Founded in 1890, Assurity Life Insurance 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.
Assurity is a mutual organization, which means their policy owners are the shareholders in their company. Therefore, their best interest is to serve the needs of their policyholders. 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.
Assurity Life Insurance makes it easy for their policy owners to manage their accounts 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.
Assurity has very few disadvantages to speak of. As a mutual life insurance company, the rates are often slightly higher than some other options, but they are more reasonable than many other mutual providers. For those with pre-existing conditions or for older individuals, there are great no medical exam options, but other providers may be able to offer a lower rate. Be sure to shop your policy around and check ratings before making a decision.
Assurity Life Insurance 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:
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.
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.
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.
This coverage option provides a benefit if your death is caused by an accident (not an illness or natural causes).
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.
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.
One of the most important factors to consider when looking at an insurance provider is its financial strength. Choosing a provider that goes out of business before the end of your policy can leave you high and dry when it comes time to make a claim. These ratings can help give you a better picture of whether Assurity will be able to make good on your future claims down the road.
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Ultimately, Assurity is a relatively new company in comparison to others that we partner with. While this shouldn’t be a warning sign in and of itself, it shows that the company has not yet stood the test of time that others have. Regardless, Assurity focuses on its customers through ethical practices and integrity. The reasonable rates, range of products, and excellent customer service put Assurity closer to the top of our list.
Finding the life insurance provider that best fits your financial needs is much easier said than done. A significant amount of research and comparison must be done, and that’s only the first step. You will also need to determine what type of policy to purchase, how much coverage to get, what kind of riders you want to add to your policy, and much more.
Rather than do it yourself and potentially make the common mistakes that first-time life insurance customers tend to make, the best approach involves having a qualified life insurance agent handle the details. Here at LifeQuote, our agents will work alongside you to help you find the best policy for your goals. Get a free quote from us today and get started toward getting the protection you need for your loved ones.