I deeply respect Matrix Direct.
I’d even go so far as to recommend them, in some cases…
The exception would be if you’ve ever had a health issue, currently, use any form of tobacco, are overweight, or are involved in any activity that could be considered risky, such as travels or occupation.
Learn How Matrix Direct Sells Life Insurance Products
Life insurance agencies are not all the same.
Some companies are very conservative in how they rate prospective clients, especially those with health issues. Health problems are abundant and some companies will penalize you for medical issues like taking blood pressure medication, while others won’t.
Some life insurance companies will treat you as a smoker if you chew tobacco while others won’t. So yes, there is a big difference between some companies.
Matrix Direct Insurance Services is one agency that can help you sort through your medical issues and recommend the best carrier for you… most of the time.
Matrix Direct Overview
I think this is a pretty decent company that has a lot of good things going for it. I know you might be a bit skeptical, but hear me out and you’ll agree that this is a company that deserves your consideration.
Matrix Direct Life Insurance is a relative newcomer in the insurance industry. Even though they’ve recently formed this company, they have built up a solid reputation and have been well received by their clients.
The key to their success is that it represents 4 very well established and reputable companies, which are American General Life Insurance, Transamerica, Prudential, and ING. Based out of San Diego, the Matrix was formed in 1995 and was previously owned by Protective Life.
Today its current CEO is Ron Harris and is owned and operated by American International Group or AIG Direct– a subsidiary of American General Life Insurance Company.
Matrix Direct Life Insurance Products
Matrix Direct is offered in over 49 states, including the District of Columbia. Before you grab a life insurance quote from Matrix, let’s go over what life insurance products they offer.
Through Matrix Direct, you can get a term life insurance policy at a competitive rate. Looking for other types of insurance? Matrix not only provides term life policies–it also offers accidental death and disability insurance.
Matrix Direct Life Insurance Rating
Many people are under the impression all insurance companies tend to be somewhat conservative and because of this, they are all seen as financially sound.
Although life insurance companies largely have a good traffic record in their financial investments and have knowledgeable life insurance agents, sometimes they make mistakes or get hit with big losses. Life Insurance companies are in the speculation market, similar to the United States Stock Market. In this respect, they are really like any other company in other industries.
Before you choose an insurance company, it really is important that you ensure they are financially sound. Insurance companies undergo financial insurance reviews by companies such as Moody’s, A.M. Best and Standard and Poor’s, but there are others as well.
How does Matrix Direct rate? Since Matrix Direct represents companies, the company itself does not have a rating with the rating companies, but the companies it does represent do have a rating. These companies, as rated by A.M. Best, break down as follows:
- American General Life Insurance: A
- Transamerica: A+
- Prudential: A
- ING: A
This means that all these companies are financially healthy and are very stable companies.
Why Matrix Direct is Not a Scam!
One of the biggest things that Matrix Life Insurance has going for it is its reputation of providing excellent quality customer service. This company is listed with the Better Business Bureau and they are rated as A+ which is about as good as you can get and speaks well about the customer services provided.
They also have a link on their site which allows customers to rate their service which is a very novel innovation.
So far Matrix Direct customers have reviewed and given the company a rating of 4.7 stars out of 5 stars. The company asks its customers to rate them based on 1. Agent Knowledge 2. Ease of doing business, and 3. Customer Service.
Additionally, the 4 top reasons why Matrix Direct clients like their service include:
- No sales pressure
- Quick Approval
Matrix Direct Website Tools
Their site, www.matrixdirect.com, is extremely user-friendly, having multiple easy-to-use platforms.
These include easy to use online application forms, digital medical exams, and quick e-policy delivery. The company also has a feature that allows for the use of voice signatures for some selected policies. All these features do a lot to enhance customer service.
Once you ask for a quote, you will provide consent for AIG to receive phone calls through the phone number and other personal information you provided.
What I Dislike about Matrix Direct
My only criticism in my Matrix Direct review is that it is somewhat restrictive because it represents only 4 companies.
What this means is that it limits a client’s options in finding more affordable rates especially where some health-related issues are concerned. There are several hundred life insurance companies out there. Some are more progressive when it comes to rating a person who has a treatable medical condition.
- Example: 45-Year-Old Male is 6’0, 220 lbs. Needs $500,000 for 20 Years
- Best Quote from Matrix: $763 per year with ING/Reliastar
- The “True” Best Quote Available: $661 per year with Genworth
- Conclusion: Matrix’s quote is 13% higher because they don’t sell Genworth policies.
The explanation for the above savings an agent like me could provide is that Genworth, a company that most independent agents offer, is by far the most lenient carrier on earth for people who are “big-boned”.
But at Genworth, he qualifies for their best rating as you see in the chart to the right.
However, I have not heard complaints about their customer service as I wrote about in my Select Quote review.
Is Matrix Life Insurance Best For You?
So, if you have a medical condition you don’t really have access to all best life insurance coverage options, and you most certainly don’t have the ability to find a company that will give you the best rates.
The best way to find the best life insurance company and to get the best rates is to use the services of an independent insurance agent such as myself as I can research and find you more affordable alternatives with reputable companies.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.