Beneva Insurance Company Overview and Review

Beneva is a Canadian insurance company that offers a range of products and services to its customers.

Beneva was founded in 2019, making it a relatively new player in the insurance industry.

Beneva's head office is located in Montreal, Quebec, Canada.

Beneva offers a variety of insurance products, including home, auto, and travel insurance.

Beneva offers different life insurance products, which is helpful for individuals to find a policy that suits their needs.

Their products include extra benefits, such as the Accelerated Death Benefit and Total Loss of Autonomy Benefit, as mentioned in positive reviews.

Beneva's customer service is highly regarded, with one customer finding the claim process to be very easy to navigate and the service to be amazing to deal with.

Their policies have been growing well, with one customer's Universal Life policy experiencing great growth over the years.

Here are some key features of Beneva's life insurance products:

Beneva life insurance has a range of products to suit different needs.

Their policies often come with extra benefits, such as the Accelerated Death Benefit and Total Loss of Autonomy Benefit, as mentioned in positive customer reviews.

Customer feedback is overwhelmingly positive, with many praising the ease of the claim process and excellent customer service.

For example, one customer found the claim process to be very easy to navigate after their father passed away, and another customer was impressed with the growth of their Universal Life policy.

Overall, Beneva life insurance seems to be a reliable option for those looking for a life insurance policy with added benefits and good customer support.

Here are some key benefits mentioned in customer reviews:

Beneva's customer service has been a major concern for some policyholders.

Decreasing term coverage might not be right for everyone, and it's essential to consider this option carefully.

High call volumes and wait times have been reported by online reviewers of Beneva's pre-merger companies.

Beneva is a relatively new company, which might be a red flag for some consumers.

Reviews of SSQ, one of Beneva's pre-merger companies, highlight some concerning issues with customer service.

Here are some specific examples of customer complaints:

These complaints suggest that Beneva's customer service may not be up to par, at least not yet.

Beneva's features are designed to provide you with peace of mind and financial protection in case of unexpected events. Here are some of the key features of their critical illness insurance:

You can choose to be covered by a smaller or larger number of illnesses, which will affect your premium costs. This flexibility is great if you're on a budget or want to prioritize other financial goals.

A Beneva advisor can guide you through the process of choosing the right coverage for your needs, making it easy to get the protection you want. Their expertise can be incredibly valuable in making informed decisions.

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You may have the option to get some of your premiums refunded during your lifetime, although this can be expensive. This return of premium option is something to consider if you're looking for added financial security.

Here are some of the illnesses that Beneva's critical illness insurance covers:

You can even get critical illness insurance for your kids, so you can take care of them if they become sick or need surgery. This is a great way to ensure their well-being and financial security.

Customer feedback is a crucial aspect to consider when choosing a life insurance provider. Beneva, the company formed by the merger of SSQ and La Capitale in 2023, has its fair share of customer reviews.

Some policyholders mention that the claims process was smooth, but others experienced longer response times from customer service.

Beneva's contact us page acknowledges that some call centres are receiving a high volume of calls, leading to potentially longer response times.

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Customer service was amazing to deal with during the claim process, according to a satisfied policyholder who had a positive experience with SSQ.

A La Capitale customer review praises the company's extra benefits, including Accelerated Death Benefit and Total Loss of Autonomy Benefit.

Here are some specific examples of positive customer feedback:

Beneva offers a range of life insurance products that cater to different needs and goals.

You can adjust your coverage needs throughout your policy contract, which is a great feature for those with changing financial circumstances. This flexibility allows you to scale your coverage up or down as needed.

One of the unique benefits of Beneva's products is the option to contribute more to your policy, taking advantage of tax-sheltered investments. This can be a smart move, especially for those looking to save for long-term goals.

You'll need to keep an eye on your investments if you opt for this product, as you'll be responsible for monitoring their performance. However, the potential benefits make it a worthwhile consideration.

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Beneva also allows you to withdraw your savings, although you'll likely be taxed on the withdrawal. It's essential to understand the tax implications before making a withdrawal.

Here are some key features of Beneva's products:

Beneva, the largest mutual insurance company in Canada, has successfully deployed Guidewire ClaimCenter on Guidewire Cloud to power and simplify its claims business and related IT operations.

This move will allow Beneva to adapt quickly to changing supply chain conditions and deliver insights to its advisors and policyholders. The company was able to migrate its self-managed ClaimCenter environment onto Guidewire Cloud without any major issues.

Beneva is currently migrating its self-managed Guidewire PolicyCenter and Guidewire BillingCenter environments onto Guidewire Cloud as well. This will make the company a full Guidewire InsuranceSuite customer on Guidewire Cloud.

The cloud technology, specifically Guidewire Cloud, is at the heart of Beneva's strategy to continue being the largest mutual insurance company in Canada. With Guidewire Cloud, Beneva can stay updated on the latest technology and innovations to enhance business processes and customer service.

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Beneva finished the migration project on time and on budget, thanks to its strong partnership with Guidewire. The transition to ClaimCenter on Guidewire Cloud was seamlessly managed for the company's operations and staff.

Within the first 4 months of going live, Beneva was already able to take a version update with limited system downtime and impact to its business. This is a testament to the updatability and flexibility of Guidewire Cloud.