New Era Life Insurance Company Review

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.


New Era Life Insurance Companies at a Glance

  • The company was incorporated in 1924 and current management took over in 1989
  • Rated B++ (good) by AM Best
  • Rated B+ by the BBB
  • Not BBB accredited
  • Network of independent insurance agents
  • Operates wholly owned life insurance subsidiaries including New Era Life Insurance Company of the Midwest and Philadelphia American Life Insurance Company, together known as the New Era Group

New Era Pros: Works with independent insurance agents. Provides affordable life insurance solutions. Committed to keeping insurance premiums stable and as low as possible. Promises customers will speak to a live person when they call.

New Era Cons: Limited product offering. Not A-rated by AM Best. Not BBB accredited. Limited information available about the carrier.

What Type of Insurance Does New Era Life Insurance Companies Offer?

New Era offers a several life insurance and other products including the following.

  • 24-hour accident insurance
  • Annuities
  • Critical illness insurance
  • Dental insurance
  • Final expense life insurance
  • GAP insurance
  • Health indemnity plans
  • Medicare supplement insurance

This list is not exhaustive. Your independent insurance agent can help you decide if New Era has the right type of life insurance or annuity product for your needs.

Using our insurance company directory can help you find the best insurance companies that specialize in your specific coverage needs. The company directory can also help you get connected to an agent near you.

What to Know about New Era Life Insurance Companies

New Era Life Insurance Companies offers a few products, which include life insurance, accident insurance, GAP insurance, critical illness, annuities, and Medicare supplements. New Era was incorporated in 1924 and is a family of companies that includes New Era Life Insurance Company of the Midwest and Philadelphia American Life Insurance Company. Each company operates separately. The company promises to provide quality, affordable insurance and financial products backed with outstanding customer service.

New Era is headquartered in Houston, Texas. Its products are sold through independent insurance agents.

The carrier is in the AM Best "Secure" group of insurance companies with a current rating of B++ (good). AM Best is a credit rating firm that assesses the creditworthiness of and/or reports on over 16,000 insurance companies worldwide. The AM Best rating points to the insurance company’s ability to pay claims, debts, and other financial obligations in a timely manner. Customers can expect that New Era Life has the necessary cash reserves to pay out claims, an essential factor in evaluating any insurance company before purchasing a policy.

New Era has received a B- rating from the BBB and is not a BBB accredited business.

What Discounts Does New Era Offer?

New Era Life does not publish any information regarding discounts that it makes available to its customers.

You can find out more about New Era's discounts and savings opportunities by speaking with an independent insurance agent. 

New Era Customer Service

The carrier provides the following customer service options.

  • Phone contact options vary depending on product
  • Online portal for policyholders
  • Promises that policyholders will always speak to a live person by phone
  • The company does not publish customer service hours restrictions

Hours (EST)

Monday-Friday Unknown

The best way to handle your customer service needs is to work with an independent insurance agent. These agents help make customer service easier for you by handling claims and other concerns.


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New Era Life Insurance Companies FAQ

What is New Era’s average claim response time frame?

New Era does not provide information about its claim response time.

What is New Era’s customer service availability?

New Era Life offers customer service by phone and via its online policyholder portal.

What is New Era’s claims process?

Claims information is not available on New Era’s website. The company does offer an online policyholder portal, which may include claims information.

Does New Era create a user-friendly experience for customers?

New Era’s website is quite basic. Navigation is easy but there is not a lot of information available about the company or its customer service options. There is a page dedicated to each product, which is helpful. Additional information is likely available behind the login wall of the policyholder portal, but it would be useful to have much of that information on the public side of the website.

Does New Era have good life insurance?

New Era provides a limited selection of life insurance products and annuities for individuals. It’s basic Final Expense Life Insurance policy offers the following benefits.

  • Guaranteed benefits up to $25,000: Death benefits may be purchased ranging from $2,000 to $25,000. Cash benefit amount is guaranteed and coverage builds cash value on a tax-deferred basis. Benefits can be used wherever the need is greatest, whether for burial expenses, final debt, legal fees or tuition for your children or grandchildren.
  • Guaranteed premiums for life: Premium will never go up, regardless of age or health. Only you can cancel your policy.
  • No medical tests: Platinum Series Whole Life Insurance features no medical tests, physician statements, or blood tests are needed. 

Your independent insurance agent can help you find even more information about life insurance and other products from New Era Life.

Is New Era Life a good insurance company?

New Era offers a limited number of products that may be beneficial for people with health problems and have trouble finding affordable coverage elsewhere. Its basic life insurance policy promises level premium and no health exams.

New Era Life Customer Reviews

Customer reviews of New Era Life Insurance Companies were not found.'s Final Review

We award New Era Insurance Companies a final rating of 2.5 out of 5 stars. While New Era has been in business for quite some time, there is very little information available about the company, making it difficult to draw conclusions. It appears to be a viable option for people who have difficulty obtaining life insurance and other insurance products. The company promises affordable rates and personal service. Presumably other service options appear behind the login wall, but it’s not known exactly what the company’s service options are besides phone contact.

Online customer reviews for New Era are non-existent, however, a few complaints have been filed with the BBB. The company’s B+ ratings from AM Best and the BBB are another cause for concern.

If you’re in the market for no-frills life insurance or other insurance products, you may want to take a look at New Era Life Insurance companies along with the help of an independent insurance agent. It’s up to you and your agent to decide if the carrier’s simple, straightforward products and affordability outweigh any red flags about financial stability and limited information about the company in general.

Use our insurance company directory to find the best insurance companies to fit your needs. Locate companies that specialize in your specific coverage needs and get connected to an agent near you.

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