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Minnesota Life Insurance Review

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UPDATED: Nov 30, 2018

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Minnesota Life Insurance
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With more than 125 years in business, Minnesota Life has grown to become part of a larger financial services group serving more than 15 million people across America. Minnesota Life pioneered flexible life insurance, and continues to offer a range of insurance products for both individuals and businesses.

Minnesota Life Summary

Minnesota Life was founded in 1880 in St. Paul, Minnesota as the Banker’s Association of Minnesota. The company expanded quickly and their Adjustable Life policy was one of the first options for flexible life insurance coverage. Their success was followed by a name change to Minnesota Mutual and a move to a large office building in St. Paul in 1982.

In the late 90s, Minnesota Life adopted the name Securian, but it wasn’t until 2005 that they re-branded to use the name as an umbrella brand for the entire group of affiliated companies. Minnesota Life still operates under its own name, but under the Securian banner.

Minnesota Life writes a variety of individual life insurance and annuity products, as well as group life insurance and retirement planning products. All of these are sold through agents and brokers across the nation.

Insurance Products

The following book of Minnesota Life products are all aimed at helping with long-term financial planning.

Life Insurance

Minnesota Life writes several types of life insurance policy in both term and permanent formats.

Term life is available in a range of term lengths, and includes the option to convert the policy to permanent life insurance, at certain intervals throughout the term. This coverage is designed to provide a large death benefit during the years when it is most needed.

Permanent life insurance is available in several forms:

  • Whole Life – a standard permanent life insurance policy that has stable premiums and a cash value account
  • Universal Life – which provides all of the benefits of a whole life policy along with the option to choose flexible premiums
  • Indexed Life – an investment option using an index account
  • Variable Universal Life – which offers the benefits of a regular Universal policy along with investment in various accounts that can include stocks, bonds, and more
  • Fixed Universal Life – offers a reliable cash value growth with a fixed interest rate. This policy provides flexibility and stability.

Annuities

Minnesota Life offers both immediate and deferred annuities. Both fixed and variable deferred options are available. These products are designed to provide income either now or in the future upon retirement.

Group Life Insurance

In partnership with Securian Life, Minnesota Life offers a range of group life insurance and related coverage options for businesses.

These options include:

  • Group Term Life
  • Group Universal Life
  • Variable Universal Group Life
  • Accidental Death and Dismemberment
  • Business Travel Accident

Policies may be issued by either Minnesota Life or Securian Life.

Additional Products

Financial Institution Coverage

The company also has a suite of products designed specifically for the needs of financial institutions. These are issued by Minnesota Life in every state except New York, where Securian issues them instead.

Minnesota Life Rates

Minnesota Life does not offer online quoting, therefore we are unable to compare their rates to other companies. All quotes are obtained through an agent or broker, and that means policies will include their commissions, which generally adds a little cost.

While we are unable to obtain a rate for comparison, we can say that this company has a lot of policies in force, which means they certainly have had no trouble selling their products, regardless of cost. That said, traditionally, this sort of life and financial services company does not offer the most affordable policies. They aren’t targeting the budget insurance market; rather they are largely aimed at people who get insurance through work or will take the advice of an agent on what to buy over shopping around independently. As a result, they may not feel the need to be competitive in terms of rates.

Claims

Minnesota Life claims are processed through the Securian Benefits Center. They offer an online claims reporting system for a variety of different products. Claims status can also be viewed easily online.

Minnesota Life also has a number of other methods of contacting the claims department, including by phone, fax, email, and even by mail. Contact information differs based on where the product was purchased, with different departments handling benefits purchased through an employer, through a financial institution, or through and individual agent/broker.

Not surprisingly for the type of product Minnesota Life writes, there is little information available regarding claims procedures.

Consumer Research and Complaints

Minnesota Life is rated by the BBB under the Securian name. Securian has an A+ rating and has been BBB accredited since 1996. There are a total of 22 complaints in the past three years, seven of which were closed in the past 12 months. Those numbers are very low for a company as large as this one.

