Affordable Sears Life Insurance Review
Many Sears citizens are looking for ways to cut expenses. One area you shouldn’t skimp on is life insurance. A reliable life insurance policy will protect your family’s future, so it is important. To find an affordable life insurance provider in Sears.
Do not worry! We offer access to the lowest life insurance rates in Sears from the most reliable providers. Call us now for more information or fill out the form above to get an online life insurance quote.
Sears Life Insurance Review
Sears Life Insurance Company is a corporation that was incorporated on 1956-05-04. Sears Life Insurance Company is a life insurance company with assets of $ 73,664,364. Capital of $ 2,500,000 and a net surplus of $ 48,668,548.
Life Insurance Company President is Dava Sherill Carson, Treasurer is Paula Dee Larkin, and Secretary is Gregg Henry Lehman.
Sears Life Insurance Company is located in Fort Worth. TX and the Sears Life Insurance Company claims, customer and service telephone number.
If you already have insurance quotes from Sears Life Insurance Company, be sure to compare your Sears Life Insurance Company. Insurance plans with quotes from many other insurance companies so you can find the best insurance plan for your needs. Enter your zip code to get free insurance quotes now!
Sears Cancels Retiree Life Insurance
Retired Sears employees went blind in March when the company abruptly canceled its life insurance benefits.
These were some of the last benefits left for Sears retirees, said Ron Olbrysh. Resident of the National Association of Retired Sears Employees. NARSE had struggled to protect the benefits of some 90,000 retirees. As Sears fell into bankruptcy and declined for the past 20 years. Olbrysh did not have exact numbers on how many are losing life insurance.
For many, the policies provided by Sears were their only life insurance. They generally offered a benefit between $ 8,000 and $ 10,000, Olbrysh said.
“It is not a huge amount, but it is still a benefit for retirees,” he said.
Sears paid $ 16.6 million in premiums in 2017, according to Olbrysh. Sears’ attorneys did not respond to a request for comment.
The company has given retirees the option of turning policies into lifelong private policies. But their premiums are not affordable, Olbrysh said. An 81-year-old NARSE member said he would pay more than $ 3,000. A year in premiums for such a policy, Olbrysh said.
“That is not competitive at all,” he said.
Convert your current Sears policy
If you still need coverage, you can convert your existing policy into a more expensive whole life policy.
A conversion option allows Sears retirees to convert their policy into a full life insurance policy. Regardless of their health status, provided they submit their application within the allotted time frame.
A complete sears life insurance policy provides lifetime coverage with payments that are much higher than group term rates.
When you convert group life insurance into a personal policy. The biggest advantage is the ability to convert without doing a medical exam.
This is really great for people who need life insurance but cannot get a policy due to serious medical problems.
NOTICE – TERMINATION OF THE RETIRED GROUP’S LIFE INSURANCE PLAN
Sears Holdings Corporation is terminating the Sears Retiree Group Life Insurance Plan (the “Plan”). Which provides life insurance benefits to eligible Sears retirees and their affiliates. Termination will take effect on March 15, 2019. Plan benefits are currently provided under group insurance policies issued to Sears by Securian Financial Group. And Allstate Life Insurance Company, which are being terminated.
Securian has informed us that they will have the opportunity to convert their coverage into individual life insurance policies. In force as of March 15, 2019, at their own cost. In the next few days you will receive information from Securian about your conversion option. And the cost of this coverage.