Last Updated: January 31st, 2026
Phoenix Life Insurance, now operating as Nassau Life Insurance Company, holds a B++ (Good) AM Best rating as of February 2025. The company offers no-exam term life insurance through its Safe Harbor Term product (10-30 year terms) and final expense coverage through Remembrance Life. With over 170 years in the industry and $25.6 billion in assets under management, Nassau provides living benefit riders at no extra cost.
Phoenix Life Insurance Company has been a trusted name in life insurance since 1851. Today, the company operates under Nassau Life Insurance Company after being acquired by Nassau Financial Group in 2016.
The rebrand didn’t change what matters most to policyholders. Nassau continues to offer the same straightforward life insurance products and excellent customer service that Phoenix was known for. In fact, the company’s financial strength has improved significantly in recent years.
This review covers everything you need to know about Nassau Life Insurance (formerly Phoenix Life), including current financial ratings, available products, pricing factors, and whether it’s the right fit for your coverage needs.
About Nassau Life Insurance Company (Formerly Phoenix Life)
Nassau Life Insurance Company is headquartered in Hartford, Connecticut. The company traces its roots back to 1851 when it was founded as the American Temperance Life Insurance Company by religious, civic, and business leaders.
Here’s a snapshot of where the company stands today:
| Company Detail | Information |
|---|---|
| Headquarters | Hartford, Connecticut |
| Founded | 1851 |
| Assets Under Management | $25.6 billion |
| Active Policies | 363,000+ |
| States Licensed | 46 + District of Columbia |
| Parent Company | Nassau Financial Group |
Nassau Life Insurance Financial Ratings
Financial strength ratings help you understand how likely an insurance company is to pay claims. Nassau’s ratings have improved steadily over the past several years.
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best (Feb 2025) | B++ (Good) | Strong ability to meet ongoing obligations |
| AM Best Long-Term ICR | bbb+ (Good) | Upgraded from bbb in 2025 |
| KBRA | BBB+ | Investment grade rating |
| Fitch | Withdrawn | No longer rated by Fitch |
| S&P Global | Rated | Applies to Nassau subsidiaries |
| BBB | A+ | Not BBB accredited |
The February 2025 AM Best upgrade reflects Nassau’s improved operating performance over the past several years. According to AM Best, the company has shown “continued earnings diversification” and “effective prudent expense management.”
What does a B++ rating mean for you? It indicates the company has a strong ability to meet its financial obligations to policyholders. While it’s not the highest possible rating, it’s considered “Good” and has been trending upward.
Nassau Life Insurance Products
Nassau focuses on two main life insurance products: term life and final expense coverage. The company stopped offering universal life insurance in 2017 to concentrate on these core offerings.
Nassau Safe Harbor Term Life
Safe Harbor Term is Nassau’s term life insurance product. It’s available in 10, 15, 20, and 30-year terms with no medical exam required.
The policy comes in two versions:
Safe Harbor Term Express
- Coverage: $25,000 to $400,000
- No medical records required
- Faster approval (often within days)
- Best for those who want quick coverage
Safe Harbor Term (Non-Express)
- Coverage: $50,000 to $500,000
- Medical records may be required
- Longer underwriting process
- Often results in better rates for healthy applicants
Both versions include living benefit riders at no additional cost. You can apply between ages 18 and 80, though maximum coverage amounts decrease with age.
| Term Length | Maximum Issue Age |
|---|---|
| 10 Years | 80 |
| 15 Years | 70 |
| 20 Years | 65 |
| 30 Years | 50-55 (tobacco status dependent) |
Nassau Remembrance Life (Final Expense)
Remembrance Life is Nassau’s whole life insurance product designed to cover funeral costs and other end-of-life expenses.
Key features include:
- Coverage amounts from $10,000 to $50,000
- Available for ages 50 to 80
- No medical exam required
- Guaranteed cash value accumulation
- Coverage for life (doesn’t expire)
- All riders included at no extra cost
This policy provides a death benefit from day one, so there’s no waiting period before your beneficiaries would receive the full payout.
Life Insurance Riders Included
One of Nassau’s biggest advantages is that living benefit riders come standard with all policies at no additional cost. Most competitors charge extra for these valuable features.
