Boston Mutual Life Insurance offers individual policies as well as group life benefits. It's an excellent choice for those looking for dividend-paying life insurance that pays dividends or non-medical exam coverage that is permanent. However, other individual life insurance options aren't as extensive, and its online capabilities aren't as good compared to its competitors.

Complaint Index

Boston Mutual Life Insurance has fewer complaints than is expected for an organization of this size, according to data from the NAIC Complaint Index. The index of complaints determines the number of complaints an insurer gets in proportion to its size. To better understand Boston Mutual's customers' experience with Boston Mutual, we determined the three-year average for complaints of 0.514. This score indicates that it has less complaints than would be expected from company of its size. To give you an idea, most of top life insurance companies we examined also have complaints that are less than 1.00.

Third-Party Ratings

The company was awarded the A (Excellent) rating from AM Best, a rating agency that analyzes insurance businesses' financial and credit capacity. The AM Best ratings use factors like the strength of the balance sheet, operating performance, and total debt. The highest letter grade offered is A+ (Superior); Boston Mutual got the third highest rating from the agency. Although Boston Mutual does not have the highest letter grade, an A grade indicates its ability to fulfill its contractual obligations.

Policies Available

The company offers group term and whole life insurance, but the only policy available to individuals includes whole life. You could be eligible to be considered for the whole life insurance policies of the company without having to take a medical exam.

Term Life Insurance

The term life insurance policy is a short-term life insurance policy that provides security for a set period, usually in the range of 10-30 years in five or ten-year increments of five or 10 years. The rates are fixed for the entire period, and the beneficiary is paid an inheritance if you die before the policy runs out.

Whole Life Insurance

Whole life insurance is a type of permanent life insurance that offers protection for life. It comes with low premiums, a guaranteed death benefit, and a Cash Value component. Each time you pay your premium, part of the funds are deposited into an account called the "cash value." It increases at a fixed rate. You can choose to obtain a policy loan using your cash value.

Available Riders

Life insurance is an endorsement that can be added to your insurance policy to provide additional protection. Some life insurance riders can be integrated into your insurance policy for no additional cost, while others can be added at a one-time or monthly fee. Here are the life insurance riders available at Boston Mutual.

Child Term Rider

A child's term rider will provide a limited amount of life insurance to your eligible children, including stepchildren and legally adopted kids. Using this rider to protect children as young as 15 days old is possible. Coverage up to age 25. At the age of 25, the child may change the rider into Life insurance for individuals with an upper limit of $40,000, which is five times the benefit of the rider without undergoing medical examination.

Waiver of Premium Rider

An exemption from premiums could temporarily suspend your life insurance premiums should you suffer a total disability and cannot work. Utilizing this rider will not affect the policy's life insurance protection if you have to utilize it. It is available to policyholders between the ages of 16 and 55.

Accidental Death Benefit Rider

A rider for accidental death can pay another life reward (in addition to the basic policy's death benefits) when you die, and your death was caused by an accident that qualifies as qualifying. This rider is available to those aged between 15 days to sixty years of age.

Terminal Illness Rider

With the terminal illness rider, you can collect up to $50,000 as a death benefit while living if you're diagnosed with a terminal illness and an expected life expectancy of one year less or more.

Long-term Care Rider

Boston Mutual's long-term care insurance is known as "catastrophic loss rider" (CATLOSS); it is included under group life policies for those aged between 18 to 70. The rider lets you take money out of your death benefit if the doctor finds that you cannot do two or more tasks in daily life.