Sagicor Life Insurance Review

The name Sagicor is a combination of two words, Sage means wise, and Cor refers to heart or judgment.

This insurer’s name, Sagicor, therefore reflects the company’s philosophy of wisdom with heart.

In other words, it describes the pursuit of the insurer’s goals and objectives with wisdom, dignity, and humility.

For those who have people they love and care about, there is usually the need for life insurance in their overall financial plan.

One insurance carrier that has a good reputation for paying out its policyholders’ claims is Sagicor Life.

The History of Sagicor Life Insurance Company

Established back in 1840, the Barbados Mutual Life Assurance Society – which is today known as Sagicor Financial Corporation – is one of the oldest insurers in the Americas.

Over time, this company expanded into several of the Caribbean Islands, as well as to the British Empire, and beyond.

Sagicor Insurance Company offers a variety of wealth enhancement and protection solutions to its customers, including both term and permanent life insurance coverage, as well as retirement annuities.

Sagicor has corporate offices in the U.S. that are located in Tampa, Florida, and in Scottsdale, Arizona.

Although it began as a mutual insurer, today Sagicor is a stock insurance company, meaning that its shares are traded on a stock exchange.

Sagicor Life Insurance Ratings

Due to its financial strength and its timely payment of policyholders’ claims, Sagicor Life Insurance Company has been given a rating of A- from A.M. Best Company.

The FSR (Financial Strength Rating) and the Long-Term Issuer Credit Rating of this company are A- and a- respectively.

In addition, Sagicor Life has been an accredited company of the Better Business Bureau (BBB) ever since 2009, and the BBB has provided Sagicor with a grade of A+. This is on an overall grade scale of A+ through F.

Sagicor Life Insurance Products

Sagicor Insurance Company offers a wide range of competitive life insurance products, which include the following:

Sage Term Life Insurance

The Sage Term Life Insurance product offers death benefit only protection, without any cash value build-up – and because of that, the premium for this plan can be very affordable.

These plans can be purchased with coverage that lasts for ten, fifteen, or twenty years.

During this time period, the amount of the premium will remain the same and cannot be increased, and there can be a level death benefit up until the insured’s age 95.

In addition, the Sage Term Life Insurance policy is able to be converted over into a permanent life insurance policy in the future.

Sage Whole Life Insurance

With the Sage Whole Life plan, there is a guaranteed amount of coverage available for the remainder of the insured’s lifetime – provided that the premium is paid.

Over time, the cash value component of the policy accumulates on a tax-deferred basis.

To top things off, your premium payment will remain the same, even as you age.

No Lapse Universal Life

With the Sage No Lapse Universal Life plan, the premiums can be locked in and guaranteed until the insured’s age 120.

This plan can also help to provide additional protection as one grows older and may experience adverse health issues – which can make it difficult to qualify for a new life insurance policy.

Fixed Indexed Universal Life

The Sage Fixed Indexed Universal Life insurance policy offers the potential for a considerable amount of growth in the accumulation value (which takes place on a tax-deferred basis), yet without the funds being subject to loss in the case of a market downturn.T

his is a flexible premium policy that can help policyholders and their loved ones with attaining both their short- and their long-term financial goals.

Other Products Offered by Sagicor

In addition to life insurance coverage, Sagicor also offers retirement annuities.

These include single premium, immediate, and deferred annuity options.

With so many people who are living longer today, one of the key concerns on the minds of retirees is that of outliving their income.

An annuity can help with eliminating this fear, as these products can provide an ongoing income for as long as it is needed.

The annuities that are offered by Sagicor include the:

  • Single-Premium Immediate Annuity – The Sagicor Life Gold Series Single Premium Immediate Annuity offers a guaranteed income stream that will begin immediately (or very soon after) the client deposits a single premium contribution. This annuity offers several different flexible income payment periods, as well as beneficiary benefit option. There is also an inherent one-time withdrawal rider.
  • Sage Choice Single Premium Deferred Annuity – The Gold Series Sage Choice Single Premium Deferred annuity offers a guaranteed minimum interest rate of 2% for the first ten years, and then 3% after that. There is also a death benefit included on this annuity.
  • Milestone MYCA Single Premium Deferred Fixed Annuity – The Mileston MYCA Single Premium Deferred Fixed Annuity provides a guaranteed fixed interest rate over a guaranteed period of time. The money will grow safely on a tax-deferred basis without market risk during the initial guarantee period.

Is Sagicor Life Insurance Best For You?

If you are in the process of seeking the best premium rates on life insurance coverage from Sagicor – or for that matter, from any life insurance carrier – we can help.

We are an independent life insurance brokerage, and we work with many of the top life insurance companies that are in the marketplace today.

This means that we can show you numerous life insurance policies and premium quotes, and from there, you can pick and choose the one that works best for you.

When you are ready to move forward with this process, all you must do is just simply take a moment to fill out the quote form on this page.

And, should you still have any additional questions, please feel free to reach out to us directly via phone. We can be reached toll-free, by dialing 334-380-4188.

We understand that the purchase of life insurance can be a bit overwhelming. There are many different variables to be aware of, and you want to ensure that you are going in the right direction.

But this can be made much easier when you’ve got an ally working on your side. So, contact us today – we’re here to help.