Sagicor Life Insurance Company(Texas); Contacts, Claims, Products, Resolutions, Cancellations and Renewals

Sagicor Life Insurance Company is a financial services provider based in the Caribbean, with a strong presence in various countries.

Sagicor Life Insurance Company

Brief Overview of Sagicor Life Insurance Company:

Sagicor Life Insurance Company, also known as Sagicor, operates as a comprehensive life insurance provider licensed in 45 states and the District of Columbia.

Established in 1954, Sagicor is a wholly-owned subsidiary of Sagicor Financial Company Limited (SFCL), one of the oldest insurance groups in the Americas. SFCL has a presence in 19 countries, with a focus on the United States, Latin America, and the Caribbean.

Mission

Sagicor aims to be a trusted provider of innovative financial solutions, helping individuals achieve their long-term financial goals. The company prioritizes offering products and services that safeguard families and contribute to building a secure future.

Values

Sagicor upholds core values:

  • Customer-centricity: Prioritizing customer needs guides all decisions at Sagicor.
  • Integrity: Operating with honesty, fairness, and transparency, Sagicor commits to the highest ethical standards.
  • Innovation: Sagicor consistently innovates, developing new solutions to meet evolving customer needs.
  • Excellence: Striving for the best service possible, Sagicor is dedicated to continuous improvement and excellence in all endeavors.
  • Teamwork: Recognizing employees as the greatest asset, Sagicor fosters a culture of collaboration and teamwork.
  • Community: Sagicor is committed to giving back, and supporting various charitable organizations and initiatives.
How Sagicor Lives Its Mission and Values

Sagicor embodies its mission and values in several ways:

  • Customer Service Focus: Sagicor prioritizes customer service, offering various contact options for customers to get assistance.
  • Innovation Investment: The company invests significantly in research and development to create new products and services aligned with customer needs.
  • Financial Literacy Advocacy: Sagicor promotes financial literacy by providing educational resources and programs, empowering individuals to make informed decisions about their finances.
  • Corporate Citizenship: As a committed corporate citizen, Sagicor supports charitable organizations and initiatives, actively contributing to the communities it serves.

Contact Details of Sagicor Life Insurance Company

Corporate
Sagicor Life Insurance Company – Tampa, FL
Address 4010 W. Boy Scout Blvd, Suite 800, Tampa, FL 33607
Telephone +1-813-287-1602
Home Office
Sagicor Life Insurance Company – Scottsdale, AZ
Address 8660 E. Hartford Drive, Suite 200, Scottsdale, AZ 85255
Telephone +1-480-425-5100

Services and Products Offered

Sagicor provides a broad range of products and services designed to help individuals and families safeguard their loved ones and shape their future.

Life Insurance

Sagicor offers various life insurance products tailored to the needs of individuals and families. Popular options include:

Annuities

Sagicor also provides a variety of annuities to assist individuals and families in saving for retirement. Key products include:

  • Fixed annuities: Guarantee a fixed rate of return, appealing to those seeking a conservative investment option.
  • Variable annuities: Offer potential for higher returns but come with increased risk.
  • Indexed annuities: Blend features of fixed and variable annuities, providing a balanced approach for those seeking a mix of risk and return.

Sagicor Life Insurance Company

Premium Costs

Sagicor Life Insurance Company’s product costs vary based on factors like product type, coverage amount, and the insured’s age and health.

For instance, term life insurance generally has lower premiums compared to whole life insurance. Payment frequency options include monthly, quarterly, semi-annually, or annually.

Payment Options

Sagicor provides diverse payment options, such as:

  • Automatic deduction from a bank account
  • Credit card
  • Check
  • Money order
  • Online payments

Discounts and Promotional Offers

Sagicor occasionally features discounts or promotions. These may target specific groups like military personnel or students.

The company also offers ways to save on costs, like bundling policies or discounts for maintaining a healthy lifestyle. Current examples include:

Process of Filing Claims with Sagicor Life Insurance Company

Filing a Death Benefit Claim

When a client passes away, follow these steps to file a claim with Sagicor Life Insurance Company:

  1. Notify Sagicor: Contact Sagicor promptly by calling 1-888-724-4267 or submitting a claim online.
  2. Gather Documentation: Collect the required documents, including the certified death certificate, the client’s birth certificate, Social Security card, marriage certificate, or divorce decree (if applicable), and the last will (if applicable).
  3. Submit Claim: Send your claim to Sagicor via mail, fax, or online through their submission portal.
  4. Review Process: Sagicor will review your claim and may request additional documentation. A decision on your claim will follow.
  5. Payment: If approved, Sagicor will issue a check for the death benefit, the amount payable to the client’s beneficiaries.

