2020 Cincinnati Life Insurance Company Review + Rates

Written by Rob Pinner

Cincinnati Life Insurance Company Review

Thanks for stopping to by to check out our in depth review of Cincinnati Life Insurance Company. We hope to give you more knowledge about the history of Cincinnati Life Insurance along with the products that they offer.

In this article we will be reviewing the life insurance products offered by Cincinnati Life Insurance Company.

History of Cincinnati Insurance Company

Four insurance agents founded Cincinnati Insurance Company in 1950. Since then, it has grown to to become one of the top 100 life insurance carriers in America.

Cincinnati Insurance Company has since restructured and is known as Cincinnati Financial Corporation or CinFin, while adding several subsidiaries.

Subsidiaries of Cincinnati Insurance Company

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates
  • Cincinnati Indemnity Company
  • Cincinnati Casualty Company
  • Cincinnati Life Insurance Company
  • Cincinnati Special Underwriters Insurance Company

Subsidiaries of Cincinnati Financial Corporation (CinFin)

  • CFC Investment Company
  • CSU Producer Resources Inc.
  • Cincinnati Global Underwriting Ltd.

CinFin has assets that are valued over $20 billion through a variety of financial services and property and casualty insurance.

The core business strategy of Cincinnati Insurance Company is the idea of a low cost, conservative investments. This combined with a strong relationship built with their network of independent insurance agents has been a winning combo.

Cincinnati Insurance Company uses a conservative method when approving clients which helps them maintain low operating costs. This allows them to offer more affordable rates compared to most other life insurance carriers.

Cincinnati Life Insurance Company is headquartered in Fairfield, OH, employing 3,200 associates, as well as 1,700 associates in other locations across the nation.

Cincinnati Life Insurance Company and its associates provide support to around 1,800 independent insurance agencies who have access to there full line of insurance products.

Cincinnati Life Insurance Ratings

Financial Ratings from companies like Moody’s or AM Best provide valuable insight into the stability of life insurance companies.

Most consumers depend on insurance carriers to pay claims. This is why it’s important to choose a financially stable company when selecting a policy.

Cincinnati Life Insurance Company boasts some the highest financial ratings in the industry.

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

As of July 2019, Best’s Review ranks:

  • Cincinnati Financial Corporation (CinFin) in the top 75 of North American Insurers based on 2018 assets and revenue
  • Cincinnati Insurance Companies No. 23 out of 200 U.S. property and casualty insurers based on 2018 net premiums written
  • Cincinnati Life Insurance Company No. 89 out of 200 U.S. life and health insurers based on admitted assets in 2018

Products offered by Cincinnati Life

Cincinnati Life Insurance Company offers a wide range of insurance products for consumers:

The Termsetter

Cincinnati Life offers affordable term insurance that provides temporary coverage for a set amount of years.

Termsetter is Cincinnati Life’s level term life insurance policy. Depending on your age, the Termsetter is available in lengths ranging from 10-30 years.

The premium is guaranteed for the duration of term period chosen. If you pass away during the term period, your beneficiaries will receive the tax free benefit.

However, if you outlive the term of the policy, you are able to convert to a permanent policy without going through another exam.

Check out the Termsetter policy specifications below:

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

The Termsetter ROP (Return of Premium)

Termsetter ROP comes with most features that the basic Termsetter policy has. The major difference is the Return of Premium feature that allows for all the premium paid into the policy at the end of the term period.

The Termsetter ROP is not offered in the 10 year of 15 year plans. It is only available in lengths of 20, 25, and 30 years.

Just like with Termsetter, you can also convert your ROP term plan when the term period expires. The Termsetter ROP is more suitable option for younger consumers based on price.

Cincinnati Life Insurance Company are one of the few life insurance companies that offer ROP Term products. If you like the ROP feature, don’t wait. There is a real possibility that these types of policies may not be around much longer.

Check out the Termsetter ROP policy specifications below:

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

Termsetter & Termsetter ROP Sample Rates

Preferred Male Non-Tobacco Rates- $250,000 Death Benefit

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

Heritage & Pivot UL

The Heritage and Pivot UL (universal life) is one of two universal life products that is offered by Cincinnati Life Insurance.

With the Heritage and Pivot UL policies, you are given flexibility to choose the amount of insurance that fits your needs.

The Heritage UL is for clients that are 18 and above, while the Pivot UL is for children under the age of 18. With the Heritage and Pivot UL, you can count on:

  • Competitive Rates
  • Flexible Premium and Death Benefit
  • Tax deferred cash value growth
  • Customizable with various riders to meet your needs
  • 5 Year No Lapse Guarantee
  • Minimum Guaranteed Interest Rate of 3%

Check out the Heritage & Pivot UL policy specifications below:

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

The Lifesetter Flex UL

The second universal life policy is called the Lifesetter Flex UL and was added in December of 2018 to the product line of Cincinnati Life Insurance Company.

