Kemper Life is not one of our top life insurance companies. You can consult our list of best life insurance companies for what we think are better options.
The benefits explained
- No-medical policies available: You can take out life insurance with Kemper without going through a medical examination. All you need to do is answer a few questions about your health to determine your eligibility.
- Same Day Decision Coverage: If you get approved for a Kemper life insurance policy, you can get same-day coverage, with no waiting periods or meeting with an agent.
- Limited Online Policy Information: When reviewing Kemper, we found that the website was not only difficult to navigate, but there was also little information about what the policies covered. Also, there aren’t many educational resources, like a coverage calculator.
- High number of complaints: Kemper has an extremely high number of complaints relative to its size, as measured by the NAIC Complaint Index.
- No runner announced: On its website, Kemper does not list endorsements that can be added to your policy for additional coverage. For all life they mention that multiple runners can be added, but not what they are.
- Few types of policies: Kemper Life only sells term and whole life insurance, including a final expense policy, and not all policy types are available in all states. You will need to contact a Kemper agent or office for more information.
Index of complaints
One of the main drawbacks of Kemper is that the company receives a high number of complaints for its size. Of the 91 life insurance companies we looked at, there were only four other providers with more complaints than Kemper.
To better understand what consumers think of the company, we leveraged data from the National Association of Insurance Commissioners (NAIC) Complaint Index. Here’s how it works: The Complaints Index is calculated based on the number of complaints a company receives relative to its size. Companies with an expected number of complaints for their size have an index of 1.0. Companies with more complaints than expected have an index above 1.0 and companies with fewer complaints than expected have an index below 1.0.
In the last three years of 2021, 2020 and 2019, Kemper’s complaint ratings were 3.62, 6.13 and 3.80. This means that the company is receiving many times the complaints expected for a company of its size, indicating that the company has serious customer satisfaction and service issues.
Kemper Life received an A (Excellent) rating from AM Best for its financial strength, meaning its ability to meet policyholder obligations, such as paying claims, is deemed excellent. AM Best is a credit rating agency that issues financial stability scores based on a company’s balance sheet, debt and other factors.
However, it is the third highest rating given by AM Best. The highest rating issued by AM Best is A++, which many of our best life insurance companies have.
Kemper’s portfolio of life insurance products includes a policy that does not require a medical exam. However, keep in mind that not all products are available in all states. Contact a local agent to find out what policies are available where you live and to get a quote.
Term life insurance
Term life insurance provides coverage for a fixed number of years. It usually has level premiums that will never increase and a guarantee death benefit which is paid if you die during the term. Although permanent life insurance has a cash value, most term life insurance policies do not. The main feature of a term life insurance policy is the death benefit. Kemper offers term life insurance coverage for amounts ranging from $25,000 to $250,000.
Whole life insurance
Whole life insurance is a type of permanent life insurance that provides coverage for your lifetime. It has level premiums, a guaranteed death benefit and a cash value making up. Part of the premium you pay is allocated to the cash value. If you need access to money while you are still alive, you have the option of withdrawing or borrowing your cash value money.
End-of-stay expense insurance
End-of-life expense insurance or funeral insurance provides a small amount of coverage that is often used to pay for end-of-life expenses, such as funerals or final medical expenses. Final expense insurance can be a good option for people who have pre-existing medical conditions and cannot pass a medical exam or get approved for a traditional life insurance policy. Although Kemper’s final expense policy is billed as a guaranteed issue, there are a few disqualifying health situations that you will be asked about. Those who are terminally ill, confined to a hospital or in other similar situations cannot buy the policy. The policy is available for people between the ages of three and 80.
Final expense insurance policies tend to be very expensive, given the limited amount of coverage they offer. This type of insurance is generally only recommended if you have tried unsuccessfully to obtain standard life insurance.
Kemper does not advertise life insurance riders are offered on its website, which are riders that can be added to fill gaps in coverage or enhance your standard policy with more benefits and features. The company only mentions that various riders are available for whole life policies. Some ordinary riders include a Waiver of Premium Rider, Terminal Illness Rider, Long Term Care Rider, Child Term Insurance Rider, and Guaranteed Insurability Rider. A Kemper agent can tell you which ones they offer.
You can contact Kemper Life by calling the company at (800) 777-8467 or by emailing customercarePA@kemper.com. You can also find an agent in your areawho may be able to provide more personalized customer service.
Our Methodology: How We Review Life Insurance Companies
We have designed a comprehensive ranking methodology based on consumer priorities and life insurance company fundamentals to rank over 90 insurers in five general categories: financial stability, customer satisfaction, variety of products and features, experience of overall purchase and cost.
To do this, we collected over 5,000 data points and scored each company based on 55 metrics. We’ve grouped the metrics by category to see insurers’ performance in each; we then weighted the category scores to determine overall business performance.
For more, read our full Life insurance methodology.