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 General Re Life Insurance Corporation

Choosing the right insurance provider boils down to assessing and meeting particular needs. Once the first step is complete, all that’s left is to compare and contrast until the best option reveals itself. Unfortunately, there are so many insurance companies that this task is far more daunting than it first appears.

With the FREE quote chaser and your local ZIP you can assess the policies and companies available today!

General Re Life Insurance and Amalgamated Life offer very different types of service. The text that follows will examine two very different services that can work in conjunction but that may work best in different combinations.

If you are an individual seeking coverage it will become very clear that only one of these companies can meet your needs. One is a reinsurance company which is explained in this related article from Captive.com.

The General Re Life Insurance Company

This company offers a unique form of insurance called reinsurance, which it sells to other providers. They assess and minimize risk with the intended result of raising profits and lowering costs. At the time of this writing, they operate in the US, Australia, China, France, Germany, and the UK. They offer six kinds of insurance:

Amalgamated Life vs General Re Life Insurance Company

Group Life and AD&D: This reinsurance policy is intended to provide basic, supplementary/optional, and voluntary risk capacity. Services include experience reviews, consultation and advice, prospect analysis, renewal evaluation, and education and training. They help determine who is eligible for these benefits, what the premiums should be, and provide complex claim assistance.

Group LTD: The company helps process both short and long-term disability claims, and it aids in the development of risk transfer programs that are tailored specifically to their clientele’s needs. They provide claim audits, claim operational reviews, claim training, and a number of other services.

Critical Illness: This is intended to help a company develop services designed to protect an employee or individual diagnosed with something relating to a pre-defined illness or event. Some of the covered conditions are coronary artery bypass surgery, stroke, cancer, and major organ transplant.

Critical Illness protection can provide funds for income replacement, payment of existing debts, out of pocket expenses, ongoing financial needs, as well as other expenses which may arise. It can be made a stand-alone product or it can be attached to existing services.

Medicare Supplement: General Re offers this on a coinsurance basis. As of April 2012, this package includes underwriting, pricing, and claims assessment for client companies.

Individual Life: This helps clients assess the mortality rate of their policyholders. They scenario test various factors like heart condition and age, and they specialize in the latter. The company has developed its own underwriting procedure to best meet the unique challenges of the elderly market.

Individual Disability: These services are intended to offer coverage for renewable and non-cancelable products, as well as help with the design of new products as their clients’ needs change. Services include product pricing and support, training for new hires, and the development of risk-management tools.

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Amalgamated Life Insurance Company

This company offers traditional policies geared toward the leaders and members of labor unions. Their aim is to balance cost with quality so that each individual has access to affordable care regardless of what they need.

Founded in 1943, Amalgamated is an American grown company that remains within US borders.

Services include:

Life Insurance: Their basic group life policy covers all eligible, active workers. It offers flexibility in the choice of benefits, conversion to an individual policy without medical underwriting, experience-rated contracts for different age groups, and the security of a union-label company.

AD&D: This is a financial safety net for employees who are severely injured or killed while on the job. It is only available through group benefits.

Amalgamated Life vs General Re Life Insurance

Medical Stop Loss: The company is a direct writer of stop-loss policies, and as such they’re able to provide a quick response to Requests for Proposals. They also provide discounts to high quality PPOs and medical management services, as well as quick disclosure decisions and multi-product discounts.

For individual claims they limit liability up to $5 million dollars; they offer an aggregating deductible, as well as a terminal liability option. For aggregate stop-loss they set corridors at 125%, provide aggregate extension, and limit liability up to $1 million dollars or higher upon approval.

Disability: Group members can receive both long- and short-term disability benefits. Short-term coverage extends to non-worksite events such as accidents, pregnancy, or illness. Both forms of coverage are available as contributory and non-contributory.

Voluntary Coverage: These are additional services which can be added to the core policies listed above; they include extra life insurance coverage, critical illness coverage, and disability coverage.

These voluntary options allow workers to include their families on their policy thus providing survivor benefits, spousal life insurance, and general medical coverage for them and their children.

The Verdict on General Re and Amalgamated

Amalgamated Life vs General Re Life

Business owners aren’t in the position of choosing one or the other. In fact, unless someone is running an insurance company, General Re doesn’t offer anything of interest.

As reinsurers they’re invaluable to other providers and their involvement can lower the price of the end product, but there’s no reason to seek out insurers that work with them because comparing prices yields all the relevant data for businesses and individuals to make their decision.

Amalgamated Life carries a Better Business Bureau rating of B and boasts a low number of complaints for businesses of its size. The sole reason that it doesn’t rank higher is that the BBB lacks the necessary information to qualify it for an A, so in all likeliness a business would be well-served by employing their services. The General Re Life Insurance Company has no BBB rating, and neither company is BBB accredited.

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