November, 24 2017

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Life insurance reviews, news and prices from the top companies

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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Standard Life and Accident Review

Standard Life and Accident Review Pros: Competitive Pricing: Standard Life & Accident has very competitive rates on traditional term life insurance (see table below). Senior Friendly– SLAICO is recognized as a premier insurer for the senior market. Cons: Their website has some good information on various insurance products but when it comes to information on the insurance company itself it is very scarce. Bottom Line: Standard Life and Accident Insurance Company is a leading provider of Medicare Supplement insurance products for seniors.  They also offer very competitive pricing on traditional term life insurance.  As with all the insurers we review, we recommend you receive a quote from Standard Life and Accident Insurance Company but also from the other top...

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Illinois Mutual Life Insurance Review

Illinois Mutual Life Insurance Review Pros: Longevity– Illinois Mutual was founded in 1910 giving customers peace of mind IMLIC will be around to meet future obligations.  Top Seller List– Illinois Mutual is ranked 127 on the Top 200 Life Writers in America.  Family Operated Business– Illinois Mutual Life Insurance Company is a fifth generation family run mutual company that prides itself on top notch customer service. Cons: Illinois Mutual Life Insurance Company prices are not the cheapest available.  Also, their B++ (Stable) financial rating from A.M. Best is a little lower than the A (Excellent) to A++ (Superior) range that we normally like to see from a top life insurer. Bottom Line: Illinois Mutual Life Insurance Company is a...

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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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Motorists Life Insurance Company Review

Motorists Life Insurance Company Review Pros: Independent Agents– Motorists Mutual Insurance Company employs the independent agent business model.  This means their agents are often local members of the community and meet the client face to face, which many people prefer. Growing Company– From 2002 to 2012, their assets have increased by 84%. Cons: Their rates aren’t the lowest available. (See Price Comparison Table Below) Bottom Line: Motorists Life Insurance Company is a solid life insurer that has been around since 1965 and has seen an eighty-four percent increase in growth from 2002 to 2012.  They are also a part of the Motorists Insurance Group of companies which are a solid group of insurance companies that has been around since...

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NEA Life Insurance Review

NEA Life Insurance Review Pros: No Medical Exam on Group Plan– No physical exam is required (only health qualifying questions) for coverage amounts under $300,000. Unemployed Benefit– A nice added benefit is that the NEA Insurance Trust will pay your premiums for up to twelve months if you lose your job.  Family Plan– A spouse and dependent children are eligible for coverage. Issuing Company– Prudential Insurance Company of NJ is the life insurance company who issues the policy and is one of the top life insurance companies in the nation.  Instant Quotes– The NEA life insurance website is very user friendly and provides instant rates for all of their life insurance products. Cons: Expensive– For both the Group Term...

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Stonebridge Life Insurance Review

Stonebridge Life Insurance Review Pros: Financial Ratings– Stonebridge Life Insurance Company has an A+ (Superior) financial rating from A.M. Best and a 95 out of 100 Comdex ranking.  Convenient– Stonebridge Life offers no exam life insurance and accidental death policies which makes obtaining a life insurance policy quick and easy. Cons:  Expensive– Their rates are expensive compared to other no exam policies that are available (see table below).  Rates are only guaranteed for the first year on their term policy– Their 10 and 20 year term products only guarantee the rates for the first year compared to traditional level term policies that lock in the rate for the entire term. Bottom Line: Stonebridge Life Insurance Company is very highly...

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10-Year Level Term Life Insurance Review

10-Year Level Term Life Insurance Review Pros: Cheap– The ten year level term is the cheapest term length available (from the four most common term policy options of: 10, 15, 20 and 30 years).  Fixed rate– As with all the different term lengths, level term life insurance locks in the rate preventing any rate increases during the selected term.   No pre-payment penalty– A great feature of level term life insurance is the fact that you can cancel the policy anytime without penalty.  Conversion– Most level term life insurance policies now offer the option to convert your term policy into a permanent policy without a health exam or any medical questions. Cons: Duration may not be ideal for many people– ...

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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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Ameritas Life Insurance Review

Ameritas Life Insurance Review Pros: Variety of Products– Ameritas offers a wide range of products and services including: life insurance (term, universal, variable universal and whole), annuities, individual disability income insurance, group dental, vision and hearing care insurance, retirement plans, investments, mutual funds, asset management and public finance.  Tradition– Ameritas Life Insurance Company was established in 1887 as Old Line Bankers Life Insurance Company.  BBB Rating– Ameritas Life Insurance Corp was accredited by the Better Business Bureau in 1948 and has an A+ rating. Cons: There aren’t too many cons this company.  One this we found is that their term rates are typically not the cheapest available. Bottom Line:  Ameritas Life Insurance Corp (a member of the UNIFI Mutual...