There are a few complaints against Minnesota Life on various websites, citing trouble with claims and with slow response or benefits being cut or denied. These complaints aren’t numerous; there are certainly not enough of them to raise any major red flags. They are also scattered over many years rather than many recent complaints, which again makes them less concerning overall.

Financial Strength

Rating Company Grade Financial Outlook
AM Best A+ Stable
Fitch AA N/A
S&P A+ N/A

Bottom Line

Minnesota Life is a very old company with a strong financial background, which makes them a pretty safe bet particularly for financial products. Their products are most likely to appeal to those who are being offered the option to purchase through an employer.

When it comes to individual insurance, there is a long list of companies who make it easier to obtain a quote, easier to apply for and get a policy, and will likely offer a better premium. For an individual shopping for life insurance, Minnesota Life is not likely to be on the top of your list due to the lack of easily obtained comparison quotes.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

Summary
Review Date
Reviewed
Minnesota Life
Author Rating
21star1stargraygraygray

About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My 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.

50 Comments

  1. This is a crooked company. Help shut them down.

    Do not give them any more premiums.

    Reply
    • I had them on a truck loan; they were supposed to pay 6 months if I got ill.

      I had cancer, and they refused to pay my claim, said my cancer was pre-existing.

      I never had cancer before, they caused us to file bankruptcy.

      I will never deal with them again, my credit is ruined now…

      never deal with them again…

      Reply
      • See, that is awful. Just keep telling Everyone how bad they are.

        We need to stop people from giving any money to this Company.

        Reply
  2. Who do I file a complaint with?

    I took out a Minn Life policy in 2002 (My age was 62) for 100,000 when the premium was 60.30 per month and never saw anywhere that the premiums would increase to this level.

    I believe the company was called Hartford then.

    For 2020 the premium will be 603.60 per month. I am 79 years of age.

    I have paid a fortune in premiums and now this??

    Minn Life I believe wants me to drop the policy.

    Or they figure I have just a few years left to live and they are getting as much as possible before I die.

    They are crooks and someone needs to check them out. This is fraud at its highest.

    Please tell me what to do. Do I need an attorney?

    Reply
    • Contact the Department of Insurance and find out how to file a complaint.

      You may have to fill out a form.

      Again, if we all work together this company can be stopped.

      They are nothing but a greedy insurance company out to take your money.

      DO NOT LET THEM TAKE ADVANTAGE OF YOU!!!

      Reply
  3. Securian Life has been accepting payments from me and then sending me letters saying that I have not paid and that my account will lapse.

    They have overcharged me this year and don’t record my payments properly.

    I am getting sick of these threatening letters and from the reviews, I don’t have any confidence in this company that they are insuring me with confidence.

    Reply
    • Cancel your policy.

      Believe me when I tell you they will not pay your claim.

      Please save yourself. Do not pay them any more money.

      Save your money somewhere else.

      Reply
  4. NEVER USE THIS COMPANY!! I was sold a variable life insurance policy (as a single female with no kids) as a “tax shelter” by my (former) financial advisor.

    I have spent the last 3 years trying to find a way out of it.

    It has been the biggest nightmare of my financial life and the biggest “financial rape” I have ever experienced.

    Just to give you a small example (as I still have not gotten out of it yet) I found way to transfer my funds to an annuity without taking tax penalty or surrender costs.

    It took me several months working with a new advisor to decide which policy to transfer to.

    My new advisor was on the phone helping me stop my premium payments until I decided to transfer.

    MN life said “sure! no problem!” they then sent me an inconspicuous bill for $8500 saying I owed that much in premium.

    I found out today, they actually took out a “loan” against my policy to pay their bill because I hadn’t paid it.

    ( IN my eyes and my financial advisor, we had called to stop premium payments) This “loan” now generates a taxable event.

    They claimed I just asked to stop automatic withdrawals from my bank, if I want to reduce the monthly premium to $0 there is different paperwork to fill out…

    Reply
  5. Wanted a supplemental life policy that was offered through my wife’s work. I already have life insurance and a secondary policy through my work. They make you jump through hoops and hurdles with the testing and the endless questions to deny you for a ridiculous 25k policy for typical aging health issues and stress. This company is a joke, you have to be an 18-year-old with no “questionable” medical Hx to qualify. Thank you for wasting my time. Take your lousy policy and screw…

    Reply
    • I read your review, Peter. My name is Rick.

