Cincinnati Financial Life Insurance Review [2024]
Cincinnati life insurance products are affordable and reliable. If you're in the market for term life insurance, the Cincinnati life insurance rates are often cheaper than other industry competitors for young and middle-aged adults. A.M. Best and S&P each rate Cincinnati Financial with an "A+" financial strength rating. Cincinnati term life insurance policies can be as cheap as $9.50 per month.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
Licensed Insurance Agent
UPDATED: Feb 22, 2024
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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: Feb 22, 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.
On This Page
- Cincinnati Financial offers many products, including term, universal, and whole life insurance
- The Cincinnati term life insurance rates are comparable to many industry competitors
- Cincinnati’s financial strength ratings are consistently superior
If you’re looking for a competitive life insurance product, Cincinnati Life Insurance Company’s term life insurance might be a great option. It’s not always the most popular brand that has the best prices and products.
Shopping for life insurance is an important process that has major financial implications. We’ll help by breaking down the key features of Cincinnati life insurance, such as rates, reviews, and products.
Excited to learn more about Cincinnati life insurance? Keep scrolling to learn more, or enter your ZIP code to get free quotes from the top life insurance companies in your area.
Is Cincinnati life insurance any good?
Cincinnati life insurance can be a reasonable option for many of those looking to purchase life insurance. The company offers a few policy options, including term, universal, and whole life insurance.
The best Cincinnati life insurance policy for you will depend on your needs and budget. Whole life insurance and universal life insurance are typically more expensive month to month, but they have a cash value component that isn’t included with a term life insurance policy.
Term life insurance, on the other hand, yields a notable death benefit but is usually a fraction of the cost of the aforementioned permanent life insurance options.
When assessing a life insurance company, it’s important to get an idea of its rates, ratings, and reviews. For most people, the price of life insurance is the biggest selling point.
How much does Cincinnati life insurance cost?
Cincinnati life insurance will have different costs for different policies. Whole and universal life insurance policies are generally less predictable. There are many variables that impact life insurance rates.
Some of those factors include age, gender, policy coverage amount, occupation, hobbies, and health status. A standard term life insurance policy can range from under $10 to over $200 per month.
| Age | Male (Non-Smoker) | Female (Non-Smoker) | Male (Smoker) | Female (Smoker) |
|---|---|---|---|---|
| 25 | $14.52 | $12.54 | $36.30 | $28.16 |
| 30 | $14.52 | $12.76 | $40.26 | $32.12 |
| 35 | $17.38 | $14.96 | $47.30 | $40.48 |
| 40 | $23.76 | $19.80 | $67.98 | $56.32 |
| 45 | $34.54 | $27.72 | $110.44 | $82.72 |
| 50 | $47.74 | $38.72 | $159.72 | $117.04 |
| 55 | $73.26 | $56.76 | $259.16 | $181.50 |
| 60 | $121.22 | $93.72 | $398.20 | $270.60 |
| 65 | $213.62 | $157.30 | $636.24 | $432.52 |
Above, you’ll see how the Cincinnati life insurance rates can vary by gender, age, and smoking status. It’s a standard trend for older adults to pay more for term life insurance.
Additionally, men and those who smoke will oftentimes pay more for life insurance. That said, the price rate increases by age and smoking status will vary from company to company.
In this particular case, smokers can expect to pay roughly three times as much for life insurance compared to non-smokers with Cincinnati life insurance.
| Age | Cincinnati | John Hancock | MassMutual | Prudential | State Farm |
|---|---|---|---|---|---|
| 25 | $14.52 | $14.21 | $15.00 | $18.16 | $23.27 |
| 30 | $14.52 | $14.79 | $15.23 | $19.03 | $24.59 |
| 35 | $17.38 | $16.86 | $15.88 | $19.25 | $26.09 |
| 40 | $23.76 | $22.09 | $20.68 | $21.00 | $33.72 |
| 45 | $34.54 | $31.54 | $32.40 | $23.63 | $45.47 |
| 50 | $47.74 | $49.24 | $47.63 | $31.28 | $69.59 |
| 55 | $73.26 | $78.24 | $73.73 | $42.88 | $105.72 |
| 60 | $121.22 | $116.99 | $125.73 | $66.28 | $183.79 |
| 65 | $213.62 | $202.24 | $243.18 | $119.66 | $323.42 |
Cincinnati’s life insurance rates are typically comparable to industry competitors. You’ll see above that this is especially true for young and middle-aged adults.
For older adults, it appears that Cincinnati life insurance is a reasonable option, though there do appear to be some options that are more affordable for healthy older adults.
In short, you should anticipate securing a reasonable life insurance quote from the Cincinnati Life Insurance Company when you are shopping for rates.
Is Cincinnati life insurance reliable?
Beyond reviewing a life insurance company’s rates, it’s important to investigate a company’s financial strength and its customer service reputation.
