New Era Life Insurance Review & Ratings (2024)

While New Era doesn’t sound as attractive as many other life insurance companies, it’s still worth looking into. After all, final expense coverage is usually cheaper than other life insurance products. If your beneficiaries only need a little extra cash, New Era might be right for you.

While you’ll need to speak to an agent to find New Era life insurance quotes, you can compare other companies online. Enter your ZIP code into our free tool today to see what quotes might look like for you

What You Should Know About New Era Life Insurance

Welcome to our comprehensive guide on NLI (Nippon Life) Insurance. In this article, we will explore the key aspects of NLI Insurance, including its coverage options, financial stability, and customer ratings. Whether you’re looking for life insurance, health insurance, or annuities, we’ve got you covered.

We’ll also emphasize the importance of comparing rates from top insurance providers to ensure you secure the best coverage for your needs.

• New Era only offers one type of life insurance: final expense
• You can purchase other insurance products from New Era, such as dental, Medicare supplement plans, and accident insurance
• The company offers minimal information about its final expense plan online — you’ll need to speak with an agent to get a quote

To find the most competitive rates in your area, simply enter your zip code and compare quotes from the best insurance providers. Don’t miss this opportunity to protect your future with NLI Insurance.

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What is New Era life insurance?

New Era is not your typical life insurance company. While most life insurance companies offer term, whole, or universal policies with a wide selection of add-ons, New Era has just one product: final expense coverage.

Final expense coverage is also called simplified issue whole life, burial insurance, and funeral insurance. As its name suggests, this insurance is meant to help your family cover your end-of-life expenses, including your funeral and leftover medical bills.

This is an excellent option for older people without a life insurance policy. Final expense policies are cheaper because they have smaller death benefits, and they generally don’t require a medical exam.

Final expense coverage is a type of whole life insurance in that it remains in place for the rest of your life, as long as you make your payments. But there are a few notable differences between traditional whole life and final expense.

For starters, final expense coverage typically has a much small death benefit for your beneficiary. You can buy a policy from $2,000 to $25,000 with New Era. Typical death benefits for whole life range from $100,000 up into the millions.

New Era’s final expense policy has monthly rates that stay the same throughout your life, no matter your health status or age.

New Era Life Insurance Coverage Options

New Era offers several other types of insurance, though none are related to life insurance. This company provides the following types of coverage:

• 24-hour accident — If you purchase this policy, New Era will cover up to $4,000 per accident that injures you and up to $300 per day you spend in the hospital.
• Critical illness — New Era covers medical bills and lost wages while you recover from a critical illness. Coverage is available up to $50,000.
• Dental — New Era has over 169,000 network providers, but will pay the same amount for dental work with non-network dentists.
• GAP — With health care costs rising, GAP insurance can help lower the amount you pay out of pocket after your traditional health insurance has maxed out.
• Medicare supplemental — Medicare only pays for what is medically necessary and has limits on how much it can cover. With a Medicare supplemental policy, more of your health care is covered.

As you can see, New Era offers a wide variety of policies to cover specific needs rather than standard insurance policies.

New Era Life Insurance Rates Breakdown

Most companies offer at least a little information about the buying process for insurance, but New Era is notoriously tight-lipped.

There is no information online about how much the company’s products cost, which states it serves, or even how to contact an agent. If you want New Era insurance, you’ll need to call the company and request contact with a local agent.

You also can’t apply for a policy online. All communication must happen over the phone with an agent.

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New Era Life Insurance Discounts Available

Discover potential discounts that may impact the cost of your coverage with New Era Life Insurance:

• Multi-Policy Discount: Bundle multiple insurance policies with New Era to qualify for a discount, potentially reducing overall premiums.
• Good Health Discounts: New Era may offer discounts for policyholders who maintain good health. This can be reflected in lower premiums for individuals with minimal health risks.
• Non-Smoker Discounts: If you’re a non-smoker, New Era Life Insurance might provide discounts on your premiums as compared to policyholders who smoke.
• Loyalty Discounts: Policyholders who maintain their coverage with New Era over an extended period may be eligible for loyalty discounts as a token of appreciation.
• Payment Method Discounts: Opting for certain payment methods, such as automatic bank withdrawals, may qualify you for additional savings on your premiums.
• Safe Lifestyle Discounts: Demonstrating a commitment to a safe lifestyle, such as participating in wellness programs or maintaining a healthy lifestyle, may make you eligible for discounts.
• Military or Employee Discounts: New Era may offer special discounts to military personnel or employees of certain organizations.
• Annual Payment Discounts: Choosing to pay your premiums annually instead of monthly may result in additional cost savings.

Please note that the availability and specifics of these discounts can vary, and it’s recommended to discuss your eligibility with a New Era Life Insurance representative for accurate and personalized information.

Claiming Your Coverage: An In-Depth Overview of New Era Life Insurance’s Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

When it comes to the claims process with New Era Life Insurance, it’s important to note that the company primarily relies on traditional communication methods. There is limited information available online regarding the purchase of policies, and customers interested in New Era insurance are required to call the company to connect with a local agent.

