March, 25 2017

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William Penn Life Insurance Company Review

William Penn Life Insurance Company Review

Author
  • Price
  • Financial Strength
  • Underwriting

William Penn Life Insurance Company Review

 

Pros: Rates– William Penn will typically be in the top 5 lowest priced life insurers in the state of New York, especially for healthy people and those with diabetes or significant health conditions. Table Rates (Substandard)-William Penn uses a standard plus table rate, meaning those in below average health or those that are above normal on the build chart can qualify for lower rates. Rating– William Penn has an A+ (Superior) A.M. Best financial rating and an 94 out of 100 Comdex score making them a top insurer just like their sister company Banner Life. History– William Penn is a subsidiary of Legal & General which has been in business since the 1830’s.

Cons: There aren’t too many cons with William Penn, just make sure to compare rates to make sure they are the best priced for you.

Bottom Line: William Penn Life Insurance Company of New York, a subsidiary of Legal & General which is one of the world’s largest insurance and investment companies that has been around since 1836, is a top tier life insurance company. William Penn is highly rated by the preeminent rating agency A.M. Best and offers some of the lowest rates in NY. If you are looking for life insurance in New York, then William Penn is a company that you need to take a look at.

 

About

Founded: 1836 (Legal & General)

Underwritten by: William Penn Life Insurance Company of New York

Rating 2015: A+ Superior by A.M. Best

Comdex Ranking: 94 out of 100

Website: www.lgamerica.com

Phone: (516) 794-3700

Address: 100 Quentin Roosevelt Blvd, Garden City, NY 11530

BBB Rating: NA

Competitors: New York Life, MetLife, Northwestern Mutual, Prudential, MassMutual, TIAA-CREF, John Hancock, State Farm, Allstate, Nationwide, Farmers, Principal, US Life, Companion Life Insurance Company of NY (Mutual of Omaha), AARP, Voya Financial, USAA, Symetra Life, Lincoln Life, AXA, Securian.

Price Comparisons

Here are a few sample prices for a 50 year female for $500,000, 20 year level term at the best health class in New York.

 

AmountWilliam PennTIAA-CREFAXAPrudential
$500,000$64.75$70.44$75.69$76.95

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