Texas Life Insurance Review

Voluntary permanent life insurance for employees

Our editors independently research and recommend the best products and services. You can learn more about our independent review process and partners in our advertiser disclosure. We may receive commissions on purchases made from our chosen links.

Texas Life Insurance

Texas Life Insurance

overall rating

Our Take 

Texas Life is a life insurance company that offers voluntary permanent life insurance through employers. Texas Life policies include whole and universal life insurance policies, along with optional riders. If you are looking for permanent life insurance through your employer, Texas Life provides a few options to choose from. If you need a term policy or a wider range of life insurance options, you may need to look elsewhere.

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
  • Level premium permanent life insurance (until a certain age)

  • Premiums are deducted from paycheck, lowering taxable income

  • Policies offer low cash value amounts, keeping premiums low

  • Policies are portable and can stay with you when you leave your employer

  • Policies not available online or directly from Texas Life

  • Policy options are controlled by employer

Key Takeaways
  • Texas Life has been in business since 1901, the oldest life insurance company in Texas.
  • Texas Life offers whole and universal life insurance but policy options vary by employer.
  • Texas Life is licensed to sell life insurance in 49 states (not available in New York).
  • Year Founded 1901
  • Kinds of Plans Whole, universal
  • Number of Plans 2
  • Payment Options Varies (Paycheck deduction schedule)
  • Official Website www.texaslife.com


Texas Life Insurance offers permanent life insurance options through employers as a voluntary benefit for employees. We researched Texas Life’s financial stability, policy plan options, riders, website tools, and customer service reviews to help you compare the life insurance policy options of Texas Life with the competition.

Company Overview

Founded in 1901 and headquartered in Waco, TX, Texas Life is the oldest life insurance company in Texas. While the company has offered various forms of insurance over the years, it switched to a singular focus on voluntary benefits in 1998. Now a subsidiary of Wilton Re Ltd., Texas Life is one of the largest permanent life insurance providers for employers in the U.S. 

Texas offers two different types of permanent life insurance, including whole and universal policies, but does not currently offer term life policies.

Texas Life Insurance is licensed in 49 states. Policies are not available in New York.

Available Plans 

Texas Life Insurance offers whole and universal life insurance through employers. Exact policy plans and coverage amounts will vary by employer, so you will need to contact your benefits or HR department for pricing and plan options.

Whole Life Insurance

Texas Life offers whole life as a form of permanent life insurance coverage intended to cover the insured for life. Most whole life policies have a level premium guarantee until a certain age and then premiums may increase over time after that. The cost of whole life insurance varies wildly, depending on coverage amounts, policy details, cash value, and health status.

Universal Life Insurance

Texas Life offers universal life insurance with optional riders available. Most universal life policies are designed with a cash value component that can earn interest or be invested for more potential growth. The cash value can typically be borrowed against tax-free, or withdrawn early if needed (via optional policy riders).

Available Riders

Texas Life may offer riders for its life insurance policies, but this depends on your employer benefits. Riders are optional coverage designed to enhance or improve a life insurance policy. The costs of these riders will vary, so you will need to contact your benefits department for more details.

Here are a few possible rider options for Texas Life Insurance:

Terminal Illness Rider

If you are diagnosed with a terminal illness and given a short life expectancy (typically 12 months or less), you can access your policy’s death benefit early.

Children’s Life Insurance Rider

This rider typically allows the insured to extend life insurance coverage to their children. Coverage amounts and costs will vary.

Waiver of Premium Rider

Policy premiums may be waived if you become permanently disabled (unable to work). 

Customer Service: Standard Business Hours

Texas Life offers customer support over the phone or via email. Customers can also access claim forms and basic FAQs on the Texas Life website.

Basic customer service is available by calling 1-800-283-9233 ext 6814. Call center hours are Monday through Friday, 7:00 a.m. to 6:00 p.m. CST.

Most customer service questions should be directed through your company’s employee benefits department.

