Assurity Life Insurance Company Review

A Brief Review of Assurity Life Insurance Company

Here is our Assurity Life Insurance Company review and this is our own research and opinion. Our primary goal is to help you find the best life insurance company so you can secure the best insurance rates for your life coverage needs.

Process: Phone interview is required.
Price: They are comparatively affordable than some of the largest insurers in the market. The company offers some really nice options for no exam.
Ratings: Assurity Life Insurance Company is an ‘A-‘ AM Best rated company.

Pros:

  • Assurity is a Mutual company which means that the company answers to its policyholders and not to its investors.
  • Offers a nice no exam medical plan with coverage ranging from $50,000 to $350,000.
  • Rates are priced fairly.

Cons:

  • There are many good alternative options available
  • Not much detail present about their life insurance products

Founded in 1890, Assurity Life Insurance company has been working hard to provide life insurance, critical illness insurance, and disability insurance as well as employee benefits. With their corporate office located in Lincoln, Nebraska, they are very involved in their community and strive for energy sustainability and technological advancement. They offer a variety of affordable life insurance products, as well as additional coverage add-ons for a range of life’s circumstances.

Why Assurity Life?

Assurity is a mutual organization, which means their policy owners are the shareholders in their company. Therefore, their best interestAssurity Life Insurance Company is to serve the needs of their policyholders. Assurity Life Insurance Company is also the first life and health insurer to become a Certified B Corp as of Dec 2015, “meeting the rigorous standards of social and environmental performance, accountability, and transparency.” Assurity also carries an A.M. Best financial strength rating of Excellent (A-) with a stable outlook. It has a Better Business Bureau rating of A+ and was even listed among the Best Places to Work in 2015.

Assurity Life has made to our list of Top 10 best no exam life insurance companies and is also one of the best final expense and burial expense insurance companies.

Life Insurance Products Offered By Assurity Life Insurance Company

Assurity Life Insurance Company products and services are available in all states except for New York (where products are only available through Assurity Life Insurance Company of New York). Assurity offers three different life insurance products, as well as workplace benefits and additional coverage options:

Whole Life:

Assurity’s whole life products provide lifetime coverage for a tax-free death benefit and a cash value accumulation component. These funds can help a person covered under whole life provide income for a spouse or other family member, pay for college, pay off outstanding debts, or even protect a small business.

Term Life:

With Assurity’s term life insurance coverage, the policyholder chooses a set period of time for which they need life insurance coverage. These products are best suited for people looking for a more affordable life insurance policy during critical life events, such as marriage, having kids, buying a home or starting a business.

Universal Life:

The most flexible of Assurity’s life insurance products, universal life insurance offers flexible premiums and death benefit amounts that can be changed as your family grows or their needs change. This option also provides lifetime coverage and cash value accumulation, much life whole life insurance, but with much more flexibility.

Additional Coverage Options

Accidental Death:

This coverage option provides a benefit if your death is caused by an accident (not an illness or natural causes).

Critical Illness:

If you are diagnosed with a critical illness such as cancer, heart attack or stroke, then this coverage option can provide funds to cover bills or medical costs when you are first diagnosed, to help alleviate the burden of treatment.

Voluntary Employee Benefits:

Assurity Life offers most of their insurance benefits as workplace benefits through your employer. Possible workplace benefits include all life insurance products, critical illness coverage, accident expense, cancer expense, disability income, and hospital indemnity.

>> Read: Buying life insurance through work

Sample Rates

10-year Term20-year Term30-year Term
Male, 45 yr old, $250,000$23.71$35.89$56.99
Male, 45 yr old, $500,000$41.33$62.21$102.23
Male, 45 yr old, $1,000,000$76.56$117.45$196.62
Female, 45 yr old, $250,000$19.48$28.06$43.07
Female, 45 yr old, $500,000$33.06$48.72$77.00
Female, 45 yr old, $1,000,000$60.03$91.35$147.90

Customer Service and Resources

Assurity Life Insurance Company makes it easy for their policy owners to manage their account and benefits online with their Customer Center. You can also find online claim forms on their website. Also, their contact information is readily available and customer complaints are few and far between.

We advise you to use our quote comparison tool and start comparing instant life insurance quotes online from many top life insurance companies. It gets easier to make a decision when you can see different options side by side. If you have any questions, our life insurance advisors are here to help. Give us a call at (800) 521-7873 to discuss your life insurance needs.

Sources:

https://assurity.com/

Assurity life insurance company review

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