June, 24 2017

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Life insurance reviews, news and prices from the top companies

State Farm Life Insurance Review 2016

State Farm Life Insurance Review 2016 The Pros:  Financial Strength– State Farm has the highest financial rating available in 2016; A++ (Superior) from A.M. Best.  Size– State Farm is one of the largest life insurance companies in America.  Brand Recognition– With a significant adverting presence, State Farm is a household name when it comes to insurance.  Local Agents– State Farm has local offices that you can stop into to see your agent if you have any questions. The Cons:  State Farm’s life insurance rates are typically more expensive compared to the rest of the market (see rates below).  Also, their underwriting can be more strict than many other top companies which can increase premiums or lead to a decline....

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Thrivent Financial Life Insurance Review 2016

Thrivent Financial Life Insurance Review 2016 Pros: Financial Strength & Ratings– Thrivent Financial has the highest financial rating available from the leading rating agency A.M. Best with an A++ (Superior) grade and possess a 98 out of 100 Comdex score in 2016.  Awards– Thrivent Financial for Lutherans was an honoree for The World’s Most Ethical Companies designation in 2014.  Size– Thrivent Financial is a fortune 500 company (#335 in 2014) and is the largest fraternal benefit society in America with over two and a half million members. Volunteering– In 2013, the organization contributed nearly $183 million and its members volunteered more than 8.6 million volunteer hours. Cons: Not too many cons with this company. Bottom Line: Thrivent Financial for...

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Farmers Life Insurance Review 2016

Farmers Life Insurance Review 2016 Pros:  Local agents- Farmers uses a brick and mortar business model with local agents- which many people prefer.  Well-known- Farmers is very well known thanks to their popular television commercials.  Website- Farmers website is very user friendly and provides instant rate quotes. Cons: Price- Farmers prices are often higher compared to other insurers we reviewed.  (See table below) Bottom Line: Farmers Insurance is a household name and a top 5 auto and home insurer in America.  While their property and casualty is highly ranked, their life insurance (issued by New World Life Insurance Company) rates are higher than many of the other top companies we reviewed in 2016.  Farmers does have local agents, good...

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MassMutual Life Insurance Review 2016

MassMutual Life Insurance Review 2016 Pros:  Financial Strength– MassMutual (Mass Mutual) has the highest financial rating available in 2016 from A.M. Best with an A++ (Superior) rating. Size and Stability– MassMutual is one of the largest life insurance companies in America and have been in business for more than 160 years.  They also have consistently paid dividends to their whole life policy holders since the 1860s. Mutual Company– As the name implies, Mass Mutual is a mutual company meaning it’s owned by the policy holders. Cons:  Price– MassMutual Life Insurance is expensive for term life insurance compared to the other top life insurance companies in America (see price comparisons below).  Underwriting– Since MassMutual is a mutual company their underwriting...

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Prudential Life Insurance Review

Prudential Life Insurance Review 2017 Pros:  Prudential Life Insurance Company (also known as Pruco) is one of the largest life insurance companies in the country by total market share in 2017.  Prudential is A+ (Superior) rated by A.M. Best (second highest of 16 ratings).  They have the best rates for certain niches such as cigar and smokeless tobacco users.  Also, Prudential is one of the most popular and well-respected names in the financial services sector.  In addition to their niche of offering non-tobacco rates to chew and cigar users, they offer some of the best rates in the nation for sleep apnea, medical marijuana, travel, and many other health conditions.  They will often have some of the best rates...

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WAEPA Life Insurance Review

WAEPA Life Insurance Review Pros: The possibility of not having to complete a physical exam, although an exam may be required for some. WAEPA’s rates may be less expensive than FEGLI, for some (see chart below). WAEPA also provides the option to add a spouse for up to $250k and children up to $25k for an additional premium. WAEPA does has an additional Accidental death and dismemberment coverage added into their policies. Cons: Rates can be expensive compared to what is available on the open market, especially if you are in good health (see rates below). Also, the rates increase every 5 years (by age bracket). This is unlike the private market where the rate can be locked in...

