Finding life Insurance is a piece of cake, it’s finding the BEST life insurance that takes some time and dedication of research. If you are looking for some a concrete review of Physicians Mutual Life Insurance Company or Physicians Mutual Insurance Company, then you have come to the right place! Finding a concrete review can be complicated when other companies provide reviews that either bash the company (because they don’t get the best commission off them) or are either too nice (because they get the commission they like and push clients to buy products from them for that reason). Either way, we understand your frustration and that is why here at InsureChance we provide the most unbiased and informative reviews online. We believe that our clients should make their decision without having others opinions shoved down their throats. The following are some key points from the article;

1. Physicians Mutual Insurance Company was founded in 1902 when Edwin E. Elliot, from his home in Omaha, Nebraska, dreamed of providing health insurance to medical professionals.
2. The company began to offer health insurance to Americans from all walks of life in 1962. Thousands responded and they liked the idea of a mutual insurance company, where they felt more than customers, they were owners.
3. In assets, the Physicians Mutual Insurance company has $2.03 billion and $279.7 million in total claims paid annually. In assets, the Physicians Mutual Life Insurance Company has $1.43 billion and $129.7 million in total claims paid annually. It is important to know a company’s assets because you should want to make sure that they have enough money to pay out your policy when your beneficiaries need it the most.
4. According to A.M Best Company, they have rated Physicians Mutual Insurance an “A-” or excellent and the Better Business Bureau rated them an “A+”. 
5. They offer term life insurance, whole life insurance, and juvenile whole life insurance policies.
6. Physicians Mutual Life Insurance Company is a reputable life insurance company but they are only one among many other companies.
7. A con of theirs is that they don’t offer any investment options such as universal life, index universal life, or variable universal life which some people love to do.

Physicians Mutual Life Insurance Company’s History

Physicians Mutual Insurance Company was founded in 1902 when Edwin E. Elliot, from his home in Omaha, Nebraska, dreamed of providing health insurance to medical professionals. He and his family worked day and night to launch their Company. Decades later they grew quick and guided by his father with integrity and sound business principals, Loring, became part of the Board of Directors. The company began to offer health insurance to Americans from all walks of life in 1962. Thousands responded and they liked the idea of a mutual insurance company, where they felt more than customers, they were owners. In 1967, they started selling insurance through a force of career agents and in 1970 they expanded their family by creating Physicians Life Insurance Company to provide the added security of life insurance protection. In 2012, the company entered the funeral pre-planning market to help meet the growing needs of funeral home owners and the families they serve.

Physicians Mutual Insurance Company 2017 Review

Today, the Physicians Mutual Insurance family offers a wide variety of health and life insurance products from the hospital and medical insurance policies to Medicare Supplement, from dental insurance to annuities to whole and term life insurance. Like we mentioned above, the Physicians Mutual Insurance family of insurance companies includes Physicians Mutual Life Insurance. In assets, the Physicians Mutual Insurance company has $2.03 billion and $279.7 million in total claims paid annually. In assets, the Physicians Mutual Life Insurance Company has $1.43 billion and $129.7 million in total claims paid annually. It is important to know a company’s assets because you should want to make sure that they have enough money to pay out your policy when your beneficiaries need it the most. The company’s headquarters are located in Omaha, Nebraska. According to A.M Best Company, they have rated Physicians Mutual Insurance an “A-“ or excellent and the Better Business Bureau rated them an “A+”.

Why you should always read a company’s rating.

A rating is provided to a company by their request to be investigated by a rating agency. The rating agency sends the company a contract that they have to sign in order for the rating agency to legally search through the company’s financials and do what they have to do in order to make sure that their rating is fair and justice. They don’t just create a rating out of thin air, after numerous investigations, a group of employees come up with a recommendation of what rating the company should get. After their recommendation they must present their reasonings to why they want to give the company the rating they came up with and it gets voted on by the board with a president or vice president present. After the board votes on whether or not the rating is accurate and fair, they send a document to the company to show them their rating and then posts the company’s rating on their rating agency website for consumers to see in case the company decides to not post their rating on their website. The rating agencies create these ratings for consumers to know whether or not they are investing into a company that will be around for another 5-10 years because a company with a bad rating shows that they may not be around for another 5-10 years. If a company with a bad rating is not around for another 5-10 years they will not be paying back the premiums you have invested. Moral of all this, read a company’s rating!

Physicians Mutual Insurance Company’s Product Offerings

Like we mentioned before, Physicians Mutual Insurance offers a variety of products and services. However, we will only be focusing on the life insurance products that they offer. They offer term life insurance, whole life insurance, and juvenile whole life insurance policies.

