Provident Life and Accident Insurance is an essential insurance to consider for individuals and families alike. It can provide financial security in the event of an unforeseen illness or injury, ensuring that individuals can receive the medical care they need without worrying about the associated costs. With its comprehensive coverage plans, Provident Life and Accident Insurance offers a variety of benefits that make it an attractive option for those seeking additional protection.
Introduction to Provident Life and Accident Insurance Company
Provident Life and Accident Insurance Company has provided life insurance products to customers since its founding in 1902. The company is known for offering reliable and affordable policies tailored to its customers’ needs. From life insurance, accident coverage, disability income protection, and more, Provident Life and Accident Insurance Company is committed to helping those they serve to protect their family’s financial future.
Provident Life and Accident Insurance Company wants each of its customers to have the best experience possible when signing up for a new policy or making changes to an existing one. They offer several tools to help with this goal, such as helpful videos and articles on budgeting, retirement planning, long-term care insurance options, and more.
Benefits of Choosing Provident for Insurance Coverage
Choosing a Provident for your insurance coverage can provide many benefits. They offer competitive rates, and their customer service and range of products are top-notch. Whether you’re looking to cover yourself or your family, Provident has many options.
Provident prides itself on its commitment to customer service, offering 24/7 support when you need it most. Their knowledgeable staff is always available to answer any questions about policies, quotes, and coverage options. With tailored plans and payment plans to fit your budget, Provident ensures you get the coverage you need without breaking the bank.
In addition to their stellar customer service, Provident offers a variety of life and accident insurance policies with flexible terms and competitive premiums.
Different Types of Insurance Offered by Provident
Provident Life and Accident Insurance provide a comprehensive portfolio of insurance coverage options for individuals, families, and businesses. As one of the leading providers of life and accident insurance in the United States, Provident offers several policies to meet its customers’ needs. From traditional term life insurance to comprehensive health plans, Provident can help you protect your family or business from unexpected events.
The company provides multiple life insurance policies, including term life, whole life, universal life, and variable universal life. Term policies are designed for short-term coverage with specific durations ranging from 5 to 30 years; universal and variable universal policies provide lifelong protection with additional features such as cash accumulation value.
What Makes Provident Stand Out?
Provident Life and Accident Insurance offers a comprehensive range of life and accident insurance products to meet your individual needs. From term life insurance to disability protection to accidental death coverage, they have the right policy for you. But what makes Provident stand out from the rest?
For starters, Provident provides customers with competitive rates on all their products. They also offer personalized service from experienced agents who are available around the clock to answer any questions you may have about your policy or its coverage options. Their flexible payment plans make it easier for you to fit insurance into your budget.
In addition, Provident is committed to helping customers protect their loved ones in case of an unexpected tragedy by offering comprehensive coverage at affordable prices that can give you peace of mind knowing that someone will be taken care of if something ever happens.
Tips for Choosing the Right Insurance Plan with Provident
When it comes to finding the right insurance plan, there are a lot of options out there. Provident Life and Accident Insurance is a great choice for comprehensive coverage and financial security. With their wide range of insurance plans, they can help protect you in the case of an accident or illness. Here are some tips to help you choose the right plan with Provident:
First, consider your current lifestyle and future goals. What kind of coverage do you need now? Do you expect any major changes in your life that might require additional protection? Once you have determined this information, you can look at Provident’s different types of plans to find one that meets your needs. Additionally, please consider any pre-existing or medical conditions so that you can select a plan that covers them adequately.
History of PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY
Provident Life and Accident Insurance Company has a long and rich history of providing financial protection for individuals and families. Founded in 1887, the company was created by business people in Chattanooga, Tennessee, to provide life insurance policies that could protect families during difficult times. Over the past 130 years, Provident Life and Accident Insurance Company has become an industry leader in providing a full range of financial services, including life insurance, accident coverage, annuities, health insurance, and more.
The company’s commitment to customer service is second-to-none; it provides customers with personalized service from experienced advisors who can help them create customized plans to meet their needs. Provident Life and Accident Insurance Company also works hard to stay ahead of the curve in new technologies to continue offering innovative products that meet modern customer needs.
