November, 24 2017

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Life insurance reviews, news and prices from the top companies

FEGLI Life Insurance Review

(FEGLI) Federal Employees’ Group Life Insurance Review Pros:  No medical exam or health questions- FEGLI is very convenient since there isn’t any medical underwriting.  This makes it a perfect option for those who are uninsurable on the open market.  Also, the convenience of having premiums drawn directly from the paycheck is another convenience many prefer.  Free coverage after age 65- If the insured keeps the Basic coverage into retirement they are eligible for the 75% reduction option.  Coverage will gradually reduce down to 25% of the original basic benefit and will last the rest of the insured’s life free of charge (no cost after the age of 65).  This is a great way to cover final expenses for no...

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Guardian Life Insurance Company Review

Guardian Life Insurance Company Review Pros: Financial Rating- Guardian Life Insurance Company has the best financial rating available from A.M. Best A++ (Superior).  In fact, they have a 98 Comdex score which means they received a near perfect rating from the four major rating agencies.  Size- Guardian Life is one top life insurance companies in America by market share and one of the nation’s largest corporations earning a spot as a Fortune 300 list.  Mutual Company- Guardian is a mutual insurer which some people prefer. Cons: Guardian’s rates are often higher than other insurers, even those in the same superior A.M. Best rating category.  Also, their underwriting guidelines can be very conservative which can lead to higher premiums. Bottom...

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Nationwide Life Insurance Company Review

Nationwide Life Insurance Company Review Pros: Financial Strength- Nationwide has an A+ (Superior) financial rating from the top rating agency A.M. Best and a Comdex rating of 91 which means they received excellent ratings from the four main rating agencies.  Prices- In 2014, Nationwide has very competitive prices on their life insurance products, especially their term life insurance. Size and brand recognition- Nationwide is a Fortune 100 company and a household name which can be attributed to their popular adverting campaigns.  Location- Nationwide still has brick and mortar offices around the country which some people prefer. Cons: There aren’t too many cons with Nationwide.  One potential downside some may encounter will be their underwriting.  In reviewing their underwriting guidelines...

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Penn Mutual Life Insurance Review

Penn Mutual Life Insurance Review Pros: Financial Strength- Penn Mutual was awarded an A+ (Superior) financial rating from A.M. Best. In fact, as a further testament to their financial strength Penn Mutual was one of only 15 life-health insurers that has maintained an A.M. Best Financial Strength Rating of “A” or higher for at least 75 years according to Best’s Review 2008, July issue.  History- Penn Mutual has a long stable tradition as it founded more than 165 years ago in 1847.  Prices- Penn Mutual rates are very competitive on many of their life insurance products. Cons: There aren’t too many cons with Penn Mutual.  A potential issue for some could be their underwriting.  As with most mutual insurance...

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Ohio National Life Insurance Review

Ohio National Life Insurance Company Review Pros: Price: Ohio National often has the absolute lowest rates in the nation.  Out of 900+ life insurance companies Ohio National is often at the #1 spot with the best price.  Financial Strength- Ohio National is A+ (Superior) rated by A.M. Best.  Stability- Ohio National has been insuring families for over 100 years. Cons: A potential issue for some will be their underwriting. Since Ohio National’s prices are so low, their underwriting tends to be fairly conservative which can ultimately lead to a higher price after the medical exam and underwriting process is complete. Bottom Line:  Ohio National is one of the best life insurance companies in the country, bar none.  Their rates...

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Pacific Life Insurance Company Review

Pacific Life Insurance Company Review Pros: Financial Rating- Pacific Life is highly rated as having received an A+ (Superior) grade from the preeminent rating agency A.M. Best. Prices- Pacific Life has some of the lowest rates in the nation in many categories including smoker/tobacco users.  Sales of permanent products- Pacific Life was #1 in indexed universal life insurance (IUL) sales in 2010-2012. Cons: There aren’t too many cons with Pacific Life currently. Bottom Line: Pacific Life is a top tier life insurance company with a long stable tradition of more than 140 years.  Today they are one of the nation’s largest insurance companies and ranked on the Fortune 500 list at 369th largest corporation in America.  They are dominant...

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OneAmerica (American United Life Insurance Company) Review

OneAmerica (American United Life Insurance Company) Review Pros: Financial rating- OneAmerica has an A+ (Superior) rating from A.M. Best and a Comdex score of 96.  Products and Services- OneAmerica and its companies offer a wide range of life insurance and financial service products. Price- OneAmerica is very competitively priced in certain niches.  They also have an A+ rating from the BBB. Cons: A potential con is that OneAmerica and its life insurance companies such as American United Life are not yet household names like MetLife or Prudential. Bottom Line: OneAmerica is a highly rated life insurance company that offers a wide range of life insurance and financial products.  They’re rates are very competitive in certain niches as can be...

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Best Rated Life Insurance Companies 2015

If you’re in the market for life insurance it’s imperative that you check the insurance company’s A.M. Best financial rating before moving forward with an application.  A.M Best is the preeminent life insurance rating agency in America and their letter grade will allow you to quickly asses the insurer’s ability to meet its future obligations.  A.M. Best uses a ratings scale to gauge an insurer’s financial strength with A++ (Superior) being the best rating and going all the way down to an S grade for (Suspended).  A general rule of thumb is to choose an insurer with an A (Excellent) rating or better for fully-underwritten policies and an A- (Excellent) for no-medical exam policies.   More on the A.M....