Cincinnati’s life insurance ratings are as follows:
- A.M. Best: A+
- S&P: A+
- Fitch: A+
- Moody’s: A3
- BBB: A+
Overall, the financial strength ratings for Cincinnati Financial are superior. It’s encouraging to see that virtually every major rating agency has reinforced the fact that Cincinnati life insurance is reliable financially.
This simply means that policyholders should have no fear about a death benefit being paid out when the time comes. If you need a large death benefit, this would be a company to consider.
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Cincinnati’s strong insurance ratings aren’t just for financial strength, however, as the Better Business Bureau also rates them with an A+, suggesting a positive response to customer complaints.
Unfortunately, there appears to be some sort of blockage on the company’s NAIC Complaint Index. This scale allows consumers to see how frequently the company has complaints.
It could be worthwhile to review your local agent’s Cincinnati life insurance reviews to be sure there aren’t many negative comments about the agent or insurance company.
More About Cincinnati Life Insurance
Cincinnati life insurance appears to be both reliable and affordable. The company operates in most states, so it shouldn’t be very difficult to find.
If you become a policyholder, the company offers 24/7 claims processing online, via mobile app, or by calling the Cincinnati life insurance phone number. This might vary depending on the state you live in.
If you need to contact headquarters for a more pressing issue, the Cincinnati life insurance address is based out of Fairfield, Ohio as Cincinnati Financial Corporation.
The company offers an assortment of products beyond life insurance, including investment services, risk management resources, loss prevention tools, and other forms of insurance.
A multi-faceted company like Cincinnati tends to have sustainable financial strength, which explains the strong industry ratings.
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Cincinnati Life Insurance: The Bottom Line
Overall, if you want to buy Cincinnati life insurance, you should feel comfortable knowing that this company consistently offers competitive rates to supplement strong ratings and reviews.
We hope this Cincinnati life insurance review helps steer you in the right direction. Before you go, enter your ZIP code to get free quotes from leading life insurance companies in your area.
Frequently Asked Questions
What is Cincinnati Financial?
Cincinnati Financial is a company that offers a range of insurance products, including life insurance. They have been in the insurance industry for over 70 years and are known for their financial stability and strong customer service.
What types of life insurance does Cincinnati Financial offer?
Cincinnati Financial offers several types of life insurance policies, including:
- Term life insurance: Provides coverage for a specified term, typically 10, 15, 20, or 30 years. It offers a death benefit if the insured passes away during the term of the policy.
- Universal life insurance: Offers lifelong coverage with a flexible premium structure. It combines a death benefit with a cash value component that grows over time.
- Whole life insurance: Provides lifelong coverage with level premiums and a cash value component that accumulates over time. It offers a death benefit to beneficiaries upon the insured’s death.
What are the key features of Cincinnati Financial’s life insurance policies?
Some key features of Cincinnati Financial’s life insurance policies include:
- Financial stability: Cincinnati Financial is known for its strong financial stability, which is an important factor to consider when selecting an insurance provider.
- Customizable coverage: Their life insurance policies offer flexibility, allowing you to customize coverage amounts and policy features to suit your specific needs.
- Optional riders: Cincinnati Financial provides various optional riders that can enhance your life insurance coverage. These riders may include options for additional coverage for critical illness, disability, or long-term care.
- Competitive premiums: Cincinnati Financial strives to offer competitive premiums, but the actual cost will depend on factors such as your age, health, coverage amount, and policy type.
How can I apply for Cincinnati Financial life insurance?
To apply for Cincinnati Financial life insurance, you can typically contact a licensed insurance agent who represents Cincinnati Financial. They will guide you through the application process, help you choose the most suitable policy, and assist with completing the necessary paperwork. The agent will also provide you with information regarding the required underwriting process, which may involve a medical examination and a review of your health history.
What is the process for filing a life insurance claim with Cincinnati Financial?
In the event of the insured’s death, filing a life insurance claim with Cincinnati Financial typically involves the following steps:
- Contact Cincinnati Financial: Notify Cincinnati Financial of the insured’s passing by contacting their customer service or your insurance agent.
- Gather necessary documents: Gather the required documents, which may include the death certificate, policy information, and any additional forms or documentation requested by Cincinnati Financial.
- Submit the claim: Submit the completed claim forms and supporting documents to Cincinnati Financial. The claim forms can usually be obtained from their website or through your insurance agent.
- Review and processing: Cincinnati Financial will review the claim and supporting documentation. They may request additional information if needed. Once the claim is approved, they will initiate the payout of the death benefit to the designated beneficiaries.
How is Cincinnati Financial’s customer service reputation?
Cincinnati Financial has a strong reputation for providing excellent customer service. They have received positive reviews and high ratings for their responsiveness, professionalism, and helpfulness in addressing customer inquiries and concerns.
Can I get a quote for Cincinnati Financial life insurance?
Yes, you can request a quote for Cincinnati Financial life insurance by contacting a licensed insurance agent who represents Cincinnati Financial. They will assess your needs, gather relevant information, and provide you with a personalized quote based on your individual circumstances.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
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.