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: Aug 25, 2021

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Company Details
President: Nicholas von Moltke
Address: 4415 Pheasant Ridge Rd Ste 300
City: Roanoke
State: VA
ZIP Code: 24014
Phone Number: No Phone Number Known
Toll Free: No Toll Free Number Known
Year Founded: 1915
AM Best Rating: A-
Company Rating 0 (0 reviews)

The Prosperity life insurance company provides several insurance services like Medicare supplement plans, life insurance, and annuity products. In this review, we will discuss the life insurance policies offered by Prosperity Life Insurance Group LLC.

Prosperity provides term life insurance, whole life insurance, and universal life insurance. In addition, Prosperity is well known for its final expense insurance product.

Below, we will look at different insurance policies offered by this company, share some sample rates with you, and discuss the company’s financial strength.

Before jumping into this Prosperity life insurance review, enter your ZIP code into our free quote comparison tool above.

What life insurance products does Prosperity offer?

Prosperity Life Group offers universal life insurance policies, whole life insurance, and term life insurance. However, these policies are less popular than its final expense policies.

This may be because more companies are providing traditional life insurance than final expense insurance. Let’s take a closer look at the life insurance policies provided by Prosperity Life.

Term Life Insurance

Prosperity offers Graded Death Benefit Term, Income Continuation Term, Renewable & Convertible Term, and Simple Term life insurance.

The Graded Death Benefit policy does not require a medical exam. The policy has a 20-year term to age 100 and then converts to a decreasing term with level premiums. The death benefit is up to $30,000 and reduces after 20 years.

The Income Continuation policy gives your beneficiary a monthly check based on the amount of your death benefit. You can continue these payments for two, three, or five years or until you would have turned 70.

Optional riders include inflation protection that increases payments every year and a lump sum benefit.

The Renewable & Convertible policy has level premiums for a set period. You can renew the policy until the age of 98 or convert it to whole life insurance until the age of 75.

The Simple Term policy provides coverage up to $350,000 for a minimum of 10 years. It does not require a medical exam, and premiums are level. You can renew or convert up to the age of 75.

Whole Life Insurance

Whole life insurance policies provided by Prosperity Life Group have guaranteed premiums that stay the same as long as you continually pay on time.

The policies also have a cash value that grows tax-deferred over time. You can borrow against the cash value throughout your life for large purchases and expenses. However, this will reduce the death benefits until you pay back what you’ve borrowed.

If you become terminally ill, you may access up to 50% of your death benefit.

Prosperity also offers a simplified issue whole life insurance policy that does not require a medical exam.

Universal Life Insurance

Universal life insurance from Prosperity Life is different from most universal insurance policies provided by other companies. Universal life insurance is most often used by people who want to leave a legacy for their heirs, sometimes in the form of an estate.

Prosperity provides single-premium universal life insurance, which is a permanent life insurance policy that is paid upfront in one payment. It allows the policyholder to leave a tax-free death benefit for their beneficiaries that typically bypasses probate.

Universal life insurance also allows you to take out loans against your policy in case of large expenses. However, you would need to be able to make a large payment at the opening of your policy.

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How much is Prosperity life insurance?

Prosperity sells different types of life insurance to assist its clients in planning their future. They provide different premium rates depending on the age of the client.

Below is a table that contains the average monthly rates for a 10-year term life insurance policy with $100,000 in coverage for non-smokers:

Average Monthly Term Life Insurance Rates for Non-Smokers by Age – $100,000 / 10-Year Term
Non-Smoker Age & GenderPrudentialLincoln NationalMassMutualAegon/
Transamerica
John HancockState FarmMinnesota Life
25-Year-Old Female$12.25$9.46$8.36$9.89$8.78$12.44$7.04
25-Year-Old Male$13.83$9.46$9.23$11.27$9.64$14.27$7.37
30-Year-Old Female$12.25$9.46$8.53$9.72$8.78$13.14$7.04
30-Year-Old Male$13.92$9.46$9.23$10.06$9.64$14.70$7.37
35-Year-Old Female$12.25$9.56$8.88$10.66$8.78$14.44$7.15
35-Year-Old Male$13.92$9.56$9.31$11.09$9.64$15.23$7.48
40-Year-Old Female$13.30$9.94$10.10$12.47$9.45$15.49$8.14
40-Year-Old Male$15.67$10.61$10.53$13.33$10.63$16.36$8.25
45-Year-Old Female$16.28$12.69$11.58$14.02$11.54$20.71$10.01
45-Year-Old Male$17.68$14.53$12.97$15.65$13.10$20.79$11.00
50-Year-Old Female$21.27$15.95$14.62$17.46$14.80$23.49$12.65
50-Year-Old Male$21.88$20.74$16.97$20.21$15.81$26.54$14.74
55-Year-Old Female$23.80$21.50$20.28$25.89$19.58$29.67N/A
55-Year-Old Male$28.18$27.66$24.10$30.10$22.44$34.45N/A
60-Year-Old Female$29.49$29.84$28.19$36.98$27.30$40.98N/A
60-Year-Old Male$37.72$39.03$35.50$42.66$35.15$51.50N/A
65-Year-Old Female$41.13N/A$42.64$59.94$37.74$59.51N/A
65-Year-Old Male$58.45N/A$61.68$71.29$55.74$83.09N/A
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Now we’ll take a look at the average monthly rates for a 10-year term life insurance policy with $100,000 in coverage for smokers:

