Physicians Life Insurance Company Review

At TermLife2Go, we focus on pairing each client up with the best life insurance company that fits each specific client’s health, need and lifestyle. In the following review of Physicians Life Insurance Company, we will address the pros and cons of the company. Is Physicians Life the best company for you?

About Physicians Life Insurance Company

Physicians Life Insurance Company is a member of the Physicians Mutual family.  Physicians Mutual was founded in 1902. Physicians Mutual Insurance Company has $2.21 billion in assets, with Physicians Life Insurance Company currently holding $1.60 billion in assets.

Physicians Mutual is a mutual insurance company.

What is a mutual insurance company?

A mutual insurance company is a company that is owned by the policyholders, rather than by the shareholders. A company that is owned by the stockholders is beholden to its stockholders. A mutual insurance company, owned by its policyholders, is beholden to its policyholders.

Physicians Life Insurance Company Ratings

It is important to take a company’s ratings into consideration when determining if the company is the right fit for you. You should look at A.M. Best rating to determine the financial health of the company. Further, the BBB review will give you a good idea of how well the company does at addressing customer needs and servicing each client.

  • A.M. Best rating of A, “excellent” (as of 09/2015).
  • BBB rating A+ (as of April 21, 2017)

As you can see, Physicians Life Insurance Company has some fantastic ratings for both financial health and customer service.

Physicians Mutual Products

The Physicians Mutual family of companies offer the following products:

  • Medicare Supplement
  • Life Insurance
  • Dental Insurance
  • Accident Insurance
  • Supplemental Health
  • Annuities
  • Funeral Pre-Planning

Physicians Life Insurance Company Policies

Physicians Life offers both permanent life and term life insurance.

Term Life:

Physicians Life term life insurance is focused on final expense and burial insurance.

High Benefit Term Life

Physicians Life high benefit level term life insurance is focused on replacing income, covering a mortgage, and protecting an estate.

  • 10, 15, 20 & 30 year terms
  • Up to $10,000,000 of coverage
  • Ages 18-75 depending on term lengths
  • Convertible life insurance
  • Renewable to age 95

Guaranteed Modified Whole Life

Physicians Life guaranteed modified whole life insurance is focused on final expense and burial insurance.

  • Lifetime protection
  • Cash value accumulation
  • Up to $50,000 of coverage
  • Ages 45 – 80 depending on what state you reside in
  • Fixed premium
  • Fixed death benefit
  • 2 year graded death benefit

High Benefit Whole Life

Physicians Life high benefit cash value life insurance is focused on replacing income, covering a mortgage, protecting an estate and leaving a legacy.

The best whole life insurance companies provide lifetime coverage that also provides an additional source of income in retirement.

  • Lifetime protection
  • Cash value growth
  • Up to $2,000,000 of coverage
  • Ages 22 – 80 depending on term lengths
  • Fixed premium
  • Fixed death benefit
  • Coverage begins from day 1

Juvenile Whole Life Insurance

Physicians Life also provides life insurance for children.

  • Ages 14 days to 12 years old
  • $5,000 to $10,000 coverage available
  • Coverage automatically doubles at age 21
  • At ages 22 and 27 child can add additional coverage up to $100,000
  • Cash value accumulation
  • Fixed premiums

Physicians Life Insurance Company Rates

The following life insurance rate chart is based on Physicians Life’s Guaranteed Acceptance Modified Whole Life Insurance rates as of April 2017. Rates are for informational purposes only, are subject to change and must be qualified for.

Female Age $5,000 $10,000 Male Age $5,000 $10,000
45 18.85 33.70 45 21.85 39.70
50 19.10 34.20 50 22.10 40.20
55 19.35 34.70 55 22.70 41.40
60 23.10 42.20 60 27.30 50.60
65 25.60 47.20 65 32.30 60.60
70 33.10 62.20 70 40.20 76.40
75 42.70 81.40 75 53.95 103.90
80 62.30 120.60 80 100.74 142.20

Physicians Life Insurance Company Review Conclusion

Physicians Life offers a great product line, covering many insurance needs. Further, the company has fantastic ratings with both A.M. Best and the BBB. However, Physicians Life is but one company of many.

How do you know if you are getting the best company and policy?

At TermLife2Go, we focus on each company’s unique niche so that we can align each client with the company that best fits that client’s specific need, health and lifestyle. It may be that Physicians Life is the best company for you. However, we can shop around for you and let you know if there is a better option for you-based on your unique health and lifestyle profile.

So, what are you waiting for?  Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!

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