Wilcac Life Insurance Company Review (2024)
Life Insurance was bought out by the Wilco Life Insurance Company. Neither Life Insurance nor Wilco offer specifics online when it comes to the life insurance products that are offered. Wilco does have an A+ (Superior) financial strength rating with A.M. Best.
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Heidi Mertlich
Licensed Life Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Life Insurance Agent
UPDATED: Mar 9, 2024
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- Wilcac Life Insurance was acquired by the Wilco Life Insurance Company
- Wilco does not list its life insurance products on the company website
- Wilco has an A+ (Superior) financial strength rating with A.M. Best
Searching for a life insurance policy can be a difficult and stressful experience. Depending on what you are looking for, you may find it hard to purchase the coverage you are looking for at a price you can afford. If you are considering purchasing a new life insurance policy, you may want to consider Wilcac life insurance.
The Wilcac Life Insurance Company, which was recently acquired by Wilco Life Insurance Company, offers life insurance products to clients throughout the U.S. The company states online that its main goal is to help families find security and safety in the midst of trying times.
As you do your research to find the best life insurance companies in your area, it is a good idea to shop around with multiple companies for coverage options. This will help you find what you want, and it will also keep you from overpaying on monthly rates.
In fact, you can use our free quote tool above to find and compare life insurance rates from some of the best companies in your area.
What does Wilcac offer?
Though we know Wilcac Life Insurance was acquired by the Wilco Life Insurance Company, there is not much additional information online that states the types of products the company offers.
When it comes to life insurance policies, you have two main options: term or permanent coverage. If Wilco offers term life insurance policies, this means the company offers options for policyholders to purchase coverage for a specific amount of time. With term life insurance, this amount of time is typically anywhere from 10-30 years.
Wilco Term Life Insurance
A term life insurance policy is a good idea for young individuals — especially as rates when you are younger tend to be fairly inexpensive — along with anyone who wants to start a family. Term life insurance policies are fairly simple. If you pass away during the duration of your term, the death benefit of your policy will be paid out to anyone listed as a beneficiary of your policy.
Wilco Permanent Life Insurance
When it comes to permanent life insurance, there are a lot more options. Typically, permanent life insurance options with most companies include:
- Whole life insurance
- Universal life insurance
- Variable life insurance
- Variable-universal life insurance
Whole Life Insurance
A whole life insurance policy is the most common type of permanent life insurance. Whole life insurance offers death benefits and also allows policyholders to accumulate a cash value with their policy as well. Many whole life policies offer the same monthly rates year after year, which allows for consistency with budgeting.
Universal Life Insurance
A universal policy offers more flexibility than a whole life policy. After you have chosen your policy, you may be able to adjust the death benefit, the cash value that is accrued, and even the premiums you pay month-to-month.
Variable Life Insurance
Variable life policies allow clients to increase the cash value of their policy by turning to stocks, bonds, and money market mutual funds. This type of life insurance policy has a value that can grow more rapidly, but it also invites more risk as it is dependent on investments in the market.
Variable-Universal Life Insurance
As you can guess, a variable-universal life insurance policy allows certain features of both types of policies in one. You can utilize the investment side of a variable life policy while still taking advantage of the flexibility of a universal life insurance policy.
The different options for life insurance coverage listed above may sound confusing. If you feel like you do not know where to start, you could call and speak to a life insurance agent to get more information about what might work best for you and your loved ones.
As you invite the opinions of other agents or insurance representatives, be sure to compare quotes from multiple life insurance companies before you make any final decisions on coverage.
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How much is life insurance with Wilcac?
When it comes to life insurance policies with Wilco, there is no clear information online regarding product quotes or average rates for different types of policies.
Typically, it is impossible to know what you will pay for a life insurance policy until you get a quote from a company based on your unique situation. Life insurance companies take several factors into account when developing individual rates. These factors often include:
- Your age
- Your gender
- Your health status
- Your family’s health history
- Whether you smoke
- Your occupation
- Your lifestyle
- Your location
The table below shows the average life insurance rates for a 20-year term life policy based on a person’s age, gender, and policy amount.
Average Monthly 20-Year Term Life Insurance Rates by Age, Gender, and Coverage Value| Age and Gender | $250,000 Policy Average Monthly Life Insurance Rates | $500,000 Policy Average Monthly Life Insurance Rates | $750,000 Policy Average Monthly Life Insurance Rates | $1 Million Policy Average Monthly Life Insurance Rates | $2 Million Policy Average Monthly Life Insurance Rates |
|---|---|---|---|---|---|
| 20-Year-Old Male | $18 | $29 | $40 | $47 | $86 |
| 20-Year-Old Female | $15 | $22 | $30 | $35 | $64 |
| 25-Year-Old Male | $17 | $28 | $39 | $46 | $86 |
| 25-Year-Old Female | $15 | $22 | $30 | $35 | $65 |
| 30-Year-Old Male | $18 | $29 | $40 | $47 | $89 |
| 30-Year-Old Female | $15 | $23 | $31 | $37 | $69 |
| 35-Year-Old Male | $19 | $31 | $44 | $52 | $99 |
| 35-Year-Old Female | $17 | $26 | $36 | $43 | $79 |
Looking at the table, you can see that rates for a policy with a higher death benefit are more expensive than those with lower limits.
In comparison to the term life insurance table above, the table below shows average whole life insurance rates based on a person’s age, gender, and policy amount.
