Life Insurance is one of the hardest topics to talk about because everyone hates the top of death. The fact that you are looking for life insurance is amazing because many people will just brush it under the carpet. So with that being said, congratulations, you realize the importance of life insurance and you are probably here trying to find an honest but informative review of Royal Neighbors Life Insurance Company. Look no further we are here to the rescue! Here at InsureChance, we provide the most unbiased and informative reviews because we believe that our clients will better utilize these kinds of reviews than one that simply shoves their opinions down your throats. In this article, we will be talking about Royal Neighbors Life Insurance Company, we will provide you with an honest review of them, and of course some of their life insurance products with highlights. The following are some key points from this article;

1. Royal Neighbors Life Insurance Company was founded by eight women back in 1895 when women couldn’t vote, couldn’t own property, and weren’t allowed to own life insurance. It is one of the largest women-led life insurance companies in the nation with the message that still remains important and relevant today which is to empower women to better their lives through financial protection solutions and opportunities to give back to their communities.
2. Royal Neighbors is now approaching nearly $1 billion of assets under management, with $209 million in excess reserves. They have also surpassed the $3 billion milestone of life insurance death benefit currently in force and almost $90 million in net income.
3. Royal Neighbors offer a nice array of life insurance products such as term life, whole life, and universal life to hit everyone’s different taste.
4. According to A.M Best, they have rated Royal Neighbors of America an “A-” which happens to be the fourth best rating you can possibly be given by A.M Best. 
5. You should always want to read a company’s rating because it will give you an idea of their financial stability.
6. Term life is a type of temporary life insurance that provides coverage for a short and specified period of time.
7. Whole life is a form of permanent life insurance and provides coverage for you guessed it, your WHOLE life!
8. Universal life is another form of permanent life insurance and does provide coverage for your entire life but it also allows for flexibility.
9. Whether you decide to buy coverage from Royal Neighbors Life Insurance Company or not you should still consider shopping around for quotes. You will never know what you can get offered with other companies. Life insurance is not a one size fits all kind of thing and you should always look at all the options you have.
10. If you have 30 seconds go below this article and fill out our super quick and easy quote engine so that you can see for yourself what top rated companies have to offer. Or you can take advantage of our FREE services and give us a call so we can do all the shopping for you. Not only will we not give up until we find you the best life insurance company but we will also do the necessary application for you to get coverage. 

About Royal Neighbors Life Insurance Company

Royal Neighbors Life Insurance Company was founded by eight women back in 1895 when women couldn’t vote, couldn’t own property, and weren’t allowed to own life insurance. It is one of the largest women-led life insurance companies in the nation with the message that still remains important and relevant today which is to empower women to better their lives through financial protection solutions and opportunities to give back to their communities. Their first office was located in Peoria, IL, and later they moved to Rock Island, IL, in 1908. In 1931 the society opened the Royal Neighbors of America National Home on the west side of Davenport, Iowa. It was established to help women in the organization who were in need of assistance. It was closed in 2004 when the Royal Neighbors decided that providing senior housing was not part of their core mission, that property was then sold in 2006 and the facility was listed on the National Register of Historic Places in 2015.

Royal Neighbors Life Insurance Company 2017 Review

For twelve decades now,  Royal Neighbors of America has continued their mission which is to build women’s futures through financial education. Royal Neighbors is now approaching nearly $1 billion of assets under management, with $209 million in excess reserves. They have also surpassed the $3 billion milestone of life insurance death benefit currently in force and almost $90 million in net income. Knowing a company’s assets is a good thing because it means that they have the money there to payout your policy when your family needs it the most. Royal Neighbors offer a nice array of life insurance products such as term life, whole life, and universal life to hit everyone’s different taste. According to A.M Best, they have rated Royal Neighbors of America an “A-“ which happens to be the fourth best rating you can possibly be given by A.M Best.

Why you should always read a company’s rating

You should always want to read a company’s rating because it will give you an idea of their financial stability. Being financially stable is important because you want to make sure that you are going to get what you are paying for. Ratings are not made up for jokes and giggles, there is a process these rating agencies go through to develop their rating. The company has to first seek out the help of the rating agency they choose to work with and sign a contract with them in order to allow them to go through the company’s financials and plans. Once the rating agency thoroughly investigates the company’s financials and plans then they present the recommended rating to their board and vote on whether or not the rating is a fair rating for the company to receive. After the vote then the rating is posted on the agency’s website and sent to the company.