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Term Life Insurance Review 2016

Today I wanted to do a review of term life insurance for 2016. Term life insurance is recommended by many of the top financial advisors in the country such as Suze Orman, Dave Ramsey and Clark Howard. First, let’s start off by defining what term life insurance is. Here is a great definition from Wikipedia: term life is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed. The reason why term life insurance is so popular and highly recommend by the preeminent financial advisors mentioned above is that term life insurance provides the...

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Life Insurance: MetLife vs Allstate vs State Farm vs Mutual of Omaha

Life Insurance: MetLife vs Allstate vs State Farm vs Mutual of Omaha   Today, let’s take a look at four very popular insurance companies; MetLife, Allstate, State Farm and Mutual of Omaha and compare which is the best for life insurance. Of course “best” is subjective because it’s hard to quantify the value of having a local agent that has a brick and mortar office in your neighborhood and one that you may have a close personal relationship with but we here we will compare important information such as; financial ratings, prices and length of time in business.   Rate Comparison   ($500k 20 year term) Mutual of Omaha     MetLife      State Farm     Allstate $29.97              ...

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Primerica vs. Prudential vs. MetLife vs. Mutual of Omaha vs. Protective Life

Primerica vs. Prudential vs. MetLife vs. Mutual of Omaha vs. Protective Life Some of top underwriters of term life insurance in America today are; Primerica (Prime America), Prudential, MetLife, Mutual of Omaha, and Protective Life. If you’re are in the market for life insurance and are uncertain which company is best, this article will provide some additional information, including; ratings, prices, and other key facts to assist you in your search for the best term life insurance policy to protect your family and provide you with peace of mind that life insurance provides.   Financial Ratings A.M. Best Primerica    Prudential   MetLife   Mutual of Omaha   Protective Life A+                  A+          A+            A+...

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New York Life vs. MetLife vs. Prudential vs. AIG

New York Life vs. MetLife vs. Prudential vs. AIG           In this article I wanted to compare side-by-side some of the top life insurance companies in America today. Many shoppers in the market for life insurance seek the rates from these four companies in particular; New York, MetLife, Prudential and AIG. This is because the aforementioned companies are some of the most well-known in the United States and have been in business for over 125 years. So which company is best? How are they rated? How do their rates compare? Which one should you choose? Let’s take a closer look.   Financial Rating by A.M. Best New York Life              MetLife         Prudential                  AIG A++               ...

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Prudential Life Insurance Rating 2016

Are you looking for the up to date Prudential Life Insurance Rating 2016? Then you came to the right place. First, a quick overview on life insurance ratings. There are four major rating agencies used to evaluate the financial strength of life insurance companies. Those four are; A.M. Best, Standard & Poor’s, Moody’s Investors Services and Fitch. The foremost authority and the main rating agency many insiders and agents use is A.M. Best. As a general rule, as long as an insurer is graded with an (A-) or better from A.M. Best then that company is financially sound and you shouldn’t have to worry about as far as the company being able to payout any future claims. What are...

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MetLife Life Insurance Ratings 2016

MetLife Life Insurance Ratings 2016   There are many different rating agencies in America that assess life insurance companies. The foremost authority in rating agencies is A.M. Best. This is the primary rating you should use in looking how strong the insurer is financially. There are three other “main” rating agencies which I will list below along with MetLife’s life insurance rating.   A.M. Best MetLife Life Insurance Rating 2016 A.M. Best: A+   A.M. Best Ratings Scale Secure Vulnerable A++, A+ (Superior) B, B- (Fair) A, A- (Excellent) C++, C+ (Marginal) B++, B+ (Good) C, C- (Weak)   D (Poor)   E (Under Regulatory Supervision)   F (In Liquidation)   S (Suspended)   Fitch MetLife Life Insurance Rating...

