Heritage Life Insurance Company, founded in 1957, specializes in life and disability coverage.
Over the years, they’ve nurtured strong relationships with international banks, credit facilities, financial giants, and industry service providers.
They maintain an affiliation with the Federal Home Loan Bank of Dallas;
Which Congress established in 1932 as part of the Federal Home Loan Bank System.
Heritage Life Insurance Company Overview
Strong Financial Foundation:
As of 12/31/20, Heritage boasted approximately $7.3 billion in total assets and over $1 billion in adjusted capital.
This positions them within the top 100 U.S. life insurance companies.
Their robust capital base empowers them to expand our client base effectively.
Proven Client Satisfaction:
Since 2012, Heritage has delivered over $2 billion in policyholder benefit payments, showcasing a consistent track record of timely client service.
Over the last five years, Heritage has generated around $335 million in net income, demonstrating strong operational performance that underpins our ability to serve clients in the long run.
Heritage, as a licensed U.S. life insurance company, submits regular financial statements to insurance regulators, audited annually by a “Big Four” public accounting firm.
Additionally, they undergo periodic financial examinations conducted by their regulatory authority in Arizona.
Key Industry Relationships:
Heritage maintains financial ties with leading international banks, possesses credit facilities with major financial institutions.
They collaborate with recognized service providers in the industry.
Heritage is also a prominent life insurance member of the Federal Home Loan Bank of Dallas, a segment of the Federal Home Loan Bank System established by Congress in 1932.
With substantial adjusted capital reserves, Heritage excels in assisting companies with capital strain resulting from sales growth, lowering capital expenses;
Enhancing equity returns, and mitigating risk by reducing exposure to concentrated life and annuity product portfolios.
Apart from reinsurance, Heritage excels in tailoring solutions for niche markets using annuities to fund non-qualified structured settlements, attorney fee award deferrals;
And non-qualified tort settlements with potential tax advantages for recipients.
Heritage Life Insurance Company Subsidiaries
Heritage Life Insurance Company of the Americas, Ltd.
Professional Life & Casualty Company
Hlic Vehicle, LLC
Groverton Insurance Agency LLC
USFL Life Re Company
Seward H Holdings Inc.
Hlic Re Holdings, LLC
U.S. Financial Life Insurance Company
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Heritage Life Insurance Contact Details
Heritage Life Insurance Company
227 W Monroe St, Suite 3775
Chicago, IL 60606
Mailing Address for General Correspondence:
U.S. Financial Life Insurance Company
P.O. Box 3016 Monroe, WI 53566-3016
Mailing Address for Premium Payments:
U.S. Financial Life Insurance Company
P.O. Box 740016 Cincinnati, OH 45274-0016
Heritage Life Insurance Company Coverage Options
Here’s a concise list of life insurance coverage types for your review:
Term Life Insurance: Provides coverage for a set period, offering a death benefit if the insured passes away during that time.
Whole Life Insurance
Offers lifelong coverage with a guaranteed death benefit and potential cash value accumulation.
Universal Life Insurance
A flexible policy combining life insurance with investment components, featuring adjustable premiums and potential cash value growth.
Variable Life Insurance
Merges life insurance with investment choices, allowing policyholders to invest in various funds to potentially increase cash value.
Designed to cover end-of-life expenses like funerals and debts, offering financial relief to loved ones.
Mortgage Protection Insurance
Ensures the outstanding mortgage balance is paid off upon the insured’s passing, allowing loved ones to retain their home.
Typically offered by employers, providing life coverage to a group of employees or members.
Covers accidental death or serious injuries leading to dismemberment or loss of certain bodily functions.
Indexed Universal Life Insurance (IUL)
Combines universal life insurance flexibility with potential interest crediting based on market index performance.
Survivorship Life Insurance (Second-to-Die)
Covers two individuals, usually spouses, paying out the death benefit after the second insured person passes away, often used for estate planning.
Heritage Life Insurance Company Discounts
Multi-Policy Discount: Combine life insurance with other policies for savings.
Healthy Lifestyle Discount: Lower rates for maintaining a healthy lifestyle.
Non-Smoker Discount: Non-smokers enjoy reduced premiums.
Annual Payment Discount: Pay annually instead of monthly for potential savings.
Loyalty Discount: Long-term policyholders may receive loyalty rewards.
Good Health Discount: Lower rates for demonstrating good health.
Safe Habits Discount: Showcase safe habits for discounted rates.
Family Coverage Discount: Insure multiple family members for potential savings.
Online Enrollment Discount: Enroll and manage your policy online for savings.
Early Enrollment Discount: Lock in lower rates by starting coverage at a young age.
Preferred Occupation Discount: Certain professions may qualify for special rates.
Heritage Life Insurance Company Competitors
- Prudential Financial
- New York Life
- Northwestern Mutual
- Lincoln Financial Group
- MassMutual (Massachusetts Mutual Life Insurance Company)
- State Farm
- Guardian Life Insurance
Heritage Life Insurance Company Claims Process
Ease of Filing a Claim
Heritage Life Insurance offers a user-friendly claims process with multiple channels for filing claims, including an online portal, phone support, and mobile apps.
This flexibility ensures you can choose the method that suits your preferences.
Average Claim Processing Time
Heritage Life Insurance is committed to efficient claim processing, ensuring timely assistance to policyholders.
The average claim processing time reflects their dedication to prompt resolutions.
Customer Feedback on Claim Resolutions and Payouts
They actively seek input to enhance the fairness and efficiency of their claims process, ensuring a positive experience for policyholders.
Heritage Life Insurance Digital & Technological Features
Mobile App Features and Functionality
Heritage Life Insurance mobile app, available for both Android and iOS, empowers policyholders to manage their policies, file claims, and access resources conveniently.
Online Account Management Capabilities
Policyholders enjoy 24/7 access to an online portal for efficient policy management, including payments and real-time claims tracking.
Digital Tools and Resources
Heritage Life Insurance offers a suite of digital tools and resources, including informative materials and interactive tools to aid policyholders in making well-informed decisions about their coverage.
Heritage Life Insurance Company Ratings & Reviews
Average Monthly Rate for Healthy Individuals: Not Applicable
A.M. Best Rating: A
Complaint Level: Low
- Offers a wide range of insurance and financial products.
- Boasts a strong history and reputation.
- Policies are customizable to fit individual needs.
- Positive customer reviews and responsive support.
- Efficient claims processing.
- Rates may vary depending on coverage and individual circumstances.
- Limited online quoting options; personalized quotes require contact.
Frequently Asked Questions
What types of life insurance policies does Heritage Life Insurance Company offer?
Heritage offers a range of life insurance policies, including term life, whole life, and universal life insurance.
Can I customize my life insurance coverage with Heritage to fit my specific needs?
Yes, Heritage provides flexible policies that can be tailored to your unique requirements, ensuring you have coverage that suits your financial goals.
How do I request a life insurance quote from Heritage Life Insurance Company?
You can easily request a life insurance quote by visiting their website or reaching out to their customer support team.
What are the benefits of bundling life insurance with other insurance policies with Heritage?
Bundling multiple insurance policies with Heritage may lead to significant savings through multi-policy discounts.
How long does it take to process a life insurance claim with Heritage?
Heritage aims to make the claims process as efficient as possible, with their customer support team guiding you through each step. The processing time may vary depending on the nature of the claim.
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