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Lafayette Life Insurance
About the Company
The Lafayette Life Insurance Company first went into business in December 1905 as a mutual company in Lafayette, Indiana. In 2000, the company reorganized as a Mutual Insurance Holding Company.
Lafayette operates in forty-eight states and the District of Columbia. In assets, Lafayette Life ranks among the top 25% of all U.S. life insurers. Lafayette Life remains headquartered in Lafayette, Indiana today.
Lafayette Life's mission statement is as follows: "To maintain The Lafayette Life as a financially sound, quality driven, growth oriented company, dedicated to exceeding its customers requirements for life insurance and related financial service and to distribute its products to well-defined U.S. market segments."
Term Life Insurance Products
Lafayette Life offers the following Term Life insurance products:
The One
- This is a yearly renewable plan.
- Death benefit coverage is provided until the age 85.
- This policy is renewable between the ages of 15 and 70.
- This policy offers low initial premiums.
- The premiums increase every year you renew your plan.
Level Term Life
- This policy is issued for terms of ten, fifteen, twenty, and thirty years.
- This program offers a level death benefit coverage for the term you select.
- Premiums are guaranteed not to increase for the first five years of your policy.
- Premiums may increase after the initial five years, but will never exceed the guaranteed maximum rate.
- The death benefit is level until the age 95.
- This policy offers the following benefits: waiver of premium disability, conversion extension option, Children's insurance rider, accelerated benefit rider.
- A one time re-entry is permitted.
- This policy is guaranteed to stay in place as long as the premiums are paid.
Lafayette Financial Ratings
A.M. Best: A++ (Superior)
Fitch Credit Ratings: AA+ (Very Strong)
Standard Poor's AA+ (Very Strong)
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