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Accordia Life Insurance Review

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Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

Table of Contents

When the unthinkable happens, you want your loved ones to be protected financially.

A life insurance policy will provide funds to cover missed earnings and other expenses, but with so many different life insurance companies out there, how does one decide which is best?

Global Atlantic Financial Group’s indexed universal life insurance is issued by Accordia Life and Annuity Company. If you are considering purchasing an IUL policy from Accordia, we’ll provide an in-depth overview to see what Accordia Life Insurance has to offer.

Accordia Life and Annuity Company

Accordia Life and Annuity Company is a subsidiary of Global Atlantic Financial Group.

Based out of Des Moines, Iowa, Accordia Life Insurance grew from a 200-agent company to one that now manages more than $30 billion.

As the company continues to grow, its focus remains on establishing long-term relationships with its clients.

Accordia Life Insurance Ratings

Due to its successful performance in the life insurance sector, Accordia has received excellent ratings.

  • Standard & Poor’s: A-
  • Fitch: A
  • A.M. Best: A
  • Moody’s: A3

Accordia is not accredited with the Better Business Bureau and currently has six complaints against it there.

Pros & Cons

You’ll find a lot of redeeming qualities about Accordia Life Insurance, but there are some downsides working with Accordia Life and Annuity Company as well.


  • Financially stable
  • Several policy riders
  • Upside to IUL policies


  • No online applications
  • Poor customer service
  • Lack of variety

Life Insurance Products

Accordia offers three unique, indexed universal life insurance policies.

  • Lifetime Foundation ELITE
  • Lifetime Builder ELITE
  • Global Accumulator

Let’s take a closer look at each of these Accordia life insurance policies.

Lifetime Foundation ELITE

The Lifetime Foundation ELITE policy represents a permanent life insurance product.

It includes a death benefit guarantee, which means that during the guarantee period, you will receive the full death benefit as long as the minimum premium requirement is met.

This applies even if the cash value of your policy reaches zero.

With Lifetime Foundation ELITE, policyholders can choose how interest is accrued and credited to their Accordia life insurance account. Select from six stock market index-based interest strategies and one fixed rate interest crediting strategy.


With the indexed interest crediting strategy, interest accrues to your life insurance account based on the performance of various stock market indexes.

However, it should be noted that even if the stock market index goes down over time, the accrued interest will never drop below 0%.

If the accrued interest for a given period is below 2%, Accordia will credit the difference.

Essentially, you are assured of 2% interest as long as your account remains in good standing.


With the fixed interest crediting strategy, Accordia will declare an interest rate every year.

This rate will also never drop below 2%.

Lifetime Builder ELITE

The Life Builder ELITE policy differentiates itself from Lifetime Foundation ELITE in that it allows for a Return of Premium Rider.

This rider allows for the return of premiums paid in addition to the death benefit’s face value.

Like the Lifetime Foundation ELITE policy, policyholders can also choose a level death benefit or an increasing death benefit.

With a level death benefit, the beneficiaries reach the same face amount regardless of when a claim is made. As the account value increases over time, the cost of insurance charges decreases.

An increasing death benefit provides beneficiaries with both the account value and the face value of the death benefit. However, the cost of insurance charges will remain level.

Global Accumulator

The main feature of a Global Accumulator life insurance policy is the policyholder’s ability to “buy-up.” Accordia Life Insurance offers two options:


The SMART Buy-up Secure Strategy allows an add-on to your policy. This add-on accumulates more money for your account based on the indexed interest credits.

For a small buy-up fee, your account will be credited with an additional amount that’s based on up to 10% of your indexed interest credits.

However, this only starts taking place in the sixth year of the policy.


The SMART Buy-up Performance Strategy works in almost the same way as the SMART Buy-up Secure Strategy.

The difference is that policyholders can buy-up at any time. The account value (minus any outstanding loans on the policy) must exceed a specified funding percentage of the policy’s face amount.

Life Insurance Riders

There are over a dozen available riders that you can tack onto your life insurance policy with Accordia.

Here is a list of all Accordia life insurance riders and their benefits:

Wellness for Life

The free Wellness for Life rider provides rewards for policyholders that regularly see a doctor and maintain a reasonable weight.

If you have the doctor fill out and sign the Wellness for Life rider form and submit it to Accordia, you will receive a discount on your insurance costs.

Discount benefits kick in at Year 3 of the policy and continue to grow until Year 20, at which point the discounts remain steady.

Primary Insured

This rider adds additional death benefits for whoever is insured under the policy.

Terminal Illness

This rider provides an early portion of your death benefits should you be diagnosed with a terminal illness and have a life expectancy of one year or less.

Guaranteed Purchase Option

The Guaranteed Purchase Option rider allows the insured to increase the coverage amount without proof of current insurability.

Additional Insured

This rider adds up to three family members to the plan. It provides death benefits for each without the need to take out separate life insurance policies.

Accidental Death

This rider provides coverage for a death caused by an unforeseen accident.

Return of Premium

The Return of Premium Rider offers policyholders a death benefit at face value, plus premiums paid, minus withdrawals, with accumulated interest.

Insureds can select a fixed growth rate.

Monthly Deductions Waiver

This rider waives deductions for the policy, its riders, and any policy fees in the event the insured becomes completely disabled for six months or more before reaching a certain age.

Overloan Protection

This rider stops the policy from lapsing in cases of too many loans taken out against the policy.

You can add it to your policy at no charge, but a fee is taken by Accordia if the rider is used.

Child Insurance

The Children’s Insurance Rider offers coverage for children of the primary insured. The children must be between 15 days to 17 years of age.

The rider lasts until age 25, at which point the policyholder can convert the policy into a permanent one for up to 5x the face value.

Premium Waiver

This rider waives the premium to be paid each month in the event the insured becomes completely disabled for six months or more before reaching the age of 65.

Surrender Charge Waiver

This rider allows the policyholder to make a withdrawal without incurring a surrender charge in the event of confinement to a qualified nursing care facility.

Accelerated Access

The Accelerated Access rider permits policyholders to receive part of their death benefits in cases where a doctor diagnoses them with a qualified illness.

The rider is free until the receipt of associated benefits.

Accordia Life Eligibility and Application Process

When it comes to eligibility and the application process, there’s both good news and bad news.

The good news is that Accordia will work with anyone to find a suitable life insurance policy.

The bad news is that the application process is slower and more involved than it is for most other life insurance companies.

You can’t go online and purchase a policy. Instead, you have to use an agent.

Picture of Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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