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Assurity Life Insurance Company

Assurity Life Insurance Company is a leading provider of life insurance and supplemental insurance products in the United States. Founded in 1890, the company has a rich history of providing financial protection and security to its policyholders. In this article, we will delve into the company’s history, products, and plans, and compare them to other industry offerings.

History

Assurity Life Insurance Company was founded in 1890 as the Modern Woodmen Accident Association. Over the years, the company has undergone several name changes and mergers, eventually becoming Assurity Life Insurance Company in 2007. Today, the company is headquartered in Lincoln, Nebraska, and operates in 49 states and the District of Columbia.

Products and Plans

Assurity Life Insurance Company offers a range of life insurance and supplemental insurance products, including:

  • Term Life Insurance: Provides coverage for a specified period (10, 20, or 30 years).
  • Whole Life Insurance: Offers lifetime coverage and a cash value component.
  • Universal Life Insurance: Flexible premium payments and adjustable coverage.
  • Accidental Death Benefit Insurance: Provides coverage in the event of accidental death.
  • Cancer Insurance: Helps cover expenses related to cancer diagnosis and treatment.
  • Critical Illness Insurance: Provides a lump-sum payment upon diagnosis of a covered illness.

Comparison with Other Insurers

Here’s a comparison of Assurity Life Insurance Company’s plans with other industry offerings:

ProductAssurityState FarmNorthwestern Mutual
Term Life Insurance10, 20, or 30 years10, 20, or 30 years10, 20, or 30 years
Whole Life InsuranceYesYesYes
Universal Life InsuranceYesYesYes
Accidental Death Benefit InsuranceYesYesNo
Cancer InsuranceYesNoNo
Critical Illness InsuranceYesYesYes

Pricing

Assurity Life Insurance Company’s pricing varies depending on factors such as age, gender, health, and coverage amount. Here’s a sample quote for a 35-year-old male:

ProductMonthly Premium
Term Life Insurance (10-year, $250,000)$15.50
Whole Life Insurance ($250,000)$215.00
Universal Life Insurance ($250,000)$130.00
Accidental Death Benefit Insurance ($100,000)$10.00
Cancer Insurance ($20,000)$25.00
Critical Illness Insurance ($30,000)$40.00

Ratings and Reviews

Assurity Life Insurance Company has received high ratings from major rating agencies:

  • A.M. Best: A- (Excellent)
  • Standard & Poor’s: A- (Strong)
  • Moody’s: A3 (Good)

Policyholders and independent reviewers have praised Assurity for its:

  • Competitive pricing
  • Flexible coverage options
  • Fast claims processing
  • Excellent customer service

Conclusion

Assurity Life Insurance Company offers a range of life insurance and supplemental insurance products that cater to various needs and budgets. While its pricing may not always be the lowest, its flexible coverage options and excellent customer service make it a strong contender in the industry. As with any insurance purchase, it’s essential to compare plans and prices before making a decision.

Tables and Comparisons

Here are some additional tables and comparisons to help you make an informed decision:

Term Life Insurance Comparison

InsurerTerm LengthCoverage AmountMonthly Premium
Assurity10 years$250,000$15.50
State Farm10 years$250,000$18.00
Northwestern Mutual10 years$250,000$20.00

Whole Life Insurance Comparison

InsurerCoverage AmountMonthly Premium
Assurity$250,000$215.00
State Farm$250,000$250.00
Northwestern Mutual$250,000$300.00

Supplemental Insurance Comparison

InsurerProductCoverage AmountMonthly Premium
AssurityAccidental Death Benefit$100,000$10.00
State FarmAccidental Death Benefit$100,000$12.00
AssurityCancer Insurance$20,000$25.00
Colonial LifeCancer Insurance$20,000$30.00