Average Monthly Term Life Insurance Rates for Smokers by Age – $100,000 / 10-Year Term
Smoker Age & GenderPrudentialLincoln NationalMassMutualAegon/
Transamerica
John HancockState FarmMinnesota Life
25-Year-Old Female$20.65$18.64$17.41$15.05$21.47$19.14$13.97
25-Year-Old Male$25.90$23.19$20.02$17.37$25.93$22.19$16.60
30-Year-Old Female$21.35$19.38$18.54$15.65$23.06$21.05$14.77
30-Year-Old Male$26.87$23.44$21.15$17.46$27.45$23.23$17.74
35-Year-Old Female$22.23$20.48$20.45$17.97$24.81$23.32$15.34
35-Year-Old Male$27.57$23.81$23.49$20.30$29.09$24.36$18.54
40-Year-Old Female$27.39$26.26$25.76$25.20$29.61$28.71$20.14
40-Year-Old Male$35.00$32.91$29.59$29.93$35.72$31.32$23.23
45-Year-Old Female$39.12$39.92$33.67$33.28$35.63$35.76$29.18
45-Year-Old Male$46.38$43.41$40.03$41.02$44.29$40.98$36.39
50-Year-Old Female$56.35$48.04$45.50$52.20$47.25$48.37$40.28
50-Year-Old Male$63.62$65.37$56.82$65.45$63.86$56.81$52.17
55-Year-Old Female$73.33$62.22$67.00$81.96$63.44$66.38N/A
55-Year-Old Male$91.62$92.14$86.14$103.11$93.43$79.87N/A
60-Year-Old Female$98.53$92.58$93.27$124.01$92.52$106.14N/A
60-Year-Old Male$133.09$144.29$130.07$156.69$153.91$124.58N/A
65-Year-Old Female$135.37N/A$130.07$206.31$136.32$172.26N/A
65-Year-Old Male$200.03N/A$196.63$252.32$256.29$196.45N/A
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For final expense insurance, males who are 40 years old may pay an average of $24.02 per month, while females may pay an average of $20.43 per month. Prosperity life insurance rates generally increase with age and larger death benefits for permanent policies.

What are Prosperity’s industry ratings?

The independent review company A.M. Best has given the Prosperity Life Insurance Company a solid financial rating of A-. This is one of the best scores given by A.M. Best, and it indicates that Prosperity can meet its financial obligations, including paying your death benefit when needed.

Prosperity’s subsidiary companies, Shenandoah Life Insurance Company and SBLI USA Life Insurance Company Inc., have A and A+ ratings respectively from the Better Business Bureau.

Shenandoah Life Insurance Company has a 1.97 NAIC complaint index score, and SBLI USA Life Insurance Company Inc. has a 0.22 NAIC complaint index score.

With the national average set at 1.00, this means that Shenandoah gets more complaints and SBLI USA gets fewer complaints than companies of a similar size.

How can I get Prosperity Life quotes and file claims?

You can get Prosperity life insurance quotes by filling out the “Contact an Agent” form on the company’s website.

There are four main steps that you can use to file a claim with Prosperity:

Step 1: Visit the company’s website. Click on “Start a Claim.”

Step 2: Select the type of claim. The page contains three options: a group claim, individual annuity claim, and individual life claim. Click the type of claim you want and you’ll be directed to the next page.

Step 3: Follow the given instructions. The company gives different instructions for different types of claims.

Step 4: Download and complete the release form and gather the necessary documents. If you need help, you can contact the company’s customer care service.

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How can I contact Prosperity Life?

If you have questions regarding your policy, you may want to begin by contacting your agent.

You can contact Shenandoah by calling (800) 848-5433, SBLI USA by calling (877) 725-4872, and S.USA by calling (866) 787-2123.

Shenandoah’s mailing address is PO Box 12847, Roanoke, VA 24029. SBLI USA’s mailing address is 100 W. 33rd Street, Suite 1007, New York, NY 10001. S.USA’s mailing address is PO Box 1050, Newark NJ, 07101.

Should I buy Prosperity life insurance?

You may want to buy Prosperity life insurance if you are trying to plan for the final years of your life. The company offers a variety of policy choices for its customers, helping them choose whichever policy suits their financial situation best.

Prosperity may be a good option for those with health issues that make it difficult to obtain life insurance, since there are policies that don’t require a medical exam.

Prosperity has decent industry ratings that show it is a reputable company, and there are plenty of customer service contact options to make getting help easy.

If you’re not completely confident about finding an affordable Prosperity life insurance policy, enter your ZIP code into our free quote comparison tool below to compare quotes from multiple life insurance companies in your area.

Prosperity Life Insurance Review [2021] Additional Information

Prosperity Life Insurance Review [2021] is a company that was incorporated in 1915. Prosperity Life Insurance Review [2021] is a insurance company and has assets of , capital of $, and net surplus of $.

The president of Prosperity Life Insurance Review [2021] is Nicholas von Moltke, the treasurer is , and the secretary is . Prosperity Life Insurance Review [2021] insurance plans include
.

Prosperity Life Insurance Review [2021] is located in Roanoke, VA and the phone number for Prosperity Life Insurance Review [2021] claims, customer, service, and additional information is .

Prosperity Life Insurance Review [2021] Insurance Quotes

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