Customer Satisfaction: Very Few Complaints

According to the NAIC, Texas Life received a 0.16 score in the 2020 complaint index survey. (A score of 1.0 is average, and lower scores are better.) 2019 was another great year, registering a complaint index score of only 0.11. This is well below the industry average for a company their size.

Texas Life was not ranked in the 2020 J.D. Power Life Insurance Study, which ranks the top 24 life insurance companies.

Financial Strength: A+ (Superior)

Texas Life holds an A+ (Superior) ranking from AM Best. This ranking is based on Texas Life’s very strong balance sheet, strong operating performance, and favorable business profile. Texas Life also has over $35 billion in policies in force as of 2020. Texas Life’s strong financial profile gives customers assurance that it can pay out all life insurance claims submitted.

Cancellation Policy: Varies

There is a state-regulated minimum “free-look” period for insurance policies which allows customers a minimum of 10 days to cancel their insurance policy while receiving a full refund. Free-look periods vary by state. Texas Life doesn’t have an official cancellation policy, and therefore they follow the state free-look requirements in the state the policy was issued.

After the free-look period, permanent life policies may have a surrender cash value that will be paid to the insured but details vary by policy. There may also be a surrender charge to cancel the policy as well.

Please contact your employee benefits department to understand the details of canceling a Texas Life insurance policy.

Price of Texas Life Insurance: Varies by Employer

Texas Life Insurance premiums are deducted through your paycheck, giving you a tax benefit, but the price of these premiums will vary. Whether you chose a whole life policy with a high death benefit or a universal life policy with high cash value, premiums will vary widely.

Also, some employers may elect to help pay a portion of the premium as an additional benefit, which can make the price of these policies more attractive. For details on how much a Texas Life policy will cost, contact your employee benefits department.

How Texas Life Insurance Compares to Other Life Insurance

Texas Life only offers permanent life insurance through employers. The premiums paid on these policies lower your taxable income, and coverage can continue, even if you separate from your employer. But the policy options may be limited, depending on the benefits package offered by your employer. Here’s how Texas Life compares to a traditional life insurance agency.

Texas Life Insurance vs. Transamerica Life Insurance

Both Texas Life and Transamerica offer permanent insurance policies and are financially sound companies according to AM Best. But while Texas Life focuses on voluntary benefits, Transamerica allows customers to search for quotes and apply for life insurance online.

Here’s how Texas Life and Transamerica differ:

  • Transamerica offers term life policies while Texas Life does not.
  • Texas Life offers life insurance as an employee benefit, allowing customers to deduct premiums from their paycheck.
  • Transamerica allows healthy customers to receive instant coverage for term life policies online (no medical exam required).
  • Texas Life partners with companies to build customer benefits packages for their insurance products.

While Texas Life offers supplemental permanent life insurance through employers, Transamerica offers far more coverage options, as well as the ability to apply online.

Read our full Transamerica Life Insurance review.

  Texas Life Insurance Transamerica Life Insurance
Market Share N/A Eighth-largest in the U.S., 2.80%
Number of Plans 2 6
Online Quotes Available? No Yes (term life only)
Service Method Email, phone Email, phone, in person
AM Best Rating A+ (Superior) A (Excellent)
Complaints Index 0.11 (excellent) 1.31 (below average)
Final Verdict

Texas Life offers permanent life insurance through employers, giving clients access to tax-advantaged premium payments. Policies will vary by company, but some employers may even cover some (or all) of your premium as a benefit.

If you are looking for whole or universal life insurance, and your employer offers Texas Life insurance products, there may be some cost savings and tax advantages to consider. With strong financial ratings and low customer complaints, Texas Life is a good option for employer-sponsored life insurance. If you are looking for term life insurance, instant-issue policies, or flexible coverage outside of your employer, you will need to look elsewhere for life insurance.


All of our reviews of life insurance companies are based on extensive research and analysis of each company based on 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.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. National Association of Insurance Commissioners. "Texas Life Ins Co National Complaint Index Report." Accessed May 10, 2021.