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Prosperity Life Insurance Company Review

Prosperity Life Inurance review

Prosperity Life Insurance Company makes our top final expense insurance companies list for 2020.

Prosperity Life Insurance Ratings

A.M. Best Company is the premier third party ratings agency. They asses the financial stability of insurance companies.

A high life insurance rating from A.M. Best means the insurance company is well positioned financially and can meet its current and ongoing insurance and financial obligations.

Prosperity Life Insurance Group currently has an A-, Excellent rating from A.M. Best. This rating is the 4th highest out of 15 offered by A.M. Best.

Prosperity Life Insurance Policies

Prosperity Life Insurance Group offers a wide variety of niche insurance products, including:

  • Fixed Index Annuities
  • Single Premium Annuities
  • Medicare Supplements
  • Term Life Insurance
  • Whole Life Insurance
  • Universal Life Insurance

Prosperity Final Expense Insurance

Prosperity offers a final expense whole life insurance policy.

Whole life insurance provides certain benefits and features, such as

  • fixed premiums for the duration of your life,
  • a fixed death benefit, and
  • cash value growth.

The policy is no exam life insurance. All you need to do is answer a few questions. How you answer the questions will determine which of the three different plans you may qualify for.

The three different plans include-

  • Level Benefit
  • Graded Benefit
  • Modified Benefit

Level Plan: Death benefit full face amount from day one of the policy.

Graded Plan: During the first year of coverage, the full face amount is paid for accidental death. For natural causes, the death benefit is equal to 30% of the face amount.

During the second year of coverage, the death benefit is equal to 70% of the face amount.

In year three and onward, the death benefit is equal to the full face amount.

Modified Plan: During the first year of coverage, the full face amount is paid for accidental death. For natural causes, the death benefit is equal to 110% of the annual premium.

During the second year of coverage, the death benefit is equal to 231% of the annual premium.

In year three and onward, the death benefit is equal to the full face amount.

Issue ages range from 50-80, based on the plan, with certain modified and graded plans having an age limit of 75.

Coverage Amounts Available: $1,500 to $35,000

Rider: Accelerated Death Benefit allows access to up to 50% of the death benefit if diagnosed with a terminal illness. (Not available in all states)

About Prosperity Life Insurance Group

Prosperity Life Group is a marketing name for products and services provided by one or more of the member companies of Prosperity Life Insurance Group, LLC, including SBLI USA Life Insurance Company, Inc., S.USA Life Insurance Company, Inc., and Shenandoah Life Insurance Company.

For the year 2019, Prosperity had $2.7 billion in assets. To date, the company has over $13 billion of life insurance in force.

Interested In Seeing How Prosperity Stacks Up Against The Competition?

A lot of times Prosperity Life offers the most competitive rates and product.

However, there are times when another burial insurance company might be a better fit.

Give IBUSA a call today and we can compare quotes from the best final expense insurance companies and help you decide on which company will be the best choice for you.

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