Nassau Re life insurance review 2020
Get a term policy with multiple benefits included at no extra cost.
finder.com's rating: 4 / 5
- Get a quote if you want a policy without a medical exam.
- Pick something else if you want to convert your term policy before it expires.
18 to 70
$50,000 to $500,000
Medical Exam Required
|Free quote||Online or by phone through an agent|
|Available states||All US states and territories|
|Policy options||Term life and Final Expense whole life|
|Term lengths||10, 15, 20 or 30 years|
|Issue age||18 to 70|
|Coverage||$50,000 to $500,000|
|Medical exam required||No|
|Claim methods||To file a life insurance claim, you can fill out the forms available on the website or call 800-814-3692|
|Customer support||Phone, Online|
|Riders||Accelerated death benefit rider, Accidental death benefit rider, Cost-of-living rider|
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
Nassau Re’s life insurance policies have a lot going for them, such as the included rider benefits, the lack of a medical exam and an easy application process. But if few policy options and the company’s questionable financial strength concern you, take the time to compare other life insurance companies to find a policy that’s better suited to your coverage needs.
What types of life insurance coverage does Nassau Re offer?
Nassau Re offers two types of life insurance policies that include significant benefits.
- Term life insurance. The Safe Harbor Term policy is available in both an express and regular plan, in 10-, 15-, 20- and 30-year terms. While there’s no medical exam required, you need to fill out a medical questionnaire when you apply. And, depending on your answers, you may need to supply an Attending Physician’s Statement (APS). There’s no APS statement requirement for the express plan.
- Final expenses whole life insurance. The Remembrance Life policy is for people 50 and older looking to help cover their end-of-life expenses. Purchase between $10,000 and $50,000 of coverage, depending on your age when you purchase the policy, and your minimum premium is $360 annually, and includes all riders.
What riders can I add to my life insurance policy?
Nassau Re includes offers these riders to add extra protection to your coverage:
- Accidental death benefit rider. If you die due to a covered accident, Nassau Re pays an additional lump sum on top of the death benefit, equal to 100% of the face value of the policy. This rider is included with the Remembrance Life policy and you can add it as an optional rider to your term life policy.
- Living benefit riders. Your term and whole life policies include riders that allow you to take out an advance on your death benefit of up to 95% if you’re diagnosed with a critical, chronic or a terminal illness.
- Unemployment rider. This rider waives six months of your premium if you become unemployed for four weeks or more and are receiving state or federal unemployment benefits. This rider is automatically included in your term life policy.
How much does Nassau Re cost?
For term life insurance, your base premium rate reflects your age and the length of the term policy you buy. Included is a $72 annual policy fee. Pay your premiums monthly, quarterly, semiannually or annually.
We gathered the following sample quotes for monthly premiums on a $100,000 term life insurance policy for non-smokers of average height and weight.
|10-year term||15-year term||20-year term||30-year term|
|Male, age 30||$15.28||$15.71||$16.22||$19.76|
|Female, age 30||$13.72||$14.50||$15.02||$17.26|
|Male, age 40||$19.85||$21.66||$23.39||$32.97|
|Female, age 40||$16.57||$17.61||$20.80||$27.10|
How do I get a low rate?
Because Nassau Re has nonmedical and simple issue underwriting on its insurance policies, the premiums are mostly based on age. But the company uses standard tobacco risk classes, so the best way to save money on a Nassau Re policy is to quit smoking.
Pros and cons of Nassau Re
- Included riders. All of the riders available from Nassau Re are included in one or more of your life insurance policies at no charge.
- No medical exams. None of the Nassau Re life insurance policies require a medical exam. Fill out a questionnaire on your medical history, and based on those answers, some applicants may need to submit a physician’s statement.
- High customer rating. The easy application process and friendly, professional and knowledgeable support staff are reflected in the high customer ratings.
- Few options. With just two policy offerings, you don’t have the options you might have from another insurer. Also, because there is no true whole life policy, you can’t convert your term policy to whole life at the end of your term.
- Lower than expected financial strength ratings. AM Best gave the company a B+ rating in 2019, which is sixth of the 13 levels on the agency’s scale. Fitch rated Nassau Re BB+, which is 11th out of its 19 levels, but gave the company a stable outlook rating.
- No online quotes for Remembrance Life. You can’t get a quote or apply for final expenses life insurance from the Nassau Re website.
Compare alternatives to Nassau Re
Nassau Re reviews and complaints
Nassau Re has an A+ rating from the BBB and extremely high customer satisfaction, scoring 4.8 out of 5 stars on Trustpilot with over 800 reviews. Trustpilot reviewers call out service representatives by name, praising them as friendly and knowledgeable. Even when reviewers give Nassau Re a poor rating, they have nothing but encouraging words for customer support.
How do I sign up?
You can get an online quote from the website by following these steps:
From the main term life insurance page, click Get a Quote.
Use the slider bar to select the amount of coverage you want. Scroll down and you can see the premiums based on the term of your choosing.
Select the policy you want and choose to have the quote emailed to you or click Next to apply for the policy.
Enter your personal information and choose how you want to complete your application, either by phone or online. If you click By Phone, you can schedule a call with an agent. Click On the Web to continue your application, which includes a medical questionnaire.
More about Nassau Re
Nassau Re is a fixed annuity and life insurance company that was formed in 2015 by a private investment firm. The company has since acquired several smaller companies and expanded to offer insurance and annuities, reinsurance, distribution and asset management.
Frequently asked questions
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.