Assurity Life Insurance Company Review

Assurity Life Insurance Review If you are looking for some information about Assurity Life Insurance, then you have come to the right place. Assurity Life has been around since 1890 and offers a wide variety of life insurance products to fit every client needs. t online life insurance agency, we get the opportunity to shop around with many companies. Being a consumer first agency, over time we found that some products perform better than others for our clients. We work with over 60 top “A” rated companies in order to find the best fit company for our clients. Remember to always shop around when it comes to life insurance, just like you would shop around for a car, or call some references for a new nanny, take a look at some reviews for the company your inquiring. These reviews will give you a good hindsight of what they offer, their ratings which show financial stability and some other useful information. The following are some key points from the article;

Assurity Life Insurance Company has been around since 1890.
Assurity Life Company is a mutual insurance company which basically means that they are owned by its policy holders.
Assurity is among the top 10 United Way/ Comunity Health Charities as of April 20, 2015. Since 2008 they have been among the top 10 companies for overall dollars raised. They also received the United Way President’s Award.
They also received the United Way President’s Award, the same day which only goes to an organization that champions United Way through its leadership commitment, resources and time spent to solve community issues.
They offer Whole life, Term life, and Universal life insurance products.
Assurity was rated an A- which also means excellent by A.M Best Company, who is the insurance industry’s leading independent evaluator.

History

Assurity Life Insurance Company has been around since 1890, but they weren’t calling themselves Assurity yet, they called themselves Modern Woodmen Accident Association. However, Assurity was created as the result of a merger of three insurance companies. The three companies are from Lincoln, Nebraska and are Woodmen Accident and Life, Security Financial Life, and Lincoln Direct Life, these companies merged in 2007.

About Assurity Life

Now that we got the history out the way, now we can get down to their business currently. Assurity Life Company is a mutual insurance company which basically means that they are owned by its policyholders. The company has one core purpose and that is to help people through difficult times. They also state their vision on their website which is to bring peace of mind to more and more middle-income consumers and small business by providing easy access to insurance protection products. They also state that they conduct themselves with the utmost integrity, fairness, and honesty. Assurity’s corporate office is located in Lincoln’s east downtown area. They have approximately 400 employees who work out of the Lincoln, Nebraska headquarters. They also have more than $2 billion in assets and markets its life insurance and disability products.

Review and Rating 2017

Assurity is a very reputable company that has been around since 1890 and have some high ratings. They also do a lot in their community and are known to be one of the best companies to work for. The company offers products and services such as life insurance, annuities, and worksite benefits. They offer Whole life, Term life, and Universal life insurance products. Assurity was rated an A- which also means excellent by A.M Best Company, who is the insurance industry’s leading independent evaluator.

Giving Back

Like many other life insurance companies, Assurity takes great pride in their community involvement. They have been a big part of their community, which is nice to know about when searching for the best company to get coverage from. It may be the tiebreaker, so why not share this information with you? Assurity is among the top 10 United Way/ Comunity Health Charities as of April 20, 2015. Since 2008 they have been among the top 10 companies for overall dollars raised. They also received the United Way President’s Award, the same day which only goes to an organization that champions United Way through its leadership commitment, resources and time spent to solve community issues.

Products

Assurity Life offers a great variety of life insurance products but before we get into those products, we would like to give you an opportunity to understand what these products even mean. They offer Term life, Whole life, and Universal life; A Term life insurance product is protection that you need for a certain short period of time. A Whole life insurance policy is dedicated coverage that protects your family or business for your entire life. A Universal life policy provides a flexible plan that you can adjust to fit your needs.

LifeScape Whole Life

This policy allows for cash value to accumulate.
Cash value is accessible to help you with any unexpected situations.
This product has level premiums which means that your premiums will not increase or decrease regardless of health.
Your coverage amount or death benefits will also be leveled, so you cannot change and it will never decrease as long as you are paying your premiums.
Your death benefits are free of income tax, which means that the money your beneficiaries are receiving will not have to be taxed.
Your whole life policy will also earn dividends which will offer additional potential for cash value growth.
LifeScape Whole can also be an effective tool for estate planning.
The protection of this policy will also allow a company to have the finances to continue to operate after the owner’s death.
Policy riders options: Monthly Disability Income Rider, Children’s Term Insurance, Disability Waiver of Premium rider, Level Term Insurance Rider, Payor Benefit Rider, Protected Insurability Rider, Value Enhancement Rider and The Critical Illness Benefit Rider.
With this product, you have the benefit of having two additional riders free of charge. Accelerate Benefits Rider will allow you to have an advanced of your death benefits if diagnosed with a terminal illness and Exchange Privilege Rider allows an exchange of the policy for one on the life of another person.

