Prosperity Life Insurance Review

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Updated: May 22, 2024

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MoneyGeek’s Take: Is Prosperity Right for You?

Because Prosperity offers various whole, term and universal life insurance products, the company can be a great choice for different buyer profiles. These include adults looking for permanent coverage and those who don’t want to undergo medical exams.

On the other hand, Prosperity may not be ideal for buyers who want a variety of options for universal life insurance. State Farm may be a better option since it offers individual universal life, joint universal and survivorship universal life products.

Browse through MoneyGeek’s Prosperity life insurance review to find out if this company is suitable for your coverage needs and situation.

At a Glance: Prosperity Life Insurance




A- AM Best rating


Various life insurance policy options


May not require a medical exam



Every life insurance product is not available in all states


Has three issuing companies


Limited riders


Founded in 2009, Prosperity Life Group offers a variety of life insurance products in all 50 states and the District of Columbia. However, it doesn’t issue policies directly; instead, it works with three issuing companies — S.USA, SBLI USA and Shenandoah Life. Because of this, the quality of customer service varies based on the issuing company.

According to the National Association of Insurance Commissioners (NAIC), S.USA has a complaint index of 3.51, while SBLI USA and Shenandoah Life have complaint indexes of 17.66 and 16.20, respectively. That means all of Prosperity’s issuing companies receive a higher number of complaints than average.

With Prosperity, you may have eight life insurance options:

  • Golden Promise Life Insurance
  • New Vista Whole Life Insurance
  • Legacy Benefit Individual Indexed Universal Life
  • Legacy Solution Single Premium Universal Life
  • SeniorLife Insurance
  • Family Freedom Term
  • PrimeTerm to 100 Life Insurance
  • Simple Issue Term

It’s worth noting that Golden Promise, New Vista, Legacy Benefit, Legacy Solution and SeniorLife are Prosperity’s options for permanent life insurance. These have guaranteed level premiums and cash value savings that can be accessed through loans and other withdrawal options.

Prosperity’s life insurance products offer varying coverage amounts and advantages. For instance, Simple Issue Term doesn’t require a medical exam. You will only need to answer some health history questions to get coverage.

Compare Life Insurance Rates

Ensure you’re getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.

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Key Takeaways

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Most of Prosperity’s life insurance products base eligibility on answers to health questions and certain information obtained from third parties.

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Prosperity offers two types of final expense life insurance: final expense whole life insurance and term final expense.

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Some term life policies from Prosperity are convertible to whole life up to age 75.

Prosperity Policy Options Explained

According to a 2022 Insurance Barometer Study from the Life Insurance Marketing and Research Association (LIMRA), 68% of insured adults with financial dependents feel more secure after getting life insurance. Prosperity can help you join this group with its eight life insurance products. Explore each policy and determine which option is best suited for your particular needs.

Term Life Insurance Options From Prosperity

Term life insurance can be an affordable solution to your life insurance needs. It provides coverage for a predetermined number of years at a low cost, making it ideal for covering your final expenses or paying off outstanding debts.

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    PrimeTerm to 100 Life Insurance

    Prosperity’s PrimeTerm to 100 life policy has a 20-year initial term, renewable up to age 100. It’s designed for individuals between 40 and 80 years old. Coverage ranges from $5,000 to $30,000, with annual reductions starting in the 21st year of your term. You don’t have to undergo a medical exam to get coverage, and you can pay your premium annually, semi-annually, quarterly or monthly.

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    Family Freedom Term Life Insurance

    With Family Freedom Term, you can have a level term period of 10, 15, 20, 25 or 30 years. Coverage varies from $50,000 to $500,000, depending on your age. You may be eligible for this policy based on your answers to health questions and certain information obtained from third parties.

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    Simple Issue Term Life Insurance

    Simple Issue Term is available to New Yorkers between the ages of 18 and 60 with coverage of up to $350,000. Premiums are guaranteed to remain level during the first 10 years; they increase at five-year intervals if you renew. Additionally, this policy requires no medical exams and is convertible to whole life up to age 75.

Overall, term life insurance is ideal for buyers who have short-term and significant financial needs. Its affordable premium also makes this type of life insurance a good option for those who have other financial obligations.

Whole Life Insurance Options From Prosperity

Whole life insurance policies provide lifelong coverage with fixed premiums and death benefits. They also accumulate a tax-free cash value that is accessible through loans and other withdrawal options. If you no longer need coverage, you have the option to surrender your whole life policy and keep the cash value amount.

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    Golden Promise Life Insurance

    The most significant advantage of purchasing whole life insurance is that your beneficiaries are guaranteed a death benefit, regardless of when you pass. The only requirement to keep it active is consistent premium payments. And level premiums mean it won't change over time, even if your health condition worsens.

    Prosperity’s Golden Promise insurance is issued through SBLI USA and is available in New York only. It has guaranteed level premiums and coverage amounts from $1,500 to $35,000. Plus, it comes with a cash value that may be borrowed against at any time.

    Depending on your answers to medical questions, you may qualify for one of three plans under Golden Promise:

    • Level: The death benefit is equal to the face amount of your policy from day one.
    • Graded: The death benefit is equal to 30% of the face amount during the first year of coverage and 70% during the second year.
    • Modified: The death benefit is equal to 110% of your annual premium during the first year of coverage and 231% during the second year.
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    New Vista Life Insurance

    Issued through S.USA, New Vista provides permanent coverage of up to $35,000, depending on your state. Similar to Golden Promise, this policy may have a limited death benefit in the first two years of coverage based on the plan you qualify for: level, graded or modified. In the event of an accidental death, the full face amount will be paid from the first day of coverage.