      At the recommendation, I applied for ins. with this company for my three daughters.

      I’m an older dad. I never spoke with such rude, uncaring and personally prying people.

      I just left a message with my ins. adviser over his phone to cancel my application.

      I should have google searched the few reviews but I trusted him.

      He said he had never handled this company before.

      I hope he realizes they have terrible agent skills.

      More like talking to an uneducated and uncaring telemarketer.

      Thanks for your review, it makes me feel like its not just me.

      Reply
  6. I am applying for regular TERM for 30 years. Not thru employer. Seems like all complaints are employer related policies done thru the employer. Is that the case?
    Any one out there do an individual term policy for 250K and had bad luck with pay out?

    Reply
    • Minnesota Life Ins. Co is absolutely PATHETIC in customer service. As I type this, I am on hold for 42 minutes, even though the recording told me at the start there were 3 ahead of me; a wait time of 14 minutes. Then there were 2 ahead of me, with a new wait time of about 15 minutes (?), then 1 ahead of me with a wait time of 14 minutes (??), THEN, about 12 minutes into that, I am next in queue, with a wait time of about 6 minutes (???????).People, do yourself a favor and go with MetLife, which I should have done but didn’t listen to those in the know.

      Reply
      • I HAD MY VEHICLE REFINANCED AND I HAD MINNESOTA LIFE FOR SICK POLICY, I HAD IT REFINANCED IN MAY 2017, I HAD A PSA IN JUNE THAT WAS HIGH AND THEN IN JULY I FOUND OUT I HAD CANCER. MINNESOTA LIFE WAS SUPPOSE TO PAY FOR 3 MONTHS OF MY VEHICLE PAYMENTS, THEY REFUSED TO DO IT, THEY SAID IT WAS A PRE EXISTING ILLNESS. IVE NEVER HAD CANCER BEFORE, I PAID 2000.00 FOR THIS POLICY IN CASE I GOT SICK AND THEY REFUSE TO PAY MY CLAIM.

        Reply
  7. THANK YOU everyone.
    i too was sent a flyer ( through my bank ) for what is called RECOVERY BENEFITS, after reading these reviews, this flyer will be tossed out along with all the junk mail.
    everyone have a great day.

    Reply
    • Thank you for your review, it prevented me from making a mistake.

      Last year I had CIGNA and ended up getting a chronic autoimmune disease.

      It was only after I read the reviews did I find out that they do not pay out no matter what the circumstance or they will pay out for a couple months and then it is like pulling teeth to get additional payouts.

      I will never buy any type of insurance without reading the reviews again .

      Reply
      • You are very welcome. I’m glad to have helped you save your money from this horrible company.

        Reply
  8. My sister has paid on policy through Texas AM benefits for nearly 20 years without a claim. Had an accident which left her legally blind (confirmed by physicians), and company rejected it based on facts that have nothing to do with her actual case or policy. Have spoken to countless consumers since, and read endless reviews, which show that we are not alone in this. The reason they are financially secure, is because they don’t pay their claims!! They auto-reject claims and hope that you tire of fighting for the benefits you’ve been paying for!!

    Reply
    • Something must be done about this company. They are currently trying to deny my claim too. Some how they must be stopped.

      Reply
      • Post your complaints on the
        RIPOFFREPORT.COM and attach proof of documentation.

        Consumer complaints will pile up. Stick together. Consumers should always do their Due Diligence.

        Reply
  9. I first realized minnesota life was taking money out of my account after I got my first overdraft fee, I signed a paper I received in the mail saying I was a first United credit union member so I would get a thousand dollars life insurance for no cost to me just for being a member, I never have them permission to take money out of my savings account every three months which I found out they have done four times, I called and cancelled any kind of policy told them I funny want the thousand dollars and I want paperwork sent to me to refund what they’ve taken which I’m still waiting to get in the mail, a week later after cancelling everything they went ahead and tried taking money out of my account again and I’m stuck with another overdraft fee, I’m so mad about this I might have to close my account and open a new one just to get them to stop taking money from me!

