Assurity Life Insurance Company Review

Written by Ross Quade

Company Contact Info:
Call: 800-869-0355 Toll-Free
Fax: 402-437-4395
Office Hours: 7:00-5:00, CT Monday-Friday
Email Address: [email protected]
Mailing Address:
PO Box 82533
Lincoln, Nebraska 68501

Assurity Life Insurance Company stakes its claim as a highly differentiated and inventive financial service organization that keeps their focus on valued policyholders all the while fulfilling their commitment to members by maintaining strong financial stability.

Along with their insistent commitment to maintaining their financial strength and stability, Assurity Life Insurance Company also claims to put forth relentless effort to uphold the following “traditions” within the organization. These traditions are, to protect the environment, collaborate for optimal results, support the Lincoln community, continual with technological advancements and participate in wellness activities.

However, Assurity Life claims that they primarily focus their efforts on life insurance and related policies. These policies are sold to businesses as well as individuals, where business sales happen under the arm of Assurity At Work, a division of Assurity Life Insurance Company’s sales department.

History

Assurity Life Insurance Company has collectively been around for one hundred and twenty-five (125) years, which is a compilation merger of three Nebraska insurance providers. The combined efforts and assets of Security Financial Life, Lincoln Direct Life and Woodman Accident and Life have resulted in a single operating organization of which took on the name of Assurity Life in 2007. Since these three powers have combined their efforts and strengths the united company, Assurity Life, now serves its valued policyholders nationwide. To this day, Assurity Life operates in forty-nine (49) American states and currently has four hundred (400) offices scattered throughout the nation issuing life insurance policies.

Positives

Assurity Life offers it potential customer’s options of a wide array of life insurance coverage plans, under the categories of whole life insurance, term life insurance, and universal life insurance.

• Whole life insurance

– Assurity sells their whole life insurance policies as a single premium, fully underwritten or simplified.
-Single premium – This is a pay upfront kind of policy that comes with a guaranteed death benefit, so there are no reoccurring costs.
-Fully underwritten – These policies are guaranteed to remain constant for the entirety of the policyholder’s life, and also has included investments that may be used towards estate planning.
-Simplified – Simplified policies are solely based on the client’s medical history meaning their required medical exam and also the required medical history questionnaire. Answers and findings during these processes will determine policy specifics.

• Term life insurance

-Term 350 Plus – Individuals can purchase this policy up to the age of seventy-four (74). Medical exams are required. However, this results in a lower premium as well as a higher coverage amount.
-NonMed Term 350 – This policy does not require a medical exam or completion of a medical history questionnaire. Available to those aged eighteen to sixty-five (18-65) and has a limit on the coverage benefits of $350,000. Also, because there is no medical exam expect this premium to be higher than the Term 350 Plus.

• Universal life insurance

-The Premier Universal Life – The Premier Universal Life plan is a plan that is flexible in its premium payment amounts for those policies that do not exceed fifty thousand dollars ($50,000). This plan also, after the policyholder has held the plan for eleven (11) years, offers its policyholder the option to take out a zero percent interest loan. This allows subscribers to utilize the policy’s cash value, should they deem it necessary.

Negatives

Overall Assurity Life Insurance Company appears to be a mediocre life insurance company that has no real extreme benefits that make it especially desirable, as well as not a whole lot of complaints against it. The financial stability of Assurity Life Insurance Company, as affirmed by A.M Best, is only sub-par with an A rating of “good.”

All in all, there are other companies out there that offer their potential policyholders better premium rates, more flexibility, and sturdier financial stability. Not to mention from what the BBB reflects better customer, product and warranty/guarantee service.

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Ross Quade
Ross Quade has been a licensed insurance agent since 2008. State of Texas license #1702965. He has a Bachelor Degree in Psychology from University of Minnesota and minored in Applied Economics. He has been quoted in several online publications including Huffington Post, Young Startups and various financial blogs. Ross frequently writes about issues related to the insurance and finance industry.
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