July, 26 2017

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Life insurance reviews, news and prices from the top companies

AARP Life Insurance Review 2016

AARP Life Insurance Review 2016 The Good: AARP’s life insurance program which is underwritten by New York Life Insurance Company, has an easy application process- only 3 health questions and no physical exam.  New York Life has an A++ A.M. Best Superior financial rating (the highest available out of 16 categories).  AARP and New York Life are very well-known trusted companies in America in 2016. The Bad:  Rates can be expensive for many applicants.  Also, the premiums increase every 5 years on their term policy and coverage ends at age 80.  In addition, as with many guarantee issue policies from various companies- many people have posted complaints online about being unaware that the guaranteed acceptance life insurance has a...

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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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Columbian Life Insurance Company Review

Columbian Life Insurance Company Review Pros: Stability– Columbian Mutual Life Insurance Company was established in 1882, making them a company your family can rely on.  Products– Columbian has a wide selection of life insurance products including their popular final expense policy that allows for a rider of level term insurance on the insured’s children, grandchildren or great grandchildren. Cons: We found their term life insurance rates to be expensive compared to what is available on the open market. (See the price comparison table below) Bottom Line: Columbian Life Insurance Company was founded over 130 years ago in Brooklyn, New York.  This longevity from an insurer is reassuring when purchasing a life insurance policy to protect your family.  Columbian Life...

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Royal Neighbors of America Review

Royal Neighbors of America Review Pros: History– Royals Neighbors of America was has been in business since the late nineteenth century and has a track record of stability. Variety of Products– Royal Neighbors Life Insurance offers an impressive selection of products that include: term life, whole life, universal life, annuities and popular final expense policies that offer an immediate underwriting decision at the point of sale. Cons: Royal Neighbors has competitive rates but often not the absolute lowest. Bottom Line: Royal Neighbors of America was founded by women over one hundred years ago and today is one of the largest women run life insurance companies in America.  RNA has an impressive selection of life insurance product offerings.  The bottom...

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EMC National Life Company Review

EMC National Life Company Review Pros: Plethora of Life Insurance Products– EMC National Life Company (EMCNL) offers a very wide range of life insurance solutions to fit nearly any need.  Record High Capital Surplus– EMC National Life ended 2013 with a company record high in capital and surplus with $93.60 million in reserve. Cons: There aren’t too many cons with EMC National Life.  Although, they’re competitive on pricing they typically will not have the absolute lowest rate in the country on their term products.  Also, the company is relatively new, formed in 2003, in comparison to other top insurers. Bottom Line: EMC National Life Company, and affiliate of EMC Insurance Companies (EMC), is a solid insurance company with competitive...

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Life Insurance Comdex Rankings 2014-Insurers 250 to 500

Life Insurance Comdex Rankings 2014-Insurers 250 to 500 This list of Life Insurance Comdex Rankings 2014-Insurers 250 to 500 is a continuation of Life Insurance Comdex Rankings-Top 250 Rated Companies in 2014 post.  Many of the life insurance companies on this list, unlike the previous list, do not have a Comdex ranking; meaning they have only received one or have not received a rating from one of the four main rating agencies. Why Are Financial Ratings Important? Financial ratings provide an independent third-party evaluation to help determine the ability of the life insurer to live up to its financial responsibilities to the policyholder.  What is the point of paying for life insurance if they may not be around to payout...

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Best Life Insurance Companies by Age

Best Life Insurance Companies by Age When shopping for life insurance it’s important to choose the right company or else you could end up significantly overpaying for your life insurance policy.  Many consumers don’t realize that prices can vary by fifty percent or more for the same exact policy.  There are many different factors that will determine your rate such as your; age, height and weight, medical history, medications, occupation, hobbies, family history, driving history and even bankruptcy history.  For the purposes of the article we will show you some of the best life insurance companies by age. Age 20 $500,000 20 year term policy- preferred plus rate class-male Ohio National $20.33  A+ Rated SBLI Savings Bank Life Insurance...

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American National Life Insurance Company Review 2016

(ANICO) American National Life Insurance Company Review 2016 Pros: No medical exam coverage- ANICO’s Signature Term Express policy (not to be confused with their no exam Freedom Term policy) will typically have one of the if not the best rates in the country for no medical exam life insurance at the standard rate class (average health class) in 2016.  Rating- ANICO received an A (Excellent) rating from A.M. Best which is “excellent” for companies who are dominant in the no medical exam space.  Longevity- ANICO was founded over 100 years ago which means they are a company you can depend on. Cons: There aren’t too many cons with ANICO.  One slight could the fact they don’t offer a preferred...

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Colonial Penn Life Insurance Company Review

Colonial Penn Life Insurance Company Review Pros: Colonial Penn’s website offers instant quotes and is easy to navigate.  Colonial Penn offers two products without an medical exam; a guarantee acceptance policy with a two year waiting period for natural causes and a simplified issue whole life insurance policy with a few health questions. Cons:  Price- Colonial Penn seems to be a little more expensive compared to other companies offering a similar policy.  Additionally, as with most companies who offer guaranteed acceptance life insurance, many people have posted complaints online about being unaware that the guaranteed acceptance life insurance has a two-year waiting period for natural causes. Bottom Line:  Colonial Penn has a large advertising presence on TV with their...

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New York Life Insurance Review

New York Life Insurance Review 2016 Pros:  Financial strength- New York Life has a perfect  A++ rating by A.M. Best (highest of 16 possible ratings) and a perfect 100 Comdex score (average rating from the 4 major rating agencies).  They were even one of the top insures who did not need to accept bail out money during the financial crisis in 2008-2009.  New York Life is the largest mutual life insurance company in the country and a symbol of stability as they’ve been around over 150 years. Cons:  New York Life’s prices are often much higher than many other top life insurers with a similar financial rating for term life insurance. (See table below) Bottom Line:  New York Life is...

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Globe Life Insurance Review 2016

Globe Life Insurance Review 2016 (updated 2/2016) The Pros:  Globe Life and Accident Life Insurance Company has a very easy application process with no medical exam and only a few health questions.  Also, there is no two year waiting period, coverage begins once the policy is issued for both natural and accidental death.  Additionally, Globe Life is A+ Superior rated (second highest of 16 ratings) by A.M. Best for financial strength. The Cons: Globe Life’s popular term life insurance for adults policy is a step-rate insurance plan and the rate increases every 5 years (every 5th birthday).  This is attractive initially since the price is low to begin (even $1 for the first month) but the rate increases as...

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