February, 26 2017

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Motorists Life Insurance Company Review

Motorists Life Insurance Company Review

Author
  • Price
  • Financial Strength

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 1928.  However, when comparing their premium rates and A.M. Best Rating, they may be other insurers that are more competitive. As with all the companies we review, we recommend that you receive a quote and talk to an agent from Motorists Life and then also compare it with the other top life insurers as well to make sure you are getting the best deal.

About

Type: Privately Held

Issued by: Motorists Life Insurance Company

Website: motoristslife.com

Phone: (888) 876-6542

Address: 471 East Broad Street, Columbus, OH 43215

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

Comdex Ranking: 57 out of 100

BBB Rating: A+

Life Insurance Products: Term life, whole life and annuity products.

States Operate In: Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, Wisconsin.

Competitors: Banner Life, Protective Life, American General Life, Genworth Life, Cincinnati Life, Ohio National Life, New York Life, Northwestern Mutual, MassMutual, Grange Life Insurance Company, Symetra Life Insurance Company, Mutual of Omaha, John Hancock, PennMutual, Principal, State Farm, Farmers, Allstate, Primerica, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, TIAA-CREF, Guardian, OneAmerica, Minnesota Life, RiverSource, Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Sagicor, Amica, ANICO, Assurity, Colonial Penn, AARP, Globe Life.

The Motorists Insurance Group

The Motorists Insurance Group is composed of ten companies, serving 17 states, primarily in the Midwest region. Companies include: Motorists Mutual Insurance Company, Motorists Life Insurance Company, Broad Street Brokerage, MICO Insurance Company, Iowa Mutual Insurance Company, Iowa American Insurance Company, Wilson Mutual Insurance Company and Phenix Mutual Fire Insurance Company.

Price Comparison

Sample rates for a $250,000 policy on a 10-year term at each company’s best health class, for a 40 year old male, non-smoker.

AgeMotorists Life Pacific LifeBanner LifeTransamerica Life
40$58.87$44.59$47.91$49;66

What is your experience with Motorists 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
Motorists Life Insurance Company
Author Rating
3