Today we’re exploring Vantis Life Insurance Company. Although they aren’t among this year’s top 10 life insurance companies, they are an excellent company with excellent products for nearly every possible situation. In today’s market, consumers need product choice, and Vantis Life delivers.
This is our Vantis Life Insurance Company review and is of our own opinion. We do our best to keep the reviews as independent as possible, and suggest using the quoting tool in the sidebar to compare many more carriers before making a life insurance purchase.
Our Vantis Life Insurance Company Review
For over 70 years now, Vantis Life Insurance Company has continued to meet the needs of families across the nation by providing effective, simple, and affordable life insurance policies.From basic term policies to complex estate plans, Vantis has solutions.
Two main areas Vantis Life Insurance Company thrives are through innovative products designed to match specific needs of individuals, families and businesses, but also through top notch customer care. These two combined are a winning formula, allowing the carrier to grow to almost $5 billion of life insurance death benefit already in force. In addition, more than half a billion dollars are invested through their annuity products.
Vantis Life, who also operates as Vantis Life Insurance Company of New York (NY only), has shown their size and financial status to be excellent, and have received a credit rating score of “A-” from A.M. Best yet again. In addition, they are rated as a “BBB+” from Standard and Poor’s. This has given them a Comdex score of 59.
Regardless of the need, such as paying debts, replacing income, or leaving a properly organized estate, Vantis Life has one of the best selections of policies on the market today. They have many types of products, and even selections of different products within each of those categories.
Term & Univeral
Perhaps their simplest product is their Super EZ Life, which offers up to $300,000 in coverage for up to 20 years, all without a medical exam, for those who qualify. Premiums are level for the entire duration of the policy, and can be issued up to age 60 (max age of 55 for 20 year duration).
For those needing more death benefit or a longer duration, the VantisTerm policy may be the most suitable option.
With choices of 10, 15, 20, 25, or even 30 years, the insured can apply for as much as $5,000,000 of death benefit, and can convert to permanent products as needed without having to re-qualify. Unlike the Super EZ Life, this product does require a medical exam.
Growing in popularity over the past few years, the return of premium marketplace is met with Vantis Life Insurance Company’s VantisTerm ROP.
This level term life product offers coverage for 20, 25, or even 30 years, then the carrier pays you back all your paid premiums if you outlive the duration you chose. They also have a partial surrender benefit, meaning you can receive a portion back early if you decide not to keep the policy to its contract completion date.
To meet the needs of permanent coverage, Vantis Life has three different plans under its Permanent Life Coverage product line: Straight Life, 20-pay, and Paid-Up At 65.
Straight Life is a basic, straight forward whole life product. Applicants up to 70 can be approved, and both premiums and death benefit are guaranteed to be level for the life of the product. As with all other whole life products, there is a separate cash value component which grows tax deferred and can be accessed via loan.
The 20-pay whole life product is nearly identical to the Straight Life choice, however the payments are increased to allow the policy to be completely paid by the 20th policy anniversary. This is great for those who like the permanent coverage without the permanent bill.
Finally, the Paid-Up At 65 choice offers the insured to pay the entire needed premium by age 65, which tends to match retirement years for many individuals. This frees up cash flow for those golden years, and can take as few as 10 years to complete.
If permanent death benefit is your goal, but you need something simpler or smaller in face amount, the Guaranteed Golden is Vantis Life’s final expense product. With maximum death benefits at just $20,000, applicants can secure coverage with no exams, and no questions asked.
The full death benefit payout does not pay until after the first two policy years, except for accidents.
Finally, the EstateWise Single Premium Whole Life is a product made especially for those who choose to leverage funds they have now with a one time payment into a life insurance product for the purpose of passing along tax advantaged cash to their heirs in the simplest way possible.
Vantis Life Insurance Company has one of the better life insurance product lines we’ve come across, and they are secure.
While their prices for term coverage aren’t as extremely affordable as many other carriers who specialize in term, their other choices are fantastic to meet the growing needs of Americans in all walks of life. This means they can meet the more finicky financial concerns better than the most basic.
We believe they have a strong value this year, though we would prefer a company a little more financially sound.
|Company Name (and Subsidiaries)||Vantis Life Insurance Company|
Vantis Life Insurance Company of New York
|Company Ratings||A.M. Best (A-)|
Moody’s Investors Services (N/A)
Standard & Poor’s (BBB+)
|Headquarters (Address, Phone, Web)||200 Day Hill Road|
Windsor, Connecticut 06095
|Policy Types Available||Term|
Return of Premium