Settlers Life Insurance Company Review

Settlers Life Insurance Company at a Glance

Settlers Life pros: Well-established carrier with more than 85 year's worth of experience in the insurance industry. Highly rated by A.M. Best. 24/7 claims reporting via email. Strong financial stability. Coverage is available in 47 states.

Settlers Life cons: Not BBB accredited. Somewhat difficult to find customer feedback. Not much information about claims process provided on official website. Official website could use a major overhaul. Limited coverage options.

What Type of Insurance Does Settlers Life Offer?

Settlers Life is a specialized insurance company with a focus toward final expense products. Their only insurance product offered is as follows.

Your independent insurance agent can help you find more information about the coverage offered by Settlers Life, and help you decide if this insurance company is right for you.

Using our insurance company directory can help you find the best insurance companies that specialize in your specific coverage needs. The company directory can also help you get connected to an agent near you.

What to Know about Settlers Life

Settlers Life was founded in 1933, under the name the Huff-Cook Mutual Burial Association, giving the carrier more than 85 year's worth of experience in the insurance industry. The insurance company was changed to Settlers Life in 1984, however, since they are a final expense focused life insurance company, they no longer write new business policies.

Today, Settlers Life still focuses its efforts on providing final expense insurance for consumers in need. Coverage is offered in 47 states across the country. The insurance company's LinkedIn profile states that Settlers Life has between 51 and 200 employees, with 50 of them found on the social media platform. As far as financial size, A.M. Best places the carrier in the $250 million to $500 million category.

Settlers Life has earned a reputation as a stable insurance company with a positive outlook for the future. A.M. Best, the leading global credit rating agency monitoring the insurance industry, gives Settlers Life an “A-” rating, indicating the carrier is an excellent choice for insurance customers. High ratings from A.M. Best assure customers that Settlers Life can offer guaranteed, reliable coverage from a financially sound carrier.

Established in 1899, A.M. Best is one of the oldest rating companies in the world. Reviews from A.M. Best indicate an insurance company’s financial strength and creditworthiness and are based on comprehensive evaluations of the company’s operating performance, business profile, and balance sheet. For customers who are not as familiar with insurance companies’ respective reputations, A.M. Best’s ratings system allows them to make an informed decision about who they can trust to meet their needs in the short term, and also who will  remain a strong, financially sound company in the long term.

What Discounts Does Settlers Life Offer?

Settlers Life does not make information about their specific discounts available on their official website nor their social media pages.

An independent insurance agent can provide better discount and premium information for coverage through Settlers Life. When it comes to coverage, independent insurance agents work hard to help to get you the most out of your money.

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Settlers Life Customer Service

Settlers Life offers 24/7 email claims reporting for its policyholders. The carrier also provides the following customer service options.

• Online bill pay
• Email contact option
• Online form claims reporting

Speaking with an independent insurance agent is the best way to ensure a great customer service experience. Independent insurance agents can help handle claims and other matters for you, so you can relax and enjoy your coverage.

Settlers Life FAQ

What is Settlers Life's average claim response time frame?

Settlers Life offers claims reporting through a couple of mediums. However, the insurance company does not provide an official claims response time frame promise.

What is Settlers Life's customer service availability?

Settlers Life allows customers to file claims over the phone during business hours, 24/7 by online form, email, fax, or mail. Their official website specifies its business hours on the carrier’s official website and social media pages. The carrier’s social media presence extends across Facebook, Twitter, and LinkedIn, which makes them a bit more accessible to customers.

What is Settlers Life's claims process?

Settlers Life offers a couple of options for claims reporting. However, the insurance company does not detail their claims process on their official website or social media platforms. If customers have questions about filing or the claims process itself, they can contact the carrier via phone, online form, fax, mail, or email or get in touch with their independent insurance agent.

Does Settlers Life's insurance create a user-friendly experience for customers?

Settlers Life’s official website could certainly use an update. The carrier does not provide much information about their claims process or detail a claims response time frame. They also do not list much information about their coverage. Online bill pay is available, as is 24/7 claims reporting via online form, which is a nice, modern customer service feature. So, while Settlers Life is not awful in terms of user-friendliness, they could stand to update their practices in a few areas.

Settlers Life Customer Reviews

google.com

“I had insurance with Settlers and it was a good company. Unfortunately when it changed to NGLIC things got messed up. I had a lapse in insurance one month, that I wasn't aware of at the time. I received a letter stating that insurance was being cancelled. I had no choice but to request money I had paid into policy.  They sent check, But Are Still Drafting Money Out Of My Bank Account Monthly For The Policy They Said Was Cancelled. I have bank statements to prove it, and I will be expecting to get this money back.” —Melissa F. Settlers Life is a subsidiary of  National Guardian Life Insurance Company (NGLIC).

google.com

“Been with them for about 17 yrs and I love them. Great prices and offers several different things along with burial coverage. Always spoken with very professional people.” —Latricia N.

google.com

“Best customer service I've ever come across in the industry!” —Bon Bob

google.com

“Love it.” —Douglas A.

google.com

“Customer service got worse after they sold to NGL. this company is no longer writing policies. look elsewhere for your coverage needs.” —Jacob A. Settlers Life is a subsidiary of  National Guardian Life Insurance Company (NGLIC).

TrustedChoice.com's Final Review

We award Settlers Life Insurance Company a final rating of 3.4 out of 5 stars. The insurance company has been around for more than 85 years now, which is significant within the industry. However, it seems the carrier has not used this time to their advantage. Though Settlers Life has received high ratings through A.M. Best they have had several customer complaints filed against them in recent years due to a change in ownership. While coverage is offered in 47 states, their catalog is extremely limited, with a focus on only final expenses insurance. The insurance company provides 24/7 claims reporting via online form and online bill pay. There is not much information about the carrier’s coverage on their official website, nor is there a claims response time frame promise or an outline of their claims process at all. It is challenging to find any customer feedback about the insurance company online, but the few reviews that are available are pretty good. So, currently it is fairly easy to say positive things about this carrier. So, our recommendation is that if you are in the market for final expense coverage, survey your options for trusted carriers with your independent insurance agent, and perhaps look further into Settlers Life.