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New York Life Insurance Rating 2016

A.M. Best New York Life Insurance Rating A.M. Best 2016– A++   Secure Vulnerable A++, A+ (Superior) B, B- (Fair) A, A- (Excellent) C++, C+ (Marginal) B++, B+ (Good) C, C- (Weak)   D (Poor)   E (Under Regulatory Supervision)   F (In Liquidation)   S (Suspended)   Fitch New York Life Insurance Rating Fitch 2016- AAA   AAA: Highest credit quality. ‘AAA’ ratings denote the lowest expectation of default risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events. AA: Very high credit quality. ‘AA’ ratings denote expectations of very low default risk. They indicate very strong capacity for payment...

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Accidental Death Insurance Review

Accidental death insurance pays your loved ones if your death results from an accident. Accidental death insurance will not pay out any money if death results from sickness or natural causes. Many people are not aware of the difference between an accident and a natural cause. Common Causes of Accidental Death: Car crashes Accidental Falls Poisonings Accidental Drowning Assault by Firearm Suffocation Pedestrian accident Machinery Falling Objects Choking on Food   Common Causes of Natural Death: Heart Disease Cancer Stroke Respiratory Disease Alzheimer’s Diabetes Pneumonia Kidney Disease “Old Age” Infections As you can see from the list above, those who are over the age of 40 are statistically more likely to pass away from a natural cause then an...

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Companion Life Insurance Company Review

Companion Life Insurance Company Review   Pros: Price– Companion Life Insurance Company will often have the absolute lowest rate in the state of New York. Rating– Companion has an A+ Superior financial rating from the preeminent rating agency A.M. Best. Stability– Companion Life Insurance Company is a subsidiary of Mutual of Omaha, a Fortune 500 company that has been in business for over 100 years. Cons: There are not too many cons with this company. Just make sure to compare rates and underwriting qualifications to make sure they are the best company for you. Bottom Line: Companion Life Insurance Company, a subsidiary of Mutual of Omaha, is a top tier life insurance company with an A+ Superior financial rating....

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ReliaStar Life Insurance Company of New York Review

ReliaStar Life Insurance Company of New York Review (aka Voya Financial Life Insurance New York)   Pros: Rating– ReliaStar Life Insurance of New York (a subsidiary of Voya Financial, formerly known as ING) has an A (Excellent) rating from the preeminent rating agency A.M. Best. History– ReliaStar Life Insurance has been in business since 1885 and the New York office since 1917. $200,000 Price Break– ReliaStar offers price banding discount at the $200,000 face amount, often making them the lowest priced company in the country for those looking for a $200k life policy. Underwriting– ReliaStar offers very favorable underwriting for seniors over the age of 60. Also, ReliaStar will does not hold any family history of cancer against you...

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William Penn Life Insurance Company Review

William Penn Life Insurance Company Review   Pros: Rates– William Penn will typically be in the top 5 lowest priced life insurers in the state of New York, especially for healthy people and those with diabetes or significant health conditions. Table Rates (Substandard)-William Penn uses a standard plus table rate, meaning those in below average health or those that are above normal on the build chart can qualify for lower rates. Rating– William Penn has an A+ (Superior) A.M. Best financial rating and an 94 out of 100 Comdex score making them a top insurer just like their sister company Banner Life. History– William Penn is a subsidiary of Legal & General which has been in business since the...

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US Life Insurance Company Review

US Life Insurance Company Review (Also known as US Life and The United States Life Insurance Company of New York) Pros: Rates and Underwriting– US Life will typically offer some the lowest prices on life insurance in the state of New York. Similar to William Penn, US Life offers favorable rates and underwriting especially for diabetics.  Stability– The United States Life Insurance Company (US Life) is a part of AIG- (American General) which has been in business since 1850. Cons: There aren’t too many cons with US Life. Just make sure you compare rates to ensure you are receiving the best rate. Bottom Line: The United States Life Insurance Company of New York is AIG-American General’s life insurance company...

