Wilco Life Insurance Company Review
- Wilco Insurance Services is a life insurance agency. This Wilco life insurance company review can help you decide if it's the right agency for your needs.
Purchasing life insurance can be confusing, and some people prefer to work with a licensed agent to help them select the most suitable option. Wilco Insurance Services offers life insurance policies from a range of carriers, but it may not be a good fit for every customer. Let's explore Wilco's products, financial strength and reviews to help you decide if it's the right option for you.
About Wilco Life Insurance Company
Wilco is a Florida-based insurance agency that sells a variety of policy types, including auto, homeowners and life insurance. As an agency, Wilco sells policies on behalf of various carriers instead of selling its own life insurance products.
Unfortunately, there is scant information available online about the Wilco Life Insurance Company. However, it's a subsidiary of Wilton Re, a relatively well-established life (re)insurance company.
What Life Insurance Products Does Wilco Offer?
Wilco's corporate website doesn't provide details on the types of life insurance products it offers. It used to be a subsidiary of Conseco, which has since been renamed CNO Financial. According to CNO Financial's website, it provides the following policy types:
- Term life insurance
- Whole life insurance
- Universal life insurance
- Juvenile life insurance
However, whether Wilco offers the same product types as its former parent company is unclear. Therefore, the only way to learn more about Wilco life insurance is to contact the company directly using its online contact form or to phone Wilton Re at 844-877-6907.
Does Wilco Sell Affordable Life Insurance?
It's impossible to ascertain how much Wilco life insurance policies cost because the company website doesn't include typical premium rates. However, you can expect carriers to base your monthly premiums on various factors, including your age, sex and health status. Generally, life insurance is cheaper if you are young and have no serious health conditions. Factors such as risky hobbies or a dangerous occupation can make life insurance more expensive.
The type of life insurance you choose can also affect how much your policy costs per month. Generally, term life insurance policies are the most affordable because they only pay a death benefit during the term — usually up to 30 years from the start date. Meanwhile, permanent life insurance is usually the most expensive because it provides coverage throughout your entire life, provided you keep your premium payments up to date.
It's always worth comparing similar policies from several carriers to ensure you're getting the best deal possible. If you have a quote from Wilco, consider seeking quotes from a few other companies to find out if Wilco is the most affordable option.
Wilco Life Insurance Company Reviews
It's relatively difficult to find reliable online customer reviews for Wilco Life Insurance Company, and the testimonials section on the company website is currently empty. However, the company has 4.8 stars out of a possible five on its Facebook page, although it's worth noting that this score comes from a relatively small pool of reviews.
Generally, customers praise Wilco's caring customer service and say the representatives helped them compare several quotes to find the most affordable coverage. Some reviewers also mention that the customer service team thoroughly explained their policies to ensure they understood the fine print. The only negative review expresses confusion about the company's ownership following its various name changes and acquisitions.
Is Wilco Life Insurance Company Financially Stable?
Wilco doesn't have a Better Business Bureau (BBB) rating as it isn't an accredited company and doesn't hold an AM Best rating. However, Wilton Re has a BBB rating of A+, which is the highest possible rating. An A+ score suggests that Wilco's parent company receives relatively few complaints and resolves any disputes promptly and appropriately.
In 2021, AM Best assigned subsidiaries of Wilton Re an A+ rating for financial strength. This high score reflects the company's excellent risk management and operating practices, suggesting that Wilco is a relatively trustworthy and stable institution.
Is a Wilco Life Insurance Policy Right for Me?
Purchasing life insurance through Wilco could be suitable for you if you prefer to talk through your options with a professional agent. However, it's unlikely to be a good fit if you prefer to research options online because it doesn't provide transparent information on its company website. Overall, a notable lack of online policy information will be a significant drawback for many customers.