Are you looking to buy a life insurance policy? If so, perhaps you’ve already heard about TIAA-CREF and are looking for more information about the company and the life insurance policies it offers. TermLife2Go is here to help you answer all your life insurance questions, and that includes questions you may have about TIAA-CREF.
Review of TIAA-CREF
Founded as the Teachers Insurance and Annuity Association of America, TIAA is a company most famous for retirement plans. They specialize in providing retirement for people in specific careers including: academics, researchers, and medical professionals. They have assets worth more than half a trillion $USD. TIAA also offers life insurance and annuities under the name TIAA Life.
TIAA-CREF is the former name of TIAA. However, to simplify things, the company rebranded itself and dropped the “CREF”. As of February 2016, the company is known as TIAA.
TIAA has been rated by all of the top financial strength rating organizations, and it has a strong record:
- A.M. Best: A++
- S&P: AA+
- Fitch: AAA
- Moody’s: Aa1
These ratings are good and should reassure anyone considering TIAA. Ratings agencies like these look closely at the financial aspects, stability, and future outlook to determine their ratings.
Life Insurance Policies offered by TIAA
Guaranteed Level Term Plans
TIAA is known for its Guaranteed Level Plans. Guaranteed Level Plans are available for a certain terms: either 10, 15, 20, or 30 years. Persons ages 20-75 can qualify for a plan. The coverage amount varies depending on your desires and your eligibility.
Universal Life Insurance
TIAA also offered Universal Life Insurance and Variable Universal Life Insurance policies. Both policies build cash value and are structured as excellent retirement vehicles. Under Varied Universal, there are roughly 40 different investment options to choose from, as well as variable death benefit options to choose from.
Life Insurance Riders offered by TIAA
Like most like insurance companies, TIAA offers customers the option to add riders to their life insurance policy. Some of the riders offered by TIAA include:
- Accidental death benefit – in case of an accidental death, your beneficiaries will still receive the death benefit. This may not include all types of accidental death.
- Automatic premium loan provision- in case you need a loan during your lifetime, this makes it easy!
- Living/accelerated death benefit- sometimes people need to access their policy death benefit before they actually die. This rider allows you access to your policy money.
Is TIAA an affordable life insurance company?
In comparison to other life insurance companies, TIAA is relatively affordable. Of course you will be able to find life insurance companies that are cheaper than TIAA, but they may or may not offer the same quality of life insurance. If you are a non-smoker, and a female your rates will be lower than if you are a male and a non-smoker or a male smoker.
Is TIAA a good life insurance company?
Now that you’ve learned some of the basics about TIAA, you want to get to the main point: Is TIAA a good, or even great, life insurance company? Well, we certainly don’t have any complaints! It is a reliable life insurance company offering millions of people financial security. The company serves people some top notch retirement solutions and life insurance plans.
But are they the best life insurance company?
We need to make this very point very clear: there is no such thing as “the best life insurance company”. Why? Well, it’s simple. Like people, life insurance companies are all different. When you’re looking for a soul mate, the person that’s right for you is probably not right for you best friend and vice versa. You and your best friend have different needs and different preferences. And though it may sound funny to compare a life insurance company to a soul mate, both are very important decisions, and both should be customized to your specific needs and wants.
We can’t tell you if TIAA is the best life insurance company for you without knowing more about you. Of course there’s a chance that TIAA is the very best option for you- they may offer you the lowest premiums and the most life insurance coverage. But then again, they may not. They may offer the best for your friend, though.
Does it sound confusing? It kind of is. That’s why you need the help of an expert. Someone who can help you navigate your way through the selection process. And that someone shouldn’t have an ulterior motive of pushing a life insurance policy that isn’t right for you simply to make a commission.
That’s where TermLife2Go comes in. We have a vast understanding of the life insurance industry. We work with dozens of the top life insurance companies in the United States. Once we get the chance to get to know you, we’ll be able to give you solid, customized life insurance recommendations.
We must warn you, we don’t work with TIAA. However, we do recommend you give them a call. See what they have to offer you. Then, call TermLife2Go and see what dozens of life insurance companies will offer you. Compare the results and make the choice that’s best for you – even if that’s TIAA. After all, your main objective is to get the best life insurance coverage possible. And that’s what you deserve.
So what are you waiting for? Contact TermLife2Go today for a free consultation.
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