Shelterpoint Life Insurance Review

Offering group life insurance with multiple rider options

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Shelterpoint Life Insurance

Shelterpoint Life Insurance

Our Take

Shelterpoint is an insurance company that sells group policies for employers, and coverage is limited to individuals employed by participating companies. Eligible employees can get term life coverage, and use optional riders to cover their spouse or children. Shelterpoint has multiple optional riders available, but the company has relatively low death benefit maximums. 

  • Pros and Cons
  • Key Takeaways
  • Company Overview
Pros and Cons
  • Multiple riders available

  • No medical exams required

  • Not available to individuals

  • Limited coverage amounts

  • Only one plan option

Key Takeaways
  • Shelterpoint was founded in 1972
  • It sells group term life coverage and statutory disability benefits
  • It’s licensed in all 50 states to sell life insurance
  • Individual policies are not available
Company Overview

Shelterpoint was founded in 1972. Since its inception, it has grown into New York’s largest carrier of statutory short-term disability benefits. Along with disability benefits, it also sells group term life policies for employers. 

Today, the company’s headquarters is located in Garden City, New York. As of 2020, the company has nearly $300 million in annual premiums. While it specializes in disability benefits in New York, it’s licensed to sell life insurance in all 50 states. 

  • Year Founded 1972
  • Kinds of Plans Paycheck deduction
  • Number of Plans 1
  • Payment Plan Options Dependent on pay periods
  • Customer Service Agents
  • Phone 1-800-365-4999
  • Official Website

Shelterpoint is not one of our top-rated life insurance companies. You can review our list of the best life insurance companies for what we think are better options.

Pros Explained

  • Multiple riders available: Some group life companies don’t offer optional riders. But with Shelterpoint, you can add multiple riders to your policy to customize your plan. Riders include a spouse or dependent children benefits, accidental death benefits, accelerated death benefits, and waiver of premiums. 
  • No medical exams required: When you buy life insurance, you typically have to undergo a medical exam before being approved. But with Shelterpoint, its term life policies don't require medical exams, allowing you to get coverage without the usual hassle. 

Cons Explained

  • Not available to individuals: Unless you work for a participating employer, you aren’t eligible for coverage. Shelterpoint only sells group life policies. 
  • Limited coverage amounts: The maximum amount of coverage you can get is $500,000, which may not be adequate for your family’s needs. 
  • Only one plan option: Life insurance companies usually have multiple policies to choose from, such as term, whole, and universal life coverage. By contrast, Shelterpoint has just one term life plan. 

Available Plans

Shelterpoint sells group term life insurance to employers with two or more employees. The only way to enroll is to sign up through your employer’s human resources department.  


Term life insurance is a popular choice for a lot of people because of its affordability. When you buy a policy, you can choose a death benefit that’s paid out if you die during the covered term. With group term life insurance, the term is usually the length of your employment with your current employer. 

With Shelterpoint, you can get up to $500,000 in term life coverage. A smaller coverage amount is guaranteed issue, with the amount of coverage dependent on the number of participating employees:

  • 2–4 employees: Up to $25,000
  • 5–9 employees: Up to $50,000
  • 10 or more employees: $100,000

Available Riders

When you purchase life insurance from Shelterpoint, the company allows you to add optional insurance endorsements, also known as riders, to your plan. They will increase the cost of your premiums, but you can use them to get coverage for your family members or to access your benefits in an emergency. 

Shelterpoint has the following riders:

Accelerated Death Benefits

Included on all policies, the accelerated death benefit allows you to use some of your plan’s death benefit while you’re living if you’re diagnosed with a terminal illness. 

Spouse Insurance

With the spouse insurance rider, you can get up to $25,000 of coverage for your spouse or 50% of your death benefit, whichever is less. This rider costs extra. 

Children’s Insurance

The children’s insurance rider gives your child up to $5,000 in term life coverage. This rider is available at an additional cost. 

Waiver of Premium

The waiver of premium rider is included on all policies. If you become disabled and cannot work, this rider keeps your policy in force but waives your premium payments. 

