LifeShield National Insurance Co. was established in 1982 as an Oklahoma domiciled Life Insurance Company and is part of the Midland Group of Companies. As an affiliate company of the Midland Group, LifeShield was initially formed to aid mortgage servicing clients by providing insurance products through direct mail and in-home sales. Since then, LifeShield has grown to include a wide variety of financial protection products. Here, we'll discuss final expense insurance from LifeShield.
Ratings and Financial Stability
A.M. Best, which is probably the most familiar insurance company rating service, awarded LifeShield National Insurance Company with a B++ (Good) rating. They indicate that the company’s financial footprint is from $25 million to $50 million dollars. Best also provides a BBB Long-Term rating and they describe the company’s outlook as “Positive.”
Insurance Products From LifeShield
Even though this article pertains to LifeShield National’s final expense insurance, the company also offers a few other products for American families.
The Grand American Plan from LifeShield is a supplemental insurance policy that was engineered to fill the coverage gaps in health insurance for individuals and families. The policy offers a lump-sum payment for health care expenses that result from a covered accident. This supplemental insurance fills in the coverage gaps that can be found in traditional health insurance because of deductibles, copayments, and coinsurance.
The policy health benefits are paid directly to the policyholder who can use the funds in any way they choose such as:
- Reimburse for health insurance deductibles, copayments, and coinsurance
- Help with lost income when the insured misses time at work
- Cover household and transportation expenses related to hospital stays
The Cancer policy from LifeShield works very much the same as their accident policy because it pays a lump sum benefit when a policyholder is diagnosed with cancer. This cancer benefit can be used to supplement other insurance and serves to protect the insured financially.
Applicants have the privilege of adding various riders that will help cover the numerous expenses related to a cancer diagnosis:
- Benefit for annual Cancer screening
- Benefits for daily hospital confinement
- Benefits to help cover cancer treatments like radiation, chemotherapy, and immunotherapy
- Hospital intensive care expense benefit
- Surgical expense benefit
LifeShield's Critical Illness Insurance
Lifeshield’s Critical Illness policy was created to fill the gaps in conventional health insurance when a policyholder is diagnosed with a covered critical illness. When the policyholder is diagnosed with a covered illness, they will collect a lump-sum settlement to help with almost all the costs that are usually related to the illness.
Final Expense Insurance from LifeShield
LifeShield offers a reliable final expense insurance product for seniors. The company's Survivor Life product was designed to provide final expense insurance (burial insurance) for men and women age 50 to 85-years old. The policy is whole life insurance and offers all of the guarantees and benefits that most seniors look for in a final expense insurance plan:
- Coverage guaranteed for the life of the policyholder as long as periodic premiums are paid.
- Once issued, the periodic premium cannot be increased by the insurer, even if the insured ends up being very ill and must live in a nursing home.
- LifeShield's Survivor Life policy accumulates cash value over time and can be taken out through policy loans, withdrawals, or policy surrender.
The face amounts for the Survivor Life insurance policy range from $3,000 to $50,000 dependant on the age of the applicant with the most preferred face amount being $10,000.
Here are the insurance rates for a LifeShield's $10,000 Final Expense Insurance:
For accurate quotes for your actual age, please use our world-class instant quote form on the right of this page.
Although LifeShield is not a highly advertised insurance company like Colonial Penn or Lincoln Heritage, their rates are very competitive and in most cases, applicants will not be forced to wait two or three years before the full benefit will be paid if you die resulting from natural causes.