Capitol Life Insurance Company (Texas); Contacts, Services, Financials, Claims, Reviews and Benefits

Capitol Life Insurance Company sells a complete range of life insurance and annuity products in nine states and the District of Columbia.

Liberty Bankers Life Group acquired the company in 2007. The company is based in Texas, with its headquarters in Dallas, Texas.

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Capitol Life Insurance Company (Texas)

Capitol Life Insurance Company (CLIC) operates as a wholly-owned subsidiary of Liberty Bankers Life Insurance Company.

CLIC started in 1906 as the first charter in Colorado, and it became part of the Liberty Bankers Life Group in 2007.

The company is based in Texas, with its headquarters located in Dallas, Texas. CLIC offers a range of life insurance and annuity products in nine states and the District of Columbia.

Contact Details

Category Information
Address 1605 LBJ Freeway, Suite 700, Dallas, TX 75234
Phone (866) 237-3010
Fax (888) 525-5002
Website Capitol Life Insurance Company

Capitol Life Insurance Company (Texas): Services and Products

Capitol Life Insurance Company provides Medicare Supplement plans in Texas.

These plans assist in covering the out-of-pocket expenses linked to Medicare, like deductibles, copays, and coinsurance.

Additionally, Capitol Life offers various other products and services, which include dental, vision, and hearing insurance.

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Financial Details

Capitol Life Insurance Company has a robust financial standing and a well-regarded reputation. A.M. Best rates it as “A-” (excellent), and Demotech rates it as “A-” (superior).

In 2022, according to the National Association of Insurance Commissioners (NAIC), Capitol Life Insurance Company disbursed over $1 billion in benefits to its policyholders.

  • AM Best rating: A- (Excellent)
  • Financial Strength Rating (FSR) from Demotech: A (Exceptional)
  • Assets under management: $2.5 billion (as of December 31, 2022)

Claims Process, Cancellations and Renewals

To file a claim with Capitol Life Insurance Company, you can call the customer service number at (866) 237-3010.

A claims representative will assist you with the process and provide you with the necessary paperwork.

Cancellations

If you want to cancel your Capitol Life Insurance Company policy, you have the right to do so at any time.

To cancel your policy, you should inform the company in writing. You can achieve this by sending a letter to Capitol Life Insurance Company at P.O. Box 274127, Dallas, TX 75227.

If you cancel your policy and there’s an unused portion, Capitol Life Insurance Company will refund your premiums.

However, please note that if you decide to cancel your policy within the initial 60 days, the company might charge you a cancellation fee.

Renewals

Typically, Capitol Life Insurance Company policies can be renewed for one-year terms. Yet, some policies, like whole life insurance, can be renewed for a lifetime.

To renew your policy with Capitol Life Insurance Company, it’s as simple as making your premium payments on time.

However, be aware that if you miss a premium payment, your policy might lapse. In the event of a policy lapse, you may need to pay a reinstatement fee to get your policy back in force.

Affiliates and Partnerships of Capitol Life Insurance Company (Texas)

Capitol Life Insurance is a member of the Liberty Bankers Insurance Group.

The group also includes Liberty Bankers Life Insurance Company, American Benefit Life Insurance Company, and Home Service Life Insurance Company.

Customer Reviews

On Google, the company has received a rating of 3.0 out of 5 stars from one review. Meanwhile, on Clearsurance, it holds a 3.0 out of 5-star rating based on two reviews.

  • I have had Capitol Life Insurance for several years now and have been very happy with the service and coverage. My agent is always responsive to my questions and helps me to make sure I have the right coverage for my needs.” – Google review
  • I was very disappointed with the customer service I received from Capitol Life Insurance. My agent was unresponsive to my questions and I felt like I was not being taken seriously.” – Clearsurance review.

Benefits of Choosing Capitol Life Insurance Company (Texas)

  1. Financial Strength: Capitol Life Insurance Company is a financially strong and reputable company, rated “A-” (Excellent) by A.M. Best and “A-” (Superior) by Demotech, ensuring the security of your investments.
  2. Wide Range of Products: Capitol Life Insurance Company offers a diverse selection of life insurance and annuity products tailored to meet various customer needs.
  3. Competitive Rates: The company provides competitive rates on its products, ensuring you get value for your investment.
  4. Good Customer Service: Capitol Life Insurance Company is known for its excellent customer service, ensuring you receive assistance and support when needed.

Specific Benefits of Capitol Life Insurance Company’s Life Insurance Products:

  1. Financial Security for Loved Ones: In the event of your passing, your life insurance policy will pay a death benefit to your beneficiaries, offering financial support for expenses, debts, and the well-being of your loved ones.
  2. Tax Advantages: Life insurance proceeds are typically tax-free for your beneficiaries, minimizing the tax burden on your estate.
  3. Peace of Mind: Knowing you have life insurance coverage provides peace of mind, ensuring your loved ones’ financial security in the unfortunate event of your passing.

Specific Benefits of Capitol Life Insurance Company’s Annuity Products:

  1. Guaranteed Income Stream: Annuities offer a guaranteed income stream during retirement, providing financial stability and independence.
  2. Tax-Deferred Growth: Your annuity’s earnings grow tax-deferred, meaning you don’t pay taxes on your investment gains until you make withdrawals.
  3. Flexible Withdrawal Options: Annuities provide flexible withdrawal choices, allowing you to take money as a lump sum, in installments, or as a lifetime income stream, adapting to your financial needs and goals.

Quick Facts

  • Founded in 1906
  • Headquartered in Dallas, Texas
  • AM Best rating: A- (Excellent)
  • FSR from Demotech: A (Exceptional)
  • Assets under management: $2.5 billion (as of December 31, 2022)

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