Royal Neighbors Burial Insurance is a great way to make sure that our final costs are taken care of without stress.
When a loved one dies, many families are hit with unexpected financial burdens. This is why burial insurance is an important part of financial planning.
This article’s goal is to help you understand what Royal Neighbors Burial Insurance has to offer so that you can make an intelligent choice about your future.
I’ve been researching different life insurance companies lately, trying to find the best option for my family. One company that caught my eye is Royal Neighbors of America. They seem to have competitive rates and good financial ratings, but I wanted to dig deeper into royal neighbors life insurance reviews to get the full picture.
After spending hours reading customer feedback, here’s what I learned about Royal Neighbors of America
A Brief Background
First, a quick background on Royal Neighbors They are one of the oldest life insurance companies in the US., founded in 1895. They offer a variety of life insurance products including whole life, term life, annuities, and more. Royal Neighbors is based in Illinois and has an A rating from the Better Business Bureau.
Pros of Royal Neighbors
Digging into reviews, there were definitely some positives about Royal Neighbors:
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Strong Financial Ratings – Royal Neighbors has high marks from independent rating agencies for financial strength. This gives confidence they will be around to pay future claims.
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Good Prices – Many reviewers said Royal Neighbors offered competitive pricing especially for term life insurance. Rates were affordable compared to other big name insurers.
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Helpful Agents – Multiple people said the Royal Neighbors agents they worked with were knowledgeable and took time to explain the policies. Customer service reviews were positive overall.
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Fast Application Process – Applying for coverage was quick and streamlined, according to several customers. Some even got same-day approval.
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Policy Features – Reviewers liked the range of riders and features available to customize your policy. Royal Neighbors offers options like waiver of premium, accidental death benefit, and more.
Potential Cons to Consider
However, Royal Neighbors reviews weren’t all glowing. Here are some of the downsides mentioned:
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Pushy Sales Tactics – Some people felt pressured by agents to upgrade policies or buy additional products like annuities that they didn’t need.
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Rate Increases – While initial rates were affordable, a few long-time customers complained about steep rate hikes at renewal time. This caused policies to get very expensive.
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Claims Hassles – A minority of reviewers had trouble getting claims approved. The process was slow and required lots of paperwork.
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Lack of Online Support – Royal Neighbors seems to rely mainly on in-person agent meetings. Some customers wished there were more digital tools and self-service options.
Key Factors to Weigh
Based on the reviews, here are a few considerations if you’re thinking about Royal Neighbors life insurance:
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Term vs Whole Life – Term policies got better reviews for value, while some whole life buyers felt misled about cash value growth. Get clear on which type you need.
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Agent Rapport – Having an agent you trust who can explain the policy details is key. But don’t feel pressured into overbuying.
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Price Changes Down the Road – Locking in an initially low rate may not guard against future increases. Factor in potential changes.
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Health History – Pre-existing conditions or lifestyle factors may impact rates and eligibility. Be upfront about your health status.
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Financial Health – Check Royal Neighbors’ financial ratings periodically. Make sure they remain stable.
Is Royal Neighbors the Right Choice?
Overall, Royal Neighbors seems like a reputable company with competitive life insurance options. However, I’d advise carefully vetting any agent you work with and reading the policy fine print before purchasing. Get quotes from multiple insurers and compare pricing.
For me, I’m going to dig a bit deeper before making a decision. But the largely positive royal neighbors life insurance reviews suggest they are worth considering if you need a new policy. With some due diligence, they may be a good fit to help protect your family.
Pros and Cons of Burial Insurance with Royal Neighbors
It’s important to think about the pros and cons of each policy when picking final expense life insurance.
PinnacleQuote sells a well-known final expense insurance plan from Royal Neighbors of America that has features that meet a lot of different needs.
Simplified Issue Whole Life (SIWL):
This cost-effective option provides immediate coverage without a waiting period. Eligibility requires a “no” to all health-related questions on the application.
Priced approximately 30-50% higher than the SIWL, this plan incorporates a partial waiting period. If the policyholder passes away within the first year, beneficiaries receive 30% of the death benefit. During the second year, they receive 70%. After two years, the full benefit is payable. This plan is an alternative if there are any health issues as outlined in the application questions.
Royal Neighbors entrusts licensed agencies to offer their insurance policies.
PinnacleQuote is proud to work with such a trustworthy company that offers these important services with openness and the best customer service possible.
With PinnacleQuote, you can expect personalized service that prioritizes your needs and those of your loved ones. Life Insurance Coverage Details.
Royal Neighbors of America NEW Final Expense Product – Worth It?
FAQ
Is Royal Neighbors of America a good insurance company?
What rating is Royal Neighbours life insurance?
What are the benefits of the Royal Neighbors?
How long have Royal Neighbors been in business?
How much does Royal Neighbors life insurance cost?
Royal Neighbors of America is a nonprofit life insurance company with an “A-” A.M. Best rating and “A+” rating under the Better Business Bureau. Although Royal Neighbors life insurance quotes are private, the Royal Neighbors says life insurance policies are about $25 per month. However, Royal Neighbors life insurance rates vary for each woman.
Is Royal Neighbors a women-led life insurance company?
Royal Neighbors was founded by nine women – before the time that women could vote, or even own property in many of the U.S. states. This company is today still one of the largest women-led life insurance carriers in the United States. Royal Neighbors has a unique mission of ensuring lives, supporting women, and serving communities.
Can men get life insurance through Royal Neighbors of America?
Though they focus on empowering women in communities, men can also get life insurance through Royal Neighbors of America. We are proud to partner with an organization like Royal Neighbors of America to offer its simplified issue whole life final expense policy.