Erie Insurance Life Insurance Review
Erie Insurance Life Insurance is an insurance carrier based in Erie, PA. The company was founded in 1925 and offers life insurance in 12 states (and Washington, DC).
Erie Insurance Life Insurance FAQ
What types of life insurance coverage does Erie Insurance Life Insurance offer?
Insurance carries typically offer a wide variety of policies. One of the best ways to save money on life insurance is to avoid unnecessary coverage. Only purchase policies and riders you actually need.
Here is at brief description of the coverage Erie Insurance Life Insurance offers.
- Term Life Insurance - This is the simplest type of life insurance. It is payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years.
Erie Insurance Life Insurance offers term lengths ranging from 5 to 30 years.
- Level Term Insurance - These are term policies that have the same fixed premium and payment amount throughout the life of the policy.
- Whole Life Insurance - Whole life insurance policies remain in force for the entire life of the policyholder provided premiums are paid.
- Universal Life Insurance - This type of policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.
As well as the basic coverage types mentioned above, Erie Insurance Life Insurance also offers the following policies:
- Group Life Insurance - Erie Insurance Life Insurance offers some of its policies as a group benefit to employees who meet certain eligibility requirements, such as having worked for a month in the company. Typically, these policies can only be adjusted or purchased after a qualifying life event, such as marriage or the birth of a child, or during an open enrollment period.
What is the financial strength rating of Erie Insurance Life Insurance?
The financial strength rating of a life insurance company scores its ability to pay contracts and policies.
SuperMoney gives Erie Insurance Life Insurance
an A+, which is the highest available rating we give.
SuperMoney's financial strength rating is primarily based on the average score from insurance rating agencies.
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