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About Pride Life Insurance
With the name Pride and the rainbow in their logo, the company’s focus on the needs of the LGBTQ community is made clear. They provide both individual and group plans, working with nonprofit and private companies, and catering policies for the market they serve. They also do a lot of advocacy work in their community.
Pride Life Insurance is headquartered in Baton Rouge, Louisiana. They are a newcomer to the life insurance market, founded in 2013.
According to the company website, Pride operates almost entirely on a referral basis. They operate both as an insurance company and as an agency, helping clients to find the products they need both directly and through affiliated companies. To this end, they offer a “concierge service”, which is essentially personal assistance offered by a representative of Pride Life, similar to what an independent agent might provide.
Pride Life Products
Pride Life Insurance offers two types of life insurance, both of which are relatively basic. The website offers very little in the way of details on these policies and instead offers a basic overview of each type and the needs they serve.
Term life insurance and guaranteed issue life are the two policy types listed. It is unclear whether or not Pride actually underwrites these policies, or if they are handled by an affiliate.
The website does not offer a list of term lengths, issue age range, or death benefit amounts for the term life products. Visitors to the site are directed to contact the company’s concierge service for further assistance.
The guaranteed issue life is a permanent plan, likely a whole life insurance policy, designed to provide some coverage for final expenses and other needs. These plans do not require a medical exam, and they are therefore marketed to those who have trouble getting coverage on a fully underwritten plan. The Pride site indicates that their guaranteed issue plan is available to clients that are HIV positive, a condition that may result in denial elsewhere.
Again, no details on the policies themselves are offered.
While health insurance is listed on the website, it actually links off to another health insurance shopping site that they partner with, Health Sherpa. Pride appears to offer the same personal concierge assistance with selecting a health insurance plan that is offered on their life insurance plans.
Pride’s online quoting service provides a list of comparison quotes from other companies, clearing up the question of whether or not they are actually an underwriter (they are not).
Among the companies listed for comparison are Protective Life, Banner Life, Ameritas, Assurity, and United of Omaha. Pride functions as a referral service, helping their customers to connect with other life insurance companies and select a policy.
We ran a quote for a 10-year term policy of $100,000, for a 30-year-old male non-smoker in California.
The least expensive quote returned was from Protective Life, where the monthly rate came to $7.14.
Because the rates returned are from different companies and for different products, a lot more research into each option is required in order to determine which policy offers the best value and which is right for each customer. Presumably, this is the service offered by Pride’s concierge assistance.
The fact that Pride does not underwrite directly explains the lack of detail on their policies – there are actually a large number of options offered by other companies.
Health Insurance quotes are offered through Health Sherpa, with which Pride acts as an agent. Options and costs for these policies will vary greatly from state to state and based on the person being insured. Health Sherpa is a part of the federal health insurance marketplace.
The Pride website does not offer online claims submission and, in fact, we found no mention of claims at all. There is a general customer service phone number as well as a contact form that can be submitted from the site.
This is not surprising given the very general nature of the website; detailed information is only obtained by speaking with a representative directly. Claims are handled by the underwriting company in most cases, so it may well be that Pride does not handle any claims processing at all. Since they do not appear to underwrite any products, they would also be unlikely to handle any claims.
Ratings and Consumer Reviews
We were unable to find a Better Business Bureau (BBB) record for Pride Life. This may be due to the fact that they are a new company, but with five years in business, we are surprised at the lack of a file. It may be that they are listed under a different name, however, we were unable to locate any evidence for this.
There are 15 Google reviews of Pride Life, with an overall 5-star rating. Many of the reviews appear to be not from customers directly, but from agents and employers that worked with Pride to help obtain coverage for others. Some reviews do appear to be direct from customers; all of the reviews are glowing and cite excellent service.
There is one review on Facebook, and again it’s a five-star rating.
What we were unable to find for this company was much in the way of actual product reviews, but overall they appear to have an excellent reputation for customer service.
The Bottom Line
There is a general lack of information in terms of what precisely this company offers; it is unclear whether or not they underwrite products or are only an agency. Since they operate mainly on referrals, it is likely that customers come to them knowing what to expect, and from the reviews we have seen, their customer service is very good. They are worth contacting for anyone who needs assistance with life or health insurance and is seeking an LGBTQ-friendly company.
For a list of companies that we recommend, visit our Best Insurance Companies page.