Columbus Life Insurance Company

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While it has less brand recognition than some of its competitors, Columbus is a name you can count on for relatively affordable term and universal life insurance.

A.M. Best

A+

Standard & Poor’s

AA-

BBB

A+

The Good

  • Financially secure
  • Extensive riders
  • Multiple universal options
  • Fair underwriting

The Bad

  • Limited policy types
  • No online quotes

Product Availability

Policy Types
  • Term
  • Universal
Riders
  • Accelerated death benefit
  • Accidental death and specific loss
  • Children’s term
  • Disability credit
  • Dollar cost averaging account
  • Estate protection
  • Insured insurability
  • No-lapse guarantee
  • Other insured
  • Overloan protection
  • Persistency bonus
  • Premium deposit account
  • Return of premium
  • Waiver of premium

Review Breakdown

Overall

4.01

Price/Value

3.6

Financial Strength

3.9

User Experience

3.5

Product Availability

2.2

Brand/Size

3.8

Price/Value

The life insurance company you choose to do business with will likely be the most affordable one.

As long as the company is financially solvent and has what you’re looking for in terms of coverage, going with the most affordable choice is a smart move.

Overall, Columbus Life’s policies are reasonably priced, though they may not always be the most competitive on the market.

Young and healthy applicants may find cheaper coverage elsewhere.

However, Columbus wins out among its competitors in some situations.

For instance, they have special underwriting capabilities for those seeking life insurance as a marijuana user, as well as a few other niche markets.

The best way to determine whether Columbus has the lowest rates for you is to compare quotes.

Financial Strength

As we mentioned above, it’s crucial to pick a company that’s not just affordable, but also financially stable.

You need to know that regardless of what happens, your life insurance company will have the ability to pay out your policy to your family.

We can determine a company’s financial solvency by looking to their performance and also their credit ratings.

Columbus Life Insurance Company has over $4.4 billion in total assets and $311 million in revenue.

The company also has an impressive array of credit ratings, which suggests they have a strong financial outlook for the future.

Columbus’ ratings are as follows:

A.M. BestA+
FitchAA
Moody’s Aa3
Standard & Poor’sAA-

Its parent company, Western and Southern Financial Group, also holds excellent financial security ratings.

All in all, you can wholeheartedly trust Columbus with your family’s life insurance needs based solely on the company’s financial strength.

User Experience

Another important factor that sometimes gets overlooked is the user experience a life insurance company provides for customers.

Ideally, a life insurance provider should make researching, purchasing, and managing their policies simple.

To evaluate Columbus’s user experience, we took a look at factors like its:

  • Customer reviews
  • Website
  • Claim process
  • Application

Ratings

Two of the best indicators of user experience are ratings from J.D. Power’s annual life insurance survey and the Better Business Bureau.

Columbus did not make J.D. Power’s list of ranked companies, but it is accredited and highly ranked by the BBB.

The company earned an “A+” for its complaint history, transparency, and business practices.

Website

Columbus has always been committed to using technology to streamline its customer experience.

Its website works towards that goal, with information on the company’s history and financial performance.

The site also offers basic details about its life insurance products and annuities so you can explore policy options.

Though you can’t compare quotes or calculate your coverage needs easily on the site, you can get matched with agents near you and opt to have them contact you.

Policyholders can manage some of their account details online through the client portal, and the claims process can be started with an online form on the Columbus website.

Application

To get quotes from Columbus, you’ll have to reach out to one of their local agents, who can help walk you through Columbus Life’s application process.

Traditionally underwritten life insurance usually involves a quick interview to complete the application.

From there, you may have to undergo a medical exam, which you can schedule at a time and place that is convenient for you.

You’ll also need to consent to the collection of your information from the Medical Information Bureau, DMV, and your doctors.

Once you complete these steps, your application is submitted for underwriting to determine your rates.

With its experienced agents and technological tools, Columbus makes the application process a smooth one, though it may not be ideal if you’re looking for a simplified policy with little agent interaction.

Product Availability

Columbus offers two of the most popular types of life insurance: term and universal, along with deferred and immediate annuities.

We’ll focus on their life insurance policies specifically below.

Term

If you need a basic term policy with a simple level premium and level death benefit, check out the Nautical Term® from Columbus Life Insurance Company.

You get everything you need from a simple term life insurance policy, with:

  • Issue ages from 18 up to 75
  • 10, 15, 20 and 30-year level duration
  • Included Accelerated Death Benefit Rider
  • Other optional riders

The additional optional riders, which vary from state to state, include Accidental Death, Children’s Term, Return of Premium, and a Waiver of Premium Rider.

Universal

The universal life insurance product lineup is the most robust one from Columbus Life Insurance Company.

Your options include:

  1. Explorer Plus®: Benefits range from $25,000 to $100,000, with policy limits based on your age and health class.
  2. Voyager Universal Life®: This policy offers up to $100,000 of guaranteed no-lapse coverage to applicants between 0-79.
  3. Indexed Explorer Plus®: With one fixed and three indexed options, this policy provides room for growth and comes with flexible payment options.
  4. Expedition SIUL™: This survivorship policy provides protection for both you and your spouse or business partner, with index-based growth options.

Whether you’re looking for a permanent policy for a newborn, or need a policy on yourself or a parent who is 85, Columbus Life has a permanent life insurance solution for you.

They offer something for all situations, whether it’s a guaranteed death benefit, growth accumulation, or some type of asset preservation.

Brand/Size

Starting out in 1906 as Columbus Mutual, Columbus Life has provided top-notch life insurance products to the masses for over a century.

Combine that with the safety and security of their brand, and you have an excellent choice for a life insurance company to represent you, your family, and your future.

The Santa Maria adorns the Columbus Life logo, representing perseverance, dedication, and freedom of choice.

These three features symbolize their history, their 3,000+ financial representatives who do business in 49 states, and the array of policies their loyal customers can choose from.

Today, Columbus Life is headquartered in Cincinnati, Ohio, though they are operating nationwide, including D.C., with the lone exception of New York.

Keeping its focus tight, Columbus excels at offering affordable annuities and life insurance, not veering into other financial products.

However its parent company, Western and Southern Financial Group, also offers investment services, retirement accounts, and additional lines of insurance.

Brand Recognition

Columbus Life Insurance isn’t the most familiar household name across the country, but it has worked to build a solid reputation in the industry and homes for more than a century.

The company does not appear to have a strong social media presence, nor does it promote its philanthropic efforts and community involvement online.

Columbus does have a private Twitter account and a Facebook account with a considerably small following.

It also has a Youtube channel with educational and promotional videos regarding its products and other useful financial topics.

Consensus

There’s a fairly positive consensus among both industry experts and life insurance shoppers regarding Columbus Life Insurance.

The company doesn’t always sit high in online reviews of the best life insurance companies, but that’s largely due to the company’s lack of branding and engagement with the public.

But the lesser-known company actually has a few excellent target markets within the industry.

Though you may not have heard of Columbus, you can expect a great product at a fair price.

Columbus Life Insurance Company is a forward-moving company you can trust for financial strength, valuable coverage, and solid customer service.

Columbus Life Insurance Company

Phone
(800) 677-9595
Address
400 East Fourth Street
Cincinnati, OH 45202

Company Name (and subsidiaries)

  • Western and Southern Financial Group (Parent)

Author:

Avatar

Jason Fisher

Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.