Oxford Life Insurance Company

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Life insurance comes in many shapes and sizes.

While some people need millions of dollars of term life insurance to provide for their loved ones’ living expenses, others need permanent policies just big enough to cover the cost of final expenses.

Businesses like Oxford Life Insurance Company were designed with the latter in mind, offering burial policies and a number of other insurance products for seniors.

In this review, we’ll take a closer look at those policies, as well as Oxford Life’s history and financial performance, to help you decide if it could be the right company for you.

Quick Links

  1. History
  2. Ratings
  3. Products
  4. Sample Rates
  5. Company Summary

Our Oxford Life Insurance Company Review

Oxford Life Insurance Company logoOxford Life had its start in 1965, making the company is relatively young by life insurance industry standards.

Many of its strongest competitors have been in business for over a century, but this hasn’t held back the fledgling life insurance company.

Oxford Life has consistently expanded its portfolio of options to service its policyholders and companies, which is why it’s still a competitive player in the industry.

The company opened its doors in Phoenix, where it still has its headquarters today.

Oxford Life Insurance Company provides insurance products designed for the senior market.

The company’s portfolio includes life insurance, annuities, and Medicare supplements, among other financial instruments.

The stated mission is “to provide products and services promoting financial security” for people who have entered retirement.

One of the most significant developments in the company’s history occurred in 2000 when it acquired Christian Fidelity Life Insurance Company.

The acquisition included Christian Fidelity’s 30,000 policyholders across the United States.

Oxford Life is also the holding company for North American Insurance Company.

That portion of its insurance business has 60,000 unique policyholders. The acquisition was part of a purchase of Encore Financial in 1997.

Oxford Life Insurance Company is part of a publicly-traded financial holding network called AMERCO.

Financial Strength and Ratings

The financial well-being of an insurance provider can be a reliable indicator of their future performance.

Oxford Life Insurance Company performs above average in terms of liquid assets and surplus to insurance in force.

As of 2017, the company had $1.9 billion in admitted assets, $493 million in total income, and $1.7 billion for insurance in force.

Those numbers have grown recently, too. The total assets are up by thirteen percent as of 2018, and total liabilities are up by fourteen percent.

This stable financial outlook helped Oxford Life earn an “A-” rating from A.M. Best, the fourth-highest possible rating out of A.M. Best’s thirteen tiers.

The rating is synonymous with the word “excellent.”

The Better Business Bureau (BBB) is an organization that rates the quality of service provided by companies and organizations.

The BBB gives Oxford Life a rating of “A-“, though there is no corresponding accreditation.

Based on the company’s financial performance and ratings, policyholders can confidently expect Oxford Life to meet its ongoing insurance obligations in the future.


Oxford Life offers a handful of products to meet policyholders’ needs as they enter into retirement.

We’ll take a look at each of these policies below.

Final Expense Life Insurance

Oxford Life’s Final Expense Life Insurance plan is also known as Assurance.

The policy provides financial coverage to the loved ones of the policyholder after he or she dies.

This policy can cover a range of costs, including funeral expenses, medical bills, and more.

The policy caters to people ages 50 to 85 and comes with coverage ranging from $5,000 to $30,000.

Premiums for this policy are guaranteed to remain level throughout the duration of the policy.

Oxford Life’s final expense policy is a form of no exam coverage. Applicants simply fill in a medical questionnaire and receive an immediate decision on approval.

Assurance: Final Expense Life Insurance also comes with accelerated benefits for terminal illness and familiar carrier riders.

Single Premium Life Insurance

Assurance One: Single Premium Final Expense Life Insurance features a range of benefits for individuals between the ages of 55 and 80.

Coverage for this final expense option spans from $5,000 to $30,000. One of the policy’s central features is its cash value, which grows over time.

There are no medical exams or policy cancellations, and people only need to pay the premium once.

Prosperity Select: Single Premium Life Insurance is the premium version of Assurance One.

The coverage applies to people age 55 to 80 and ranges from $30,000 up to $500,000.

