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Physicians Mutual Insurance

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LAST UPDATED: September 28th, 2020

Physicians Mutual stands out from other health insurers because it doesn't offer major medical insurance or short-term health plans. Its only offerings are Medigap and cancer insurance. If you are interested in either of these two policies, you may find working with Physicians Mutual beneficial.

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The Good

  • Medigap Insurance
  • Cancer Insurance

Medigap Insurance

Physicians Mutual offers Medigap, or Medicare supplement, policies to Medicare beneficiaries with Original Medicare (Part A and Part B). 

From the website, it isn't clear what kinds of Medigap policies the company offers. Medigap policies from Physicians Mutual are not available in every state. 

States have different rules about which Medicare supplement insurance policies can be issued, so it's not surprising that the company doesn't offer Medigap in each state. However, it would be nice to have more upfront information on the types of Medigap policies available through Physicians Mutual before submitting contact information to view options.

Cancer Insurance

Physcian's Mutual also offers cancer insurance that can be used to supplement major medical health insurance plans. These plans have cash payouts that can be used as you see fit, including to help with out-of-pocket expenses related to cancer treatment.


The Bad

  • No Major Medical Coverage
  • Offerings Not Available Everywhere
  • Outdated Financial Strength Ratings
  • Limited Customer Insight

No Major Medical Coverage

Physicians Mutual does not offer major medical coverage or short-term health insurance. If you're looking for a health plan beyond Medigap or cancer insurance, you'll need to consider another insurer.

Offerings Not Available Everywhere

The health insurance options Physicians Mutual does offer may not be available in your area. You'll need to contact Physicians Mutual directly to learn more about what it offers where you live.

Outdated Financial Strength Ratings

Physicians Mutual lists its financial strength ratings from 2017. Its 2017 ratings were high, which is a good sign for an insurer. However, many insurers are rated annually. Physicians Mutual's outdated ratings are concerning because it may indicate that either the company hasn't been rated since or its most recent ratings aren't as good.

Limited Customer Insight

Physicians Mutual does not have many customer reviews on Best Company. With limited information, we can't draw conclusions about the customer experience at Physicians Mutual.


The Bottom Line

Physicians Mutual is not a recommended company if you're looking for health insurance, particularly major medical coverage. It only offers Medigap and cancer insurance. Some of these policies may not be available in your area.

Even if you're interested in cancer insurance or Medigap, it's hard to tell whether Physicians Mutual is worth choosing because of limited reviews and outdated financial strength ratings. 

However, Physicians Mutual was founded in 1902 and has stood the test of time. If its products are available in your area, you may want to get more information by working with Physicians Mutual directly. 

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Linda Horn Lake Charles, LA

Love it! Have never had a complaint. They could improve their discount drug benefit.

5 years ago