    Reply
    • I am experiencing a similar situation. I received a letter in the mail stating that I have $1000 of accidental life insurance free of charge. I could also receive $300.000 of additional insurance for $90.00 to be paid quarterly. I called them on Aug1st & cancelled the policy. They attempted to withdraw the money from my account 2 days later and I received an overdraft fee. Why is this occurring with different people? This company is bogus.

      Reply
  10. My husband has a life insurance policy that is part of a group term life policy through Minnesota Life that he was offered while employed with a company in 2008. After my husband was laid off, he was able to continue the insurance coverage if he paid the premiums which he has been paying regularly. The premium costs have jumped to an outrageous amount but we continue to pay on time because we have an adult son with Autism. My husband’s cardiologist has indicated some issues that require my husband to be on medications, but he feels great and is still working at age 64. Now, all of a sudden, Minnesota Life is telling my husband that they are moving up the payments that he has to make so instead of making payments quarterly (every three months) they want him to pay more frequently. When my husband couldn’t find the original paperwork for the policy he called and asked for the company to send him a copy of the policy but the paperwork is limited and states that to view the group term policy, my husband would have to make an appointment to come to the Company’s Corporate headquarters. In this era of online posting of everything, how can they expect him to drive from Syracuse, NY to Minneapolis, Minnesota just to view the terms of the policy. When the claim representative could not give him a logical reason for escalating the premium ( he was told they are escalating the payment of the quarterly premium for everybody) he asked to speak to a supervisor. He was told that a supervisor would call him back. That was early in the day and no one called. I told my husband not to expect that anyone is going to call him back. Can an insurance company unilaterally demand escalation of quarterly payments after paying every payment on time for eight years?

    Reply
  11. Minnesota Life Insurance Co information says how strong they are financially! Good for them. Sure the executives are making good salaries at their insured’s cost.

    Gosh, they might get better reviews if they actually paid on their policies without causing the insured’s family to get an attorney involved to obtain policy payout.

    My father took out a small policy when he was in his early 20’s. He paid on the policy until he died 60+ years later. We, his children, received less than half of the policy value because of Minnesota Life’s run-a-round. How many times do they need to have the information mailed to them to prove death & beneficiaries? You would think that these experts in the Life insurance field could do their jobs more effectively. Unfortunately, as I see by all of these comments, they either can not or will not.

    Death of a family member is hard enough… do yourself & your beneficiaries a favor & find a more reputable insurer!

    Reply
  12. Minnesota life is not what people think they are.This company policy are full of cow manure.How can a policy be process without a beneficiary.Well my mother’s was,thru her job.She passed away,and they(Minnesota Life)said we’ll she didn’t appoint a beneficiary,so it was to go to her husband ,but he does four months later,now it goes to his sister,not her kids.

    Reply
    • After all these years fo fighting trying to get my moms policy, Minnesota Life said she didn’t appoint a beneficiary.

      Now the State Comptroller, said they told them it was a beneficiary.

      Now the investigation bout to start, somebody is lying,( Crooked A$$ Insurance Co. Full of S#!* Robbery

      Reply
  13. The Company #MinnesotaLifeInsurance dba Securion Financial Services persuaded my late partner to purchase accidental life insurance over the phone knowing he was ill. He was under the impression he was being sold Mortgage Insurance. I was his long time partner and beneficiary. I was recently asked to supply a death certificate which CLEARLY STATES (BY PHYSICIAN) the cause of death as “accidental death”. Yes, he had underlying health problems as they would have known when they sold him the policy. — However, 2 weeks prior to his death he had a very favorable and positive outcome from his Physicians. Including their being no swallowing issues. He had swallowing tests that were all normal. Furthermore, I am actually shocked he was sold this type of insurance policy (over the phone) when the agent must have been aware of his health issues.

