Progressive Life Insurance is committed to creating access to innovative, personalized term life insurance options so people of all walks of life can feel confident and secure about their loved ones’ financial future. Progressive Life helps you protect the financial future of your loved ones with term life insurance policies personalized to you.**
Progressive Life Insurance Company is ideal for people who are looking for a hassle-free way to obtain term life insurance coverage. It offers a 100% online application. That means you can get a free quote plus complete your application entirely on the company’s website.
Progressive is also a great option for people who anticipate significant life changes or events—such as getting married or starting a family—and who want the ability to adjust their coverage accordingly. With its Flexible Term Life Insurance plan, you can increase or decrease your coverage in the first 10 years of signing up without having to apply again or buy a completely new policy.
All you have to do is go to the company’s online portal, submit a request to change your coverage, and provide proof of your life event, e.g., a marriage certificate. You won’t have to undergo any medical exam or test. Progressive will process your request and then send you an updated policy form with revised coverage amounts and monthly premiums.
Progressive Life Insurance Company specializes in term life insurance. This is a policy type that offers protection for a specific length of time. Coverage ceases when the term ends or if you stop making payments.
Progressive currently offers policies with term lengths spanning 10-30 years. Coverage amounts range from $50,000 to $1,000,000. If you pass away while your policy is active, your beneficiaries—such as your spouse or children—will receive a payment from the company.
The carrier lets you add up to 6 primary beneficiaries and 6 contingent ones for a total of 12. A primary beneficiary is the individual who receives payment of the benefit if you pass away while the policy is active. A contingent beneficiary is a backup to the primary beneficiary and will get the payment if anything happens to the latter while your policy is still in effect.
Progressive charges an annual policy fee of $96 for 10-20-year term lengths ($8 a month) and $72 for 30-year term lengths ($6 a month).
Other notable features of Progressive’s term life insurance policies are:
Progressive offers two primary policy types: Flexible Term Life and Standard Time Life Insurance.
This policy type has a set term length. However, you can adjust your coverage in the first 10 years of the policy if your life circumstances change or certain events occur. The following are the key features of the Flexible Term Life Insurance policy from Progressive:
This policy has a set term length plus coverage amount. You cannot increase the coverage amount or alter your term length unless you apply for an underwritten increase. The latter requires you to provide updated health information to the Progressive Life Insurance Company. Alternatively, you can cancel your policy and buy a new one.
Here are the main features of the Standard Term Life policy:
Progressive term life insurance is available to American citizens and permanent residents of the following 8 states: Arizona, Indiana, Ohio, Missouri, Virginia, Louisiana, Pennsylvania, and Michigan. The signup process begins with you requesting a free quote.
Here are the steps to follow:
1.Click the “Get a quote” button on the company website.
2.Select your quoting style, i.e., “Quick and simple” or “Guided and detailed.”
3.Provide the required information.
4.After you get your quote, click “Continue” to complete your application.
The whole process takes 15-20 minutes to complete and is relatively straightforward. You’ll need to provide a copy of your driver’s license as part of the application, so make sure to have it on hand
Progressive is highly regarded in terms of financial stability and ability to meet its financial obligations, as indicated by strong ratings from third-party agencies. Specifically, it boasts an A+ rating from A.M. Best, an AA rating from S&P Global Ratings, and an Aa rating from Moody’s Investors Services.
In terms of information security, Progressive implements strict access controls and employs various electronic and physical safeguards. For example, the company uses SSL (Secure Sockets Layer) technology on its website to ensure that hackers and other criminals can’t see or steal any personal or financial information you provide.
What’s more, Progressive has a comprehensive privacy policy on its website that details how the company collects, stores, and uses your personal information
Finally, you can cancel your insurance policy at any time and for any reason. If you do it within the first 30 days of enrollment, the company will deem the policy void from the beginning and will refund any premiums paid. However, if you do so after 30 days, Progressive will cancel the policy as of your next billing cycle’s payment due date.
Progressive Life Insurance Company provides customer service via multiple channels, including phone, email, and live chat. Its support team is available 8am-5pm ET, Monday through Friday.
You can also schedule a one-on-one consultation with an agent to explore your options and receive a personalized quote. This service is available 9am-3pm ET, Monday through Friday.
A thorough FAQ section that answers a variety of questions regarding its policies, coverage options, and application process is also available on its website.
Beneficiaries can file a claim by sending an email to claims@progressivelife.com . The claim should include the following information: policy owner’s name, date of birth, address, beneficiary name, and phone number (of the beneficiary).
Progressive Life Insurance Company is a solid term life insurance option for people who value adaptability and online convenience. The highlights of its service are its 100% online application process and the ability to easily adjust coverage in response to life changes.
Progressive also offers a variety of term lengths and coverage amounts to cater to different needs and circumstances. With this provider, you don’t need to undergo a medical exam or test when applying for coverage. If you run into any problems or have a query, customer support is readily available via multiple channels, five days a week.
800 W. St. Clair Ste 200 Cleveland, OH 44113.
* Progressive Life Insurance's Flexible policy is a term life policy that allows the insured to request an increase in the coverage amount within the first 10 years of the policy for the following covered life events: entering into a marriage, civil union, or domestic partnership, getting a divorce or dissolving a marriage, domestic partnership, or civil union, adding a child to your family through birth, adoption or marriage, or purchasing a home that will be used as your primary residence. The coverage amount increase must be at least $25,000 and may increase, in $1,000 increments, up to $200,000 per covered life event, and is subject to overall policy and company limitations. Coverage amount increase requests require proof of the qualifying life event but do not require a new application, medical exams or testing, or a new medical questionnaire. With the health status freeze feature, the new increased coverage amount will be rated at the age and health status of the insured at the time of the initial policy application. Coverage amount decrease requests are subject to Progressive Life's minimum coverage amount.
^ Eligibility for Progressive Life Insurance depends on age, health, and additional underwriting factors. The exact policy type, coverage amount, and term length offered will vary.
**Eligibility for Progressive Life Insurance depends on age, health, and additional underwriting factors. The exact policy type, coverage amount, and term length offered will vary.