Is LifeShield Insurance legit? A Comprehensive Review

LifeShield is an insurance company that offers a variety of products to individuals and groups across the United States.

But how reliable and trustworthy is this company?

An image to illustrate my target key phrase: Is LifeShield Insurance legit? — In this article, we will evaluate the legitimacy of LifeShield insurance based on its history, financial strength, product offerings, customer reviews, and complaints. (Courtesy: Freepik.com)

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Company Overview

LifeShield was founded in 1982 as Chesapeake Life Insurance Company.

In 2018, it changed its name to LifeShield National Insurance Company and became a subsidiary of Midland National Life Insurance Company.

LifeShield has an A+ rating from AM Best, which indicates a superior ability to meet its ongoing financial obligations.

LifeShield has also received several awards and recognitions, such as the 2020 Stevie Award for Sales and Customer Service and the 2019 Best Places to Work in Oklahoma.

Insurance Products

LifeShield offers four types of insurance products: life insurance, health insurance, final expense insurance, and Medicare supplement insurance.

Each product has its own features and benefits, such as:

Life insurance: LifeShield offers individual and joint life insurance policies that provide a death benefit to the beneficiaries in case of the insured’s death. The premiums are guaranteed to never increase and the death benefits are guaranteed to never decrease.
Health insurance: LifeShield offers accident and health insurance policies that cover medical expenses in case of an accident or a critical illness. The policies can help reduce the financial impact of unexpected medical bills and provide peace of mind. The policies are renewable and portable, meaning they can be continued even if the insured changes jobs or retires.
Final expense insurance: LifeShield offers final expense insurance policies that cover the costs of funeral and burial services, as well as other end-of-life expenses. The policies are designed for older people who want to leave a legacy for their loved ones and avoid burdening them with debt.
Medicare supplement insurance: LifeShield offers Medicare supplement insurance policies that fill in the gaps of the original Medicare plan, such as copayments, coinsurance, and deductibles. The policies can help lower the out-of-pocket costs of Medicare beneficiaries and provide more coverage options.

To apply for any of these products, applicants need to meet the eligibility criteria and fill out an online or paper application form.

The applicants may also need to provide some personal and medical information, depending on the product and the coverage amount.

The application process may take a few days or weeks, depending on the underwriting and approval processes.

Customer Reviews and Complaints

LifeShield has received mixed customer feedback on various platforms, such as Trustpilot, BBB, and Consumer Affairs.

Some customers have praised the company for its affordable rates, easy application process, friendly customer service, and prompt claim payment.

However, some customers have also complained about the company’s poor communication, misleading sales practices, policy cancellation issues, and claim denial or delay.

Legitimacy Assessment

Based on the information presented above, we can conclude that LifeShield is a legitimate insurance company that has been in business for over 40 years and has a strong financial rating and reputation.

The company offers a variety of insurance products that can suit different needs and budgets.

However, the company also has some drawbacks, such as customer dissatisfaction, negative reviews, and complaints.

Therefore, potential customers should do their research and compare different options before choosing LifeShield as their insurance provider.

How do I file a claim with LifeShield?

Filing a claim with LifeShield is a straightforward process. Here are the steps you need to follow:

Contact LifeShield’s customer service at 1-800-792-4440 or email them at claims@lifeshieldnational.com to notify them of your intention to file a claim. They will provide you with the necessary forms and instructions to proceed with your claim.
Gather the required documents to support your claim. These typically include the policyholder’s death certificate, the original insurance policy, identification documents, and any other supporting documentation that may be required by LifeShield.
Fill out the claim form and attach the required documents. Make sure to provide accurate and complete information to avoid any delays or errors in the claim process.
Submit the claim form and the documents to LifeShield by mail, fax, or email. The contact details are as follows:

Mail: LifeShield National Insurance Co., P.O. Box 1604, Duncan, OK 73534
Fax: 1-877-226-0925
Email: claims@lifeshieldnational.com

Wait for LifeShield to review and process your claim. This may take a few days or weeks, depending on the complexity and validity of your claim. LifeShield will notify you of the status and outcome of your claim by mail, phone, or email.
You will receive the death benefit if your claim is approved. LifeShield will pay the death benefit to the beneficiary or beneficiaries named in the policy. The payment method may vary depending on the policy and the beneficiary’s preference. The payment options may include a lump sum, an annuity, or a bank deposit.

Conclusion

LifeShield is an insurance company that offers life, health, final expense, and Medicare supplement insurance products.

The company has a long history, a high financial rating, and several awards and recognitions.

However, the company also has some customer issues and concerns that may affect its credibility and trustworthiness.

Therefore, we recommend that potential customers weigh the pros and cons of LifeShield and make an informed decision based on their own needs and preferences.