    Reply
  14. In June 1986 I ‘upgraded’ — for the same annual premium amount — from a $70,000 Term Life Insurance policy (Ministers Life) to a $50,000 “Term Life Policy with *Extra Term Protection Dividend Option” policy offered by Ministers Life – now “Minnesota Life” via consolidation – (http://www.thefreelibrary.com/MINISTERS+LIFE+CONSOLIDATES+INTO+MINNESOTA+MUTUAL-a013179265). The policy has always been paid on time via automatic monthly bank withdrawal.

    A few years later while acquiring Term Life Insurance for my wife, the Minnesota Mutual agent reviewed my policy to see if he could upgrade it — and exclaimed: “I can’t even get close to touching what is offered here. Don’t let go of it!”

    As I am approaching retirement, I recently reviewed my policy paperwork. It includes the following prospectus given to my by the agent:

    MONTHLY RETIREMENT INCOME BENEFITS
    MONTHLY INCOME COMMENCING ON THE POLICY ANNIVERSARY NEAREST:
    AGE 60 AGE 65 AGE 70
    GUARENTEED $10.53 $0.00 $0.00
    PROJECTED $194.80 $344.44 $569.25

    I logged in online at their site to review my policy only to find that clicking the policy number resulted in the statement “Policy not reviewable online.” I then contacted Minnesota Life support via phone to ask what my estimated monthly retirement benefits would be. They said that such an ‘old’ policy would take some time to dig up, but then did call me about a week later. The person said they had the policy but nothing about “Monthly Retirement Income Benefits” paperwork. I emailed the appropriate pages to them and got a call back within a few hours.

    I was directed to the “GUARENTEED” line which, it was explained, would be based on “Dividends” — and was told the “PROJECTED” line was based on Dividend Projections in 1986, and that Minnesota Life’s dividends in subsequent years had not met the (presumably RADICALLY overoptimistic) projections.

    I commented that I had shown the policy to my lawyer who was writing up our wills. He confirmed that it was the most unusual insurance policy he had ever seen. I did NOT tell her that he also added that though he was not a financial advisor, I should consult one because it appeared I should be able to cash the policy in for a significant amount of money (used the figure $100,000 which I suspect was perhaps overly optimistic).

    The support person put me on hold to consult her supervisor — and upon returning to me stated that if I wished I could reinvest the policy value into an annuity that would pay 4.5% ($76.53 a month) for 10 years guaranteed — and I could also role the ‘Paid Up Difference” into that for even more!

    I am not expecting the moon here, but it seems the dividend projected was either grossly overstated (especially since it appears to be a permanent ‘annuity’-type payout) — or they are trying to buy me out a good bit cheaper than the promised value of the policy.

    Your thoughts?

    Reply
    • Hello Michael,

      Let me start by saying I have no way to give you definitive answer, since I do not have the actual information in front of me. So please take anything mentioned here with a grain of salt.

      It sounds to me like you were bamboozled by an insurance salesman back in 1986. But do not feel bad, because this is still commonplace today. This term life policy sounds like it shares some similarities with modern variable life policies, since they are tied to some random benchmark which determines your returns. The problem here will be providing whatever benchmark they actually used. I am of the opinion that these types of policies are bad for most people, but pushed by agents due to their high commissions.

      The annuity option will get you a total of $9,183.60 ($76.53 x 120 months). If you absolutely need the money, this may currently be your best option. Term policies don’t typically have much of a cash value, if any.

      I don’t know what the actual term of the policy is, so when it expires could weigh heavily on the decision. If its about to expire, this could be the last grab to get something out of it. If it is a lifetime policy (which would be unusual for a term policy) then your estate would be giving up the ultimate death benefit.

      Honestly, its tough to give much advice without having all the details. I would recommend getting a financial planner with insurance knowledge involved. It sounds like a professional needs to review these documents.

      Best,
      Eric Stauffer

      Reply
      • This is the worst insurance company.

        I would advise anyone reading this to know your ERISA rights.

        I urge everyone to know your rights, so this company can not take your money and then not pay your claims.

        They prey on scamming people.

        Reply
  15. We just got a notice from Minnesota life. As a result of their financial experience, they are going to raise rates by 24%!!! I understand raising a reasonable amount, but 24% is not reasonable.

