Vantis life insurance review 2020
Offers policies at competitive rates with charitable giving and accelerated benefit riders included.
Get a quote if…
- you’re looking for a basic policy at a reasonable rate.
Pick something else if..
- you want more policy options and better online tools.
21 to 70
$50,000 to $2 million
Medical Exam Required
|Available states||All 50 states|
|Term lengths||T10, 15, 20, 25 and 30 years|
|Issue age||21 to 70|
|Coverage||$50,000 to $2 million|
|Medical exam required||No|
|Claim methods||Phone: 866-826-8471|
|Customer support||Phone, Online|
|Riders||Accelerated death benefit rider, Disability income benefit rider, Return-of-premium rider|
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
Vantis Life is a financially stable company with a standard set of policies intended to appeal to working families and other customers looking for competitive rates and straightforward policies. But if you’re interested in a better online presence or more complex policies, such as universal or variable life insurance, you’ll want to shop around for a company that better suits your needs.
What types of life insurance coverage does Vantis offer?
You can apply for the following Vantis life insurance policy packages:
- Term life.Get a customizable term policy with an instant quote process and no medical exam.
- Whole life.This permanent life insurance has guaranteed cash value after the first year, which is uncommon considering most policies don’t build much value in the first few years.
- Guaranteed issue life.Available to customers between 50 to 80 years old who want a life insurance policy without having to take a medical exam.
- Single premium whole life. Buy into an insurance policy with a single lump sum payment and still get the advantages of whole life. This policy comes with free add-ons like a return of payment rider, an accelerated benefit rider and a charitable giving rider.
What riders can I add to my life insurance policy?
Vantis offers several insurance add-ons, including the following:
- Return of payment. This add-on guarantees the return of your base premiums if your term policy ends before you die. This excludes the part of your premium that pays for riders and any other extras.
- Accelerated benefit.This rider allows you to receive part of your death benefit if you become terminally ill.
- Charitable giving. Pays a small percentage of your policy’s death benefit to a charity of your choice. This is in addition to the death benefit payout and doesn’t decrease the amount your beneficiary receives.
- Disability waiver of premium. Waives your future premiums if you become disabled.
How much does Vantis life insurance cost?
According to the Vantis website, sample term life insurance rates start at $11 per month for a 10-year term, $14 for a 20-year term or $20 for a 30-year term life policy. Those rates are for $250,000 in coverage for a nonsmoker in excellent health.
However, the Vantis application process includes what they call “real-time underwriting” to give you an estimated quote based on your personal information, such as your height, weight, medical history, age and hobbies, as well as publicly available online data.
Pros and cons of Vantis
- Great customer reviews. Other than a few complaints about the lack of online tools, most customer reviews are positive, giving Vantis high star ratings on review sites.
- Popular riders included. Vantis includes the accelerated benefits and charitable giving riders with every policy.
- No medical exam term policies. If you want a term policy with no medical exam, Vantis offers that with their Velocity Term Life Insurance policy. You do need to supply medical history information as part of your application process.
- No online claims. While the company does have a customer portal to manage your policy, your beneficiary would have to call customer service to file a claim and then wait for claim forms to be sent by mail.
- No mobile app. Vantis announced in 2019 that a mobile app is in development, but as of April 2020, Vantis hasn’t released the app or given a release date. According to interviews, the app will provide reminders and self-help tips, as well as a points system that will allow customers to earn rewards such as gift cards and discounts.
- Limited products on offer. Vantis offers basic term and whole life products, but no universal life or variable life products.
Compare alternatives to Vantis
Vantis life insurance reviews and complaints
Vantis doesn’t have many online reviews, but the few available mostly show high customer satisfaction. TrustPilot has 49 reviews with an average of 4.5 stars. The complaints are mostly about a clunky website and the lack of online tools to manage customer accounts. The company is accredited by the Better Business Bureau with an A+ rating, and has an A+ financial strength rating with AM Best.
How do I sign up?
Applying for a Vantis life insurance policy starts with getting a free quote. You can get a quote through a Vantis agent by calling 855-598-9370 or filling out the online form to get an agent callback. You can also get an online quote by following the steps below:
- From the home page of the Vantis website, click Get a Free Quote.
- Enter your personal information and click Continue.
- Select the product you want to purchase and click Quote this product.
- Select the details of the plan to see how your premium increases or decreases.
- Choose from the following options:
- Email me quote. A pop-up window displays with your pre-populated email and phone number. Indicate whether you’re willing to receive texts from Vantis and click Submit.
- Connect me to a licensed agent. A pop-up window displays with your pre-populated email and phone number. Select a good time to reach you and indicate whether you are willing to receive texts from the agent. Click Submit.
- Continue to application. A pop-up window displays to email the quote. Indicate whether you’re willing to receive texts from Vantis and click Submit.
- If you choose to apply, you will be asked for your driver’s license, Social Security number and bank information. Then, click Continue with application.
- Enter the information as requested, including personal details, your hobbies and activities, medical history and beneficiaries.
- Once you’ve electronically signed the policy, you can choose how to pay for it and submit.
Is Vantis part of Penn Mutual?
Vantis has been in business for over 75 years and was recently acquired by Penn Mutual Life Insurance Company as a wholly owned affiliate. The company sells life insurance through banks and individually and currently has underwritten almost $5 billion in active life insurance policies.