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Next, in our series of company reviews, we’ll take a hard look at Sentinel Security Life and emphasize their final expense insurance product.

Certainly, an insurance company’s ability to pay claims (keep their promise) should be a top priority when selecting a life insurer to do business with for a lifetime.

We certainly understand that monthly premiums must fit in your budget, however, knowing that your company will be there when you need is what provides the policyholder with the peace of mind knowing their surviving loved ones will not have to deal with the costs of your funeral and burial.

 

About Sentinel Security and Company History

 

Sentinel Security was formed by a concerned group of funeral directors seven decades ago. These funeral professionals were concerned that families in Utah would have to come out-of-pocket to pay funeral costs when a family member passed away.

In response to these concerns, this group of funeral directors created Sentinel Mutual Insurance Company to provide affordable life insurance for families in the state of Utah.

Over the years, the company name was changed on multiple occasions and the company added Medicare Supplement products and various annuities to their portfolio of products. The company also expanded its footprint from the state of Utah to an additional 32 states.

 

Financial Stability of Sentinel Security Life

 

The management at Sentinel Security has maintained that proof of the company’s financial stability is best illustrated with insurance ratings from A.M. Best, the most popular and well-known rating service in the U.S.

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A.M. Best has awarded Sentinel Security with a B++ rating which is only one step below the A rating that all insurance companies covet. The B++ rating indicates that Sentinel Security is financially sound as indicates that they are capable of paying ongoing operating expenses as well as claims from policyholders.

Sentinel Security’s rating of A+ with the Better Business Bureau indicates that management takes customer complaints seriously and they are committed to resolving customer complaints quickly and thoroughly.

 

Life Insurance Products from Sentinel Security Life

 

Although we previously mentioned that Security Sentinel offers Life Insurance, Medicare Supplement Insurance, and Annuities, here we will focus on Sentinel’s final expense and burial insurance and offer our review of the products.

New Vantage Life Insurance Plans

 

The product managers at Sentinel Security certainly understand that when you are marketing life insurance products to seniors, the company will need to accommodate seniors with medical issues as well as those seniors in good health. To accomplish this, Sentinel Security offers three distinct life insurance products: New Vantage I, New Vantage II, and New Vantage III. Although each type of policy differs in underwriting, they all contain similarities:

  • All 3 types of policies are designed using whole life insurance
  • All 3 policies are guaranteed for the lifetime of the insured as long as premiums are paid
  • Each policy has a guaranteed level premium that cannot be increased by the insurance company
  • All 3 kinds of policies will build cash value over time that can be accessed by the policyholder
  • The policies can be assigned to a funeral home if necessary
  • All policies come with a free final wishes guide for your beneficiary and family members

 

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New Vantage® I

The New Vantage® I plan is designed for applicants in good health. This plan has no waiting period so the full death benefit is available from the first day of coverage and the rates are the most affordable of all three plans.

 Here are actual rates for a $12,000 policy (average cost of a funeral) for a male and female non-smoker: 

Age of ApplicantMale Non-SmokerFemale Non-Smoker
50$32.67$27.07
55$40.71$31.72
60$50.31$39.95
65$63.98$50.31
70$83.31$63.14
75$116.31$91.01
80$175.88$129.36
85$242.69$192.41

 

New Vantage® II

Sentinel Security’s New Vantage® II product was designed for applicants who have minor health issues and do not qualify for the New Vantage I plan. The death benefit in New Vantage II is modified and will pay the beneficiary 30% of the death benefit if death occurs during the first year and will pay 70% of the death benefit if death occurs during the second year. The full death benefit is payable if death occurs in the third or subsequent years.

 Here are actual rates for a $12,000 Vantage II policy for a male and female non-smoker: 

Age of ApplicantMale Non-SmokerFemale Non-Smoker
50$45.04$42.90
55$59.69$50.32
60$77.54$60.21
65$100.14$75.61
70$131.04$101.79
75$196.93$160.48
80$281.26$228.31
85$390.91$346.90

 

New Vantage® III

The New Vantage® III plan was designed for applicants with severe or multiple health issues and cannot qualify for plan I or II. This plan does not take an applicant’s health into consideration in order to issue a policy. As such, the plan contains a modified death benefit where the insurance company will pay the sum of all payments made plus 10% if the insured dies during the first two years of coverage. The plan then pays the full death benefit for the third and subsequent years.

 Here are actual rates for a $12,000 New Vantage III life insurance policy for a male and female non-smoker: 

Age of ApplicantMale Non-SmokerFemale Non-Smoker
50$52.04$44.68
55$66.98$56.14
60$85.52$67.05
65$111.04$85.52
70$144.69$115.21
75$209.12$167.43
80$309.85$234.38
85$474.27$348.97

It’s important for consumers to understand that a life insurance plan you purchase must accommodate your circumstances and your budget. A plan that is a great choice for a neighbor may not be the best choice for you. This is why you should always contact an independent insurance professional who can rate your needs with multiple companies in order to provide you with the best solution and value based on your needs.

Remember, an independent insurance professional is not beholden to any one company and will typically represent all of the highly-rated carriers in the marketplace. They will always put you first.

 

In Conclusion

 

We remain pleased year after year that we have the ability to offer Sentinel Security Life Insurance products to our clients and prospective clients. They continue to be very competitive price wise and our clients report that their customer service is outstanding. Although Sentinel Security is an exceptional final expense and burial insurance provider, they may not be the best fit for you. Let’s talk about your circumstances to determine which insurance company will deliver the best solution for you.

 

Read more Company Reviews from BurialPolicy360

 

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We're Here To Help
For more information about Sentinel Security Life Insurance Company and to get a free and confidential quote, call the insurance experts at BurialPolicy360 at (800) 712-8519 during normal business hours, or contact us through our website at your earliest convenience.

 

 

Doug Mitchell Ogletree FinancialDoug Mitchell, President of Ogletree Financial, holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent over 20 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance, and home and auto insurance. For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life, he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a life insurance marketing organization with over 1000 life insurance agents. Today, Doug’s main focus is servicing 1000s of policyholders and growing his agency through the reach of several insurance-related websites.