TIAA Life Insurance Review

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Few life insurance companies maintain a reputation anywhere near as solid as TIAA-CREF Life Insurance Company.

But even with a high reputation, does it mean they’re the right carrier for you and your family to trust with your life insurance?

With several hundred insurance companies to choose from, see below why we think TIAA is among the top class.

Our TIAA Life Insurance Company Review

TIAA-CREF Life Insurance Company logo

Short for the Teachers Insurance and Annuity Association of America, TIAA has been considered one of the best life insurance providers in the country since their birth in 1918.

Ever since then, the company has been dedicated to providing top quality life insurance products backed up by impeccable financial strength and unmatched customer service.

There’s no denying there are a lot of great life insurance providers out there, but we recommend everybody take at least a quick look at TIAA during their selection process.

Here’s our all-inclusive TIAA Life Insurance review to help you see what this highly-respected company is all about.

Financial Strength & Ratings

The three main things you need to know about TIAA Life Insurance are:

  • Impeccable financial strength ratings
  • Rave reviews from life insurance experts
  • Wide variety of products and features

Of all these benefits, perhaps TIAA’s financial strength ratings are the most impressive. As far as financial strength goes, they are one of the top-rated life insurance providers in the United States.

TIAA currently maintains an:

They boast total assets above $280 billion, and and host more than 91% of their investments into Investment Grade options, which are notably safe.

Basically, these ratings tell you that TIAA Life Insurance is very strong financially. The high financial strength means they’re most likely to pay out your claims, even far into the future.

The great financial strength of TIAA is not only backed up by their wide variety of products and features, but also by rave reviews from life insurance experts.

To back this up even further, TIAA continually receives stellar reviews from current policyholders and the beneficiaries of past policyholders.

What TIAA Life Insurance Company Is All About

As we mentioned above, TIAA Life Insurance is all about their commitment to their customers.

The company grew from humble beginnings in 1918 into one of the nation’s leading providers of retirement plans for academics, researchers, medical professionals, and others in similar fields.

Today, TIAA is perhaps best known for their life insurance plans. Not only do they offer affordable rates on a wide range of policies, but they also extend coverage to most applicants.

There are currently four primary types of coverage available. These can be modified to your personal needs and preferences thanks to a variety of additional features.

The four policies offered by TIAA Life Insurance include:

  • Term Life – Guaranteed level plans available for 10, 15, 20, or 30 years. Policies are renewable and can even be converted to permanent plans.
  • Universal Life – Lifetime coverage with flexible premiums, cash accrual, and tax benefits.
  • Survivorship Universal Life – Permanent lifetime coverage for not only one person, but two people. Great option for couples with dependent children.
  • Variable Universal Life – Lifetime coverage (similar to universal life) with the option to invest in variable sub-accounts.

One of the best additional features offered by TIAA is their life insurance riders. We discuss these in greater detail below.

What Makes TIAA Life Insurance Unique

Chief among the numerous characteristics that make TIAA Life Insurance unique is their financial security, variety of plan types, and excellent customer service.

Let’s start with the variety of plan types available.

Some life insurance providers only offer one or two basic plans while TIAA offers four types.

Better yet, all of these plans can be further tailored to your needs and preferences thanks to a number of additional features, most notably their life insurance riders.

But, that’s not all TIAA offers in the way of coverage.

In addition to their life insurance policies, they still offer some of the best retirement plans available for academics and researchers.

The financial security of TIAA is another feather in their cap.

Though all of the best life insurance companies have strong financial ratings, overall, TIAA takes things up another notch.

Simply put, you’d be hard-pressed to find a life insurance company with as strong of financial strength ratings as TIAA, especially when looking at their long-term financial strength.

Finally, you can’t talk about TIAA Life Insurance’s unique characteristics without mentioning their excellent customer service.

In today’s day and age, too many providers overlook customer service. Yet it’s such an essential piece of the puzzle.

TIAA puts the necessary emphasis on this building block – and it shows.

Easy-to-reach customer support professionals and extensive online educational resources are a large reason why TIAA’s policyholders are as happy as they continue to be.

The Application Process

A simplified application is a hallmark of applying for life insurance from TIAA.

The company strives to make every step of the application process as straightforward as possible for potential policyholders.

Expect the application to take between 15 and 30 minutes to complete. It will require all of the usual information including details about your lifestyle, overall health, and family medical history.

TIAA underwriters look at this information to assess your overall risk as a client. They then use their risk assessment to assign you a rating class.

The rating class dictates how much you’ll pay in terms of premiums every month.

Though most people will qualify for coverage, some people will be deemed too much of a risk.

Expect the application process to take between 4 and 6 weeks before you hear a response back from TIAA Life Insurance.

Additional Features

TIAA does additional features right. Their most beneficial are their life insurance riders.

These life insurance riders enable you to tailor your life insurance plan. For instance, you can add:

What We Like About TIAA Life Insurance

There’s a lot to love about TIAA Life insurance. Take a look at the top benefits to decide if they’re the right option for you.

These top benefits include:

  • Strong financial rating
  • Long history in the industry
  • Variety of policy types
  • Lots of additional features
  • Excellent customer service

Remember not to take each benefit alone. The true benefits of TIAA are unlocked when all of the benefits are added together.

What We Don’t Like About TIAA Life Insurance

There’s not much to dislike about TAA Life Insurance. In fact, there’s little if anything to dislike about the company.

That’s why we recommend that everyone at least look into them. They provide so many options for coverage that almost anybody is sure to find a plan that suits them.

With that said, TIAA hasn’t quite caught up with the times with simplified underwriting, and this is becoming more and more of an issue for consumers who want convenience over everything else.

Who is TIAA Life Insurance Best for?

Thanks to their stellar reputation and excellent line of products, TIAA is worth a look from anyone considering life insurance.

It’s a solid option for everyone, but especially those that put a high value on customer service and support.

You can count on the customer service team at TIAA to quickly and efficiently answer all your questions.

TIAA Life Insurance Customer Service

In addition to quick and efficient answers, the customer support team at TIAA is known for their friendly and professional attitudes.

Calling into TIAA with a question about your life insurance policy isn’t a chore like it is with other life insurance providers. The team makes the experience just about as pleasant as possible.

TIAA is also notable for its intuitive website that’s filled with educational resources – you might not even have to call in with your question. You’ll probably find the answer right there on their website.

The Verdict

It’s impossible to deny that the Teachers Insurance and Annuity Association of America is a great choice for life insurance.

TIAA continually ranks as one of the best providers in the business.

It’s an especially good choice for those in an academic or research field that also want top-notch retirement solutions from the same company.

We encourage everyone to look into TIAA Life Insurance for their life insurance needs.

TIAA Life Insurance Review

Website
tiaa.org
Phone
(800) 842-2252
Address
730 3rd Ave
New York, NY 10017

Company Name (and subsidiaries)

  • Teachers Insurance and Annuity Association of America
  • TIAA-CREF Individual & Institutional Services, LLC
  • Teachers Personal Investors Services, Inc.
  • Nuveen Securities, LLC

Author:

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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.