From the name, you might think Garden State Life Insurance would be located in New Jersey, but you would be wrong. The company is actually headquartered in League City, Texas. Garden State Life Insurance has been providing life coverage for more than 50 years, and as recent as June, 2010, A.M. Best gave Garden State Life Insurance a financial strength rating of “A” for Excellent. They specialize in providing life insurance policies that can be purchased and managed entirely online – and as a legitimate life insurance company, they .
Coverage Options
Garden State offers both term life insurance and whole life insurance online. Generally, their policies begin immediately once your application is approved. Instead of a medical exam, which many life insurance companies require, Garden State simply asks you a series of health questions. Garden State also offers an optional feature called the Automatic Premium Loan provision on its whole life plans. This feature protects you from losing your policy if you miss a premium payment or make a late payment. As long as you’ve had your policy long enough to accumulate enough cash value to cover the missed payment, Garden State will loan you the money instead of canceling the policy. This option is not available on term life policies because they do not gain cash value over time.