Accelerated Death Benefit Rider
Access up to 95% of your death benefit if diagnosed with a terminal, chronic, or critical illness. The amount you can receive depends on your health condition and life expectancy. Using this rider reduces the final death benefit paid to your beneficiaries.
Accidental Death Benefit Rider
Pays up to $250,000 extra if death results from a covered accident. This rider is free with Remembrance Life policies and available for an additional fee with Safe Harbor Term.
Unemployment Rider
If you become unemployed for at least 30 days and receive unemployment benefits, Nassau will waive your premiums for up to six months. This can provide valuable peace of mind during difficult times.
Application Process
Nassau has streamlined the application process to make getting coverage as simple as possible.
The process typically works like this:
- Complete an online application (takes about 15-20 minutes)
- Answer health questions on the questionnaire
- Provide personal information and beneficiary details
- Authorize premium payment
- Receive a decision (often within days for Express policies)
No medical exam is required for any Nassau life insurance product. The Express version of Safe Harbor Term doesn’t require medical records, which speeds up approval significantly. The non-Express version may require an Attending Physician’s Statement (APS), which can add time to the process.
Once approved, policies can be signed electronically. If you need help during the application, Nassau’s customer service team is available by phone to walk you through each step.
Pros and Cons of Nassau Life Insurance
Pros
- AM Best rating improved to B++ (Good) in 2025
- No medical exam required for any product
- Living benefit riders included free
- Trustpilot “Excellent” rating (95% five-star reviews)
- 170+ year history in the insurance industry
- Term policies can convert to permanent coverage
- Simple online application process
Cons
- Limited product selection (only term and final expense)
- Lower financial rating than some major competitors
- Non-Express policies can take several weeks for approval
- Maximum coverage amounts are lower than some insurers
- Not available in all 50 states (licensed in 46 states)
Is Nassau Life Insurance Right for You?
Nassau Life Insurance works well for certain situations. Consider Nassau if you want no-exam life insurance with living benefits included at no extra cost. The company’s term life and final expense products are competitively priced, and customer service reviews are consistently positive.
The company may be a good fit if you’re looking for straightforward coverage without complicated options or riders to navigate. Nassau keeps things simple with just two main products, which can make decision-making easier.
You might want to compare other life insurers if you need higher coverage amounts (over $500,000), universal life insurance, or prefer a company with an A+ rating. Some applicants may also find better rates with fully underwritten policies from other carriers.
The bottom line: Nassau Life Insurance has shown steady improvement in financial strength and maintains excellent customer satisfaction scores. For no-exam term life or final expense coverage with valuable living benefits included, it’s worth getting a quote.
Frequently Asked Questions
Yes. Phoenix Life Insurance Company was acquired by Nassau Financial Group in 2016 and now operates under the Nassau Life Insurance Company name. Existing Phoenix policies remain valid, and the company continues to honor all policy terms.
No. Both Safe Harbor Term and Remembrance Life products are no-exam policies. You’ll need to answer health questions on an application, and the non-Express term option may require medical records, but no physical exam is necessary.
As of February 2025, Nassau Life Insurance Company holds an AM Best Financial Strength Rating of B++ (Good). This rating was upgraded from B+ and reflects the company’s improved financial performance.
Yes. Safe Harbor Term policies can be converted to Remembrance Life (permanent coverage) during the conversion period without new medical requirements. Your underwriting classification carries over to the new policy.
Safe Harbor Term Express policies can be approved within days since no medical records are required. The non-Express version and Remembrance Life may take longer if an Attending Physician’s Statement is needed, sometimes several weeks.
Key Takeaways
- Nassau Life Insurance (formerly Phoenix Life) holds a B++ (Good) AM Best rating as of February 2025, an improvement from previous years
- The company offers two main products: Safe Harbor Term Life (10-30 year terms) and Remembrance Life (final expense)
- No medical exam is required for any Nassau life insurance product
- Living benefit riders are included free with all policies, allowing access to up to 95% of the death benefit for qualifying illnesses
- Nassau has $25.6 billion in assets under management and over 363,000 active policies
- Customer reviews are strong, with a Trustpilot “Excellent” rating based on 95% five-star reviews
Ready to compare your options? Getting the right life insurance coverage doesn’t have to be complicated. Call us at 800-712-8519 for a free, no-obligation quote, or use the quote tool on this page to see your options in minutes.
