Are you trying to find affordable life insurance coverage for your family? If you are researching life insurance companies and live in New York, you really need to become familiar with the William Penn Life Insurance Company.

Affordable Life USA has represented the William Penn Life Insurance Company of New York for over 25 years.

Our William Penn Life Insurance review will help you decide if you should consider the company for your families life insurance coverage.

During our William Penn Life Insurance review, we will cover:

Details about the William Penn Life Insurance Company A review of both William Penn term and universal life insurance products Competitive underwriting advantages in the marketplace Learn about Appcelerate, which is a unique no-exam life insurance process How Affordable Life U S A can help you obtain a great policy

About the William Penn Life Insurance Company

William Penn was formed in 1949, under the name of Government Employees Life Insurance Company, also having a well known sister company known as GEICO.

Legal & General Group in 1981 took ownership of GEICO adopting the name Banner Life.

Since, New York has different life insurance regulations; you will find Banner Life operating under the name of William Penn Life in New York.

Currently, Banner William Penn has more than $400 billion of in force life insurance policies. Their assets are invested mostly in AAA corporate and government bonds making the company financially solvent to pay claims.

Legal and General headquartered in London, is still the parent company of William Penn Life Insurance Co. of New York. Legal & General currently operates in North America, Europe, and Asia and manages over $746 billion in assets.

William Penn Life Insurance has been the company’s New York branch for 26 years. Products that are offered by William Penn, however, are provided only in the state of New York.

The products that are offered by William Penn are underwritten by the Banner Life Insurance Company.

William Penn Life Insurance Rating

The financial ratings of an insurance company is very important to us when selecting a life insurance carrier for our clients.

After all, there is nothing more important than a life insurance company’s ability to pay claims to it’s policyholders.

We monitor the claims paying ability of life insurance companies by using a few different rating agencies.

What is the William Penn Life Insurance rating?

The ratings agency A.M. Best has conducted its annual William Penn Life Insurance review and has given them an A+ (SUPERIOR) rating.

Furthermore, the William Penn Insurance company ratings from Standard and Poor’s is AA- which is also considered very strong.

If you need a more detailed evaluation, here is more detailed look at William Penn Life Insurance ratings.

William Penn Life Insurance Products

William Penn Term Life Insurance

The William Penn Life Insurance Company of New York is known for offering some of the lowest prices on it’s term life insurance product.

Term Life Insurance offers guaranteed death benefits and level premiums for a specific period of time.

Term life insurance is an excellent choice for applicants looking to obtain the largest amount of insurance at the cheapest cost.

Term coverage can be tailored in duration to address needs such as protecting a mortgage, or protecting your income to your spouse.

William Penn term life insurance products offer guaranteed term lengths of 10, 15, 20, 25 and 30 years.

The OPTerm series is the actual product name for William Penn term life insurance products.

Press “Get A Free Quote“ for great prices on William Penn term life insurance!

William Penn Universal Life Insurance

Do you need life insurance coverage which lasts for your entire lifetime?

Great news!

William Penn Life also proudly offers universal life insurance products to New York residents.

Universal Life Insurance is a type of permanent policy where the excess of premium payments above the current cost of insurance are credited to the cash value of the policy.

Universal life insurance has a cash accumulation component which acts similar to a savings account with tax deferred growth along with lifetime coverage.

William Penn Life Insurance Co. of NY was one of first life insurance companies to offer Universal Life!

William Penn’s Step UL offers a guaranteed minimum death benefit for as long as payments are made.

So, the minimum required premium will never change and you can never lose your policy.

William Penn’s Step Up UL also allows a flexible premium schedule.

You can add additional premiums to the policy to help accelerate the cash value account or pay off the policy in a shorter period of time.

Not to mention, William Penn universal life coverage is less expensive than traditional whole life policies.

William Penn Riders and Conversion Options

You can add an assortment of different riders to both term and universal life polices. Here is a brief summary of the riders available:

Waiver of Premium – With this optional rider, if you become disabled and can not pay your premiums, the Waiver of Premium rider ensures your policy remains in force until you can resume making payments.

– With this optional rider, if you become disabled and can not pay your premiums, the Waiver of Premium rider ensures your policy remains in force until you can resume making payments. Accelerated Death Benefit –This is a free rider and if you are diagnosed as terminally ill, you can access a portion of your death benefit to help pay medical bills.

–This is a free rider and if you are diagnosed as terminally ill, you can access a portion of your death benefit to help pay medical bills. Children’s Rider – This is an optional rider, which covers all eligible children to the earlier of the child’s 25th birthday or the insured’s 65th birthday.

– This is an optional rider, which covers all eligible children to the earlier of the child’s 25th birthday or the insured’s 65th birthday. Policy Conversion – With convertible term life insurance

Do You Need William Penn Quotes?

No problem!

If you are looking into William Penn quotes for your family, a good place to start is with a $250,000 death benefit.

A price break is currently being offered on William Penn term life insurance for death benefits of $250,000 or more of coverage.

You can also easily compare life insurance quotes from many New York life insurance companies in minutes!