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Sagicor Life Insurance Company Review 2016

Sagicor Life Insurance Company Review 2016 Pros: Sagicor will typically have the some of the best no medical exam life insurance (simplified issue) rates in the country for a healthy person in 2016.  Also, their no medical exam rates for a smoker are typically the lowest as well.  Sagicor offers term life, no-lapse universal life and a whole life policy all with the option of bypassing the medical exam for a brief telephone interview.  Their no medical exam underwriting is fair, especially compared to the other insurers offering no exam coverage. Cons: Sagicor is not a well-known life insurance company here in America as they are in the rest of the world. Bottom Line:  If you are looking no...

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$5,000,000 Life Insurance– Best Companies and Prices

$5,000,000 of life insurance may sound like a lot of coverage for most people, but for some this the right amount of protection that is needed to adequately protect their loved ones.  When choosing a policy for $5,000,000 life insurance-best companies and prices will give you peace of mind knowing that you are with a highly rated company and are paying an affordable premium. Choosing the right policy Many financial advisors recommend anywhere from 5 to 20 times one’s annual income in life insurance coverage.  This is to replace the insured’s salary and to pay off any outstanding debts such as the mortgage if they were to pass away prematurely.  Additional common needs for a 5 million life insurance...

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Best Life Insurance Companies for High Cholesterol in 2015

The best life insurance companies in 2015 for someone with high cholesterol offer cheaper rates and view the risk more favorably than other life insurers. According to the CDC, about 33% which equates to 71 million of adults in the United States have high levels of bad cholesterol.  Nearly half of those with high cholesterol are receiving treatment and only 23 million have their cholesterol levels in check. The health problems that can result from having high cholesterol are numerous and can be very dangerous. These include the elevated risk of heart disease, stroke, high blood pressure and diabetes.  Since life insurance rates are determined by the health of the applicant-i.e. the risk to the insurance company, having high...

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AXA Equitable Life Insurance Review 2016

AXA Equitable Life Insurance Review 2016 Pros: Financial Strength– AXA Equitable Life Insurance Company is A+ (Superior) rated in 2016, second highest of 16 possible ratings.  Global Strength– AXA Group is one of the largest insurance and wealth management organizations in the world with AXA Equitable having over $519.3 billion in assets under management.  Local Agents– AXA Life Insurance distribution channel is through local agents and not online which some people prefer when purchasing insurance.  Unique policy offering– In addition to offering the traditional policies they have a one-year non-renewable convertible term product who individuals who only need a policy temporary coverage immediately. Cons: There are not too many cons with AXA Equitable Life Insurance Company.  AXA currently doesn’t...

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(SBLI) Life Insurance Review 2017

(SBLI) The Savings Bank Life Insurance Company of Massachusetts Life Insurance Review 2017 Pros:  Stability– SBLI has been in business for over 100 years since 1907 and protected over one million families.  No Exam Life Insurance– SBLI has one of the best no medical exam life insurance on the market in 2017. It never requires a health exam and the underwriting time is often very quick. Competitive Term Life Insurance Rates– SBLI’s rates often very competitive, especially with their no exam term life insurance policy. Rating– SBLI has an A (Excellent) rating from A.M. Best. Cons:  There aren’t too many cons with SBLI. Bottom Line:  SBLI (Savings Bank Life Insurance Company) has been in business for over 100 years...

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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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Northwestern Mutual Life Insurance Review 2017

Northwestern Mutual Life Insurance Review 2017 Pros:  Financial strength– Northwestern Mutual has the highest rating available possible from each of the four major rating agencies, a perfect 100 out of 100 Comdex score, which is extremely rare in 2017. Also Northwestern Mutual was one of the top insures who did not need to accept bail out money during the financial crisis in 2008-2009.  History– NW Mutual is also one of the largest and most storied insurance companies in America and have been around since 1857. Dividends- Northwestern Mutual paid out $5.6 billion in dividends in 2015/2016. Claims– Northwestern Mutual paid out $3.9 billion in life disability and long term care claims in 2015. Cons:  As with the other A++...

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ING ReliaStar Life Insurance Review

ING (Now Voya Financial) ReliaStar Life Insurance Review– Voya Financial Life Insurance Review 2015 Pros:  ING (Voya Financial) is one of the largest life insurance companies in America and a top five writer of term life.  VOYA also has favorable underwriting niches, such as family history of cancer, where they offer some of the lowest rates in the nation. They will typically have the lowest prices on $200,000 policies.  Also, for seniors over 60, ReliaStar offers very competitive underwriting for diabetics and blood pressure treatment. Cons: ING no longer offers a 25 & 30-year term life policy.  Bottom Line:  ING (now Voya Financial-ReliaStar Life Insurance) is a top 5 term life insurance company with an “A” (Excellent) rating by...

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Protective Life Insurance Company Review 2017

Protective Life Insurance Company Review 2017   Pros:  Protective Life has some of the best rates in the entire country in 2017 on term and universal life insurance.  You can often purchase a lot more life insurance to protect your family through Protective vs. other insures.  Protective is rated in the highest category “Superior” by the top rating agency A.M. Best.  Protective Life also is very stable with a rich tradition as they’ve been around for over 100 years.  Although they may not be a household name, Protective Life one of the largest life insurance companies in America as far as market share in 2017.  Protective Life Insurance Company offers a unique term life insurance policy in that when...

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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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Western Southern Life Insurance Company Review

Western Southern Life Insurance Company Review Pros:  Western & Southern Life is highly rated- A+ Superior by A.M. Best (second highest of 16 ratings) with a Comdex score of 97 out of a possible 100.  They also have a great reputation for excellent customer service.  W&S Life has stability as they were established more than 125 years ago.  W&S also follows the face-to-face sales model which some people prefer. Cons:  Western & Southern Life’s term rates are often more expensive compared to what is available elsewhere, also underwriting can be strict sometimes which can pose additional problems for applicants. Bottom Line:  Western & Southern is highly rated life insurance company with an excellent customer service ranking.  You can feel...

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