Guaranteed Trust Life Insurance Company Review

Finding a life insurance company is a piece of cake, it’s trying to find the BEST life insurance company where things start to get tricky. If you stumbled across this article it may be because you are looking for a review of Guaranteed Trust Life Insurance Company and if so, you have come to the right place! Here at InsureChance, we provide the most unbiased articles with the most information because we believe those who do share biased reviews never get the most information out because they are so opinionated and without the proper information how can one find their best life insurance company? We believe you guys will come to your own educated decision without having to be swayed left or right. If we could tell you who the best life insurance company is that would be literally the greatest thing in the world but we truly cannot. We cannot tell you who is the best company because what is the best for one person may not be the best for you. This is because everyone has their own unique and specific needs, health, and of course their own unique lifestyle. In this article we will be discussing Guaranteed Trust Life Insurance Company’s history, our review of them with their rating, and of course their life insurance products with highlights. The following are some key points from the article;

  1. The company has been around for 86 years and it alone speaks about their reliability.
  2. They offer as far as life insurance group term life insurance, children’s life insurance, and critical illness insurance.
  3. The downside to this company is that they don’t have a rating anywhere to be found and you know how important that is to have. Another downfall is that they don’t have as many life insurance products as they should.
  4. You should always consider individual life insurance because you want to get the most bang for your buck and sometimes group insurance doesn’t cut it, especially if you decide to get another job you are going to be looking at either termination of your policy or an increase in premiums drastically.

About Guaranteed Trust Life Insurance Company

Guaranteed Trust Life Insurance Company or GTL is one of the most trustworthy companies around today, of course, nothing to do with their name! The company has been around for 86 years and it alone speaks about their reliability. You should always want a company who have been around for years to show that they understand what they are doing and probably won’t disappear in a year or two. GTL according to their website, “provide a portfolio of competitive, value-driven health, accident, life and special risk insurance programs to individuals, families, and groups across the country.” Since 1936, with over three generations of the Holson family, their family values have not lost sight what so ever and since their inception has continued to motivate them. They claim to offer good, old-fashioned one-on-one customer service with their friendly and long-tenured service staff at their Home Office waiting to help. Guarantee Trust is available in 49 states and since 2014 the company was growing both its surplus and assets each year by more than 15%.

On their website, they also claim to have given back to their community. Just like many big box companies, GTL also takes great pride in their commitment to making a positive impact in our country and in the communities in which they serve. GTL has many employees whose mission is to be a good corporate citizen in which they consider it a privilege to have the opportunity to give generously and support charitable foundations that matter to them. As far as their community service they have strategic relationships with several local and national nonprofits and support a company-wise charitable giving program for their own employees.

Guarantee Trust Life Insurance Company Review 2017

Like we mentioned earlier, Guarantee Trust Life Insurance Company or GTL has been around for over 80 years and shows nothing but reliability after reliability. They offer as far as life insurance group term life insurance, children’s life insurance, and critical illness insurance. According to their website, their current financial condition is the strongest ever. Last year alone their gains grew by 10%, their assets by 11%, and reserves by 12% and achieved net premium of $219 million. Unfortunately, there is no rating provided for this company so we will not be able to share their ratings.

Why you should read a company’s rating

You should always want to read a company’s rating because it will give you a good understanding of where they stand as far as their financials. If a company receives a low or bad rating it means that they are not financially stable and are vulnerable to environment changes, or disasters. Disasters are inevitable, they are bound to happen. Let’s say the market crashes, the companies with bad ratings are running around like chickens without a head while the high rated companies stand tall and strong because they have prepared themselves for any sort of disaster. So why should you care if the companies with bad rating are running around like chickens without heads? Well, if the company decides to pull out or file for bankruptcy due to the market crash or incline, all of their policyholders’ policies will be gone like the wind, so will their premiums paid up to date.

Companies seek out the help of rating agencies to help them analyze their financials and obtain a rating. These ratings are not formed out of thin air, rating agencies go above and beyond to make sure their ratings are fair and honest. They undergo numerous investigations from financials to the company’s management team and their plans. The company’s rating gets voted on with either the president or vice president of the agency present. You, as a consumer, should care about a company’s rating because it is in your best interest to know if the company is financially stable or not.Basically, check out the company’s rating before receiving coverage because you want to make sure that they will be around for another 20 years or so, you don’t want to be paying premiums for 10 years and the company fails, because you will not be getting those premiums returned.

Guarantee Trust Life Insurance Company’s Products

Guarantee Trust Life Insurance Company offers various products and services. They offer group term life insurance, children’s life insurance, and critical illness insurance. We will go over highlights of their three life insurance products.

MultiLife Insurance

  • MultiLife is a group term life insurance for group members.
  • This product is only available through your work.
  • If both your spouse and you should die within the interval period (180 days), this product allows you to provide your death benefit for your children.
  • MultiLife covers two people with benefit amounts as high as $500,000.
  • This is an all-risk coverage which means the benefit is paid for any cause of death (medical or accident).
  • There is also an optional Single Life benefit of $15,000 that can help cover the cost of a funeral.

Great Start

  • Great Start is juvenile life insurance that grows with your child, helping provide a lifetime of protection.
  • This is a modified premium whole life insurance policy that builds up cash value over time.
  • The Great Start plan provides $5,000 up to $20,000 of whole life coverage.
  • There is no medical exam and no waiting period for this product.
  • There are only three simple health questions.
  • All children under 25 have one set premium and at age 31 and 37 they will have options to boost their coverage.
  • Life insurance is guaranteed for a lifetime as long as premiums are paid, regardless of age, health, or occupation.

Critical Illness Insurance

  • Critical illness insurance helps cover expenses that your other insurance may not cover.
  • This insurance type covers expenses associated with recovery in an Assisted Living Facility or Nursing Home.
  • This product allows you to choose your monthly base benefit.
  • The policy is designed to pay cash benefits upon diagnosis of a covered condition.
  • Critical Cash can help you withstand a prolonged treatment and recovery period without digging yourself into debt,

Final Thoughts

In conclusion, Guaranteed Trust Life Insurance Company is a pretty decent company and have been around for quite some time. They offer life products such as juvenile insurance, critical illness insurance, and group term life insurance. The downside to this company is that they don’t have a rating anywhere to be found and you know how important that is to have. Another downfall is that they don’t have as many life insurance products as they should. You should always consider individual life insurance because you want to get the most bang for your buck and sometimes group insurance doesn’t cut it, especially if you decide to get another job you are going to be looking at either termination of your policy or an increase in premiums drastically. We always recommend everyone to shop around for quotes because you will never know what you can get offered from highly rated companies such as the ones we work with. We are an independent life insurance agency who has a mission of making life insurance simple. We offer a FREE service of shopping around for quotes until we find the best company for you and we will even do the whole application. Give us a call today so that you can spend less time researching and more time being with the ones who truly matter, your family.

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About Sabrina Banks

Sabrina is an insurance nerd and content strategist at InsureChance! She is an avid traveler, cat lover and all around a ball of joy. Her obsession is creating valuable content to empower the online consumer.

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