Western Reserve Life
Western Reserve Life sells term, universal variable, and variable life insurance, plus fixed and variable annuity plans. Western Reserve was founded in 1957 in Cleveland, OH, and they sell through independent agents and brokers. Their parent company is AEGON USA Group. Read the Western Reserve life insurance reviews below to find out if this is the right life insurance company for you.
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UPDATED: Feb 20, 2021
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S&P rating: AA (very strong)Moody’s rating: Aa3 (excellent)Fitch rating: AA+ (very strong)
Company History: Founded 1957, Cleveland, OH. The company took its name from an area in northeast Ohio once known as the Western Reserve. In five years, Western Reserve Life operated in five states. In the 1960s, changing consumer needs altered the company’s products. The stock market and mutual funds became appealing; however, it was not affordable for traditional and various other investments. To rectify this issue, The Balanced Program was created. This allowed consumers to afford both term life insurance and the benefits of mutual funds.
Principle Sales Methods: Independent agents and brokers.
Life Annuity Business: Western Reserve Life sells Term, Universal Variable and Variable Life Insurance, plus Fixed and Variable Annuity plans.