Last Updated: August 17th, 2023
While life insurance can seem complicated, it’s an essential part of protecting your family financially if a tragedy were to happen.
Vantis Life seeks to simplify the life insurance process by offering basic products and an easy application.
If you’re considering purchasing a life insurance policy, check out this Vantis Life Insurance review to see if the company is right for you.
Vantis Life Insurance Co.
Vantis Life Insurance Company has been providing life insurance coverage to its clients since the early 1940s.
Over the past 80 years, Vantis Life has grown significantly and now services nearly $5 billion of in-force life insurance coverage.
In 2016, Penn Mutual acquired the company and Vantis Life became a wholly-owned affiliate of the Pennsylvania-based mutual life insurer.
Vantis policyholders understand precisely what they’re buying and can update their policy coverage in conjunction with life events.
An insurance company’s financial ratings represent whether or not the company will be able to pay a covered claim, which could be decades in the future.
Although finding life insurance at the lowest price is important, a low price will not matter if the carrier cannot keep its promise to pay your beneficiaries.
Vantis Life Insurance Company currently maintains an A+ rating with A.M. Best and an Aa3 with Moody’s.
The company also prides itself in supplying outstanding customer service, earning an A+ rating with the Better Business Bureau.
Life Insurance Products
Vantis has a specific focus on providing affordable life insurance products for hard-working individuals and families.
Like many top-rated national life insurers, Vantis offers a comprehensive selection of life insurance products to meet the needs of its clients.
Vantis Term Life Insurance
Vantis Life offers several traditional term life insurance options. You can select a face amount (death benefit) of $100,000 to $5 million with policy terms of 10, 15, 20, 25, or 30-years.
Super EZ Life
The company’s most simple and basic term policy is called Super EZ Life. It provides up to $300,000 in life insurance coverage for up to 20 years, and there is no medical exam required for applicants who qualify.
The premiums are level for the term selected, and policies will be issued to applicants up to age 60.
For individuals seeking more life insurance coverage or a longer term, the VantisTerm product would be a more appropriate option.
With VantisTerm, applicants have a choice of 10, 15, 20, 25, or 30-year terms and can apply for as much as $5 million in coverage. The policy can be converted to permanent insurance without having to worry about insurability issues in the future.
Unlike the Super EZ Life term product, VantisTerm does require a medical exam.
Return of Premium
The VantisTerm ROP policy is a level term product that offers insurance coverage for 20, 25, or 30 years and refunds all premiums paid in a lump sum tax-free refund if the policyholder outlives the policy term.
Vantis also offers a partial return of premium, which means the policyholder can get a portion of the paid premium back before the end of the policy’s term. This strategy is similar to surrendering for cash value and is a non-taxable event.
Vantis Permanent Life Insurance
To meet the needs of applicants who prefer permanent life insurance coverage, Vantis Life has various plans under its Permanent Life Insurance Coverage product line.
Straight Life is a conventional whole life insurance policy with level premiums for the life of the policyholder. Applicants up to 70 can be approved, and both premiums and death benefits are guaranteed to never change for the life of the policy.
Like all traditional whole life insurance products, this policy has a cash value account that grows on a deferred tax basis and can be accessed via policy loans.
20-pay Whole Life
The 20-pay whole life policy is just about identical to the Straight Life option, but the premiums are increased, which allows the policy to be totally paid up in 20 years.
This is an excellent option for applicants who prefer lifetime insurance coverage without lifetime payments.
Paid-Up at 65
The Paid-Up at 65 option allows the policyholder to pay the entire premium by age 65, which tends to complement most individuals’ retirement years.
Paying to age 65 frees up cash flow for policyholders and can actually be accomplished in as few as ten years.
Vantis Life EstateWise Single Premium Whole Life
Finally, Vantis Life’s EstateWise Single Premium Whole Life policy is designed specifically for applicants who choose to take advantage of funds they have now with a one-time payment towards a policy.
This will pass along tax-advantaged cash to their beneficiaries in the most effective way possible.
Vantis Guaranteed Golden Final Expense Insurance
If permanent life insurance coverage is your goal, but you want a lower face amount, the Guaranteed Golden serves as Vantis Life’s final expense policy.
Although the maximum death benefit is just $20,000, applicants can purchase final expense life insurance with no exam or medical questions.
The full death benefit is not available until after the first two policy years unless death results from a covered accident.
Other Products and Services
The insurance company also offers various annuity products that help clients and prospective clients establish realistic retirement planning goals.