PHP Life Insurance Review

Life insurance marketing company selling policies through partner insurers

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PHP Life

PHP Life

Our Take 

PHP (“People Helping People”) Life Insurance is a direct sales life insurance company that offers term, whole life, and indexed universal policies. PHP does not underwrite any of its policies but instead sells insurance provided by partner life insurance companies such as Mutual of Omaha, AIG, and Foresters Financial. With a heavy reliance on its recruiting business model to hire captive agents, as well as a commission-based sales staff, most clients are better served by purchasing from a top-rated life insurance company directly instead of buying through PHP.

  • Pros and Cons
  • Key Takeaways
  • Specifications 
Pros and Cons
Pros
  • Offers life insurance policies from other large insurers

  • Universal and whole life policies with cash value you can borrow against

Cons
  • Controversial recruiting and sales practices consistent with a multi-level marketing company

  • Limited policy details and no quotes available online

  • PHP does not underwrite its policies

  • Direct sales model—agents earn a commission to sell partner policies

Key Takeaways
  • PHP Life Insurance is not an insurance carrier but offers insurance underwritten and serviced by partner companies.
  • PHP Life Insurance was started in 2009 by Patrick Bet-David.
  • PHP Life Insurance heavily focuses on its agent recruiting model.
  • PHP Life Insurance offers four types of life insurance policies with several riders available.
Specifications 
  • Year Founded 2009
  • Kinds of Plans Term, Whole Life, Indexed Universal
  • Number of Plans 5
  • Payment Options Monthly, Annually
  • Official Website www.phpagency.com

Introduction

PHP Life Insurance offers term life, whole life, and indexed universal life insurance sold through captive agents, using a direct sales model to sell insurance and recruit employees. We researched PHP Life Insurance’s financial stability, policy plan options, riders, website tools, and customer service reviews to help you compare the life insurance policy options of PHP Life Insurance with the competition. 

Company Overview

PHP Life Insurance was founded in 2009 by Patrick Bet-David as an insurance sales and marketing company using a direct sales method and captive agents to sell partner life insurance policies. PHP partners with some of the biggest names in insurance, including AIG and Mutual of Omaha, who ultimately service and underwrite the policies.

PHP Life Insurance offers term, whole life, and indexed universal life insurance policies with a few available riders. Policy quotes and information are not readily available online and require speaking with a PHP sales representative for exact policy details.

PHP Life Insurance is licensed to sell life insurance in all 50 states, but actual availability varies by product and state. 

PHP Life Insurance heavily recruits for its sales program and may present an “opportunity” to join the PHP business as an agent during your consultation with them.

Available Plans

PHP Life Insurance offers four types of life insurance plans including term, whole life, and indexed universal plans. Details about these policies are not available without speaking directly to a PHP sales representative. Plans are provided by partner insurers, including:

  • AIG
  • American National
  • Foresters Financial
  • Columbia Life Insurance Company
  • National Western Life Insurance Company
  • Mutual of Omaha

Available Riders

PHP Life Insurance offers access to several riders for the life insurance policies it sells, though details about these riders are not available online. A rider is an optional policy enhancement that adds coverage options to an insurance policy. Rider fees are typically billed as a small percentage of the policy premium, or as a flat annual fee. Fees vary by policy, product, and options selected.

Rider options will vary per partner insurance company offered by PHP. You will need to speak with a PHP sales representative for more details on what riders are available.

Customer Service: Many Ways To Connect

PHP Life Insurance offers support over the phone, online, or by using its online chatbot. PHP Life Insurance customer service business hours are not listed, but you can contact customer service by calling (469) 917-4600 or emailing marketing@phpagency.com. You can also reach out via the online contact form

PHP Life Insurance does not directly underwrite or service life insurance policies it sells. You will need to reach out to the life insurance provider directly for support.

Customer Satisfaction: Not Listed

While most life insurance companies are rated by the National Association of Insurance Commissioners (NAIC) for formal customer complaints, PHP Life Insurance does not underwrite any policies and was not rated by NAIC. The NAIC complaint index measures the average numbers of complaints of insurance carriers and has created a complaint index score to compare with other insurance companies. An average score is 1.0, with a lower score equalling fewer complaints. Here is how two of PHP Life Insurance’s top partners were rated:

AGI received a complaint index score of 0.63 in the year 2020.

