Western Reserve Life

Western Reserve Life sells term, universal variable, and variable life insurance, plus fixed and variable annuity plans. Western Reserve was founded in 1957 in Cleveland, OH, and they sell through independent agents and brokers. Their parent company is AEGON USA Group. Read the Western Reserve life insurance reviews below to find out if this is the right life insurance company for you.

UPDATED: Feb 20, 2021Fact Checked

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Feb 20, 2021

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Company Details
Address: 4333 Edgewood Road N.E.
City: Cedar Rapids
State: IA
ZIP Code: 52499
Phone Number: 800-851-9777
AM Best Rating: A+
URL where was collected the AM Best Rating: http://www.ambest.com/ratings/
Lines of Insurance: life
States Licensed To Sell Insurance In: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
Type of Insurance Company: Stock (parent)
Parent Company: AEGON USA Group
Top executive Contact: Ronald F. Wagley
Title of Top executive: CEO
Assets & Premiums:

S&P rating: AA (very strong)Moody’s rating: Aa3 (excellent)Fitch rating: AA+ (very strong)

Company Overview:



Company History: Founded 1957, Cleveland, OH. The company took its name from an area in northeast Ohio once known as the Western Reserve. In five years, Western Reserve Life operated in five states. In the 1960s, changing consumer needs altered the company’s products. The stock market and mutual funds became appealing; however, it was not affordable for traditional and various other investments. To rectify this issue, The Balanced Program was created. This allowed consumers to afford both term life insurance and the benefits of mutual funds.

Principle Sales Methods: Independent agents and brokers.

Life Annuity Business: Western Reserve Life sells Term, Universal Variable and Variable Life Insurance, plus Fixed and Variable Annuity plans.

Reviews
for Western Reserve Group

3.45 (33 reviews)
1
May 13, 2021

Tms

Unprofessional

Had my first claim in 20 years. Had to deal with the rudest most hateful people ever. I have cancelled my policy
1
March 25, 2020

jprice

Poor review

I had some bank account fraud on my checking account and they temporarily shut down my account. I had inadvertently forgot my check to Western Reserve group had already been written. I received a letter from them three days before they were going to suspend my insurance stating that I had to get them a certified check or cashiers check for the full amount by that Sunday. I called them and told them the story- they told me that I couldn't use m...
I had some bank account fraud on my checking account and they temporarily shut down my account. I had inadvertently forgot my check to Western Reserve group had already been written. I received a letter from them three days before they were going to suspend my insurance stating that I had to get them a certified check or cashiers check for the full amount by that Sunday. I called them and told them the story- they told me that I couldn't use my credit card and that I needed to call my local insurance agent. They wouldn't or didn't know how to take my money. The local agent stated that she would reach out to me once she found out how to do it. Never got a call back and thus it was cancelled. Just to boot, I got a bill in the mail for money owed ($38.00) for the lagging period. Not much customer service. I was a customer for at least 10+ years. Sad they treat a customer like that.
5
October 15, 2018

Ssdowning

Good price

They have been great to work with so far! The price is much lower than what we were paying with our previous provider.
5
September 3, 2018

jgirl09

Fan For Life

To be honest, they made shopping for auto insurance easy and manageable for a first-time buyer. I plan on staying with them for a long, long time.
5
July 16, 2018

Ama74

Positive Experience

I have had only good things to say about this company. I have had several claims with this company and never had any problems.
5
April 18, 2018

willieandbarb

Good reliable company to do business with!

This has been a very reliable company. Any claims we have had were taken care of immediately with no problems.
5
February 11, 2018

tango5432

Great service

Great price and excellent customer service easy to use website easy to get a hold of if needed .
5
December 2, 2017

Bethaw

Affordable and fair

I LOVE this insurance company. I get such great coverage for such a great price. I was in an accident shortly after I got my car. Someone rear ended me. It was no problem having someone come out to document and take pictures to find a repair shop to do the job to fix my car.
4
October 26, 2017

servantgal

Reasonable interaction

We have never had any troubles with Western Reserve. We had one claim when our son was in a minor accident, and another when someone else backed into me. They were reasonable to work with both times, and paid according to the policy. The payment wasn't quick, but again, it was reasonable and was what we expected.
5
October 8, 2017

VStrawder

Helpful and conscientious of customers

We have had more than one experience with the automotive portion of our insurance through Western Reserve Group. We had to use our uninsured coverage for one incident. Another, we had difficulty getting insurance info from the other party and Western Reserve stepped in and handled it promptly and efficiently. The third incident, we ended up not needing to use our coverage but Western Reserve called us to make sure things were being handled by the...
We have had more than one experience with the automotive portion of our insurance through Western Reserve Group. We had to use our uninsured coverage for one incident. Another, we had difficulty getting insurance info from the other party and Western Reserve stepped in and handled it promptly and efficiently. The third incident, we ended up not needing to use our coverage but Western Reserve called us to make sure things were being handled by the other party's insurance in a timely manner and offered to help in resolving any situation that we felt wasn't being handled correctly. It's a good feeling to know that they "have our back", so-to-speak, and that we have someone on our side to give advice and information that we have needed to get things done.
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