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Phoenix Life Insurance Company Review

phoenix life insurance

Phoenix Life provides life insurance for many who have found this rather unknown company. More and more people come to know and trust it each year. Phoenix Life is one of our top no exam life insurance companies.

This review of Phoenix Life Insurance Company will help you learn the positive and negative aspects of choosing them for a term or permanent life insurance policy.

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Review of Phoenix Life

About Phoenix Life

To start this review of Phoenix Life, we need to tell you a little background information about their company.

The Phoenix company is a group of companies in Hartford, Connecticut. They have a long history of providing individuals and families with all kinds of insurance: they’ve been in business since 1851!

Life insurance has always been their primary objective. The parent company, The Phoenix Companies, was acquired by Nassau Reinsunrance Group in September 2015.

Phoenix Life Insurance’s Ratings

There are independent and unbiased rating agencies who help consumers to assess the financial strength and reliability of financial institutions before making an investment.

These organizations also rate life insurance companies. Phoenix Life has been rated by two of the most prominent rating organizations: A.M. Best and Fitch Ratings.

Nassau Life Insurance ratings:

  • A.M. Best rating: B+
  • Fitch rating: BB+
  • Comdex ranking: 36

It is safe to say that Phoenix Life is not a top rated life insurance company. However, they do offer some unique product niches that make them an option to consider when you fall into certain categories.

Life Insurance Policies offered by Phoenix Life

Safe Harbor Term Life Express:

This is a no medical exam term life insurance policy.
Policy Snapshot:

  • Eligibility: 18-80 years
  • Term Lengths Available: 10, 15, 20, and 30 years.
  • Death Benefit: $25,000-$400,000
  • Riders: Accelerated riders available in some locations (includes: critical, chronic, and terminal illness benefit riders)
  • Option to convert to another policy later

Phoenix Life also offers the following policies:

Permanent Life Insurance: permanent life insurance is coverage that will be valid for your entire life so long as you make your payments. There are different permanent coverage types, including:

Universal Life Insurance: Flexible policy that has cash accumulation

Indexed Universal Life Insurance: have more control over your policy as it is indexed to a market, such as the NASDAQ or S&P 500.

Variable Universal Life Insurance: This is a riskier life insurance policy since a portion is invested in the stock market, but high risk also means the potential for greater returns

Term Life Insurance: Get great coverage for the crucial years where your loved ones would really need the extra financial support. Level term life insurance is a great option for parents looking to protect their children’s needs until a certain age or someone whose spouse would need supplementary income.

Suvivorship Life Insurance: Get a second-to-die policy from Phoenix Life. The person who dies first will be covered, and the survivor will gain access to the death benefit.

Joint Life Insurance: This is similar to survivorship life insurance, only it covers more people. For example, business partners who would need the insurance to keep the business afloat should one of them die.

Phoenix Life: Is it for you?

The main question you’re probably looking to answer through this Phoenix Life review is whether or not this is the life insurance company you should go with.

From the review, you can tell we really do like Phoenix Life. Of course there are some drawbacks – the first being that it has good ratings, but there are definitely higher rated life insurance companies out there. But, overall, we do believe you’ll be satisfied with the product you purchase from Phoenix Life.

But is satisfaction all we’re looking for here? No, definitely not.

You want the best rated life insurance policy that fits in your budget: the most coverage, the lowest premiums, and the most benefits.

We can’t tell you which company that would be until we know something about you. That’s because life insurance companies all have their own way of calculating coverage and cost: for some, heart arrhythmia may be a big disadvantage, whereas for others it’s not a big deal so long as your overall health is good.

Some life insurance companies have great ways to handle consumers who are on blood pressure medication. Others, however, may penalize you for being on medication.

That’s why we need to know about you! Once we know about you – your lifestyle, health, medical history, and risk factors – then we can tell you if Phoenix Life is the life insurance company for you! If they are, then we most definitely will tell you. If not, we will recommend a life insurance company that is better suited to your needs. Whatever company is best for you is who we will recommend.

How can you do that?

We aren’t tied to any one particular life insurance company, but we do work with dozens of life insurance companies. We know all about their policies and their class rates.

This is how we can determine which life insurance company is best for you – and we will never pressure you into buying the wrong life insurance product because we don’t have to.

We know there is a great policy out there for you: we just have to narrow in on it! And that’s what we’ll do. And you’ll leave knowing that you have the best life insurance policy possible.

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