriting your application. How do they do this?
  • Prescription report- Allows Phoenix life to view your current and past prescriptions.
  • MIB Report- Allows Phoenix Life to view pertinent medical information
  • Motor Vehicle Report- Phoenix Life will run your driving record making sure you’re not secretly a weekend drag racer

What happens next?  You will either be approved or declined.  Yes, it’s really that simple.

Keep in mind however, Phoenix Safe Harbor Term Express and Phoenix Safe Harbor Term are two completely different products.

Phoenix Safe Harbor Term Express

This version of the term insurance is a bit costlier, but you are looking at approvals within 24-48 hours.

Phoenix Safe Harbor Term

This version of the term insurance is a little friendlier on the wallet but can still take weeks to gain an approval.

So How much we talking? What’s Phoenix Life going to cost you?

Unfortunately, this question is not that easy to answer.  The reason being…

Everything still matters.  You are probably thinking but it’s a “no-exam”! What could matter?  This is a huge misconception in the life insurance world.  Your health still matters.  Your family history still matters.

However, we still wanted to give you a sneak peek at the rates you could possible expect.

Phoenix Life Insurance Example Rates and Quotes- Phoenix Life Insurance Rating Part 3

For the example rates and no-exam life insurance quotes, we are going to use a “standard health class rating”.  We are also going to show rates for 250,000.00 in life insurance coverage on a 20-year level premium term.  Keep in mind, these will never require a medical exam.  These rates are also displayed assuming you are a non-tobacco user.

Male 250,000 Coverage for 20 Years Duration

Phoenix Life No – Exam Safe Harbor

MALE

FEMALE

AGE SAFE HARBOR TERM SAFE HARBOR EXPRESS
25
$34.91
$46.34
35
$41.60
$64.03
45
$77.63
$127.25
55
$182.05
$291.44
65
$478.49
N/A
75
N/A
N/A
AGE SAFE HARBOR TERM SAFE HARBOR EXPRESS
25
$30.16
$40.73
35
$38.14
$56.27
45
$61.88
$98.77
55
$141.49
$219.37
65
$357.89
N/A
75
N/A
N/A

Level Premium Term

AGE MALE FEMALE
25
$16.22
$13.24
35
$17.14
$15.26
45
$33.07
$26.27
55
$75.89
$54.36
65
$244.84
N/A
75
166.84
N/A

What else Is Phoenix Life Insurance Great for?

One of the biggest underwriting or health impairments that Phoenix Life Insurance does an incredible job with approvals and favorable rates would be the following…

  • Type 2 Diabetes-
  • Higher Build or Overweight Individuals
  • Individuals with 2 or less total Medications

 

What is Phoenix Life not so great at- The downside of our Phoenix Life Insurance Rating

Phoenix Life is not as large as a few other life insurance carriers such American General, Prudential or Protective Life.  They don’t want to absorb heavy risk.  Especially risk that are on the fence or a bit too “unknown” to them.  If you have a lengthy medical history or possibly a long list of medications with poor follow up with your physician, you could run into some issues gaining approval with Phoenix Life for your life insurance coverage.

Phoenix Life Insurance Vs. Everyone Else

Who Wins?

This isn’t necessarily a 100% accurate explanation because we are not really comparing apples to apples with the comparison.  To re-emphasize, Phoenix Life Insurance Company is primarily known for no-medical exam life insurance policies.  Keeping that in mind, we should only compare them to other non-medical life insurance carriers. 

So, are they the best you can get?  It’s hard to say.  We are big fans of Foresters Financial as well for no-medical exam life insurance, but Phoenix does a great job as well.  We know this isn’t the black and white answer you were probably looking for but let us put it this way for you.  You won’t be disappointed with Phoenix Life and they are a reputable strong life insurance carrier.

In addition.  Phoenix Life Insurance company does offer Living benefits.  Simply put, if you trigger a health event that falls within Phoenix’s guidelines such as

  • Cancer
  • Heart Attack
  • Strokes

You can accelerate the death benefits to help cover some of those extremely high medical bills you will take in during your potential health crisis.  This is a great added benefit built into the premiums.

Putting it all Together- The Final Piece and Final Word on our Phoenix Life Insurance Rating- Overall Grade B+

Other life insurance carriers will always be around.  The options are virtually endless.  Phoenix life is another company to add to your list.  Trust your life insurance agent and independent life insurance agency to explain how the life insurance policy works.  Let a company like Good Life Protection understand your medical background and individual needs.  This allows us to tailor a policy just for you and your needs.  Phoenix Life Insurance Company is a top provider in no-exam life insurance industry and isn’t showing any signs that it will be outperformed by other carriers anytime soon.  Give us a call today.  We are happy to explain the pros and cons of Phoenix Life and see if it may be a fit you and your family’s protection.

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