Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Feb 12, 2021

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Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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Facts You Should Know

  • Reliance Standard offers group term life insurance policies for businesses and organizations.
  • They also sell voluntary group life insurance policies for people who are looking for a little extra life insurance coverage that may not be included in their other group life policy.
  • Reliance Standard is headquartered in Philadelphia, PA.
  • This insurance company has been in business for over 100 years; it was founded in 1906.

If you’re a consumer looking for the best life insurance companies and life insurance products, this Reliance Standard life insurance review will be of little help to you. This company only sells group life insurance policies to businesses and organizations as part of employee benefit packages.

Will I need extra life insurance coverage if I am getting employer-based life insurance? Should I even get group life insurance? We’ll answer these questions and more as we dive into Reliance Standard and the life insurance policies they offer.

This company operates in all of the United States with the exception of New York.

You won’t be able to purchase life insurance directly from Reliance Standard since they sell their products to businesses. However, you may be able to purchase additional Reliance Standard life insurance through your employer.

Let’s learn more about group life insurance and Reliance Standard life insurance. Ready to compare Reliance Standard life insurance quotes? Enter your ZIP code above to see life insurance rates from the top companies in your area.

What is group life insurance?

You’ve probably heard of term life insurance or whole life insurance, but group life insurance may be unfamiliar to you. Group life insurance works like most other life insurance policies except instead of buying it individually it is bought as a group.

How can life insurance be bought as a group? That may seem confusing, but it’s simple really. Companies and organizations buy group life insurance policies for their employees. Since they buy these policies in bulk they get a great rate on life insurance.

Pros and Cons of Group Life Insurance
ProsCons
Offers protection at little to no costLimited payout
No medical questions or medical examLinked to your employer, so you lose coverage if you change jobs
It’s better than not having any coverageYou likely still need an individual policy
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What’s great for employees is that if your employer is offering you life insurance coverage it is typically at no or very little cost to you. Group life insurance can be a huge benefit for elderly people who may not be able to get life insurance any other way.

Another major benefit of group life insurance is that there is no medical exam required to get coverage.

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What insurance policies does Reliance Standard offer businesses?

Reliance Standard offers businesses and organizations a lot more than just group life insurance. The company also offers group policies for:

  • long-term disability
  • short-term disability
  • business travel accident insurance
  • dental insurance
  • vision insurance

If you are a business administrator looking for a great suite of insurance benefits to offer your employees, Reliance Standard has a lot of great insurance options besides their group life insurance products.

Is group life insurance enough coverage?

If you’re receiving Reliance Standard life insurance, you might be wondering if this life insurance coverage is enough. Depending on your life’s situation and your needs, you may find that you just need more life insurance coverage than you are getting.

In this situation, you can purchase voluntary group life insurance from Reliance Standard to round out the coverages you’ll get from your employer.

Reliance Standard allows you to buy extra life insurance coverage for yourself, your spouse, and your children. You also have the option to just buy life insurance for your spouse or children.

Voluntary group life insurance allows employees on group life insurance plans to customize their coverage more fully, get the amount of life insurance they desire, and save money with the group’s discounted rate.

If you’re interested in voluntary group life insurance from Reliance Standard you can speak with your provider to purchase this coverage. You can even set it up as a payroll deduction so you never have to worry about making payments on time.

What type of life insurance policy are group life policies written as?

Group life insurance policies are almost always written as term life insurance policies. Term life insurance policies are the most flexible, they expire after a set amount of time, and they do not build cash value. Term life insurance policies are also the most affordable.

Reliance Standard does not sell whole life insurance for groups or for individuals.

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Is Reliance Standard Life Insurance Company financially strong?

Since you have little choice over the group life insurance provider your company chooses, you may not be as concerned with the financial strength of your insurance provider. You should know that companies with strong financial ratings are more likely to pay benefits on time and in full.

Bearing that in mind, Reliance Standard has an excellent financial strength rating of A++ as calculated by A.M. Best, an independent financial review company.

If I leave my job will I lose my Reliance Standard life insurance?

One of the downsides associated with group life insurance is that if you leave or lose your job you will also lose your life insurance. Reliance Standard gives members a little bit of wiggle room in this situation.

If you lose or leave your job, Reliance Standard allows you to port, or move, your life insurance policy so that you can continue to get life insurance coverage.

You don’t want to be stuck in a position just because you don’t want to lose your life insurance coverage. With Reliance Standard’s portability options you don’t have to stay in one place just to maintain your life insurance.

Reliance Standard Life Insurance Review: The Bottom Line

Private consumers will not be able to purchase Reliance Standard life insurance products, but if your employer offers you group life insurance through Reliance Standard, this is good life insurance coverage. This company has a host of insurance products and very strong financial ratings.

Ready to compare Reliance Standard life insurance quotes? Enter your ZIP code below to see life insurance rates from the top companies in your area.