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Life Insurance Company Ratings 2015

When choosing a life insurance company, one of the first things you need look at is an insurers A.M. Best rating.  Although it just takes a second to do, it’s vitally important to ensure that you’re choosing a life insurance company that will be able to payout any future claims.  A.M. Best is the gold standard in evaluating life insurance companies.  A general rule of thumb when choosing an insurance company is to make sure the insurer has received an A.M. Best rating of A- (Excellent) or better.   2015 A.M. Best Rating Categories   A++, A+ (Superior)– Assigned to companies that have a superior ability to meet ongoing insurance obligations. (per the opinion of A.M. Best)   A, A-...

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Best Life Insurance Companies 2015

The Best Life Insurance Companies 2015 possess all of the attributes that you need in a life insurance company.  How did a company make our Best Life Insurance Companies 2015 list?  We looked at several factors, in combination such as; the best rates in the country, combined with a high A.M Best financial rating, favorable underwriting guidelines and having a great reputation as far as paying out claims in a timely manner.  These companies have been carefully monitored, researched and most importantly; are tried-and-true as they are the ones we trust to place our clients with.    Are All Life Insurance Companies the Same? No. Every life insurance company is different from another.  There are over nine hundred plus...

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CMFG Life Insurance Company Reviews

CMFG Life Insurance Company Reviews Pros: History– CMFG Life Insurance, also known as CUNA Mutual (Credit Union National Association) had been serving credit unions since 1935.  No Physical Exam– With CMFG, Life insurance coverage amounts under $200k typically won’t require a physical exam. Cons: There aren’t too many cons with CMFG Life Insurance Company. Bottom Line: CMFG Life Insurance Company, formally known as CUNA Mutual Insurance after a company reorganization, is a dominant insurer in the niche of serving credit union members.  In 2012, the company launched the TruStage insurance program to better market specifically to credit unions.  In reviewing their rates, CMFG Life Insurance Company does have competitive pricing but won’t have the absolute lowest premium available on...

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Trustage Life Insurance Review

Trustage Life Insurance Review Pros: Size– The number of credit union members served by the TruStage insurance program totals over 15 million which includes; life insurance, accidental death and dismemberment (AD&D) auto insurance and homeowners insurance as well as other insurance products.  Awards– TruStage’s apparent company, CUNA Mutual Group was nominated as one of the worlds most ethical companies by the Ethisphere Institute.   No Medical Exam– For life insurance policies under $200,000 a medical exam typically isn’t required.  History– TruStage’s apparent company, CUNA Mutual, has been serving credit unions since 1935. Cons: Doesn’t Shop for the Lowest Rates– Trustage which is part of CUNA Mutual, only offers rates from their apparent company- CMFG Life Insurance Company.  While TruStage- CMFG...

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(NSO) Nurses Service Organization Life Insurance Review

(NSO) Nurses Service Organization Life Insurance Review Pros: Convenience– For coverage amounts of $100,000 or less a medical exam typically won’t be required.  Also the application is simple and done online. Cons: Expensive– The rates are typically much more expensive compared what is available on open market (See the price comparisons below).  Limited Amount of Coverage– The maximum size life insurance policy with Nurses Service Organization is $200,000 which may not be enough protection for some families.  Rates Increase– The rates increase every 5 years on the Group Term Life Insurance plan. Bottom Line: The life insurance available through NSO- Nurses Service Organization, underwritten by The United Stated Life Insurance Company is convenient for those looking for a policy...

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Union Plus Life Insurance Review

Union Plus Life Insurance Review Pros: Convenience– The Term-to-70 Insurance product doesn’t require a health exam for coverage amounts under $150,000.  Strike Assistance– Premiums are waived for up to 3 months if the insurered is involved a union-sanctioned strike lasting for 30 days (for eligible states and unions). Cons: Expensive– In most cases, the coverage is more costly than what is available on the open market.  Not locked in– The prices on the Term-to-70 product increase every 5 years. Limited Amount of Coverage– The largest policy available is $250,000 which may not be enough protection. Bottom Line: Life Insurance offered by Union Plus which is underwritten by The Hartford Life and Accident Insurance Company is convenient for coverage amounts...

