Homesteaders Life Company(lowa) company details, contact, FAQ’s and more

Homesteaders Life Company is a reputable insurance provider specializing in funeral insurance and pre-need funeral planning. With a rich history dating back over a century, Homesteaders offers customized insurance solutions to funeral professionals and policyholders.

Their commitment to customer service, innovative solutions, and strong partnerships with funeral homes makes them a trusted choice for those looking to plan ahead and ensure their loved ones are well cared for during difficult times.

Based in West Des Moines, Iowa, Homesteaders continues to lead the way in providing valuable, forward-thinking funeral insurance options to meet the evolving needs of individuals and families.

An image illustration of Homesteaders Life Company
Homesteaders Life Company
Credit; Freepik

Homesteaders Life Company provides

Exceptional Customer Care

Our proficient customer service team excels in resolving queries on the very first call with their extensive experience and expertise.

Dedication to Safety and Reliability

Our commitment to client families is unwavering. We uphold stringent financial practices to guarantee the fulfillment of our promises for years to come

Quick and Effortless Claims Process 

Our user-friendly services, including the unique Instant Claims, Phone-a-Claim, and EFT payment choices, expedite policy payouts, frequently within the same day.

Comprehensive Marketing Solutions

We provide customers with the freedom to choose from over 40 leading marketing organizations, enabling them to select the program that best suits their specific market needs.

Top-Tier Sales Assistance

Our account executives foster enduring relationships with our clients, crafting customized solutions that harmonize with their distinct business requirements.

Versatile and Varied Product Portfolio

Our product development takes a holistic approach, striking the right balance between security and profitability to provide optimal solutions for funeral homes, agents, and client families.

Thorough Training Programs

Our commitment to comprehensive training means that funeral professionals receive ongoing support to generate leads, effectively manage their businesses, and stay current with state CEU requirements.

Frequently Asked Questions(FAQ’s)

How can I get information about my Homesteaders policy?

You can reach our customer service team at (800) 477-3633 during our business hours, which are from 8 a.m. to 4 p.m. Monday through Thursday and 8 a.m. to 1 p.m. on Fridays (Central time).

What are my payment options with Homesteaders?

You have the choice of making a single upfront payment for your insurance policy, resulting in a paid-up policy. Alternatively, depending on specific eligibility criteria, you may opt to spread the payments over several years, such as three, five, or ten years.

If I choose the multiple payment option, can I decide to pay off the policy at a later date?

Homesteaders provides an early pay-off option, with potential additional fees depending on the timing of your final payment received in our office. For specific details, please consult the welcome letter included with your insurance policy.

What if I want to make a change to my funeral plan?

Modifications to your funeral plan might necessitate adjustments to your Homesteaders insurance policy. We advise reaching out to the funeral home initially to communicate any desired alterations to your funeral plan. Subsequently, the funeral home will coordinate with Homesteaders to evaluate the potential effects of these changes on your insurance policy.

How do I reinstate my insurance coverage if my policy has lapsed?

To reinstate your lapsed policy, if it’s been under 120 days, send a payment with policy details. For over 120 days, a reinstatement form from our website, plus payment, is required. Coverage reinstatement is subject to approval upon receiving both the overdue premium and completed application.

Homesteaders report

Impact

Every day, we seek opportunities to make a lasting, positive impact. Homesteaders collaborates with professionals and families to enhance connections and promote funeral planning.

We’re dedicated to evaluating our efforts, driving innovation, and achieving meaningful results. In 2022, we expanded our funeral home network and strengthened partnerships with top marketing organizations.

Foward momentum

In 2022, Homesteaders achieved record sales volume and robust profits, despite facing challenges in recent years. The company maintained its focus on infrastructure and operational improvements, setting the stage for future growth and innovation.

The investments made in recent years are now yielding results for partners, agents, and funeral home customers. As we enter our 118th year, we do so with considerable momentum and a fresh dedication to assisting families in creating meaningful farewells for their loved ones.