    Reply
  16. Thank you everybody for all of your comments. I am looking to get life Insurance because Life Happens and family is stuck with all of the loved ones expenses. I don’t want to leave my family that way. So i will continue looking but NOT with Minnesota Life!

    Reply
  17. Thanks to all who shared their experiences with Minnesota Life Insurance Co. An Accidental Death & Dismemberment policy has been offered through my bank and I’m glad I did some research before simply jumping on the “opportunity” to insure myself and my family for $300,000. Examining the sales material with a critical eye makes me suspect they are less-than-straightforward and actually pretty amateurish in the area of advertising. Further, the “please accept within 14 days” deadline makes me suspect the offer was mailed by a random envelope-stuffer who won’t get credit for his/her solicitation unless I respond before someone else uses my name off a mailing list. Finally, the scanty information listed on the “offer” states my “family plan protects my souse and children at a percentage of my coverage amount”, but doesn’t show anywhere what that percentage is.
    The whole thing smells fishy, and the comments made here convince me to shred this ‘offer’.

    Reply
    • Camper,
      I had the same feelings that something was missing. My husband, daughter, and I all use the same bank. We all got the same offer from Minnesota Life. The first envelope I opened seemed to be missing information. So I opened my husbands and there was a third sheet of paper folded up really small. I do remember seeing something similar in my envelope when I originally opened it. This is where it stated that spouses will get 50% of whatever coverage you choose and dependents will get 20%.

      Reply
  18. My father worked for the Virginia State Department of Transportation and had two policies with Life of Virginia in the early 1980s but when Minnesota Life sent me the information about the policy it was effective in January 1999. As a beneficiary don’t you have the right to review the policy that your father signed so as to preserve your rights. I am supposed to just take somebody’s word that the policy didn’t change ? Wouldn’t I be a fool to just take somebody’s word in a matter like this. Minnesota Life tells me that they don’t have the policies on this and that my father never signed for any policies. Whenever I bought any policies, I had to sign maybe in two or more places. I am sure my father would had to authorize this somehow and he also had to authorize a retirement contributions account as well. How does one go about getting a copy of life insurance policies that your loved one signed. Aren’t you entitled to view the originals on file ? Or is it setup that the insurance companies have the power to decide what you see and don’t see ?

    Steve Jolinski

    Reply
    • As a former claims adjuster for a major insurance company, I am well aware of all the tricks insurance companies do to avoid paying on their policies. It appears you are another in a long line of saps who have been victimized. You have rights and Minnesota Life should provide you with a copy of the life insurance policies you seek. Their refusal is highly suspicious and you might have grounds for a civil lawsuit. You need to contact the insurance commissioners or magistrate in the state where you reside to discuss your options. Don’t allow yourself to be duped. Be an advocate and take control of this situation, especially if there is insurance money to be had. Remember, there is a statute of limitations in many states is respect to insurance claims.

      Reply
  19. 7 years ago, Wells Fargo advertised Minnesota Life as providing Mortgage Protection Insurance. The monthly premiums were taken out along with our mortgage payment. When we refinanced, still through Wells Fargo, I called Minnesota Life to make sure that premiums would still be taken out each month. They said that the policy had been converted to an Accidental Death policy, and we would get quarterly payments. They refused to send out monthly statements.

    I called them saying that our policy was a mortgage protection, not accidental life, because everyone knows that Accidental Life is a bogus policy. While all of us think that dying is an accident, since the only intentional death is suicide, Minnesota Life just about listed every scenario as not qualifying for accidental death. We faithfully paid our premiums, sometimes a year in advance, for seven years. Now both my husband and I are over 60 and we can’t get a policy that will pay off the mortgage for less than $150 per month.

    I would not recommend anyone getting a policy with this company

    Reply
  20. For Account ID [Redacted], I have my premiums drafted from my account at the bank in the amount of $24.75 per quarter.

    On 11/5/2014, my account was drafter twice for the amount of $24.75. Please return the overdraft to me immediately

    Reply
    • Hello Melvyn,

      We are not a part of Minnesota Life Insurance, but rather a third-party review website. I would recommend contacting them directly by phone at 1-855-651-3500.