Whole Life Insurance Rates by Age, Gender, and Policy Limit| Age & Gender | $250K Policy Limit | $500K Policy Limit | $750K Policy Limit | $1M Policy Limit | $2M Policy Limit |
|---|---|---|---|---|---|
| 25-Year-Old Female | $156 | $307 | $458 | $600 | $1,196 |
| 25-Year-Old Male | $178 | $351 | $524 | $688 | $1,179 |
| 30-Year-Old Female | $189 | $374 | $558 | $733 | $1,462 |
| 30-Year-Old Male | $213 | $421 | $629 | $827 | $1,650 |
| 35-Year-Old Female | $219 | $433 | $647 | $852 | $1,699 |
| 35-Year-Old Male | $261 | $517 | $773 | $1,020 | $2,035 |
| 40-Year-Old Female | $264 | $523 | $782 | $1,032 | $2,059 |
| 40-Year-Old Male | $328 | $652 | $975 | $1,289 | $2,574 |
| 45-Year-Old Female | $329 | $653 | $978 | $1,293 | $2,581 |
| 45-Year-Old Male | $416 | $827 | $1,239 | $1,641 | $3,277 |
| 50-Year-Old Female | $421 | $837 | $1,254 | $1,661 | $3,317 |
| 50-Year-Old Male | $531 | $1,057 | $1,584 | $2,101 | $4,198 |
| 55-Year-Old Female | $544 | $1,084 | $1,623 | $2,153 | $4,302 |
| 55-Year-Old Male | $678 | $1,351 | $2,024 | $2,688 | $5,372 |
| 60-Year-Old Female | $705 | $1,406 | $2,107 | $2,799 | $5,593 |
| 60-Year-Old Male | $865 | $1,725 | $2,586 | $3,437 | $6,869 |
| 65-Year-Old Female | $935 | $1,865 | $2,796 | $3,717 | $7,429 |
| 65-Year-Old Male | $1,123 | $2,241 | $3,360 | $4,468 | $8,932 |
| 70-Year-Old Female | $1,274 | $2,544 | $3,814 | $5,074 | $10,143 |
| 70-Year-Old Male | $1,518 | $3,031 | $4,544 | $6,047 | $12,090 |
You can see that term life insurance rates are a good bit cheaper than whole life insurance. If you know how much you can afford to pay for life insurance coverage, these average rates may help you narrow down your options when it comes to the type of coverage you should choose.
Wilcac Life Insurance Effortless Claims Process
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
When it comes to filing a claim with Wilcac Life Insurance, customers have the convenience of multiple options. The company offers various channels for initiating a claim, including online, over the phone, and potentially through mobile apps. This flexibility in the claims process allows policyholders to choose the method that suits their preferences and circumstances best.
Average Claim Processing Time
While specific data on Wilcac’s average claim processing time may not be readily available in the provided information, it’s crucial to consider this aspect when evaluating an insurance provider. Timely claim processing can greatly impact a policyholder’s experience during a difficult time.
Prospective customers may want to inquire about this information directly from Wilcac Life Insurance or check customer reviews for insights.
Customer Feedback on Claim Resolutions and Payouts
Gauging customer feedback on claim resolutions and payouts is essential for assessing the reliability of an insurance company. Although Wilcac Life Insurance is now part of Wilco Life Insurance, insights into customer experiences can still provide valuable information.
While the information available does not offer specific feedback, prospective policyholders should seek out customer reviews and ratings to gain a better understanding of the company’s track record in handling claims.
Unveiling Cutting-Edge Digital and Technological Features by Wilcac Life Insurance
Mobile App Features and Functionality
In the modern digital age, insurance companies often provide mobile apps to enhance customer convenience. While the details of Wilcac’s mobile app features and functionality are not outlined in the provided content, it’s important for potential policyholders to investigate whether the company offers a mobile app.
A well-designed app can facilitate tasks such as policy management, claims filing, and accessing important documents on the go.
Online Account Management Capabilities
Online account management is a critical aspect of insurance services today. Policyholders rely on online portals to view policy details, make payments, and update their information. While the extent of Wilcac’s online account management capabilities is not explicitly mentioned, it’s advisable for customers to explore the company’s website and inquire about the features available for policyholders.
Digital Tools and Resources
In an era of digital innovation, insurance companies often provide digital tools and resources to educate and assist their customers. The provided information does not specify the digital tools and resources offered by Wilcac Life Insurance.
However, prospective policyholders should inquire about resources such as educational materials, calculators, and online support to make informed decisions regarding their insurance coverage.
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Does Wilcac have good ratings and reviews?
Because Wilcac was bought out by Wilco Life Insurance, it makes more sense to check out Wilco’s online ratings and reviews. Wilco has an A+ (Superior) financial strength rating with A.M. Best and a stable outlook. The company does not have a rating with the Better Business Bureau.
As far as customer reviews go, Wilco does not have much information online. But there are a few customers who have complained about the company’s insurance claims process and asked for more of an online presence when it comes to managing individual policies.
If you are considering purchasing a life insurance policy with Wilco, be sure to do your research and look at other companies, too. It is important for you to see what is out there in order to avoid paying too much for a life insurance policy.
You can use our free quote tool below to find and compare life insurance rates today.
Read more: Cancelling Your Wilcac Life Insurance Company Life Insurance Policy