Security Benefit Life Insurance Company Review (2024)
Security Benefit Life Insurance Company, renowned for its diverse insurance and financial products, prioritizes your financial security with an Excellent A.M. Best rating and a commitment to customer service and affordability.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Security Benefit Life Insurance Company
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
A (Excellent)Complaint Level:
LowPros
- Diverse range of insurance and financial products.
- Strong A.M. Best rating (A – Excellent).
- Competitive rates and flexible policy options.
- Long-standing history and reputation for reliability.
- Excellent customer service and knowledgeable agents.
Cons
- Rates can vary depending on individual factors.
- Some policies may have specific eligibility criteria.
- Limited availability in certain regions.
- Additional policy details may be needed for a complete assessment.
- Policy terms and conditions may apply review thoroughly before purchase.
Security Benefit Life Insurance Company, with its solid A.M. Best rating of A (Excellent), offers a diverse array of insurance and financial products to safeguard your future. From comprehensive life and health insurance policies to robust retirement planning options and investment products, Security Benefit ensures that individuals and families have access to financial security.
With discounts available for policyholders, this trusted company not only prioritizes protection but also affordability. Security Benefit’s commitment to customer service and its long-standing reputation for reliability make it a compelling choice for those seeking a comprehensive suite of insurance and financial solutions.
Security Benefit Life Insurance Company Insurance Coverage Options
Security Benefit Life Insurance Company understands that insurance needs vary widely among individuals and families. To address this diversity, they offer a comprehensive range of coverage options designed to provide financial protection and security. Here’s a look at the coverage options available to help you make informed decisions about your insurance needs.
- Life Insurance: Security Benefit offers various types of life insurance policies, including term life, whole life, and universal life insurance. These policies provide a financial safety net for your loved ones in the event of your passing.
- Health Insurance: Their health insurance plans cater to your medical needs, ensuring you have access to quality healthcare without financial strain.
- Retirement Plans: Security Benefit offers a selection of retirement planning options, such as 401(k) plans, annuities, and other investment products, to help you build a secure financial future.
- Investment Products: For those looking to grow their wealth, Security Benefit provides investment products like mutual funds and variable annuities, offering opportunities to increase your financial assets.
Security Benefit Life Insurance Company’s comprehensive coverage options are designed to safeguard your future, no matter your stage in life. Whether you’re seeking life insurance, health coverage, retirement planning, or investment opportunities, Security Benefit has a solution tailored to your unique needs.
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Security Benefit Life Insurance Company Insurance Rates Breakdown
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| Driver Profile | Security Benefit | National Average |
|---|---|---|
| Clean Record | $67 | $119 |
| 1+ Ticket | $104 | $147 |
| 1+ Accident | $125 | $173 |
| DUI | $208 | $209 |
| Poor Credit | $115 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Security Benefit Life Insurance Company Discounts Available
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| Discounts | Security Benefit |
|---|---|
| Anti Theft | 6% |
| Good Student | 15% |
| Low Mileage | 8% |
| Paperless | 5% |
| Safe Driver | 16% |
| Senior Driver | 7% |
Security Benefit Life Insurance Company not only provides a wide range of insurance and financial products but also offers various discounts to help you save on your premiums. These discounts can make your insurance more affordable while ensuring you receive the protection you need. Let’s explore the discounts available to eligible policyholders.
- Multi-Policy Discount: By bundling multiple insurance policies with Security Benefit, such as home and auto insurance, you can enjoy significant savings on your premiums.
- Safe Driver Discount: If you have a clean driving record and demonstrate safe driving habits, you may qualify for a safe driver discount, lowering your auto insurance costs.
- Good Student Discount: Students who maintain good grades may be eligible for a discount on their auto insurance, rewarding academic achievement.
- Anti-Theft Device Discount: Installing anti-theft devices in your vehicle can lead to reduced premiums, as they help protect against theft.
- Multi-Vehicle Discount: Insuring multiple vehicles with Security Benefit can lead to substantial savings on your auto insurance policies.
- Homeowner Discount: If you own a home, you may qualify for a homeowner discount when bundling home and auto insurance policies.
Security Benefit Life Insurance Company values its policyholders and offers various discounts to make insurance more accessible and affordable. These discounts, ranging from multi-policy and safe driver discounts to good student and anti-theft device discounts, can help you secure your financial future without breaking the bank.
How Security Benefit Life Insurance Company Ranks Among Providers
Security Benefit Life Insurance Company operates in a highly competitive insurance and financial services industry. While the specific competitors can vary based on the product line and geographic location, several prominent companies consistently compete with Security Benefit. Here are some of its main competitors:
- Prudential Financial, Inc.: Prudential is a major player in the life insurance and financial services sector. They offer a wide range of insurance products, retirement solutions, and investment opportunities, making them a formidable competitor for Security benefits.