It also comes with many of the same features as Assurance One, with no exam coverage and no policy cancellations.

There is even a liquidity feature, which allows policyholders access to the money in case of an emergency.


Annuities have been a central product of the Oxford Life Insurance Company for decades. The company offers four types of annuities:

  • Multi-Select: This annuity locks the interest rate for a fixed time. Policyholders can choose the length of time, giving them the ability to build long-term funds for retirement or other expenses.
  • Select Series: This option comes with the guaranteed safety of the principal investment, as its growth corresponds with the S&P 500 index. Policies range from 3-10 years, with a 6.75% accumulation rate, though there is a 10% withdrawal charge for the first year.
  • Silver Select: This annuity’s growth is also based on the stock market. It has a 4% premium bonus, which boosts your accumulation and income account value if you have a Guaranteed Lifetime Withdrawal Benefit (GLWB) rider. Policies over 11 years do not have withdrawal fees.
  • Royal Select: The last annuity option boosts funds by 8% after the initial deposit. Royal Select targets long-term wealth expansion and features perks for GLWB riders. Oxford Life pays out regular increments as opposed to a lump sum.

Medicare Supplement

Last, Oxford Life offers Medicare Supplement insurance.

This gap coverage can also include co-payments, coinsurance, and deductibles.

The policy, also known as Medigap, can help lower out-of-pocket expenses, like Part A deductibles and co-payments, nursing home and extended hospital care, ambulance rides, outpatient services, and more.


Oxford Life isn’t the only company with an emphasis on seniors.

You should always get quotes from multiple companies to ensure you get the best policy and rates possible.

As you compare final expense policies, take a look at the alternatives below:

  • Gerber: In addition to covering babies, Gerber offers no exam guaranteed coverage up to $25,000 for applicants between the ages of 50-85, with comparable premiums.
  • Mutual of Omaha: Mutual of Omaha is a champion in the final expense arena, with quick underwriting, competitive prices, and a number of final expense policies to choose from.
  • Transamerica: Transamerica offers competitively priced final expense policies, with no waiting period, guaranteed premiums, and a number of flexible payment options.


Oxford Life Insurance has some admirable qualities and features which may appeal to older audiences.

To recap, Oxford Life stands out for the following:

  • Strong reputation: A significant advantage of Oxford Life Insurance is its robust financial rating. The company has been an above-average performer in the life insurance industry for years, despite not being as established as some of its peers.
  • Product lineup: Oxford Life also has a substantial range of products, including life insurance, annuities, and Medigap. These offerings come with flexible features, which let the senior audience choose policies that work best for them.
  • No exam coverage: Many of Oxford Life’s plans do not require a medical exam, either. Instead, Oxford Life typically needs no more than a medical questionnaire.


No company is without its flaws, however.

Consider some of Oxford Life’s shortcomings:

  • Age: One of the primary disadvantages surrounding Oxford Life Insurance Company is that it is still up-and-coming in the industry, to an extent.
  • Availability: Oxford Life is also only available in 26 states, with a central focus in the Southern region of the United States.
  • Product availability: The laser-focus on a senior audience works as a double-edged sword. Oxford Life does not have plans that appeal to the needs of younger customers, like term life insurance.

Final Thoughts

If you’re in the market for final expense insurance and live in one of the states where Oxford Life does business, the company might be worth your time.

With an impressive reputation and solid financial performance, Oxford Life is a viable company you can trust with your life insurance.

Their life insurance, annuities, and Medigap products can help you maneuver through the financial changes you face later in life, protecting you and your loved ones when it matters most.

Before you purchase a policy from Oxford Life or any company, be sure to compare quotes from all the major companies you may have access to in your state.

There’s no greater way to ensure you get the absolute best policy to meet your needs, at the lowest price possible.

Oxford Life Insurance Company

(866) 641-9999
2721 N Central Ave
Phoenix, AZ 85004

Company Name (and subsidiaries)

  • AMERCO (parent)
  • North American Insurance Company (NAI)
  • Christian Fidelity Life Insurance Company (CFLIC)


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.