Market Share
| Year | Line | Market Share | Direct Premium Written | Direct Premium Earned | Direct Losses Paid | Direct Losses Incurred | Loss Ratio |
|---|---|---|---|---|---|---|---|
| 2021 | Total Accident & Health | 0.01% | $10,266,917 | $10,430,281 | $6,808,468 | $5,676,985 | 54.43 % |
| 2021 | Total Individual Accident & Health | 0.05% | $10,253,721 | $10,417,145 | $6,673,642 | $5,635,877 | 54.10 % |
| 2021 | Individual Long Term Care | 0.09% | $442,782 | $455,928 | $142,808 | $179,454 | 39.36 % |
| 2021 | Individual Specified Disease | 0.03% | $209,532 | $207,319 | $48,552 | $53,700 | 25.90 % |
| 2021 | Individual Accident Only | 0.08% | $234,551 | $228,071 | $17,115 | $15,746 | 6.90 % |
| 2021 | Individual Disability Income | 4.02% | $9,365,429 | $9,524,382 | $6,465,167 | $5,386,977 | 56.56 % |
| 2021 | Individual Limited Benefit | 0.00% | $1,427 | $1,445 | $0 | $0 | 0.00 % |
| 2021 | Total Group Accident & Health | 0.00% | $13,196 | $13,136 | $134,826 | $41,108 | N/A |
| 2021 | Group Long Term Care | 0.01% | $12,906 | $12,906 | $13,424 | $17,110 | N/A |
| 2021 | Group Specified Disease | 0.00% | $63 | $63 | $2,668 | $2,609 | N/A |
| 2021 | Group Disability Income | 0.00% | $227 | $167 | $118,734 | $21,389 | N/A |
| 2021 | Total Life | 0.02% | $6,393,784 | $0 | $4,953,681 | $0 | N/A |
| 2021 | Total Individual Life | 0.03% | $6,371,748 | $0 | $2,606,498 | $0 | N/A |
| 2021 | Individual Whole Life | 0.24% | $4,054,742 | $0 | $1,570,387 | $0 | N/A |
| 2021 | Individual Term Life | 0.00% | $28,220 | $0 | $0 | $0 | N/A |
| 2021 | Individual Universal Life | 0.13% | $2,288,786 | $0 | $1,036,058 | $0 | N/A |
| 2021 | Individual Ordinary Annuities | 0.00% | $0 | $0 | $53 | $0 | N/A |
| 2021 | Individual Deposit-Type Funds | 0.00% | $0 | $0 | $0 | $0 | N/A |
| 2021 | Total Group Life | 0.00% | $22,036 | $0 | $2,347,183 | $0 | N/A |
| 2021 | Group Term Life | 0.00% | $18,758 | $0 | $130,849 | $0 | N/A |
| 2021 | Group Universal Life | 0.00% | $3,278 | $0 | $0 | $0 | N/A |
| 2021 | Group Ordinary Annuities | 0.00% | $0 | $0 | $2,216,334 | $0 | N/A |
| 2021 | Group Deposit-Type Funds | 0.00% | $0 | $0 | $0 | $0 | N/A |
| 2020 | Total Accident & Health | 0.01% | $10,407,296 | $10,633,962 | $7,594,198 | $6,812,114 | 64.06 % |
| 2020 | Total Individual Accident & Health | 0.04% | $10,392,393 | $10,619,005 | $7,241,745 | $6,635,913 | 62.49 % |
| 2020 | Individual Long Term Care | 0.09% | $462,859 | $479,480 | $155,770 | $207,290 | 43.23 % |
| 2020 | Individual Specified Disease | 0.03% | $231,137 | $226,616 | $127,151 | $134,156 | 59.20 % |
| 2020 | Individual Accident Only | 0.11% | $288,006 | $275,132 | $26,098 | $23,975 | 8.71 % |
| 2020 | Individual Disability Income | 4.04% | $9,408,930 | $9,636,402 | $6,932,726 | $6,270,492 | 65.07 % |
| 2020 | Individual Limited Benefit | 0.00% | $1,461 | $1,375 | $0 | $0 | 0.00 % |
| 2020 | Total Group Accident & Health | 0.00% | $14,903 | $14,957 | $352,453 | $176,201 | N/A |
| 2020 | Group Long Term Care | 0.01% | $14,506 | $14,506 | $201,864 | $137,457 | N/A |
| 2020 | Group Specified Disease | 0.00% | $63 | $62 | $5,907 | $5,776 | N/A |
| 2020 | Group Disability Income | 0.00% | $334 | $389 | $144,682 | $32,968 | N/A |
| 2020 | Total Life | 0.02% | $6,415,829 | $0 | $4,768,153 | $0 | N/A |
| 2020 | Total Individual Life | 0.03% | $6,392,523 | $0 | $2,065,133 | $0 | N/A |
| 2020 | Individual Whole Life | 0.29% | $4,115,806 | $0 | $1,478,677 | $0 | N/A |
| 2020 | Individual Term Life | 0.00% | $35,687 | $0 | $0 | $0 | N/A |
| 2020 | Individual Universal Life | 0.13% | $2,241,030 | $0 | $586,414 | $0 | N/A |
| 2020 | Individual Ordinary Annuities | 0.00% | $0 | $0 | $42 | $0 | N/A |
| 2020 | Individual Deposit-Type Funds | 0.00% | $0 | $0 | $0 | $0 | N/A |
| 2020 | Total Group Life | 0.00% | $23,306 | $0 | $2,703,020 | $0 | N/A |
| 2020 | Group Term Life | 0.00% | $20,028 | $0 | $319,009 | $0 | N/A |
| 2020 | Group Universal Life | 0.00% | $3,278 | $0 | $0 | $0 | N/A |
| 2020 | Group Ordinary Annuities | 0.00% | $0 | $0 | $2,384,011 | $0 | N/A |
| 2020 | Group Deposit-Type Funds | 0.00% | $0 | $0 | $0 | $0 | N/A |
Source : insurance.mo.gov
Complaint Index
| Year | Line | Market Share | Number of Complaints | Complaint Index |
|---|---|---|---|---|
| 2021 | Health | 0.11% | 2 | 60 |
| 2021 | Life and Annuities | 0.07% | 0 | 0 |
| 2021 | Long-Term Care Insurance | 0.19% | 0 | 0 |
| 2020 | Life and Annuities | 0.08% | 0 | 0 |
| 2020 | Long-Term Care Insurance | 0.20% | 0 | 0 |
| 2020 | Health | 0.13% | 2 | 46 |
Source : insurance.mo.gov
Final Thoughts on Provident Life and Accident Insurance Company
Provident Life and Accident Insurance Company has provided Americans peace of mind since 1904. After a comprehensive review of their services and customer reviews, it is clear that Provident Life and Accident Insurance Company offers its customers a wide range of unbeatable benefits. From accident coverage to life insurance policies, this company provides the necessary protection for people in all stages of life.
Their customer service team is highly responsive and friendly – they are always ready to assist customers with any questions or concerns. Furthermore, Provident Life and Accident Insurance Company offers an impressive array of discounts for policyholders who need extra coverage but need help to afford the full cost upfront. With these unique offerings, it is no wonder why so many people trust Provident Life and Accident Insurance as their go-to providers for all their insurance needs!
