Frequently Asked Questions Show If you overpay, the difference will be credited to your next installment (minimum due). If you underpay, your account may become delinquent. If you miss a payment, a representative of Physicians Insurance A Mutual Company may contact you by mail or phone. If your account continues to be delinquent, you will receive a written notice of cancellation for nonpayment of your premium. All clinics with a summary statement receive a copy of the detail statement, listing those providers with a premium due or premium credit. If what you are paying is different from the amount due we ask that you record the amount you intend to be applied to each individual on the return copy. If mailing your payment please enclose these changes in the envelope with your check. If you are using our E-Payment Service, please email . There are four options available:
The service charge of 2.5% is based on the current installment due for monthly payment plans. Please be aware that if the monthly installment is not paid, the current installment due will increase, as will the calculated service charge. There is no service charge for quarterly, semi-annual, and annual payment plans. Physicians Insurance prints and mails statements around the 10th of each month, 21 days before each installment due date. Please pay what the current bill indicates. Any premium changes as a result of endorsements, cancellation, or extended reporting endorsements (tail) will be accounted for on future statements. Physicians Mutual was started in 1902 by Edwin E. Elliott as a provider of health insurance to medical professionals. Since that time, it has expanded to become a national provider of life, dental, and supplemental health insurance as well as annuities and funeral pre-planning services. It provides coverage to customers in 50 states through a network of over 850 agents and through its online website. In 2012, Physicians Mutual began offering funeral pre-planning products. The Physicians Mutual family of insurance companies includes Physicians Mutual Insurance Company ($2.6 billion in assets and $269.8 million in total claims paid in 2020) and Physicians Life Insurance Company ($1.75 billion in assets and $163.2 million in total claims paid in 2020). The company headquarters is located in Omaha, Nebraska. Rob Reed is the current President and CEO of the company. Key Takeaways
Ratings and AwardsPhysicians Mutual has consistently high financial strength ratings from these insurance rating organizations:
Physicians Mutual has been a BBB accredited company since 1940. It has an “A+” rating with the Better Business Bureau. Over a three-year period (ending Dec. 29, 2020), there were a total of 62 closed complaints. This is a relatively small number of complaints about such a large company. In 2014, Weiss Research Associates published a study that measured overall customer satisfaction through customer responses. Physicians Mutual received a 97 percent satisfaction rating from customers who purchased a health or life insurance policy. In 2014, Physicians Mutual received the Arbor Day Award presented by the Arbor Day Foundation. The company has helped plant more than 250,000 trees and has a “Trees in Memory” program which plants a tree in honor of customers at the time of their death. The company has also received awards for workplace wellness as well as innovation in Medicare Supplemental Insurance options. Insurance and Financial Products
Policyholder ServicesThe company website provides a 24/7 customer service center to policyholders where they have instant access to view insurance policy information, forms to update personal information, pay your bill online, sign up for automatic bank withdrawal for policy payments, and access to frequently asked policy questions. Claims forms are available and downloadable from the company website. You can also check on the status of a claim online. The Bottom LineIn business since 1902, Physicians Mutual has stood the test of time. It has excellent financial strength and customer service ratings. As a national provider, the company offers a comprehensive line of life insurance, supplemental health insurance, annuities, and funeral pre-planning services to customers nationwide. It is a good option to consider for customers shopping for the best value on an insurance policy. Not all coverage options are available in every state. Contact InformationTo learn more about what insurance products are available, to find an agent, or to receive an insurance quote, you can visit the Physicians Mutual website or call 1-800-228-9100, 8 a.m. to 5 p.m. Central Standard Time. Is Physicians Mutual the same as Mutual of Omaha?Physicians Mutual is a mutual insurance company headquartered in Omaha, Nebraska, United States. It consists of Physicians Mutual Insurance Company and Physicians Life Insurance Company.
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Physicians Mutual.. What rating does Physicians Mutual have?Physicians Mutual has an A (Excellent) rating from AM Best for financial strength, which means that it has an excellent ability to meet policyholder obligations and pay claims. 3 Financial strength ratings are important because they indicate how likely the insurer will be able to deliver on its promises in the future.
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