Assurity is one of the oldest players in the life insurance industry, tracing its history back to the 1890 founding of Modern Woodmen Accident Association in Lincoln, Nebraska.
In 2007, Woodmen merged with two other life insurance companies founded in Lincoln in the 1890s to become the Assurity Life Insurance Company, which today offers insurance products and services in all states except New York.
Assurity Life underwrites its own policies, and with nearly 130 years of history, and is well established as a stable and creditworthy insurance provider.
In addition to its financial strength, Assurity has earned recognition for its highly-rated customer service and acts of corporate social responsibility.
Assurity Life Insurance Quotes and Application Process
To obtain a free quote or apply for life insurance, individuals must contact an Assurity agent. This can either be done in person at the company’s Lincoln, Nebraska, location, or by calling (800) 276-7619 to speak directly with an agent, who will then correspond with the individual via email or mail.
Potential customers can obtain a free insurance quote from an agent by providing a few details, including age or date of birth.
A Social Security number is not required for a free quote, but is necessary for an application. You cannot directly apply for a quote or policy online without the assistance of an Assurity agent.
Assurity Life Insurance Policies
Assurity offers a comprehensive portfolio of individual insurance products, including term, whole, and universal life policies. Though product availability, features, and rates can vary by state, the company provides the following policy types:
Term Life Insurance Coverage
Term life insurance provides guaranteed benefits over a specified period of time or term length. Assurity LifeScape Term policies are available for people ages 18 to 74 and can be purchased for terms of 10, 15, 20, or 30 years.
These options are ideal for individuals who want affordable life insurance protection during important life events, such as marriage or welcoming a child into the family.
An Assurity LifeScape Term policy can also be converted into a permanent life insurance policy during the conversion period, which begins on the policy’s issue date and concludes one year prior to the end of the level term period for the 10-year plan, or two years prior to the end of the level term period for the 15-, 20-, and 30-year plans.
Alternately, the conversion period will also end on the first policy anniversary after the insured individual has turned 65.
Whole Life Insurance Coverage
Whole life insurance differs from term by offering coverage that can last a lifetime, with advantages including the income tax-free death benefit, which can provide financial security for your family or business in the event of a tragedy.
Assurity’s LifeScape Whole Life is available as a single premium whole life or fully underwritten whole life policy.
A fully underwritten participating whole life insurance policy from Assurity comes with guaranteed premiums, a guaranteed death benefit, and guaranteed cash value accumulation.
This option is also eligible for dividend payments that add to the cash value.
Universal Life Insurance Coverage
Universal life is permanent life insurance that provides flexible premium and death benefit options.
Assurity includes a five year no lapse guarantee so that your policy will not lapse during that time, provided a monthly lapse-protection premium is paid. Available for people ages 18 to 85, LifeScape Universal Life from Assurity carries a guaranteed interest rate of 3%.
Assurity Life Insurance Riders
Sometimes referred to as an insurance endorsement, a rider is an insurance policy provision that amends the terms of a basic insurance policy, typically by adding benefits.
Riders allow policyholders to gain additional coverage, or in some cases, restrict or limit coverage. Though there is an additional cost associated with purchasing riders, most are relatively affordable because they involve little underwriting.
Two of the most significant riders offered by Assurity Life Insurance include:
Critical Illness Rider
Because critical illness is more statistically likely than untimely death, it makes sense to opt for a critical illness rider, which pays out a lump sum cash benefit for a qualifying condition, such as cancer, paralysis, heart disease or stroke.
The critical illness rider from Assurity is available up to age 64 and renewable to age 75 and pays out benefits ranging from $5,000 to $50,000, without decreasing the death benefit.
Monthly Disability Income Rider
This rider, available for ages 18 to 60, pays out a monthly benefit to replace income if the policyholder becomes completely disabled as a result of accident or sickness.
This coverage comes with a 90-day elimination period, two year benefit period, and provides $300 to $3,000 or 1.5% of the base policy face amount.
Assurity Life Insurance Discounts
Insurers often offer a variety of discounts, for practices ranging from bundling life insurance with other types of policies to abstaining from certain unhealthy practices.
Assurity Life Insurance does not provide public information about its own discounts, so applicants would be wise to ask their agent if any potential savings are available.
Assurity Life Insurance Financial Strength
- Underwriter: Assurity Life Insurance
- Market Share: N/A
- Premiums Written: N/A
- Standard & Poor’s Financial Rating: N/A
- Moody’s Financial Rating: N/A
- AM Best Financial Rating: A- (Excellent)
Financial strength is a crucial measure of any insurance company’s trustworthiness and dependability, and one of Assurity’s firmest credentials.
Though many traditional measures of financial stability are not publicly available, the company has earned an A- (Excellent) score from AM Best, the insurance industry’s leading independent evaluator.
Though not the highest possible rating, an A- indicates that Assurity, in the opinion of AM Best, possesses an excellent ability to meet their ongoing insurance obligations. Since Assurity underwrites its own policies, the institution’s creditworthiness is of paramount importance.
Assurity Life Insurance Reviews and Customer Service
The Better Business Bureau has accredited Assurity Life Insurance since 1992, and currently boasts a perfect BBB rating of A+. The company also has only three customer complaints filed as of May 2019, albeit no customer reviews of any sort.
And according to the National Association of Insurance Companies’ database, only four complaints were lodged against Assurity in 2018. In two cases, a compromised resolution was reached, in one case a claim was settled, and in another, the company’s position was upheld.
The company’s life insurance complaint ratio of 0.36 last year put it well below the national median of 1.00, indicating significantly fewer complaints than many other life insurance providers receive.
Our own rating of Assurity is an 8.1 out of 10, which places the company firmly in the “Excellent” category.
Over nearly thirteen decades of existence, Assurity Life Insurance has also built a very strong corporate reputation for itself. In 2015, Assurity became the world’s largest insurance company to be named a certified B Corporation, recognizing it as a business with an explicit social or environmental mission.
That same year, the company received the United Way President’s Award for devoting time and support to solving community issues, the Tabitha’s Courageous Vision Award for supporting elder care services and a “Best Places to Work” award from the Lincoln Journal Star.
Assurity Phone Number & Contact Information
- Homepage URL: https://www.assurity.com/
- Company Phone: (402) 476-6500
- Headquarters Address: 2000 Q Street, Lincoln, NE, 68503