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Phoenix Life Insurance Company

Phoenix Life Insurance Company is considered a boutique company that is part of the Phoneix Companies INC.  We will be going through some of the significant events in the company’s history and covering the financial health and reliability of Phoenix.  If you came here looking to get term life insurance quotes you can use the form on the side of this page.  We also have information about some of the best life insurance companies HERE.

History of Phoenix Life Insurance Company

  • 1951 - Phoenix Life Insurance was founded by a group of Hartford CT business, civic, and religious leaders under the name of American Temperance Life Insurance Co. as a company that would only insure people who abstain from Alcohol.
  • 1861 – The company changes its name to Phoenix Mutual Life Insurance Company and welcomes those who drink alcohol for the first time.
  • 1865 – Abraham Lincoln is accepted as a Phoenix customer
  • 1871 – Phoneix contributes $5,000 to survivors of the Great Chicago Fire.  This is the first documented major act of corporate giving
  • 1901-1906 – Phoenix makes major strides in employee training by introducing the first agent newsletter and first agent training course.
  • 1955 – Phoenix Life Insurance is the first company to recognize that women live longer than men and give them reduced premiums.
  • 1967 – Phoenix offers discounts to non-smokers.  This is the first time a life insurance company has encouraged non-smoking with their policies.
  • 2001 – Phoenix Life Insurance Company moves from being a mutual to a stock company.  This means they are moved to the stock market and are now traded under the symbol PNX.

As you can see PNX has a long history of innovation and creativity in the life insurance marketplace.

Phoenix Life Insurance Rating

AM Best is the premier rating company for the entire insurance industry.  They have been helping people understand the financial stability of companies  since 1899.  AM has given Phoenix Life Insurance Company a rating of B+.  This means that the company is in the “Good” category of their rating scale (to see the entire AM Best rating scale click here).  To put the rating into perspective, this is the sixth highest rating of the sixteen possible ratings given out by Best.  While a rating of anything less than an A might make some shy away from a company the B+ rating is considered to be in the range of financially secure by AM Best and should not deter anyone from using Phoenix for their life insurance needs.
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