March, 24 2017

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Physicians Mutual Life Insurance Review

Physicians Mutual Life Insurance Review

Author
  • Price
  • Financial Strength

Physicians Mutual Life Insurance Review 2016

Pros: History– Physicians Mutual Insurance Company was founded in 1902 and in 1970, Physicians Insurance Company was established to offer life insurance.  Claims– Physicians Mutual Insurance Company pays out over $302 million in claims annually while Physicians Life Insurance Company pays out $125 million in claims annually.  Customer Service– Physicians Mutual received a 97% customer stratification score from a 2010 survey conducted by Weise Research Associates.

Cons: Pricing– Their rates are not the most competitive with some of the other top life insurers on the market. (See price comparison below)

Bottom Line: Physicians Mutual Insurance Company has been around since the turn of the century in 1902.  Physicians Mutual is an A (Excellent) rated insurance company by A.M. Best in 2016 and Physicians Life Insurance Company pays out $125 million in claims annually.  However, when comparing their term life insurance rates to some of the other top life insurer available on the market they were not the least expensive available.  As with all the life insurance companies we review, we recommend that you receive a quote from Physicians Life Insurance Company and from the other top carriers and choose the best policy and company for you.

About

Type: Privately Held

Issued by: Physicians Life Insurance Company

Founded: 1902

Website: physiciansmutual.com

Phone: (800) 228-9100

Address: 2600 Dodge St, Omaha, NE, 68131

A.M Best Rating 2016: A (Excellent) Third highest of 16 possible ratings

Comdex Ranking: NA

BBB Rating: A+

Life Insurance Products: Term Life Insurance (Term Life and High Benefit Term Life), Whole Life Insurance (Guaranteed Whole Life and High Benefit Whole Life) Funeral Pre-Planning and Annuities.

Competitors: Columbus Life Insurance Company, AMA Life Insurance, PennMutual, MetLife, Assurity, Western National Life Insurance Company, Pacific Life Insurance Company, Nationwide, Globe Life Insurance, UNUM, Mutual of Omaha Insurance Company, Northwestern Mutual Life Insurance, New York Life, TIAA-CREF, MassMutual, Country Financial, Liberty Mutual, John Hancock, Ohio National Life, Principal, State Farm, Farmers, Allstate, American General Life-AIG, Banner Life, Protective Life, Primerica, Genworth Life, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, ANICO, TIAA-CREF, Securian, Guardian, OneAmerica, Sagicor, Amica, Minnesota Life, RiverSource, Allianz Life Insurance Company, AAA, Erie, Thrivent Financial for Lutherans, EMC National Life, Motorists Life, Pan-American Life, National Life Group, Shelter, HoraceMann, Group Life Insurance, Supplemental Life Insurance, Aflac, Voluntary Life Insurance, Baltimore Life, Security Mutual Life, SBLI,Foresters, 5 Star Life Insurance Company, Oxford, Americo, United Home Life, Monumental, Funeral Advantage, Standard Life, Colonial Penn, AARP.


Price Comparison

Sample rates for a $250,000 policy on a 20-year term at each company’s best health class, for a 40-year old male, non-smoker (updated 2016).

AgePhysicians LifeMetLifeMutual of OmahaAIG
40$24.37$21.51$19.91$20.02

 

 

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