Cincinnati Life Insurance Company

Below you will find important information about Cincinnati Life Insurance Company.

  • Company history.
  • Types of life insurance policies they offer.
  • Underwriting requirements & classes.
  • Sample quotes for term life insurance.

About Cincinnati Life Insurance Company

cincinnati life insurance company logoThe Cincinnati life insurance company has been listed among the top US life insurance providers. They have a high Financial strength rating of A+ from A.M. Best and have been functioning as an independent provider of insurance policies since 1899. This is a wholly-owned subsidiary which was formed in 1988 and merged with the Life Insurance Company of Cincinnati.

According to policyholders, Cincinnati life insurance does have excellent customer service. This applies to current customers and not new customers. New customers have to work directly with an agent in the local area. If there are no agents in the local area it becomes decidedly more challenging to not only get quotes for life insurance policies for yourself and your family but to get the services you need.

Life Insurance Policy Options from Cincinnati Life

Cininnatti Life has several types of policies for consumers based on what you’re looking for. Below you will find a description of each life insurance policy.

Lifehorizons Termsetter and Termsetter ROP

Life insurance is a cost-effective way to handle financial responsibilities if you have a limited budget.  Cincinnati offer is flexible level term death benefits that come in guaranteed periods of 10 years, 15 years, 20 years, 25 years, and 30 years. The Termsetter ROP Policy has a level death benefit and is available in 20-year, 25-year, and 30-year increments but this one has a money back guarantee and you get your return of Premium if you outlive the term. This one also guarantees that the base premium will be returned to you as a refund rather than income, so you don’t get taxed on it.

Lifehorizons Simplicity Universal Life

Cincinnati gives you a universal life insurance policy with cash value accumulation. This has a flexible death benefit amount and flexible premium so that you can change the coverage you get based on your Changing Life circumstances. All the while you are building tax-deferred cash value through your policy. With this policy you get competitive rates, lots of extra features so that you can customize the coverage you are getting in the end, and guaranteed insurability through age 120.

Lifehorizons Lifesetter UL

With this permanent policy you get a permanent death benefit with a lower level premium and you get minimum cash accumulation. With this policy you are paying a level premium so that you are guaranteed coverage when you need it. There are flexible guaranteed periods so that you can meet all of your changing needs and you get a death benefit guaranteed until the age of 121.

Lifehorizons Guaranteed Whole Life

This whole life insurance policy is designed to protect you and your family, and it will never be canceled so long as you pay your premiums. This policy has many guarantees. You get a guarantee that your premiums will remain level and they will never increase so long as your policy remains in effect. You get a guaranteed cash value that accumulates on a tax-deferred basis. You get guaranteed insurability, so your classification never changes unless that is to your advantage. And you get guaranteed paid-up values which are stated up front for every policy year so that you know where you stand and if you need to stop paying your premiums.

This whole life insurance policy is designed for people who need to cover a state conservation, and need guaranteed liquidity to cover any estate settlement costs. It is good for people who have impaired risk such as increased health risks or occupational risk. It is also good for business continuation if you need to get guaranteed cash value for business purposes or if you want to increase your ability to give a larger charitable donation in the end. It is also great for conversion. Those who take out a Term Policy with the company and want to convert to a permanent plan can do so by converting to this guaranteed whole life insurance plan at affordable rates.

Underwriting Requirements

There are different requirements for underwriting classes contingent upon your age.

  • AMP: This is an amplified non-medical requirement. This means that the agent you work with will complete the medical questions on the application and a paramedical examiner will have to record your blood pressure, your pulse, your weight, and your height.
  • Blood:  This means a blood profile needs to be taken from a Cincinnati lab which will be valid for six months.
  • CXR:  This means a chest x-ray.
  • HOS:  this means a home office specimen, a urine sample that is collected by a paramedical service and sent to the Cincinnati Insurance laboratory for testing.
  • Mature assessment:  this is a series of questions and tests that are administered by a paramedical exam in order to supplement a physical exam and ascertain your mental aptitude.
  • MD Exam:  This is a full positions exam administered by a licensed doctor.
  • Non-medical exam:  This requires applicants to only answer medical questions with the agent. No other medical exam is required.
  • Paramed:  this is a paramedic exam by a paramedical service which will consist of blood pressure, urine specimens, height, weight, and pulse.
  • TIR: This is a telephone inspection report where they will be contacting you via phone to ask follow-up questions or telephone interview.

Below are the requirements from this list of underwriting possibilities based upon your age and how much coverage do you want to take out.

Age up to $99,999 between $100,000 and $250,000 between $250,001 and $500,000 between $500,001 and $3,000,000 between $3,000,001 and $500,000
18 through 40 non-medical no life application Amp

Blood

HOS

Amp

Blood

HOS

Paramed

Blood

HOS

TIR

Paramed

Blood

HOS

TIR

EKG

41 through 50 non-medical no life application Amp

Blood

HOS

Amp

Blood

HOS

Paramed

Blood

HOS

TIR

Paramed

Blood

HOS

TIR

EKG

51 through 60 non-medical no life application Amp

Blood

HOS

Amp

Blood

HOS

Paramed

Blood

HOS

TIR

Paramed

Blood

HOS

TIR

EKG

61 through 69 Paramed HOS no life application Paramed

Blood

HOS

Paramed

Blood

HOS

Paramed

Blood

HOS

TIR

EKG

Paramed

Blood

HOS

TIR

EKG

CXR

70 and older Paramed HOS no life application Paramed

Blood

HOS

EKG

Paramed

Blood

HOS

EKG

Paramed

Blood

HOS

TIR

EKG

Mature Assess

MD Exam

HOS

Blood

EKG

Mature Assess

TIR

CXR

Cincinnati Life Insurance Underwriting Classes

Cincinnati life insurance has six underwriting rate classes. These are used to identify the level of risk that you pose financially to the company and will play a direct role in what pricing you are offered.

