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Wilco Life Insurance Company Reviews
Wilco Life Insurance Company was acquired by Wilton Re in 2014. As a result, the company no longer exists as an independent life insurance provider. Based in Indiana, the company was founded in 1986 and was at one time rated A+ by A.M. Best. Throughout its history, the company was also known in the marketplace as Conseco, Philadelphia Life, and Massachusetts General. Wilco Life Insurance Company customers with existing life insurance policies can still get customer service by contacting Wilton Re – we listed their contact info below.
Currently, Wilton Re only offers life insurance solutions to employers through the workplace. So if you’re shopping for a new policy, allow us to direct you to a company that’s a better fit. Our quoter can give you rates and plans from the nation’s top providers – a great place to start your search!
Wilton Re (Wilco Life Insurance Company's parent company)
- 20 Glover Avenue
4th Floor
Norwalk, CT 06850
Advantages of Wilco Life Insurance Company
We can't really talk about the advantages of buying from Wilco, since they no longer exist as a stand-alone company and their parent company does not sell policies to consumers.
Historically, however, the main advantage of Wilco Life was their strong financial stability ratings. Those ratings indicated a high likelihood of being able to meet financial obligations, such as paying a death benefit once an insurance claim is filed.
There are a variety of carriers that we can vouch for, and you can get a free quote now to explore their offerings. You can also read our company reviews to make an informed decision on which carrier and policy is right for you.
Disadvantages of Wilco Life Insurance Company
As with the advantages, it's hard to talk about disadvantages for a company that no longer offers policies. However, prior to its latest acquisition, Wilco Life Insurance Company was facing a class-action lawsuit regarding unauthorized charges to consumers and withholding profits from universal life insurance policies. This is an important consideration, because when it comes to life insurance, you want to trust the company providing you with coverage.
As you shop for life insurance, you want to be able to compare companies and feel confident about the policy you choose. Working with an agent is helpful because they can give expert advice on the underwriting and application process. Plus, they can help you decide how much coverage you need and what policy will best protect you and your family.
We recommend you do a bit of homework when you've narrowed your choices down to 2-3 insurers. Here on our website, we cover the nation's top carriers in our life insurance company reviews, including their financial ratings. Taking a look at these ratings can give you a clearer picture of an insurer's financial strength - a key component in earning your family's trust.
Available Products
Because Wilco Life Insurance Company has been acquired, they no longer have any available products you can purchase. In the past, however, they sold term life, whole life, and universal life policies.
- Term life insurance is a temporary policy that lasts for a specific number of years. Policies usually range from five to 30 years, with some variation from company to company. Many carriers have options in place to renew or convert term policies when they reach their expiration to continue coverage.
- Whole life insurance is a permanent policy that will not expire, unless you fail to pay your premiums. Whole life policies are also known as traditional life insurance. In addition to a death benefit, they include a cash value savings component that accumulates value over time. Once the funds reach a certain amount, they can be accessed like a personal loan.
- Universal life insurance is similar to whole life in that your coverage doesn't expire. However, you have more flexibility with payment amounts and the death benefit amount with a universal policy.
Need help figuring out which type of policy is best for you? Give us a call! Our licensed agents are happy to answer all your questions and give you a free quote over the phone. You can also use our online quoter to get started.
Wilton Re Ratings (current parent company of Wilco Life Insurance Company)
A financial stability rating is an indication of how likely a company is to be able to meet their financial obligations. A review is performed by an independent rating agency based on recent finances and projections for the future. A company is assigned a letter grade based on that agencies’ scale. A letter rating of “A” is the highest, and depending on the agency, may be followed by a plus, minus, or number to indicate how high it is on the “A” scale.
Financial stability ratings are important to consider when shopping for life insurance. A company with a poor rating may not be able to meet their financial obligations to policyholders, like paying a death benefit to a beneficiary. When shopping for a product to protect your future and your loved ones, you want to ensure the company providing your coverage is going to be able to follow through. To learn more about the ratings process and the scale used by each agency, you can read our article explaining life insurance ratings here.
| Agency | Rating | Description |
| A.M. Best | A+ | Superior |
| Standard & Poor´s | N/A | -- |
| Moody´s | N/A | -- |
| Fitch | A | Stable |
Conclusion
Here at LifeQuote, we work with the best of the best to ensure the policy you choose is the best fit for your needs. Life insurance is not one size fits all, so the policy that works for you may not work for someone else. We work with over 40 of the top-rated carriers to help you comparison shop, and our agents are here to help you with the application and underwriting process.
When it comes to protecting your financial future and your family, you deserve to have all the information. To begin comparison shopping from reliable companies that we trust, you can get a free quote now.
