Physicians Mutual Insurance Company

Dec 12, 2023 By Susan Kelly

Edwin E. Elliott established Physicians Mutual in 1902 to provide medical professionals with access to affordable medical insurance. Since then, it has grown to become a nationwide supplier of life, dental, and supplementary health insurance, in addition to annuities and services for funeral pre-planning. Customers in all 50 states may get coverage by contacting one of its more than 850 local agents or by visiting the company's website. In 2012, Physicians Mutual started providing services and goods related to funeral pre-planning.

Ratings and Awards

These insurance rating groups have routinely given Physicians Mutual top marks for their assessments of the company's financial strength:

  • AM Best: "A" Both the Physicians Mutual Insurance Company and the Physicians Life Insurance Company have received very high ratings.
  • Weiss Ratings: "A+" A grade of "A-" has been given to Physicians Mutual Insurance Company for its outstanding performance. The Physicians Life Insurance Company has received an excellent rating.

Since 1940, the BBB has recognized Physicians Mutual as a trustworthy company. The Better Business Bureau has given its performance an "A+" grade. A total of 62 complaints were resolved throughout three years (ending on December 29, 2020). Such a huge company has received a remarkably low number of customer complaints. A survey that examined total customer satisfaction was conducted by Weiss Research Associates and released in 2014. The study gathered answers from customers. Customers who bought a health or life insurance policy from Physicians Mutual rated their level of satisfaction at 97 percent, the highest possible score.

The Arbor Day Foundation honored Physicians Mutual with the Arbor Day Award in 2014. The award was given out that year. The company has been responsible for planting more than 250,000 trees, and it runs a program called "Trees in Memory," through which it plants a tree in memorial of clients after they pass away. In addition to winning honors for workplace wellness and innovative Medicare Supplemental Insurance choices, the company has also been recognized for its achievements in these areas.

Insurance and Financial Products

Life Insurance

Physician Mutual provides clients access to various life insurance options, including Term Life Insurance, Whole Life Insurance, and Juvenile Life Insurance.

Medicare Supplement Insurance

By helping you pay for treatments that Medicare does not cover, a Medicare Supplement insurance policy may replace the coverage gap that you now have. A representative will be able to guide you through the process of selecting the choice that best meets your specific requirements and the circumstances surrounding your medical condition.

Dental Insurance

Over three hundred different dental treatments are among those that are covered by the dental insurance offered by Physicians Mutual. Among these treatments are basic checkups, fillings, crowns, and dentures. You can choose your own provider, and there is no deductible to worry about.

Supplemental Health Insurance

Where your primary health insurance coverage stops, this policy will begin paying cash benefits to you directly to assist in covering any remaining medical expenses. A cancer insurance policy may also be purchased to assist with the financial burden of cancer-related expenses such as treatments, medications, therapists, and experts. Screenings for preventative care are included in the coverage provided under cancer insurance.

Annuities

A variety of annuity options offered by Physicians Mutual may assist you with your retirement savings and provide you with an income once you retire. There are both immediate and delayed annuity programs available to choose from.

Funeral Pre-Planning

Through the funeral pre-planning program, you can pre-pay for a funeral with a death benefit that increases over time. You can also leave additional insurance advantages to a beneficiary through this program. The funeral policy is comparable to a life insurance policy; however, the primary purpose of the funeral policy is to reimburse the funeral home for the costs associated with the funeral.

Conclusion

Since its business in 1902, Physicians Mutual has successfully weathered time. It enjoys great scores both for its financial soundness and for customer service. Customers all around the country may take advantage of the company's extensive offerings, which include pre-planning services for funerals as well as life insurance, supplementary health insurance, annuities, and other financial products and services. Customers looking for the greatest deal on insurance coverage should consider this alternative since it is a solid choice. Every state does not have access to the same variety of insurance choices.

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