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    SeniorLife Insurance

    SeniorLife is a guaranteed issue whole life policy, meaning there are no health questions or physical exams required for eligibility. You just need to be between the ages of 50 and 75 to get coverage. However, it pays limited death benefits for non-accidental death during the first two years and full death benefits for any cause of death thereafter.

If you want lifetime financial protection for your family, whole life insurance is worth considering. This policy type is ideal for meeting permanent needs, such as supporting financially dependent adults. It’s also a good fit for those who want to take advantage of the cash value savings.

Universal Life Insurance Options From Prosperity

Similar to whole life insurance, universal life insurance provides lifetime coverage. However, it has flexible premiums and adjustable death benefits, depending on your unique circumstances.

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    Legacy Solution Single Premium Universal Life Insurance

    With Legacy Solution, you have a guaranteed return of premium as long as there are no loans or withdrawals taken throughout the life of the policy. You also have a guaranteed minimum interest rate of 3.5% for a certain period of time. Coverage starts at a minimum of $15,000 for individuals from 50 to 80 years old.

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    Legacy Benefit Individual Indexed Universal Life Insurance

    Legacy Benefit is available for issue to individuals aged 40 to 80 years old. Minimum coverage is $15,000 or the premium required to purchase the minimum $35,000 amount of insurance, whichever is greater. It offers a guaranteed return of premium and no-lapse guarantee, provided you have not taken any loans or withdrawals throughout the lifetime of the policy.

If you’re looking for flexibility, universal life insurance may be the best policy type for your needs. It’s also preferable for buyers who can afford to pay larger premiums upfront for cash value growth.

Final Expense Insurance Options From Prosperity

Final expense life insurance is designed for seniors or those in end-of-life circumstances. It provides coverage for final expenses and other financial obligations you may leave behind.

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    Golden Promise Life Insurance

    Golden Promise includes an Accelerated Death Benefit rider for terminal illness, which provides access to a portion of the death benefit if the policyholder becomes terminally ill. However, this policy is only available in New York.

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    New Vista Whole Life Insurance

    New Vista also has the Accelerated Death Benefit rider for terminal illness, but this feature is not available in California.

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    PrimeTerm to 100 Life Insurance

    Although it’s a term life policy, PrimeTerm to 100 has a cash value component that accumulates over time. It also features a Social Security billing option, allowing you to schedule your premium withdrawal to correspond with the deposit of your Social Security benefits. This way, you can ensure your premiums are collected when they are due.

Final expense life insurance is ideal for seniors who want to help their families in paying for expenses related to their passing, such as burial and funeral costs. It’s also a solid option for those who prefer answering health questions over undergoing medical exams to obtain coverage.

Compare Life Insurance Rates

Ensure you’re getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.

Insurance Rates

Prosperity’s Life Insurance Riders

At an additional cost, you can add a rider to your life insurance policy to enhance your benefits and protection. Prosperity has four available riders:


Accelerated Death Benefit Rider

This allows you to access a portion of your death benefit if you are diagnosed with a terminal

Accidental Death Benefit Rider

This increases the death benefit if the policyholder dies due to an accident.

Waiver of Premium Rider

Adding this rider to your policy will waive your premiums in the event you become
permanently disabled due to an accident or illness.

Child Term Rider

This provides $5,000, $10,000 or $15,000 in term coverage for up to five eligible children.

How to Get Prosperity Life Insurance

Once you know which policy options are available to you, it’s vital to know how to purchase life insurance and what to do if your application is denied. We cover both in the next two sections.

How to Buy Life Insurance From Prosperity

Buying life insurance can be done online or over the phone with an agent. We outlined some important steps you need to take when getting life insurance coverage.

Do Your Research

Conducting research can help you find the perfect coverage at a price your budget can cover. Make sure to check each insurer’s policy options, terms, coverage amounts and eligibility requirements. You may also contact an agent at Prosperity to explore the options available to you.

Compare Quotes

It may be tempting to jump on the first offer you receive, but it’s best to hold off on sending your application. As a rule of thumb, compare quotes from different insurers to find a policy that provides the best value for your money.

Health Check

Some insurance companies necessitate health checks to see if you’re eligible for their life insurance policies. With Prosperity, you may only need to answer some health questions to qualify for coverage. You may also need to provide certain information for risk assessment.


Once your application for life insurance is approved, you will be issued your policy. You may get in touch with your Prosperity insurance agent to go over the policy details.

What to Do if Prosperity Insurance Denies You Coverage

It’s possible to get denied after applying for life insurance with Prosperity. If this happens, don’t be disheartened. Follow these steps to obtain coverage and avoid getting denied again.

Contact Your Broker

Don’t hesitate to call your insurance agent or broker to find out the reason you were denied coverage. This could be because of your health issues or age.

Lifestyle Changes

Once you know what led to this particular outcome, consider making some lifestyle changes to improve your health. Keep in mind that the healthier you are, the more likely it is to get life insurance coverage and cheaper rates.

Explore Other Options

Having a small amount of life insurance is better than none at all. If you were denied whole life coverage, you might be able to get insured by purchasing a different type of life insurance, like final expense life insurance.

Frequently Asked Questions About Prosperity Life Insurance

Find out if Prosperity is the best life insurance provider for your and your family’s needs by reading our answers to some of the most commonly asked questions.

Can you borrow from your Prosperity life insurance policy?
What’s the maximum amount of life insurance coverage available from Prosperity?
Do life insurance policies from Prosperity pay dividends?
Can you get life insurance from Prosperity if you have cancer?
Do life insurance policies from Prosperity cover death by drug overdose?