Finding life insurance is a piece of cake, it’s finding the BEST life insurance company where it can get tricky. In order to find the BEST life insurance company for you and your family you need to read all about the company so that you can make sure they are financially stable, and to make sure they have the best product with the lowest premiums humanly possible. If you are looking for a reliable review about The Mega Life and Health Insurance Company then you have come to the right place! We are here to simplify the whole concept of life insurance because let’s face it, life insurance is easy to understand but some of the products are complicated and that is the purpose of us being here. Here at InsureChance, we provide the most unbiased and informative reviews so that you can make your own educated conclusions without being fed opinions of others. We state facts and only facts! In this article, we will be discussing The Mega Life and Health Insurance Company their rebranding and their products. However, keep in mind that Mega Life no longer sells individual life insurance policies, but don’t worry you still have other options so stay tuned! The following are some key points from this article;
- What we have found is that Mega Life Insurance has been bought out by HealthMarkets Insurance Company.
- HealthMarkets was founded in 1983 by Ronal Jensen under United Insurance Companies and made their focus on the untapped market of self-employed workers. They grew their earnings by more than double the very next year. In 2004 the company was acquired by The Mega Life and Health Insurance Company which was a small business insurer.
- The company faced many lawsuits in 2008 and 2010 and in result paid millions of dollars in settlements.
- ATTENTION: Mega Life Insurance/ HealthMarkets Insurance no longer sells individual life insurance policies!!
- They don’t have a rating, which makes us worry about their financial stability, which is important to know because you need to always make sure your family will be receiving the benefits they deserve after you leave.
- Another huge disadvantage is that they don’t have their own website where it can lead you to their new rebranded name HealthMarkets, it can be very confusing for anyone trying to find out their group plans or Medicare.
- Their last disadvantage is their customer service number. We have had clients complain about how they were on the phone frustrated because no one ever answers or an error message comes on
- You always have the option of taking advantage of our free service of finding the best life insurance company for you and your family. We are an independent life insurance agency who works with over 60 top rated life insurance companies and have absolutely zero ties with any of them because our loyalty is reserved for our clients and our clients only.
- We always recommend our clients to shop around for quotes because that is the best way to get an idea what your premiums will look like. If you have 30 seconds fill out our easy quote engine below and take a look for yourself what different high rated companies have to offer.
About Mega Life and Health Insurance Company
Mega Life Insurance Company is a company in which we have looked into different sites to be able to find some solid information about them since they don’t have a website of their own. What we have found is that Mega Life Insurance has been bought out by HealthMarkets Insurance Company. Mega Life says that “Keeping the promise of affordable coverage is the HealthMarkets’ mission, and the Mega Life and Health Insurance Company stays true to this vision for the past couple decades. Mega Life is one of the many different members of the HealthMarkets Companies and specializes in health and supplemental insurance coverage plans to make sure they are providing “personalized and world-class customer service.”
ATTENTION: Mega Life Insurance/ HealthMarkets Insurance no longer sells individual life insurance policies!!
About HealthMarkets Insurance Company
HealthMarkets was founded in 1983 by Ronal Jensen under United Insurance Companies and made their focus on the untapped market of self-employed workers. They grew their earnings by more than double the very next year. In 2004 the company was acquired by The Mega Life and Health Insurance Company which was a small business insurer. The following year they decided to move the company from public to privately owned. They rebranded The Mega Life and Health Insurance Company and renamed them to HealthMarkets Inc to convey their new customer focus. The company faced many lawsuits in 2008 and 2010 and in result paid millions of dollars in settlements.
HealthMarkets or Mega Life Products
Since Mega Life renamed and rebranded themselves to HealthMarkets we will use their new name from here on out. The company offers group plans but since they were sued with many lawsuits in 2008-2010 they were forced to no longer offer Scheduled Benefit plans and discontinued marketing individually underwritten plans. This means they don’t offer individual life insurance policies other than group plans. The company also offers Medicare and long-term plans from national and regional carriers.
HealthMarkets (Mega Life) Advantages or Pros
It is very rare that we don’t have anything good to say about a company, and this is one of those rare occasions. We are not bashing the company in any way or form, we are just stating facts and since the company no longer sells individual life insurance the good news is that you have other options! The only other good thing we can think of is that at least they offer group life insurance to lean on if your job doesn’t offer insurance.
HealthMarkets (Mega Life) Disadvantages or Cons
HealthMarkets is not one of our favorite companies on the market, they are not a terrible company but because we specialize in life insurance we don’t work with them. The fact that they don’t offer individual life insurance policies makes that their biggest downfall. They don’t have a rating, which makes us worry about their financial stability, which is important to know because you need to always make sure your family will be receiving the benefits they deserve after you leave. Another huge disadvantage is that they don’t have their own website where it can lead you to their new rebranded name HealthMarkets, it can be very confusing for anyone trying to find out their group plans or Medicare. I mean let’s face it, it’s the 21st century if your website is not up to date you can consider yourself irrelevant. Their last disadvantage is their customer service number. We have had clients complain about how they were on the phone frustrated because no one ever answers or an error message comes on, no website to lead them to their parent company and no reliable phone number where someone can explain everything.
You have other options
In this article, you learned that this may not be the best life insurance company for you if you are looking for an individual life insurance policy since they don’t offer any life insurance policies. Don’t worry you have other options! When looking for the best life insurance company you need to always look at the company’s rating, their history, and financials to get an insight of whether or not they will pay out your policy, and you need to also look at what the company has to offer. You should also work with an independent life insurance agency because they will know every companies unique niche. If you have diabetes, for example, you want to make sure you apply with a company who specializes in diabetes and not sleep apnea because if you go with a company who specializes in sleep apnea you will get rated up the wall! We always recommend our clients to shop around for quotes because that is the best way to get an idea what your premiums will look like. If you have 30 seconds fill out our easy quote engine below and take a look for yourself what different high rated companies have to offer.
Work with us!
You always have the option of taking advantage of our free service of finding the best life insurance company for you and your family. We are an independent life insurance agency who works with over 60 top rated life insurance companies and have absolutely zero ties with any of them because our loyalty is reserved for our clients and our clients only. Why DIY, Do It Yourself, if you have us around to do all the hard work for you? We will first compare different high rated companies until we find the best company that fits your needs, health, and lifestyle. After we find the best company for you and your family we will do the whole application for you with a couple questions and before you know it, you have life insurance! Don’t hesitate, give us a call today and sit back while everything happens in a blink of an eye.