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Grange Life Insurance Company Review

Grange Life Insurance Company Review Pros:  Rates– Grange Life Insurance Company offers some of the best rates in the entire nation.  Variety of Insurance Products– In addition to life insurance, Grange offers auto, home, business and even farm insurance. Some insured’s prefer to have all of their insurance policies in one place.    Cons: There aren’t too many cons with this company although their Comdex ranking is not as high as many of the other insurers we reviewed. Bottom Line: Grange Life Insurance Company is an excellent life insurance company.  They have some of absolute lowest rates in the entire country.  Grange is not known as a national company since they offer insurance only in these states: Georgia, Illinois,...

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Cheapest Life Insurance Companies by Term

Cheapest Life Insurance Companies for a 10, 15, 20 and 30 Year Term Searching for the cheapest life insurance companies by term length can be a daunting task if you don’t know where to look.  The reality is that most people overpay for their life insurance because they fail to compare the prices from the best life insurance companies 2014.  This article will show you which companies will offer the lowest prices for a particular term.  Who are the cheapest life insurance companies by term? Let’s take a look at the companies who offer the best prices by term length. Important note: Keep in mind that each life insurance has different underwriting guidelines and some companies are stricter in...

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Cheapest Life Insurance Companies for Healthy People

Cheapest Life Insurance Companies for Healthy People If you’re a healthy individual and in the market for life insurance, which insurers offer the best rates?  The answer will depend on many different factors such as your; age, build, family history, medication history, driving history, occupation, avocation and tobacco use.  The reality is there are over 900 life insurance companies and each one will underwrite and price you differently.  For the purposes of this article, let’s take a look at the sample rates & companies for a 40-year old male, in excellent health (top health class), for a $500,000 policy on a 20-year level term.  Click on each company for more information. Company A.M.Best Rating Annual  Monthly Policy Rating Class...

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Best Life Insurance Companies for Smokers

Best Life Insurance Companies for Smokers If you are a cigarette smoker and are searching for cheap life insurance than you came to the right place.  This article will show you some the best life insurance companies for smokers. Not all companies are the same Each life insurance company has their own underwriting guidelines and prices for a smoker.  Rates can vary drastically from one company to the next for the same coverage.  Therefore it’s imperative to shop around or use an independent agent to receive multiple rate quotes to ensure you find the best deal. Cheapest life insurance for smokers Let’s take a look at the sample rates for a 40-year old female, smoker, in excellent health looking...

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Cheapest Life Insurance Companies for a Cigar, Chew or Pipe Smoker

Cheapest Life Insurance Companies for a Cigar, Chew or Pipe Smoker If you are looking for information on the cheapest life insurance companies for a cigar, chew or pipe smoker then you came to the right place.  This article will show you how to receive the lowest price, even a non-tobacco rate, on your next life insurance policy if you consume smokeless tobacco.  Usage Cigars: If you are an occasional cigar smoker then you may still qualify for the best rating class depending on the number of cigars you smoke a year.  It’s important to be honest with your agent upfront so they can place you with the right company.  For example, some insures such as (AIG) American General...

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Liberty Mutual Life Insurance Review

Liberty Mutual Life Insurance Review Pros: Size- Liberty Mutual Insurance is the third largest property and casualty insurer in America and ranks at number 81 on the Fortune 500 list of the largest corporations in America.  Convenience- Many people prefer to have all of their insurance coverage’s with one company and Liberty Mutual makes it possible with their extensive insurance product line.  Local Agents- Liberty Mutual has agents based in the community which many people prefer. Cons: Liberty Mutual’s life insurance rates are expensive compared to what is available on the market. Bottom Line: Liberty Mutual is a top three auto and home insurer in America.  They have great brand recognition and are a financially stable insurance company.  However,...

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Minnesota Life Insurance Company (Securian) Review

Minnesota Life Insurance Company (Securian) Review Pros: Financial rating– Minnesota Life Insurance Company (the parent company of Securian Financial Group) has an A+ (Superior) A.M. Best Financial rating and a 93 out of 100 Comdex ranking.  Size and Stability– Founded in 1880, today Minnesota Life Insurance Company and Securian Financial Group affiliates have over 13 million customers and manage over $42 billion in assets.  Indexed Universal Life (IUL/EIUL) Product– Minnesota Life’s IUL/EIUL policy is a favorite for clients looking for a tax free income stream. Cons: There are not really any cons with Minnesota Life.  In comparing their rates they typically will not have the lowest rates. Bottom Line: Minnesota Life Insurance Company (Securian) is a superior rated life...

