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Grange Life Insurance Company Review

Life can be cut short at any moment, regardless of who you are. Accidental and early deaths happen regularly, leaving loved ones without someone they care for deeply. You don’t know what life is going to throw at you tomorrow, which is why it’s important that you prepare for the worst. With that being said, if you are looking for some solid information about Acacia Life Insurance Company then you have come to the right place. In this article, we will be discussing how Acacia Life Insurance is Ameritas now, as promised our review of them, and then we will discuss their products with highlights. The following are some key points from this article;

  1. 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.
  2. Just like many other big box life insurance companies, Grange Life Insurance Company also takes great pride in their community involvement.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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’s History

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. In 1935, Grange Mutual Casualty Company incorporated on March 25, 1935, and assumed the policies previously sold by Grange Insurance Services, Inc. In 1955, the company became a multi-line company by offering fire insurance. In 1958, a monumental change in the company practices occurred when Grange by vote expanded their customer base beyond Ohio state.

In 1964 the company updated their logo to include “Your partner in protection” a phrase that reflects their commitment to their agents and their policyholders. In 1968 they focused on expanding their company and they found Grange Life Insurance Company on February 22, 1968. In 1985, the company hit a major milestone of $500 million in coverage. In 1996, Grange’s five core values were established, Candor, ownership, integrity, teamwork, and do the right thing. In 1999 Grange introduced their Ease of Doing Business Concept which is still being used today to describe their hassle-free approach to insurance. In 2003, for the first time, Grange earned more than $1 billion in premiums in a calendar year.

Grange Life Insurance Company Gives Back

Just like many other big box life insurance companies, Grange Life Insurance Company also takes great pride in their community involvement. Like we mentioned above, one of the Grange’s five core values is to “do the right thing.” Through the Grange Insurance Foundation, they are able to lend a hand year after year to organizations that transform lives, provide comfort and enrich the community. The Grange Insurance Foundation have approximately donated to non-profit organizations more than $700,000 and their associated have worked more than 6,400 hours volunteering for various charities. 50% of Grange’s leadership executive officers have served on more than 37 local nonprofit boards. More than $80,000 of in-kind printing services for dozens of nonprofits have been performed by Grange’s associates. Last year the company won the Women for Economic Leadership & Development Central Ohio Leadership Census Award. They also won the United Way of Central Ohio Leadership Giving Award. That same year they won the American Red Cross Life Sharing Challenge, Insurance Division.

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.

Why you should read a company’s rating

It is important to look at a company’s rating because it shows how financially stable or unstable a company is. Rating agencies create these ratings for consumers to understand a company’s financial standing before they invest in them. Rating agencies go through a lot to be able to make these ratings. They investigate thoroughly in the company’s financials and their plans. If a company has a good rating it means that they are financially stable and will more than likely be around for your policy to pay out. If a company has a bad rating it shows the opposite, that they are not financially stable and if anything happens to their environment it will affect the company badly and they may not even be around long enough for your policy to be paid out. The worst part about a company going out of business is that your policy and all the premiums you have paid flies with the wind. Moral of all this is to just take a moment to check out a company’s rating.

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 temporary life insurance which provides coverage only for a short and specified period of time.
  • Since term life only protects you for a specified period of time you have the option to choose a time period such as 10, 15, 20 or 30-years.
  • Term life insurance doesn’t have cash value.
  • Term life insurance is the most affordable of all the types of insurance in the marketplace.

Whole life insurance

  • Whole life is a form of permanent life insurance that provides coverage for, you guessed it, your WHOLE life.
  • This policy offers an opportunity for cash value build up and accumulation.
  • 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 another form of permanent life insurance and does provide coverage for your entire life but it also allows for flexibility.
  • 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.
  • 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 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. We are an independent life insurance agency who work with 60 top rated companies so we have a pretty big selection of companies to work with. We offer a FREE service to our clients and we basically do all the shopping around for quotes. We don’t rest until we find our clients the best life insurance company for them and we even do the whole application for you! Let us do all the work for you so that you can spend more time with the ones who truly matters the most, your family.

The post Grange Life Insurance Company Review appeared first on Insurechance.com.



This post first appeared on Best Life Insurance Quotes Online - InsureChance.c, please read the originial post: here

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