Written by
Brian Greenberg
CEO / Founder & Licensed Insurance Agent
Last updated: April 16th, 2023
Reviewed by
Grant Desselle
Licensed Insurance Agent
Table of Contents
Assurity Life Insurance was born in 2005 as the result of a three-way merger between Woodmen Accident and Life, Security Financial, and Lincoln Direct Life. Despite being relatively new, the company offers a solid array of term, whole, and supplemental life insurance policies, as well as offering policies for the workplace.
Applicants can receive introductory quotes through the company’s website, though bear in mind that these rates are not locked in unless you meet with one of their agents.
| Assurity Life Insurance Company Details | |
|---|---|
| A.M Best Rating | A-(Excellent) |
| S&P Rating | N/A |
| BBB Rating | A+ |
| Customer Service Phone | 800-869-0355 |
| Website | www.assurity.com |
| Address | Assurity Life Insurance Company 2000 Qa Street (68503) P.O. Box 82533 Lincoln, NE 68501-2533 |
| Company | Info | Recommendation | Quote |
|---|---|---|---|
| Term Life Insurance | Possible Instant decisions up to $500,000 | Those in good health can get approved instantly for coverage. | Go |
| Accidental Death | Up to $350,000 in coverage. No health questions. Apply online or with an agent. Brochure | A very inexpensive policy that pays out for accidental death only. For ages 18 - 70 years old. | Go |
| Disability Insurance | Short-term disability. Benefit up to $1,000 a month. Apply online. | For those looking for short-term disability to own individually. | Go |
| Critical Illness Insurance | Coverage for cancer, heart attack, stroke, and Alzheimer's. $5,000 - $75,000 in coverage. Cash payouts. | Very affordable protection for those with family histories. | Go |
| Term Life Details | |
|---|---|
| Length of Coverage | 10, 15, 20, and 30-year periods |
| Minimum Coverage: | $25,000 |
| Maximum Coverage: | $10 million |
| Estimated Time to Approval: | Immediate (with accelerated underwriting) |
| Product Features: |
|
Assurity offers level term life insurance policies to applicants between the ages of 18 and 65. Coverage ranges from $25,000 to $10 million and is offered in terms of 10, 20, or 30 years. Coverage is level-term, so customers can expect their death benefit as well as their monthly premium to remain constant throughout their term.
The policy has a conversion option, so policyholders can convert to a permanent policy at any point during their term.
Accelerated underwriting is also available, which eliminates the need for a medical exam, but eligibility varies by both age as well as overall health. These no medical exam life policies are also capped at $500,000 for applicants between the ages of 18 and 50, and capped at $350,000 for applicants over 50.
Whole life insurance offers customers a guaranteed death benefit, as well as a guaranteed rate for cash value accumulation. Policyholders have the option to pay for their policy in a lump-sum payment, over a lifetime, or through a predefined payment plan.
Assurity doesn’t list a separate category for final expense insurance, but they do offer simplified whole life plans that could be used for final expense insurance for elderly applicants.
Assurity offers guaranteed universal life policies, which provide flexible premium options and the choice of a level, increasing, or decreasing death benefit. A single-pay option is also available. Policyholders can also borrow from the policy’s cash value and apply this to the premium payments.
Assurity offers Accidental Death and Dismemberment (AD&D) Coverage, which provides a cash benefit if the policyholder loses his or her life in an accident. The specificity of this plan means that policyholders can expect to pay lower monthly premiums and still enjoy a guarantee of benefits. This policy can also be purchased alongside other insurance policies.
If you are sick or otherwise unable to work, a disability insurance policy ensures that you receive a monthly income.
If you are diagnosed with a qualifying illness, you can receive a lump sum payment to cover medical expenses and other financial obligations.
Assurity offers many of these products to businesses and companies who wish to provide their employees life insurance options:
Typically, group insurance policies purchased through an employer can translate into lower monthly premiums as compared to purchasing a policy from the open market. The details, however, can vary by employer and by state regulation. Ask your employer or human resources department about workplace insurance plans.
Assurity offers many riders that can be applied to its term and permanent policies. Common riders include:
In addition to these riders, Assurity also offers discounts to customers who meet the following conditions:
These discounts are applied at the time of issue and may be rescinded if and when the policyholder’s age, health, or lifestyle changes.
The company also has a reputation for giving back. In addition to assisting with events such as blood drives and local charities, employees may receive time off for participating in community events.
Brian is the founder and CEO of Insurist and carries Life, Health, and Property & Casualty licenses in all 50 U.S. states. Since 2013, Brian has been a member of Million Dollar Round Table, a designation for the top 1% of financial advisors worldwide. Brian has been featured in Yahoo! Finance, Money.com, Entrepreneur.com, Life Happens, Forbes, MSN, and Good Financial Cents. Brian’s goal is to show customers the best products, the quickest answers to their questions, and provide expert advice.
Grant's past experience includes work as a licensed sales agent for Hagerty Insurance. He has reviewed thousands of existing auto policies across the nation and issued hundreds of new ones on everything ranging from classic cars undergoing restoration to modern exotics and motorcycles.
