Woodmen Life Insurance Review & Ratings (2023)

Woodmen Life is a well-known insurance company that has been in business for over 130 years. The company’s mission is to help its members achieve their financial goals and provide peace of mind through its various insurance products and services. They offer life insurance, annuities, retirement planning, and other financial services.

Woodmen Life has a strong presence in the United States, with services available in all 50 states. Their services are reasonably priced, and they offer several discounts to their customers, including multi-policy, good driver, and safe driver discounts. Customer reviews of Woodmen Life are generally positive, with customers praising the company’s customer service and affordable pricing.

Interesting Attributes of Woodmen Life Insurance:

• Over 130 years of experience in the insurance industry
• Wide range of insurance and financial products and services
• Multiple discounts available to customers

Woodmen Life is a highly reputable insurance company that has been providing its services for over 130 years. The company’s mission is to help its members achieve their financial goals and provide peace of mind through its various insurance products and services.

Whether you’re looking for life insurance, annuities, retirement planning, or other financial services, Woodmen Life has got you covered. In this article, we will explore the company’s history and mission, its main products and services, the cost of those services, the states where they are available, the different types of discounts available to customers, and an overview of customer reviews of the company.

Woodmen Life Insurance History and Mission

Woodmen Life was founded in 1890 in Omaha, Nebraska, by a group of individuals who wanted to create a fraternal benefit society to provide financial protection and support to their families and communities. Over the years, Woodmen Life has grown to become one of the largest fraternal benefit societies in the United States, with over 700,000 members across the country.

The company’s mission is to help its members achieve their financial goals and provide peace of mind through its various insurance products and services.

Woodmen Life offers a range of insurance and financial products, including life insurance, annuities, retirement planning, and other financial services, to help its members achieve their financial objectives and protect their loved ones in the event of unexpected life events.

Woodmen Life is committed to providing personalized and responsive customer service to its members, helping them navigate their financial options and making informed decisions about their financial future. The company also has a strong commitment to giving back to the community and supporting local charitable organizations through its WoodmenLife Foundation and other philanthropic initiatives.

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Coverage Available From Woodmen Life Insurance

Woodmen Life offers a range of insurance and financial products to help its members protect their loved ones and achieve their financial goals. Here is an overview of the main types of coverage available from Woodmen Life:

• Life insurance: Woodmen Life offers term life insurance, whole life insurance, and universal life insurance. Term life insurance provides coverage for a specific period of time, while whole life insurance and universal life insurance provide coverage for the duration of the insured’s life.
• Annuities: Woodmen Life offers a range of annuity products to help its members save for retirement and generate income in retirement. Annuities are a type of investment product that provide a steady stream of income over a set period of time or for the rest of the annuitant’s life.
• Retirement planning: Woodmen Life offers a range of retirement planning services, including IRA accounts, 401(k) rollovers, and other retirement savings options. The company’s retirement planning services are designed to help its members achieve their retirement goals and provide a comfortable retirement income.
• Other financial services: In addition to its insurance products, Woodmen Life offers a range of other financial services, including mutual funds, college savings plans, and financial planning services. These services are designed to help its members achieve their financial goals and make informed decisions about their financial future.

Cost of Woodmen Life Insurance

The cost of Woodmen Life’s insurance and financial products can vary depending on a number of factors, such as the type of coverage, the amount of coverage, the age and health of the insured, and other individual factors. Here is an overview of the possible costs of Woodmen Life’s main products:

• Life insurance: The cost of Woodmen Life’s life insurance policies can vary depending on factors such as the type of policy, the amount of coverage, the age and health of the insured, and other individual factors. Generally, term life insurance is the most affordable type of coverage, while whole life insurance and universal life insurance tend to be more expensive.
• Annuities: The cost of Woodmen Life’s annuity products can vary depending on factors such as the interest rate, the payout options, and the length of the annuity term. Annuities can require a significant upfront investment, but they can also provide a steady stream of income over a set period of time or for the rest of the annuitant’s life.
• Retirement planning: The cost of Woodmen Life’s retirement planning services can vary depending on factors such as the type of account, the amount of contributions, and the investment options. Some retirement planning services may require account maintenance fees or other charges, but Woodmen Life strives to keep its fees competitive and transparent.
• Other financial services: The cost of Woodmen Life’s other financial services, such as mutual funds and college savings plans, can vary depending on factors such as the investment options, the fees, and the account minimums. Woodmen Life aims to provide affordable and accessible financial services to its members, with a focus on transparency and customer service.

