Occidental Life Insurance Review [2022]
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 in…
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Written by
Rachael Brennan
Licensed Insurance Agent
Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.
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Reviewed by
Benji Carr
Former Licensed Life Insurance Agent
UPDATED: Jan 27, 2022
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Quick Facts
Occidental Life Insurance provides term life, universal life, and whole life insurance
Occidental Life Insurance offers various riders
Occidental Life Insurance has been rated an A by A.M. Best
Occidental Life Insurance provides term and permanent life insurance policies to customers in all 50 states. In addition, the company offers several options that customers can add to a plan and is rated an A by A.M. Best.
Discovering more about Occidental Life Insurance will help you determine if the company is right for you.
Before starting this Occidental Life Insurance review, enter your ZIP code to get free life insurance quotes in your area.
How does Occidental Life Insurance determine rates?
Life insurance companies use several different factors when determining rates. The goal is to estimate whether the policyholder will pass away before paying off the policy. Some of the common factors companies use to determine rates include:
Age
Gender
Health
Occupation
Hobbies
Occidental doesn’t provide rates or quotes for customers online. Instead, the company requires customers to contact an independent agent to inquire about life insurance options. The agent will help you determine the best plan for your needs.
When speaking with a representative, you’ll need to answer various questions about your family, medical history, occupation, hobbies, and lifestyle. The representative will use these answers to help you find affordable Occidental Life Insurance rates.
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What products are offered by Occidental Life Insurance?
Occidental provides term life, universal life, and whole life insurance. The company fully underwrites all policies, so customers have to answer medical questions and undergo a medical exam to obtain coverage.
The company’s term life policies are available in 10, 20, and 30-year terms. Coverage ranges from $25,000 to $300,000, and policies are renewable following expiration. Additionally, customers can convert to a whole life policy at the end of a term.
Customers that desire a permanent life plan with flexibility can choose universal life insurance. This type of coverage has flexible rates, and customers can change the death benefit over time. However, the maximum value of this policy is $250,000.
While Occidental Life Insurance only offers one type of universal life insurance, three whole life options are available. The Family Choice plan is for customers 49 years old and younger. The maximum value is usually $35,000, but it depends on the insured’s age.
The Financial Lifeline plan is a modified whole life policy, resulting in lower rates for the first two or three years and higher rates over time. The cash value accumulations are available in annuities, and the maximum value is $150,000.
The Occidental Senior Choice policy is a final expense plan. This option is available for cuquickquote.com/accidental-death-life-insurancestomers between 50 and 85 and has a maximum value of $35,000. Instead of providing financial support for loved ones, this plan pays for funeral and burial expenses.
Does Occidental Life Insurance offer riders?
In addition to standard policies, most life insurance companies offer options that customers can add to a policy. These options are called riders and allow policyholders to customize their policies.
The most common life insurance option is the accelerated death benefits rider. This option is included with some policies and allows customers to access a portion of their death benefit before death if they suffer from a terminal illness.
While the accelerated death benefits rider is available free of cost, Occidental Life Insurance provides other optional riders for a fee. A common addition is accidental death life insurance, which provides a payout when the insured dies of an accident.
Other optional riders include:
Accelerated benefit for confined care
Children’s insurance
Return of premium
Waiver of premium
Waiver of a premium due to unemployment
These optional riders offer further protection, providing a payout when a standard plan would not. However, adding optional riders to policies increases Occidental Life Insurance quotes.
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How is Occidental Life Insurance rated?
Insurance companies are regularly reviewed and rated based on financial strength. Credit rating agencies use these ratings to determine the company’s ability to provide a payout when customers file a claim.
Occidental Life Insurance has been rated an A by A.M. Best, the most trusted rating agency. This rating is excellent and indicates that the company will provide a payout whenever a customer files a claim.
The Better Business Bureau (BBB) has also reviewed the company, rating its business practices. Occidental has been rated an A+ by the BBB, indicating that the company is transparent with customers.
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Does Occidental Life Insurance have any complaints?
Examining the complaints of insurance companies helps customers determine their quality of service. The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) reviews complaints made about companies.
At the time of this review, the BBB has received three complaints about Occidental during the last three years. Two of these complaints were about the company’s products and services, and the other was about Occidental’s advertising or sales.
According to the NAIC, Occidental has received three complaints. The company’s complaint index ratio is 1.73, indicating slightly more complaints than a company of a similar size.
How can you contact Occidental Life Insurance?
Occidental allows customers to contact the company by phone, fax, or email. Customers can use these methods to buy Occidental Life Insurance, ask questions, and file complaints or claims.
The quickest way to reach Occidental Life Insurance is by phone at 800-736-7311. The company greets callers with a menu that connects them with the correct department. A representative will then help with whatever task they need to complete.
Customers can also reach Occidental Life Insurance by fax. However, unlike calling the company, Occidental has three different fax numbers. The right option depends on why you’re calling the company. The fax numbers for Occidental are:
Main: 254-297-2105
Claims: 254-297-2756
Sales: 254-297-2709
The third way to contact Occidental is by email. Like faxing, emailing the company will take longer to get a reply than by phone. However, this might be necessary if you’re required to send additional documentation for your policy or claim.
The email addresses for Occidental are:
Occidental’s contact information is through its parent company, the American Amicable Group. If you’re unsure about the correct fax number or email address, calling the company phone number will allow you to speak with a representative.
Who is Occidental Life Insurance?
The Occidental Life Insurance Company of North Carolina began in 1906 in New Mexico. The company moved its headquarters to Raleigh, North Carolina in 1926, adding North Carolina to its name.
The American Amicable Group would eventually acquire the company. In addition to Occidental Life Insurance, the American Amicable Group of Companies owns:
American Amicable Life Insurance Company
Pioneer American Insurance Company
Pioneer Security Life Insurance Company
IA Life Insurance Company
The Occidental Life Insurance headquarters are now in Waco, Texas, with the other American Amicable companies. The company still provides life insurance but has expanded into all 50 states.
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Occidental Life Insurance: The Bottom Line
Occidental provides term life, universal life, and whole life insurance to customers throughout the United States. A part of the American Amicable Group, the company has strong financial backing and is rated an A by A.M. Best.
Knowing more about Occidental Life Insurance will help you determine if the company is a good fit.
Now that you know about Occidental Life Insurance, enter your ZIP code to find free life insurance rates in your area.
