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Country Financial

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7 User Reviews
LAST UPDATED: May 22nd, 2020

Country Financial is an insurance company currently based out of Bloomington, Illinois. It started in downtown Chicago in 1925.

Beginning as a company for farmers, it initially only offered crop and farm equipment insurance. A few years later, Country Financial began offering auto insurance. In 1929, Country Financial added life insurance to the mix.

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The Good

  • High Financial Strength Rating
  • Thorough Coverage Options
  • Additional Products and Services

High Financial Strength Rating

Country Financial has consistently earned high financial strength ratings from A.M. Best. This track record of high ratings is an indicator of Country Financial's stability and ability to meet its claims obligations.

These ratings are important to know when buying life insurance because you'll want to be sure the company will pay the death benefit when your beneficiaries make a claim. 

Thorough Coverage Options

Country Financial encourages customers to get life insurance so they can financially protect the ones they love. Country Financial offers three kinds of protection:

  • Term
  • Whole 
  • Universal

A term life policy is an easy and affordable option. Customers can choose a death benefit beneficiary who can use the life insurance money to help take care of their children, pay the mortgage, help pay for a college education, and settle debts.

Country Financial's term policies have length options of 10, 20, and 30 years. You can choose coverage amounts ranging between $50,000 and $1,000,000.

You can also customize your term policy with the following riders:

  • Child term insurance — Term coverage for all of the insured's children age 0-17 with a $50,000 coverage limit. These policies are also convertible to a permanent policy when the children turn 23.
  • Return of premium rider — Allows you to receive the premiums of the policy once the term ends and no claim was made.
  • Disability waiver of premium — Allows you to keep the policy without paying premiums if you become disabled.
  • Accelerated death benefit — Pays out part of the death benefit early if the insured is diagnosed with a terminal illness.

These riders offer additional protection and value to your policy to provide comprehensive coverage tailored to your needs.

Country Financial's permanent life insurance options are: whole and universal life insurance. Both policies last a lifetime as long as premiums are paid. These policies also accrue cash value that can be used as an asset while you're still living.

Country Financial's whole life policy offers five payment schedule options. You can pay level premiums until age 95, level premium for 10 years, level premium for 20 years, level premiums until age 65, or purchase a policy with a single lump sum. These options allow you to choose a payment plan that meets your needs.

You can customize your insurance policy with the same riders as the term policy, except the return of premium rider. Additional policy riders include: 

  • Additional term insurance — Buy term life insurance for yourself or your spouse. This policy can also be converted to a whole life policy later.
  • Guaranteed insurability option — Allows you to buy more coverage without medical exams with certain age and amount restrictions outlined in the policy.
  • Index dividend feature — Gives you the chance to increase your dividend payment if its index is doing well and you've allocated the dividend to the index.

Country Financial's whole life policy automatically includes an accelerated death benefit and the index feature riders.

Universal life insurance offers more flexibility with premium payments and cash value investment options. The policyholder also accepts more risk with the cash value accrual, which results in lower premiums.

Country Financial offers more limited information on its universal life insurance policies, but it includes an accelerated death benefit rider. You can also add child term life insurance or a waiver of specified premium (waives set portion of premium if you become disabled).

Additional Products and Services

Country Financial doesn't just offer life insurance. It also offers financial services, including financial planning assistance, retirement services (e.g. IRAs, annuities) and 529 plans. It even offers employer-sponsored retirement plans.
Insurance shoppers can also find the follow insurance products at Country Financial: 

  • Medicare supplement insurance
  • home insurance
  • car insurance
  • farm insurance
  • crop insurance
  • ranch insurance
  • pet insurance

Country Financial also offers identity theft protection.

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The Bad

  • Limited Availability
  • No Online Quotes

Limited Availability

Country Financial only offers its products in 19 states: Alabama, Alaska, Arizona, Colorado, Georgia, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Nevada, North Dakota, Oklahoma, Oregon, Tennessee, Washington, and Wisconsin.

