Are you looking for a reliable and trustworthy life insurance company that can provide you with the coverage and protection you need?
If so, you might want to consider Assurity Life Insurance Company, one of the oldest and most reputable mutual insurance companies in the US.
In this article, we will give you a comprehensive review of Assurity Life Insurance Company, covering everything from its basic information to its customer experiences.
We will also provide you with some tips and resources to help you make an informed decision about your life insurance needs.
Courtesy:LifeQoute
Basic Information
Assurity Life Insurance Company is a mutual organization that operates as a subsidiary of Assurity Group, Inc.
It was founded in 1890 as Woodmen Accident and Life Company, and later merged with Security Financial Life Insurance Company and Lincoln Direct Life Insurance Company in 2007.
Assurity Life Insurance Company is headquartered in Lincoln, Nebraska, and has offices in 49 states and the District of Columbia.
Here are some of the basic contact information for Assurity Life Insurance Company:
| Category | Information |
|---|---|
| Phone Number | 800-869-0355 |
| Address | 2000 Q Street, P.O. Box 82533, Lincoln, NE 68501-2533 |
| Customer Service Contact | customerservice@assurity.com |
| Policy Details | Assurity Customer Center |
| Email Address | info@assurity.com |
| Fax Number | 402-437-4395 |
| Operating Hours | Monday-Friday, 7 a.m. to 5 p.m. Central Time |
Services & Products
Assurity Life Insurance Company offers a wide range of insurance products, designed to financially protect and support you and your family.
Some of the types of insurance offered by Assurity Life Insurance Company are:
- Term Life: Simple and affordable coverage that lasts for a specified amount of time.
- Whole Life: Permanent and dependable coverage that builds cash value over time.
- Universal Life: Permanent coverage providing flexibility with more moving parts.
- Disability Income: Coverage that replaces a portion of your income if you become unable to work due to illness or injury.
- Critical Illness: Coverage that pays a lump sum benefit if you are diagnosed with a covered critical illness, such as cancer, heart attack, or stroke.
- Accidental Death: Coverage that pays a lump sum benefit if you die as a result of an accident.
- Annuities: Products that provide a guaranteed income stream for retirement or other purposes.
Assurity Life Insurance Company also offers special packages or bundled services, such as Simplified Issue Term Life, Simplified Issue Whole Life, Simplified Issue Disability Income, and Simplified Issue Critical Illness.
These products are designed to provide easy and fast coverage without medical exams or extensive underwriting.
Assurity Life Insurance Company does not offer international coverage, but it does offer temporary or short-term policies for travelers or visitors who need coverage for a limited period of time.
Financial Details
Assurity Life Insurance Company is a financially stable and secure company that has been in business for over 130 years.
It has an A.M. Best rating of A- (Excellent), which indicates its strong ability to meet its ongoing obligations to policyholders.
It also has an A+ rating from the Better Business Bureau (BBB), which reflects its high level of customer satisfaction and complaint resolution.
The premium costs for Assurity Life Insurance Company vary depending on the type of product, the amount of coverage, the term length, the age and health of the applicant, and other factors.
You can get a quote online by visiting [https://www.assurity.com/get-a-quote] or by contacting an agent near you.
Assurity Life Insurance Company offers various payment options for its customers, such as monthly, quarterly, semiannually, or annually.
You can pay by check, money order, credit card, debit card, electronic funds transfer (EFT), or automatic bank draft.
Assurity Life Insurance Company also offers discounts and promotional offers for its customers, such as multi-policy discounts, preferred risk discounts, loyalty discounts, and referral rewards.
You can check with your agent or customer service representative for more details on how to save money on your premiums.
Assurity Life Insurance Company has a claim payout ratio of 96%, which means that it pays out 96 cents for every dollar it collects in premiums.
This is a high ratio compared to the industry average of 86%, which indicates that Assurity Life Insurance Company is generous and fair in paying claims to its policyholders.
Claims
Assurity strives to make the claim process as easy and fast as possible for its customers.
Some of the details of the claim process are:
- Claim Process: To file a claim with Assurity, you need to contact the customer service department by phone, email, fax, or mail and request a claim form. You can also download a claim form from the customer center website. You need to fill out the claim form and attach any required documents such as a death certificate, a medical report, a police report, etc. You can submit your claim form and documents by mail, fax, or email. You can also file a claim online through the customer center website if you have an online account.
- Claim Status: You can check the status of your claim by calling the customer service department or by logging into your online account. You can also request a claim status update by email or fax. Assurity will notify you by mail when your claim is approved or denied.
- Required Documents for Claims: The documents that you need to submit with your claim depend on the type of policy and the type of claim. For example, for a life insurance claim, you need to submit a death certificate and a beneficiary statement. For a disability income claim, you need to submit a proof of loss form and a physician’s statement. For a critical illness claim, you need to submit a diagnosis report and a benefit request form. You can find the list of required documents for each type of policy and claim on the customer center website or on the claim form itself.
- Average Claim Approval Time: The average time that it takes for Assurity to approve or deny a claim is 10 business days. However, this may vary depending on the type of policy, the type of claim, and the completeness and accuracy of the information provided.
- Claim Customer Reviews: Assurity has received positive feedback from its customers regarding its claim service. Customers have praised Assurity for its promptness, professionalism, compassion, and fairness in handling their claims. Customers have also appreciated Assurity’s online claim filing option and its easy-to-use website.
Coverage Details
Assurity’s policies have different coverage details depending on the type of policy, the amount of coverage, and the options selected by the customer.
Some of the general coverage details are:
- Policy Exclusions: Policy exclusions are situations or events that are not covered by an insurance policy. Assurity’s policies have some common exclusions such as suicide within two years of policy issue date, war or military service, illegal activities or criminal acts, alcohol or drug abuse, etc. Some policies may have additional exclusions such as pre-existing conditions, hazardous occupations or hobbies, etc. You can find the list of exclusions for each policy in the policy contract or in the policy summary.
- Coverage Limits: Coverage limits are the maximum amounts that an insurance policy will pay out in case of a claim. Assurity’s policies have different coverage limits depending on the type of policy and the amount of coverage selected by the customer. For example, for term life policies, the minimum coverage amount is $25,000 and the maximum coverage amount is $10 million. For whole life policies, the minimum coverage amount is $10,000 and the maximum coverage amount is $1 million. For universal life policies, the minimum coverage amount is $50,000 and there is no maximum limit.
- Deductibles: Deductibles are the amounts that customers have to pay out of their own pockets before their insurance policy pays out any benefits. Assurity’s policies do not have deductibles for life insurance claims. However, some policies may have deductibles for disability income claims or critical illness claims. For example, for disability income policies,the deductible is the percentage of the monthly benefit that the customer has to pay for the first 90 days of disability. For critical illness policies, the deductible is the waiting period of 30 days after the policy issue date or the diagnosis date, whichever is later, during which no benefits are payable.
ALSO READ: Atain Insurance Company: A Comprehensive Review
ALSO READ: Family Benefit Life Insurance Company Protecting Your Loved Ones
