Assurity Life Insurance Company Review
Assurity is a mutual life insurance company that started in Lincoln, Nebraska, in 1890.
Table of Contents
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 are 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, instantly approving up to 50% of their applicants!
- 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 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 the 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 its policies through accelerated underwriting and non-medical options.
When you submit your request to us, we’ll compare Assurity to competitors so you can choose the best company for your needs.
