Dearborn Life Insurance (formerly Dearborn National Life Insurance) offers group life insurance plans as well as employee benefits insurance. Premiums are paid for by employers for basic coverage, and voluntary benefit premiums are deducted directly from employee paychecks. For workers looking for the benefits of term life or supplemental insurance with pre-tax premiums, Dearborn may be worth considering.
- Pros and Cons
- Key Takeaways
Multiple types of supplement insurance available
Basic term life coverage costs may be covered by employer completely
Premiums paid directly from paychecks using pre-tax dollars
Policy details not available online
Coverage terms and amounts may vary by employer
No permanent life insurance available
- Dearborn Life Insurance offers group life insurance coverage through employers.
- Dearborn Life Insurance is licensed to sell insurance in all 50 states.
- Dearborn only offers term life insurance, with both basic and voluntary options available.
- Dearborn Life Insurance is a subsidiary of the Health Care Service Corporation (HCSC), one of the largest health insurers in the U.S.
- Year Founded 1969
- Kinds of Plans Term, Supplemental
- Number of Plans 1
- Payment Options Payroll deduction, monthly
- Official Website www.mydearborngroup.com
Dearborn Life Insurance is an employee benefits insurance company that focuses on providing life and supplemental insurance. We researched Dearborn’s financial stability, policy plan options, riders, website tools, and customer service reviews to help you compare the life insurance policy options of Dearborn with the competition.
Dearborn Life Insurance was founded in 1969, providing ancillary benefit coverage to employees across the U.S. As a subsidiary of Health Care Service Corporation (HCSC), Dearborn Life Insurance provides life, disability, accidental death and dismemberment (AD&D), critical illness, and a range of other insurance products through employer-sponsored work plans.
HCSC is the official provider of Blue Cross and Blue Shield health insurance in Illinois, Montana, New Mexico, Oklahoma, and Texas, which serves over 15 million customers.
Policies offered are part of a basic benefits package, but additional coverage is available as an elective benefit, with premiums paid directly through employer payroll as a paycheck deduction.
Policies are available in all 50 states although actual product availability may vary.
Dearborn Life Insurance offers employer-sponsored group life insurance plans, but information about these plans is not available online. The only plan available is term life insurance, and you will have to contact your employer for specific details.
While Dearborn Life Insurance offers riders for its life insurance policies, information about the riders and costs is not available online. Customers may need to speak with their employee benefits department for more details about policy riders or contact Dearborn Life Insurance directly.
Additional Insurance Products Offered by Dearborn Life
Outside of life insurance, Dearborn also offers other supplemental insurance products to employees.
If the insured is diagnosed with a critical illness, this coverage pays out a lump sum amount to help pay for insurance deductibles, copays, treatment, or day-to-day living expenses. This policy is portable, meaning coverage can continue even if the insured separates from their employer.
Offered as a supplemental coverage option, the vision coverage helps cover the cost of eye exams, glasses, and other vision care procedures.
Dearborn does not offer vision insurance directly, but it is available through EyeMed, its partner.
Dearborn Life Insurance offers both long- and short-term disability coverage to replace a portion of the insured’s income if disabled. This coverage can be customized by employers to their specific workforce.
Accidental Death and Dismemberment (AD&D)
This policy offers an additional payout if the insured’s death is due to an accident. There is also a payout for accidents that results in loss of limbs, speech, hearing, or paralysis. It also helps cover daycare expenses, educational costs for the spouse, benefits during an extended coma, and more.
Customer Service: Basic Support
Dearborn Life Insurance offers customer support over the phone or by email. As an employee benefit, many customer service questions will be directed to your workplace benefits department.
Dearborn Life Insurance customer service does not publicly list its work hours, but customers can speak with a service agent by calling 1-800-721-7987 or emailing AncillaryQuestions@mydearborngroup.com.
