Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Amalgamated Life vs Centurion Life Insurance

When searching for an insurance company, you must consider all aspects of the company. The best way to do so is to perform a comparison of the benefits each insurance company has to offer. The better suited insurance will become apparent depending on your individual or family needs.

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Below is a comparison of Amalgamated Life and Centurion Life Insurance Company. While both offer similar basic insurance coverage and policies, there are several significant differences.

Amalgamated Life

Amalgamated Life is knows as “America’s Labor Insurance Company®,” offering insurance coverage and a variety of benefit programs for working individuals. They see the need for benefit programs in unions, trust funds and other groups, helping their clients get top-notch insurance coverage created to balanced cost while maximizing member satisfaction.

Amalgamated Life maintains deep roots within the labor community, so they understand the needs, concerns and priorities of today’s union leaders and members as well as fund administrators.

They offer a wide variety of customer service and support services in addition to group and individual life insurance:

  • Health and pension insurance
  • Coverage for disability
  • Medical stop-loss
  • Medical management
  • Health and pension administration
  • Benefits communications programs
  • Printing and fulfillment services
  • Mainframe computer services and support

Amalgamated is known for specializing in unions, yet they actually have a diverse roster of clientele.

Their clients list includes union leaders and members, fund administrators, brokers, consultants and non-union members.

Amalgamated Life vs Centurion Life Insurance Company

When individuals pick Amalgamated Life, they benefit from a company that understands why people require a high-quality benefits package. Amalgamated Life helps insured members to review benefits needs and develop the right plan to suit your work environment.

They claim to deliver an excellent benefits program to your workplace and to offer experience rated contracts for age groups, to create a satisfactory benefits program that offers security and delivers excellent customer service. Finally, they strive to offer a diverse customer service team with representatives that speak many languages and can resolve issues promptly.

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Life Policies from Amalgamated

Life insurance is necessary to protect the security and financial stability of working women, men and their dependants. It is a benefit that can offer a family peace of mind and financial security.

Amalgamated Life’s primary group term life policy covers all eligible, actively at work beneficiaries. Their group term life program has the following benefits:

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Additional Coverage

Any of the following extra, optional coverages can be added to the basic group life insurance plan for an additional cost to the premium, making a benefits insurance programs even more desirable to members:

  • Amalgamated Life vs Centurion for Your Dependents

    Dependent Life: Members can buy added term life coverage for their family members. The member’s spouse is covered for an amount equal to half of the member’s coverage up to a limit of $100,000. Each child of an insured member’s is eligible to be covered for up to $4,000.

  • Retiree Life Coverage: Employers can opt to offer extra insurance to retired individuals in the amount of 10% of the active group population in accordance with the insured group’s retiree benefit package. Normally, coverage is reserved for the retiree and does not cover spouse or offspring.
  • Supplemental Life: Used together with group term life, supplemental coverage aids in increasing financial stability and security and is accessible to members and their families on a contributory basis.
  • Accidental Death and Dismemberment (AD&D): In the event of an severe accidental injury, paralysis or accidental death that happens while on or off the job, this particular coverage helps in providing extra monetary help for the insured and their families by paying up to the amount in force on the insured’s basic life coverage. This specific coverage is available with group term life policies only.
  • Medical Stop Loss: Fixed stop-loss, which reduces the level of risk from high cost to low cost with individual insurance claims offers several benefits. There is a flexible claims basis available with a limit of liability up to $5 million. Participants also receive specific extension, an aggregating deductible, terminal liability option and aggregate stop-loss.
  • Disability: Both short term and long term disability benefits are offered.
  • Voluntary Insurance: There is a variety of choice to select from. The policies are named: Workers Life Plus, Workers Life Level, Critical Illness Protection, Employee Life Option (ELO), Accidental Death Benefit (ADB) and Children’s Term Benefit (CTB).

Centurion Life Insurance Company

Centurion Life Insurance Company (CLI) was established in 1956 and offers a variety of life insurance products. All life insurance policies offered by the

Amalgamate Life vs Centurion Life Policies

company have similar exclusions that apply to the insured parties.

CLI’s select distribution, financial stability and strength and the company’s flexibility make it stand apart in the insurance market. CLI consistently builds toward the future by continually expanding their product distribution and marketing outlets.

In addition, CLI assumes reinsurance of disability and credit life insurance policies and products. CLI is incorporated with Centurion Casualty Company, which essentially writes and assumes reinsurance of credit disability, unintentional unemployment and certain properties insurance coverage.

The basic types of life insurance offered by Centurion include:

  • Term Life Insurance: This coverage is the most affordable plan offered by CLI. No additional benefits, not counting basic coverage, are offered. The amount of coverage selected when the policy is started is the benefit. Available terms from Centurion Life are either 10 year or 20 year periods of insurance coverage. The monthly premium is based on the fixed term and the amount of coverage selected.
  • Whole Life Insurance: This type of coverage is always more expensive than term life insurance. It does, however, provide protection for the life of the insured and beneficiaries. As long as monthly premiums are paid, beneficiaries will be awarded the policy payout. This type of insurance policy can be canceled at any time without fear of penalty.
  • Variable Life Insurance: This insurance coverage is almost identical to whole life, with a few exceptions. Variable life policies give the insured a little more flexibility with the cash value of the policy. The insured is allowed to borrow against this type of policy if they feel the need to do so.

Amalgamated Life vs Centurion Life Variable Policies

  • Universal Life Insurance: Universal coverage has more flexibility than whole life insurance coverage. While the monthly premiums are generally higher for this coverage, the insured has the choice of adding to the cash value of the policy or borrowing against it, and the cash value of the policy earns market rates. This adds up to a lower risk and a greater likelihood for return.

According to customer ratings and evaluations, Centurion seems to provide good customer service in most areas, although some customers have reported issues with a delay in payment on insurance benefits.

However, this does not appear to be a company-wide issue. Customers also said that most CLI agents are reasonably accessible to insurance policy holders.

If you are doing comparison shopping online for an insurance company, be sure to examine all features the company has to offer and then compare the benefits each insurance company against each other.

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