Empower Annuity Insurance Company Review (2024)

Empower Annuity Insurance Company emerges as a reliable and comprehensive insurance provider, boasting a diverse array of coverage options, robust financial stability, and positive customer reviews, making it a go-to choice for safeguarding one's financial future.

UPDATED: Apr 12, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Apr 12, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Apr 12, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Apr 12, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Apr 12, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Apr 12, 2024Fact Checked

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Empower Annuity Insurance Company

Average monthly rate for business insurance:

$79

A.M. Best rating:

A+

Complaint level:

Low

Pros

  • Wide range of insurance products to choose from
  • Strong financial stability, ensuring policyholder security
  • Positive customer reviews and testimonials
  • Competitive rates for a 45-year-old male driver with a clean record
  • Exceptional customer service and claims handling

Cons

  • May not be available in all geographic regions
  • Specialty insurance options are somewhat limited compared to larger insurers

Final Verdict: Review of Empower Annuity Insurance Company

Empower Annuity Insurance Company stands as a trusted insurance provider, offering a comprehensive array of coverage options to meet diverse needs.

Their product portfolio encompasses life insurance, health insurance, property and casualty insurance, retirement annuities, and specialty insurance, ensuring individuals and families have access to a broad range of protection.

With a history of growth and transformation, Empower’s commitment to financial stability, positive customer reviews, and competitive rates for various policies make it a reliable choice in the insurance industry.

As a reputable insurer, Empower delivers on its promise to safeguard policyholders’ financial security, providing a strong foundation for peace of mind and protection in life’s uncertainties.

Empower Annuity Insurance Company Insurance Coverage Options

Empower Annuity Insurance Company offers a diverse range of coverage options to meet the insurance needs of individuals and families. Here is a bullet list of the coverage options provided by the company:

  • Life Insurance: Empower offers both term life and whole life insurance policies, providing financial protection and support to your loved ones in case of your passing.
  • Health Insurance: Empower’s health insurance plans cover a wide range of medical expenses, including hospitalization, doctor visits, and critical illnesses, ensuring your well-being and peace of mind.
  • Property and Casualty Insurance: Protect your valuable assets, such as your home and vehicles, with Empower’s property and casualty insurance. This coverage safeguards against unforeseen events like accidents, natural disasters, and theft.
  • Retirement Annuities: Planning for retirement is essential, and Empower’s annuity products guarantee a stable income stream during your retirement years, offering financial security for your golden years.
  • Specialty Insurance: Empower goes beyond the basics, offering specialized insurance products tailored to unique needs. These may include travel insurance, pet insurance, and more, addressing specific aspects of your life that require protection.

Empower’s comprehensive coverage options ensure that policyholders have access to a wide array of insurance solutions, allowing them to select the policies that best suit their individual and family needs.

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Empower Annuity Insurance Company Insurance Rates Breakdown

Driver ProfileEmpower Annuity Insurance CompanyNational Average
Clean Record$278$119
1+ Ticket$314$147
1+ Accident$406$173
DUI$489$209
Poor Credit$478$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

Empower Annuity Insurance Company Discounts Available

DiscountEmpower Annuity Insurance Company
Anti Theft15%
Good Student18%
Low Mileage15%
Paperless10%
Safe Driver20%
Senior Driver15%

The availability and specifics of discounts can vary by location and policy type. To get precise information about discounts offered by Empower, it’s best to contact the company directly or visit their official website. Here are some common types of discounts that insurance companies often offer:

  • Multi-Policy Discount: Bundling multiple insurance policies, such as auto and home insurance, with Empower may qualify you for a discount on both policies.
  • Safe Driver Discount: Maintaining a clean driving record with no accidents or violations may lead to lower premiums.
  • Good Student Discount: Students with good grades (usually a “B” average or higher) may be eligible for discounts on their auto insurance.
  • Defensive Driving Course Discount: Completing a defensive driving course can result in reduced insurance rates.
  • Anti-Theft Device Discount: Installing anti-theft devices in your vehicle can often lead to discounts on comprehensive coverage.
  • Homeowner Discount: Owning a home may qualify you for a discount on your auto insurance.
  • Safe Vehicle Discount: If your vehicle has safety features like airbags, anti-lock brakes, or electronic stability control, you may be eligible for this discount.
  • Low Mileage Discount: If you don’t drive your vehicle frequently, you may receive a discount for lower mileage.
  • Renewal Discount: Staying loyal to Empower and renewing your policy may lead to discounts over time.
  • Pay-in-Full Discount: Paying your premium in one lump sum rather than in installments may result in a discount.

