July, 26 2017

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Pan-American Life Insurance Company Review

Pan-American Life Insurance Company Review

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Pan-American Life Insurance Company Review

Pros: History– Pan-American Life has been in business for over 100 years demonstrating a track record of stability.  Strong Latin America Presence– Pan-American is one of the leading underwriters in Latin America and the Caribbean.  Hispanic Community– Pan-American Life is ranked number eleven on HispanicBusiness 100 list of the largest Hispanic businesses in the United States.

Cons: Their term life insurance rates are not the least expensive available (see the price comparison table below).

Bottom Line: Pan-American Life is a strong insurance company as it has been around for over one hundred years with an A (Excellent) financial rating by A.M. Best in 2014.  While Pan-American Life Insurance Company may not be a household name in the United States, the New Orleans based insurance company does have a strong presence in Latin America and the Caribbean.  In 2014, Pan-America Life ranked number one on the HispanicBusiness 100 list of companies in the financial sector as seventy percent of their overall company employees are Hispanic.  However, when comparing their rates they did not have the lowest prices available.  As we suggest with every insurer we review, we recommend that you receive a quote from Pan-American Life but also compare it to the other top life insurance companies and choose the best company for you.

About

Type: Privately Held

Issued by: Pan-American Life Insurance Company

Website: palig.com

Phone: (877) 939-4550

Address: 601 Poydras Street, New Orleans, LA 70130

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

Comdex Ranking: 79 out of 100

BBB Rating: A+

Life Insurance Products: Term Life Insurance, Universal Life, NexGenUL, Group and Annuity Insurances.

States Operate In: Licensed in 47 states and the District of Columbia

Competitors: 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, State Farm, Farmers, Allstate, 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, Ohio National Life Group, New York Life, Northwestern Mutual, 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.

AgePan-AmericanProtective Life Banner LifeMassMutual
40$32.19$23.08$23.63$35.67

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

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Scott
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