There are four non-smoker classes and two smoker classes.

Non-Smokers

1. Preferred Plus and Super Select Plus

This is the best risk classification reserved for people who have abstained from all tobacco or nicotine products in the last 5 years and meet all other preferred plus criteria.

2. Preferred and Select Plus

This risk class is for applicants who have exceptionally good health and haven’t used any nicotine or tobacco products in the last 3 years and otherwise meet all requirements for the preferred health category.

3. Standard Plus and Select

This is for applicants who have good health and haven’t smoked cigarettes in the last year and for non-cigarette tobacco users in some situations.

4. Standard Non-Smoker and Ultra Standard

This includes non-cigarette tobacco users as well as non-tobacco users who otherwise fail to meet the preferred plus criteria health-wise.

Smokers

1. Preferred Smoker and Preferred Standard

This is available to any applicants who want at least $100,000 in coverage and who have smoked cigarettes within the last year but otherwise meet the criteria for the preferred category. Past smokers who are still dependent on some form of nicotine substitute could qualify.

2. Standard Smoker and Standard

This includes almost all applicants who have used tobacco products within the last year and any non-smokers who are still dependent on nicotine substitutes. Life insurance for smokers is often very expensive when compared with those who do not smoke.  Often times, 3-5 times more.

3. Celebratory cigar exception

Cincinnati life has Preferred plus and preferred consideration for applicants who otherwise meet all of the class-based criteria with the exception of having smoked celebratory cigars. This exception allows for no more than 6 cigars per year and you have to undergo a urine test which must be negative for nicotine.

Health Factors

Super Select Plus and preferred Plus Select Plus and preferred Select and standard plus
Tobacco no used within the last 5 years and urine negative for the celebratory cigar no use in the last 3 years and urine negative for any celebratory cigar no cigarette used within one year, some tobacco users can qualify
cholesterol total not greater than 240 and HDL ratio of 4.5 or less total not greater than 250 and HDL ratio of 5.0 or less total not greater than 280 and HDL ratio of 6.0 or less
blood pressure currently controlled and the average reading within the last 2 years does not exceed 135 / 85 through age 60 or 145 over 85 for those who are 61 or older currently controlled with the average reading over the last 2 years not to exceed 140 / 85 through 860 and 150 / 90 for those 61 or older currently controlled with the average reading in the last 2 years not to exceed 140/90 through age 60 and 150/90 for those 61 or older
personal history no cardiovascular disease or cancer history no cardiovascular disease or cancer history no ratable impairment or cancer history

Cincinnati Life Insurance Sample Quotes

Cincinnati has the following average rates for a Standard Health category, 40-year-old applicant for their No Physical Exam Rates – LifeHorizons Termsetter policy.

Death Benefit 10 Year Male 20 Year Male 30 Year Male 10 Year Female 20 YearFemale 30 YearFemale
$25,000 $9 $11 $14 $9 $10 $12
$50,000 $12 $15 $21 $11 $13 $17
$75,000 $15 $19 $28 $14 $16 $23

Non-acceptable risks

There are some non-acceptable risks categorized by the company. If you have any of these, they will deny you coverage:

  • Adult attention deficit hyperactivity disorder: Unstable work history, or combined with any other psychiatric conditions.
  • Asthma:  severe, admissions to hospitals because of your asthma within the last 2 years, and a persistent use of oral steroids.
  • Bankruptcy:  current bankruptcy or within 2 years of
  • Ulcerative colitis: Current
  • COPD: Intermediate stage where you have moderate changes in your pulmonary function test or late stages where you have shortness of breath trying to do ordinary things like climbing stairs. If you have had hospitalization as a result, you will not qualify.
  • Crohn’s disease:  current or within the last 5 years.
  • Depression:  if you have major depression or bipolar disorder diagnosed within the last 2 years, or if you are taking medication such as Xanax or Prozac.
  • Diabetes:  if you are under 30 and you have diabetes if you are under 36 and you were diagnosed with type 1 at age 16 or older, if you were diagnosed for the last 20 years with either type 1 or type 2 diabetes.
  • Drug or alcohol abuse:  current or treated within the last 5 years
  • Hepatitis:  all forms, current
  • Lasik eye procedures:  within the last year

Cincinnati Life Insurance Review – Takeaways

Overall, Cincinnati Life is but one of many life insurance companies.  They have a wide array of life insurance policies available, and some fairly competitive rates when compared to the competition. Depending on your situation and the coverage you need, they may be the right life insurance provider for you.

However, because of the massive number of life insurance options, it is best to compare them all before making a decision.  The best way to do this is to work with an independent life insurance agent who is not bound to working with just one company, but can help you compare policies and rates from dozens of the best life insurance companies on the market.

Give us a call today to speak with one of our agents about your life insurance options and needs. Or get started comparing life insurance rates online using our quick and easy life insurance quote tool.

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