2023 Life Insurance Savings Group Review (Major Red Flags)

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  • Blog.
  • Funeral Insurance Providers.
  • Revised on June 06, 2023.

    5-minute read.

    Life Insurance Savings Group offers term life insurance and burial insurance.

    Given the restricted range of products on offer, it is improbable that they will be capable of aiding individuals in discovering the ideal life insurance for elderly people.

    Moreover, there are a few warning signs that are extremely worrying.

    This review will explain how their life insurance products work, the companies they offer, and the red flags that should alarm you.

    Additionally, we will offer some straightforward suggestions to assist in locating the optimal burial coverage scheme.

    Two Big Red Flags

    Their business and website present two major concerns.

    The most important warning sign is that their advertisement consistently promotes the assurance of your acceptance.

    That sounds fantastic, but the advertisement should include the details in the terms and conditions.

    In this period, in the event of your demise, they will not provide a payout for the death benefit. Every assured acceptance scheme entails a two-year waiting duration.

    Instead, your recipient would only receive a reimbursement of your insurance payments and a minimal amount of interest.

    Their website and television advertisements must incorporate this information.

    Thankfully, most consumers looking for final insurance expenses can’t wait for the policy period. You should attempt to get full coverage one day, with all costs.

    Another significant warning sign is their webpage.

    It lacks fundamental information that a reputable company should possess. The cost, the plans they offer, their address, and numerous other crucial details remain unknown.

    Reliable and open is the person you are interacting with. You should have confidence that insurance is a crucial aspect of your financial safety.

    Unfortunately, the Life Insurance Savings Group fails to meet those two fundamental criteria.

    Which Insurance Companies Does Life Insurance Savings Group Represent?

    Nowhere on their website does it clearly specify all the different insurance collaborators.

    On their homepage, the website states that beneath the logos of five companies, they highly rate the insurance shopping experience, emphasizing the money and time saved. However,

    It would make sense that they would only showcase logos from companies they endorse.

    Employing that reasoning, here are the insurance companies we presume they portray:

  • Globe Life.
  • Omaha Mutual.
  • AIG.
  • TruStage.
  • Americo.
  • There may be other destinations, but it is impossible to determine since their website lacks transparency.

    Choice Mutual Can Better Serve You, And We’re Highly Transparent

    If you’re looking for final expense insurance, Life Insurance Savings Group is the ultimate destination to avoid.

    In the interest of full disclosure, we are a direct competitor of theirs. However, we don’t make that claim solely on the grounds that we are in competition with them.

    We make a claim that Group Savings Insurance Life is highly secretive about the insurance companies they represent and the plans they offer.

    No one should engage in business with any company that operates in such a manner.

    Here’s a brief overview of why we are better equipped to help you with your end-of-life insurance requirements.

  • We are the representatives of over twelve esteemed companies. We will assess proposals from different carriers to discover the most advantageous agreement imaginable.
  • Below is a sample of the online reviews we have collected. We have almost a thousand 5-star reviews from customers who were satisfied with us. We have documented it and we have received almost a thousand 5-star reviews from customers who were satisfied with us. Our customers love us.
  • We can typically find at least one insurance company that will approve you for coverage immediately if you qualify, because we represent over 15 different insurance companies and there is no waiting period for the policy period.
  • How Much Does Coverage Cost Through lifeinsurancesavings.com?

    Their website features a widget that creates the illusion of providing immediate quotes for final expenses.

    It’s quite deceptive because they don’t display the prices.

    Upon entering all your details (including name, phone, email, address, date of birth, and gender), you will receive a message informing you that an agent will contact you.

    To obtain quotations of any sort, it is necessary to communicate with one of their sales agents.

    To illustrate a cost estimate, the image provided below, captured at the 1:30 timestamp, mentions a weekly charge of $5. The pricing details can solely be derived from their advertisement.

    screenshot from life insurance savings group commercial

    Their goal is to dangle this seemingly low price to entice you to call and pick up the phone. The advertising is very disingenuous, acting as bait to lure you in.

    The commercials estimate that a 45-year-old female would pay $21.45 monthly for coverage, which amounts to $7,000 annually. They claim that the truth is revealed in the fine print of the commercial, where it is stated that the cost is $5 per week.

