Oxford Life Insurance Company began in 1965 and is a good last-expense insurance provider. Oxford Life offers up to $500,000 in lifestyle coverage insurance for seniors without clinical tests and smart add-on benefits. Oxford is now a 100 percent owned subsidiary of U-Haul Holding Company. Based in Arizona and Phoenix, Oxford Insurance Agency sells life coverage and annuities in all states except New York and Vermont. Moreover, it also specializes in retirement products. Lets do a quick review of its advantages and available plans.

Advantages of Oxford Life Insurance

No Medical Checks Required

Oxford Life's three plans don't require medical exams, which benefits potential policyholders. This also simplifies the method, allowing people to get coverage faster without seeing a doctor. Oxford Life Insurance can also offer more affordable and inclusive insurance, especially for those with health issues that may affect their eligibility for regular policies. No matter their medical history or health situation, the organization strives to offer affordable financial solutions to all consumers.

Single Premium Policies

Oxford Life's single premium policies are distinctive and enticing to life insurance seekers. Oxford Insurance Agency simplifies life insurance finances by allowing policyholders to pay one upfront premium instead of many premiums over timethose who prefer a one-time payment or may invest a large sum in coverage like this approach. Single premium insurance eliminates continuing premium payments, giving policyholders and beneficiaries peace of mind and financial predictability.

Medicare Supplement Coverage

Oxford Life offers Medicare Supplement coverage in addition to life insurance and annuities. The organization is committed to satisfying its customers' diversified insurance needs, especially those nearing or in retirement. Medicare Supplement plans provide additional benefits and financial stability for healthcare expenses not covered by traditional Medicare. Oxford Life offers Medicare Supplement coverage and other products to serve people at various life and health phases.

Excellent Third-Party Ratings

AM Best's financial strength rating and the NAIC's customer satisfaction rating demonstrate Oxford Life's reliability and reputation as an insurance provider. These awards reassure policyholders that Oxford Insurance Agency is a reliable company that can meet its financial responsibilities and deliver excellent service.

Disadvantages of Oxford Life Insurance

No-term Life

Oxford Life Insurance Company only offers whole life and last expense insurance, which is a negative for term life policy buyers who want flexibility and affordability. Many insurance customers choose term life insurance due to its simplicity, price, and flexibility in coverage duration.

No Availability in N.Y. or V.T.

Oxford Life may exclude New York and Vermont residents from its insurance products and services due to its market absence. Due to New York's strict regulations, insurance firms often don't sell policies there, but Vermont further limits Oxford Life's geographic scope. Due to this restriction, Oxford Life customers in these states may have to go elsewhere for insurance.

Maximum $500,000 Coverage

Oxford Life's Prosperity Select plan's $500,000 maximum coverage limit may need to be increased for some families, especially those with higher financial obligations or dependents. The $500,000 cap may be enough for some policyholders to protect their families or meet financial goals like income replacement, mortgage repayment, or estate preparation.

Limited Riders Availability

Oxford Life's state-specific restrictions may frustrate policyholders needing help with rider and benefit coverage. Riders can adjust Oxford Insurance Agency Inc. policies to individual requirements and tastes, but their restricted availability across states may limit policyholders' ability to maximize their insurance protection. This limitation may cause coverage and benefit differences between policyholders in various states, affecting Oxford Life's insurance products' satisfaction and value.

Available Plans

Oxford Life Insurance offers Prosperity Select, Assurance, and One plan. Each ultimate expense policy has different features.

Oxford Life Prosperity

Oxford Life Prosperity Select offers single-payment whole-life insurance. People 55 to 80 can choose from $30,000 to $500,000 in coverage without a medical checkup. Additionally, coverage will always remain the same after the first premium. Your Oxford Insurance Agency Inc. policy builds cash value when you pay the premium. This Modified Endowment Contract (MEC) provides federal income tax-free benefits and optional emergency liquidity.

Oxford Life Assurance

Oxford Life Insurance provides last-expense life insurance to people between 50 and 80; however, the coverage depends on age. If you pay your rates, your policy will stay in effect and never reducefederal income tax-free death benefits. A medical questionnaire is necessary before buying a policy, but no exam is needed, simplifying the processinstant approval during your point-of-sale interview.

Oxford One Life Insurance

Assurance One combines Prosperity Select's one premium feature with Assurance's final expense advantages. This policy covers 5580-year-olds for $5,000$30,000 and never ends unless canceled. Assurance One offers a single or joint payment and the same federal income tax-free advantage as the other two.

Your policy's maximum death benefit varies on issues of age, gender, and tobacco class. A medical questionnaire must be purchased, but no exam is needed. You get instant approval during your point-of-sale interview.

Available Riders

You can add riders to your Oxford Insurance Agency policy a la carte. Four types of riders are available for Oxford Life Insurance products with accelerated benefits.

Chronic Disease Benefit Rider

If the policyholder cannot execute at least two daily tasks or needs lengthy monitoring for physical safety, they receive the lesser of $2,000 or 1% of their insurance. California and Florida need this rider.

Home Health Care Benefit Rider

Policyholders with chronic illnesses who get home health care for 90 days can earn the lesser of $2,000 or 1% of their policy as a monthly benefit. Only Delaware, North Dakota, and Washington, D.C., offer this benefit.

Nursing Home Benefit Rider

For the remainder of their lives, Oxford Insurance Agency Inc. policyholders who live in a nursing home receive a monthly payout based on the years the insurance is active. This benefit is not offered in California or Florida. Arkansas, Arizona, Delaware, North Dakota, and Washington D.C. require 90 days to be completed in a nursing home.

Rider with Terminal Illness

When your life expectancy is fewer than 12 months, you can receive 100% of your death benefit with a terminal illness. California policyholders cannot use this Oxford Insurance Agency rider. Your riders are determined by your plan and state.