UPDATED: April 3, 2022
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- Royal Neighbors was one of the first life insurance companies in America to issue life insurance to women and children, starting in 1895
- Today, Royal Neighbors is one of the largest women-led life insurance companies in the country
- The Royal Neighbors of America membership fee is $ 20 annually and includes a variety of discounts
Royal Neighbors has been in the business of providing protection and peace of mind for more than 120 years, leading the industry as the first company in the United States to offer insurance to both women and children.
Over the years, Royal Neighbors has grown and expanded exponentially and is today considered to have a solid financial foundation, offering all types of life insurance that extends from maturity, whole and universal life.
Continue reading for more information on what Royal Neighbors insurance offers and what is covered by their insurance. Are you ready to start comparing quotes in your area? Just enter your postcode in our free tool.
What does Royal Neighbor’s life insurance cover?
Royal Neighbors of America provides a few different types of life insurance policies that include longevity, whole life and universal life. They also provide annuities that can be purchased in line with their maturity.
Rules offered by Royal Neighbors:
- All Life and Youth All Life
- Single-Premium for life
- Simplified problem throughout life
- Term Life
A few of these products are packaged under term life, whole life and universal life. Let’s take a closer look at each of them.
Starting at $ 25,000 in coverage, Royal Neighbors’ entire life insurance offers permanent coverage as well as access to cash value with death benefits.
The essentials Whole Life insurance benefits include:
- Accelerated Death Benfits
- Fatal accident
- Guaranteed insurance
- Exemption for cancer and disability
Riders can also be added to get coverage if needed. But doing this will raise your insurance interest rates.
Youth Whole Life is an insurance offered to riders under 18 years of age. This includes guaranteed insurance for riders as well as compensation for quick deaths. Royal Neighbors also offers Royal Legacy Single Premium which includes applicants aged 45-80.
This policy requires a one-time payment of at least $ 10,000, with the death benefit guaranteeing a higher premium for payment.
Simplified Issue Whole Life is available for those between the ages of 50 and 85 and offers instant life insurance coverage ranging from $ 5,000 to $ 25,000. No medical examination is required and all expenses due to any outstanding medical bills or financial obligations will be covered.
Time life insurance
Through its JETerm coverage, Royal Neighbors provides a customizable option that comes with a level premium and death benefit, as well as the ability to add more riders with the option to later convert it to permanent coverage.
You also have the option of a guaranteed insurance rider that allows you to increase your insurance amount step by step without your premium increasing dramatically.
Universal life insurance
This is under their SecureLife policy and offers policyholders flexibility with their premiums and a changed payment schedule, depending on financial needs. There is also a 20-year guarantee that it does not expire.
The same equestrian benefits offered on the regular full life insurance are also available with this insurance.
In addition to life insurance cover, Royal Neighbors also offers pension annuities:
- Flexible premium deferred annuity. This allows you to make regular contributions to your account over time, with money growing up with taxes
- One-time premium deferred annuity. You can deposit a lump sum of money on this annuity and grow or compound it on a tax deferred basis. You can then withdraw the funds as an income stream at any time in the future.
- One-time immediate annuity premium. You can deposit only a lump sum, either from personal savings or from a pension account (such as an IRA or 401 (k) plan), and start earning income immediately.
These products provide a way to grow or put together your money in a tax-beneficial way. Make sure you have an income in the future that will last after your retirement, no matter how long it may be.
Membership with Royal Neighbors comes with other benefits:
- Dentist discounts of 5-50%
- Vision Discounts in the amount of 20-40% discount on the retail price of glasses
- Lab services 10-80% discount
- Free and discounted legal advice and services through a pre-qualified network
- Image discounts 10-60%
- Hearing aids with 30% discount
- Retail / e-commerce offers 1-40% discount at 4,000 leading retailers
You can also become a member of Royal Neighbors without buying any insurance. The membership fee is $ 20 / year.
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What is the average cost of coverage with Royal Neighbors?
The cost of coverage with Royal Neighbors will vary depending on your insurance, but here’s a brief look at the average cost of their insurance.
|Age||Price for a 20-year insurance|
As mentioned above, these rates can vary depending on how much coverage you need, as well as the type of insurance you decide on.
Unfortunately, Royal Neighbors does not offer much more information about the cost of their insurance.
Royal Neighbors Life Insurance reviews
Royal Neighbors of America has an A + rating from the Better Business Bureau (BBB), with only four complaints registered in the last three years and the AM Best rating A.
Royal Neighbors of America Life Insurance Review: The Bottom Line
Products and prices can vary with Royal Neighbors, depending on the type of coverage you need and the length of time you want your insurance to last. But their strong financial support with both BBB and AM Best gives them an advantage over the rest of the competition.
Their simple policies make the decision to buy life insurance so much easier, so you can focus on other things besides your life insurance.
Now that you’ve learned about Royal Neighbors of America life insurance, take the time to enter your zip code into our free tool and start saving on life insurance today.