Pioneer Security Life Insurance Review & Complaints: Life Insurance (2024)

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Pioneer Security Life Insurance Company is based out of Texas and offers basic life insurance options. They are a part of the Amicable Life (ALICO) group of companies. Our guide will go over everything you need to know about the company before deciding if they are right for you, including the Pioneer Life Insurance phone number.

If you are not yet ready to buy Pioneer Life insurance, compare Pioneer Security life insurance rates with others from competitive companies now by using our FREE quote tool above.

About Pioneer Life Insurance Company

Pioneer Life Insurance Company was founded in 1955 in Waco, Texas and operates as part of the American-Amicable Group, which traces its roots back to 1910 and whose landmark ALICO building is a famed part of the Waco skyline. In 2010, Industrial Alliance Insurance and Financial Services acquired the American-Amicable Group, but the company continues operations from the Waco headquarters.

Pioneer Life Insurance writes all of the common forms of life insurance, including whole life insurance, universal life insurance, and term life insurance. Their policies are basic and most are simplified issue, with no medical exam required.

All policies are sold through local agents, and the company website offers little in the way of product information for insurance customers.

Pioneer Security Life Products

Pioneer’s life insurance products are described briefly on the website. The website offers no indication as to where they sell their policies, but as part of a large insurance group, they are likely able to provide coverage across the nation either directly or through a partner company.

Whole Life

Pioneer’s whole life insurance offering is labeled as a Final Expense policy but is a standard whole life program. Issue age is from birth to 85 years, and the company does not require any medical exams for a policy issue. The policy includes accelerate benefits at no extra cost and has a cash accumulation account as well.

According to the website, there are multiple death benefit plans that are offered depending on the applicant’s health history. There are likely limits on the amount of coverage for those with a history of health problems or at an advanced age, but this is not outlined on the website.

Term Life

Pioneer life insurance term policies are simplified issue with coverage amounts from $25,000 up to $250,000. There are a few options listed including a return of premium option and the choice to convert to whole life as well.

Pioneer also offers Association Term Life for members of certain groups including government employees, first responders, hospital employees, and employees of state-funded educational institutes. This program is a 10-year renewable term policy with an issue age of 18 through 85. Again, this is a simplified issue plan with no medical exam.

Universal Life

Pioneer offers both a simplified issue universal life policy and a fully underwritten option as well. The plan with no medical exam has coverage from $25,000 to $250,000 with a 15-year no-lapse guarantee if premiums are paid.

The fully underwritten plan offers higher death benefits – with no stated maximum – and a no lapse guarantee if premiums are paid.

Both plans offer the flexible premiums and cash accumulation accounts common to universal life insurance.

Modified Life

Pioneer lists a Modified Life policy on their website that appears, based on the limited description, to be a combination of term and permanent features. (For more information, read our “Understanding Modified Whole Life Insurance“).

Pioneer Life Insurance Rates

Pioneer Security Life’s website does not provide an online quoting option and seems to offer quotes through an agent only. The website offers a form that can be submitted to contact their marketing department for more information on their products. Strangely, there is no easy to use “contact an agent” or “find an agent” form that is common to this type of insurance company.

Simplified issue policies with low death benefits are often designed to present an affordable option, however, fully underwritten coverage can often provide a better value overall. Without rates, we are unable to compare this company to others but expect that it is competitive with other similar companies and less so with the large, national insurance companies.

Pioneer Security Life Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Pioneer Security Life Insurance offers a straightforward claims process, but it’s important to note that they primarily accept claims via a toll-free number, which is available during business hours, Monday through Friday from 8:00 a.m. to 4:45 p.m. Central Time.

Customers can contact Pioneer Life Insurance’s toll-free number at 1-800-736-7311. While this phone-based claims process is convenient for some, it may not be as accessible as online or mobile app-based claims filing options offered by other insurance providers.

Average Claim Processing Time

Pioneer Security Life Insurance doesn’t provide specific information about their average claim processing time on their website. Claim processing times can vary depending on the complexity of the claim and the required documentation. Customers should contact Pioneer Security Life Insurance directly to inquire about their specific claim’s status and processing time.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is crucial when evaluating an insurance provider’s claims process. Pioneer Security Life Insurance holds an A+ rating with the Better Business Bureau (BBB), indicating a positive track record in terms of customer satisfaction and claim resolutions.

Additionally, there are only three complaints on file with the BBB in the past three years, two of which were closed in the past 12 months. These factors suggest that Pioneer Security Life Insurance generally provides satisfactory claim resolutions and payouts.

Digital and Technological Features of Pioneer Security Life

Mobile App Features and Functionality

Pioneer Security Life Insurance’s website does not mention the availability of a dedicated mobile app for policyholders. A mobile app can enhance the customer experience by providing convenient access to policy information, claims filing, and account management on the go.

Customers interested in mobile app features should contact Pioneer Security Life Insurance directly for the most up-to-date information on their digital offerings.

Online Account Management Capabilities

Pioneer Security Life Insurance’s website appears to offer limited online account management capabilities. It’s mentioned that customers can contact their marketing department for more information on their products, but there is no clear indication of a user-friendly online account portal.

Online account management can be an essential feature for policyholders to access policy details, make payments, and review policy documents conveniently.

Digital Tools and Resources

The website of Pioneer Security Life Insurance lacks specific information regarding digital tools and resources available to policyholders. Many modern insurance providers offer educational resources, policy calculators, and online policy document access to assist their customers.

To determine the extent of digital tools and resources available with Pioneer Security Life Insurance, customers are encouraged to reach out to the company directly.

Pioneer Life Insurance Ratings and Consumer Reviews

Pioneer Security Life has an A+ rating with the Better Business Bureau, and there are only three complaints on file in the past three years, two of which were closed in the past 12 months. One of the complaints listed appears to have been directed to the wrong insurance company, as Pioneer’s response states the complainant had no policy on file with them.

A.M. Best affirmed the Financial Strength Rating of A+ (Excellent) and the Long-Term Issuer Credit Rating of “aa-” of Pioneer Mutual Life Insurance Company. A strong financial rating is one of the first things you should look for in a well-managed insurance company.

There are six Pioneer Life Insurance reviews on Google, some of which may also be directed to the wrong company as they reference products Pioneer Security does not sell, such as dental insurance. The other complaints reference pushy salespeople targeting seniors, which is a common complaint about this type of insurance agent-driven company.

Overall, the complaint volume, as well as the content, are neither high nor of major concern.

Pioneer Security Life Review: The Bottom Line

With limited information regarding this company’s products and rates, it is difficult to recommend them. They do, however, have a solid backing and do not appear to have any major strikes against them in the reviews and complaints department. For those seeking simplified issue life insurance product, particularly in the Waco area, they may be a viable option.