Assurity Life Insurance is a Nebraska-based mutual company with an A- (Excellent) AM Best rating. Founded in 1890, they offer term life and final expense insurance with simplified underwriting options. They’re the largest insurance company to earn B Corp certification.
If you’re shopping for affordable life insurance with straightforward underwriting, Assurity Life deserves a look. This Nebraska-based company has been protecting families since 1890 and currently manages over $22 billion in life insurance coverage.
In this review, we’ll cover Assurity’s financial strength, the products most relevant to your coverage needs, and the honest pros and cons you should consider before applying.
About Assurity Life Insurance
Assurity Life Insurance Company is headquartered in Lincoln, Nebraska. The company operates as a mutual organization, meaning policyholders own it rather than stockholders. This structure allows Assurity to focus on long-term stability instead of short-term profits.
The company has a unique history. In 2005, three legacy insurers merged to form Assurity: Woodmen Accident and Life, Security Financial Life, and Lincoln Direct Life. All three trace their roots back to the 1890s.
Today, Assurity holds $2.6 billion in assets and employs approximately 400 people. They offer coverage in every state except New York.
One thing that sets Assurity apart is their B Corp certification. In 2015, they became the largest insurance company ever to earn this designation. B Corps must meet strict standards for social responsibility, environmental performance, and ethical business practices.
Assurity Life Financial Ratings
Financial strength matters when choosing a life insurance company. You want to know your insurer can pay claims decades from now.
Assurity has solid ratings from major agencies:
AM Best: A- (Excellent) with a Stable Outlook. This rating indicates Assurity has an excellent ability to meet their insurance obligations. They’ve maintained this rating since 2019.
Better Business Bureau: A+ rating. This reflects their track record of handling customer complaints and maintaining ethical business practices.
These ratings confirm Assurity is financially stable and capable of paying claims. While an A- rating is strong, it does fall slightly below top-tier carriers like Guardian or MassMutual that hold A++ ratings.
Assurity Life Insurance Products
Assurity offers several life insurance products. We’ll focus on the options most relevant for people seeking straightforward protection: term life insurance and final expense coverage.
Term Life Insurance
Term life is the most affordable way to get substantial coverage. Assurity offers two main term products.
LifeScape NonMed Term 350 is their simplified issue option. You won’t need a medical exam, but you’ll answer health questions and allow Assurity to check your prescription history and driving record. Coverage ranges from $50,000 to $350,000 with terms of 10, 15, 20, or 30 years. This product is available to applicants ages 18-65.
LifeScape Term 350 requires full underwriting including a medical exam. This option offers coverage amounts above $350,000 and accepts applicants up to age 74. Both products feature level premiums that won’t increase during your term.
Both term products include an accelerated death benefit rider at no extra cost. This lets you access a portion of your death benefit if you’re diagnosed with a terminal illness. You can also convert either policy to permanent coverage until age 65 without additional medical underwriting.
Final Expense Insurance
For seniors looking to cover burial costs and leave a small inheritance, Assurity offers LifeScape Simplified Whole Life Insurance. This is a final expense product with face values from $5,000 to $50,000.
Assurity provides three versions based on your health:
Level Benefit is for the healthiest applicants. Your full death benefit is payable from day one. Coverage ranges from $5,000 to $50,000.
Graded Benefit is for applicants with moderate health concerns. If you pass away in year one, beneficiaries receive 40% of the death benefit. In year two, they receive 75%. After year three, the full benefit is payable. Coverage ranges from $5,000 to $35,000.
Modified Benefit is for applicants with more significant health issues. Beneficiaries receive only 10% of the death benefit if death occurs in the first two years. After that, the full benefit applies. Coverage ranges from $5,000 to $25,000.
Other Products
Assurity also offers whole life insurance, universal life insurance, and supplemental coverage like accidental death and disability income insurance. These products serve different needs. If you’re interested in permanent coverage beyond final expense, we can help you compare options from multiple carriers.