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USAA Life Insurance Company Review

(USAA) United Services Automobile Association Life Insurance Company Review Pros: Rating- USAA has a 99 out of 100 Comdex Ranking, meaning they nearly received a perfect financial rating from the top four U.S. insurance rating agencies. Size- USAA is a Fortune 500 company with over 10 million members.  Website- USAA’s website provides instant rate quotes and allows you to fill out an application online.  Loyalty- USAA is a member based organization to people and families that serve, or served in the United States Military. Cons: There aren’t too many cons with USAA.  In reviewing their rates, they are competitive but often there were other life insurers with cheaper rates. Bottom Line:  USAA is a top tier life insurance company with...

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Midland National Life Insurance Company Review

Midland National Life Insurance Company Review Pros: Rating- Midland National has an A+ (Superior) financial rating from A.M. Best and a 92 out of 100 Comdex score.  Longevity- Midland National was founded in 1906 with a long stable company history dating back to over 100 years.  Website-  Their website provide instant rate quotes without having to speak to anyone. Universal Life- Their universal life products offer some of the best rates in the entire country. Cons: They typically don’t offer the lowest prices on term life insurance (but they do for on universal life). Bottom Line: Midland National Life Insurance Company is a highly rated and financially strong life insurance company.  They have been around for over 100 years...

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Cincinnati Life Insurance Company Review

Cincinnati Life Insurance Company Review Pros: Pricing- Cincinnati Life Insurance Company often has some of the best rates in the country (See table below). Awards- Cincinnati Financial was named one of Forbes 2013 America’s Most Trustworthy Companies.  Also, they were one of Ward’s 50 Top Performing P&C Insurers in 2013. Cons: There aren’t too many cons with Cincinnati Life.  One issue could be their distribution model which is stricter than other top insurers making them unavailable with many independent agents. Bottom Line: Cincinnati Life Insurance Company is a top tier life company that will often have one of the absolute lowest rates in the entire nation in 2016.  However, since their rates are so good, their underwriting can be...

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Best Life Insurance Companies by Policy Amount

Choosing the right amount of life insurance coverage to protect your loved ones is imperative when selecting your policy.  Unfortunately, many people underestimate how much money their family would actually need to adequately maintain their current standard of living.  How much life insurance do I need? Many prominent financial planners recommend carrying anywhere from 5x to 20x your annual income in life insurance.  For example, someone making $75,000 a year income, who is married with two kids, has a $500,000 mortgage would ideally carry around $750,000 to $1,000,000 in coverage.  Should the main breadwinner pass away, the home will be paid off and there will still be enough money for the family to maintain their current standard of living...

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Mutual of Omaha Life Insurance Review

Mutual of Omaha Life Insurance Review 2016 Pros: Rates– Mutual of Omaha (United of Omaha) often has the lowest rates in the entire country for term life insurance in 2016. Size– Mutual of Omaha is a Fortune 500 company with total assets of $31 billion.  History and Stability– Mutual of Omaha was founded in 1909 and has an A+ (Superior) financial rating from A.M. Best in 2016. Underwriting– Mutual of Omaha has favorable underwriting in many categories including cholesterol and blood pressure.  Blood Pressure– Mutual of Omaha Life Insurance Company allows the best rate class, Preferred Plus, even if you’re taking blood pressure medication if your blood pressure is well controlled with ages 18-55 average reading 135/85 or better...

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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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Assurity Life Insurance Company Review

Assurity Life Insurance Company Review Pros:  Longevity- Assurity Life Insurance Company’s origins date back to the late 1800’s.  BBB rating- The Better Business Bureau accredited Assurity Life Insurance Company and gave it an A+ rating as well as a recent BBB Integrity Award.  No medical exam policy- Assurity Life has a popular no medical exam life insurance policy with coverage up to $350,000 and can be issued within 10 days or even sooner. Cons: While Assurity’s prices are competitive, other insurers may have lower pricing on certain products. (See the tables below) Bottom Line:  Assurity Life has been around for nearly 125 years and offers a wide range of financial products.  Their no medical exam life insurance policy is...

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