Customer Service

Shelterpoint’s policies are only available through your employer, so you have to work with your human resources department to enroll in a policy and add or change beneficiaries. For general service and claims, you can contact Shelterpoint’s customer support department by calling 1-800-365-4999. Or, email 

Shelterpoint has very limited information for the general public; most of its information is geared toward sales representatives and employers. If you need help understanding your policy, contact your employer’s human resources department. 

Complaint Index

For those shopping for life insurance, it is important to be aware of the National Association of Insurance Commissioners’ (NAIC) complaint ratios. These numbers reflect how many complaints consumers have submitted about a company in relation to its share within this industry category. The industry standard complaint ratio is 1.0. Anything higher than that means more complaints were submitted than typical about the company, while a lower ratio would mean fewer issues were filed against them.

Shelterpoint’s complaint ratio was 0.21 for 2021; just two complaints were submitted during that year. 

Third-Party Ratings

Shelterpoint has a reputation for financial strength. AM Best, a credit rating agency dedicated to the insurance industry, affirmed Shelterpoint’s A- (Excellent) Financial Strength Rating. Such a strong rating indicates that AM Best believes the company is able to pay out its claims and other obligations. 

Because Shelterpoint only offers group life insurance, it was not included in the J.D. Power 2021 U.S. Individual Life Insurance Study that evaluated and ranked 21 top insurers. 

Cancellation Policy

As with all insurance companies, you have a free look period when you buy a policy from Shelterpoint. You have 10 days—longer in some states—to change your mind and cancel your policy without any penalties if you decide it’s not the right plan for you. 

As with all insurance companies, Shelterpoint offers a free look period when you buy their life policies. You have 10 days—longer in some states—to change your mind and cancel the policy without any penalties or fees if it's not what we're looking for after that time frame has passed!

After the free look period ends, you can cancel your policy at any time. However, you won’t receive a refund of any premiums that you paid. 


Shelterpoint does not offer online quotes. But because Shelterpoint’s policies are group policies, they are likely less expensive than individual policies you could buy on your own, and your employer may cover a portion of your premiums. Contact your human resources representative to discuss policies and pricing. 

Like other life insurance companies, Shelterpoint does require you to choose either male or female when getting a quote or submitting a life insurance application; there isn’t an option if you identify as nonbinary. While being nonbinary doesn’t disqualify you from getting life insurance, you should be aware that most insurance companies haven’t updated their underwriting processes to reflect an awareness of gender issues. 


Shelterpoint offers term life policies with multiple riders, and the company doesn’t require medical exams. However, its policies are group life plans and only available through participating employers.

If you’re looking for a term life policy you can get on your own—and still skip the medical exam—consider Haven Life. Owned by MassMutual, a major life insurance company, Haven Life sells whole life plans and simplified issue term life policies. You can get up to $500,000 in term life coverage without a medical exam, and you can buy it on your own through the Haven Life website.

  Shelterpoint Haven Life by MassMutual 
Market Share Not applicable MassMutual is the sixth-largest in the U.S., 4.57% 
Number of Plans  1
Dividends for 2021 Not available Not applicable 
Wellness Program Discounts/Quit Smoking Incentives  Not applicable Not applicable 
Service Method  Employers Online, phone
AM Best Rating  A- (Excellent) A++ (Superior)
Complaints Trend  0.21 0.04
Final Verdict

If your employer offers life insurance through Shelterpoint as part of its benefits package, it could be a good option for you. You can get up to $500,000 of life insurance protection without undergoing a medical exam, and your employer may even cover some of the cost. 

However, the company is only available if your employer offers its plans, and its coverage options are limited. If you want an individual life insurance policy or a higher death benefit, you’ll have to buy life insurance from another insurer.

Our Methodology: How We Review Life Insurance Companies

Our reviews of life insurance companies are based on a quantitative methodology that analyzes each insurer on their stability and reliability, customer service, claims experience, diversity of product lines, and cost. We compare the terms of each type of policy offered—including available coverage amounts, optional riders, and premium payment options—with that of other major life insurance companies. Lastly, we look at how third-party organizations rate the company to determine its reliability and overall reputation.

Article Sources

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  1. NAIC. "Shelterpoint Life Insurance Company - Complaint Index."

  2. Shelterpoint. "Company News."