Prosperity Life Insurance Review (2024)
Prosperity Life has been selling life insurance products and other financial services for over 100 years. While this company specializes in final expense life insurance, they are a great life insurance choice for estate planning. Prosperity Life also offers term life insurance, whole life insurance, and universal life insurance policies with rates starting as low as $16.38/mo.
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Mary Martin
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Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
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UPDATED: Aug 28, 2024
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Prosperity Life has been in the business of selling life insurance for more than 100 years. The company was initially formed in 1916 and was named the Shenandoah Life Insurance Company. The company did not adopt the Prosperity Life branding until the year 2009.
Prosperity Life sells many different products, including annuities, Medicare supplement plans, and life insurance policies.
For the purpose of this Prosperity Life insurance, we will only be looking at the life insurance products offered by Prosperity Life. If you want more information regarding this company’s other services, please reach out to them for more details.
This company sells four different life insurance products – term life insurance, whole life insurance, universal life insurance, and final expense life insurance.
While Prosperity Life has a decent selection of life insurance products, this company’s most popular policy is the final expense life insurance.
Let’s get a closer look at the life insurance rates on Prosperity Life products, the details of the life insurance policies sold, and the company’s financial strength rating.
If you’re interested in Prosperity Life insurance and want to see quotes from other life insurance companies in your area, enter your ZIP code above to compare life insurance rates from the top providers in your area.
How much does Prosperity life insurance cost?
We weren’t able to find any rate information on this company’s term life, whole life, or universal life insurance policies. However, we were able to gather rate information for Prosperity Life’s final expense life insurance policies.
If you’re ready to compare Prosperity Life insurance quotes to other providers, check out the table below to see a detailed breakdown of this company’s final expense life insurance rates for women.
Prosperity Final Expense Life Insurance Monthly Rates for Women| Age (Women) | $5,000 Policy Monthly Rates | $10,000 Policy Monthly Rates | $15,000 Policy Monthly Rates | $20,000 Policy Monthly Rates |
|---|---|---|---|---|
| 50 | $16.38 | $29.15 | $41.93 | $54.70 |
| 51 | $16.45 | $29.30 | $42.16 | $55.01 |
| 52 | $16.53 | $29.47 | $42.40 | $55.33 |
| 53 | $16.61 | $29.62 | $42.63 | $55.64 |
| 54 | $16.69 | $29.78 | $42.87 | $55.96 |
| 55 | $16.77 | $29.93 | $43.10 | $56.27 |
| 56 | $17.36 | $31.12 | $44.88 | $58.64 |
| 57 | $17.96 | $32.32 | $46.68 | $61.04 |
| 58 | $18.55 | $33.51 | $48.46 | $63.41 |
| 59 | $19.15 | $34.70 | $50.24 | $65.79 |
| 60 | $19.74 | $35.88 | $52.02 | $68.17 |
| 61 | $20.59 | $37.58 | $54.58 | $71.57 |
| 62 | $21.45 | $39.29 | $57.14 | $74.99 |
| 63 | $22.30 | $41.00 | $59.71 | $78.41 |
| 64 | $23.16 | $42.71 | $62.27 | $81.83 |
| 65 | $24.01 | $44.42 | $64.84 | $85.25 |
| 66 | $25.48 | $47.37 | $69.25 | $91.13 |
| 67 | $26.95 | $50.30 | $73.65 | $97.00 |
| 68 | $28.42 | $53.24 | $78.07 | $102.89 |
| 69 | $29.89 | $56.19 | $82.48 | $108.77 |
| 70 | $31.37 | $59.13 | $86.90 | $114.66 |
| 71 | $33.47 | $63.34 | $93.21 | $123.08 |
| 72 | $35.58 | $67.55 | $99.53 | $131.51 |
| 73 | $37.68 | $71.77 | $105.85 | $139.93 |
| 74 | $39.79 | $75.98 | $112.17 | $148.36 |
| 75 | $41.90 | $80.19 | $118.49 | $156.78 |
| 76 | $43.70 | $83.81 | $123.91 | $164.02 |
| 77 | $45.52 | $87.44 | $129.35 | $171.27 |
| 78 | $47.33 | $91.05 | $134.78 | $178.51 |
| 79 | $49.14 | $94.68 | $140.22 | $185.76 |
| 80 | $50.95 | $98.30 | $145.65 | $193.00 |
Are you interested in seeing the final expense life insurance rates for men? Check out the table below to see Prosperity Life insurance rates for men.