Unfortunately, there is no option to apply for a policy online, and all communication regarding claims must take place over the phone with an agent.

Average Claim Processing Time

The processing time for claims with New Era Life Insurance can vary depending on the circumstances of the claim and its complexity. However, the company aims to handle claims efficiently, and most claims are typically processed and paid out within a few weeks of being filed. This relatively quick turnaround time ensures that beneficiaries receive the financial support they need during challenging times.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback regarding New Era Life Insurance’s claim resolutions and payouts is essential to assessing the company’s performance in this area. Unfortunately, specific feedback and ratings from customers on claim experiences are not readily available in the provided information.

It’s advisable for potential policyholders to seek out independent customer reviews and ratings to gain insights into the company’s track record when it comes to claim resolutions and payouts.

Innovation in Action: Unveiling New Era Life Insurance’s Digital and Technological Features

Mobile App Features and Functionality

New Era Life Insurance’s approach to digital and technological features appears to be somewhat limited. While the company does offer a mobile app, the provided information does not detail the specific features and functionality of the app. Customers interested in the convenience of mobile app access should explore the app’s capabilities further by downloading it and exploring its offerings.

Online Account Management Capabilities

New Era Life Insurance does provide an online portal for policyholders, which can be a useful tool for managing policies and verifying policy benefits. However, the extent of online account management capabilities is not explicitly outlined in the information provided. Policyholders are encouraged to log in to the online portal to explore the features available for convenient account management.

Digital Tools and Resources

The information regarding New Era Life Insurance’s digital tools and resources is limited. While policyholders can access their policies through the online portal, the details of additional digital tools and resources, such as educational materials or interactive calculators, are not specified.

To fully understand the digital offerings provided by the company, policyholders should explore the online resources available on the New Era Life Insurance website.

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How New Era Life Insurance Ranks Among Providers

In the competitive landscape of the life insurance industry, New Era Life Insurance faces competition from several well-established companies, each offering a range of products and services to meet the diverse needs of policyholders. Let’s delve into a brief exploration of New Era’s key competitors.

AIG (American International Group):

• AIG is a global insurance giant with a reputation for offering diverse life insurance products, including final expense coverage.
• Known for its extensive financial services and a strong global presence.
• Provides a comprehensive suite of insurance and investment solutions.

Lincoln Financial Group:

• Lincoln Financial is recognized for its broad range of life insurance options, encompassing final expense solutions.
• A well-established company with a robust financial standing.
• Offers various financial and retirement planning services alongside insurance products.

Transamerica:

• Transamerica is a prominent player in the life insurance market, offering a variety of products, including final expense coverage.
• Known for its financial strength and stability.
• Provides a diverse range of investment and retirement solutions.

Mutual of Omaha:

• Mutual of Omaha stands as a stalwart in the insurance industry, providing various life insurance products, including final expense insurance.
• An established company with a lengthy history and reputation for reliability.
• Offers additional financial and retirement planning services.

In the dynamic world of life insurance, New Era faces stiff competition from industry stalwarts such as AIG, Lincoln Financial Group, Transamerica, and Mutual of Omaha, among others. Each competitor brings its strengths and offerings to the table, emphasizing the importance for consumers to carefully compare features, financial stability, and customer feedback when selecting a life insurance provider.

As policyholders navigate through their options, a comprehensive assessment of these competitors will contribute to making informed decisions that align with individual insurance needs and preferences.

New Era Life Insurance Reviews

While you might expect a small company that only offers a few products to be excellent providers of those services, New Era receives more complaints than the national average.

For starters, New Era has a rating of B++ with A.M. Best. A B++ is considered good, but it’s well below the ratings of the leading companies for life insurance products. New Era does not have a rating from the Better Business Bureau or J.D. Power.

A major downside for New Era is that the National Association of Insurance Commissioners (NAIC) has given the company a less than favorable score.

The Company Complaint Index by the NAIC scores companies based on policy prices and cancellation problems, customer service and agent interactions, and settlement satisfaction, amongst other factors.

New Era has a score of 1.34, which is higher than the average national score of an even 1.0.

As far as the integration of modern technology into the insurance process, New Era is a little behind. You can access your policy with a New Era life login, but you have few options online.

You’ll need to use the New Era life insurance provider phone number if you have any questions or concerns.

However, you can access the New Era life insurance provider portal online. The portal is a helpful tool for verifying a policy benefit.

Is New Era life insurance worth it?

As with all types of insurance, New Era’s final expense policy might be worthwhile to you, depending on your circumstances. However, a term or whole life policy might better suit your needs.

To get an idea of what type of insurance might work for you, consider the following.

For the most part, your money is better spent with a term or whole life policy.

If final expense insurance is your best path for life insurance, you should consider the company. New Era is a small company with less financial security than others. It has a higher complaint index than other companies, and some customer reviews say the payout process can be slow.

Other companies that sell final expense life insurance include AIG, Lincoln, Transamerica, and Mutual of Omaha. While you can find affordable New Era life insurance rates, you might be better served elsewhere.

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