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 vs. Oxford Life

Life insurance companies offer more than just life insurance, providing insurance packages for a variety of circumstances, life stages and needs. Both Amalgamated Life Insurance and the Oxford Life Insurance Company cover life insurance, but their services target significantly different markets of the insurance providers industry.

Founded in 1943 to provide life insurance and disability coverage to members of the Amalgamated Clothing Workers of America, Amalgamated Life Insurance has worked with labor unions to protect workers in other industries as well. Now. Amalgamated calls itself “America’s Labor Insurance Company,” dedicated to providing life and disability insurance to working people throughout the United States through its employer-provided coverage plans.

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Amalgamated Life Insurance

Amalgamated offers basic group term life insurance, which covers all eligible members who are actively working. This coverage offers flexibility in setting benefit amounts and can convert to an individual permanent policy as well. In addition to this core plan, members can choose additional options which include:

  • Dependent Life Insurance, which covers both spouse and children. Children can be covered for as much as $4,000 each, and a spouse can obtain coverage of 50% of the member’s policy, up to $100,000.
  • Retiree Life Coverage, a benefit of 10% of the active group plan, is offered to retirees previously enrolled in the group plan. This coverage does not include spouses or children.
  • Supplemental Life Insurance can be used in conjunction with the basic group plan, and is offered to members and dependents on a contributory basis.

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Amalgamated Accidental Death and Dismemberment Coverage

In some states, Amalgamated’s group term life policies also offer accidental death and dismemberment coverage in addition to life insurance options. This option covers injuries that occur both on and off the job, and offers benefits up to the maximum amount in force on the member’s basic life insurance coverage for:

  • Accidental severe injury
  • Paralysis
  • Accidental death

Amalgamated Medical Stop-Loss Insurance

Although not available in all states, Amalgamated also functions as a direct writer of medical stop-loss policies and offers other medical management services. In this capacity, Amalgamated offers both specific and aggregate stop-loss services:

  • Specific stop-loss services reduce levels of risk from high cost, individual claims through flexible claims, limits of liability and aggregating deductibles. Amalgamated also offers terminal liability options to reduce risk.
  • Aggregate stop-loss offers protection from risk in the event of a high volume of claims. These services include limits of liability, aggregate extension and a quick turnaround on claims.

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Amalgamated’s Disability Insurance

Amalgamated offers both short and long-term disability insurance for non-worksite related accidents and illnesses, as well as pregnancy. The availability and structure of these benefits may vary by state.

  • Short-term disability benefits can vary according to the type of disability, and its duration. These benefits are available in both contributory and non-contributory form.
  • Long-term disability covers a lengthy illness or recovery from injury, and, like short-term disability benefits, these benefits can be tailored to individual needs, and can be either contributory or non-contributory.

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Amalgamated’s Voluntary Insurance Products

In addition to its group term life insurance policies, Amalgamated offers a variety of voluntary insurance products which provide additional benefits to members, their spouses and not only their children, but also their grandchildren. These affordable products include:

  • Workers Life Plus, a decreasing term insurance whose premiums decrease with age.
  • Workers Life Level, a level term insurance product which offers protection while employed. Unlike Workers Life Plus, premiums on this policy increase with age. Options also include coverage for dependents and a critical illness benefit.
  • Critical Illness Benefits, an option which provides a lump sum payment in the event of a diagnosis of cancer, heart attack, coma, stroke, paralysis or kidney failure. The policy also covers organ transplants, or 30 consecutive days of hospitalization. Two years after the member returns to full time employment, the life benefit is reinstated.
  • Employee Life Option, an interest-sensitive life insurance plan which allows for cash value accumulation. This plan provides current interest rates based on the value of the policy and includes an accidental death benefit and a children’s term benefit.

Amalgamated also administers a variety of retirement and pension plans, including services such as change of beneficiary forms, pension verification and the mailing of checks.

Just as Amalgamated Life Insurance plans are aimed at serving the workplace, Oxford Life Insurance Company, also known as Oxford Life, specializes in senior-focused insurance needs. Oxford Life embraces a number of life insurance subsidiaries such as Christian Fidelity. Dallas General and North American Insurance, which offer specialized services such as Medicare supplement and long-term care policies. Oxford Life’s retirement focused insurance products include:

Oxford Life Insurance Products

Oxford Life offers two specialized life insurance products, aimed at promoting peace of mind for individuals and their families in later years:

  •  Final Expense Whole Life Insurance, available to individuals between the ages of 50 and 85, offers coverage up to $30,000 and death benefits paid free of federal income tax. This policy locks in rates for the duration of the policy and develops cash value over time. Rates are based on the policyholder’s age at time of purchase.
  •  To protect assets from tax and probate issues, the Advance Wealth Transfer and Efficient Wealth Transfer Single Premium Policies assist in the transfer of assets to heirs after a policyholder’s death. Offering a guaranteed death benefit and a guaranteed cash value with annual increases, these policies may also include accelerated benefit options for chronic or terminal illness and nursing home care. Advance Wealth Transfer is available to purchasers between 50 and 85, while the Efficient Wealth Transfer option can be purchased by those between 60 and 80.

Oxford Life Deferred Annuity Products

In addition to its life insurance policies, Oxford Life also offers annuity options for protecting assets after retirement. These annuities offer competitive interest rates and benefits providing income for life.

  •  The Oxford Life Income Protector is a single premium annuity that offers a locked-in interest rate for the first five contract years.
  • The Oxford Life Bonus Ten plan offers a 10% premium bonus. The plan also allows purchasers to participate in the stock market without penalty.

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Oxford Medicare Supplemental Insurance

Oxford and its subsidiaries also offer a variety of Medicare Supplement plans aimed at filling the gaps in Medicare coverage, including skilled nursing, extended hospital care and physical and speech therapy.

Although Amalgamated Life Insurance and Oxford Life Insurance serve different populations, they both offer a variety of policies and options based on their core product: life insurance.

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