Lafayette Life Insurance Company Review and Rates (2022)
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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 23, 2022
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Here’s the Scoop
Lafayette Life has been in business for over 100 years
You can buy whole and term life insurance policies from Lafayette Life
Lafayette Life has a free life insurance calculator on its website
Though your income may currently support your loved ones, a life insurance policy could provide a financial cushion for them if you were to pass away unexpectedly. You could even leave behind a charitable donation if you purchase a life insurance policy.
However, with numerous life insurance companies flooding the market, it can be challenging to determine which one fits your needs. Thankfully, Lafayette Life Insurance Company reviews, like this one, can help you discover which insurance company can best protect your loved ones.
Read more to learn about Lafayette Life and the insurance products it has to offer you. You can enter your ZIP code to receive free quotes right away as you read.
What is the Lafayette Life Insurance Company?
The Lafayette Life Insurance Company was founded in 1905. While it is now part of the Western & Southern Financial Group, it continues providing life insurance to those who need it. The company’s head office is in Cincinnati, Ohio, and you can call its customer service line at 800-243-6631.
Your beneficiaries can access the Lafayette Life insurance claim forms online to start the claims process quickly and receive your policy’s death benefit sooner than later. Lafayette Life even offers a life insurance calculator that helps you determine how much insurance you need.
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Is the Lafayette Life Insurance Company highly rated?
If you want to work with a company that gives back to its clients, look no further than Lafayette Life Insurance. It touts an A+ rating from AM Best and the Better Business Bureau. Looking into the Lafayette life insurance dividend history, it looks like the company will share over $70 million in dividends with its clients in 2022. And can rest assured knowing that Lafayette Life Insurance’s customer service is of the highest quality.
What life insurance products does the Lafayette Life Insurance Company offer?
Lafayette Life has you covered, no matter what you want to achieve with your life insurance. The Lafayette Life Insurance Company offers eight different life insurance products.
If you would like to purchase a policy from Lafayette Life, you can choose from this list:
Heritage 2022 Whole Life Insurance
Contender 2022 Whole Life Insurance
Patriot 2022 Whole Life Insurance
Sentinel 2022 Whole Life Insurance
10 Pay Life 2022 Whole Life Insurance
Liberty 2022 Single Premium Whole Life Insurance
Protector 2022 Simplified Issue Whole Life Insurance
Continental Term Series
All of these policies have different traits that set them apart. Let’s examine them closely so you can better understand what Lafayette Life has to offer and which policy best fits your needs.
Heritage 2022 Whole Life Insurance
When you purchase your Heritage policy, your rates are locked in, and the cash value that accumulates in your policy is tax-deferred. Additionally, if your Lafayette Life insurance policy loans don’t exceed your policy’s cash value, your plan will remain active if you are alive and making regular payments.
Contender 2022 Whole Life Insurance
You could earn Lafayette Life dividends if you own a Contender life insurance policy. You can also access a percentage of your policy’s death benefit while you’re alive if you have been diagnosed with a terminal or chronic illness.
Patriot 2022 Whole Life Insurance
Like the Heritage and Contender policies, a Patriot whole life insurance policy through Lafayette will build cash value and could earn you dividends. However, a limited payment policy provides a permanent death benefit and requires premium payments for a certain number of years. In this case, you’ll need to make payments until age 75.
Sentinel 2022 Whole Life Insurance
The Sentinel is another limited payment policy, but with this policy, you’ll only need to make payments until age 65. You can also access your death benefit if you face a terminal illness, build cash value, and have a guaranteed death benefit for life.
10 Pay Life 2022 Whole Life Insurance
The 10 Pay Life policy gets its name from the fact that you only need to make 10 annual payments to keep this policy active. It can also build cash value on a tax-deferred basis.
Liberty 2022 Single Premium Whole Life Insurance
If you have expendable funds, you’ll only need to make one lump-sum payment to ensure coverage for life with Lafayette’s Liberty policy. These policies can earn you dividends and build cash value, though you may need to pay a hefty amount at first.
Protector 2022 Simplified Issue Whole Life Insurance
Unlike the other whole life insurance policies offered by Lafayette Life, the Protector is a guaranteed issue policy. Such a policy doesn’t require applicants to undergo a medical exam, but you may pay a higher rate and won’t qualify to receive dividends from the company.
You can review arguments for and against whole life insurance policies here:
Pros and Cons of Permanent Life Insurance
Pros of Permanent Life InsuranceCons of Permanent Life Insurance
– Cash value accumulation that you can use for emergencies, large purchases, and more
– Flexible premium payments
– Tax benefits, such as tax-free death benefit and tax-deferred cash value accumulation- More expensive than term life insurance
– Your policy could lapse and rates could be higher to restart coverage
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Now that we have examined Lafayette’s whole life insurance policies, let’s look at the term life insurance product they offer.
Continental Term Series
Lafayette offers very customizable term life insurance policies if you think you’ll only need life insurance for a certain period. If you are between 18 and 50 years old, you can choose between a 10, 20, or 30-year-long policy that provides you with coverage ranging from $100,000 to $1 million.
What You Need to Know About the Lafayette Life Insurance Company
Lafayette Life Insurance is a great company to turn to if you want a whole life insurance policy that can give you more than your money’s worth. Not only do many of the life insurance policies offered by this company build cash value, but they can earn dividends too.
Lafayette Life also makes life insurance more accessible by offering guaranteed issue whole life insurance policies and term life insurance policies.
Now that you’ve concluded this review about the Lafayette Life Insurance Company, you can enter your ZIP code to start comparing free life insurance quotes from insurance companies near you.
