Mountain Life Insurance Company, Tennessee: Overview, Contacts, Services, Market Share, Partnership, Claim Process, Financial Aspects.

Why You Should Consider Mountain Life Insurance Company for Your Life Insurance Needs

Life insurance is one of the most important financial decisions you can make for yourself and your loved ones. It can provide peace of mind, security, and protection in case of unexpected events.

But how do you choose the right life insurance company for your needs?

There are many factors to consider, such as the company’s reputation, products, services, customer experience, financial strength, and social responsibility. We will introduce you to Mountain Life Insurance Company, a regional life insurance provider that operates in six states in the Southeastern United States.

By the end of this post, you will have a better understanding of Mountain Life Insurance Company and why it might be a good option for your life insurance needs. Let’s get started!

 

Contents show

What is Mountain Life Insurance Company and what does it do?

Mountain Life Insurance Company is a life insurance company that sells life insurance policies exclusively through independent agents in Tennessee, Alabama, Arkansas, Mississippi, Missouri, and Georgia. The company offers two primary types of insurance coverage: individual life and credit life & disability.

Individual life insurance provides long-term financial protection against death or other events that are expected or unexpected.

Credit life & disability insurance protects borrowers who have loans from financial institutions or automobile dealerships. The company’s mission is to provide quality life insurance products at affordable prices to meet the changing financial objectives of its customers.

 

An image Illustration of Mountain Life Insurance Company
Mountain Life Insurance Company: Your Life Insurance Partner. Tested and Trusted
Photo Courtesy: PR Newswire

 

 

What are the company details (history and founding year, CEO and leadership teams, market share)?

Mountain Life Insurance Company was incorporated in 1972 with principal shareholder Earl R. Whaley & Company, a leading provider of credit-related insurance products in the Southeastern United States.

The company is headquartered in Alcoa, Tennessee, a city near Knoxville that is known for its aluminum industry. The company’s CEO is Terry E. Forcht, a prominent businessman and philanthropist who also owns Kentucky National Insurance Group, a group of property and casualty insurance companies that operates in Kentucky and Tennessee.

The company’s leadership team consists of experienced professionals who have expertise in various aspects of the life insurance industry. The company’s market share is not publicly available, but according to its website, it serves more than 325 financial institutions and automobile dealerships throughout its six-state region.

 

What are the partnerships and affiliates of Mountain Life Insurance Company (partnered businesses, sponsorship, and collaboration)?

Mountain Life has several partnerships and affiliates that enhance its products and services. Some of them are:

 

Earl R. Whaley & Company:

This is the parent company of Mountain Life  which provides credit-related insurance products and services to financial institutions and automobile dealerships in 14 states. Earl R. Whaley & Company also offers training programs, marketing support, compliance assistance, claims administration, reinsurance solutions, and software development to its clients.

Kentucky National Insurance Group:

This is the sister company of Mountain Life Insurance Company which owns several property and casualty insurance companies in Kentucky and Tennessee. Kentucky National Insurance Group offers personal and commercial lines of insurance such as auto, home, farm, business, workers’ compensation, umbrella, and specialty products.

Forcht Group of Kentucky:

This is the holding company of Terry E. Forcht which owns and operates various businesses in banking, broadcasting, health care, publishing, and real estate. Furthermore, Forcht Group of Kentucky is one of the largest private employers in Kentucky with over 2,100 employees.

Forcht Bank:

This is one of the largest banks in Kentucky with 25 locations and over $1 billion in assets2. Forcht Bank offers a full range of banking services such as checking, savings, loans, mortgages, credit cards, online banking, mobile banking, and wealth management.

Forcht Broadcasting:

This is a media company that owns and operates 25 radio stations in Kentucky, Indiana, Illinois, and Tennessee. Forcht Broadcasting offers a variety of music formats, news, sports, weather, and community events to its listeners.

The Center for Rural Development:

This is a non-profit organization that provides leadership development, technology training, public safety, arts and culture, and youth programs to rural communities in Southern and Eastern Kentucky. The Center for Rural Development also hosts conferences, meetings, events, and concerts at its state-of-the-art facility in Somerset, Kentucky.

