Western Reserve Life Insurance Company
Western Reserve Life Insurance Company
4333 Edgewood Road N.E.
Cedar Rapids, IA 52499
Life is important. So is financial stability. The Western Reserve Life Insurance Company’s primary objective ever since it was founded by Bill Callaghan in Ohio on November of 1958 was to provide people’s lives with financial security. In the years between the founding and 1962, the company grew rapidly as they expanded and acquired other insurance companies with Jack Kenney spearheading the group and leading them to become one of the nation’s top providers of variable universal life insurances and annuities. The following years found the company merging and spinning off from larger insurance companies until Western Reserve Life’s first Variable Universal Life insurance product was launched in 1986. This was the revolutionary product that sustained the company’s growth as they merged with the AEGON Insurance group in February 1991 to help Americans achieve their dreams of financial stability.
Western Reserve Life maintains their tradition of providing people a full array of life assurance products for both individuals and businesses in over 50 years. At present, the company is headquartered in St. Petersburg, Florida with branches operating across different states. Western Reserve Life employs independent brokers and agents and at the same time utilizing online resources to market and sell their products.
Western Reserve Life became a member of the Insurance Marketplace Standards Association (IMSA) in 1998. IMSA is a voluntary membership organization that promotes high ethical standards in the sale of individual life insurances and annuities.
These standards help assure present and future clients that the company maintains the commitment of honesty, fairness, and integrity in all transactions and contacts involving the sale and individual life insurance servicing. As part of the commitment, sales process, employees, and representatives are also being monitored regularly.
The company’s financial strength and stability has consistently garnered high ratings by four different assessors. AM Best, the industry leader in insurance company ratings, rated Western Reserve Life as “Superior”, Fitch rated them “Very Strong”, Moody’s Investors Service rated the company “Good”, and finally Standard & Poor’s rated them “Very Strong”. These ratings were stated to be independent opinions of the insurance company’s ability to fulfill their obligations to policyholders based on the company’s financial situation, revenues, asset to debt ratio, liquidity, and including management quality. These good ratings that the company gets indicate that policyholders of Western Reserve Life Insurance Company are in fairly good and secured hands.
The array of products that Western Reserve Life Insurance Company offers for individuals range from financial products, annuities, Term Life Insurance, Universal Life Insurance, Index Universal Life Insurance, 2nd to die policies, to their most famous and valued product which is the Variable Universal Life (VUL) insurance policy. The VUL is a unique life insurance policy which combines all tax advantages of life insurance with potential investment advantages of managed money with a death benefit. Their Universal Life policy on the other hand combines benefits of permanent insurance with competitive coverage. The life policy products that they offer to individuals are designed to ensure financial security whether the intent was to save for retirement or to care for the family’s financial future. Western Reserve does not limit itself to providing products for individuals only.
For businesses, they offer buy-sell arrangements. Prospective clients who are interested in availing the company’s services can visit their website directly and view more detailed descriptions of the products that they sell. Their website also has an option for interested customers to calculate and determine your financial future be it for College, Life Insurance Needs, Retirement Needs, and others.
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Life Insurance Articles
- Whole Life Insurance
- What is a Universal Life Insurance?
- Waiver of Premium
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- Variable Universal Life Insurance
- Variable Annuitization
- Accumulated Amount
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