    Who Is Life Insurance Savings Group?

    Life Insurance Savings Group is a marketing label of the incredibly prosperous insurance agency Select Quote.

    Mike Ditka is prominently featured in their life insurance and term insurance commercial campaigns, which are frequently aired on their website as well as on television.

    Similar to the agency Open Care Senior Plan or Family First Life insurance, they function as an independent agency that serves as a mediator for multiple life insurance companies.

    Life Insurance Savings Group is a broker, not an insurance company. It’s not negative that they operate as an agency.

    That’s beneficial because they can compare policies from various final expense companies instead of being restricted to only one insurance company.

    How Do Their Plans Work?

    They should offer a transparent policy outlining the fine print. Their website is severely lacking in details regarding each plan they offer, which is a major red flag. Firstly,

    That being stated, we managed to gather some particulars from the restricted data their website offers.

    Whole life final expense coverage

    Their burial insurance policies are non-medical examination whole life insurance plans that accumulate cash value.

    The insurance premiums always remain the same, and the insurance coverage will not decrease or expire.

    Their business and website state that United of Omaha is the underwriter of the policy.

    Omaha Mutual. refers to that policy as “Living Promise.” The minimum amount of coverage is $2,000, while the maximum is $40,000.

    People who are between 45 and 85 years old can apply for the level benefit, which has no waiting period. To be eligible, you need to answer health-related questions.

    The classified advantage has a waiting period of two years and is exclusively accessible to individuals aged 45-80.

    Guaranteed issue whole life insurance

    This type of life insurance policy, known as guaranteed acceptance, does not require you to fill out a complete medical examination or health questionnaire.

    You’re assured acceptance hence the title.

    The downside of guaranteed issue coverage is a two-year waiting period.

    Therefore, in the event of your demise within the specified waiting period, the insurance company will solely reimburse your funds.


    All assured life insurance policies have a waiting period of two or more years.

    Generally, only people with extremely high-risk health issues such as dementia, congestive heart failure, or renal failure should buy a guaranteed policy.

    Everyone else should consider a senior burial policy that includes underwriting.

    By taking this action, you can expect to have reduced insurance costs and immediate coverage for death caused by natural factors.

    Their website should provide clear information about the insurance company that backs their guaranteed policies.

    The sole criterion they mention is that candidates must fall within the age range of 45 to 85 years, and the maximum coverage sum offered is $25,000.

    Term life insurance

    Unfortunately, their website (lifeinsurancesavingsgroup.Com) does not provide any information regarding the specifics of their term life insurance, including the product details and the issuing company.

    Nevertheless, their website emphasizes Globe Life. Insurance as one of the insurance companies they collaborate with.

    Most probably, Globe Life. is the company that provides its term life insurance.

    Term life insurance is a life insurance plan that lasts for a specific period of time and will expire once you reach the termination date. When the prescribed period is over, you will no longer have insurance as term life works by renting coverage.

    Generally, term life insurance policies terminate around the age of 80.

    For instance, the final expense insurance provided by AARP terminates when you turn 80 years old.

    The other big concern with term insurance is that they often have monthly premiums that increase with age (such as with TruStage.).

    That can pose a significant issue for individuals with a limited income. What if the insurance premium increases beyond your financial means?

    If that’s the case, you would need to cancel the insurance, which would be devastating.

    Because of the insufficient amount of specific information provided on their website, it remains entirely unclear as to when their term coverage concludes and if the premiums escalate over time.

    The Bottom Line

    The National Association of Insurance Commissioners and the financial strength ratings consider the consumer complaint experience data when scoring their formula. Our editorial team has determined Mutual’s Choice ratings. Group Savings Insurance Life earned 2 out of 5 stars for overall performance.

    Discover more about our rating methodology.

    Rates of policy compared to other carriers.

    Credit scores provided by A.M. Best.

    Consumer reviews from external platforms such as Facebook, Yelp, and Trustpilot.

    Current complaint rating from the National Association of Insurance Commissioners.

    Advertising Practices.


    The precision and reliability of marketing.

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