columbus life insurance review

Columbus Life Insurance Company Review 2020

By James Tobin, CFP®

 

Critical Takeaways

  • A.M. Best Rating :  A+
  • Term , UL And  Whole Life Offered
  • Highly Rated Permanent Products
  • Term Pricing Inconvenient To Compare
columbus life insurance review

Life Insurance Help Desk Rating

COLUMBUS LIFE INSURANCE COMPANY REVIEW 2020
COMPARE RATES INSTANTLY
  • Male Female
    Yes No

Expert Review Of  Columbus Life Insurance Company

Jim Tobin promo

Reviewed by

Jim Tobin, CFP®

Why you can trust this review

At Life Insurance Help Desk, we value our editorial independence. We keep our reviews strictly factual so you can use them to make informed decisions. Life insurance carriers referred to on this site do not approve reviews. 

Columbus Life Insurance  is a member of the Western & Southern financial services family.

This Columbus life insurance review will address company history, financial ratings, and the positives and negatives of the Company.

Additionally, unlike many Columbus  life Insurance reviews, it  it will address some specific  situations where it may make more sense to go outside the Western & Southern family of products. 

The goal is to make sure that you get the policy that provides you the most value.

Columbus Life Insurance  History

The company offers conventional term insurance products to its customers with term periods of 10, 20, and 30 years similar to many other life insurance companies.

Term policies purchased from Columbus Life can be converted into permanent term insurance products offered by the same company – however, the conditions for such conversions varies depending on the policy type.

Although most insurance carriers do provide conversions, Columbus Life sets itself apart in that it allows customers to convert their policies into one that is widely regarded to be one of the best whole life insurance products in the market.

Columbus Life Insurance Company Ratings

Columbus Life Insurance received strong ratings for financial stability. This indicates that the company is in strong position to meet its obligations going forward.  

  1. A.M. Best Company:  Columbus Life rating given by A.M. Best was an A+ (Excellent).
  2. Fitch Ratings:  Columbus Life  rating given by Fitch was an AA (Excellent). 
  3. S&P Ratings- Columbus Insurance rating given by Moody's was an AA- (Strong).
  4. Comdex Score- 96/100

Columbus Life Term Insurance

The company offers conventional term insurance products to its customers with term periods of 10, 20, and 30 years similar to many other life insurance companies.

Term policies purchased from Columbus Life can be converted into permanent term insurance products offered by the same company – however, the conditions for such conversions varies depending on the policy type.

Although most insurance carriers do provide conversions, Columbus Life sets itself apart in that it allows customers to convert their policies into one that is widely regarded to be one of the best whole life insurance products in the market

Other Carrier Products

Columbus Life also offers several flagship permanent life insurance products apart from its term life insurance policies.

Their whole life insurance product has a reliable dividend history along with a powerful PUA or Paid Up Addition rider.

Apart from whole life insurance products, you can also purchase indexed universal life insurance products from Columbus Life. The company also has many offerings in the annuity policies field. 

Columbus Life Insurance Term Rates and Quotes


The company markets all its products via independent brokers and agents.

Since not many independent brokers are affiliated with Columbus Life Insurance, you will have to use their official website to get hold of an agent affiliated to them in order to obtain an insurance premium quote. This appears to be the only way to obtain a quote for now.

Once you’ve been issued an insurance quote, you may compare this with the quotes issued by other major carriers to find the best possible deal for yourself. Check out our convenient quote tool available on this website to compare quotes easily. 

Are Columbus Life Insurance Rates Competitive?

The company does offer competitive rates, but not all the time.

Since our quote tool currently does not have enough information regarding premiums charged by Columbus Life, it is slightly difficult to make an accurate comparison.

But speaking from experience, any insurance carrier (even a good company life Columbus Life) that doesn’t have transparent premium pricing policies, is unlikely to be the market leader in terms of cost.

Companies like Lincoln, Protective, and Banner Life are likelier to have less expensive premiums. Impaired risk insurance carriers like Prudential might cost you more.

Cases where Columbus is not a great choice

Though you may find the premiums charged by Columbus Life to be cost-effective under certain circumstances, you should keep in mind that different insurance carriers have different risk appetites for certain health conditions.

It’s difficult to say whether Columbus Life offers the most competitive premiums out of all the companies on the market today.

This is why we recommend consulting an independent insurance agent if you want an insurance policy that provides terrific value for money. People with pre-existing conditions should strictly stick to their agent’s advice.

However, if you’re already using other products from Columbus Life, you may be able to derive more benefits since all your insurance products are from the same company.

Columbus Life Suicide Exclusions

Every insurance policy issued in the US comes with a standard 2-year suicide clause. (Some states may have a 1-year exclusion period instead). 

Columbus  Life Insurance Customer Service

The National Association of Insurance Commissioners reports a 2018 complaint index of .11 for Securian. This is well below the national average of 1 percent

While Columbus Life Insurance is not rated by by JD Power & Assoc., it has a Better Business Bureau rating of A-.

Columbus Life Insurance Contact Info:

Address: 1 Columbus Plaza
New Haven, CT 06510

Phone:(203) 752-4000

Web:https://www.kofc.org/en/index.htm

The Columbus Life Insurance Review Final Verdict

Is Columbus Life Insurance Company right for you? It really all depends on your situation.

 If you have notable health impairment(s), you will likely be better suited by shopping around on the open market where it is convenient to make apples to apple comparisons. 

Moreover, having the use of an independent expert who can send your application to a carrier that is likely to view you in the best possible light has value that Columbus Life can't offer.

However, if you happy with other services being being provided by Western & Southern,  it may be convenient to keep things "in house".  

Thank you for choosing the Life Insurance Help Desk to shop for life insurance.

Bonus: The most common mistakes people make buying life insurance and how to avoid them

(Click Twice)

The Time to get covered is now!...

See just how easy buying life insurance can be....compare accurate life insurance rates in just seconds.

__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"rgb(5, 5, 65)","hsl":{"h":240,"s":0.86,"l":0.14}}},"gradients":[]}}]}__CONFIG_colors_palette__
Get Started Now