Encova Life Insurance Company (OH), established in 2019, emerged from the rebranding of Motorists Life Insurance Company, a company with roots dating back to its founding in 1927.
It operates as a wholly-owned subsidiary of Encova Insurance, a super-regional insurance carrier headquartered in Columbus, Ohio.
Notably, Encova Insurance is a mutual insurance company, signifying ownership by its policyholders.
Contact Details
| Company Name | Encova Life Insurance Company |
|---|---|
| Headquarters Address | 471 E. Broad St. Columbus, OH 43215 |
| Phone Number | 888-876-6542 |
Encova Life Insurance Company Services and Products:
Services:
Policy administration:
The Company assists policyholders in managing their policies, including coverage adjustments, premium payments, and claims processing.
Financial planning:
The company offers support in creating financial plans to achieve various goals, such as family security and retirement funding.
Customer service:
Provides 24/7 customer service to address policy-related questions and concerns.
Products:
Term life insurance:
Offers financial protection for specific timeframes, ideal for temporary coverage needs, like protecting a family with young children or paying off a mortgage.
Whole life insurance:
Provides lifelong coverage and accumulates cash value, suitable for those seeking permanent coverage and savings.
Universal life insurance:
Flexible coverage and cash value options, catering to individuals who want lifelong coverage with adjustable benefits over time.
Variable life insurance:
Invests cash value in sub-accounts tracking stock market indices, offering potential for higher returns with increased risk.
Guaranteed issue life insurance:
Designed for individuals with health conditions who may not qualify for other life insurance types, offering lower coverage limits and higher premiums.
Rider Options:
- Accidental death benefit: Offers a death benefit in the event of an accidental death.
- Living benefits: Allows access to the death benefit while the policyholder is alive, helpful for covering medical expenses or long-term care.
Encova Life Insurance Company boasts a strong reputation, backed by a history of customer service excellence.
Its diverse range of life insurance products and services caters to the specific needs of both individuals and businesses, making it a worthwhile choice for those considering life insurance.
Encova Life Insurance Company Claims Process:
Efficient and Streamlined:
Offers a straightforward and expedited claims process for its policyholders.
Filing a Claim:
- To initiate a claim, you can contact Encova Life through their customer service number or submit a claim online.
- When contacting them, a customer service representative will request essential information, such as your policy number and the date of death.
- You’ll be connected to a claims specialist who guides you through the process and addresses your queries.
Online Claim Submission:
- If you choose to submit a claim online, you’ll provide the same information as in a phone call.
- Additionally, you’ll need to upload relevant documents, including the death certificate.
Claims Specialist Assistance:
- Once your claim is filed, a dedicated claims specialist is assigned to your case.
- They collaborate with you to collect any required additional documentation.
- After claim approval, Encova Life promptly issues payment to you or your beneficiary.
Fast and Efficient Process:
- Encova Life’s claims process is known for its speed and efficiency, with most claims being processed and approved within a few weeks.
- However, some complex claims may require additional processing time.
Overview of Claims Process:
- File a claim: Initiate the process by either contacting customer service or submitting a claim online.
- Provide necessary information: Furnish basic details, such as policy number, date of death, and upload the death certificate.
- Collaborate with a claims specialist: A dedicated specialist helps gather any additional required documentation.
- Claim approval: Upon approval, Encova Life releases payment to you or your beneficiary.
Financial Details:
- In 2022, Encova Life Insurance Company exhibited strong financial stability with a surplus exceeding $1.46 billion and assets totaling over $4.1 billion.
- The company holds an impressive A+ (Superior) rating from A.M. Best, a leading rating agency in the insurance industry.
Ratings:
- Encova Life Insurance Company maintains a superior rating of A+ from A.M. Best and an excellent rating of A- from Standard & Poor’s.
- These ratings affirm Encova Life’s financial solidity and its robust capacity to meet policyholder obligations.
Cancellations and Renewals:
- Policyholders can cancel their Encova Life insurance policies at any time, but a cancellation fee may apply.
- To cancel a policy, a written request must be submitted to Encova Life.
- Encova Life insurance policies are typically renewed annually, with renewal notices sent out several weeks before the policy’s expiration.
- Renewal premiums can be paid online, by mail, or by phone.
Affiliates and Partnerships:
- Encova Life Insurance Company is a member of the Encova Insurance group, which also encompasses workers’ compensation insurer Motorists Mutual Insurance Company and property and casualty insurer Encova Mutual Insurance Company.
- Additionally, Encova Life maintains partnerships with various independent insurance agencies, serving as distributors for its products.
Customer Reviews:
- Encova Life Insurance Company enjoys a positive reputation among its customers.
- Customers often commend the company for its competitive rates, friendly customer service, and efficient claims processing.
FAQs
- Is Encova Life Insurance Company a legitimate company?
Yes, Encova Life Insurance Company is a legitimate company.
It is a wholly-owned subsidiary of Encova Insurance, a super-regional insurance carrier based in Columbus, Ohio.
Encova Life is rated A+ (Superior) by A.M. Best, one of the leading rating agencies for the insurance industry.
- What are the benefits of Encova Life insurance?
There are a number of benefits to choosing Encova Life Insurance Company, including:
- competitive rates,
- a wide range of products to choose from,
- a financially sound company with a strong track record,
- a streamlined claims process,
- friendly customer service.
How do I file a claim with Encova Life Insurance Company?
To file a claim with Encova Life Insurance Company, you can call Encova Life’s customer service number or submit a claim online.
Encova Life will assign a claims specialist to your case and work with you to gather the necessary documentation.
Once the claim is approved, Encova Life will issue a payment to you or your beneficiary.
- Can I cancel my Encova Life insurance policy at any time?
Yes, you can cancel your Encova Life insurance policy at any time. However, you may be subject to a cancellation fee.
To cancel your policy, you must submit a written request to Encova Life.
Eric White
CURRENTLY
Content Writer, Insurance Insights
RESIDES IN
Texas
EDUCATION
University of Texas
EXPERTISE
Insurance Writing, Risk Management, Claims Assessment, Customer Education
Summary
Eric White, a proficient Content Writer at Insurance Insights, brings a unique perspective to the insurance industry. With a solid foundation in insurance writing, risk management, claims assessment, and customer education, Eric plays a pivotal role in creating insightful and accessible content.
Having spent years exclusively writing for TripAdvisor, Eric possesses a deep understanding of how to communicate complex insurance concepts to a broad audience. His focus on customer education ensures that insurance information is not only accurate but also easily understandable for everyone.
Experience
Eric’s professional journey revolves around his commitment to the insurance sector. As the sole content contributor for TripAdvisor, he has successfully translated intricate insurance details into engaging and comprehensible content.
Based in Texas, Eric contributes significantly to Insurance Insights, leveraging his expertise to provide valuable insights into the world of insurance. His dedication to making insurance-related topics accessible sets him apart in the industry.
Education
Eric White earned his educational credentials from the University of Texas, where he honed his skills and gained in-depth knowledge of insurance writing, risk management, and claims assessment. His commitment to staying at the forefront of industry trends ensures that he continues to be a valuable asset to the insurance field.
Eric has won various awards like
- Insurance Insight Pioneer Award:
- Acknowledging Eric’s groundbreaking work in transforming insurance writing and making it accessible to a wider audience.
- Customer Education Excellence:
- Recognizing Eric’s dedication to educating customers about insurance concepts, contributing to a more informed audience.
- Risk Management Luminary:
- For Eric’s outstanding contributions in the field of risk management, ensuring a comprehensive understanding of potential insurance risks.