LifeScape Simplified Whole

This policy has level premiums which means that your premiums will stay at one level and not move from that level.
This coverage allows you to build guaranteed cash values.
You may even access that cash value in case of future emergencies by borrowing the money or withdrawing it.
As long as you pay your premiums, your coverage will last a lifetime.
Offers a 30-day guarantee with no risk or obligation to this policy.
This product includes basic funeral, casket, and vault.
This does not include funeral goods or services and may not cover the entire cost of your funeral at the time of your death.
Eligible for dividend payments.
Eligible for ages 0-14.
Offers between $15,000 to $150,000 for face amount.

Term Life PRO

Term life insurance is for short term coverage.
This policy allows your premiums to be paid through payroll deduction.
Affordable plans.
Issue ages are from 18-70 for a 10-year term.
Issue ages are from 18-60 for a 20-year term.
Issue ages are from 18-50 for a 30-year term.
Benefit amounts are from $5,000-$200,000.
This policy allows you to convert your term policy into a permanent life insurance policy.
The following riders are available to enhance Term Life PRO; Accelerated Death Benefit Rider, Waiver of Premium Rider, Spouse Term Insurance Rider, Children’s Term Insurance Rider, Accidental Death Rider, Accident-only Disability Income Rider, and Critical Illness Rider.

NonMed Term 350 Life

This policy is designed to make the application process fast and convenient.
No medical exam is required with this product.
Coverage is available in amounts in $350,000.
Term periods available are 10, 15, 20, or 30 years.
Your premiums are leveled, so they will not increase nor decrease at any time of your term.
This policy provides an income tax-free death benefit.
Guaranteed benefits.
You can convert to a permanent policy at any time.
This product comes with a Living Benefit or Accelerated Benefit Rider which helps you out by receiving advanced payments of the death benefit if you are diagnosed with a terminal illness.
Some optional policy riders are; Disability Waiver of Premium Rider, Monthly Disability Income Rider, Accident-only Disability Income Rider, Critical Illness Rider, Children’s Term Insurance Rider, and Return of Premium Rider.

LifeScape Term 350 Plus

This policy provides coverage in amounts above $350,000.
They offer level term periods of 10, 15, 20 or 30 years.
Guaranteed level premiums which basically means that your premiums will neither increase nor decrease at any time of the term.
You can renew your policy when it ends with annual increases in rates, even if you’re uninsurable.
Your policy’s death benefit amount will never decrease either.
Death benefits are income tax-free as well, so no taxes for your beneficiaries when you pass.
There is an option to convert to permanent coverage.
This product allows for cash value to build and accumulate.
Accelerated Benefit Rider is included and allows you to receive an advance payment of the death benefit if you are diagnosed with a terminal illness.
Optional riders available are; Disability Waiver of Premium Rider, Monthly Disability Income Rider, Accident-only Disability Income Rider, Critical Illness Rider, Children’s Term Insurance Rider and Return of Premium Rider.

LifeScape Universal Life

Individuals ages 0-85 are eligible for this coverage.
Death benefits amounts are $250,000 and higher.
Guaranteed interest rate is 3% for this product.
This policy allows for cash value buildup and accumulation.
You can also access the cash value in case of emergencies.
No income tax is paid if the cash value is kept with Assurity.
There is a no-lapse guarantee period during the initial five years as long as you pay your premiums.
You are able to change coverage amounts or premiums to fit your needs as they change throughout your life.
Availability of withdrawals and low-cost loans from your cash value is available with this policy.
This policy also offers the Accelerated Death Benefit at no additional cost which allows you to request an advance of a portion of the policy’s death benefit if you are diagnosed with a terminal illness.
Optional Riders available are; Accident-only Disability Income Rider, Accidental Death Rider, Children’s Term Rider, Disability Waiver Rider, Face-Amount Increase Rider, Level Term Rider, and Disability Income Rider.

One Life PRO Universal Life (Worksite Life)

This product gives you an affordable option for purchasing permanent life insurance.
This policy provides a guaranteed lifetime premium that will keep the policy in force as long as you need it for.
There is a guaranteed death benefit as well.
Issue ages are 18+ for employees, 18-65 for their spouse and 0-25 for their children.
The benefit amounts for this product is $5,000-$200,000 for the employees and $5,000-$25,000 for their spouse.
Optional Riders available are; Accident-only Disability Income Rider, Accidental Death Rider, Children’s Term Rider, Disability Waiver Rider, Face-Amount Increase Rider, Level Term Rider, and Disability Income Rider.

Final Thoughts

In conclusion, Assurity Life is an all around commendable company with their products and their high rating. However, they are not your only option and you may not receive the quote you wanted from this company. Fear no longer, InsureChance is here to offer help, let us do all the comparing and contrasting for you so that you can spend that time with the people who really matter the most, your family. Here at InsureChance, we work with over 60 top “A” rated companies and enables us to have more options to fit our clients’ health and different lifestyles. Give us a call if you have any questions or concerns 888-492-1967. Welcome to InsureChance, the first online life insurance marketplace.