Mountain Life Insurance Company also sponsors and collaborates with various organizations and causes that align with its values and vision. Some of them are:

 

  • The Salvation Army: Mountain Life Insurance Company supports the Salvation Army’s annual Angel Tree program that provides gifts to children in need during the holiday season. The company also participates in the Salvation Army’s Red Kettle campaign which raises funds for the Salvation Army’s social services.
  • United Way: Mountain Life Insurance Company contributes to the United Way’s annual campaign that supports local programs and agencies that address health, education, and financial stability issues in the community. The company also encourages its employees to volunteer for the United Way’s Day of Caring which connects volunteers with local non-profit organizations that need help.
  • Habitat for Humanity: Mountain Life Insurance Company supports Habitat for Humanity’s mission to build affordable housing for low-income families. The company also provides volunteers and materials for Habitat for Humanity’s home construction projects.
  • Junior Achievement: Mountain Life Insurance Company supports Junior Achievement’s mission to inspire and prepare young people to succeed in a global economy. The company also provides volunteers and resources for Junior Achievement’s programs that teach students about entrepreneurship, financial literacy, and work readiness.

 

What Insurance services does Mountain Life Insurance Company offer?

Mountain Life Insurance Company offers two primary types of insurance coverage: individual life and credit life & disability. Within these two categories, the company offers various products and services to suit different needs and preferences. Some of them are:

 

Individual Life:

This is a type of life insurance that provides long-term financial protection against death or other events that are expected or unexpected. Mountain Life Insurance Company offers several types of individual life insurance products such as:

Whole Life:

This is a type of permanent life insurance that provides guaranteed premiums and level protection for a lifetime along with guaranteed cash values that can meet changing financial objectives. Mountain Life Insurance Company offers whole life insurance policies with face amounts ranging from $1,000 to $50,000.

Term Life:

This is a type of temporary life insurance that protects for a specified period at a lower cost than permanent life insurance. Mountain Life Insurance Company offers term life insurance policies with face amounts ranging from $10,000 to $250,000 and terms ranging from 10 years to 30 years.

Juvenile 10 Pay Life:

This is a type of whole life insurance that protects children up to age 18 with premiums payable for only 10 years. Mountain Life Insurance Company offers juvenile 10-pay life insurance policies with face amounts ranging from $2,500 to $25,000.

Senior Life I and II:

These are types of whole life insurance that protect seniors aged 50 to 80 with simplified underwriting and no medical exam required1. Mountain Life Insurance Company offers senior life I and II insurance policies with face amounts ranging from $2,500 to $25,000.

Credit Life & Disability:

This is a type of life insurance that protects borrowers who have loans from financial institutions or automobile dealerships. Credit life insurance pays off the loan balance in case of the death of the borrower. Credit disability insurance pays off the loan payments in case of disability of the borrower

 

Special Packages:

Mountain Life Insurance Company also offers special packages that combine individual life and credit life & disability insurance products to provide more comprehensive coverage and benefits to its customers. Some of these packages are:

 

  1. Family Protection Plan: This is a package that provides whole life insurance for the primary insured, term life insurance for the spouse, and juvenile 10-pay life insurance for the children. The package also includes accidental death and dismemberment benefits for all family members.
  2. Mortgage Protection Plan: This is a package that provides decreasing term life insurance and credit disability insurance for borrowers who have mortgage loans. The package also includes accidental death and dismemberment benefits for the borrowers.
  3. Auto Protection Plan: This is a package that provides decreasing term life insurance and credit disability insurance for borrowers who have auto loans. The package also includes accidental death and dismemberment benefits and gap coverage for the borrowers. Gap coverage pays the difference between the loan balance and the actual cash value of the vehicle in case of total loss or theft.

International Coverage: Mountain Life Insurance Company does not offer international coverage for its products and services. The company only operates in six states in the Southeastern United States: Tennessee, Alabama, Arkansas, Mississippi, Missouri, and Georgia.

 

Policies:

Mountain Life Insurance Company has various policies and provisions that govern its products and services. Some of these policies are:

 

  • Underwriting: This is the process of evaluating the risk and eligibility of applicants for insurance coverage. Mountain Life Insurance Company uses different underwriting criteria and methods depending on the type, amount, and term of insurance applied for. Some of the factors that affect underwriting are age, health, occupation, lifestyle, family history, and credit history.
  • Exclusions: These are the conditions or events that are not covered by the insurance policy. Mountain Life Insurance Company has different exclusions depending on the type of insurance product. Some of the common exclusions are suicide, war, illegal acts, fraud, misrepresentation, intoxication, drug abuse, and pre-existing conditions1.
  • Riders: These are optional features or benefits that can be added to the basic insurance policy for an additional cost. Mountain Life Insurance Company offers various riders depending on the type of insurance product. Some of the common riders are waiver of premium, accidental death benefit, accelerated death benefit, child rider, spouse rider, guaranteed insurability option, and return of premium option.

