Quick answer
Kemper remains active in life insurance through Kemper Life, even after exiting its preferred home and auto business in 2023. The life business descends from the home service tradition: small whole life policies aimed at working families, with simplified underwriting and agent-based service. Coverage amounts are modest and per-dollar pricing is high compared with term insurance, so Kemper Life products fit final expense needs; families needing real income replacement should price level term from carriers like Banner Life or Transamerica first.
Our take on Kemper
Because Kemper does not specialize in life insurance, its available products are a bit limited. Additionally, their website offers little information about their products, as they prefer that you speak with an agent directly.
As of today, Kemper’s policies are available in 19 states, which is less than half of the country!
Because of these factors, it’s difficult to know who would benefit the most from Kemper’s products. Basically, if you live in an eligible state and are looking for a basic policy, Kemper may be a good choice. If you already have auto or property insurance through Kemper, it may be worth talking to an agent about purchasing additional life insurance.
If you live outside their coverage area or are looking for an affordable policy with plenty of riders and options, there are plenty of better choices available on the market. Unfortunately, they do not provide online quotes, so for more information, you’ll need to speak directly with one of their agents.
| A.M. Best Rating | A- |
| S&P Rating | A- |
| BBB Rating | A+ |
| Customer Service Phone | 866-860-9348 |
| Website | www.kemper.com |
| Address | Kemper Life & Health Company One East Wacker Drive Chicago, Illinois, USA |
What We Like
No Medical Exam
Kemper does offer policies without requiring a medical exam.
Coverage in as Little as a Day
While you have to meet with an agent, their policies can be issued quite rapidly.
Strong Financial Rating
Despite some other shortcomings, Kemper still enjoys strong financial ratings from A.M. Best.
What We Don’t Like
Vague Policy Details Online
Kemper’s website is significantly lacking. Not only are online quotes unavailable, but they offer almost no information about the specifics of their life insurance policies.
High Number of Complaints to State Regulators
Kemper has a poor track record of customer service, with more complaints to state regulators than other companies of their size.
Only Available in 19 States
Kemper only sells policies to applicants in Alabama, Arkansas, California, Florida, Georgia, Illinois, Louisiana, Maryland, Michigan, Missouri, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. This is less than half of the country.
Kemper Life Insurance Products
Term Life
| Length of Coverage | 10, 20, and 30-year terms |
| Minimum Coverage | $5,000 |
| Maximum Coverage | $25,000 |
| Estimated Time to Approval | Immediate |
| Product Features |
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Kemper offers term life insurance in term lengths of 10, 20, and 30 years. Kemper’s term life products offer level premiums, ensuring that your rates stay constant for the duration of your policy.
Set Policy Increments
Other insurance companies allow customers to select a coverage amount that’s right for them. With Kemper, applicants are only able to choose coverage in increments of $5,000, limiting the ability to customize your policy.
Limited Coverage Amounts
Kemper offers coverage ranging from $5,000 to $25,000, which is less coverage than some company’s final expense insurance.
Guaranteed-Issue Whole Life
Guaranteed-issue whole life insurance is available through Reserve National Insurance Company, which is part of Kemper Life & Health.
No Medical Exam
As a guaranteed-issue policy, no medical exam is required for approval, though death benefits on these types of policies tend to be significantly reduced.
Graded Death Benefit
For the first two years of the whole life policy, the full death benefit will not be available unless you die in an accident. Should you die of natural causes, your beneficiaries receive a percentage of the benefit. After two years, the death benefit becomes fully available.
Level Premiums
As with their other policies, this whole life insurance plan comes with level premiums, locking in rates for the lifetime of the plan.
Whole Life Insurance
Kemper offers whole life insurance with the capability of accumulating cash value, which can be used as additional inheritance or can be borrowed against to pay for end-of-life expenses.
Limited-Pay Option
Kemper allows its whole life customers to choose a limited-pay option, enabling you to pay for the policy in a predetermined time frame, such as 20 years. All other policies must be paid for the lifetime of the policyholder.
Policy benefits
Riders
Many companies offer riders, which are products that add additional benefits to your policy. Kemper offers no riders, which limits the flexibility of its insurance products.
Other Insurance Products
While Kemper does not specialize in life insurance, they do offer a wide range of other insurance policies. Some customers may appreciate having more than one of their insurance needs under the same roof, though these policies are handled by different divisions in the company.
Cost
Kemper tends to be a bit pricier than other guaranteed-issue providers. A 55-year-old man could easily be looking at a monthly premium of $120 for a $20,000 policy, which is a bit higher than competing guaranteed-issue companies. And, of course, if you meet the qualifications for traditional underwriting, you will be paying even less.
Performance
Financial ratings
Kemper’s ratings are generally quite high:
- AM Best: A-
- S&P: A-