If you do not live in one of these states, you'll need to find another insurance company.

No Online Quotes

You can request a quote online from Country Financial's site. However, you cannot see the online quote. Instead, you must provide contact information, and a Country Financial representative will get in touch with the requested quote information.

While this is annoying, remember that life insurance policies go through underwriting to determine the risk of insuring your and the cost at which the insurer is willing to assume the risk. Underwriting factors include medical history, age, gender, and lifestyle.

Life insurance can be tricky to navigate, so it can be nice to work with a knowledgeable representative to get answers to your questions. Keep in mind that the representative works for Country Financial, so they're interested in helping you buy a Country Financial insurance policy.

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The Bottom Line

Whether you are looking for a term or permanent life insurance policy, Country Financial offers great policies and rider options. It has also earned high financial strength ratings and stood the test of time. These two factors illustrate the company's ability to last as an insurer and its financial security.

The biggest drawback of working with Country Financial is that you cannot get an online quote. You can request a quote, and a Country Financial representative will contact you with more information. If you're still in the life insurance research and pricing stage, this process is inconvenient.

If you live in an area where Country Financial is available, it's a reputable financial institution to work with.

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Star Rating

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7 Reviews

Review Breakdown

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4 grade

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3 grade

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2 grade

29%

1 grade

29%

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Carrie Pullman, WA

I like the fact that the customer needs to speak to a customer service member to obtain a quote. It ensures more accuracy then getting a quote of the internet without assistance. A customer service representative is trained to ask all the right questions , therefore the quote that you would receive would be more accurate then one that you would do on your own, besides that, customer service needs to become a bigger part of our lives today, to me I find it more refreshing when I can actually speak to a person instead of a computer!!!

5 years ago

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Greg Portland, OR

My first issue is when signing up my agent told me that since I didn't have a credit history my rate would be the higher rate for a few months until they had established that I made reliable payments, at which point he would lower it for me. This never happened, and when I called to check in, I was assigned a new agent who told me that wasn't possible. Eventually, I found a MUCH cheaper rate through another provider and switched to them last month. I called and canceled my policy with Country. They confirmed this and told me a check with my balance would be mailed within a few days. I never received the check and in fact was billed AGAIN the following month. Messages left with my agent were not responded to. I called customer service and they had on record that I had canceled, but the local agent did not process it. They back-cancelled the policy again and my request for an e-mail confirmation was a process that took 20 minutes over the phone. Hopefully my policy will be canceled this time, and hopefully I will receive my refund, however, my faith in this company is EXTREMELY low. Best to stay away and do business with a company that does not have such a dishonest, scammy attitude.

4 years ago

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NATALYA LUKIN Vancouver, WA

We are so disappointing with Country Financial Insurance. We have been members for about 10 years now. Us, our children, our parents, relatives and friends. This renewal all of us got our rates jacked up so much higher, we got ours raised by $130! No reported accidents or tickets, all because of some computer generated "score." Now we are all going to search for a different company, and we will be telling all of our friends and family to do the same. We tried calling Country to talk to them about this, but no one was able to help us. We had all of our belongings insured here.

2 years ago

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Review Source

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Julie Martinez Mesa, AZ

They have done well servicing our policy, but about 5 years before the term was up they started aggressively trying to sell us on another policy. They insist on sitting down with us and talking 5 years out and do not let up. I won't renew with them because of the aggressiveness.

3 years ago

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Review Source

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Trent Allen Queen Creek, AZ

We have used Country for our life insurance needs for many years. Great customer service as the agent always comes to our home if we need anything.

3 years ago

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Wilfri Morristown, AZ

Expensive life and investment products. Home owner insurance rates are low to start and then increase dramatically. High agent turn over.

2 years ago

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Lisa coleman

Quick response when you have a claim. Top rated company

2 years ago

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