Tools and partners

Homesteaders’ commitment to sustained growth entails an innovative approach to improving our resources and services for the benefit of our customers.

Throughout 2022, we built upon and extended successful programs while reinforcing valuable partnerships that cater to the requirements of both businesses and families. By collaborating effectively, we maintained our positive trajectory towards achieving our common objectives.

Results

In 2022, Homesteaders excelled in serving our customers. Our dedicated teams managed record numbers, handling nearly 170,000 customer calls and increasing digital transactions.

We invested in infrastructure enhancements for user-friendly online services. Agent training led to larger policies and high satisfaction. Maintaining a 99% customer satisfaction rating reinforced Homesteaders’ reputation for exceptional service, with 82% of customers likely to recommend us.

Homesteaders company provisions

Preneed Funding: This insurance type covers the expenses associated with a future funeral service and related items, allowing policyholders to secure current pricing and shield against inflation.

It also guarantees that the funeral home will receive payment when the service is required, easing the financial burden on the family.

Marketing Support: Homesteaders Life Company collaborates with marketing organizations and funeral professionals, offering a range of tools and resources to help them extend their reach to more families and enhance preneed sales.

Among these resources is eFuneral Partner, a platform designed for online funeral sales capture; Homesteaders Solutions, a collection of software applications streamlining preneed administration; as well as diverse training and educational programs.

Conventional Loan Program: Homesteaders Life Company now extends a new service to funeral businesses seeking capital for expansion, renovation, acquisition, or debt consolidation. This program features competitive interest rates, flexible terms, and the absence of prepayment penalties.

Homesteaders Life Company corporate information

History and Establishment: Homesteaders Life, established 1906, began as a fraternal society providing final expense insurance to members.

Leadership and Governance: Steve Shaffer is the CEO and Board Chair, leading an executive team and 11-member Board of Directors.

Annual Performance Report: Yearly performance reports on the website showcase accomplishments in 2022.

Financial Stability and Market Presence: Rated A- by A.M. Best, Homesteaders operates in the $100-$500 million revenue bracket with 100-500 employees. Claimed to be the most-used preneed funding company in America.

Homesteaders Life Company intermediaries

Local Agent Search: Locate nearby agents via the website’s ZIP code-based account executive locator.

Agent Requirements and Resources: Agents need state licensure, company appointment, and must complete training and certification exams. Access resources on their agent resources page.

Agent Feedback: Reviews on Indeed.com highlight pros such as flexible schedules and marketing support, and cons including payment delays and policy changes.

Broker Partnerships: Homesteaders collaborates with marketing organizations and brokers like Funeral Directors Life Insurance Company, The Outlook Group, Precoa, Security National Life Insurance Company, and The Beneficiary Liquidity Plan. These partners offer benefits like lead generation, sales training, marketing materials, and customer service. Homesteaders also provides a new conventional loan program for funeral businesses requiring capital for expansion, renovation, acquisition, or debt consolidation.

Homesteaders Life Company contact

Company Name HOMESTEADERS LIFE COMPANY
Physical Address 5700 Westown Parkway, West Des Moines, Iowa 50266
Mailing Address P.O. Box 1756, Des Moines, Iowa 50306-1756
Toll-Free Phone 800-477-3633
Local Phone 515-440-7777
Customer Service FAX 515-440-7695

Homesteaders Life Company legal and regulatory affairs

  • Licensing Information: Homesteaders Life Company is a mutual organization operating in 49 states and the District of Columbia, excluding New York. NAIC number: 64505, FEIN number: 42-03166003, Headquarters: 5700 Westown Parkway, West Des Moines, IA 50266.
  • Regulatory Standing: The company holds an A- (Excellent) rating from A.M. Best Company, reflecting its strong financial position and adherence to industry best practices. This rating was affirmed in May 2023.
  • Privacy Policy: Homesteaders Life Company maintains a detailed privacy policy outlining its practices for handling personal information, including compliance with the California Consumer Privacy Act (CCPA). The policy can be found on the company’s website.
  • Terms of Use: The company has established terms of use governing website usage, addressing content ownership, user conduct, disclaimers, and arbitration agreements. These terms are accessible on the official website.

