At TermLife2Go, we make it our pursuit to stay on top of innovation within the world of life insurance. One major factor we look for is the various niches filled by the top 10 best life insurance companies, offering exam and life insurance no exam. By focusing on the various niches, we can align each client with the right company, based on each client’s unique need, health and lifestyle. The result is that we are able to find our client the best life insurance rates by age.
In the following review of Mutual Trust Life Insurance, we will discuss the company’s pros, cons and if it is the best life insurance company for you-based on your specific health and lifestyle.
Mutual Trust Life Review
About Mutual Trust Life Insurance
Founded in 1904, Mutual Trust Life Insurance has been selling life insurance policies to customers for more than a century. Mutual Trust Life Insurance also sells annuities. They are a part of Pan American Life Insurance Group, which is a collective of life insurance and health providers. Since Mutual Trust is a mutual holding company, they give fiscal responsibility a lot of importance. Today, they have more than $2 billion in assets. Mutual Trust Life Insurance is a privately held company.
Pros for Mutual Trust Life Insurance
Mutual Trust Life Insurance is a great company with a solid reputation. It has gained a vote of confidence from some of the best life insurance ratings agencies in the world, and continues to make many policyholders happy every year.
Mutual Trust Life Insurance Ratings
It’s one thing to claim to be financial responsible, and another to live it. So which is Mutual Trust Life Insurance doing? There are many third party organizations that spend ample time investigating the financial health and fiscal responsibility. Two of the most well-known ratings agencies are A.M. Best and Standard & Poor’s. Both of these organizations have given Mutual Trust Life Insurance solid ratings—a vote of confidence in the company’s performance and outlook for the future.
- A.M. Best Company: A-
- Standard & Poor’s: A
Mutual Trust Life Insurance Products:
Term Life Insurance- Mutual Trust calls its Term Life policy SelectTerm. This kind of life insurance policy is designed for someone who may want life insurance for a set number of years. If you have children and want to secure regular income for them in the event you have a premature death, Term Life is the way to go. It is also great for covering a mortgage, insuring a key person, or protecting a small business loan. You can get 10 year term, 20 year term and 30 year term life insurance. If you decide you want to extend the policy, you can convert it any time before you turn 65 years old.
Universal Life Insurance- This kind of policy is valid your entire life, but has a flexible payment plan. You can decide and change the amount you pay into your policy, adjusting it as your needs evolve. Business owners looking to fund buy-sell agreements with life insurance should consider permanent coverage, such as Universal Life. See our article on Indexed Universal Life Insurance for more on the benefits of choosing this type of coverage.
Whole Life Insurance- Whole life insurance is something that covers you for your whole life. The main whole life policy hat Mutual Trust offers is the Covenant, which is a class type of whole life insurance.
The main drawback is that whole life insurance policies are usually quite costly. Luckily, Mutual Trust offers a unique product that is about 30% whole life and 70% term. It gives policyholders flexibility to ensure a heftier coverage plan for a certain amount of years, and basic coverage thereafter.
Another policy that may be interesting for people who want to do some serious estate planning and/or charitable giving after their death is the Legacy One.
Drawbacks of Mutual Trust Life Insurance
Like all life insurance companies, the price of the policy will depend on some factors related to your personal situation. There are certainly scenarios where Mutual Trust is the best and most affordable life insurance policy for a policy seeker, but of course, there other scenarios where they simply may not be the absolute best option.
Determining if Mutual Trust is right for you
It’s not easy to figure out if a life insurance company is the best one for you. The reason it’s so hard to figure out is because every single life insurance company has a different way of assessing risk. One insurance company might really penalize you harsher if you are a smoker, whereas another may offer better rates for diabetic life insurance. There are dozens of factors and combinations of factors that to really find the best life insurance company for you takes some serious expertise. Luckily, TermLife2Go is here to help.
TermLife2Go is a company designed to help policy seekers like you find the best life insurance company possible. We have extensive knowledge of dozens of the best life insurance companies in the United States. We learn about you and your situation and then compare that with what we know about these companies and their underwriting processes. Only then do we make customized recommendations. We may recommend Mutual Trust Life Insurance—but only if it is truly the right fit for you. If it’s not, we’ll tell you that and offer you some great alternatives.
Do you want to know if Mutual Trust Life Insurance will offer you the best life insurance policy? If so, then call TermLife2Go today for your free consultation.
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