Assurity Life Insurance Riders
Riders let you customize your policy. Assurity offers these options:
- Accelerated Death Benefit: Access funds if diagnosed with a terminal illness (included free on term products)
- Accidental Death Benefit: Extra payout if death results from an accident
- Child Rider: Add coverage for your children under one policy
- Waiver of Premium: Premiums are waived if you become disabled
- Guaranteed Insurability: Buy more coverage later without proving insurability
- Critical Illness Benefit: Receive a payout upon diagnosis of certain serious conditions
Most riders must be added when you first purchase your policy. Talk with your agent about which options make sense for your situation.
Eligibility and Application Process
Assurity doesn’t offer online applications. You’ll need to work with a licensed insurance agent to apply.
For their simplified issue products, you’ll answer health questions and authorize Assurity to check your Medical Information Bureau (MIB) records, prescription history, and motor vehicle report. No blood draw or physical exam required.
For fully underwritten policies, expect a standard process including a medical exam. This typically means a paramedical professional visits your home to collect blood and urine samples and record your vital signs.
Age limits vary by product. Term life is available to ages 18-74. Final expense products accept applicants into their 80s depending on the specific plan.
Pros and Cons of Assurity Life Insurance
Pros
No-exam options available. Assurity’s NonMed Term product lets healthy applicants skip the medical exam and still get competitive rates on coverage up to $350,000.
Discounts for healthy applicants. You may qualify for lower rates if you’re a non-tobacco user, have healthy blood pressure, or have a clean family health history.
Strong ethical reputation. As the largest B Corp-certified insurer, Assurity demonstrates commitment to social responsibility. They support local food banks, Habitat for Humanity, Special Olympics, and other community programs.
Solid financial ratings. An A- from AM Best and A+ from the BBB indicate stability and good business practices.
Cons
Limited claims reporting options. You can’t report claims online or call 24/7. Claims must go through their customer service team during business hours or via email.
Not available in New York. If you live in New York, you’ll need to look at other carriers.
Mid-tier financial strength. While an A- rating is good, some buyers prefer carriers with A+ or A++ ratings from AM Best.
Assurity Contact Information
Assurity’s client services team can help you find an agent or answer questions about coverage.
Phone: 800-869-0355
Email: clientservices@assurity.com
Mail: Assurity Life Insurance Company, P.O. Box 82533, Lincoln, NE 68501-2533
Hours: Monday through Thursday 7 a.m. to 6:30 p.m. CST, Friday 7 a.m. to 5 p.m. CST
Frequently Asked Questions
Is Assurity Life Insurance a good company?
Yes, Assurity is a reputable insurer with an A- (Excellent) rating from AM Best and over 130 years in business. They’re financially stable and known for ethical business practices as a certified B Corporation.
Does Assurity Life require a medical exam?
Not always. Their LifeScape NonMed Term product offers coverage up to $350,000 without a medical exam. You’ll still answer health questions and allow them to check your prescription and driving records.
What states does Assurity Life operate in?
Assurity offers coverage in 49 states. New York is the only state where they don’t sell life insurance policies.
Does Assurity offer final expense insurance?
Yes. Their LifeScape Simplified Whole Life product is designed for final expense needs with coverage from $5,000 to $50,000. They offer level, graded, and modified benefit options based on your health.
How do I file a claim with Assurity Life?
Contact their client services team at 800-869-0355 during business hours or email clientservices@assurity.com. Online claim filing isn’t currently available.
Key Takeaways
- Assurity Life holds an A- (Excellent) AM Best rating and has been in business since 1890
- They offer no-exam term life up to $350,000 and final expense coverage from $5,000 to $50,000
- As a mutual company and certified B Corp, they prioritize policyholders over shareholders
- Coverage is available in 49 states (not New York)
- Healthy applicants may qualify for discounts on premiums
Ready to see your options? Use our free quote tool to compare Assurity rates alongside other top-rated carriers. We can help you find the right coverage.
