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About Manhattan Life Group
Manhattan Life Insurance Company was founded in 1850 in New York City. They quickly became one of the leaders in the life insurance industry, issuing the first policy to a woman and the first group life insurance policy in 1854. In 1894 the company built New York’s first skyscraper, the Manhattan Life Building, which stood as the tallest building in the world at the time. It was sold in 1926 and later demolished.
In the 1980s, Manhattan Life pioneered reinsurance standards that remain in use to this day, becoming a top reinsurer and policy management company for many other companies. During this time period, the company also moved from a mixed stock and policyholder ownership into full stock ownership. While Manhattan Life Insurance Company is located in New York, today they are a subsidiary of Manhattan Life Group, which is headquartered in Houston, Texas.
Manhattan Life’s product lineup remains focused on life insurance and a variety of supplemental policies, ranging from Accidental Death to Medicare Supplement. Policies are sold through independent agents, and Medicare Supplement policies may be underwritten by one of three subsidiaries of Manhattan Life Group: Manhattan Life Insurance Company, Family Life Insurance Company, and Western United Life Assurance Company.
Medicare Supplement Policies
Manhattan Life Group offers the following Medicare Supplement Plans. These are A, B, C, D, F, G, M, and N. Plan A is the basic plan and covers coinsurance for medical, hospital, and hospice, as well as the first three pints of blood each year. Plan B is also basic and also Part A hospital deductible for inpatient services. All of the other plans include this basic coverage, but add additional coverage such as paying deductibles and foreign travel emergency coverage.
Plan F is the plan that offers the most coverage, paying for all deductibles and coinsurance, and it is one of the most commonly offered plans. The company offers three other popular plans, G, M, and N, and also offers C, which is a more unusual choice.
Plan G is quite a comprehensive plan available from Manhattan Life, covering everything except your Medicare Part B deductible. Since it’s often offered at a lower rate than Plan F, it’s a popular choice. The plans are underwritten by Manhattan Life Insurance Company or Western United Life Assurance Company.
Medicare Supplement Rates
Though we are unable to locate the link listed on their website, it seems you able to obtain a quote from a separate site here. I went ahead and entered information for a 30-year old, non-tobacco using male living in Washington and the results given were for plans A, C, G, and N. Plan G, which is typically the most expensive next to Plan F, came in with a premium of $163.08 per month. According to the Health Markets website, the average monthly premium for Plan G in 2016 was $262, which would make Manhattan Life’s rate very reasonable. Of course keeping in mind that every insurance company has their own rate, though are obliged to offer the same coverage.
Another and likely better route to obtain more accurate information and quotes would be for the consumer to fill out a “Have an Agent Contact Me” form, providing personal contact information. There is no information available as to how long it is expected to take to hear back from an agent. This format is common with agent-driven companies. Though the separate website might benefit those living in certain areas.
Ratings and Reviews
Manhattan Life Group has an A+ rating with the Better Business Bureau, with very few complaints on record. Only six complaints have been filed in the past three years, and one of which has been closed in the past 12 months. That’s very low for a company of this size.
There are a few scattered reviews of the company elsewhere; two five-star ratings on Google reviews have no commentary attached, and the company also ranks at 5 stars on the relatively new Facebook rating system.
We were unable to find anything directly related to Medicare Supplement plans. Overall, the company seems to have a solid reputation, with few complaints.
The Bottom Line
Manhattan Life has a long, solid background and a good reputation in the insurance industry. Obtaining a rate through the website given above is likely to be helpful to some, however, more specific information and details for those residing in specific areas, it might be best to check with an agent. For those who prefer working with an agent, they are well worth investigating.
For a list of companies that we recommend, visit our Best Insurance Companies page.