Alfa Life Insurance Corp.

Alfa Life Insurance Corp. provides short-term, long-term, and universal life insurance policies. Additionally, Alfa Life offers annuities, and assists in estate and business planning. It currently has more than 1 million insurance policies in force, in 13 states across America. Alfa Life offers a term life policy, which is a low-cost option for growing families. This plan is a temporary solution, set to last between 10 to 30 years. The minimum policy amount for term life is $50,000. It's available to people between the ages of 0 to 70 years old. It can be renewed until the age 100. Rates increase depending on age at time of renewal.

The second type of insurance policy Alfa Life offers is permanent life. Permanent life differentiates itself by providing a solution called "accelerated death benefit." Accelerated death benefit releases partial payment for those suffering from terminal illness. Within permanent life, a customer can choose between Interest Sensitive Whole Life and Ordinary Life. Interest Sensitive Whole Life provides coverage for $10,000 and up, and for those between the ages of 0 to 75. Ordinary Life is purchased for $5,000 to $10,000 and is primarily used for burial costs. Ordinary Life is issued to those aged 15 to 80.

Universal life offers a premium and death benefit that can vary, depending on life circumstances. It's purchased at $25,000 and up. Annuities offered are Single Premium and Flexible Premium. Single Premium offers between $5,000 to $500,000 in benefits. Flexible Premium is between $600 to $500,000.

History Of Alfa Life Insurance Corp.

Alfa Life Insurance corporation was created in 1946 as an issuer of fire insurance to local Alabama farmers. This is also the year it began its long-standing association with Alabama Farmers Federation.

Ratings

Alfa Life Insurance received an A+ (Superior) from A.M. Best.