Cincinnati Life Insurance Company Review
Below you will find a complete review of Cincinnati Life Insurance Company. You’ll learn about Cincinnati Life’s:
- Company history.
- Types of life insurance policies they offer.
- Underwriting requirements & classes.
- Sample quotes for term life insurance.
About Cincinnati Life Insurance Company
The 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
Cincinnati 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. AAA life insurance also offers a return of premium policy.
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 upfront 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 from Cincinnati Life
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 | $100,000 to $250,000 | $250,001 to $500,000 | $500,001 to $3,000,000 | $3,000,001 to $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 TIR EKG | Paramed Blood HOS TIR 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 Denies Coverage for Certain 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 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 |
Conclusion of Our Review of Cincinnati Life Insurance
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.
As principal licensed life insurance agent Bennett Bier has helped 1000’s of people purchase life insurance online & over the phone. During his career he has become the go to expert for securing hard to place term and permanent life insurance policies for clients across the nation. With his wealth of knowledge of each life insurance carrier’s products and underwriting he provides honest answers and advice to every client. Bennett Bier and his team will work tirelessly to successfully secure the coverage your family deserves.
All content on this site has been written by life insurance experts & licensed life insurance agents.