Columbian Guaranteed Issue Whole Life Insurance Policy Review

Written by Jeff Root

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Columbian Financial Group (CFG) is one of over a dozen companies who offer guaranteed issue life insurance. Below you’re going to learn all about CFG, and the Columbian guaranteed issue whole life insurance policy. Then, we’ll show you how to compare Columbian to other top companies.

What You’ll Learn

About Columbian Mutual Life Insurance Company
Columbian’s Guaranteed Issue Whole Life Insurance Policy
Pros of Columbian’s Guaranteed Issue Policy
Cons of Columbian Guaranteed Life Insurance
Who is Columbian Guaranteed Issue Best For?
Alternatives to Columbian Life Insurance Guaranteed Issue

Columbian Life Insurance Guaranteed Issue Review

When reviewing a life insurance company, we consider financial security, customer service, easy claims processes, rates, and policy benefits.

Disclaimer: We are not Columbian nor are we affiliated with Columbian. This is our honest review as independent life insurance agents. If you’d like a quote or want to apply, you must contact the company directly or visit

About Columbian Mutual Life Insurance Company

Columbian Financial Group life insurance logo

Founded in Brooklyn, New York, Columbian Mutual Life Insurance Company is affiliated with Columbian Financial Services Corporation, New Vision Services Corporation of New York and Columbian Financial Group (CFG). For 135 years, Columbian Mutual has provided customers with family and business insurance needs.

For being one of the oldest and most established companies reviewed on this website, Columbian Mutual is certainly known for its stability as a carrier. When purchasing a policy, the longevity of an insurer adds reassurance to the purchase.

Columbian Life Insurance Financial Ratings

Despite their longstanding history, Columbian was recently downgraded by A.M. Best Rating from “A-” (Excellent) to “B++” (Good).

According to A.M. Best:

“The rating downgrades reflect CFG’s declining level of capital and fluctuating operating performance that is inconsistent with “a-” rated peers. The decline in capital is primarily the result of a substantial increase in CFG’s pension liability due to the low-interest rate environment and changes in mortality assumptions. Additionally, the company’s earnings have been dampened by the costs associated with acquiring new business, the impact of interest rates on product profitability and investment yields, as well as certain one-time charges over the past several years.”

Even with a downgrade, the company is still credible. A.M. Best continued with saying:

“While CFG’s capital position has declined by over 30% from year-end 2013 to March 31, 2015, the group still remains adequately capitalized for its current business and investment risks. The organization maintains a relatively creditworthy liability profile of primarily low face amount ordinary life insurance policies, as well as a generally conservative investment portfolio.”

Today, Columbian Mutual is available in all 50 states and is sold directly through their own agents. They continue to diversify their offerings and pay over $100 million in claims each year.

About Columbian’s Guaranteed Issue Whole Life Insurance Policy

The Guaranteed Issue Whole Life Insurance policy by Columbian Mutual is intended for people with high-risk health concerns who have been declined for other types of coverage but need a smaller insurance policy to cover final expenses.

As a guaranteed issue whole life policy, there are inherent benefits and features available to customers, including:

  • Zero medical underwriting, meaning no health questions whatsoever
  • Premiums are guaranteed
  • Lifetime coverage
  • Return of premiums for non-accidental death within graded period*
  • Full death benefit after graded period*
  • Full death benefit for accidental death at any time

*The graded period for this policy is three years, which is one year longer than most other guaranteed acceptance products available today.

Policy Overview & Details

  • Face Amount & Age Range*: Ages 25 – 80 (50-75 in NY, ME, and VT)
  • Coverage amounts:
    Ages 25 – 44 | $5,000 – $10,000
    Ages 45 – 80 | $2,500 – $25,000
  • State Availability: All
  • Graded Period: 3 Years
  • Premiums Returned: 6%
  • Riders: None available

*The maximum age and face amounts do vary depending on how you pay for your policy.

Pros of Columbian Life Insurance Guaranteed Issue Policy

Columbian does offer several features that other companies don’t when it comes to their guaranteed issue product. For certain situations, they are a great fit.

