About William Penn Life Insurance
William Penn Life Insurance Company of New York’s history is nearly 40 years strong.
The company was chartered in 1962 and was acquired by Legal & General Group Plc as a wholly-owned subsidiary of Banner Life Insurance Company in 1989. Today they are one of the Legal & General America companies.
Since that time, management for both companies has been consolidated at the senior level. Banner Life’s national presence, William Penn’s four decades of agency experience and the operational synergy between both companies is a strong combination.
Today, William Penn’s individual life insurance and annuity products are sold in New York only, through independent insurance agencies like Accuquote.
William Penn Life Insurance Review
When people begin looking into life insurance, they have a tendency to start shopping around based on a specific company. In fact, one of the most common questions we receive is “Will William Penn Life Insurance have good rates and be a good financial choice for me?”
Many people are asking this question because they saw William Penn as one of the companies being advertised on TV and heard they had good reviews. While this is certainly true of William Penn, it can also be said for many other life insurance companies offering you coverage. Still, many people hold the presumption that a good review and a spot on TV late at night is evidence that they are a great company. The competitive prices they see only sweeten the deal for them.
Is William Penn a Good Choice for Term Life Insurance?
It doesn’t mean though, that they are necessarily better than the next provider, who might even give you a cheaper quote. It is always best to compare multiple quotes.
The reason we say
Compare William Penn to other Life Insurance Companies
In order to truly figure out which insurance provider will be the best choice for you, we’ll need to contact dozens of different providers individually. This is because every insurance provider has a different way of calculating and rating the level of risk they will take on by having you as a client.
For example, if a person has ever had a heart attack, this will be looked at very differently by different insurance companies.
Some companies will see this as an immediate red flag and will decide to either not provide coverage at all, or to provide coverage at very expensive premiums each month.
Alternatively, a different company will spend the time to figure out everything that’s behind the condition at hand. They will explore the root of the condition, as well as what has been done to treat it. If the condition has been treated and doesn’t show signs of returning, then they may not see it as a risk at all and will provide normal coverage, at normal rates.
As you can see, this is why it’s very important to contact as many insurance companies as possible before making any type of decision about which company you want to move forward with.
Where does William Penn fall in all of this?
Still wondering how William Penn performs?
There’s generally no correlation between how a company perceives one kind of risk and how it perceives another. It’s all a matter of contacting them and finding out how they will perceive a client on an individual basis.
It’s for that reason that we can’t say if William Penn Life Insurance is the best choice for you. We can say that for the clients who fit their profile, they are a great company to use. For those that don’t fit their profile, they’ll have better results looking somewhere else.
Use an Independent Agent to Compare William Penn to Other Carriers
Do you know how long it takes to contact all of the relevant life insurance companies to get the best possible rates?
A very long time. That’s even with our professional agents doing it full time. For someone like yourself, contacting these companies on your off time, it could easily take you a month or more.
It’s because of this that we recommend you work with an independent life insurance agent like us. Not only can we help you speed up the process of contacting all the life insurance companies, but we can get you a better rate than you could get on your own and help you understand all of your quotes.
It might work out that William Penn is the best life insurance option for you. It might work out that a different company has lower rates.
You’ll have the peace of mind though that you’re getting the best possible rates from the best company for you.
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.