Life of the South Insurance Company Review

In this article...
  • Find out about life insurance offered by Life of the South and whether it's right for you. Read about the company's history and what others are saying.

Life of the South is one of the largest providers of credit life insurance in the United States. Keep reading to find out if a Life of the South insurance policy is a good fit for your needs. 

About Life of the South Insurance Company

Life of the South Insurance Company, also known as Life of the South, began in the 1970s and became one of the largest credit insurance companies in the United States. The company changed its name to Fortegra in 2008, with Life of the South becoming a subsidiary company. 

Fortegra now offers a variety of insurance and financial services, with headquarters in Jacksonville, Florida. AM Best gives Fortegra a Financial Strength Rating of A- (Excellent). Life of the South is one of Fortegra's six insurance underwriting subsidiaries. 

What Life Insurance Products Does Life of the South Insurance Company Offer? 

Life of the South offers credit life insurance. The company also provides credit accident and health insurance. These types of policies can pay off outstanding debts like mortgages if an insured borrower dies or becomes unable to pay debts due to an injury or illness. Other Fortegra subsidiaries offer different types of life insurance policies. 

Credit life insurance policies can protect a borrower's: 

  • Co-signers 
  • Spouse in community property states 
  • Heirs if the estate would be liable for a debt
  • Business partners

Although debt is not usually inherited, credit life insurance can be useful in many circumstances. For example, these policies can help protect a family home if the breadwinner dies. In some cases, a lender may require or purchase these policies to protect their investment. 

The Pros and Cons of Life of the South Insurance

There are several benefits to a policy from Life of the South. As a subsidiary of Fortegra, the company has an excellent financial rating and significant assets backing up its policies. Credit life insurance policies often don't require medical exams or extensive applications, making them an easy way to protect a family home and loved ones. 

On the other hand, there are some cons to Life of the South Insurance. The company only offers credit life insurance. For different types of life insurance, consumers may need to look elsewhere. While credit life insurance may be the best option for some consumers, those in good health who wish to protect their family's general finances may want to consider another type of insurance, like whole or term life.

Life of the South Insurance Company Review

Fortegra is a well-established company with various products that help people fill gaps in other insurance coverage. Employees are friendly and report being happy with their jobs. However, some people have said that getting claims paid quickly after a loved one passes away can be difficult. 

Is a Life of the South Insurance Policy Right for You? 

If you have a single loan or specific concern about how debt will be paid if you die, a credit life insurance policy from Life of the South may be right for you. A credit life insurance policy may be the best option in specific circumstances. For example, credit life insurance may be a great choice if you wish to ensure your family can keep a home or vehicle after you die, but you don't want to undergo a medical exam.

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