2022 Mutual Trust Life Insurance Company Review
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Written by
Chris Huntley
Founder of Huntley Wealth & Insurance Services
Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu…
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Reviewed by
Rachael Brennan
Licensed Insurance Agent
UPDATED: Feb 27, 2022
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Here’s the Scoop
The Mutual Trust Life Insurance Company provides participating whole life insurance policies
You can purchase a Mutual Trust life insurance product in any state but New York
Mutual Trust doesn’t have an online quoting tool
A company that gives back to its clients in a substantial manner can be hard to find these days, but the Mutual Trust Life Insurance Company has been giving back to its clients for years in the form of dividends that increase the value of a client’s policy. If you want life insurance from a company you can trust, Mutual Trust Life Insurance Company may be the right company for you.
Keep reading to learn more about this company, the coverages it offers, and the riders that it has available.
You can find the right insurance policy for your needs as you discover more about the Mutual Trust Life Insurance Company. Simply enter your ZIP code so you can receive free life insurance quotes.
Who is the Mutual Trust Life Insurance Company?
Since 1904, the Mutual Trust Life Insurance Company has been helping people get the insurance coverage they need. Now a Pan-American Life Insurance Group subsidiary, Mutual Trust offers annuities, permanent, and term life insurance policies. If you live in any state but New York, you can use Mutual Trust’s services.
If you want to work with a company with a long history of giving back to its clients, the Mutual Trust Life dividend history stretches back 100 years.
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Does the Mutual Trust Life Insurance Company have good ratings?
A.M. Best awarded the Mutual Trust Life Insurance Company with an A rating, which means that this company is solid financially, and you can rest easy knowing that a reliable company is in charge of your life insurance policy. Unfortunately, the Mutual Trust Life Insurance Company doesn’t have a rating from the Better Business Bureau (BBB), but it is worth noting that there are no client complaints listed against this company on the BBB website, either.
If you want more information about this life insurance company, you can find more free Mutual Trust Life Insurance reviews online.
What life insurance products does the Mutual Life Insurance Company offer?
The Mutual Life Insurance Company offers a total of four different policies. These policies are called:
The Horizon Value
The Horizon Guarantee
The Horizon Blend
SelecTerm
Each of these insurance policies come with some unique features, so let’s take a closer look at what makes each of these policies stand out.
The Horizon Value
You’ll get more than what you paid for with the Horizon Value plan, which is a participating whole life product. Participating whole life policies can earn dividends year after year, depending upon the performance of the insurance company that issued the policy. While no dividend is guaranteed, the Mutual Trust Life Insurance Company has been paying dividends to qualifying policyholders for over 100 years.
Not only can this plan earn dividends, but since it’s a whole life policy, you can access the cash value that this policy accrues while you’re still alive. You can use this money however you like, but be aware that you will have to pay it back if you take a loan out on the policy.
Individuals up to 75 years old can apply for this policy, and no further payments will be required after you turn 90.
The Horizon Guarantee
Just like the Horizon Value plan, the Horizon Guarantee plan is a participating whole life insurance policy. The Horizon Guarantee differs from the Horizon Value in its focus on cash value accumulation. Individuals more concerned with cash value growth would be interested in the Horizon Value plan, whereas individuals primarily looking to secure a high death benefit would be more likely to purchase the Horizon Guarantee.
Since the Horizon Guarantee is less expensive than the Horizon Value, the policy’s cash value cannot be built as quickly; however, you can purchase more coverage up front, as the minimum amount of coverage you can buy is $50,000. This policy is still eligible to receive dividends and can build cash value.
Applicants for this policy must be no older than 85 years old.
The Horizon Blend
If you are not sure if you can afford a whole life insurance policy but would like to eventually, the Horizon Blend may be a good product for you. The Horizon Blend functions as a term policy for 20 years. Once it has reached its term limit, the Horizon Blend can be converted into whole life insurance. Unlike some other companies, the Mutual Trust Life Insurance Company won’t require any proof of insurability if you want to convert your policy.
Once it has been converted, the Horizon Blend can build cash value. Applicants for this policy must be between the ages of 18 and 65, and the minimum amount of coverage you can purchase is $100,000.
SelecTerm
Term life insurance policies typically cost far less than a whole life insurance policy since these policies have a specific end date and don’t accumulate any cash value. You can choose to have your policy last for 10, 15, 20, or 30 years. The SelecTerm is a convertible policy, just like the Horizon Blend, and you can choose to convert it to permanent life insurance coverage prior to your 70th birthday.
While you can’t find Mutual Trust Life Insurance forms to get quotes for these policies online, you can use the “Find a Representative” tool on the company’s website to be connected with an insurance agent who can help you.
Does the Mutual Trust Life Insurance Company offer policy riders?
Many insurance companies offer riders so you can customize your policy, and the Mutual Trust Life Insurance Company is no exception. Mutual Trust offers riders that include:
Chronic Illness
Terminal Illness
Waiver of Premium
Accidental Death Benefit
Children’s Insurance Rider
Guaranteed Purchase Option
Term Rider
Single-Premium
Flex Pay
Don’t forget that these riders aren’t free. Every rider you add to your policy comes with its own fee and will increase your total policy rate.
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What You Need to Know About the Mutual Trust Life Insurance Company
The Mutual Trust Life Insurance Company has not only been giving back dividends to its clients for over 100 years, but it also offers an incredible amount of flexibility to its clients. Not only can you choose between nine riders to customize your policy, but you can also buy convertible policies.
Mutual Trust also has a strong financial rating from A.M. Best, proving that it is a company that you can trust. If you want a company that has been in business for quite some time and has consistently given back to its clients, Mutual Trust may be the right company for you.
Now that you’ve reached the conclusion of this Mutual Trust Life Insurance Company review, you should feel ready to find the best life insurance company for your needs. Enter Your ZIP code to start comparing life insurance quotes from companies near you today.
