August, 19 2017

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Life insurance reviews, news and prices from the top companies

MassMutual Life Insurance Review 2017

MassMutual Life Insurance Review 2017 Pros:  Financial Strength– MassMutual (Mass Mutual) has the highest financial rating available in 2017 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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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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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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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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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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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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Unum Life Insurance Review

Unum Life Insurance Review Pros: History– Unum has been in business since 1848. Market Leader– Unum has been one the nation’s largest disability and voluntary benefits insurance companies for nearly four decades.  Awards– In 2013, Unum made Forbes list of America’s 100 Most Trustworthy Companies. Cons: Unum doesn’t have the least expensive rates for individual life coverage. (See price comparison below) Bottom Line: Unum is the top disability insurance company and the leading provider of employee benefit solutions in the United States.  In reviewing their individual life insurance rates, underwritten by Provident Life and Accident Insurance Company they were not the least expensive available.  The bottom line as with as with all the companies we review, we recommend that...

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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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Security Mutual Life Insurance Review

Security Mutual Life Insurance Review Pros: History– Security Mutual Life was founded in 1886 proving they are a company your family can depend on in the future.  Dividends– For the past 122 years, Security Mutual Life paid a dividend to its policyholders. Cons: Their term life insurance rates are not the least expensive available. (See Price Comparison Table Below) Bottom Line: Security Mutual Life, which is now Security Mutual Life Insurance Company of New York (after a name change in 1960), is a stable life insurance company headquartered in New York that has been around for the past 128 years. They offer a wide selection of insurance products to help their clients meet their financial goals.  As with all...

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Group Life Insurance Review

Group Life Insurance Review Pros: Free Coverage– Most employers offer (1x) your annual salary of complimentary or very inexpensive life insurance as part of the group benefit package.  This type of coverage is a great deal and you definitely shouldn’t turn it down.  Convenience- The additional life insurance beyond the free group coverage (called voluntary life insurance or supplemental life insurance) typically doesn’t require a medical exam.  Minimal Underwriting– The supplemental life insurance through your employer typically has less underwriting making it a viable option for someone who may be uninsurable elsewhere. Cons: Expensive– The additional life insurance through your employer is typically much more expensive compared to what is available on the open market (see price comparison tables...

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MTL Insurance Company Review

MTL Insurance Company Pros: History– MTL Insurance Company has been around for over 100 years proving they are strong, stable life insurance company.  Cons: Their term life insurance rates are not the cheapest available. (See table below) Bottom Line: MTL Insurance Company formerly; Mutual Trust Life Insurance Company is known as “The Whole Life Insurance Company” as its specialty product is participating whole life insurance.  MTL has been around since 1904 and develops, underwrites and services individual life insurance and annuity products.  In comparing their term life insurance rates to the rest of the market they were not the cheapest.  As with all the companies we review, we recommend that you receive a quote from MLT Insurance Company and...

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Baltimore Life Insurance Company Review

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...

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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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Country Financial Life Insurance Review

Country Financial Life Insurance Review Pros: Size– Country Financial is ranked at #668 in 2014 on the Fortune 1000 list with $3.4 billion in revenues.  Local Agents– Country Financial employs the local agent business model which many people still prefer.  Variety of Products– True to their roots, Country Financial still offers farm and crop insurance in addition to the traditional; auto, home, renter’s, commercial, disability, life and commercial insurance. Rating– Country Life Insurance Company has an A+ (Superior) financial rating from the preeminent rating agency A.M. Best. Cons: Their life insurance rates are not the cheapest compared to what is available on the open market. (See the Price Comparison Table Below) Bottom Line: Country Financial is a highly rated...

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American Family Life Insurance Review 2016

American Family Life Insurance Review 2016 Pros: Discounts– American Family Insurance offers a five percent discount on their auto insurance rates if you or a member of your household has both an auto and life insurance policy with them. Variety of Life Insurance Products– American Family Insurance offers a wide range of life insurance policy options including: no medical exam life insurance, term life insurance, universal and whole life insurance.  Local Agents– American Family Life Insurance still uses a local agent business model.  Many consumers still prefer to conduct business with someone face to face with a brick and mortar office in their community. Size– American Family Insurance is a Fortune 500 company (#373 in 2014) with revenues in...

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National Western Life Insurance Review

National Western Life Insurance Review Pros: Stock Price– National Western Life Insurance Company is financially strong with an A (Excellent) rating from A.M. Best and a current stock price (as of this writing) is $247.83 a share. Advanced Product Offerings– NWL offers a diverse selection of life insurance interest sensitive life insurance products and annuity contracts for asset accumulation and retirement needs. Cons: Their term life insurance rates are not the most competitive available.  (See table below) Bottom Line: National Western Life Insurance Company has been around since 1956 and is a financially strong insurer that has an A (Excellent) rating from the preeminent rating agency A.M. Best.  National Western Life caters more to wealthy individuals as many of...

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