The time has come when you no longer can go without life insurance coverage and now you stumbled about Grange Life Insurance Company. You may be wondering if this is the right company to get you covered with. We are here to help you make that decision by examining the company’s rating, history, and products. Trust us when we tell you that we have already reviewed hundreds of companies and work with the best insurers in the country so our word is the bond. Here is a quick summary:
- Grange Life Insurance Company was founded in 1933 when John Haaf learned that his six-month insurance premium had jumped from $10 to $12. That is when he realized there was no reason for the increase because he was a safe driver and with that being said he began sharing the idea of offering low-cost auto insurance with other members. Then the company was called Grange Insurance Services.
- They serve 13 states across the country. They offer auto, home, business, and life insurance products to become a one-stop shop for many customers.
- They offer convenient online account access and personalized coverage. Grange Life has more than $2.6 billion in assets which is important to know because you always want to make sure that the company you will be working with has the money there to pay out your policy when your beneficiaries need it the most.
- According to A.M Best Company, they have rated Grange Life Insurance Company an “A” or excellent and they have managed to maintain this rating for over 50 years.
- Like we mentioned before Grange Life Insurance Company offers a variety of products and services from auto to business insurance but today we will only be focusing on the life insurance products they offer which are term life, whole life, and universal life insurance policies.
- Another pro is that they are a one-stop shop which means that if you need car insurance and home insurance you can combine your needs with one company but also get life insurance and combine all three, this can be appealing for those who don’t want to work with three different companies. A con of theirs is that they don’t offer Variable universal life or Index universal life insurance products which can be a downfall since there are people out there who want their cash value to grow quicker with their investments. Another con is that they are only one company among many other life insurance companies.
- Whether or not you decide to buy life insurance coverage from Grange Life you should still shop around for quotes, keep in mind that you have many other options out there. Shop around for quotes until you see one fit because different life insurance companies will offer you different quotes and you always want to exhaust your options before making a final decision.
Grange Life Insurance Company 2017 Review
Grange Life Insurance Company has been around for over 80 years and has more than 750,000 policyholders who trust Grange with their insurance needs. They serve 13 states across the country. They offer auto, home, business, and life insurance products to become a one-stop shop for many customers. They offer convenient online account access and personalized coverage. Grange Life has more than $2.6 billion in assets which is important to know because you always want to make sure that the company you will be working with has the money there to pay out your policy when your beneficiaries need it the most. According to A.M Best Company, they have rated Grange Life Insurance Company an “A” or excellent and they have managed to maintain this rating for over 50 years.
Grange Life Insurance Company’s Products
Like we mentioned before Grange Life Insurance Company offers a variety of products and services from auto to business insurance but today we will only be focusing on the life insurance products they offer which are term life, whole life, and universal life insurance policies.
Term life insurance
- Term life is a form of short term coverage that is designed to be very affordable.
- Since term life only protects you for a certain time frame you have the option to choose a time period such as 10, 15, 20 or 30-years.
- Term life insurance doesn’t accumulate any savings like a permanent plan.
Whole life insurance
- Whole life is a type of permanent life insurance that will cover you until age 100 when the policy matures.
- This policy offers a savings element which takes a portion of your premiums and put them into bonds.
- Premiums will be higher than a term life policy but that is because your coverage is permanent.
- Since you are able to accumulate your cash value you are also able to access this cash value build up in case you need it for any unexpected emergency.
Universal life insurance
- Universal life is just like whole life when it comes to lifetime cover but offers more flexibility.
- You have the flexibility when it comes to your death benefit as well.
- Universal life can also build up your investment within the policy for added tax benefit.
- You also have the opportunity to access your cash value for emergencies, college education, retirement income, or any other need.
Pros and Cons of Grange Life
All in all Grange Life is a very commendable life insurance company because one of their pros is that they are a strong company who have been standing with an “A” rating from the top rating agency for over 50 years. Another pro is that they are a one-stop shop which means that if you need car insurance and home insurance you can combine your needs with one company but also get life insurance and combine all three, this can be appealing for those who don’t want to work with three different companies. A con of theirs is that they don’t offer Variable universal life or Index universal life insurance products which can be a downfall since there are people out there who want their cash value to grow quicker with their investments. Another con is that they are only one company among many other life insurance companies.
Work with us!
Whether or not you decide to buy life insurance coverage from Grange Life you need to know that you have many options out there. As an independent agency, we help clients scour the entire marketplace with a click of a mouse so they can find exactly what they are looking for. Grange Life is definitely a good option but you need to see how they stack up rate wise against companies like Prudential, Banner Life and TransAmerica. Feel free to use our site to shop around or simply call one of our agents at 888.492.1967 to get a customized quote!
