Life Insurance Savings Group Evaluates: Seniors Must Read

Life Insurance Savings Group Evaluates: Seniors Must Read

September 28, 202311 min read

The Life Insurance Savings Group is known for offering term and final expense policies, but how consistent has their coverage quality been? Is there any doubt about their capacity to pay out death benefits? Have you heard the criticisms against the Life Insurance Savings Group?

We've done our research, yet many still question if their policies truly offer long-term savings. When stacking them against leading insurers, they fall short. Given their parent company Selectquote's recent performance, concerns about their claim-paying ability loom.

Which insurer tops the list? Life Insurance Savings Group... OUR ANSWER IS NO! Superior companies out there offer better life insurance solutions at reasonable costs.

Before you decide, let's take a closer look at this company with guidance from our insurance specialists.

2023 Life Insurance Savings Group Reviews Seniors Must Read

Life Insurance Savings Group, Who Are They

Is dedicated to recruiting for final expense life insurance. This group doubles as the marketing arm for a leading telesales giant in the industry, known as Select Quote, a name you might recognize.

Indeed, when I established, I stood out as one of their high-achieving licensed agents. Today, I find myself among their competition. The driving force behind my departure to establish my independent agency was the realization that these companies didn't prioritize client interests first and foremost.

Their offerings in final expense insurance carriers were also notably limited. The paramount goal should always be to secure the life insurance policy that best suits your needs.

Life Insurance Savings Group combines the strongest aspects of renowned health plans such as Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), and Health Reimbursement Arrangements (HRAs), offering a reliable and efficient method to cover medical and funeral costs while optimizing savings on health insurance.

Final Expense Insurance

By providing a modest coverage amount, final expense insurance enables policyholders to support their loved ones with funeral and burial costs upon their passing. The use of the death benefit is generally unrestricted, allowing it to also cover unrelated debts such as credit card and medical bills.

Most life insurance savings groups offer policies with death benefits up to a maximum of $25,000 in savings commitment. These policies often grant approval without a medical exam for individuals aged 45 to 85. Coverage typically begins immediately, although some guaranteed plans may limit the number of payouts within the first two years after an accident.


Term Life Insurance

A term life insurance policy offers coverage for a predetermined duration, ranging from 5 to 30 years. Should the policyholder pass away unexpectedly within this period, their designated beneficiaries are entitled to receive a death benefit free from taxes. Notably, term life insurance is characterized by its affordable and fixed premiums. However, it lacks a savings element and ceases to provide coverage if the policyholder survives beyond the term's expiration.

This type of insurance is particularly suited for individuals seeking to ensure financial protection for their loved ones, aiming to cover specific debts or financial obligations upon their passing. Moreover, certain policies are designed with adaptability in mind, offering policyholders the opportunity to renew or convert their coverage in response to evolving life situations.

The Life Insurance Savings Group Offers Various Plans

Life insurance savings groups offer a dual benefit: life insurance protection coupled with a component for savings or investment. These plans, crafted by insurance companies, aim to provide both financial security and avenues for savings. At the core of these offerings is life insurance, guaranteeing that upon the death of the policyholder, beneficiaries are awarded a lump sum. A portion of the premiums paid is allocated to a savings or investment account, which accumulates interest over time.

Policyholders have the liberty to tailor the savings or investment aspect of their plan, choosing among diverse investment options such as stocks, bonds, and accounts with fixed interest. Surviving beyond the plan's maturity date means policyholders receive a payout, which can serve various purposes like retirement or funding educational expenses. Additionally, these plans might offer tax benefits and options for early cash-out, though it's crucial to understand the specifics and consult with financial experts to ensure alignment with personal financial objectives.

However, Insurance Savings Group does not cover these services. Instead, they provide a scheme where a fixed monthly payment or a "savings contribution" grants immediate access to funds for medical, dental, and vision care. If the plan remains unused, your contributions are fully reimbursed.

Thus, coverage might range from a minimal $2,000 to a maximum of $40,000 in life insurance. Engaging with a competing insurance provider for such benefits is not uncommon.

The term life insurance comes with a death benefit that's secure until the policy reaches its expiry date, marking it as a short-term solution. As this expiration date approaches, the policy becomes insufficient for your needs, turning costly and ineffective.

Life insurance savings clubs propose renewal options at rates more affordable than transitioning to whole life or universal life insurance policies, which can last until maturity based on the type purchased (e.g., term).

Term policies typically expire by the time one reaches 80 years of age, sometimes sooner. Due to the indefinite nature of term coverage, it's challenging to foresee any potential rate hikes as time progresses. Nonetheless, the insurance partners we collaborate with set their age limits at either 85 or 90 years.

This could present a significant challenge for those on a fixed income, especially if premiums rise beyond affordability. Indeed, after investing in life insurance, going without it isn't an option. Ensuring that your family benefits from a death payout upon your demise is paramount.

Given the lack of upfront information on policy specifics or annual rate adjustments, it's understandable why many customers discontinue their policy following an unexpected rate increase during its term.

For those interested in exploring reliable final expense life insurance options, our reviews of carriers RNA and AMAM are worth considering. Both provide superior coverage with an A/A+ rating, ensuring full transparency.

Are they Partnered With United Of Omaha

Are they Partnered With United Of Omaha?

The insurance policies offered by the company are underwritten by United of Omaha, an exceptional provider of final expense insurance. This serves as a prime example of one of their products, showcasing unique benefits not found in similar plans from other mutual companies!