 

Grace Period:

This is the period after the premium due date during which the policy remains in force as long as the premium is paid within that period. Mountain Life Insurance Company has a grace period of 31 days for all its products except credit life & disability insurance which has a grace period of 15 days.

Nonforfeiture Options:

These are the options available to policyholders who stop paying premiums after acquiring some cash value in their policies. Mountain Life Insurance Company offers three nonforfeiture options for its whole life insurance products: cash surrender value, reduced paid-up insurance, and extended-term insurance1.

How can you contact Mountain Life Insurance Company?

If you want to contact Mountain Life Insurance Company for any inquiries, complaints, or feedback, you can use any of the following methods:

Method Details
Phone 1-800-888-6542
Address P.O. Box 240 517 Airway Drive Alcoa, TN 37701
Customer Service Contact customerservice@mountainlife.com
Email Address info@mountainlife.com
Operating Hours Monday-Friday 8:00 AM – 4:30 PM EST
Fax 865-970-3827

 

What are the financial details of Mountain Life Insurance Company?

The financial details of Mountain Life Insurance Company vary depending on the type, amount, and term of insurance coverage you choose. However, here are some general information that can help you understand how much it will cost you to get insured by Mountain Life Insurance Company:

 

Premium Costs:

The premium is the amount of money you pay to keep your policy in force. The premium cost depends on several factors such as your age, gender, health status, occupation, lifestyle, family history, credit history, type of insurance product, face amount, term length, riders, and discounts1. You can request a quote from Mountain Life Insurance Company or contact an independent agent to get an estimate of your premium cost based on your specific needs and preferences.

 

Payment Options:

Mountain Life Insurance Company offers various payment options for your convenience. You can pay your premiums monthly, quarterly, semi-annually, or annually. You can also choose to pay your premiums by check, money order, bank draft, credit card, debit card, or electronic funds transfer.

 

Discount and Promotional Offers:

Mountain Life Insurance Company offers various discounts and promotional offers to help you save money on your insurance coverage. Some of these discounts and offers are:

  • Multi-Policy Discount: You can get a discount on your premium if you have more than one policy with Mountain Life Insurance Company.
  • Preferred Risk Discount: You can get a discount on your premium if you qualify as a preferred risk based on your health and lifestyle factors.
  • Loyalty Discount: You can get a discount on your premium if you have been a policyholder with Mountain Life Insurance Company for a certain period.

 

Why choose Mountain Life Insurance Company?

There are many reasons why you should consider Mountain Life Insurance Company for your life insurance needs. Here are some of the unique features and benefits that make Mountain Life Insurance Company stand out from other life insurance companies:

 

Regional Focus:

Mountain Life Insurance Company is a regional life insurance provider that operates in six states in the Southeastern United States: Tennessee, Alabama, Arkansas, Mississippi, Missouri, and Georgia. This means that the company understands the needs and preferences of its customers better than national or international companies.

The company also has a network of local independent agents who can provide personalized service and advice to its customers.

Quality Products:

Mountain Life Insurance Company offers quality life insurance products that provide long-term financial protection against death or other events that are expected or unexpected. The company offers various types of individual life and credit life & disability insurance products with different face amounts, terms, and benefits to suit different needs and preferences.

The company also offers special packages that combine individual life and credit life & disability insurance products to provide more comprehensive coverage and benefits to its customers.

Affordable Prices:

Mountain Life Insurance Company offers affordable prices for its life insurance products. The company uses different underwriting criteria and methods depending on the type, amount, and term of insurance applied to determine the premium cost for each customer.

The company also offers various discounts and promotional offers to help customers save money on their insurance coverage.

Customer Service:

Mountain Life  provides excellent customer service to its customers. The company has a dedicated customer service team that can answer any inquiries, complaints, or feedback from customers via phone, email, fax, or mail.

The company also has an online portal where customers can access their policy information, make payments, update their details, file claims, and more.

Financial Strength:

Mountain Life has a strong financial position that ensures its ability to meet its obligations to its customers. The company has been rated A- (Excellent) by A.M. Best, a leading rating agency that evaluates the financial strength and performance of insurance companies.

The company also has a solid capital base and reserves that exceed the minimum requirements set by the state regulators.

What are the customer experiences of Mountain Life Insurance Company (reviews and ratings, testimonials, complaints)?

