Oxford Life Insurance Review [2021]

Oxford Life Insurance Company sells life insurance, annuities, and supplemental Medicare products focusing on the senior market across the United States. Oxford Life insurance rates start at $11.55/mo, but premiums vary depending on your age, medical history, gender, and tobacco use status. The company received an A.M. Best rating of A-. You must be 50 years or older to purchase a life insurance policy from Oxford Life.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • The Oxford Life Insurance Company sells annuity, supplemental medicare products, and final expense life insurance to senior citizens
  • Rates for end of life insurance start at $11.55/mo, but you must be at least 50 years old to purchase an Oxford life insurance policy
  • Oxford Life owns two subsidiaries, North American Insurance Company and Christian Fidelity Life Insurance Company

Founded in Arizona in 1965, the Oxford Life Insurance Company sells life insurance, annuity, and medicare supplemental products to folks aged 50 and older.

You can even purchase no medical exam life insurance through Oxford Life and instead only answer a health questionnaire.

With the assistance of its two subsidiaries, the North American Insurance Company and Christian Fidelity Life Insurance Company, Oxford Life aims to help senior citizens find financial comfort. This company is in no way affiliated with the UnitedHealthcare Oxford Benefit Management program.

Below, compare real Oxford life insurance rates for burial insurance, discover what other products the company offers, and determine if Oxford Life is right for you.

Before learning more about Oxford Life insurance, enter your ZIP code into our free quote tool above and compare the best life insurance companies near you.

What are the Oxford Life Insurance Company rates?

Oxford Life primarily sells burial or final expense insurance, also called senior plan life insurance. You can buy Oxford Life insurance policies for as little as $11.55 a month, depending on your age and gender.

Your medical history, gender, age, and occupation all influence your life insurance rates.

Compare the average monthly costs for Oxford Life’s final expense insurance by age, gender, and death benefit amount in the table below.

Average AIG vs. MassMutual Life Insurance Rates Comparison by Age, Gender, and Term Length for $250,000
Age and Gender10-Year Term (AIG)10-Year Term (MassMutual)20-Year Term (AIG)20-Year Term (MassMutual)30-Year Term (AIG)30-Year Term (MassMutual)
25 - Male$10.34$11.10$12.90$15.00$18.94$21.53
25 - Female$9.57$10.23$11.33$13.48$15.49$18.05
35 - Male$11.67$11.30$13.53$15.88$21.08$26.10
35 - Female$11.08$10.45$12.69$13.93$18.89$22.63
45 - Male$17.95$19.80$28.28$32.40$46.47$51.55
45 - Female$16.46$17.83$23.06$26.33$38.98$41.55
55 - Male$41.68$44.38$69.89$73.73$132.37$143.78
55 - Female $31.68$33.93$52.58$57.43$107.73$105.28
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Affordable Oxford Life insurance policies are available for younger, healthy senior citizens. However, as you get older, costs increase substantially.

You can get Oxford life insurance quotes directly through the company website.

Policy-holders can also make an online member profile and download the mobile application.

Through the app or your online account, you can manage and make changes to your policy and contact an agent directly.

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What insurance products does Oxford Life offer?

If you chose to buy Oxford Life insurance policies, you’d have three to chose from, known as Assurance, Assurance One, and Prosperity Select.

The age limit for the Assurance option is 50 to 85 years old. Coverage ranges from $5,000 to $30,000. Additional accelerated benefits include a terminal illness rider and a common carrier rider.

However, you must be 55 or older to apply for the Assurance One policy. Instead of making monthly or annual payments, Assurance One allows you to pay only one premium.

Accelerated benefits include the terminal illness rider, as well as a nursing home rider and chronic illness rider.

Finally, Prosperity Select is a single premium whole life insurance option. The age range is the same as the Assurance One plan.

If something happens to you, the policy death benefit gets passed to your heir, tax-free.

The additional riders for Prosperity Select are the same as Assurance One.

Oxford Life also offers four different annuity options known as Royal Select, Silver Select, Select Series, and MultiSelect.

For all options, the issue age is between 18 and 80 years-old.

Silver and Royal Select are both fixed indexed annuities. You receive a 4 percent premium bonus when you deposit your fund with the Silver policy and an 8 percent bonus with Royal Select.

The Select-Series, on the other hand, is a long-term investment with a lower-risk. You can choose from three, five, seven, or ten-year durations.

Multi-Select is the most predictable investment option. The policy offers a more stable interest rate that you, the purchaser, gets to choose.

Medicare supplemental insurance is available through Oxford Life but only in the 18 states. Those states include:

  • Arizona
  • California
  • Colorado
  • Idaho
  • Illinois
  • Iowa
  • Maryland
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • North Carolina
  • North Dakota
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • Utah

Christian Fidelity Life Insurance Company, a subsidiary of Oxford Life, underwrites most Medicare supplemental insurance options.

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What are the Oxford Life ratings and reviews?

Oxford Life received an A- (Excellent) financial rating from A.M. Best. This evaluation implies that this company is in strong economic standing.

It also reassures customers that, years down the road, Oxford Life can successfully follow through and pay beneficiaries the agreed-upon death benefits, even in an economic downturn.

But what about the customer experience? Are folks who use Oxford Life happy with their choice?

The Better Business Bureau gave Oxford Life a mediocre B- rating.

However, according to the National Association of Insurance Commissioners (NAIC), the complaint index for Oxford Life is 0.08.

Any complaint index below 1 is a good sign, as it means overall customers are happier than average for a company of its size.

In summary, people who use this company appear to be satisfied with the customer service experience.

What is the history of Oxford Life Insurance Company?

Founded in Arizona in 1965, Oxford Life focused on life insurance, annuities, and supplemental health care for senior citizens since day one.

Eventually, it expanded and acquired both the Christian Fidelity Life Insurance Company and the North American Insurance Company.

Today, Oxford Life is part of AMERCO, a publically traded financial holding network.

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Oxford Life Insurance: What’s the bottom line?

Oxford Life sells excellent options for folks in need of life insurance over the age of 50. Many of the life insurance products don’t even require a medical examination, only a questionnaire.

How much life insurance do you need? For many seniors, simple final expense policies are enough to cover funeral and burial costs. However, how much you need ultimately depends on your unique situation.

Unfortunately, younger customers are ineligible and cannot seek out Oxford Life insurance quotes. Those under 50 must look elsewhere for coverage.

The company is also not available in every state and mostly focuses on the country’s southern region.

Fortunately, the Oxford Life Insurance Company is one of many life insurance providers that exist. You can secure your best prices by comparing policies and prices online before buying life insurance.

Now that you know more about Oxford Life insurance, enter your ZIP code into our free quote tool below to find the best life insurance company for you.

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