Columbus Life Insurance Company at a Glance
- Founded in 1906
- Coverage available in all states except New York
- Offers term and universal life insurance
- Also offers annuities
- “A+” (superior) rating by A.M. Best
- “A+” (excellent) rating by Better Business Bureau
- Works with a wide network of independent insurance agents
- A member of Western & Southern Financial Group
- A member of a leader in life insurance products worldwide
- Strong financial stability
Columbus Life Pros: This company has more than a century’s worth of experience in the insurance industry and provide several options for life insurance and annuities. It has extremely high ratings through both A.M. Best and the BBB and coverage is available in almost every state. It has a strong parent company with strong financial stability.
Columbus Life Cons: It does not offer 24/7 claims reporting or online filing and it's hard to find customer reviews. Coverage is not available in New York.
What Type of Insurance Does Columbus Life Offer?
Columbus Life is a specialized insurance company with a focus on life insurance. Their products include:
- Universal life insurance
- Indexed universal life insurance
- Term life insurance
If you’re in the market for life insurance coverage or an annuity, Columbus Life may just be the right insurance company for you.
What to Know about Columbus Life
Columbus Life Insurance Company was founded in 1906 under the name Columbus Mutual. The insurance company has now had well over a century’s worth of experience in the insurance industry. Columbus Life is a member of Western & Southern Financial Group, which is a leader in life insurance, annuities, financial services, and more across the globe.
Columbus Life works with more than 3,000 independent financial service representatives nationwide, offering coverage in all states except New York, which allows the carrier to reach prospective customers all across the US. At the end of 2018, the insurance company reported nearly $4.5 million in total assets, and $311,260 in annual revenue. The carrier’s parent company, Western & Southern Financial Group, reported a total of $51.8 million in assets that same year.
Thanks to its extensive history, strong parent company, and impressive financial strength, Columbus Life has a reputation as being a financially stable insurance provider today, and one that has a positive outlook for the next century. A.M. Best, the leading global credit rating agency monitoring the insurance industry, gives Columbus Life an “A+” rating, indicating the carrier is a superior choice for insurance customers. A high rating from A.M. Best assures customers that Columbus Life is capable of offering guaranteed, secure coverage from a trustworthy and reputable carrier.
Established in 1899, A.M. Best is one of the oldest rating companies in the world. Reviews from A.M. Best indicate an insurance company’s financial strength and creditworthiness, and are based on comprehensive evaluations of the company’s operating performance, business profile, and balance sheet. For customers who aren’t as familiar with insurance companies’ respective reputations, A.M. Best’s ratings system allows them to make an informed decision about who they can trust to meet their needs in the short term, and who will remain a strong, financially sound company in the long term.
What Discounts Does Columbus Life Offer?
While Columbus Life does not make information about their specific discounts readily available, many modern life insurance carriers offer common discounts on comparable coverages. These discounts may include:
- Safe hobbies discount: Life insurance companies often award customers who practice safe, non-life-threatening habits (e.g., no skydiving) with cheaper premiums.
- Healthy family history discount: Life insurance companies also reward applicants with healthy genetics, or a good family health history.
- Non-tobacco user discount: Life insurance companies tend to reward customers who do not use tobacco products with cheaper premiums. (Smokers can pay as much as 200%+ more.)
- Young applicant discount: When signing up for life insurance, considerable discounts are often awarded to applicants who purchase coverage when they are younger, such as in their 20s or 30s.
- Annual premium discount: Insurance companies often award discounts to customers who pay their premiums annually instead of monthly.
Your independent insurance agent can help you find more information on exact discounts offered by Columbus Life and other ways to save on your premiums.
Columbus Life Customer Service
Columbus Life does not offer 24/7 or online claims reporting. The carrier does provide the following customer service options:
- Email contact option available.
- Snail mail contact option available.
- Claim request form also available through the website.
- Customer service and claims hotline has the following hours restrictions:
|Monday-Thursday||8 am - 5:45 pm|
|Friday||8 am - 4:45 pm|
Columbus Life sells insurance through a wide network of independent insurance agents across the country. Independent insurance agents can help make customer service easier for you by handling claims and other concerns.
Columbus Life Insurance Company FAQ
What is Columbus Life's average claim response time frame?
Columbus Life only allows claims to be filed via snail mail or phone, which slows the process down considerably compared to other modern insurance companies. The carrier’s official website states that if a customer submits a claim request form through the website, they will mail the necessary forms within seven business days. The website also states that if a claim is reported via phone, it will be started immediately.
What is Columbus Life's customer service availability?
