Is Royal Neighbors a Good Insurance Company?
Over 100 Carriers to Quote From. Here are a few of them!
Is Royal Neighbors a Good Insurance Company? At Diversified Insurance Brokers, we work with over 100 highly rated carriers to help retirees, pre-retirees, and families protect their savings, create lifetime income, and make confident financial decisions. Royal Neighbors of America is a fraternal benefit society with a long history of serving its members through life insurance, annuities, and community-focused programs. Founded in 1895, the company combines financial products with a mission-driven approach—offering both competitive policy options and member benefits that extend beyond traditional insurance coverage.
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About Royal Neighbors of America
Royal Neighbors is unique in that it operates as a fraternal benefit society, meaning policyholders are members who gain access to additional community and charitable programs. While offering competitive life insurance and annuity products, Royal Neighbors also provides grants, scholarships, and volunteer opportunities—aligning with a mission of financial protection and social good.
Popular Royal Neighbors Products
- Fixed Annuities: Guaranteed growth with protection from market losses.
- Single Premium Immediate Annuities (SPIAs): Turn a lump sum into predictable lifetime or fixed-period income.
- Life Insurance: Whole life and final expense coverage designed for long-term protection and estate planning.
Who Royal Neighbors Is a Good Fit For
- Retirees seeking stable, guaranteed income
- Families looking for affordable life insurance coverage
- Clients who value community involvement and charitable giving
- Those wanting financial products with a mission-driven approach
Pros of Royal Neighbors
- Over 125 years of financial stability
- Member benefits beyond insurance products
- Competitive fixed annuity and life insurance options
- Strong community and charitable focus
Considerations
- Product portfolio is more limited than larger carriers
- Primarily serves specific membership criteria
Our Take
At Diversified Insurance Brokers, we view Royal Neighbors as a financially strong and community-focused carrier. They are a great option for individuals who want competitive insurance or annuity solutions while supporting a mission that gives back. For retirees, pre-retirees, and families who value both financial security and social impact, Royal Neighbors deserves serious consideration.
FAQs: Is Royal Neighbors a Good Insurance Company?
What is Royal Neighbors’ financial strength rating?
Royal Neighbors holds an “A (Excellent)” rating from AM Best, affirmed in December 2024. This is the third highest rating out of AM Best’s categories.
When was Royal Neighbors founded and what type of organization is it?
Royal Neighbors was founded in 1895 as a fraternal benefit society. It was established by nine women and operates as a nonprofit, focusing on both financial protection and community programs.
What insurance products does Royal Neighbors offer?
They offer life insurance products (term, whole life, final expense, universal life) and fixed annuities. Some products and availability depend on state.
How does Royal Neighbors rank in terms of customer satisfaction and complaints?
Royal Neighbors has an A+ rating from the BBB and is accredited. There are some customer complaints related to service delays (for example, claims processing and responsiveness). Trustpilot scores are mixed based on a limited number of reviews.
What are Royal Neighbors’ strengths?
Strengths include a long history (over 125 years), solid financial metrics, a community- and member-oriented mission, and recognition in industry lists and awards.
What are some things to watch out for with Royal Neighbors?
Potential drawbacks include mixed reviews for customer service (especially around claims or paperwork delays), limited product or rider availability depending on state, and a complaint index that may be higher than some top competitors.