The customer experiences of the Company are mostly positive and satisfactory. The company has received many reviews and ratings from its customers on various platforms such as Google, Facebook, Yelp, Trustpilot, and Better Business Bureau.

Here are some examples of what customers have said about the Company:

“I have been with Mountain Life for over 10 years and I am very happy with their service. They have always been helpful and responsive whenever I had any questions or issues. Their prices are reasonable and their products are reliable. I would recommend them to anyone looking for life insurance.” – Google Review

“Mountain Life is a great company to work with. They have friendly and knowledgeable agents who helped me find the best policy for my needs. They also have flexible payment options and an easy claim process. I am glad I chose them for my life insurance.” – Facebook Review

“Mountain Life is one of the best life insurance companies I have ever dealt with. They have high-quality products and excellent customer service. They also have a lot of discounts and offers that make their prices even more affordable. I am very satisfied with my experience with them.” – Yelp Review

“Mountain Life is a trustworthy and reputable life insurance company. They have been in business for a long time and they have a strong financial rating. They also have a lot of options and features that suit different needs and preferences. I am very happy with my policy and the service I received from them.” – Trustpilot Review

“Mountain Life is a professional and courteous life insurance company. They have been serving me and my family for over 20 years and they have always been there for us. They have a great reputation and a loyal customer base. I highly recommend them to anyone who needs life insurance.” – Better Business Bureau Review

Of course, not all customer experiences are positive. Mountain Life Insurance Company has also received some complaints and negative feedback from its customers on various platforms.

Here are some examples of what customers have complained about Mountain Life y:

 

“I had a bad experience with Mountain Life. They denied my claim for no valid reason. They said that I had a pre-existing condition that was not disclosed in my application. But I had no idea that I had that condition and I was never diagnosed with it before. They are just trying to avoid paying me what I deserve.” – Google Review

“Mountain Life is a terrible company to deal with. They have rude and unhelpful agents who don’t care about their customers. Furthermore, they also have hidden fees that they don’t tell you upfront. They are just trying to rip you off.” – Facebook Review

“Mountain Life is a scam. They sold me a policy that was supposed to cover me for 30 years, but they canceled it after 10 years without any notice or explanation. They said that they had the right to do so according to their policy terms and conditions. But they never gave me a copy of those terms and conditions when I signed up. They are just trying to get out of their obligations.” – Yelp Review

“Mountain Life is a dishonest and unethical life insurance company. They lied to me about the benefits and features of their products. Furthermore, They also changed the terms and conditions of my policy without my consent or knowledge. They are just trying to cheat me out of my money.” – Trustpilot Review

“Mountain Life is a horrible life insurance company. They have poor customer service and communication skills. Moreover, they never answer their phone or respond to their emails. They also delay and deny my claims without any reason or evidence. Additionally, they are just trying to frustrate me and make me give up.” – Better Business Bureau Review

As you can see, the customer experiences of Mountain Life  are mixed and varied. However, it seems that the majority of customers are satisfied and happy with their products and services, while only a minority of customers are dissatisfied and unhappy with their products and services.

 

What are the financial strengths of Mountain Life Insurance?

One of the most important factors to consider when choosing a life insurance company is its financial strength and stability. This indicates how well the company can meet its obligations to its customers, especially in times of economic uncertainty or crisis. The financial strength of Mountain Life  is impressive and commendable.

The company has been rated A- (Excellent) by A.M. Best, a leading rating agency that evaluates the financial strength and performance of insurance companies. This rating means that Mountain Life Insurance Company has an excellent ability to meet its ongoing insurance obligations.

The rating is based on various criteria such as balance sheet strength, operating performance, business profile, enterprise risk management, and outlook. The company has also maintained a solid capital base and reserves that exceed the minimum requirements set by the state regulators. The company has also demonstrated consistent profitability and growth over the years.

 

How does the claim process of Mountain Life work?

The claim process of Mountain Life  is simple. The company aims to provide fast and fair claim settlements to its customers. The claim process consists of the following steps:

 

Step 1: Notify Mountain Life of the claim as soon as possible by phone, email, fax, or mail. Provide the policy number, name of insured, date of death or disability, cause of death or disability, name of beneficiary or creditor, and contact information.

Step 2: Complete and submit the required claim forms and documents to Mountain Life by mail or fax. The required forms and documents may vary depending on the type of claim, but they usually include a death certificate, proof of identity, proof of relationship, proof of loan balance or payment, medical records, police report, etc.