      Best,
      Eric Stauffer

      Reply
  21. My wife has Minnesota term life offered through her work. For her she gets a decent policy at a decent rate.

    We are now trying to get additional term coverage for me , as her spouse.

    They keep playing games of, “we need more doumentation on ‘x’, please submit 2 forms proving ‘y’, etc.

    They have stalled for almost 3 months now.

    I just sent in the last 3 forms they have requested. If they send me one more I will go buy a product privatly.

    Especialy after reading this review and the consumer ratings. Of course they are financially strong, it does not sound like they pay anything out.

    Reply
    • Hello DDG,

      I am going to take this opportunity to explain my thoughts on life insurance through work.

      It is my belief that life insurance policies through the workplace are a nice perk, especially when they are offered at a discount or paid altogether by the employer.

      However, I would never rely on those policies as my primary form of coverage, and here is why:

      Your coverage is often tied to your employment, so if you leave or get fired your coverage stops. That can be problematic for a few reasons:

      1. It limits your options in the future because it may become difficult to get coverage as you age or contract and illness/disease. This can mean you are forced to stay with your employer if you still need the life insurance.

      2. If you end up getting very sick or terminally ill in the future, you could be forced to leave your job right before your family really needs that life insurance policy. In many cases, the policy will cease as soon as you leave.

      My preference is to get proper coverage on the open market, and then take advantage of any great deals given by employers, but treat is as gravy on top.

      Best,
      Eric Stauffer

      Reply
      • That is great advice! I’m a single mom with an adult autistic son who would be taken care of by his brothers if something should happen to me (they are older teenagers). Life insurance is critical for me, but I realize I’ve been feeling falsely secure through my policy at work. Very good points! I will research the open market as well.

        Reply
    • I agree. They are stalling for payment. And they asked for additional documents. What the [redacted]. I’m the policy owner and the payments were deducted from my payroll every week.

      Never buy life insurance from this company.

      Reply
      • I agree. These lousy thieves have continued debiting my checking account

        DESPITE my have spent some hours on the phone fighting them, begging them to cancel my policy entirely.

        They are still at it, silently billing my checking account for apparently random amounts.

        Get your lousy thieving hands the hell off my accounts and my money!!!

        Reply
        • Report them to dept of insurance. They are the worst insurance company.

          I know this first hand. They screwed me out of $50,000.

          If you have this insurance please do yourself a favor a drop them.

          This is the only way to shut this company down is to stay paying premiums to them.

          Reply
  22. sept 2012 my son [Redacted] passed away I as policy holder on my son submitted A claim, coroner determined died of natural causes. All claims examiner [Redacted} accomplished is to stall payment for one bogust reason or another, I obtained an attorney he also submitted all paperwork as I had done well [Redacted] is stonewalling him also!

    Needless to say I have no good things to say for this company.

    Lucien Guilbault
    [Redacted]

    Reply
    • They are doing this to me as well. My daughter passed away and they will not pay out.

      Reply
      • What are the reasons they are giving for not paying out? My son recently passes 7 weeks ago. Still waiting on autopsy report and death certificate.

        Reply
        • I am in a current court battle with this Company too due to the loss of my husband. He passed away November 2015. They paid one claim, which was a smaller amount. They are refusing to pay the higher accidental policy now. They are trying their best to not pay my claim as well. Be careful.

          Reply
      • Report them to dept of insurance. They are the worst insurance company.

        I know this first hand. They screwed me out of $50,000.

        If you have this insurance please do yourself a favor and drop them.

        This is the only way to shut this company down is to stay paying premiums to them.

        Reply
        • Agreed, They are not ethical and still owe thousands for paying half of 25,000 for the cost of living inflation benefit.

          it should have paid 25 percent not half of 25,000.

          they paid out to a total of 12,500 on a policy where my Dad who was my rock in life and best friend miss him every day.

          Life had been rude to me and everything is a fight just to get them to pay anything.

          There are also questions that they will not answer like They are in bed meaning their affiliates are with Aegon, triligiant, us bank, TransAmerica and on and on.

          This is trickery and wrong what they are doing to the American public.

          Reply

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