New Era Life Insurance Review

Final expense coverage from a small insurance company

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New Era Life Insurance

New Era Life Insurance

Investopedia’s Rating

Our Take

New Era Life Insurance offers only one type of life insurance policy that’s designed for seniors. Policies are issued without a medical exam and provide very low coverage amounts. But the company has a relatively low financial strength rating making it a poor choice for many consumers.

  • Pros & Cons
  • Company Overview
  • specifications
Pros & Cons
  • No-med-exam policies available

  • No customer complaints

  • Only one policy offered

  • Very low coverage limits

  • No online quotes or application

Company Overview

New Era Life Insurance is based in Houston, Texas and was founded in 1924. It’s made up of both New Era Life Insurance Company and New Era Life Insurance Company of the Midwest. The only type of life insurance New Era sells is final expense insurance. However, the company offers a wide selection of other insurance products, including dental insurance, Medicare supplement insurance, critical illness insurance, and accident insurance. You can purchase a final expense policy by calling one of New Era’s independent insurance agents.

AM Best Rating
NAIC Score (avg.)
Years In Business
98 Years
Policy Types
Final Expense
Accepts Credit Cards
Why Trust Us
Companies reviewed
Features considered
Data points analyzed
We collected over 5,000 data points from 91 life insurance companies to measure financial stability, customer satisfaction, product and feature variety, and the overall buying experience. We then evaluated each company based on 55 metrics to develop unbiased, comprehensive reviews.
New Era Life Insurance

New Era Life Insurance

overall rating

Pros Explained 

  • No-med-exam policies available: You can get final expense insurance through New Era without taking a medical exam. Your acceptance is based on a few health questions, including your age and tobacco use.
  • Few customer complaints: New Era has very little complaints from customers. This indicates that most policyholders are satisfied with New Era’s customer experience and claim handling.

Cons Explained

  • Only one policy offered: The only type of life insurance you can purchase from New Era is final expense insurance. The company does not sell any term or permanent life insurance products.
  • Very low coverage limits: Final expense life insurance policies usually have low coverage limits. The maximum amount of final expense coverage you can get from New Era is $25,000.
  • No online quotes or application: You can’t get a quote or apply for coverage on New Era’s website. You’ll have to work with an agent to purchase a policy.
  • No riders: New Era does not appear to offer any life insurance riders, so it’s not a good option if you want to add endorsements to your policy for more tailored protection.

Complaint Index

New Era had very few customer complaints for life insurance over the past three years, according to the National Association of Insurance Commissioners (NAIC). Examples of complaints include poor claim handling, unsatisfactory claim payouts, and refusal to insure.

The NAIC calculates a complaint index annually that measures the number of complaints an insurer receives relative to its size. Insurers with a number of complaints expected for their size have an index of 1.00. Insurers with fewer complaints than expected have an index below 1.00 and insurers with more complaints than expected have an index above 1.00. 

New Era’s complaint index for 2022 was 0.22. This means New Era has far fewer complaints than expected for its size. For comparison, most of the best life insurance company we reviewed also have indexes below 1.00.

Third-Party Ratings

In terms of financial strength, New Era is not one of the best life insurance companies on the market. It has a A- (Excellent) rating from AM Best, which is one of the lowest scores out of the 89 life insurance providers we reviewed with an AM Best rating. This rating indicates that New Era has a good ability to meet contractual agreements and pay claims, but it’s far from superior.

AM Best rates companies on a scale of A++ to D-. For comparison, most of the life insurance companies we reviewed have a minimum score of A, and almost all our best life insurance company picks have an A+ (Superior) rating or better.

Policies Available 

New Era Life Insurance only sells final expense insurance. These are a type of permanent policy commonly used to cover end-of-life expenses, like a funeral or medical bills, that is generally only available to older applicants. New Era’s final expense insurance does not require a medical exam but does require you to answer a handful of medical questions. The drawback is that the premiums tend to be very expensive, relative to fully-underwritten policies, and coverage amounts are low.

Depending on where you live, New Era’s final expense insurance policies may be underwritten by Philadelphia American Life Insurance, one of the providers in the New Era family of companies.

Available Riders

Life insurance riders are optional endorsements that can amend your life insurance policy and fill gaps in your coverage. New Era Life Insurance doesn’t offer any riders that you can add to a final expense insurance policy, or it doesn’t make such riders available on its website. 

Customer Service

To reach New Era Life Insurance, there are several phone numbers you can call.

If you’re an existing customer and your policy ends in “66,” you can call (888) 748-3040 for support. For all other policy numbers and inquiries, you can call (800) 552-7879. If you prefer to get in touch via email, you can send a message to

New Era customers can access basic policy management features through the online customer portal, including updating beneficiaries and making payments.

Our Methodology: How We Review Life Insurance Carriers

We designed a comprehensive ranking methodology based on consumer priorities and life insurance company fundamentals to rank more than 90 insurers across five general categories: financial stability, customer satisfaction, product and feature variety, the overall buying experience, and cost.

In order to do this, we collected over 5,000 data points and scored each company based on 55 metrics. We grouped metrics by category to see how insurers performed in each; we then weighted category scores to determine how companies performed overall.

To learn more, read our full Life Insurance Methodology.

Article Sources
Investopedia 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. NAIC. “Company Complaint Index.”

  2. AM Best. “AM Best Upgrades Credit Ratings of New Era Life Insurance Company and Its Subsidiaries.”