Assurity Life Insurance Review
Posted in Life Insurance Companies last updated on February 22, 2021If you have been trying to find the best life insurance coverage, but aren’t sure which way to turn, there are several important factors to keep in mind.
In addition to choosing the right type of coverage, you should also have a good idea of the future financial needs of your family or beneficiaries.
It’s also important to review the insurance provider’s financial stability and overall reputation.
If you are considering using Assurity Life Insurance Company for your life insurance policy, continue reading this Assurity review to see if the company is right for you.
Review contents:
Assurity Life Insurance Co.
Assurity Life Insurance Company is a mutual insurance entity that is headquartered in Lincoln, Nebraska.
Founded in 1997, this company is considered to be relatively new as compared to many of the other life insurers that are in the industry today.
This, however, does not mean that this company is not ready and able to meet its obligations.
In addition, the company’s heritage dates back to the year 1890. The name Assurity is a marketing name for the mutual holding company Assurity Group, Inc., and it subsidiaries.
These subsidiaries include the following:
- Assurity Life Insurance Company / Assurity Life Insurance Company of New York
- Assurity PEO Holdings, Inc.
Insurance Industry Ratings
Assurity Life Insurance Company has earned high ratings from the insurer rating agencies. This is due to its solid financial strength and its timely payment of benefits to its policyholders.
A.M. Best awarded Asssurity an A- (Excellent) rating.
In addition, Assurity Life Insurance Company has been an accredited company of the Better Business Bureau (BBB) since October 1992.
The company has been given a grade of A+ by the BBB.
Life Insurance Products
Assurity offers a long list of life insurance coverage options including both term and permanent policies.
This selection can be helpful, as clients can opt for the plan that best fits their needs.
Assurity Term Life Insurance
The term life products from Assurity provide life insurance protection only, without any cash or investment build up. As a result, the premium for a term policy can be very affordable.
Term is considered to be “temporary” insurance coverage but it can be a good fit for many, including those who are seeking the most coverage for the lowest monthly payment.
Assurity Permanent Life Insurance
Assurity Life Insurance Company also offers several different types of permanent life insurance products.
With permanent life insurance, there is both death benefit protection, as well as cash value build up.
The cash is allowed to grow and compound on a tax-deferred basis, which means that there is no tax due on these funds’ growth unless or until they are withdrawn.
Whole Life
One type of permanent protection that is offered by Assurity is whole life. A whole life plan can offer coverage that lasts a lifetime, with the security of several guarantees.
And, the income-tax-free death benefit can provide security for loved ones and survivors.
A whole life insurance policy will remain in force for the life of the insured. As long as the premium is paid.
In addition, the cash value grows at a set rate that is determined by the insurance company. And it can be borrowed or withdrawn and used for any need that the policyholder sees fit.
Universal Life
Universal life is another type of permanent life insurance coverage that is offered through Assurity.
While it is set up in a similar structure to whole life, universal life insurance is considered to be more flexible.
One reason for this is because the policyholder can – within certain guidelines – decide how much of the premium goes towards the death benefit. And how much goes towards the cash value.
In addition, the timing of the premium with universal life insurance can also be adapted to fit changing life circumstances over time.
Accidental Death
Assurity Life Insurance Company also offers an accidental death benefit policy, which can help families financially in the event of an accident.
This is because accidental death insurance provides a cash benefit if the loss of the insured’s life is due to an accident (as versus due to an illness or natural causes).
With its competitively priced and guaranteed premiums, this type of life insurance protection can provide families with a secure benefit – regardless of any other types of insurance coverage that is held.
Other Products and Services Offered
In addition to life insurance, Assurity Life Insurance Company offers a long list of other products and services to its customers. These include the following:
- Disability Income – With disability income, the insured is provided with a monthly income if they should become sick or injured and are unable to work.
- Critical Illness Insurance – Should the insured be diagnosed with a covered critical illness such as cancer or stroke, this policy will pay out a lump sum payment that can help with paying medical expenses or other financial needs.
- Retirement Annuities – One of the key concerns on the minds of retirees is that of running out of income. However, with an annuity, a guaranteed lifetime income is available. It can continue paying out for the rest of the annuitant’s lifetime, regardless of how long that may be.
- Voluntary Employee Benefits – Via its worksite solutions area, Assurity Life Insurance Company offers voluntary employee benefits. These include a number of different plans that can be valuable to both employers and to employees. The premiums for this type of coverage are typically paid via paycheck withholding, which can make paying easy and convenient.
Assurity Life Insurance Rates
If you are looking for the best life insurance premium rates on coverage from Assurity Life Insurance Company – or from any life insurer – we can help.
We are an independent life insurance brokerage entity. And we work with many of the top life insurance carriers in the industry today.
We can provide you with all of the key details that you require for making a well-informed life insurance purchase decision.
And we can do so for you very quickly, easily, and conveniently, all from your computer.
We’ll also save you the hassle of having to meet in person with a life insurance agent.
If you are ready to move forward with this process, then just simply take a minute to fill out the quote form for more information.
Should you find that you still have any additional questions or concerns about life insurance coverage, please feel free to call us directly via phone.
We understand that purchasing life insurance coverage can seem somewhat overwhelming.
There are many different factors to keep in mind. And you want to ensure that you are getting the proper type and amount of protection that you need.
But this can be made so much easier when you are working with an ally on your side. So, contact us today – we’re here to help.