The Lifesetter Flex UL is a guaranteed universal life insurance policy or GUL. This product focuses on providing a guaranteed premium for the life of the policy, rather than cash value accumulation, like most universal life.

The Lifesetter Flex UL guarantees the premium as long as you pay the payment each time. You are protected from rising cost of insurance or falling interest rates.

You can customize your guarantee period up to age 121. This means if you only want to guarantee the premium to age 95, you could, and it would cost less than guaranteeing to age 120.

You can also customize your payments with Lifesetter Flex UL. You have the option of level premium payments, limited payments, or single payment.

The Lifesetter Flex is a great alternative to term life insurance. It will be a little more expensive than term, but you have the coverage forever.

Check out the Lifesetter Flex policy specifications below:

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

Guaranteed Whole Life

Cincinnati Guaranteed Whole Life is a permanent policy with protection for life. Guaranteed Whole Life comes with many guarantees:

  • Guaranteed Fixed Premium
  • Guaranteed Cash Value Accumulation
  • Guaranteed Death Benefit

Along with the guarantees it also has many features, such as:

  • Issue ages 0-85
  • $10,000 Minimum Coverage
  • Multiple payment options
  • Customizable policy riders

The Guaranteed Whole Life Insurance is non-participating (no dividends), but does offer a regular scheduled cash value accumulation. This plan comes with four different payment options:

  • Level Pay
  • 10 Pay
  • Single Pay
  • Paid Up at 65

It’s important to understand that Guaranteed Whole Life offered by Cincinnati Life Insurance is not guaranteed acceptance. Underwriting is involved and in most cases and exam is required.

Check out the Guaranteed Whole Life policy specifications below:

Cincinnati Financial Corporation 2020 Cincinnati Life Insurance Company Review + Rates

Portfolio Deferred Annuities

Cincinnati Life Insurance Company offers two annuities, Portfolio Single Premium Deferred Annuity and Portfolio Flexible Premium Deferred Annuity, which allows a safe, conservative way to save for retirement.

They come with zero sales charges, loads, fees, or admin. costs, so 100% of your money is invested and earns interest immediately.

Portfolio Deferred Annuities offer guaranteed:

  • Minimum interest rate for the life of the contract
  • Current interest rate for the first full contract year
  • Return of premium feature to protect the principal in your contract

The Portfolio SPDA and Portfolio FPDA also allow you to tailor your income with four available payment options. This should relieve any concerns of you outliving your savings.

Cincinnati Life Insurance Underwriting Strengths

Cincinnati Life Insurance company uses traditional underwriting classes the most companies utilize. With that said, Cincinnati Life has a reputation of being on the conservative side when it comes to underwriting.

In other words, they like healthy consumers. One niche that they are favorable in is for tobacco chewers, pipe smokers, and occasional cigar use.

Most companies would classify you as a tobacco user and charge tobacco rates, Cincinnati Life will consider you at non-tobacco rates, even with a positive nicotine test.

Occasional cigar use, fewer than six per year, could qualify for preferred plus rates with negative urine test and admitted use.

Final Thoughts

Cincinnati Life Insurance Company offers very competitive products to its consumers. They are highly rated and provide excellent customer service.

With that said, it’s important to compare multiple companies before buying. We are independent life insurance agents that can help you find the best company that fits your specific needs.

Is Cincinnati Insurance Company a good company?

Cincinnati Financial Corporation (CinFin) in the top 75 of North American Insurers based on 2018 assets and revenue

Cincinnati Insurance Companies No. 23 out of 200 U.S. property and casualty insurers based on 2018 net premiums written

Cincinnati Life Insurance Company No. 89 out of 200 U.S. life and health insurers based on admitted assets in 2018

When was Cincinnati Insurance Company formed?

Four insurance agents founded Cincinnati Insurance Company in 1950. Since then, it has grown to to become one of the top 100 life insurance carriers in America.

What type of life insurance products does Cincinnati Life offer?

-Term Life
-Return of Premium Term Life
-Universal Life
-Guaranteed Universal Life
-Whole Life
-Annuities

Rob Pinner
Rob Pinner

My name is Rob Pinner and I own EasyQuotes4You. At EasyQuotes4You we aim to make your life insurance buying process a smooth and stress free transaction.  We are independent life insurance agents servicing all 50 states. I have over 15 years of experience and have focused solely on life insurance for the past 5 years. If you have any questions or comments please don’t hesitate to give us a call.

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