Vantis Life Insurance Review & Complaints: Life Insurance

Vantis Life Insurance is a part of Penn Mutual and focuses on basic life insurance and annuities, operating through agents throughout the country. Their main focuses are term life insurance and whole life insurance.

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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.

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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...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: May 17, 2021

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Vantis Life Insurance

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The Vantis Life Insurance Company was founded more than 75 years ago and focuses on basic life insurance and annuities. Vantis Life is a part of Penn Mutual and operate through agents across the country.

What is Vantis Life?

Vantis Life Insurance Company was founded in 1942 under the name Savings Bank Life Insurance Company (SBLI). The Windsor, Connecticut-based insurance company went through a restructuring in 2002 and took on its new name. In 2016, Penn Mutual Life Insurance Company acquired Vantis Life, which now operates as a wholly-owned subsidiary and part of the Penn Mutual family of companies, a trusted name in the insurance industry.

Vantis Life focuses on affordable life insurance options, particularly term life insurance and whole life insurance including simplified issue life insurance and final expense insurance policies. They also offer annuity options for retirement savings. Vantis Life’s products are available through independent licensed agents across the country.

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What Vantis Life products are offered?

There are a variety of products available from the Vantis Life Insurance Company that offer some options without over-complicating things. These products are aimed at budget-minded customers; this company excels in providing insurance for individuals looking to get basic coverage quickly, whether you need a life insurance policy or are planning for your retirement with an annuity.

Life Insurance Products

There are both term and whole life products available, coverage choices that are typical to any life insurance provider.

Velocity Term is a basic term life policy. Term lengths range from 10 to 30 years and increase by five-year increments. The policies can be converted to permanent insurance up to age 65 as long as the insured qualifies. Although they promise fast issuing of policies, this product does require health information as part of the underwriting process. A disability waiver of premium rider can be added.

Velocity ROP is a return of premium term life policy. This means that premiums paid into the policy are returned at the end of the term – as a result, premiums for this policy will be higher. This policy is available in 20, 25, or 30-year terms and the disability waiver of premium option is also available.

Guaranteed Golden is a final expense whole life policy that is available to those between the ages of 50 and 80. This plan has no medical exam requirement and offers death benefits of up to $20,000.

There are two other types of whole life policies for those looking for permanent coverage. These policy options include EstateWise Platinum, which is a single premium whole life policy that provides tax-free estate transfer. The plan includes options for accelerated benefits and a charitable giving rider as well.

Finally, the insurer offers a basic whole life policy that includes the option of Whole Life Plus, a plan that offers annual dividends. Issue age and death benefit amounts are not listed for these products.

Annuities

Three annuity products are offered under the FreedomSaver product name. Each of these products offers different investment choices and different rate guarantees. All of the plans are multi-year guaranteed rates.

Does the company offer competitive rates?

Unfortunately, Vantis Life does not have an online quote tool. The “Get a Quote” button instead sends the website visitor to a form that can be filled out to request contact from an agent to discuss an insurance quote. A toll-free customer service phone number is also offered to get rate information.

While it is not uncommon for agent-driven companies in the life insurance industry to operate in this way, it may turn away those that prefer comparison shopping online without being added to an insurance solicitation list.

How are claims handled?

Claims information is only listed in the FAQ section of the website, where a toll-free number is provided for filing claims. The forms section of the website does not include life insurance forms; they will be sent out to you after calling to file the claim.

Information on the claims process is very limited, with no detail in terms of what is required to file. Similar to those seeking an insurance quote, beneficiaries will need to call the customer service phone line for instructions.

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Are the ratings and consumer reviews positive?

Vantis Life has been Better Business Bureau (BBB) accredited since 2017 and has an A+ rating with no customer complaints about its insurance coverage on file in the past three years. There is a single negative review on the BBB file, describing problems with annuity payments.

We were unable to find any of Vantis Life’s customer service reviews on any of the other usual sites. For an insurance company, a lack of reviews usually means good things, since people are far more likely to leave customer complaints when they are displeased than glowing reviews when they are happy.

What’s the bottom line?

Vantis has some good basic policies and a good reputation in the life insurance industry, although without rates we cannot judge just how much value their plans offer. It is a little frustrating that the website is not a solid online resource, and there is no way to get an insurance quote without calling, putting them a little bit behind other modern carriers. With that said, we found no red flags for them, and they are likely worth getting a quote for those who do not mind contacting an agent to compare rates.

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