United of Omaha stands out for its comprehensive final expense insurance options, designed to meet a wide range of needs and preferences. What sets their offerings apart are the specialized features and benefits tailored to enhance the policyholder's experience, ensuring peace of mind and security for families.

These advantages include flexible payment options, coverage without the need for a medical exam, and benefits that can address a variety of final expenses. Such thoughtful inclusions make United of Omaha's policies not just a choice but a preferred solution for those seeking reliable final expense insurance from a reputable mutual company.

Here Are Some Potential Pain Points to Consider

Like many, I'm always on the hunt for a great deal. Yet, when something seems too good to be true, it often is! This company makes it sound as if agreeing to their service (whatever it might be) locks you in forever, hinting they have an ace up their sleeve.

Sure, they tout acceptance guarantees and the like, but let's take a closer look, shall we? The instant deal-breaker for me was discovering every guaranteed acceptance program comes with a two-year wait. That's a huge red flag, similar to what you'd find with Colonial Penn. During this period, if something happens to you, your beneficiaries won't see a dime!

If you're in the market for final expense insurance, aim for a policy with no waiting period. The truth is, our final expense policies are reserved for those facing severe health challenges, like terminal illness or dementia. The quicker your beneficiaries can access the funds from such a policy without facing hurdles or fees, the better off they'll be.

Expecting transparency from a business that doesn't measure up in terms of reliability? Life Insurance Savings Group hardly fits the bill as a dependable insurer. Do they even share basic details like their address or policy costs? Regrettably, this company shrouds its operations in mystery, offering no clarity on its practices. It stands as the lone source of information, deterring potential customers seeking upfront details on rates and options (not even via email!).

Mike Ditka Is A PAID Spokesman For Life Insurance Savings Group Commercial

You've likely noticed the famous ex-Chicago Bears coach Mike Ditka championing the Life Insurance Savings Group, widely recognized for his compelling delivery and motivational speeches. His engaging narratives often feature in commercials or become talking points during social gatherings when the topic drifts to endurance sports!

Next time his advertisement graces your screen, give it your full attention. It's riddled with inaccuracies. Take a moment to read the fine print and don't hesitate to hit pause – you'll thank us later! Explore the premier life insurance companies across all 50 states through the link provided. You'll find simplified issue whole life insurance policies offering lifelong protection, poised to reduce your premium expenses significantly.

Are they Partnered With United Of Omaha

What Companies Does Life Insurance Savings Group Offer

The insurance firm's online presence is adorned with an array of logos from various companies. If their advertising efforts don't already make it clear that they're affiliated with Mutual of Omaha, a glance at these logos certainly will!

At Life Insurance Globe, while the transparency of their websites leaves much to be desired, it's possible that AIG, Trustage, and Americo might adopt similar approaches in their marketing strategies. This lack of clarity can make it challenging to discern the true nature of their partnerships and the authenticity of their offerings. It's a tactic that could cause confusion among potential customers trying to navigate through their insurance options. Paying close attention to these details can offer insights into how these companies present themselves and potentially hint at their business practices.

What Kind Of Rates Can You Expect At Life Insurance Savings

Life Insurance Savings is a popular site known for providing life insurance quotes. Regrettably, they keep their pricing under wraps, forcing you to engage with a sales representative just to get a glimpse into the cost of securing coverage!

This approach is somewhat misleading, considering that the actual cost of final expense insurance is seldom transparent on their site. Sounds absurd, right? (Yes, that's sarcasm). Many people are led to believe they'll receive a straightforward quote directly from their provider. However, the reality often unfolds differently, with accurate pricing elusive and typically found only through TV ads or other channels, not via a simple Google search for "final expense policy costs."

The notion of a bait without a hint of suspicion is unheard of. Seriously? The hard truth? Their advertisements are a masterclass in misleading marketing, designed to lure us in with attractively low prices over the phone.

Therefore, exercise due diligence and scrutinize the details of their proposed plan with a critical eye. Has So Much More To Offer; call Us!!

We would never advise purchasing final cost insurance from Life Insurance Savings Group. Because their website doesn't offer any information on this subject whatsoever, Life Insurance Savings Group is extremely discreet regarding who they represent, what plans are included with the purchase, as well as how much the funeral expenses under those policies are!

I don't know about you, but I won't do business with any organisation that runs in this manner. We've done the whole thing before. We actually have more experience than any other business and can assist you with your final expense insurance requirements quickly.

Here are three key justifications for visiting us

  1. Customers love us so much that they give us ratings! Online customers that dealt with our business gave us a rating of 4.9/5 stars, which is "Excellent." Just a few of the comments people made regarding theirs are listed below:

  2. We are so open with our pricing that it is posted online. There are no unforeseen costs or surprises when it comes time to pay, and you can know what you'll spend beforehand. You make a set payment each month!

  3. Our experts will put in a lot of effort to identify the finest life insurance provider for you. Since we represent over 15 different companies in our network, we can usually get coverage right away, and there is always one that will approve!

Are they Partnered With United Of Omaha


For final expense insurance, we believe Life Insurance Savings Group is a poor option. We think that because The Life Insurance Savings Group operates in secrecy, they must be keeping something from you. It is difficult to learn anything about them because they won't disclose who their insurance providers are or the specifics of the plans they offer.

Give us a call right away if you need an honest broker with lots of transparency. Fill out our form on this page to the right to get started.

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