September, 25 2017

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Columbian Life Insurance Company Review

Columbian Life Insurance Company Review

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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 offers a wide range of life insurance products including: term life, universal life, whole life, preneed, and final expense plans.  We did notice their term life insurance rates were not as competitive in comparison to other highly rated insurers.  As with all the life insurance companies we review, we recommend that you receive a quote from Columbian Life Insurance Company and from the other top life insurance companies and choose the best policy for you.

 

About

Type: Mutual

Goes by: Columbian Life Insurance Company, Columbian, Mutual Life Insurance Company, Columbian Financial Group

Founded: 1882

Website: cfglife.com

Phone: (800) 423-9765

Address: 4704 Vestal Parkway East, Binghamton, NY 13902

A.M Best Rating: A- (Excellent) Fourth highest of 16 possible ratings

Comdex Ranking: 74 out of 100

BBB Rating: A+  

States: All 50 states and the District of Columbia

Life Insurance Products: Term Life Insurance, Whole Life Insurance, Universal Life Insurance, Preneed and Final Expense.

Competitors: Baltimore Life, Security Mutual Life, SBLI,Foresters, 5 Star Life Insurance Company, Oxford, Americo, United Home Life, Monumental,Funeral Advantage, Standard Life, State Farm, Farmers, Allstate, Nationwide, 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 10-year term at each company’s standard health class, for a 40-year old male, non-smoker.

AgeColumbian LifeMetLifeUnited of OmahaNationwide
$38.36$23.99$23.41$30.26

 

 

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

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