Prosperity Final Expense Life Insurance Monthly Rates for Men| Age (Men) | $5,000 Policy Monthly Rates | $10,000 Policy Monthly Rates | $15,000 Policy Monthly Rates | $20,000 Policy Monthly Rates |
|---|---|---|---|---|
| 50 | $19.06 | $34.52 | $49.97 | $65.43 |
| 51 | $19.37 | $35.14 | $50.90 | $66.67 |
| 52 | $19.68 | $35.76 | $51.84 | $67.91 |
| 53 | $19.99 | $36.38 | $52.77 | $69.16 |
| 54 | $20.30 | $37.00 | $53.70 | $70.40 |
| 55 | $20.61 | $37.62 | $54.63 | $71.64 |
| 56 | $21.42 | $39.25 | $57.07 | $74.90 |
| 57 | $22.24 | $40.88 | $59.52 | $78.16 |
| 58 | $23.05 | $42.51 | $61.96 | $81.41 |
| 59 | $23.87 | $44.14 | $64.40 | $84.67 |
| 60 | $24.69 | $49.99 | $66.86 | $87.95 |
| 61 | $25.92 | $48.23 | $70.55 | $92.86 |
| 62 | $27.15 | $50.70 | $74.25 | $97.79 |
| 63 | $28.38 | $53.16 | $77.94 | $102.73 |
| 64 | $29.61 | $55.63 | $81.64 | $107.66 |
| 65 | $30.85 | $58.10 | $85.34 | $112.59 |
| 66 | $33.00 | $62.40 | $91.80 | $121.19 |
| 67 | $35.15 | $66.69 | $98.24 | $129.78 |
| 68 | $37.29 | $70.98 | $104.67 | $138.37 |
| 69 | $39.44 | $75.29 | $111.13 | $146.97 |
| 70 | $41.59 | $79.58 | $117.57 | $155.56 |
| 71 | $45.00 | $86.40 | $127.80 | $169.20 |
| 72 | $48.41 | $93.22 | $138.03 | $182.84 |
| 73 | $51.82 | $100.04 | $148.27 | $196.49 |
| 74 | $55.23 | $106.86 | $158.49 | $210.11 |
| 75 | $58.64 | $113.68 | $168.72 | $223.76 |
| 76 | $62.07 | $120.54 | $179.01 | $237.47 |
| 77 | $65.50 | $127.40 | $189.29 | $251.19 |
| 78 | $68.92 | $134.24 | $199.57 | $264.89 |
| 79 | $72.35 | $141.10 | $209.85 | $278.60 |
| 80 | $75.78 | $147.96 | $220.14 | $292.32 |
You can use the data from the table above to compare affordable Prosperity Life insurance rates with other insurance companies. You can also get more specific life insurance quote information by calling a Prosperity Life insurance agent.
This company has not published its rates for term life insurance, whole life insurance, or universal life insurance. If you want to compare Prosperity Life insurance rates with other term life insurance policies, you will have to contact a life insurance agent for more specific quote information.
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Besides final expense life insurance, what other life insurance products are sold by Prosperity Life?
While final expense life insurance might be the most popular life insurance product sold by Prosperity Life, it also sells whole life insurance, term life insurance, and universal life insurance. These policies are likely not as popular because better policies can be purchased from larger life insurance companies.
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 make your premium payments. These whole life policies also grow a cash value over time that is tax-deferred as well. These policies can be helpful in estate planning.
The cash value of your whole life insurance policy can also be borrowed against, but it is important to note that this will also decrease the death benefit’s amount until it is paid back.
Prosperity Life allows terminally ill whole life insurance policy-holders to access up to 50% of their whole life insurance benefit.