Step 3: Wait for Mountain Life to review and process your claim. The company will verify the validity and eligibility of your claim based on the policy terms and conditions. The company will also investigate any suspicious or fraudulent claims.

Step 4: Receive your claim payment from Mountain Life Insurance Company by check or electronic funds transfer. The company will pay the claim amount to the beneficiary or creditor according to the policy provisions. The company will also notify you of the status and outcome of your claim by phone, email, fax, or mail.

How to file a claim with Mountain Life Insurance Company?

If you need to file a claim with Mountain Life Insurance Company, you can follow the steps outlined in the previous section. However, here are some additional information and tips that can help you file your claim more easily and efficiently:

 

Claim Process: The claim process of Mountain Life Insurance Company is simple. You just need to notify the company of the claim, complete and submit the required forms and documents, wait for the company to review and process your claim, and receive your claim payment.

Claim Status: You can check the status of your claim by contacting Mountain Life Insurance Company by phone, email, fax, or mail. You can also access your claim information online through the company’s website or mobile app. The company will also keep you updated on the status and outcome of your claim by phone, email, fax, or mail.

Documents Needed: The documents needed for your claim may vary depending on the type of claim, but they usually include a death certificate, proof of identity, proof of relationship, proof of loan balance or payment, medical records, police report, etc. You can obtain these documents from various sources such as funeral homes, government offices, hospitals, doctors, financial institutions, automobile dealerships, etc. You can also contact Mountain Life Insurance Company for assistance in obtaining these documents.

Average Claim Approval Time: The average claim approval time of Mountain Life Insurance Company is not publicly available, but according to some customer reviews and feedback, it ranges from a few days to a few weeks. The claim approval time depends on several factors such as the type of claim, the amount of claim, the complexity of the claim, the completeness of forms and documents, the cooperation of parties involved, etc.

 

What are the legal and compliance information of Mountain Life Insurance Company?

Mountain Life Insurance Company is a legal and compliant life insurance company that follows the rules and regulations set by the state and federal authorities.

The company is licensed and authorized to sell life insurance products in six states in the Southeastern United States: Tennessee, Alabama, Arkansas, Mississippi, Missouri, and Georgia. The company is also registered and accredited by various organizations and agencies that monitor and evaluate the quality and performance of insurance companies.

Some of these organizations and agencies are:

 

A.M. Best: This is a leading rating agency that evaluates the financial strength and performance of insurance companies. Mountain Life has been rated A- (Excellent) by A.M. Best, which means that it has an excellent ability to meet its ongoing insurance obligations.

Better Business Bureau: This is a non-profit organization that promotes ethical business practices and consumer trust. Mountain Life has been accredited by the Better Business Bureau since 1998 and has an A+ rating, which means that it meets the highest standards of customer service and satisfaction.

National Association of Insurance Commissioners: This is an association of state insurance regulators that sets standards and best practices for the insurance industry. Mountain Life  is a member of the National Association of Insurance Commissioners and participates in its programs and initiatives such as the System for Electronic Rate and Form Filing (SERFF), the Financial Regulation Standards and Accreditation Program (FSA), and the Consumer Information Source (CIS).

 

What are the renewals and cancelations of Mountain Life Insurance ?

Mountain Life Insurance Company has various policies and procedures regarding the renewals and cancelations of its products and services. Here are some of them:

Policy Renewal Process:

The policy renewal process depends on the type of insurance product you have. For whole life insurance products, your policy will remain in force as long as you pay your premiums on time. Furthermore, for term life insurance products, your policy will expire at the end of the term unless you renew it or convert it to a permanent policy.

For credit life & disability insurance products, your policy will terminate when your loan is paid off or when you default on your loan payments. Additionally, you can contact Mountain Life or your independent agent for more information on how to renew or convert your policy.

Cancelation Policy and Fees:

You have the right to cancel your policy at any time for any reason. To cancel your policy, you need to send a written request to Mountain Life or your independent agent. You may also need to return your original policy document if you have it.

Depending on when you cancel your policy, you may be entitled to a refund of any unearned premium or cash value. However, you may also be charged a cancelation fee or a surrender charge depending on the type of policy you have. You can contact Mountain Life  or your independent agent for more details on how to cancel your policy and what fees may apply.

Grace Periods:

A grace period is the period after the premium due date during which your policy remains in force as long as you pay your premium within that period. To begin with, Mountain Life has a grace period of 31 days for all its products except credit life & disability insurance which has a grace period of 15 days. However, If you fail to pay your premium within the grace period, your policy will lapse and you will lose your coverage.

 

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