Loyal American Life Insurance Company: History, Financial Strength, Products, Policyholders, Claims, and Customer reviews

Image of Loyal American Life Insurance Company
Infographic: Loyal American Life Insurance Company

If you are looking for a reliable and reputable insurance company that offers a variety of products and services, you might want to consider Loyal American Life Insurance Company.

Loyal American is a subsidiary of Cigna Corporation, one of the largest health service organizations in the world.

Loyal American Life Insurance Company2
Loyal American  Company

 

In this article, we will provide you with all the information you need to know about Loyal American Life Insurance Company, including its history, financial strength, products, policyholders, claims, and customer reviews.

About Loyal American Life Insurance Company

Loyal American Life Insurance Company was founded in 1955 in Alabama, and its headquarters is now in Austin, Texas.

The company specializes in supplemental health and life insurance products for individuals and groups.

Loyal American is licensed to operate in 49 states and the District of Columbia.

The company has a strong reputation for providing quality service and customer satisfaction.

Contacts of Loyal American Life Insurance Company

If you want to contact Loyal American Life Insurance Company, you can use the following information:

How to Join Loyal American Life Insurance Company? 

If you are interested in joining Loyal American Life Insurance Company as a policyholder or an agent, you can visit their website and fill out an online application form.

You can also call their toll-free number: 1-866-459-4272 or email: CSBService@Cigna.com for more information.

You will need to provide some personal and health information, as well as choose the plan that suits your needs and budget.

Partners and Collaborators of Loyal American Life Insurance Company

The Cigna Group Corporation is a part of the Cigna Life & Health Group, which consists of several other insurance companies that offer similar products and services.

Some of these affiliates and partners are:

Financial details of Loyal American Life Insurance Company

The Cigna Group Corporation has a strong financial position and performance.

The company has an A (Excellent) rating from AM Best, which indicates its ability to meet its ongoing insurance obligations.

The company also has a financial size category of XV, which means it has assets greater than or equal to $2 billion.

The company’s

  1. total assets as of December 31, 2020, were $4.6 billion,
  2. total liabilities were $3.9 billion.

The company’s net income for the year 2020 was $63.7 million.

What are the Services and products of Loyal American Life Insurance Company?

Services and products of Loyal American Life Insurance Company
Infographic: Services and products of Loyal American Company

 

Medicare Supplement (Medigap) Insurance Policies

These are plans that help pay some out-of-pocket costs that Original Medicare does not cover, such as

  1. deductibles
  2. copays
  3. coinsurance.

Loyal American offers several Medigap plans, such as:

  1. Plan A
  2. Plan F
  3. Plan G
  4. Plan N
  5. High Deductible Plan F and G.

Accident Expense Insurance

This is a plan that pays a lump sum benefit if you suffer an accidental injury that requires medical treatment or hospitalization.

You can use the benefit for any expenses related to the accident, such as ambulance fees, surgery costs, or lost wages.

Lump Sum Heart Attack and Stroke Insurance

This is a plan that pays a lump sum benefit if you are diagnosed with a heart attack or stroke.

You can use the benefit for any expenses related to the condition, such as:

  1. medical bills
  2. rehabilitation costs
  3. home modifications

Lump Sum Cancer Insurance

This is a plan that pays a lump sum benefit if you are diagnosed with cancer.

You can use the benefit for any expenses related to the disease, such as:

  1. chemotherapy
  2. radiation therapy
  3. alternative treatments

Cancer Treatment Insurance

This is a plan that pays a benefit for each day you receive cancer treatment at a hospital or facility.

You can use the benefit for any expenses related to the treatment, such as:

  1. travel costs
  2. lodging expenses
  3. childcare fees

Whole Life Insurance

This is a plan that provides lifetime coverage and builds cash value over time.

You can use the cash value for any purpose, such as paying off debts, funding education, or supplementing retirement income.

You can also borrow against the cash value or surrender the policy for its cash value.

Policyholders of Loyal American Life Insurance Company

The Cigna Group Corporation has a large and diverse customer base.

The company has over 1.2 million policyholders, and it pays over $1.4 billion in claims annually.

Furthermore, the company boasts an impressive policy renewal rate, with the majority of its customers opting to extend their policies each year.

This is a testament to the company’s dedication to delivering exceptional service and assistance to its policyholders. Among the advantages and attributes it provides are.

How does Loyal American Life Insurance Company handle claims?

The Cigna Group Corporation makes it easy and convenient for its customers to file and track their claims.

Submitting your claims is convenient and hassle-free with multiple options available.

Whether you prefer online, mail, fax, or phone submissions, the process is straightforward.

All you need to provide are essential details, including:

  1. your policy number
  2. personal information
  3. any relevant medical records or bills.

Rest assured, your claims will be processed efficiently, typically within 10 business days, and you’ll receive prompt confirmation via email or a confirmation letter.

To stay updated on your claim’s progress, simply check its status online or reach out to the dedicated customer service team via the provided phone number.

What Do Customers Say About Loyal American Life Insurance Company

The Cigna Group Corporation has received mostly positive feedback from its customers.

The company has an A+ rating from the Better Business Bureau, which indicates its commitment to resolving customer complaints and issues.

The company also has a 4.6 out of 5 stars rating from Trustpilot, which is based on over 1,000 reviews from verified customers.

Some of the common praises that customers have for the company are:

Some of the common complaints that customers have for the company are:

  • Delayed or denied claims
  • Difficulty in reaching a live representative
  • Lack of communication or transparency
  • Increase in premiums

Conclusion

The Cigna Group Corporation is a reputable and reliable insurance company that offers a variety of products and services for its customers.

The company has a strong financial position and performance, as well as a high customer satisfaction rate.

The company also has a wide network of affiliates and partners that enhance its offerings and reach.

If you are looking for an insurance company that can provide you with quality service and coverage, you might want to consider The Cigna Group Corporation.

Table of Facts about Loyal American Life Insurance Company

Fact Description
Founded 1955 in Alabama
Headquarters Austin, Texas
Parent Company Cigna Corporation
Products and Services Supplemental health and life insurance products for individuals and groups
Licensed States 49 states and the District of Columbia
AM Best Rating A (Excellent)
Financial Size Category XV (assets greater than or equal to $2 billion)
Total Assets (2020) $4.6 billion
Total Liabilities (2020) $3.9 billion
Net Income (2020) $63.7 million
Policyholders Over 1.2 million
Claims Paid Annually Over $1.4 billion
Retention Rate High
BBB Rating A+
Trustpilot Rating 4.6 out of 5 stars

 

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