Available For Younger People

This guaranteed issue product is available in smaller face amounts for younger people between the ages of 25 and 44. Even though the coverage amounts are lower, it is still coverage for high-risk young people who are typically declined altogether.

If you are under age 45, your options for guaranteed acceptance insurance includes Columbian Mutual, Great Western, AAA, and Kemper Life.

Known for Great Customer Service

Columbian Mutual has a strong record of high-quality customer service.

This is evident in positive consumer reviews online and the lack of negative reviews with the Better Business Bureau (BBB). They even have an “A+” rating from the organization despite not being accredited with them.

If you search around, you will find some complaints regarding billing, claims and certain customer service reps, but overall their service is of a higher quality than the industry average.

Why Customer Service is Important with Life Insurance

As agents, we can’t stress how important customer service is in the long run of being insured. If you have questions, need to file a claim, or change anything regarding your policy, the difference between good customer service and bad can be the difference between hours or weeks of frustration.

Of course, no company is perfect, including Columbian Mutual. But through their website and call centers, they do offer strong service to meet the needs of their customers.

Cons of Columbian Guaranteed Issue Whole Life Insurance

There are drawbacks to this policy that make it not a fit for some people in need of guaranteed issue life insurance.

Their Recent Downgrade in Financial Ratings

The recent downgrade from an “A-” to a “B++” is a bit of a red flag, especially if the downward trend continues. That said, the company is still solvent and provides an option for very young people who otherwise would not be able to get insured.

They Use a Long Graded Period with Low Interest

  • The mandatory graded period is three years, which is a year longer than most other carriers.
  • On top of this, the interest returned on premiums paid is only 6% versus the industry average of 10%.

These two points alone might be enough reason to not get a guaranteed issue product through Columbian Mutual. If you are concerned about the graded period where natural death is not covered, then we’d advise looking into other no questions policies.

Pro Tip: The graded period is the mandatory waiting period that an insured must outlive before the full policy amount is guaranteed. The only exception is if death occurs from accidental means. If death is from natural causes, then only the premiums plus interest will be paid to the beneficiaries.

Who is Columbian Guaranteed Issue Life Insurance Best for?

There is no perfect policy for all people, just like there is no perfect carrier. Columbian Mutual is one of many and may or may not be the right solution for you. With their recent downgrade in financial rating, longer graded period and lower interest payment, they are typically not the most competitive carrier available.

That said, they are one of the only options for young high-risk candidates who absolutely need a guaranteed issue policy.

If you are over the age of 45, we do suggest looking elsewhere.

Alternatives to Columbian Life Insurance Guaranteed Issue Policy

There are many alternatives to Columbian Mutual and the best way to discover them is to research them yourself, or work with an independent agent.

We often recommend AIG guaranteed life insurance, Gerber Life’s guaranteed issue policy, and others. You can find more reviews here.

Why Work with an Independent Agent

If you work with an independent agent, they can find the best deal for you and match you to a product that fits your individual needs. They aren’t tied to one company but can compare all the best rates.

Life insurance premiums are based on age, so the sooner you apply, the cheaper your quote will be. As you learned in this review of the Columbian guaranteed issue whole life insurance policy, starting sooner will get you through the waiting period faster as well.

Start by filling out the quote tool and compare guaranteed issue life insurance rates from the best companies in the industry.

About Jeff Root & Guaranteed Issue Life
About Jeff Root & Guaranteed Issue Life

Jeff Root is the author of The Digital Life Insurance Agent and host of the Modern Life Insurance Selling Podcast.

Guaranteed Issue Life is a nationally licensed agency, that has helped over 1500 consumers purchase guaranteed issue life insurance. We represent over 30 life insurance companies & transact business in every state.

All content on this site has been written by life insurance experts & licensed life insurance agents.

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[…] Columbian Financial Group does offer a guaranteed issue product for people as young as 25, but the death benefit is only up to $10,000. […]

April 29, 2019 at 10:00 pm

[…] This policy is not available in the state of New York. If you live in New York, consider a different company like Columbian. […]

December 15, 2022 at 4:10 pm
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