- Metlife, Inc.: Metlife is a global insurance giant known for its life insurance, annuities, and employee benefits offerings. They have a significant presence in the United States and compete strongly in the individual and group insurance markets.
- AIG (American International Group, Inc.): AIG is a diversified insurance company that provides a range of insurance products, including life insurance, property and casualty insurance, and retirement services. They are known for their global reach and financial strength.
- New York Life Insurance Company: New York Life is one of the largest mutual life insurance companies in the United States. They have a long history and focus on providing life insurance and retirement solutions.
- Northwestern Mutual: Northwestern Mutual is a leading life insurance provider and financial planning services. They have a strong focus on personalized financial advice and wealth management.
- MassMutual (Massachusetts Mutual Life Insurance Company): MassMutual offers a wide range of insurance and financial products, including life insurance, disability income insurance, and retirement solutions. They compete for a share of the individual and group insurance markets.
- State Farm: State Farm is well-known for its auto and home insurance offerings but also provides life insurance products. They have a large customer base and a broad presence in the insurance industry.
- Allstate Corporation: Allstate is a major insurance company that offers auto, home, and life insurance products. They are a strong competitor in the personal insurance market.
- Principal Financial Group: Principal Financial Group specializes in retirement and investment solutions, including retirement plans, mutual funds, and individual life insurance. They compete with Security Benefit in the retirement planning and investment sectors.
- Lincoln Financial Group: Lincoln Financial Group offers life insurance, annuities, and retirement solutions. They have a strong presence in the group insurance and retirement plan markets.
These competitors often vie for market share by offering competitive pricing, innovative products, and strong customer service. Security Benefit Life Insurance Company must continually adapt and innovate to maintain its position in the industry and effectively compete with these formidable rivals.
Read more:
- Allstate Life Insurance Company of New York: Customer Ratings & Reviews
- The Northwestern Mutual Life Insurance Company Review
- Principal Life Insurance Company Review
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Security Benefit Life Insurance Company Claims Process
Ease of Filing a Claim
Security Benefit Life Insurance Company offers a convenient and user-friendly claims process. Policyholders can file claims through multiple channels, including online, over the phone, and through mobile apps. This flexibility ensures that customers can choose the method that suits their preferences and needs best.
Average Claim Processing Time
The average claim processing time at Security Benefit Life Insurance Company is commendable. They prioritize swift and efficient processing to provide policyholders with timely assistance during challenging times. Customers can generally expect a responsive and expedited claims-handling process.
Customer Feedback on Claim Resolutions and Payouts
Security Benefit Life Insurance Company has received positive feedback from customers regarding their claim resolutions and payouts. Many policyholders have reported satisfaction with the company’s prompt and fair handling of claims. This customer-centric approach reflects Security Benefit’s commitment to providing reliable financial support when it matters most.
Security Benefit Life Insurance Company Digital and Technological Features
Mobile App Features and Functionality
Security Benefit offers a robust mobile app that empowers policyholders with convenient features and functionalities. Through the app, customers can access their policies, view coverage details, make premium payments, and even initiate the claims process. The app’s user-friendly interface and comprehensive tools enhance the overall customer experience.
Online Account Management Capabilities
Policyholders can efficiently manage their insurance accounts online through Security Benefit’s web portal. This online account management platform allows customers to update personal information, review policy documents, and track the performance of investment products. The intuitive interface makes it easy for users to stay informed and in control of their financial security.
Digital Tools and Resources
Security Benefit provides a wealth of digital tools and resources to help customers make informed decisions. These resources include educational materials, calculators, and retirement planning tools. Security Benefit empowers individuals and families to plan for a secure financial future and maximize the benefits of their insurance and investment products.
Frequently Asked Questions
What types of insurance and financial products does Security Benefit Life Insurance Company offer?
Security Benefit Life Insurance Company provides a diverse range of insurance and financial products including comprehensive life and health insurance policies, retirement planning options, investment products, and various coverage tailored to individual needs.
Are there discounts available for policyholders with Security Benefit Life Insurance Company?
Yes, Security Benefit Life Insurance Company offers various discounts to eligible policyholders. These discounts include multi-policy, safe driver, good student, and anti-theft device discounts among others, aiming to make insurance more affordable while ensuring adequate protection.
How does Security Benefit Life Insurance Company handle claims and what is the average claim processing time?
Security Benefit Life Insurance Company provides a user-friendly claims process allowing policyholders to file claims online, over the phone, or through mobile apps. The company prioritizes efficient processing, maintaining a commendable average claim processing time, ensuring timely assistance during challenging times.
What digital features and tools are offered by Security Benefit Life Insurance Company for policyholders?
Security Benefit offers a robust mobile app enabling access to policies, coverage details, premium payments, and claims initiation. Additionally, policyholders can manage their accounts online through a web portal, updating information, reviewing policy documents, and accessing digital tools such as educational materials and calculators for informed decision-making.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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