If you’re looking to buy a life insurance policy and you’ve come across the name Assurity, you may be wondering if the life insurance company is worth your consideration.
Well, you can rest assured (see what we did there?) knowing you’re researching a financially strong life insurance carrier with several products which could meet your needs.
While not the ideal choice for everyone, Assurity does have excellent term products, some of which require no medical exams.
We strive to provide you with the most complete guide to the best life insurance companies in America, and Assurity is definitely among the top of them.
If you’re considering a policy with Assurity, read this article first to make sure it’s the right fit for you. We’ll unpack the company’s history, credit rating scores, and key benefits.
Our Assurity Life Insurance Company review presents our honest opinion of the company. But as always, make certain you do your own due diligence before buying any coverage from any company.
Assurity Life Insurance Company: A Brief History
Assurity Life Insurance Company has been providing customers with access to affordable life insurance for more than a hundred years under a few different names.
Before the turn of the 20th century, three insurance entities, Modern Woodmen Accident Association, Royal Highlanders, and Security Mutual Life all began their life insurance prowess in the state of Nebraska.
Each would undergo name changes and home office locations over the last century, before finally consolidating as Assurity Life Insurance Company in 2007.
With a strong focus on life insurance, Assurity has continued to add more options to an even greater line of products, including disability, critical illness, worksite policies, and others.
As the company’s financial offerings grow, so does its credibility. In this review, we’ll be focusing on Assurity’s life insurance policies.
Within the life insurance realm, Assurity offers term life policies, universal life policies, no exam life insurance (also called simplified issue) and even a single-pay whole life plan.
Assurity’s Financial Strength
One of the first places you should turn when you are assessing a company’s financial stability is to its credit ratings.
Federally recognized credit rating agencies like A.M. Best are excellent resources for investors and life insurance shoppers alike.
These agencies review a company’s financial history, habits, and projections to predict their likelihood of meeting their financial obligations and paying out policies as promised.
Assurity Life has been affirmed through A.M. Best with an “A-” (Excellent) rating for financial strength and security.
This is often one of the more important metrics consumers use to evaluate a company’s reputation, as A.M. Best is an independent third party and not affiliated with the profitability interests of Assurity.
The company’s excellent rating means that in the event of your passing, you can count on Assurity to maintain their commitment to paying out your policy, even under financial duress.
We also recommend checking out the Comdex, a metric tool that uses the ratings from the big three credit rating agencies to place a company into a percentile, providing you with a great point of comparison between life insurance providers.
The primary focus for Assurity resides in middle-income Americans, as well as those who own and operate small businesses.
For those small businesses with a fair amount of employees, Assurity also provides several options for voluntary benefits, making it easy for employees to purchase life, disability, and other insurance products in the same place.
Assurity offers its individual customers a selection of disability and critical illness coverage, as well as accidental death policies and annuities.
In terms of traditional comprehensive life insurance, Assurity offers whole life, term life, and universal life insurance policies. Assurity is also one of the premiere life insurance carriers for no exam life insurance policies.
These types of policies allow individuals to apply for coverage, up to certain amounts depending on age, without the requirement of medical tests or exams prior to approval.
When an applicant applies for no exam life insurance coverage, he or she will still have to answer medical questions, provide driver’s license information for motor vehicle records, and have their MIB and prescription history checked.
While you can expect higher rates with no exam life insurance, it could be the best option for applicants whose health conditions might bar them from getting traditionally underwritten insurance.
In some instances, doctor’s records could be requested.
Underwriting for these products also can be a week or two quicker than fully underwritten policies requiring blood work or a urinalysis, an advantage for busy individuals looking to quickly get a policy in place.
Perhaps one of Assurity Life Insurance Company’s greatest achievements in today’s fast-paced and online life insurance market is its technological advances.
Working with iPipeline, an insurance tech specialist, Assurity now offers insurance quotes and applications all over the internet, to not only assist agents with the sale, but also to get insurance in the hands of consumers quickly and easily.
How Assurity Life Insurance Company Gives Back
In addition to aiding individuals and business with solutions during the most challenging times in their life, Assurity is committed to making a difference in the areas it serves.
It is also one of Assurity’s goals to pro-actively aid the community in which it operates, assisting with events like blood drives, American Heart Association activities, food bank drives, and fundraising for other local charities.
There is also strong support for the United Way and Assurity makes active strides in becoming a greener company every year.
The company is also a certified B Corporation, a title given by B Lab to corporations who exhibit commitment to social and environmentally sound practices who operate responsibly and honestly.
Assurity also seeks to convey transparency and goodwill to customers in its very business structure.
As a mutual organization, Assurity’s policyholders are the ones who have ownership in the company, so Assurity’s decisions are made with their customers’ best interest in mind.
While Assurity itself is a relatively new company, it has a rich history across the three separate companies from which it came.
With a focus on ethics and integrity, Assurity Life Insurance Company’s aim to provide exceptional products and service is not going unnoticed, and Assurity is making a positive mark on the life insurance industry.
Which company will have the best policy for you depends on your age, health considerations, and what type of coverage you need at your unique stage of life.
In addition to Assurity, we can help match you with a number of life insurance companies and assist you in making the best choice.
Finding out what life insurance policies and rates are available to you is as simple as entering a few quick details about yourself and getting quotes.
From there you can make an informed decision and choose a policy that meets all of your family’s needs.
Assurity Life Insurance Company Summary
|Company Name (and Subsidiaries)||Assurity Life Insurance Company|
|Company Ratings||A.M. Best (A-)|
Moody’s Investors Services (n/a)
Standard & Poor’s (n/a)
|Headquarters (Address, Phone, Web)||2000 Q Street (68503)|
PO Box 82533
Lincoln, NE 68501-2533
Phone: (402) 476-6500
|Policy Types Available||Term|