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Physicians Mutual Life Insurance Review

Physicians Mutual Life Insurance Review 2016 Pros: History– Physicians Mutual Insurance Company was founded in 1902 and in 1970, Physicians Insurance Company was established to offer life insurance.  Claims– Physicians Mutual Insurance Company pays out over $302 million in claims annually while Physicians Life Insurance Company pays out $125 million in claims annually.  Customer Service– Physicians Mutual received a 97% customer stratification score from a 2010 survey conducted by Weise Research Associates. Cons: Pricing– Their rates are not the most competitive with some of the other top life insurers on the market. (See price comparison below) Bottom Line: Physicians Mutual Insurance Company has been around since the turn of the century in 1902.  Physicians Mutual is an A (Excellent)...

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10 Year Vs. 20 Year Term Life Insurance Review

10 Year Vs. 20 Year Term Life Insurance Review Many people looking to purchase term life insurance have trouble deciding between a 10 year vs 20 year term life insurance policy.  While there are pros and cons to both, this article we break down and review the advantages and disadvantages of both to assist you in choosing the best term policy for your needs. What is Term Life Insurance? Before we begin to compare and contrast a 10 year vs. 20 year term life insurance, let’s first explain what term life insurance actually is.  Term life insurance provides life insurance protection for a specified period of time.  The coverage amount and price are fixed for the chosen term.  Term...

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Best Life Insurance Companies for Males Over 40

The best life insurance companies for males over 40 are highly rated, offer low rates and have favorable underwriting guidelines.  This will ensure you get the best policy to protect your family. Best Life Insurance Companies for Males Over 40 Once a man reaches the age of 40, most likely he has a family to support and the need for life insurance becomes very apparent.  But with so many life insurance companies out there to choose from which is the best one?  Well, here is an insider tip when it comes to life insurance, you can shop mostly on price.  Life insurance is one of the most regulated industries in America, so as long as you choose an insurer...

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Best Life Insurance Companies for Seniors Over 60

The best life insurance companies for seniors over 60 provide different policy options such as term life insurance, no-lapse universal life, simplified issue and guaranteed issue. They are also highly rated, have favorable underwriting guidelines and provide the lowest rates.  Since the life insurance needs of a senior over the age of 60 may be different than someone just starting out raising a family, it’s important to choose the right life insurance company and policy to make sure your financial obligations are take care of. Best Life Insurance Companies for Seniors Over 60 With so many different policies and companies to choose from, where do you start? We will go over the some of the most popular types of...

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Best Mortgage Life Insurance Companies

The best mortgage life insurance companies provide peace of mind that if you unexpectedly pass away your loved ones will be able to pay off the mortgage balance, erasing the burden of most people’s largest debt. Best Mortgage Life Insurance Companies 2015 While most people are familiar with how a mortgage works, choosing the best mortgage life insurance policy to protect your loved ones is not as well known.  This article will help you navigate the seas of mortgage protection and help you find one of the best mortgage insurance companies in America.   Mortgage Life Insurance Mortgage life insurance is a product typically sold by the mortgage lender or other specialty insurance company that pays off your mortgage...

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Alfa Life Insurance Review

ALFA Life Insurance Review Pros: Competitive Pricing– We found Alfa Insurance to have competitive life insurance rates, specifically on their 20 and 30 year term policies.  Convenience– Alfa Insurance is a full-service insurance company offering auto, home, farm, business, health, dental, watercraft, flood, umbrella, church and life insurance.  Many people find it much more convenient to have all their insurances with one company.  Stable– Alfa has been around since 1946 and has more than 1 million polices inforce. Website– Alfa’s website provides instant rate quotes and is also; simple, clean and easy to navigate. Cons: Their 10-year term rates were not the most competitive in our research. Bottom Line: Alfa Insurance has been around for over a half a...

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