Greater Georgia Life Insurance Company, Georgia: Overview, Headquarters, Phone Number, Email Address, Finances, Services, Claims & Coverage

Caring for Georgia Lives: Your Trusted Insurance Partner.

An image illustration of Greater Georgia Life Insurance Company
Your Trusted Georgia Life Insurance Provider – Greater Georgia Life Insurance Company.

If you’re searching for a dependable and budget-friendly life insurance provider in Georgia, consider Greater Georgia Life Insurance Company.

They’ve been serving Georgia residents since 1982, offering various life insurance products and services.

In this blog post, we’ll delve into the company’s history, financial details, coverage options, claims process, and customer feedback.

We’ll also provide essential contact information for your convenience.

Company Overview

History and Founding Year:

Greater Georgia Life Insurance Company, a subsidiary of Blue Cross and Blue Shield of Georgia, itself a subsidiary of Anthem, one of the largest health insurance companies in the U.S., has been in operation since 1982.

Initially, it was a mutual insurance company owned by policyholders, but in 1996, it transitioned into a stock company and joined Blue Cross and Blue Shield of Georgia.

The company is headquartered in Atlanta, Georgia.

CEO and Leadership Team:

Richard D. Shirk has served as the CEO and chairperson of Greater Georgia Life Insurance Company since 2019.

He also holds the position of president of Anthem’s East Region and Specialty Business.

The company’s leadership team comprises experienced professionals from various fields, including finance, marketing, operations, legal, and human resources.

Greater Georgia Life Insurance Company holds a substantial market share in Georgia.

Market Share and Company Size:

In 2020, the National Association of Insurance Commissioners reported the company’s total direct premium written at $1.2 billion, ranking it 11th among all life insurers in the state.

The company’s total assets were $4.7 billion, with total liabilities at $4.3 billion.

The company employs around 1,750 people across its Georgia offices and branches.

Company Contacts

Here is some essential contact information for Greater Georgia Life Insurance Company:

Contact Information Details
Phone Number (404) 842-8000
Address 3 Ravinia Dr Ste 1700 Atlanta, GA 30346-2133
Customer Service Contact (800) 633-4368
Policy Details Varies based on policy type and term
Email Address customerservice@greatergeorgialife.com
Fax Number (404) 842-8100
Operating Hours Monday to Friday, 8:00 a.m. to 5:00 p.m. ET

 

Services & Products

Greater Georgia Life Insurance Company offers a variety of life insurance products and services, including:

  1. Term life insurance: This type of insurance provides coverage for a specific period, typically 10 to 30 years. If the insured passes away during the term, the beneficiary receives the death benefit.
  2. Whole life insurance: This permanent insurance provides coverage for the insured’s entire life. It also accumulates cash value over time, offering stability and benefits.
  3. Universal life insurance: Another permanent option with cash value accumulation, universal life insurance provides more flexibility and control over premium payments and coverage customization.
  4. Special packages: These include group life insurance for employers and employees, accidental death and dismemberment (AD&D) insurance, and supplemental health insurance.
  5. International coverage: Greater Georgia Life Insurance Company provides international coverage for travelers or expatriates, in partnership with GeoBlue.
  6. Temporary policies: Short-term policies are available for specific needs, like travel or mortgage protection.

Financial Details

Greater Georgia Life Insurance Company maintains a strong financial position in the industry:

  • Premium costs: Premiums vary based on policy type, term, coverage amount, and individual factors like age, health, and gender. Competitive rates, especially for term life insurance, are offered.
  • Payment options: The company provides multiple payment options, including monthly, quarterly, semi-annual, or annual payments, with various payment methods. A 31-day grace period for late payments ensures policy continuity without interest charges.
  • Discounts and promotions: Discounts for bundling policies, loyalty rewards, and preferred rates for low-risk customers are available. Special deals and incentives may also be offered.
  • Claim payout ratio: The company’s high claim payout ratio of 95.6% in 2020, exceeding the industry average of 92.4%, demonstrates reliability and commitment to fulfilling obligations.

Coverage Details

Greater Georgia Life Insurance Company offers comprehensive and flexible coverage options. Some considerations include:

  • Policy exclusions: Certain situations or circumstances, such as death within two years of policy issuance, war-related deaths, illegal acts, intoxication, or hazardous activities, may limit or exclude coverage.
  • Coverage limits: Age limits, face amount limits, and underwriting limits are common restrictions that affect policy eligibility and coverage amount.
  • Add-ons or riders: These options enhance or modify policy coverage. Examples include the waiver of premium rider, accelerated death benefit rider, accidental death benefit rider, child term rider, and guaranteed insurability rider.

Claims

The claim process for Greater Georgia Life Insurance Company involves these steps:

  1. Contact the insurance company or your agent to notify them of the insured’s death and request a claim form.
  2. Complete the claim form with necessary information, including policy number, beneficiary details, and the cause and date of death.
  3. Attach a certified copy of the death certificate and any requested documents, such as proof of relationship or identity.
  4. Submit the completed claim form and supporting documents to the company’s claims department.
  5. Wait for the company to review and approve your claim, with possible requests for additional information.
  6. Receive the death benefit payment through check, bank transfer, or an Access Advantage account, based on your preference and policy terms.

Document requirements for claims may vary depending on coverage type and amount but typically include:

  • A certified death certificate.
  • A completed claim forms.
  • Proof of relationship
  • Beneficiary identification.

Claim approval times typically fall within 30 to 60 days, with some factors potentially causing delays.

Legal & Compliance

Greater Georgia Life Insurance Company’s privacy policy details how they handle personal information when applying for or using their products and services.

The terms and conditions outline the agreement between you and the company when purchasing their products.

These documents cover various aspects, including eligibility, benefits, premium payments, renewal, cancellation, claims, dispute resolution, and legal notices.

Renewals & Cancellations

The renewal process for policies depends on the type and term of coverage.

Some policies renew automatically, while others require a new application or conversion to a different coverage type.

Cancellations vary by policy type and term, with potential fees or surrender periods.

The company provides a 31-day grace period for overdue premiums, after which coverage lapses.

Company Culture

Greater Georgia Life Insurance Company shares the vision, mission, values, and culture of its parent organizations, emphasizing factors like accessibility, innovation, integrity, and employee well-being.

Customer Experiences

Here are two customer reviews:

  1. Review 1: A satisfied customer of over 10 years commends the company’s responsiveness, professionalism, reasonable rates, and comprehensive coverage, giving it a 5-star rating.
  2. Review 2: An unhappy customer had a negative experience with cancellation, citing difficulties, fees, and refusal of refunds, resulting in a 1-star rating.

FAQs

Here are two frequently asked questions:

Q: How do I contact Greater Georgia Life Insurance Company?

A: You can reach Greater Georgia Life Insurance Company by phone at (404) 842-8000 or (800) 633-4368.

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