June, 24 2017

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Baltimore Life Insurance Company Review

Baltimore Life Insurance Company Review

Author
  • Price
  • Financial Strength

Baltimore Life Insurance Company Review

Pros: Stability– Baltimore Life has been in business for over 130 years and is the thirty-sixth oldest life insurance company in the U.S. 

Cons:  Their term rates are not the most competitive and their A.M. Best rating is not in the A- (Excellent) or better category that see with many of the companies we review.

Bottom Line: The Baltimore Life Insurance Company has been around since 1882 and has met their financial obligations (paid out claims) to their policyholders for the past 130 years.  Baltimore Life provides a variety of life insurance products to meet almost any need, including their popular life insurance solutions for seniors.  However, their financial rating of B++ is a little lower than many of the other top companies we reviewed.  Although a B++ financial rating from preeminent ratting agency A.M. Best is still categorized as (Good).  Also, their term rates were not the most competitive with some of the other companies available on the market. Bottom line, as with all the companies we review, we recommend that you receive a quote from Baltimore Life Insurance Company and from the other top companies and choose the best one for you.

About

Type: Mutual Insurance Holding Company

Issued by: The Baltimore Life Insurance Company

Founded: 1882

Website: baltlife.com

Phone: (800) 628-5433

Address: 10075 Red Run Blvd, Owings Mills, MD, 21117

A.M Best Rating: B++  (Good) Fifth highest of 16 possible ratings

Comdex Ranking: N/A

BBB Rating: A+

States Operate In: Licensed in 49 states and the District of Columbia

Life Insurance Products: Senior Life Insurance (Covers Funeral and burial costs), Single Premium Whole Life Insurance  (Maximize and estate), Mortgage Insurance (No exam life insurance), Participating Whole Life Insurance (Coverage that lasts a lifetime), Level Term (Protects income and children for a designated term) and Annuities.

Competitors: Foresters, 5 Star Life Insurance Company, Oxford, Americo, United Home Life, Monumental,Funeral Advantage, Standard Life, State Farm, Farmers, Allstate, Nation Wide, American Family Life Insurance, Progressive Life Insurance, ANICO, Allianz Life Insurance Company, Fidelity & Guaranty Life, American General Life, Banner Life, Protective Life, Primerica, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, Grange Life Insurance Company, Symetra Life Insurance Company, Mutual of Omaha, John Hancock, PennMutual, Principal, TIAA-CREF, Guardian, OneAmerica, Minnesota Life, RiverSource, Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Sagicor, Amica, Assurity, Colonial Penn, AARP, Globe Life, Ohio National Life Group, New York Life, Northwestern Mutual, EMC National Life, Motorists Life, Pan-American Life, National Life Group, American Family, Shelter, HoraceMann, Group Life Insurance, Supplemental Life Insurance, Aflac, Voluntary Life Insurance, Unum,  MassMutual.

Price Comparison

Sample rates for a $250,000 policy on a 20-year term at each company’s standard health class, for a 40-year old male, non-smoker.

AgeBaltimore LifeAIGBanner LifeNW Mutual
40$53.58$41.26$41.34$52.04

 

What is your experience with Baltimore Life Insurance Company?  Tell others if you would recommend them to your friends and family.  Please leave a comment and rating below.

 

 

Summary
Review Date
Reviewed Item
Baltimore Life Insurance Company
Author Rating
3