Term life insurance

• Term life is a form of temporary life insurance that provides coverage for only a short and specified period of time.
• Physicians Mutual Insurance offers two kinds of term life insurance policies, term life insurance, and high benefit term life insurance.
• “Term” refers to the specified period of time that you choose to stay covered for.
• Term life insurance for final expenses allows you to have the choice of 10 or 20-years or coverage.
• This product allows you to have a 10-year term policy for those between the ages of 18-70.
• This product allows you to have a 20-year term policy for those between the ages of 18-60.
• Your benefit amount can be $50,000 or less.
• This policy is designed to help pay for burial, final expenses, last medical bills, remaining credit card debt, and for day-to-day living expenses.
• High Benefit Term life insurance for mortgage and income replacement offers you a choice of 10, 15, 20, or 30-years.
•  This policy allows you to purchase a 10-year term for those between the ages of 18-75 and if you want a 15-year term you are eligible if you are between the ages of 18-65.
• If you want a 20-year term with this policy you have to be between the ages of 18-60 and if you want a 30-yeaar term policy you will have to be between the ages of 18-50.
• This policy offers you a benefit amount up to $10,000,000.
• This policy is designed to help pay for burial, final expenses, last medical bills, remaining credit card debt, for day-to-day living expenses, replace lost income, pay off your mortgage, support young children, pay college tuition, and provide funds for charitable giving or leave a legacy.
• Both policies offer level rates which means that your rates will never change throughout your policy’s life.
• Both policies offer the opportunity to renew your policy annually or convert your coverage to a whole life insurance policy at any time during your term policy.

Whole life insurance

• Whole life is a form of permanent life insurance that provides coverage for you guessed it, your WHOLE life!
• With a permanent life insurance policy, you can build and accumulate cash value with time.
• You have two options when it comes to whole life insurance, guaranteed modified whole life insurance and high benefit whole life insurance.
• A Guaranteed Modified Whole Life Insurance policy is available for those who are between the ages of 45-80.
• With this policy, you can get a benefit amount up to $10,000.
• This policy is designed to help pay your last medical bills, cover remaining credit card and other debts.
• This policy has a graded death benefit during the first two years since you cannot be turned down for coverage because of your health past or present.
• A High Benefit Whole Life insurance policy is available for those who are between the ages of 22-80.
• With this policy, you can get a benefit amount up to $2,000,000.
• This policy is designed to help pay your burial, final expenses, your last medical bills, remaining credit card debt, replace lost income, cover household expenses, pay off your mortgage, pay college tuition, and provide funds for charitable giving or to leave a legacy.
• This policy guarantees that you have full benefits payable on the first day of coverage in exchange for having health questions on your application.
• Both policies are locked in for life and your premiums will never increase.
• Both policies also guarantee that your permanent protection will last your lifetime as long as your premiums are paid on time. You can also borrow from your cash value if needed. Your benefits will also never go down.

Juvenile Whole Life Insurance

• Physicians Mutual Life offers juvenile whole life insurance to help you provide your children and grandchildren with protection and peace of mind throughout their lifetime.
• Purchasing juvenile whole life insurance can be one of your greatest acts of love because you can help them plan for a more financially secure future.
• This is a permanent life insurance policy.
• This policy allows your child to have benefit amounts between $5,000-$10,000.
• Coverage is available to children 14 days old through 12 years old.
• The amount of coverage automatically doubles when the child reaches 21, with no rate increase.
• At age 22 and 27, the child is guaranteed the option to get additional coverage that can be up to $100,000.
• This coverage builds cash value just like any other permanent life insurance policy.
• This policy has guaranteed level premiums which allows the rate to stay the same for the life of the insurance policy and it will never go up because of the child’s age or health.

The Bad

Physicians Mutual Life Insurance Company is a reputable life insurance company but they are only one among many other companies. A con of theirs is that they don’t offer any investment options such as universal life, index universal life, or variable universal life which some people love to do. Another con is that they don’t show on their website whether or not they are involved in their community as far as community service, a lot of other big box life insurance companies do get involved in their communities.

The Good

The good news is that you still have options! If you have 30 seconds go to the bottom of the page, fill out our simple quote engine, and see for yourself what quotes are available for you. With our quote engine, not only will you be given quick quotes without hassle but you can also compare rates from other top rated companies. We always recommend to shop for quotes and why not use our easy tool? You can also give us a call so that we can do all the shopping for you and that way you can spend more time with the ones who care the most, your family. Take advantage of our FREE service and give us a call, we work with over 60 top rated companies and it gives us a wider selection of companies to choose from. Here at InsureChance, we will not rest until we find the BEST life insurance company for you and your family, don’t hesitate to give us a call today or compare quotes today with our quote engine!

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