There are a lot of life insurance companies that offer different kinds of term life insurance policies. Life Insurance Company of the Southwest may be one of the less well-known ones.
Most people wouldn’t be opposed to a smaller life insurance company if they offered the cheapest rates. Here, we’ll break down the policy options, ratings, and more about Life Insurance Company of the Southwest.
If you want to read our review of Life Insurance Company of the Southwest, scroll down. You can also use our free quote tool to get rates right away from the best life insurance companies near you.
When looking for life insurance, you’ll likely come across Life of the Southwest. But who are they really? Can you trust them to pay claims if the unthinkable happens?
I recently reviewed Southwest Life to find out. Here’s everything we learned after digging into their financial strength, coverage options, customer service and more
Overview of Southwest Life Insurance
Life of the Southwest also known as LSW primarily sells life insurance and annuities. They’ve been in business since 1955 and are based in Addison, Texas.
Some quick facts
- Specialize in permanent and term life insurance
- Subsidiary of National Life Group
- Licensed in 49 states
- Over $28 billion in assets
- A+ rating from A.M. Best
Southwest Life is best known for their wide selection of term and permanent life insurance policies. These provide guaranteed death benefits to financially protect your family.
By combining financial strength with varied coverage options, LSW aims to serve diverse needs and budgets. But do they deliver? Let’s take a closer look.
Is Southwest Life Financially Stable?
Trusting an insurer to pay future claims requires checking their financial strength. Southwest Life scores very well from independent rating agencies:
- A.M. Best: A+ (Superior)
- Standard & Poor’s: A+ (Strong)
- Moody’s: A1 (Good)
- Comdex Score: 90
Earning A+ ratings from A.M. Best and Standard & Poor’s confirms Southwest Life has an excellent ability to meet claims. High Comdex and Moody’s scores also signal financial stability.
Being a subsidiary of National Life Group (over $2 billion in capital) boosts Southwest Life’s resources. Overall, the ratings agencies strongly vouch for their financial standing.
What Products Does Southwest Life Offer?
Southwest Life provides both renewable term and permanent life insurance policies. Their main options include:
- Term life – 10, 15, 20 or 30 year level premiums, up to $1 million in coverage
- Whole life – Lifetime coverage with cash value savings
- Universal life – Flexible premiums and death benefit
- Indexed universal life – Interest earnings based on stock index performance
- Variable universal life – Invest cash value in investment funds
This selection covers the full range of temporary and lifelong coverage. You can likely find an LSW policy matching your budget and needs.
Businesses can also get group coverage through Southwest Life’s Group Term plans. The company markets individual and group policies.
Beyond just life insurance, LSW sells:
- Annuities for retirement income
- Disability insurance
- Long-term care coverage
- Mutual funds and brokerage accounts
Purchasing multiple policies from Southwest Life could simplify your insurance and investments. Bundles may also qualify for discounts.
Do Customers Recommend Southwest Life Insurance?
The consensus among Southwest Life customers seems to be positive. They hold an impressive A+ rating with the Better Business Bureau with limited complaints.
In 2020, LSW scored 0.20 on the NAIC complaint index. That’s just one-fifth the industry average – lower scores mean fewer issues.
Reviews praise Southwest Life for:
- Helpful agents who take time to explain policies
- Efficient underwriting/approval
- Easy policy updates and payments
- Fast payouts to beneficiaries
Online customer ratings average 4 out of 5 stars. Feedback indicates Southwest Life delivers as promised while maintaining competitive pricing.
Is Southwest Life a Good Choice for Life Insurance?
Given their financial ratings, varied policies, and positive reviews – Southwest Life appears to be a leading choice for life insurance.
Key advantages of LSW include:
- 65+ years in business
- A+ rating for financial strength
- Many permanent and term policy options
- Strong reputation for customer service
- Long history of paying claims
For quality coverage at a competitive cost, Southwest Life is worth considering. Compare their rates and plans to find your best option.
How to Get a Quote From Southwest Life
You can explore Southwest Life’s policies and get quotes in 3 ways:
- Call 1-800-732-8939 to speak with an agent
- Visit their website at www.lswofamerica.com and use the online quoting tool
- Work with an independent broker who can provide quotes from LSW and other top insurers for comparison
Southwest Life makes it quick and easy to get coverage pricing. Most policies can be issued in just a few weeks after applying. Customers consistently praise their efficient and helpful service.
The Bottom Line: Should You Consider Southwest Life?
Given its long track record of paying claims, positive customer feedback, and A+ financial rating – Southwest Life stands out as a recommended insurer for many situations.
If you want reliable protection for your loved ones at a competitive cost, Southwest Life is definitely an option worth exploring. I encourage you to review their products and get a quote to see if they could be a great fit.
Evaluating Life Insurance Companies: Reviews and Ratings
It’s important to read a lot of life insurance ratings and reviews before choosing a company to make sure you pick a good one. Matrix Direct life insurance reviews often talk about happy and unhappy customers, which gives you a good idea of how good their service is.
Another notable provider, Life of the Southwest, offers a range of life insurance products tailored to different needs. Similarly, Minnesota Life Insurance Company reviews provide insight into the company’s reliability and customer service.
People who want to buy life insurance directly can use direct life insurance reviews to find companies with easy-to-use systems and good rates. People who want to buy a policy might also think about Southwest Life Insurance Company. Reviews of this company usually focus on their customer service and products.
Potential buyers can also get an idea of the National Life Group insurance company’s financial stability and overall reputation by looking at its rating. Life insurance of the Southwest reviews give detailed information about their policies and how customers felt about them, which can be very helpful when making a choice.
To get a broader understanding, looking at a National Life Group life insurance review can be beneficial. Reading life insurance policy reviews from various sources helps in comparing different providers.
The National Life Group rating is particularly important for assessing their market standing. Finally, full reviews of life insurance companies and National Life Group reviews can give you a complete picture of how well the company works, how happy its customers are, and how reliable it is overall.
What happened to Southwestern Life Insurance Company?
Southwestern Life Insurance Company was bought out by several other businesses over the years and eventually joined a bigger financial group. The company no longer operates under its original name.
Life Insurance Company of the Southwest – Life Insurance Company of the Southwest Review
FAQ
Is the life insurance company of the Southwest legit?
Who bought the life insurance company of the Southwest?
Is the Life Insurance Company of the Southwest a mutual company?
Is life insurance company of the southwest a good company?
These high ratings indicate reliable financial health. The company has resolved several complaints on the BBB, many of which regard annuity products, not traditional life insurance policies. Overall, Life Insurance Company of the Southwest and National Life Group have strong reputations with rating agencies and consumer watchdog groups.
Is life insurance company of the southwest a parent company?
Because Life Insurance Company of the Southwest is a subsidiary or entity rather than a parent company, you’re unlikely to find many direct ratings or reviews for the company itself. Instead, you may have to rely on National Life Group’s ratings as a representation of Life Insurance Company of the Southwest’s reviews.
Why is life insurance company of the southwest a bad company?
The lower rating is due to the company’s non-competitive pricing. Rates tend to be higher with Life Insurance Company of the Southwest compared to some other, larger providers .All businesses have at least one negative review, and this applies to life insurance companies.
Who is life insurance of the southwest?
Life Insurance of the Southwest is a prominent player in the insurance industry, offering a range of policies to meet the diverse needs of its clientele. As part of the company insurance life southwest sector, it maintains a strong reputation for reliability and financial stability.