Columbus Life offers one hotline for claims reporting and customer service inquiries which is available at restricted hours, Monday though Friday. The insurance company also has a presence on social media on Facebook, Twitter, and LinkedIn, which makes them a bit more accessible to customers.
What is Columbus Life's claims process?
Columbus Life only accepts claims filed through snail mail or over the phone. Customers can begin the process online, but cannot completely file through the website. The insurance company’s official website breaks the claims process down as follows:
“Step 1: Contact Columbus Life
First, let us know about your disability, life insurance, or annuity claim. If you call our service center to report the claim, we will begin the process immediately. If you submit the request through our website, a service representative will be in contact with you soon to obtain the information needed to initiate the claim. All necessary claim forms will be mailed to you within seven business days.
Step 2: Complete & submit claim forms
Once you receive the claim forms by mail, complete and submit them to Columbus Life. In the event that we need more information, we will contact you.
Step 3: Evaluate your claim & receive your funds
When we receive your forms, the review process will begin. We analyze each claim individually with regard given to the facts submitted, the specific policy provisions and any applicable state and federal laws. Once your benefits are approved, we will contact the beneficiary of the policy and mail your benefit payment within seven business days.”
Does Columbus Life create a user-friendly experience for customers?
Columbus Life’s official website isn’t the best among other modern insurance companies, but it’s also far from the worst. Pertinent information is easy enough to find, but web pages could be a bit lengthier to provide more satisfying, in-depth responses. While the insurance company’s official website does offer some helpful customer service options such as finding an independent agent, it fails to offer other options that today’s insurance customers have come to expect, such as online claims reporting. The carrier has an active social media presence, however. Columbus Life also provides a mobile app for smartphone users.
Does Columbus Life have good life insurance?
Columbus Life offers term life insurance to customers ages 18-75. Terms available include 10, 15, 20, and 30 years. Policies also come with a built-in accelerated death benefit rider, to be used in the event the policyholder is diagnosed with a terminal illness.
Columbus Life also offers several universal life insurance options. Policies can be purchased for newborns or those over the age of 75, and everyone in between. Coverage options include guaranteed death benefits, growth accumulation, and asset preservation.
Is Columbus Life a good insurance company?
In terms of offering dependable coverage from a trustworthy carrier, Columbus Life seems to deliver. The company has been consistently awarded high ratings for financial strength. Coverage is also available practically nationwide thanks to a large network of independent insurance agents.
Columbus Life Insurance Company Customer Reviews
|“We had some questions about an old life insurance policy we have. We first contacted our local W&S agency. They were no help at all. All they wanted to do is sell us more insurance. We then contacted the home office in Cincinnati. We talked to Cheryl. She was wonderful. She answered all our questions and told us about several options we didn't know we had. She is mailing us the forms we need to make the changes.”|
|“Would give them a -10 stars if I could. Stay away between my mother and her parents, they have been with this company for over 40 years. My mother passed away from cancer and we can’t have her a funeral because they will not release her money to my father which is her beneficiary. It’s been a week and they say they can’t help us that they can’t release her money because she owns the policy. Well that is why you have beneficiaries […] so the persons family can bury their loved ones. Instead they are keeping us in agony!"|
|“Columbus Life Insurance Company is a forward moving company. While not massive or overly branded as many other carriers, this will likely position them higher among their competitors as they grow and evolve. In any case, you can trust the strength of the carrier, their value in products, and the service you can expect as a client.”|
|“During COVID 19 this employer has been incredible. We were given guidelines to follow to ensure we are safe. The company provided special incentives to get all of the staff through the tough times when it first hit. We have all worked together to make the most of a challenging time. I would encourage any salesperson to consider this as their home.”|
|“Fast paced environment, challenging work. Working as an individual on a team, always had backup when needed. Excellent management team, focus driven, devoted to employee welfare.”|
TrustedChoice.com's Final Review
We award Columbus Life Insurance Group a final rating of 4 out of 5 stars. The insurance company has been in business for well over a century now, giving them ample time to hone their craft within the insurance industry. Columbus Life has extremely high ratings through both A.M. Best and the BBB, and have a low number of complaints filed against them, especially relative to how long they’ve been around. The carrier has demonstrated remarkable financial strength and stability, which is predicted to continue for years to come. The carrier does lose some points for not offering 24/7 claims reporting or online filing, which is a service provided by many modern insurance companies today. However, being part of Western & Southern Financial Group certainly aids Columbus Life’s credibility and makes them more appealing as a dependable option for prospective customers. We also like that coverage is available nationwide, with just the exception of New York. If you’re looking into life insurance or annuities, we say don’t hesitate to explore Columbus Life as an option to meet your coverage needs with your independent insurance agent.
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