Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Assurity life insurance review 2020

Last updated:  

This insurer's lineup includes a no medical exam policy and three types of whole life insurance.

finder.com's rating: 3.5 / 5

★★★★★

  • Get a quote if… You want a no-medical exam policy, or the ability to pay for your permanent policy up front.
  • Choose a different provider if… You want an online quote, or you live in New York.

18 to 85

Issue Age

$25,000 to $10,000,000

Coverage

Yes

Medical Exam Required

Details

Free quote Phone
Monthly cost Not listed
Policies Term, Whole, Universal
Coverage maximum $10,000,000
Term lengths 10, 15, 20, or 30 years
Riders Accelerated death benefit rider, Accidental death benefit rider, Child rider, Conversion rider, Critical illness benefit rider, Disability income benefit rider, Guaranteed insurability rider, Level term rider, Payor benefit rider, Portability rider, Spouse rider, Term insurance rider, Waiver-of-premium rider
Medical exam required Yes
Available states Not available in New York
Issue age Not listed

Expert review

Katia Iervasi

Review by


Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

Assurity boasts solid financial ratings, a strong reputation and a wide range of term and permanent policies — including three different types of whole life insurance. Plus, 50% of term life applicants qualify for accelerated underwriting, which means they can skip the medical exam.

But you’ll need to contact an agent to get a quote, and customer service department is only available during business hours on weekdays.

To explore your options, compare life insurance companies.

What type of life insurance coverage does Assurity offer?

Assurity sells a mix of term and permanent policies as part of its LifeScape product line:

  • Term life insurance. This policy is available in 10-, 15-, 20- or 30-year terms, with coverage amounts ranging from $25,000 to $10 million. Assurity also has an accelerated underwriting option for eligible applicants that skips the medical exam.
  • Whole life insurance. Assurity offers a standard whole life policy with the potential to earn dividends on the company’s profits, plus a joint whole life policy that covers two people. If you want to pay for your entire policy up front, the insurer also has a single premium option.
  • Universal life insurance. This policy offers lifelong coverage and grows cash value. It also comes with flexible premiums and death benefits.

Read our review on Assurity disability insurance

What riders can I add to my policy?

Assurity offers a long list of riders that you may be able to add to your coverage:

  • Accelerated death benefit rider. Allows you to withdraw a specified percentage of your death benefit if you’re diagnosed with a terminal illness.
  • Accidental death benefit rider. If you die due to an accident, your beneficiaries will receive an additional benefit up to a maximum of $350,000.
  • Child rider. Covers a child or multiple children under your policy.
  • Conversion rider. This add-on allows you to convert your term life policy into permanent life insurance within a specified time period.
  • Critical illness benefit rider. Pays out a portion of the death benefit if you’re diagnosed with a critical illness.
  • Disability income benefit rider. If you’ve been injured in an accident, the insurer will pay monthly benefits — $1,800 a month — for a specified period of time.
  • Guaranteed insurability rider. Gives you the option to purchase extra coverage later on without having to go through the underwriting process.
  • Level term rider. Confirms your benefit amounts stay the same during the term of your policy.
  • Payor benefit rider. If the person paying the premium dies or becomes disabled, the insurer will waive premiums for a specified period.
  • Portability rider. If you’re participating in group coverage, this add-on makes sure you can take your coverage with you if you change jobs.
  • Spouse rider. Allows you to add life insurance for your spouse without purchasing a separate policy.
  • Term insurance rider. Adds additional insurance to your permanent policy for a specified amount of time.
  • Waiver-of-premium rider. Pauses your premiums if you can’t work due to a disability.

How much does Assurity life insurance cost?

Like most insurers, Assurity doesn’t disclose its rates online. But expect to pay more for coverage if you’re a smoker or senior, or have a serious health condition.

Compare life insurance rates

Compare quotes for life insurance policies starting at $15/month.

Pros and cons of Assurity life insurance

Assurity might suit your needs if you’re looking for one-on-one agent help or quick underwriting on a term policy. Still, it won’t be right for everyone. Before committing, consider:

Pros

  • No-exam policy. Assurity offers accelerated underwriting on its term life policy, and says 50% of applicants are eligible.
  • Variety of whole life insurance. The lineup includes a joint and single premium policy for those who want to pay for their coverage in full.
  • Personalized service. You’ll be paired with an agent, who will help you to apply for and manage your policy.
  • Potential to earn dividends. Since Assurity is a mutual company, permanent policyholders may be able to earn dividends on the company’s profits.
  • Financial strength. Assurity has an A- rating from AM Best, which means it has the funds to pay out claims.

Cons

  • No online quotes. You’ll need to contact an agent to get a quote.
  • Short customer service window. Reps are only available by phone on weekdays from 7 a.m. to 5 p.m. CT.

Compare other life insurance companies

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Prudential
18 - 75 years old
$100,000
$10,000,000
10, 15, 20, 30 years
Yes
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
Transamerica
18 - 75 years old
$25,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
MassMutual
18 - 80 years old
$2,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
AIG
AIG
20 - 85 years old
$5,000
$2,000,000
10, 15, 20, 25, 30, 35 years
Yes
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
$25,000
$1,000,000
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.
loading

Compare up to 4 providers

Assurity life insurance reviews and complaints

Assurity isn’t accredited with the Better Business Bureau (BBB), but has an A+ rating for its customer engagement, as of October 2020. The BBB has received 3 complaints over the past three years, which is a good sign in terms of customer satisfaction.

In 2015 Assurity became a certified B Corporation, which means it meets high standards of public transparency, legal accountability, environmental sustainability and social impact. It’s the largest insurance company in the world to hold this title.

How do I apply for Assurity life insurance?

Assurity’s site doesn’t support online quotes. Here’s how to reach an agent:

  • Phone. 800-869-0355
  • Email. salesrequests@assurity.com.

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology here.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site