Multiple policies from one company - Is it wise?

What exactly are you afraid of? Saving money? Since the debacle twenty years ago (Mutual Benefit) there is more regulation of insurance companies. It is unlikely that any insurance company is going to implode without sufficient warning for you to switch insurance companies. Take the discounts but make sure you are getting a good deal. Shop around anyway and see if the discounted deal you are referring to is the best deal you can get from a qualified insurer.

My experience has been that if you want an umbrella policy you need to have your homeowners and auto policy issued by the same company.

Since you're asking for opinions I might as well give mine.

The main issue here is grouping life insurance with all the others. Those that specialize in life insurance may not offer the best rates for other products. Plus with life insurance one can get good rates if they stay with the same company for a certain number of years (based on my understanding you get locked into a rate based on the age at which you start the policy, plus if your health changes you may not be able to switch for the same rate). Not so for the other products -- it really doesn't make any difference how long you plan to stay with the seller of your auto insurance policy. They will adjust rates based on your claim history and value of the insurance being purchased.

I don't really buy life insurance other than that provided by my employer (because I don't think I need it), but if I did I would get it from one of the more highly rated companies. For auto, home, and umbrella I would group those together and go with the cheapest and shop for it every year. With a bad driving record the rates can vary significantly enough that the discount may not make it worth it to keep them together. Bottomline, pick the life insurance provider separately. It probably doesn't hurt to have all of them from the same company as long as you're sure it's a good deal.

Anoop

I didn't sign up to get to read the article, although it sure would be interesting to see what CU's "experts" say about life insurance.

One thing I've read several times over the years is that in the entire history of the United States no one has ever, ever lost a dime of their guaranteed cash value or death benefit as a result of an insurer's insolvency. Some other company has always stepped in to take over the block of business and made all payments due under the policies. Payments might be delayed because of legal manuvering, but not one person has ever not been paid. This is at odds with the quote you've given; I wonder which is true.