assurity life

Assurity Life Insurance Company Review

Assurity is a mutual life insurance company that started in Lincoln, Nebraska in 1890.

Is Assurity a Good Life Insurance Company?

While smaller than some other life insurers, Assurity has over $22 billion of life insurance in force, and $2.6 billion in total assets.

Financial Strength

  • AM Best – “A-“
  • Other rating services not available

Ratings as of – AM Best – 02/2019

Assurity is a good life insurer with a lot of policy options to offer you


How Easy is it to Get a Policy with Assurity?

Assurity makes it easy to get a policy with their accelerated underwriting program, approving up to 50% of their applicants instantly!

  • The insured submits an e-application
  • Underwriting reviews publicly available info:
    • Motor vehicle reports
    • Prescription drug databases
    • Medical Information Bureau history
  • Underwriting provides instant decisions:
    • Approved
    • Referred to Underwriting
    • Rejected
  • Approved policies go immediately to issue
  • Term Lengths – 10, 15, 20, and 30-year term
  • Issue ages 18-65
  • Accelerated Face Amounts:
    • $25,000 – $500,000 – ages 18-50
    • $25,000 – $350,000 – ages 51-65
  • Underwriting Classes:
    • Preferred Plus Non-Tobacco
    • Preferred Non-Tobacco
    • Standard Non-Tobacco
    • Preferred Tobacco
    • Standard Tobacco

Are Assurity Policies Competitive?

Policy types available include term life insurance, universal life, and whole life insurance.

Policies tend to be more competitive for younger insureds and smaller policies. Illinois Mutual also offers smaller policies to compare against.

Some of the riders are competitive and worth a look if that interests you.


Term Life Insurance from Assurity

Term life insurance details:

  • Minimum Face – $25,000
  • Maximum Face – $10 million
  • Term lengths – 10, 15, 20 and 30-years
    • 10-year term – Ages 18-75
    • 15-year term – Ages 18-70
    • 20-year term – Ages 18-65
    • 30-year term – Ages 18-55 (50 for tobacco)
  • Conversion Privilege
  • Riders:
    • Accelerated Benefits Rider
    • Accident Only Disability Income Rider
    • Children’s Term Rider
    • Critical Illness Benefit Rider
    • Disability Waiver of Premium Rider
    • Endowment Benefit Rider (ROP)

Compare the critical illness benefits of Assurity to companies like North American and Sagicor.


Universal Life Insurance from Assurity

  • Issue Ages – 15 days – 85
  • Minimum Face – $25,000
  • Non-Medical underwriting ages:
    • 15 days – 17 – Up to $300,000
    • 18-45 – Up to $200,000
    • 46-60 – Up to $150,000
    • 61-85 – U to $100,000
  • Enhanced Guaranteed Surrender Value Benefit
  • Policy loans available
  • Overloan protection benefit
  • Riders:
    • Accelerated Death Benefit
    • Accidental Death Benefit
    • Children’s Term
    • Critical Illness
    • Disability Waiver
    • Guaranteed Insurability
    • Level Term Rider – 10, 20 and 30-year

Some other companies with guaranteed insurability riders include Nationwide and MassMutual.


Whole Life Insurance from Assurity

Whole life insurance details include:

  • Issue Ages – 15 days – 85
  • Minimum Face – $10,000
  • Non-Medical underwriting possible:
    • 15 days – 17 – Up to $300,000
    • 18-45 – Up to $200,000
    • 46-60 – Up to $150,000
    • 61-85 – U to $100,000
  • Dividend Options:
    • Paid-up Additions
    • Accumulate at Interest
    • Cash/Reduce Premiums
    • Paid-up Additions/Reduce Premiums
    • Reduce Premiums/Accumulate at Interest
    • Paid in Cash
    • Loan Reduction
  • Policy Loans
  • Riders:
    • Accelerated Death Benefit
    • Accidental Death Benefit
    • Children’s Term
    • Critical Illness
    • Disability Waiver
    • Guaranteed Insurability
    • Level Term Rider
    • Paid-Up Additions Riders
    • Payor Benefit Rider
  • Underwriting Classes:
    • Preferred Plus and Preferred Non-Tobacco
    • Preferred Tobacco
    • Standard Non-Tobacco
    • Standard Tobacco
    • Juvenile – for ages 15 days – 17 years

The availability of riders depends on insured age, underwriting rate class, state of residency and other factors.

See how the dividend options compare to life insurers like Northwestern Mutual and Guardian.

A single premium whole life is available as well.


Does Assurity Provide Good Customer Service?

You may reach customer service at 800-869-0355

You may receive policy information by logging in – here

Assurity corporate headquarters is located at:

2000 Q Street – Lincoln, Nebraska 68503

Conclusion

Assurity offers convenient access to their policies through accelerated underwriting and non-medical options.

When you submit your request to us, we’ll provide you with comparisons of Assurity to competitors so you can choose the best company for your needs. Thank you.


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Michael Horbal - Author

Michael J. Horbal

Owner of RiskQuoter

Too many people overpay for life insurance because they end up with the wrong life insurance company, agent, or both. That’s why I started RiskQuoter – To help you get the best life insurance rates available.

As an independent insurance agent, I’m licensed in all 50 states and the District of Columbia and offer 40+ life insurance companies to ensure you get your best rate!

By Michael Horbal – updated on – 10/02/2022

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