InsuredBetter's Delaware Life Insurance Company Score
2.5 Stars
We award Delaware Life a final rating of 2.5 out of 5 stars. The carrier has excellent official ratings by AM Best and the Better Business Bureau (BBB). However, Delaware Life is not BBB-accredited.
Delaware Life was founded in 1970. The carrier used to offer life insurance and other services, but now only focuses on various types of annuities. Products are available in all states except New York.
The carrier does not provide online claims reporting or discount information. Overall, we recommend working with your independent insurance agent to explore your other options for annuities.
Delaware Life Pros and Cons:
| Pros: | Cons: |
|---|---|
Longstanding company, founded in 1970
|
Not a BBB-accredited carrier
|
|
Products available in 49 states
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Now only offers annuities
|
|
“A+” (excellent) rating by Better Business Bureau (BBB)
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No online claims reporting
|
|
“A-” (excellent) rating by AM Best
|
No coverage available in New York
|
Delaware Life Products by Type
Delaware Life is a specialized company with a strong focus on annuities. The carrier's coverage offerings include:
- Indexed annuities
- Multi-year guaranteed annuities
- Variable annuities
Delaware Life Annuity Average Prices
Delaware Life does not make information about its average annuity rates readily available. An independent insurance agent can help find more specific pricing information from Delaware Life for you, as well as shop and compare quotes from several carriers to help you find the best deal.
What Discounts Does Delaware Life Offer?
Delaware Life does not readily provide information about its discount offerings. However, an independent insurance agent can help you find more exact discount information and premium quotes for coverage through Delaware Life. When it comes to coverage, independent insurance agents work hard to help you get the best value for your money.
Delaware Life Customer Service
Delaware Life handles most customer inquiries via phone and regular mail. The carrier provides the following customer service options:
- Phone
- Snail mail
The main hotline for customer service has the following hour restrictions:
| Days | Hours (EST) |
| Monday-Friday | 8:30 a.m.-6:00 p.m. |
| Saturday-Sunday | CLOSED |
While Delaware Life offers direct contact options, the easiest way to get set up with the right coverage for you is by working with an independent insurance agent. Independent insurance agents also handle claims and other insurance concerns for you, helping to make customer service even easier.
Delaware Life Insurance FAQs
What is Delaware Life's average claim response time frame?
Delaware Life does not specify its claims response time frame.
What is Delaware Life's customer service availability?
Delaware Life offers a phone line for prospective and current customers to get in touch with it during extended hours, Monday through Friday. The carrier also provides email, online, and snail mail contact options.
What is Delaware Life's claims process?
Delaware Life accepts claims via regular mail or email. The official website does not list a specific step-by-step process, but claims forms are available for customers to download through their online account. From there, customers can print the forms and send them to the appropriate mailing address provided on the website.
Does Delaware Life create a user-friendly experience for customers?
Delaware Life's customers are unable to file claims online, which sets the carrier quite a ways into the past when compared to many other insurance companies today. Delaware Life also does not provide options to request quotes or get matched with an agent through its website.
The carrier does have a social media presence on LinkedIn, which makes it a bit more available to customers. Overall, Delaware Life falls a bit behind in the user-friendliness department.
Is Delaware Life a good insurance company?
Delaware Life only offers annuities to new customers. The carrier has excellent official ratings by AM Best and the BBB, and a low volume of customer complaints. Overall, it can be said that Delaware Life is a good company.
Who are Delaware Life's products right for?
Delaware Life's products may be right for customers seeking various types of annuities. The carrier sells indexed, variable, and multi-year guaranteed annuities.
Sources
https://www.delawarelife.com/
https://ratings.ambest.com/DisclosurePDF.aspx?PCA=0&AMBNum=8226
https://www.bbb.org/us/ma/north-waltham/profile/life-insurance/delaware-life-insurance-company-0021-138151
