Manhattan Life Insurance Review (2024)
The Manhattan Life Insurance Company has been around since 1850. Currently, they offer a variety of insurance options including term life insurance and whole life insurance. Manhattan life insurance rates are only available by contacting an agent. They do offer no medical exam life insurance, and if you are willing to go through the entire underwriting process you can get coverage from the Manhattan Life Insurance Company (doing business as ManhattanLife) for up to $3 million.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- The Manhattan Life Insurance Company has been doing business since 1850.
- In recent years, the company’s life insurance products have been sold under the name ManhattanLife.
- You will need to contact an agent to get a quote from the Manhattan Life Insurance Company.
- The company offers whole life and term life insurance with benefits as high as $3 million.
Manhattan Life Insurance Company started in 1850, making it one of the oldest and most well-established life insurance providers in the U.S. Recently, the company has been offering its life insurance products under the brand name ManhattanLife.
Manhattan offers term life insurance quotes as well as whole life insurance rates. Our comprehensive guide will help you find Manhattan Life Insurance quotes and explain other details about the company.
If you want to see if ManhattanLife is available in your area, enter your ZIP code to compare multiple companies. You may find a company with better life insurance rates.
Table of Contents
What is the history of Manhattan Life Insurance Company?
Manhattan Life Insurance Company is one of the oldest life insurance companies in America. Founded in 1850 by an insurance agent, the company became well known for finding and paying out benefits in highly unusual situations.
In the wake of the civil war, Manhattan Life Insurance agents located and paid benefits to confederate beneficiaries. After World War I, similar efforts were made, and the company refunded the wartime increase in premiums to policyholders.
In 1953, the company was praised on the Voice of America for successfully finding a beneficiary in Hong Kong to pay a policy benefit.
More recently, Manhattan Life began to operate as ManhattanLife in 2019. In 2020, the company purchased Standard Life and Casualty Insurance Company to further its plans to expand nationally. Notably, although Manhattan Life was founded in New York City, it is now headquartered in Houston.
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How much money did Manhattan Life Insurance Company earn last year?
According to Dun & Bradstreet, the Manhattan Life Insurance Company generated $36.68 in profits in 2020, which is lower than the previous year. The downturn in business during the COVID-19 outbreak is no surprise, and it’s likely that Manhattan Life Insurance Company will rebound in 2021 or 2022 depending on the continued impacts of the pandemic.
Manhattan Life Insurance Rates
Like most small companies, you can only get life insurance rates through the company’s agents or customer service representatives. Although the Manhattan Life Insurance company has ambitions to extend its reach, currently the company is too small to make rates available except through direct contact with agents.
If you want an idea of what average variable life insurance rates are before getting a quote from Manhattan Life, take a look at the table below.
Average Monthly Variable Life Insurance Rates by Gender| Age Group | Monthly Variable Life Insurance Rates for Female Policyholders | Monthly Variable Life Insurance Rates for Male Policyholders |
|---|---|---|
| 25 - 35 | $78 - $120 | $100 - $140 |
| 35 - 45 | $120 - $201 | $140 - $221 |
| 45 - 55 | $201 - $340 | $221 - $364 |
| 55 - 65 | $340 - $571 | $364 - $659 |
Remember that this is just an industry average, however. Your age and gender are only two factors that companies like Manhattan Life Insurance Company use to determine your rates.
What coverages are available at Manhattan Life Insurance Company?
Manhattan offers a variety of insurance products. Term life insurance offerings can be as high as $250,000 while whole life insurance for up to $100,000 is available without underwriting. Fully underwritten policies can be for higher amounts, up to $3 million for whole life policies.
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Manhattan Life Insurance Review: Financial Strength and Credit Risk Ratings
Manhattan Life Insurance Company (ManhattanLife Assurance) has acquired an A.M. Best rating and a customer grade from the Better Business Bureau. Let’s go through both grades in the subsections below.
A.M. Best
The most reliable grade a company can get is through A.M. Best. However, companies must participate in A.M. Best ratings to receive a grade. The Manhattan Life Insurance Company received a “B+” from A.M. Best.
A “B+” with A.M. Best means the company has a stable financial outlook, and the company has a projected good ability to follow through to satisfy customers.
Better Business Bureau (BBB)
The BBB shows us how companies correspond to customers. Though The Manhattan Life Insurance company has an A+ rating from the BBB, it also has around a one-out-of-five star rating based on customer complaints. The company gets about 12 complaints a year on the BBB site, with 12 in the last twelve months and 39 in the past three years.
Many consumers use the BBB to verify whether a company is legitimate, but it’s essential to look at other reviews to ensure that you make the right decision when buying life insurance.
Manhattan Life Insurance Company: The Bottom Line
Manhattan Life Insurance company is one of the oldest and most stable life insurance providers in the country. Though it is not a large company, it has a track record of nearly two centuries of making sure policyholders are treated right.
For the best life insurance companies, you’ll need to shop around for the most affordable life insurance rates, and you may find that Manhattan Life Insurance Company is the best choice for you.
Ready to buy life insurance? Start shopping around for reliable life insurance by entering your ZIP code into the FREE comparison tool below.
Your one-stop online guide for life insurance quotes. Get free quotes now!
Secured with SHA-256 Encryption
Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.