UPDATED: Nov 30, 2018
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About New Era Life Insurance
Little information is available regarding the history of New Era Life. The company was incorporated in 1924, and has since grown to include the main corporation as well as New Era Life Insurance of the Midwest and Philadelphia American Life. The companies operate independently across different coverage areas, with headquarters in Houston.
The majority of New Era’s products are medical supplement; the only life insurance policy they offer is a simplified issue final expense life plan. All three of the companies under the New Era banner write Medicare Supplement plans, and all products are sold through local independent agents.
New Era Medicare Supplement
As noted, all three of the group of companies write Medicare Supplement plans, but the website does not indicate which company covers which specific regional area. Nor does the website list exactly which of the standardized Medicare plans New Era’s companies actually write.
The Medicare Supplement section of the site offers an overview of what the product is for and what it may cover, depending on the option you choose.
New Era promises quick acceptance into their Medicare Supplement plans, as well as electronic claims processing. For any further information, visitors to the site are instructed to have an agent contact them.
Since there is little to no information on the Medicare Supplement options themselves, it is not unexpected that the site does not list rate information.
New Era is an agent-driven smaller company, which means they follow the common path of avoiding online quotes and sending potential customers to an agent. Most of their business likely comes directly from agent sales rather than from online visitors.
New Era does not offer claims information anywhere on their website. While they promise fast electronic claims filing for their Medicare Supplement, there are no further details regarding this elsewhere on the site.
Medicare Supplement claims are likely filed directly by the provider; so most policyholders should not have much involvement. There is a login area on the website for customers; it’s likely claims can be tracked once logged in.
Ratings and Consumer Reviews
We found Better Business Bureau (BBB) files for two of the companies under the New Era banner. Both New Era Life Insurance Company of the Midwest and Philadelphia American Life have BBB files, but neither has a rating and neither has any complaints on file.
We searched for consumer reviews elsewhere, however, were unable to locate further reviews on other common sites. While we frequently see a lack of reviews for smaller life insurance companies, it is rare to find nothing at all to report, not even a BBB rating.
The Bottom Line
There simply is not enough information regarding New Era to make a recommendation. Without plan details, rates, and any sort of reputation information, this company will remain the type that gets new business through agent sales; most internet shoppers will find it difficult to form an opinion on this company based on what is available.
For a list of companies that we recommend, visit our Best Insurance Companies page.