If you’re considering Assurity Life Insurance Company as a potential provider, it’s essential to gather all the information you need to make an informed decision. That’s where this review of Assurity Life Insurance Company comes in, providing valuable insights to help you determine whether this company is the right fit for you.
This review addresses a few key questions you may have about Assurity Life Insurance Company, such as whether they offer policies that align with your unique needs, how they’re rated in the industry, and how they perform as an overall company.
By exploring these questions, you can gain a better understanding of Assurity Life Insurance Company’s strengths and weaknesses, enabling you to make an informed decision about whether this provider is the right one for you.
So, whether you’re looking for a term life insurance policy or whole life insurance coverage, this review can help you evaluate Assurity Life Insurance Company’s offerings and decide whether they meet your needs.
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Review of Assurity Life Insurance Company
Although Assurity does not currently ranks as one of our top life insurance companies, it does have its place as a bonefide option for specific situations.
About Assurity Life Insurance Company
At IBUSA, we love Assurity. The company makes our top 10 no exam life insurance companies list.
Assurity Life Insurance has been serving the American people for more than 125 years.
They are located in Lincoln, Nebraska, and have American values like building meaningful relationships, giving proper customer care, and reinforcing financial strength at the core of their values.
You can see these values in their products and services.
Assurity Life Review: Pros
B Corporation Status
Assurity is a certified B corporation. B (or Benefit) corporations are companies that adhere to best practices for social sustainability and environmental standards. This means that Assurity makes the effort to promote a better society and a better world. This is a huge plus!
Assurity is a mutual company. The main advantage of being a mutual company is that they aren’t answerable to investors or stockholders – so reaching certain targets doesn’t become their end goal. Instead, Assurity answers to policyholders – and the end goal becomes customer satisfaction.
Assurity’s Strengths: They are a great company to use when you need a no medical exam policy or a final expense policy. They are also a great choice for term and whole life for certain ages because they offer some of the best priced policies – but remember, only at certain ages. To know more, contact an expert.
Assurity Life’s Ratings
Although not one of the highest rated insurance companies, Assurity Life’s financial strength was rated “excellent” by one of the most reliable rating companies in the United States: A.M. Best. A.M. Best looks at things like financial strength, stability, customer satisfaction, and prospect for the future.
As of April 2020, A.M. Best has rated Assurity Life with an A- rating. This is considered an “excellent” rating and should reassure potential consumers that Assurity Life is a great company!
Assurity Life Insurance Policies
Assurity offers a lot of different life insurance products. These are some that you should know about.
LifeScape NonMed Term 350
Let’s break it down: this is a no medical exam life insurance policy that is fully underwritten.
You will not:
- Take a medical exam
- Give a blood sample
- Answer medical questions
- Have MIB, pharmacy and MVR info checked
LifeScape NonMed Term 350 Snapshot:
- Eligibility: 18-65
- Death Benefit: $50,000-$350,000
- Term Lengths: 10, 15, 20, and 30 years
- Rate Classes: no preferred rate classes; underwriting classes- Select Plus, Select, and Standard
- Riders Available: critical illness and many more
- You can convert this policy up until 65 years of age
LifeScape Term 350 Plus
This is a guaranteed premium term life insurance policy that is fully underwritten.
LifeScape Term Plus Snapshot:
- Eligibility: 18-74
- Death Benefit: Up to $350,000 for ages up to 65; Up to $100,001 for ages up to 74
- Term Length: 10, 15, 20 and 30 years
- Rate Classes: Preferred & Preferred Plus available
- Available Riders: multiple, including critical illness, accelerated benefits rider, disability waiver, childrens term insurance, etc.
- This policy can be converted up to age 65.
Assurity Final Expense Insurance
Assurity is a top provider of final expense insurance, offering a whole life insurance policy with fixed premiums, fixed death benefit protection and cash value growth under its LifeScape product line.
LifeScape Whole Life Insurance
This is a fully underwritten life insurance that will last for your entire life so long as you pay the premiums. You will be guaranteed:
- Fixed premiums
- Fixed death benefit
- Cash value accumulation
LifeScape Whole Life Insurance Snapshot
- Eligibility: 15-85 years old
- Available Riders: multiple, including accelerated benefits, value enhancement, disability waiter, critical illness and many others
- Available Preferred Rate Classes: Preferred & Preferred Plus available
LifeScape Graded Benefit Plan
Similar to Assurity’s level benefit plan above, its graded benefit plan is whole life insurance, that builds cash value and offers a fixed premium and a fixed death benefit.
A graded benefit plan means the policy has a waiting period for payouts due to natural causes. If you die due to an accidental death, the policy pays out the full face amount from day one.
However, for death due to natural causes, the full face amount won’t be paid until the 3rd year of the policy and onward. Rather, if you die in year one the policy will pay 40% of the face amount, and in year two, the policy will pay 70% of the face amount.
The graded benefit plan is available for ages 40-80, with face amounts ranging from $5,000 to $35,000, based on age.
Assurity Life: Potential Cons
As you may have gathered from this Assurity Life Insurance review, we really like this company. They offer great life insurance products at great rates, and most customers are really happy with what they get. It’s hard for us to point out any negative aspects, because they’re solid players in the insurance industry.
There are Alternatives
The only real drawback of purchasing a life insurance policy from Assurity Life is that you are committing to one life insurance company. That’s well and fine, but they may not be the absolute best for your case.
Purchasing a life insurance policy is a very personal thing – what’s right for your neighbor is not necessarily right for you.
And while you’re likely to be happy with a life insurance policy from Assurity, you may be missing out on a better product for your circumstance.
How do you know which is best?
The only way to find out which life insurance policy is truly best for you is to do a lot of comparing and contrasting of what each life insurance company has to offer.
It’s a very time consuming process and quite frankly, pretty difficult to do if you don’t work in the life insurance industry. That’s why you should ask for an expert’s help.
At our life insurance agency, our mission is to help you find the best possible coverage for your unique circumstances. With extensive knowledge of over 60 top-rated life insurance companies in the United States, we’re well-equipped to navigate the market and identify policies that meet your specific needs.
While Assurity Life Insurance is one of the great companies we work with, we don’t automatically recommend them to every client. Instead, we take the time to get to know you and understand your individual requirements. Once we have a clear understanding of your situation, we can make informed recommendations that are tailored to your needs.
If Assurity Life Insurance is the right fit for you, we’ll gladly recommend them as an option. However, if we feel that another company is better suited to provide you with an excellent life insurance product, we’ll tell you about them too.
Our goal is to help you get the best possible life insurance coverage, and we work tirelessly to ensure that you find the policy that meets your needs and budget. So if you’re looking for a reliable life insurance agency to guide you in your search, please don’t hesitate to give us a call.