Filing a Disability or Critical Illness Claim

For disability or critical illness claims, take the following steps:

  1. Notify Sagicor: Report your disability or critical illness promptly by calling 1-888-724-4267 or submitting a claim online.
  2. Gather Documentation: Collect necessary documents, including certified medical records, a statement from your doctor confirming your condition, and a copy of your insurance policy.
  3. Submit Claim: Send your claim to Sagicor via mail, fax, or online submission.
  4. Review Process: Sagicor will review your claim, possibly requesting additional documentation, and make a decision.
  5. Payment: If approved, Sagicor will issue a check for the benefit amount, the money payable to you upon your disability or critical illness.

Ratings

Sagicor Life Insurance Company receives good ratings in financial strength and the NAIC complaint index. A.M. Best Company gives Sagicor an A- (Excellent) rating, reflecting strong financial capabilities.

Sagicor’s complaint index is 0.65, lower than the national average of 0.92, indicating fewer customer complaints.

Reviews

Customers have positive opinions about Sagicor. On Google Reviews, the company holds an average rating of 4.6 out of 5 stars. ConsumerAffairs rate it at 4.5 out of 5 stars, and Trustpilot gives it an average rating of 4.8 out of 5 stars.

Complaints

While Sagicor, like any insurance company, receives some complaints, common issues revolve around the claims process and customer service. Despite this, Sagicor has a strong track record, resolving 99% of its complaints in 2021.

Resolutions

Sagicor prioritizes quick and fair complaint resolutions. The company has a transparent resolution process and a team of trained customer service representatives dedicated to handling and resolving complaints efficiently.

Sagicor Life Insurance Company

Cancellations

You can cancel your Sagicor Life Insurance Company policy whenever you want, but any paid costs won’t be refunded.

If you cancel within the first 30 days of purchase, you might qualify for a full refund. To cancel, contact Sagicor’s customer service by calling 1-888-724-4267 or submitting an online cancellation request.

Renewals

Your Sagicor policy automatically renews unless you decide to cancel. They’ll inform you in advance of the renewal date. Renew by paying your premium through mail, phone, or online. If you don’t renew, your coverage ends, and you won’t be insured anymore.

Consider these points for cancellations or renewals:
  • Cancelling may incur a cancellation fee.
  • Renewing might mean a higher premium.
  • If your policy lapses, you may need to reapply and undergo underwriting again.

Benefits of Joining Sagicor Life Insurance Company

Financial Security:

Sagicor Life Insurance Company holds an A- (Excellent) rating from A.M. Best Company, giving strong financial standing and reliability in meeting ongoing obligations. This means you can trust Sagicor to provide financial assistance when you need it.

Variety of Products and Services:

Sagicor offers a broad range of products and services to cater to customer needs, including term life insurance, whole life insurance, universal life insurance, annuities, disability insurance, long-term care insurance, and critical illness insurance.

Competitive Rates:

Sagicor provides competitive rates for its products and services, so you can obtain the coverage you need at an affordable price.

Excellent Customer Service:

Committed to excellent customer service, Sagicor has a team of experienced agents ready to assist you in finding the right product. Online resources are also available to help you learn more about the company and its offerings.

Community Involvement:

Sagicor is dedicated to giving back to the communities it serves by supporting various charitable organizations and initiatives.

FAQs

  1. How do I get a quote for life insurance?
  2. Can I manage my policy online?
    • Many insurance companies offer online account management. Check with Sagicor for their online services.
  3. What factors affect premium costs?
    • Age, health, coverage amount, and the type of insurance are common factors.
  4. How are claims processed?
    • Follow the instructions provided by Sagicor for filing claims. Typically is contacting the company and giving required documentation.
  5. Are there any discounts available?
    • Inquire about available discounts, such as bundling policies or loyalty discounts.