Lafayette Life Insurance Company is included in Western & Southern Financial Group's portfolio, one of the world's most formidable life insurance companies. Its constantly strong aspects include its financial stability and testimonials from pleased customers.

Furthermore, three impressive living benefit enhancements are included in most of their plans. Notwithstanding, its selection should consist of additional policy and rider options. Read further into this Lafayette Life Insurance Review to learn about their pros and cons.

History Of Lafayette Life Insurance

Even though life insurance companies already existed in 1905, Lafayette Life Insurance Company echoed the sentiments of some enterprising individuals who wanted to provide the best protection and top rates. It initially operated as a mutual benefit health policy offered within an organization, and the firm was located in Lafayette, Indiana. Lafayette Life insurance policies can be purchased in all states except Alaska and New York.

Lafayette Life has always fulfilled its customer commitments and has consistently paid dividends to eligible policies from its humble origins, which occurred throughout the two world wars and the Great Depression. The merger of Lafayette Finance Life and Western & Southern Financial Group in 2005 strengthened the company's financial standing and ratings.

Lafayette Lifes Products and Services

Retirement Services

• 401k Profit Sharing Plans
• All The Defined Benefit Plans

Life Insurance

• Term Life Insurance Policy
• Lafayette Whole Life Insurance Policy

Annuity Products

• Deferred Annuity
• Fixed Annuity
• Immediate Annuity

Pros of Lafayette Life

Lafayette Life annuities and Lafayette Whole Life Insurance provide several advantages. The company has retained its impeccable image by supplying customized products and meeting consumer requests.

Best Rating By A.M.

The A.M. Best rating pertains exclusively to Lafayette Life's parent company, Western & Southern Financial Group. Except for June 2009, the most recent grade offered by AM Best is "A+," the second-highest quality. It is imperative to bear in mind that the rating is indicative of the company's integrity, customers' contentment, and extensive array of services. The organization's Comdex Rating is impressive: 97 out of 100.

Tax-Free Life Insurance Loans

Life insurance loans, secured by cash value, can be utilized to finance any conceivable purpose. Interest and dividends are incorporated into the balance of your financial worth after repaying a loan from Lafayette Finance Life and the principal amount owed. This approach benefits borrowers who obtain policy loans to acquire income-generating assets.

Growth In Tax-Deferred Cash

A portion of the Internal Revenue Code and Lafayette Life Insurance Review is dedicated to the tax advantages of cash-value life insurance. Cash value life insurance cannot be taxed as it develops under IRC 7702. Never pay taxes on your cash value increase again by taking out policy loans instead of withdrawing it all at once.

Tax-Free Death Benefit

Your beneficiary can relish the death benefit from your Lafayette Whole Life Insurance policy without paying taxes. However, your death benefit may be subject to taxes if the value of your estate is higher than the exemption level for federal estate taxes or the amount your state imposes as an inheritance tax. Thus, preventative asset protection planning is essential for those with substantial estates.

Good Customer Service

Customer feedback consistently praises Lafayette Life's care of its clients. Lafayette Life Insurance has achieved great fame in the last hundred years by providing services to small, medium, and individual enterprises, businesses, and families. With a limited product portfolio, Lafayette Life has attained successful operational simplification and enhanced client satisfaction.

Lafayette Life Insurance achieved this through branch and franchise offices spanning 48 states and DC. Thanks to the combination of a national office and local representatives, customers have round-the-clock access to various services and answers to queries and claims. Compared to its competitors, Lafayette Life stands out because of its dedication to client service, contributing to its success and expansion.

Product Offering

Personal and small to medium-sized businesses can primarily obtain annuity products and life insurance policies from Lafayette Life Insurance Review Company. Each product available for customization to suit individual requirements has garnered overwhelmingly positive feedback. Before making a prudent decision, familiarize yourself with the differences between term and Lafayette Whole Life Insurance.

Cons Of Lafayette Life

In contrast to the quality of its services, Lafayette Finance Life has a few drawbacks, which are listed below.

Not Available In Big Cities

Everyone finds it strange that Lafayette Life isn't present in New York; this is true even if the population of Alaska is tiny and spread out over the entire state. Despite having tens of millions of prospective clients, Lafayette Life Insurance Review Life must pay attention to them. On the other hand, this is an issue for only residents of those two states.

Overpriced

Depending on your unique circumstances, you can get better rates with other life insurance providers, even if the firm provides a broad choice of products. This is a typical problem with Lafayette Whole Life Insurance offered by most corporations, as they excel in some areas while struggling in others. Before you make a final decision, you should look at and compare prices.

Lack Of Representatives

Generally, the quality of an insurance firm's field agents determines how excellent the company is overall. You risk working with a representative who could be a better fit for your requirements, even if most Lafayette Life representatives provide great service. But when you are with Lafayette Finance, going through the website is your only option, which is a major setback.

Final Words

With various policies that may accommodate multiple requirements and provide options for capital accumulation, Lafayette Finance Life primarily serves the entire life insurance market. The company holds good financial evaluations. It becomes evident that they need more competitiveness when comparing their term life insurance rates to comparable A-rated providers, such as Banner Life Insurance and Protective Life Insurance.

In addition, you should choose the company that offers the most competitive rates, as most people cannot qualify for the best deals due to health issues. Irrespective of the lowest quotation, it is more crucial which underwriter issues you health Lafayette Whole Life Insurance at the most favorable rate.