Extension and terminations

Policy Renewal:

  • Policy renewal with Homesteaders Life Company depends on your chosen payment option: a single upfront payment or payments over a specified period (e.g., three, five, or 10 years).
  • For multiple payment options, an early pay-off feature is available, with potential additional fees based on the final payment’s timing.

Cancellation Policy:

  • Cancellation terms vary based on your state and policy conditions.
  • Typically, you can cancel within a specific period post-purchase for a full premium refund.
  • Afterward, cancellation may result in charges like surrender or administrative fees, affecting cash value or nonforfeiture benefits.
  • Cancellation within 30 days of a credit card payment can lead to the refund of security and delivery fees.

Grace Periods:

  • Homesteaders Life Company generally offers a 30-day grace period beyond the premium due date.
  • During this time, the policy remains in effect even if a payment is missed.
  • Extenuating circumstances, like natural disasters or public emergencies, may lead to grace period extensions for affected policyholders. Proof of hardship or impact is required for extensions.
  • Notably, the company extended grace periods during the COVID-19 pandemic for New Jersey residents and in response to catastrophic storms in western Alaska.

Homesteaders Life Company occupation and providers

Job Openings: Homesteaders Life Company, headquartered in West Des Moines, Iowa, is actively recruiting for two positions: Operations Manager – Domani and Business Analyst. Embracing a hybrid work model, the company offers flexible schedules tailored to each department’s needs. Comprehensive details and online applications can be found on their careers page.

Internship Opportunities: Homesteaders Life Company presents paid internship roles across diverse departments such as IT, graphic design, and planning and development. Internships can be remote, in-person, or hybrid, involving focused projects within the chosen field. Each intern receives mentorship from a company leader. Explore current openings on their internships page.

Employee Benefits: Homesteaders Life Company ensures its staff receives competitive compensation, professional growth prospects, and an array of benefits. These include a 401(k) plan with company match, group medical and dental insurance, paid family leave, identity theft protection, and more. The company promotes employee well-being through health programs and an employee assistance program.

Company Culture: At Homesteaders Life Company, a people-centric ethos thrives, rooted in core values like service, humility, and dedication. Recognized as a top workplace in both the USA and Iowa, the company fosters a warm, innovative, and supportive environment. Employees often describe the workplace as family-oriented, friendly, and inspiring. The company’s mission revolves around enhancing farewells, benefiting loved ones.

Homesteaders Life Company community involvement activities

Charitable Initiatives: Homesteaders maintains a robust corporate giving program, focusing on supporting charities and nonprofits in central Iowa. Beneficiaries include Meals from the Heartland, Habitat for Humanity, Alzheimer’s Association, American Heart Association, and United Way.

The company not only contributes financially but also encourages employee volunteering, matching their donations to eligible nonprofits.

Environmental Efforts: Homesteaders is dedicated to environmental conservation. Measures include LED lighting installation, low-flow faucets, and motion sensors, recycling initiatives, and electronic delivery of policy documents. The company actively participates in the Green Business Partnership, enhancing its environmental performance and sustainability practices.

Community Involvement: Homesteaders serves its community as a valuable resource. They provide free presentation kits for funeral professionals, aiding in successful group presentations on topics like preneed funding and veteran benefits. Homesteaders sponsors events such as the Iowa Funeral Directors Association Convention and supports initiatives like the Funeral Service Foundation Golf Classic. Moreover, the company offers charitable donations, recognition awards, and scholarships to aspiring and existing funeral service professionals.

If interested, you can also obtain insurance coverage through our website

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