Peterson International Underwriters (PIU): A Full Review

Advertiser Disclaimer

Certain links on this page will refer you to products we might recommend. This creates no additional cost to you, and helps provide us an income so we can continue to bring valuable information to your fingertips. For more information on how we're paid, click our link below.
Full Disclosure

Peterson International Underwriters stand alone among other life insurance carriers.

We’re not saying they’re the best company, bar none, just how they are undoubtedly one of the most unique in the business.

While this uniqueness is beneficial to most, it’s also a hindrance to some. Those looking for simple, basic coverage might not find what they need from Peterson International Underwriters.

On the flip side, those who need highly specialized life insurance should definitely check out the unique offerings from Peterson International Underwriters.

Here’s our in-depth review of Peterson International Underwriters, also known as PIU.

Key Details on PIU

peterson international underwriters logoThe most important things you should keep in mind about Peterson International Underwriters are:

  • Innovative company
  • Dozens of insurance types
  • Accelerated underwriting process

Perhaps the most important detail about Peterson International Underwriters is their innovative approach to the industry.

This innovation is apparent in both the plans they offer, as well as their accelerated underwriting process which allows you to receive coverage faster.

In addition to both their basic and advanced life insurance policies, PIU also provides a variety of other insurance types.

The company focuses on:

  • accidental death coverage
  • kidnap and ransom plans
  • special risk contingency coverage

Another unique factor about Peterson International Underwriters is they offer some of their insurance types across the globe. An example is their international medical coverage.

Simply put, PIU is happy to cover those with risks other insurance carriers deem far too great to insure.

What Peterson International Underwriters is All About

PIU is all about offering coverage to high risk individuals as well as providing a wide range of coverage types which encompass all situations.

This extends from their life insurance coverage to all their other insurance offerings.

Though we’ll make note of PIU’s other types of insurance coverage throughout this review, remember the bulk of the review focuses on their life insurance plans and related additional features.

So, let’s talk about life insurance for a moment. It’s worth noting right from the get-go Peterson International Underwriters doesn’t offer what you probably think of as traditional life insurance coverage.

Because of their dedication to insuring high risk individuals, the life insurance coverage offered by PIU is somewhat limited.

Two main types of coverage are offered:

  • High limit accident
  • International term life

Both forms of life insurance coverage are limited to a set period of time rather than the rest of your life. Premiums are also higher than traditional plans and the policies are for a lower amount overall.

Despite these obvious setbacks, the life insurance alternatives offered by Peterson International Underwriters still prove beneficial to a lot of people.

Their high limit accident coverage is perfect for providing a death benefit in the event of an accident which takes your life. Coverage for individuals and groups ranges from $100,000 up to $100 million.

In addition to covering accidental death, these plans also help cover permanent disability due to an accident.

The high limit accident coverage offered by Peterson International Underwriters covers a wide range of accidents, including those considered high-risk like aviation, mountain climbing, or traveling to dangerous locations.

The other main life insurance option offered by PIU is international term life. This is a more standard life insurance alternative.

International term life covers you when you’re at home or away. It doesn’t require a medical exam, but still provides a death benefit to your family if you pass away.

The term life offered by many life insurance providers isn’t valid when you’re on international soil. This is exactly why the international term life from PIU is so beneficial.

A Quick Case Study

One of our clients needed coverage for an SBA loan.

If you know anything about SBA loans, they’re simply loans offered by the government to help small businesses begin, or expand, with leverage. However, a mandatory requirement for an SBA loan is life insurance!

We had a gentleman who had an impeccable application to qualify with the Small Business Administration, with the exception of being able to qualify for a traditional life insurance policy.

After exhausting more than 10 different carriers, he was running on a very tight deadline to find coverage.

PIU was able to not only offer coverage, but beat his deadline by more than a week!

What Makes Peterson International Underwriters So Unique?

As we’ve mentioned several times already, the main thing which makes PIU stick out from the pack is their high-risk insurance.

The company offers two form of high-risk life insurance, including international term life coverage for all individuals.

Beyond these offerings, PIU is notable for the wide range of additional insurance coverage types they offer. You’d be seriously hard-pressed to find a near diverse offering from any other provider.

Finally, Peterson International Underwriters provides a number of additional features allowing you to enable your plan specifically to your individual needs and preferences.

The Application Process

The worst part about applying for life insurance is the wait.

Most life insurance companies require at least a 4 to 6 week waiting period. During this time, their underwriters review your application to assess your risk.

Peterson International Underwriters does away with this wait. Their unique expedited underwriting process delivers results in as little as one day.

It’s worth noting part of the reason for this expedited underwriting is Peterson International Underwriters doesn’t require medical exams for their life insurance coverage.

Because they don’t offer traditional forms of life insurance coverage, they’re less worried about the level of risk you pose to their company.

As far as the application process itself goes, it’s simple and straightforward. Simply fill out the electronic application with your basic information, send it in, and wait to be notified in as little as one day.

Additional Features

Peterson International Underwriters offers a smattering of additional features to help you ensure your life insurance plan is right for your needs.

You might also be interested in checking out the other forms of insurance they offer, including contingent plans (such as kidnap and ransom insurance), personal high-limit disability insurance, business disability insurance, athlete disability insurance, and much more.

What We Like About Peterson International Underwriters

Peterson International Underwriters has several key benefits which are worth considering if you’re looking at this company for life insurance.

These top benefits include:

  • Accelerated underwriting
  • Reputable name and history
  • Innovative insurance types
  • Lots of plan options
  • No exam coverage

Be sure to consider how all these benefits blend together to offer the total package from PIU.

What We Don’t Like About Peterson International Underwriters

What we can say is this – Peterson International Underwriters is certainly not the best choice for everyone.

Those interested in traditional life insurance coverage should look elsewhere. However, those looking for unique alternatives, especially for high-risk individuals and situations, have found the right place.

Who is Peterson International Underwriters Best for?

The answer is simple.

Peterson International Underwriters is best for individuals other companies won’t insure.

PIU focuses on risk. No matter how risk your lifestyle, career, or situation, there’s a good chance you can find coverage from Peterson International Underwriters.

They offer a wide range of coverage types suitable for individuals, businesses, international travel, athletes, and much more.

Peterson International Underwriters Customer Service

It seems PIU falls somewhat flat in the customer service department.

The company is difficult to contact at times. However, when you are able to contact them, all their representatives are friendly, knowledgeable, and professional.

We’d just like Peterson International Underwriters to be easier to contact, especially considering some of their plans are confusing.

If you’re interested in a plan from PIU, it’s almost a given you will need to be walked through the options to find the one which is best for you.

The Verdict

It’s difficult to give a final verdict to a company as unique and innovative as Peterson International Underwriters.

The fact is, they’re certainly not the best choice for the majority of people. They don’t offer any types of traditional life insurance coverage.

That said, they are a great option for alternative forms of coverage, especially for those denied by other life insurance providers.

We recommend high risk individuals ONLY who are having a difficult time of finding life insurance check out Peterson International Underwriters.