Remember that the availability and terms of these discounts can vary, so it’s essential to check with Empower for specific information regarding the discounts they offer in your area and for your particular policy.

How Empower Annuity Insurance Company Ranks Among Providers

Empower Annuity Insurance Company, like many insurance providers, faces competition from several other companies in the insurance industry. These competitors offer similar insurance products and services, making the market highly competitive. Some of Empower’s main competitors include:

  • State Farm: State Farm is one of the largest and most well-known insurance providers in the United States. They offer a wide range of insurance products, including auto, home, life, and health insurance. State Farm’s extensive network of agents and a strong online presence makes them a formidable competitor.
  • Allstate: Allstate is another major player in the insurance industry, offering a variety of insurance options, including auto, home, life, and more. They are known for their comprehensive coverage options and extensive advertising campaigns.
  • Progressive: Progressive is recognized for its innovative approach to auto insurance, with features like the Snapshot program that tracks driving behavior to determine rates. They also provide various other insurance products.
  • Geico: Geico is well-known for its competitive pricing and humorous advertising campaigns. They primarily focus on auto insurance but also offer other coverage options.
  • Nationwide: Nationwide offers a wide range of insurance products and services, including auto, home, life, and pet insurance. They have a strong presence and a history of customer satisfaction.
  • Liberty Mutual: Liberty Mutual is a global insurance company that provides various insurance options, including auto, home, and life insurance. They emphasize customization and bundling to meet individual needs.
  • USAA: While primarily serving members of the military and their families, USAA is a strong competitor known for its excellent customer service and comprehensive insurance offerings.
  • AIG (American International Group): AIG is a global insurance company offering a broad spectrum of insurance products, including life insurance, property and casualty insurance, and more. They cater to a wide range of customer needs.

These competitors, along with many others, continually strive to attract customers with competitive pricing, innovative offerings, and strong customer service.

Empower Annuity Insurance Company Claims Process

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

Empower Annuity Insurance Company understands the importance of a seamless claims process for its policyholders. They offer multiple convenient methods for filing claims, including online submission, over-the-phone assistance, and user-friendly mobile apps. These options ensure that policyholders can choose the most convenient way to initiate a claim, making the process hassle-free and efficient.

Average Claim Processing Time

One crucial aspect of an insurance company’s reliability is the speed at which they process claims. Empower Annuity Insurance Company strives to provide prompt service to its policyholders. The average claim processing time at Empower is competitive, and they make efforts to streamline the claims handling process, allowing customers to receive their payouts in a timely manner.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a valuable resource for evaluating an insurance company’s performance in handling claims. Empower Annuity Insurance Company has received positive reviews from its policyholders regarding the resolution of claims and the payout process. This feedback reflects the company’s commitment to providing satisfactory claim experiences for its customers.

Empower Annuity Insurance Company Digital and Technological Features

Mobile App Features and Functionality

Empower Annuity Insurance Company offers a feature-rich mobile app that empowers policyholders with easy access to their insurance information. The app allows customers to manage their policies, file claims, and access important documents conveniently from their smartphones. Its user-friendly interface ensures a seamless digital experience.

Online Account Management Capabilities

In today’s digital age, online account management is a must-have feature for insurance providers. Empower understands this and provides robust online account management capabilities. Policyholders can log in to their accounts on the company’s website to view policy details, make payments, and update their information, ensuring full control over their insurance affairs.

Digital Tools and Resources

Empower Annuity Insurance Company goes the extra mile in providing digital tools and resources to assist policyholders. These resources may include educational materials, calculators, and other online tools to help customers make informed decisions about their insurance coverage. These digital resources reflect Empower’s commitment to customer empowerment through technology.

Frequently Asked Questions

Is Empower Annuity Insurance Company a reputable insurer?

Empower has a strong track record of providing reliable insurance coverage and has earned the trust of countless policyholders.

What types of life insurance does Empower offer?

Empower offers both term life and whole life insurance policies, each with its unique benefits.

Are Empower’s annuity products suitable for retirement planning?

Yes, Empower’s annuities are designed to provide a stable income stream during retirement, making them a suitable choice for retirement planning.

How can I get a quote for Empower insurance policies?

You can easily obtain a quote by visiting Empower’s official website or contacting their customer service.

What sets Empower apart from other insurance companies?

Empower’s commitment to customer satisfaction, diverse product offerings, and financial stability make it stand out in the insurance industry.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Free Insurance Providers Comparison

Compare Insurance Providers Rates to Save Up to 75%

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