Cincinnati Financial Corporation started out in 1950 in Cincinnati, Ohio. It has since relocated to Fairfield, Ohio and is run under CEO Steven Johnston. In 1968, it created a subdivision company for life insurance. According to Cincinnati Insurance's website, "The Cincinnati Insurance Company stands among the nation's top 25 property casualty insurer groups, based on 2014 net written premiums."
Cincinnati Life Insurance is an independent agency that focuses a great deal on the quality of its representatives. The company has about 3,000 associates, and 807 local claims associates trained and ready to serve individuals local based agents are committed to providing the best customer service experience. The company intends not only to provide policyholders with excellent customer service but also to help those that are struggling financially because of a loss. Other benefits include:
It is a no medical exam company, that offers life insurance policies, disability income insurance, and annuities.
For those on a tight budget, a term policy is a great way to get insured. Term life insurance is a way to feel financial security. Some benefits of term life insurance include:
Cincinnati Insurance offers LifeHorizons Guaranteed Whole Life Insurance. This option is great for helping people feel financially secure. It protects the buyer and their family for their whole lives. It cannot be canceled as long as premiums are always paid. Some benefits of whole life insurance include:
According to Cincinnati insurance's website, The LifeHorizons Guaranteed Whole Life Insurance is ideal for:
The LifeHorizon Simplicity Life Insurance has great coverage as well as flexibility. Some benefits of universal life insurance include:
Families who depend on an earned income should look into LifeHorizon Disability Income Insurance. It is a great way to feel protected in case an unexpected emergency disables one from working and earning an income. While a majority of people insure their car and their home, many forget to insure their ability to work. Depending only on social security as a safety net is less stable. Disability insurance is a smart way to go to make sure a family is covered financially in case the breadwinner's disability prevents them from being able to bring home an income.
Cincinnati Life Insurance offers annuities - which are great things to have if one is worried about outliving their savings. The company offers The LifeHorizons Single Premium Deferred Annuity and The Flexible Premium Deferred Annuity, both with no added surprise fees. Annuities purchased from Cincinnati Life Insurance guarantee no increase in premiums or interest rates during the policy.
Because Cincinnati Insurance focuses on independent representatives, the agency can build lasting and long-term relationships with its clients. This also means that each representative takes their customer's request very seriously. Representatives handle claims fast. Cincinnati Insurance is often praised for having great service for a great price. Their goal is to provide a "strong local presence, unparalleled claims service." Cincinnati Insurance offers a 24-hour toll-free customer service line.
The Cincinnati Financial Corporation as a whole appeared on Forbes' America's 50 Most Trustworthy Financial Companies list. Not only that, but the company also received an A+ rating from A.M. Best. While they have developed a reputation of helping their clients, there are limitations to be aware of too:
According to TopQuote, Cincinnati Insurance will only issue policies to people ages 0-60. Alternatively, people ages 61-75 can obtain insurance with Urinalysis only.
Some have claimed that the approval process takes a lot longer than most other companies. This could be a result of it being a no medical exam company. According to TopQuote, "Underwriting (for Cincinnati Insurance) will consist of an application, medical history questionnaire, review of your MIB, MVR and prescription check. The average underwriting period for a general life insurance company lasts typically about 3-8 weeks, however, customers claim that Cincinnati Insurance can sometimes take a little longer than that.
Unfortunately, there is no way to calculate and compare price quotes online. Cincinnati Insurance only issues quotes and sells their policies through individual representatives. Sample quotes are not listed upfront on the webpage. Customers can try and locate a representative online or by phone. Not only that, since Cincinnati Insurance is an independent company focused on agents, commission rates may drive up the prices to a degree. Product availability does differ by state, and people need to contact their agent to find out exactly how.
Navigating through the website feels cluttered, and there is not a lot of information listed about how to file claims. Cincinnati Insurance does not display information on how it specifically handles claims either. The website could be made better by displaying more pricing information for customers to compare. Some customers criticize that in the past, Cincinnati Insurance has increased its rates at times.
Vickie Coatesville, IN
5 years ago