Prosperity Life Group Life Insurance Review [2023]
Prosperity Life Insurance Group sells a number of insurance and retirement products including life insurance. Prosperity Life's most popular products are its final expense life insurance offerings. This company also offers term, whole, and universal life insurance products as well, but they may not be as robust as some of the other major life insurance companies in the marketplace.
Ready to compare quick life insurance quotes?
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
UPDATED: Jun 12, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jun 12, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Prosperity Life Group has been in the insurance market for over 100 years; the company was initially founded back in 1916
- The original name of the company was Shenandoah Life Insurance company; the current Prosperity Life Insurance Group branding was not adopted until 2009
- This company sells a number of different services, including annuities, Medicare supplement plans, and life insurance
Prosperity Life offers a wide variety of insurance services, including annuity products, Medicare supplement plans, and life insurance. For the purpose of our review, we will only be looking at the life insurance policies offered by Prosperity Life Insurance Group.
This company offers term life insurance quotes, whole life insurance, universal life insurance, and final expense insurance, but Prosperity Life is best known for its final expense insurance product offerings. We’ll take a closer look at the variety of insurance policies offered by Prosperity, see if we can share some sample rates with you, and go over the company’s financial strength rating.
If you want to find life insurance quotes similar to Prosperity Life’s offerings, enter your ZIP code above to compare life insurance rates from the top providers in your locality.
How much is Prosperity life insurance?
Prosperity sells a number of different life insurance policies to help customers plan for the future. We were able to find and compile data on Prosperity Life Group’s most popular life insurance product. Below you will see sample premium rates.
Policyholder Age | $10,000 Policy: Male Average Monthly Rates | $10,000 Policy: Female Average Monthly Rates |
---|---|---|
40 | $24.02 | $20.43 |
45 | $27.16 | $22.65 |
50 | $43.20 | $32.91 |
55 | $50.06 | $38.89 |
60 | $57.86 | $45.98 |
65 | $71.02 | $55.60 |
70 | $88.55 | $69.69 |
75 | $114.80 | $91.51 |
80 | $163.18 | $126.89 |
85 | $230.74 | $181.52 |
Prosperity life insurance quotes can also be acquired by calling a life insurance agent; they do not allow you the ability to get a quote online.
Prosperity has not published their rates for premium prices their term, whole, or universal life insurance policies. If you want to know more about specific rate details for those policies, you will need to contact a Prosperity life insurance agent.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
What other types of life insurance policies are sold by Prosperity Life?
Besides final expense insurance, Prosperity Life Group sells term life insurance, whole life insurance, and universal life insurance policies. These policies are not as popular as their final expense policies. This is likely due to the fact that better term, whole, and universal life insurance policies can be purchased from other major insurance companies.
Let’s take a closer look at the details of Prosperity Life’s other life insurance policies. This company’s term life insurance policies feature an easy application process that requires no medical exam. You will be asked a few key health questions over the phone, and database records will also be used to make a health determination.
Prosperity Life’s term life insurance policies are generally approved in 48 hours or less. The company guarantees that your term life insurance premiums remain level for the first 10 years of the policy, and you can get term coverage up to 350,000 dollars.
The whole life insurance policies offered by Prosperity Life Group feature a level premium for the duration of your policy which will last for the rest of your life if you continue to pay your premiums on time. These whole life policies also grow a cash value over time that is tax-deferred.
The cash value of your Prosperity whole life insurance policy can be borrowed against, but it is important to note that this will also decrease the death benefit until it is paid back. Prosperity Life Group also makes 50% of your whole life insurance benefit available to you should you become terminally ill. This can help tremendously if you have a difficult time managing your expenses once you’ve been diagnosed with a serious medical condition.
Prosperity Life’s universal life insurance is different from most universal life insurance policies, but it’s still a type of permanent life insurance. These universal life insurance policies are more geared to people who want to leave a legacy to their heirs. The single premium universal life insurance policy from Prosperity Life Group gives you an opportunity to leave your loved ones a legacy tax-free, which can help them through a difficult time without the added stress of managing taxes.
These universal life insurance policies also allow you to use some of your benefits should you become terminally ill and require additional money. Plus, these policies also feature cash growth opportunities over time tax-free too. So, they may not feature the cheapest premium, but the long-term growth may be worth the added cost.
What is the financial strength rating of Prosperity Life Group?
The Prosperity Life Group has a very strong financial rating from the independent review company A.M. Best. The company’s financial rating is an A-. This is one of the highest scores offered by A.M. Best.
It is important to find companies with strong financial ratings, especially when it comes to life insurance. Companies with a strong financial rating history are more likely to be able to pay your benefits on time and in full. The last thing you want is a company that can’t afford to pay your benefits after you’ve spent years paying your premiums.
What’s the bottom line?
Prosperity life insurance comes in many shapes and sizes. This is good for consumers because there are choices, but this company may not be the best choice for your life insurance needs if you are looking for a more robust term life, whole life, or universal life insurance policy.
Prosperity Life Group does not offer the same types of term life insurance policies that many other major life insurance companies offer. Most companies offer level premiums for the duration of a term life insurance policy, but Prosperity does not.
Prosperity’s universal life insurance is less like other universal policies out there and more like a final estate planning vehicle. Prosperity Life Group is a popular final expense life insurance company because they cater their products and services to an older crowd.
If you’re looking to plan out the final decades and years of your life, Prosperity Life Group is a great choice for you. However, if you’re looking for great term life insurance coverage, there is likely a far better option out there for you.
Curious if Prosperity Life offers what you need? If you want life insurance quotes from top companies in your area, enter your ZIP code below.
Frequently Asked Questions
What is Prosperity Life Group Life Insurance?
Prosperity Life Group Life Insurance is a type of life insurance policy offered by Prosperity Life Group. It provides financial protection and peace of mind to the policyholder’s loved ones in the event of their death.
What types of life insurance does Prosperity Life Group offer?
Prosperity Life Group offers various types of life insurance, including term life insurance, whole life insurance, and universal life insurance.
What is term life insurance?
Term life insurance is a type of life insurance that provides coverage for a specific period, usually 10, 20, or 30 years. If the policyholder passes away during the term, the designated beneficiaries receive a death benefit. However, if the policyholder survives the term, there is no payout.
What is whole life insurance?
Whole life insurance is a type of permanent life insurance that provides coverage for the entire lifetime of the insured person. It offers a death benefit to the beneficiaries and also accumulates cash value over time, which can be borrowed against or withdrawn by the policyholder.
What is universal life insurance?
Universal life insurance is another type of permanent life insurance that offers flexible premiums and death benefit options. It allows policyholders to adjust the amount of coverage and premiums throughout the policy’s lifetime. Universal life insurance also accumulates cash value.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.