If a company has a good rating it means that they are financially stable and if anything happens to their environment they would be perfectly fine. However, if a company has a bad rating it not only shows their instability with their financials but it also means they are vulnerable in their environment so if anything were to happen in their environment they wouldn’t know how to react. Plus they may not even be around in another 5 years or so and you don’t want to invest into a company that would just pick up and leave because not only will your policy be gone with the wind but so will all the premiums you have paid until that day. Moral of all this, just take a couple minutes of your day and check out a company’s rating.

Royal Neighbors Life Insurance Company’s Products

Like we mentioned before, Royal Neighbors Life offers term life, whole life, and universal life insurance policies.

Term life insurance

• Term life is a type of temporary life insurance that provides coverage for a short and specified period of time.
• Since a term life policy is for only a temporary period of time, you will need to choose how long you want your coverage for.
• Term lengths are 10, 15, 20, or 30-years with this product.
• Term life insurance is the most affordable life insurance product in the market.
• With this standard term life policy, your premiums will be level and same with your death benefit which means that it will never increase nor decrease.
• Riders available with this policy are Disability Waiver Rider, Accidental Death Rider, Guaranteed Insurability Rider, Accelerated Death Benefit Rider, Children’s Rider, Cancer Waiver Rider.

Whole Life insurance

• Whole life is a form of permanent life insurance and provides coverage for you guessed it, your WHOLE life!
• While your cash value is growing it can also be accessible through loans.
• Keep in mind that if you borrow against your policy or take out a loan from your policy’s cash value you will have to pay it all back.
• With whole life insurance, you have a couple options available, you can choose a traditional whole life, the simplified issue whole life, or the single premium whole life policy.
• Your premiums with whole life are level which means they will never go up.
• Whole life insurance is a little more expensive because it offers life long coverage and cash value build up, term life doesn’t do either.
• You can opt out to complete your payments in 20-years, pay only to 65, or pay a lower premium for the rest of your life.
• The simplified issue doesn’t require a medical exam but the maximum death benefit available is $25,000.
• With the single premium whole life option, you can choose to pay the entire premium up front and you will receive a discount for paying up front.

Universal Life Insurance

• Universal life is another form of permanent life insurance and does provide coverage for your entire life but it also allows for flexibility.
• This product offers level premiums which means that your premiums will never go up or down if you choose to not make them flexible.
• You have the flexibility to choose when and how much to pay for your premiums because life changes and so should your premiums.
• You have the flexibility when it comes to your death benefit as well.
• Universal life offers a cash value opportunity and you can accumulate this cash value on an income tax-free basis.
• Universal life insurance is a good way to make investments and earn cash value quicker than a whole life insurance policy.
• There is a 20-year no lapse guarantee but has a much smaller guarantee than other companies.
• There is also a 2% minimum crediting rate but it’s also lower than their competitors.

Work with us!

Whether you decide to buy coverage from Royal Neighbors Life Insurance Company or not you should still consider shopping around for quotes. You will never know what you can get offered with other companies. Life insurance is not a one size fits all kind of thing and you should always look at all the options you have. Finding the best life insurance is not impossible and since we are all different we all have different needs, health, and lifestyle. If you have 30 seconds go below this article and fill out our super quick and easy quote engine so that you can see for yourself what top rated companies have to offer. Or you can take advantage of our FREE services and give us a call so we can do all the shopping for you. Not only will we not give up until we find you the best life insurance company but we will also do the necessary application for you to get coverage.

If you have a medical condition you should especially work with us because we specialize in high-risk clients. We are an independent life insurance agency who work with over 60 top rated companies which gives us more options to work with. Every life insurance company has their own set of niches and as a consumer you may not understand all of the companies and their niches. Since we work with over 60 of them we are well aware of their niches and that can benefit you in the long run. If you are diabetic you should be looking to buy coverage with a company whose niche is diabetes because they understand your medical condition better than any other company will. If you choose to work with a company who specializes with clients who have sleep apnea you will get rated up like crazy because they don’t understand diabetes, they only understand sleep apnea. That’s where we come in, we know all of their niches and are here to help you! Give us a call today so that you can stop worrying about life insurance and spend more time with those who matter the most, your family.

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