Equitable Life Insurance Review & Complaints: Life & Medical Supplement Insurance

Equitable Life and Casualty Insurance Company provides Equitable Life Medicare Supplement and life insurance plans. The Better Business Bureau has an A+ Equitable Life insurance rating. You can't find Equitable Life Insurance quotes online, but you can contact an insurance agent online to get estimates for Equitable Life Insurance rates.

Are you looking for free insurance quotes?

 Secured with SHA-256 Encryption

Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

Full Bio →

Written by

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

Full Bio →

Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: May 13, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

Equitable Life & Casualty

Premiums
Claims
Feedback
Financial Strength



Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

 Secured with SHA-256 Encryption

Born out of efforts to form benevolent societies for Utah’s low-income mining communities in the 1930s, Equitable Life & Casualty Insurance Company has grown beyond its roots as a coal mining firm to become a force in the senior life and health market. They offer life insurance as well as Medicare Supplement and other supplemental products to consumers across the country.

If you’re considering Equitable Life Insurance Company, our Equitable Life Insurance review has the information you need. Before you start, compare life insurance rates right now by entering your ZIP code above.

Who is the Equitable Life & Casualty Insurance Company?

The Equitable Life & Casualty Insurance Company was formed in 1935 out of a group of benevolent societies that had been created a few years before to assist the families of poor miners financially after the death of a society member that caused a significant impact. Founded by a local doctor, the original name of the company upon its launch was Equitable Mutual Aid Protective Society, and each consumer paid into the society so that the funds could be distributed when needed. This industry scenario may sound antiquated but, it actually isn’t much different than the current structure of the insurance market.

In the 1960s, Equitable was among the first to offer Medicare Supplement coverage in response to the gaps in the newly created Medicare system. From that point on, the company focused on the needs of seniors, and over the decades added new products to assist with things like home care and nursing homes. These days, they still work hard to champion the experience of older consumers and this approach allows them to offer an enhanced degree of care to the people who need it most.

Equitable moved into third-party administration in 2009, and now administers policies for several other companies. They are licensed in 45 states, but their headquarters remain in Salt Lake City, Utah. Equitable Life Insurance Company stock is sold on the open market.

Equitable Life Insurance contact information is found on the website, including the Equitable Life Insurance phone number. There you can also use your Equitable Life Insurance login to view your policies.

Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

 Secured with SHA-256 Encryption

Your one-stop online insurance guide. Get free quotes now!

 Secured with SHA-256 Encryption

What Equitable Life Insurance products are available?

Equitable’s main products are Medicare Supplement and life insurance, although they also offer a few other supplemental policies. We have reviewed Equitable Life Medicare Supplement products separately, so this review will focus on their other offerings.

Life Insurance

Equitable’s Heritage Protector Plans are offered in two forms, Level and Graded.

The Level plan provides the full death benefit from the first day of issue, while the Graded plan offers increasing benefits. Under the latter, if the insured dies in the first 12 months of issue, all premiums plus 5% are paid to the beneficiary. In the second 12 months, the payout is all premiums plus 10%, and in the third year, 75% of the death benefit will be paid. After 36 months, the plan becomes level and the full death benefit is paid.

Heritage Protector plans are offered with an issue age of 50 through 85, with death benefits ranging from $2,000 to $35,000. These plans are intended to provide coverage for final expenses. While the website does not specifically state whether or not they require a medical exam, this type of policy usually does not. The lower death benefit indicates a simplified issue program.

CancerCare

The company’s CancerCare plan is a cancer-specific plan that provides coverage for those with a cancer diagnosis. The plan covers a variety of expenses that are not paid by the main health insurance to any degree. This is a great option for someone with this diagnosis, as most insurance companies aren’t willing to work with people based on the high level of risk associated with cancer.

Plan benefits include an initial diagnosis payout of $1,000 to be used in any way the insured wants, coverage for overnight hospital stays, and coverage for a wide variety of inpatient and outpatient treatment. Also covered are things like transportation service, including ambulance rides, to and from the hospital, and inpatient hospice for terminally ill patients.

EquiCash

EquiCash is a hospital indemnity plan that provides coverage for out-of-pocket costs associated with inpatient hospital stays. The plan pays what your health insurance does not.

EquiCash is offered at three plan levels: Bronze, Silver, and Gold. Each level offers increasing amounts of coverage to fit each scenario in which a consumer may rely on this kind of coverage. All levels have a daily hospital indemnity benefit, coverage for durable medical equipment and ambulance charges, emergency room and physician benefits. An optional lump sum cancer rider can be added at any level.

EquiCare

EquiCare is the company’s short-stay nursing home policy. This nursing home benefit can be tailored to a variety of levels and this approach helps you to get what you need at an insurance premium you can afford.

Daily cash benefits start at $50 and go up to $300 with benefit periods ranging from 100 to 350 days. This plan is designed to pay for the cost of a nursing home stay of less than one year, and not for long-term care.

What are Equitable Life Insurance rates?

Equitable does not offer online quoting or any rate information. There is a form that can be filled out to have a representative contact you for further information on life insurance options and quotes. This type of form is common for a company like Equitable but often leads to unwanted, ongoing email solicitation attempts, which many people prefer to avoid.

It would be helpful to see online quoting available at least for the company’s life insurance products, so that an internet user didn’t have to run the risk of a barrage of unwanted spam email filling up their inbox.

How is the Equitable Life Insurance claims process?

Equitable offers several ways to start a claim. There is an email form that can be filled out and submitted to start the process, although this is not true online claims reporting as it simply leads to a representative contacting the insured to handle the claim.

There is also a toll-free number, although it is only open during business hours from 7:00 am to 5:30 pm. This is common for a company where claims are not often filed on an emergency basis, such as with home insurance or auto insurance.

Finally, claims forms can be found on the website and either mailed or faxed to the company.

Overall, they do make it easy to find claims information and to contact the company. There is no information, however, on the claims process or what to expect.

Your one-stop online insurance guide. Get free quotes now!

 Secured with SHA-256 Encryption

What do Equitable Life Insurance ratings and consumer reviews say?

Equitable has an A+ rating with the Better Business Bureau (BBB), and there are only three consumer complaints on file in the past three years. Two of those were closed in the past 12 month time period. For a nationwide company of this size, this is quite a low number of complaints.

Equitable has been rated three times on Google Reviews, but only one customer wrote a full review, in which the company was praised for excellent service. The overall rating is 4.3 stars but again is based only on three ratings with not many customer statements.

We were unable to find any reviews of this company on the usual consumer websites, which is usually a good sign, particularly with a low complaint volume at the BBB and the presence of a few positive reviews.

What is the bottom line?

Equitable caters to seniors and has been focused on that market for a long time, so their products and expertise are likely to appeal to many. Although there are no red flags, it is difficult to compare this company to others without rate information. They are worth getting a quote from for those who are willing to go through the process of direct contact rather than obtaining their quotes online.

Now that you’ve made it through our Equitable Life Insurance review, enter your ZIP code and find out how cheap life insurance can be.

Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

 Secured with SHA-256 Encryption

Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

 Secured with SHA-256 Encryption