Prosperity Life’s term life insurance policies feature an easy application process. You won’t be required to undergo a medical exam, but you will be asked a few key health questions over the phone, and database records will also be used to make a health determination.
This company’s term life insurance policies are usually approved within 48 hours of the application being submitted. Prosperity Life guarantees that your term life insurance premiums will remain level for the first ten years of your term policy. You can get term coverage of up to 350,000 dollars, all without a medical exam.
Prosperity Life’s universal life insurance policies are single-premium policies. These policies are designed to help transfer wealth with fewer tax requirements.
If you are estate planning and looking for a way to transfer your wealth with the smallest amount of tax burden, the single-premium universal life insurance policy from Prosperity Life is something you should consider.
These policies also grow a cash value over time as well. Like the whole life insurance policies sold by Prosperity Life, the universal life insurance policies cash value can be accessed and borrowed against should you need the money or become terminally ill.
What is Prosperity Life’s financial strength rating?
A.M. Best has given Prosperity Life a financial strength rating of A-. This is a solid financial rating. It indicates that Prosperity Life is in a solid financial position and should make all benefit payments on time and in full.
Financial strength should not be taken for granted in the life insurance industry. Companies with weak financial strength ratings may not be able to deliver the benefits you and your loved ones are expecting.
Seamless Claims Process With Prosperity Life Insurance
Ease of Filing a Claim
Prosperity Life Insurance offers multiple convenient options for filing claims, ensuring that policyholders can choose the method that suits them best. Customers can file claims online through the company’s user-friendly website, over the phone by contacting their customer service team, or through mobile apps designed for a seamless claims process.
The flexibility in claim filing methods demonstrates Prosperity Life’s commitment to providing a hassle-free experience for its policyholders.
Average Claim Processing Time
Prosperity Life Insurance is known for its efficient claims processing system. While specific processing times may vary depending on the nature and complexity of the claim, the company strives to handle claims promptly. On average, policyholders can expect their claims to be processed in a timely manner, reducing the financial stress during difficult times.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is a valuable indicator of an insurance company’s performance in claim resolutions and payouts. Prosperity Life Insurance has received positive reviews from satisfied policyholders regarding their experiences with claim resolutions and payouts. The company’s commitment to fair and prompt settlements has contributed to its reputation for customer satisfaction.
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Exploring Prosperity Life Insurance Cutting-Edge Digital and Technological Features
Mobile App Features and Functionality
Prosperity Life Insurance offers a feature-rich mobile app that allows policyholders to manage their insurance policies conveniently. The app provides access to policy information, premium payment options, and the ability to initiate and track claims. Additionally, it offers useful tools such as policy calculators and insurance resources to help policyholders make informed decisions about their coverage.
Online Account Management Capabilities
Prosperity Life Insurance’s online account management capabilities empower policyholders to have greater control over their insurance policies. Through the company’s secure online portal, policyholders can access their policy details, make premium payments, update personal information, and view policy documents.
This digital convenience simplifies the management of insurance policies, ensuring that policyholders have easy access to essential information.
Digital Tools and Resources
Prosperity Life Insurance provides a range of digital tools and resources to assist policyholders in understanding their insurance coverage better. These resources include informative articles, educational videos, and interactive calculators that help policyholders make informed decisions about their insurance needs. By offering these digital tools, Prosperity Life aims to enhance the overall insurance experience for its customers.
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Prosperity Life Insurance: The Bottom Line
Prosperity Life offers several different life insurance options for consumers to choose from. However, suppose you are not looking for final expense life insurance or no medical exam life insurance policies. In that case, you will likely find better coverage and policies from other life insurance companies.
While Prosperity Life offers many of the policies that larger life insurance companies offer, they still do not have the industry-standard features for their term, whole, and universal life insurance policies that many consumers have come to expect.
If you are older and are looking to plan for the next generation, Prosperity Life could be a good choice for you, but if you are younger and looking for robust life insurance coverage, you will likely be served better elsewhere.
If you want to compare life insurance options from top companies in your area like Prosperity Life, enter your ZIP code below.