Mutual of Omaha received a complaint index score of 1.21 in the year 2020.

J.D. Power also ranks customer satisfaction of insurance companies and rated both AIG and Mutual of Omaha in its 2020 U.S. Life Insurance Study. While AIG scored lower than average for overall customer satisfaction, Mutual of Omaha scored better than most in that same study.

Financial Strength: Not Rated

PHP Life Insurance does not have a financial rating from AM Best. However, its partner companies all have an A (Excellent) rating (or better) from AM Best. These ratings are typically based on balance sheet strength, operating performance, and risk management. Good financial stability and a high rating from AM Best give customers confidence that policy benefits will be paid out when they make a claim. 

Cancellation Policy: Varies per Policy

Most states require a minimum “free-look” period for insurance policies, which allows customers to cancel for any reason and receive a full refund of premiums paid. PHP doesn’t service or underwrite insurance policies, and cancellation will depend on the insurer of the policy purchased.

After the free look period, term policies can typically be canceled but with no refund of premiums paid. Whole and universal life policies typically offer a cash value surrender amount, but they may also charge surrender fees. You will need to reach out to the underwriting insurance company directly for cancellation details.

Price of PHP Life Insurance: Not Available 

PHP Life Insurance premiums vary by policy and insurer used, and prices are not available online. Typically, term policies cost less than permanent life policies, and universal life policies allow for flexible premiums. You will need to speak to a PHP sales representative directly for pricing and policy details.

How PHP Life Insurance Compares to Other Life Insurance

PHP Life Insurance offers term and permanent life policies to individuals, but details are not available without meeting with a PHP sales representative directly. PHP Life Insurance does partner with large life insurance companies that underwrite and service each policy, and most of them are financially stable companies with a good track record.

However, PHP Life Insurance heavily recruits clients for its sales teams in a manner similar to multi-level marketing businesses, and the business is structured to pay commissions for recruiting new sales representatives. There is very little online transparency about the products being sold as well. 

Here’s how PHP Life Insurance companies to a large national insurer with transparent pricing and policy details.

PHP Life Insurance vs. Allstate Life Insurance

Both PHP Life Insurance and Allstate offer a variety of life insurance policies including term, whole life, and universal life policies. Both companies also offer no-exam term life insurance options. But while PHP sells partner insurance policies, Allstate underwrites and services all of its policies.

Here are a few other differences between PHP Life Insurance and Allstate:

  • Allstate offers transparent pricing for term policies online including the ability to apply online.
  • PHP Life Insurance is a financial services marketing company that is licensed to sell partner life insurance policies.
  • Allstate offers multi-policy discounts to existing Allstate customers.
  • PHP Life Insurance focuses on recruiting sales representatives, while Allstate focuses on selling its insurance products.

PHP life Insurance offers basic life policies through partner insurers, but Allstate offers transparent pricing, the ability to apply without speaking to an agent, and a wide range of discounts on life insurance policies. 

Read our full Allstate Life Insurance review.

  PHP Life Insurance Allstate Life Insurance
Market Share N/A Eighth-largest in the U.S., 2.80%
Number of Plans
Online Quotes Available?  No Yes (term life only)
Service Method  Email, phone, online chat Email, phone, in-person, social media
AM Best Rating  A (Excellent) or better A+ (Superior)
Complaints Index  Varies per provider  0.29 (very good)
Final Verdict

PHP Life Insurance offers basic life insurance policies through partner companies with very few details available online about these policies. As a marketing company that actively recruits sales representatives, customers may also be pitched to join the company and not just sign up for an insurance policy. As a partner, PHP Life Insurance agents are paid a commission to sell insurance policies.

Overall, clients will be better served by purchasing from a top-rated life insurance company directly. We recommend comparing costs and policies to find the best life insurance for your budget and lifestyle.

Methodology

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.