You need to secure a life insurance policy and were approached by an agent or a close friend who mentions Columbus Life Insurance Company and you’re trying to figure out if this is the best company for you to go with. From reviewing hundreds of companies we can tell you that you’re doing the right thing because each company has its own way of classifying you and certain specialties. When reviewing a life insurer it is important to look at their background, financial strength, products, customer service and compare them to other reputable companies. This happens to be the process that we go through when reviewing the life insurer so all you have to do is read our article and you’ll be set.
* Columbus Life Insurance Company is not a fly by night and you can trust them if you decide to go with them or are already a policyholder. However, they are just one of many different life insurers and when all factors are equal you need to go with the best rate that you can get based on your overall health and lifestyle. To find the best rate you need to shop around with all the major carriers out there. Here are the links to Term Life or Permanent Life Insurance if you wanted to see quotes.
About Columbus Life Insurance Company
All great life insurance companies have one thing in common and that’s longevity in the business. In this case, Columbus is no different since they have been around since 1906 which is mind-blowing to think that this company survived both world wars and all kinds of economic roller coasters. Unlike other large carriers that started dabbling in different insurance products first, this company was focused on life insurance pretty early on which is a good sign.
A very important aspect to consider is company’s financials. According to A.M. Best, they have assigned a letter grade of “A+”, which is excellent and signifies that the company has enough financial reserves to pay out claims. It also demonstrates financial discipline of an insurer. Just to give you an idea, this company has over $40 billion dollars in assets which is more than enough to pay out a lot of life insurance claims even in the event of a disaster.
We also decided to see what others are saying about them and overall how their online presence is. It was quite surprising, that there are very few complaints in comparison to the number of policyholders that they have. The company is also accredited by the Better Business Bureau and received the highest grade of “A+”. We also checked out their website and it is better functioning than most other carriers since the insurance industry is slower to adopt new technology. On their site, you can log in to your account to see policy details, manage your policy and you can even file a claim.
The only thing that we didn’t like and couldn’t find is the company’s overall focus on philanthropy. In our experience, all great companies give back to the community, create various organizations and donate funds but that doesn’t seem to be this company’s focus. Nobody is obligated to give back but when you’re that big as Columbus Life it only makes sense to create some positive influence in the country you operate in.
Columbus Life Insurance Products
Like all large carriers, they offer a variety of temporary and permanent life insurance products to meet the needs of their clients. Just as a primer, there are two types of life insurance and everything else is a variation. Most popular and common type is a term life insurance plan which is a very affordable coverage that provides protection for certain circumstances. The other type of life insurance coverage is known as permanent life insurance which is more costly but covers you for the entire lifetime with an opportunity to accumulate some savings as well. So let’s look at their various plans in detail:
Nautical Term Life Insurance Plan
- Level coverage with fixed premium and death benefit.
- Can be locked in for 10, 15, 20 and 30-year term lengths.
- Convertible to a permanent plan before the term expires or age 70 whichever comes first.
- A portion of your death benefit can be advanced if you have less than 12 months to live due to terminal illness.
- Most affordable type of life insurance which is ideal for young families or people looking to secure a temporary coverage.
Universal Life Plans( Explorer Plus, Voyager, Indexed)
- Lifetime plan that can be secured until age 100 or 121.
- Accumulates cash value which you can withdraw via loans if you have a small emergency or need to supplement your income.
- Offers flexibility in premiums and death benefit amount unlike other types of permanent life insurance.
- You can pick the type of investments your cash value participates in based on various plans.
For more information on their plans click here.
Our Opinion
Overall, Columbus Life is one of the best life insurance companies we have reviewed and there is not much to pick on them for. They have been around for a long time, have strong financials, great customer service and a variety of life insurance products. So what do you do when it comes down to this type of carrier is simple, let the best quote win. There are a lot of big companies and when all things are being equal go with the carrier that can offer you the most competitive rate based on your overall health, family history, background and any other factors that can change your rate.
Work with Us!
That’s where a service like ours comes in handy. Here at InsureChance, we work with over 60 top rated life insurers and sort them thoroughly to get you the best quote. You can actually compare quotes from varius companies and different type of plans right here on our website. Simply make a selection from our life insurance quotes tab and with a few clicks all the information you want will appear. If you’d like to get live help call us at 888.492.1967 and one of our friendly agents will walk you throught the whole process. Welcome to the premier life insurance agency on the web!