States Where Woodmen Life Insurance is Available

Woodmen Life is a fraternal benefit society and operates in 50 states and the District of Columbia in the United States. The company has a strong presence in the Midwest, where it was founded, but offers its insurance and financial products to individuals and families across the country. Here is a list of some of the major states where Woodmen Life is available:

• Texas: Woodmen Life has a significant presence in Texas, with many local lodges and representatives throughout the state.
• Nebraska: Woodmen Life was founded in Omaha, Nebraska in 1890, and still maintains its headquarters in the state. The organization has a strong presence in Nebraska, with many local lodges and representatives throughout the state.
• Colorado: Woodmen Life has a significant presence in Colorado, with many local lodges and representatives throughout the state.
• Illinois: Woodmen Life has a significant presence in Illinois, with many local lodges and representatives throughout the state.
• Indiana: Woodmen Life has a significant presence in Indiana, with many local lodges and representatives throughout the state.
• Iowa: Woodmen Life has a significant presence in Iowa, with many local lodges and representatives throughout the state.
• Kansas: Woodmen Life has a significant presence in Kansas, with many local lodges and representatives throughout the state.
• Missouri: Woodmen Life has a significant presence in Missouri, with many local lodges and representatives throughout the state.
• Ohio: Woodmen Life has a significant presence in Ohio, with many local lodges and representatives throughout the state.
• Oklahoma: Woodmen Life has a significant presence in Oklahoma, with many local lodges and representatives throughout the state.

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Discounts Offered by Woodmen Life Insurance

Woodmen Life offers a variety of discounts to help its members save money on their insurance premiums and financial products. Here is an overview of some of the discounts that are available:

• Multi-product discount: Woodmen Life offers a discount to members who have more than one insurance or financial product with the company. This can include life insurance, annuities, retirement planning, and other financial services.
• Safe driving discount: Woodmen Life offers a safe driving discount to members who have a good driving record and who complete a safe driving course. This discount can be applied to auto insurance premiums.
• Group discount: Woodmen Life offers group discounts to members who belong to certain organizations or groups, such as employers, unions, or alumni associations. These discounts can apply to a range of insurance and financial products.
• Early signing discount: Woodmen Life offers an early signing discount to members who sign up for certain insurance or financial products before a specific deadline. This can include life insurance, annuities, and retirement planning services.
• Health and wellness discount: Woodmen Life offers a health and wellness discount to members who participate in certain wellness programs or who meet specific health criteria. This discount can be applied to life insurance premiums.
• Good grades discount: Woodmen Life offers a good grades discount to student members who maintain a certain grade point average. This discount can be applied to auto insurance premiums.

Customer Reviews of Woodmen Life Insurance

Customer reviews of Woodmen Life are generally positive, with many customers praising the company’s commitment to its members and the quality of its insurance and financial products. Here is an overview of some of the strengths and weaknesses that customers have reported in their reviews:

Strengths:

• Excellent customer service: Many customers have reported that Woodmen Life provides excellent customer service, with representatives who are knowledgeable, friendly, and helpful.
• Competitive rates: Customers have also reported that Woodmen Life offers competitive rates on its insurance and financial products, making it an affordable option for many individuals and families.
• Strong financial stability: Woodmen Life has a strong financial stability rating from independent rating agencies, which can provide peace of mind to customers who are looking for a reliable and trustworthy insurance provider.
• Range of products: Woodmen Life offers a range of insurance and financial products, including life insurance, annuities, retirement planning, and other financial services, which can help customers meet their various financial needs.

Weaknesses:

• Limited availability: While Woodmen Life operates in all 50 states, some customers have reported difficulty finding a representative in their area or have expressed frustration with the company’s limited physical presence in certain regions.
• Long application process: Some customers have reported that the application process for Woodmen Life’s insurance and financial products can be lengthy and involved, requiring a significant amount of time and paperwork.
• Limited online resources: Some customers have also reported that Woodmen Life’s online resources and tools can be limited, making it more difficult to manage their accounts or access information about their policies.

Overall: Woodmen Life Insurance

Woodmen Life is a fraternal benefit society that offers a variety of insurance and financial products to its members. With a history dating back over 130 years, the company has a strong reputation for financial stability and reliability.

Woodmen Life offers a range of insurance products, including life insurance, annuities, and Medicare supplement insurance. The company also offers financial planning services, retirement planning, and other financial products.

Customers can receive discounts on their insurance premiums by bundling multiple products, maintaining safe driving records, participating in wellness programs, and more. Woodmen Life is available in most states and offers affordable rates for its insurance and financial products.

While some customers have suggested that Woodmen Life’s online services could be more robust, the company receives generally positive feedback from its members. Customers appreciate the company’s excellent customer service, affordability, and financial strength.