Customer Satisfaction: Better Than Average
Dearborn Life Insurance receives fewer complaints than average life insurance companies, according to the National Association of Insurance Commissioners (NAIC) Complaint Index. While an average complaint score is 1.0 (the lower, the better, based on market share), Dearborn received a 0.26 score in 2020. It has improved over their 2019 score of 0.64, which is still a lower number of complaints than other companies its size.
Neither Dearborn nor its parent company HCSC was included in the 2020 J.D. Power U.S. Life Insurance Study.
Financial Strength: A (Excellent)
Dearborn Life Insurance has an A (Excellent) rating from AM Best, based on its strong balance sheet, operating performance, and risk management. This strong rating from AM Best gives customers confidence that Dearborn Life Insurance has the financial ability to pay out life insurance claims as they arise.
Dearborn Life Insurance’s parent company HCSC also carries an A (Excellent) rating from AM Best.
Cancellation Policy: Depends on Employer Policy
Most U.S. states require a minimum “free look” period for insurance policies, and Dearborn Life Insurance is held to this same standard. This is usually a 10- to 30-day period that allows clients to sign up for a policy and cancel to receive a full refund. Cancellation periods vary by state.
Since Dearborn offers group life insurance policies directly through employers, the actual cancellation policy may depend on your state and employer.
After the free look period, term life insurance policies can typically be canceled, but will not offer a refund of premiums. Check with your employee benefits department for exact details on Dearborn Life Insurance cancellation policies.
Price of Dearborn Life Insurance: Varies by Employer
Dearborn Life Insurance quotes are not available online, and premiums may be partially covered by your employer. Typically, basic coverage is part of the standard employee benefits package, and voluntary coverage is paid for by the employee through paycheck deductions.
However, prices vary by policy, coverage, and term lengths selected as well as employer-negotiated pricing.
How Dearborn Life Insurance Compares to Other Life Insurance
Dearborn Life Insurance offers standard life insurance as well as supplemental insurance through employers. All of its policies are available as paycheck deductions and premiums are paid with pre-tax dollars.
Details about its life insurance offerings are not available online and will vary per employer. Here’s how Dearborn Life Insurance compares to another well-known workplace insurance company.
Dearborn Life Insurance vs. MetLife Life Insurance
Dearborn Life Insurance and MetLife are both group life insurance providers for workplaces around the U.S. They both offer life insurance policies, as well as other employee benefits. While Dearborn Life Insurance supports businesses in all 50 states, MetLife is a much larger company, with over 90 million customers in over 60 countries around the globe.
Here’s how Dearborn Life Insurance and MetLife compare:
- MetLife offers discounts on homeowners and auto insurance.
- Dearborn Life Insurance receives far fewer complaints than MetLife.
- MetLife offers universal life insurance that can build cash value while Dearborn Life Insurance does not.
- Dearborn Life Insurance offers vision insurance, while MetLife does not.
While MetLife gives a wider range of life insurance coverage options, Dearborn Life Insurance is partnered with HCSC, which is one of the top health insurance providers in the U.S.
Read our full MetLife Life Insurance review.
|Dearborn Life Insurance||MetLife Life Insurance|
|Market Share||N/A||Largest in the U.S. by in-force premiums|
|Number of Plans||1||5|
|Online Quotes Available?||No||No|
|Service Method||Email, phone||Email, phone, social media|
|AM Best Rating||A (Excellent)||A+ (Superior)|
|Complaints Index||0.26 (very good)||1.00 (average)|
Dearborn Life Insurance offers basic life insurance coverage with a wide range of supplemental insurance available. While pricing may be partially covered by employers, premiums paid by employees are also tax deductible, coming directly out of your paycheck. Dearborn Life Insurance receives very few customer complaints relative to its size and has a strong financial strength rating from AM Best.
If you are looking for a simple way to get life insurance coverage from your employer, Dearborn Life Insurance may be a good option. If you want more coverage options and flexibility, you may want to find another life insurance policy outside of your workplace.
All of our reviews of life insurance companies are based on extensive research and analysis of each company’s offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown of what we evaluated for over two dozen companies.