Assurity Life Insurance Review

Term, whole, and universal life plans with high coverage limits

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overall rating

Our Take 

Assurity Life Insurance offers term, whole, and universal life insurance with coverage up to $10 million. Assurity is a strong life insurance company with a solid history that is available in all 50 states. If you are looking for high coverage amounts, Assurity offers some of the highest death benefits in the industry. However, if you want to compare rates online, you will need to look elsewhere, as policy quotes are only available directly from an independent agent.

  • Pros & Cons
  • Key Takeaways
  • Specifications
Pros & Cons
  • Many no-exam policies available

  • Can borrow against cash value of some policies

  • Most policies offer a level premiums

  • Policies come with annual fees (in addition to premiums)

  • Policies must be purchase through an agent

  • No indexed or variable universal policies available

Key Takeaways
  • Assurity has been in business since 1890 and is headquartered in Nebraska.
  • In addition to life insurance, Assurity also offers accidental death, critical illness, and disability insurance.
  • Assurity is a mutual insurance company, offering annual dividends to policyholders.
  • Assurity received only one formal complaint in 2020, according to NAIC, giving it high marks for customer service.
  • Year Founded 1890
  • Kinds of Plans Term, Whole, Universal
  • Number of Plans 5
  • Payment Options Monthly, Quarterly, Semi-Annual, Annual
  • Official Website


Assurity Life Insurance offers term, whole, and universal life insurance with high coverage limits. We researched Assurity’s financial stability, policy plan options, riders, website tools, and customer service reviews to help you compare the life insurance policy options of Assurity with the competition. 

Company Overview

Assurity Life Insurance was founded in 1890 as Modern Woodmen Accident Association, offering accident insurance policies. In 2005, it combined with Security Mutual Life and Lincoln Mutual Life to become Assurity Life Insurance, offering life, accidental death, critical illness, and disability insurance, as well as annuities. Assurity Life Insurance currently has over $20 billion in policies in force.

Assurity is headquartered in Lincoln, Nebraska, and is licensed to sell life insurance in all 50 states, with policies in New York underwritten by its sister company, Assurity Life Insurance Company of New York. Assurity is a mutual company, meaning that its policyholders own the company and profits are distributed back to policy owners via annual dividends.

Assurity is also a certified B corporation with a focus on social and environmental performance, public transparency, and legal accountability.

Available Plans 

Assurity Life Insurance offers five types of life insurance plans including term, whole, and universal plans. There are several policy riders available that add additional coverage options and flexibility to your policy. Some policies offer accelerated underwriting, meaning no medical exam is required for coverage. 

Policy quotes are not available online but require talking directly to an agent for an exact quote.

Term Life Insurance

Term life is a type of temporary life insurance coverage that covers the insured for a specific length of time. It is typically the least expensive type of life insurance, as it does not build cash value, or cover the insured for a lifetime. Assurity offers basic term life insurance with coverage available from $25,000 up to $10 million and term lengths of 10 to 30 years. Accelerated underwriting is available for this policy, depending on health status, but policies are capped at $500,000 in coverage for ages 18 to 50 and $350,000 in coverage for ages 51 to 65.

Assurity’s term policies are convertible, which means they can be converted to a whole life policy at the end of the term.

Whole Life Insurance

Whole life insurance is a type of permanent life insurance that guarantees lifetime coverage for the insured. These policies can accumulate cash value which can be borrowed against or accessed early with optional riders. The policies also have a guaranteed cash value and level premiums throughout the life of the policy. 

Assurity offers three types of whole life coverage:

  • Single Premium Whole Life: This policy is designed as a one-time lump-sum premium payment to give guaranteed lifetime coverage. Policies up to $700,000 in coverage are available from ages 18 to 60, and up to $450,000 in coverage is available from ages 61 to 85. 
  • Whole Life With Accelerated Underwriting: This policy offers up to $250,000 of coverage and is available without a medical exam for qualified individuals age 18 to 85.
  • Children’s Whole Life: This policy offers up to $100,000 in coverage for the children or grandchildren of the insured, available starting at 15 days old. Premiums are level, and policies are transferable without the need for the child to prove insurability.

Universal Life Insurance

Assurity offers universal life insurance with flexible insurance premiums and coverage amounts. Premiums paid into the policy accrue cash value, which earns interest in a tax-deferred account with a guaranteed interest rate. The policy’s cash value can be borrowed against tax-free, but note that borrowed amounts will reduce the death benefit of the policy until paid back. 

Universal life policies are available for individuals aged 85 or younger.

Available Riders

Assurity offers access to several riders to enhance policy coverage, including the ability to access funds early or even waive premiums under certain conditions. While some riders are included as part of the policy premium, rider fees are typically billed as a small percentage of the policy premium or as a flat annual fee. 

Fees vary by policy, product, and options selected.

Accelerated Death Benefit Rider

This rider allows you to request an advance of a portion of the policy’s death benefit if you are diagnosed with a terminal illness or require permanent care in a nursing facility. The advanced amount is subtracted from the death benefit paid.

Disability Waiver of Premium Rider

If you become disabled prior to age 65 (unable to work), you may be eligible to have your premiums waived.

Accident-Only Disability Income Rider

If you become disabled due to a covered accident (prior to age 65), you may be eligible to receive a monthly benefit.

Accidental Death Benefit Rider

This rider pays an additional benefit if the policyholder’s death is due to an accident (prior to age 70). 

Children’sTerm Benefit Rider

This rider offers level-term life insurance for your children up to age 25. Policies can be converted to a permanent policy with Assurity once they reach age 25.

Face Amount Increase Rider

Increases your universal life coverage at specified times, regardless of current health or occupation.

Level Term Rider

This rider provides additional 10- or 20-year term insurance to your policy.

Customer Service: Phone, Email, or Online Account

Assurity offers support over the phone, email, or online, or in-person with an independent agent. All new policies must be applied for directly with an independent agent. Policyholders can access their online account through Assurity’s website and make payments, start a claim, or change beneficiaries. 

Assurity Life Insurance customer service business hours are Monday-Thursday from 7:00 a.m. to 6:30 p.m CT, and Friday 7:00 a.m. to 5:00 p.m. You can reach Assurity customer service by calling 800-869-0355 or sending an email to

Assurity Life Insurance does not offer live chat support online.

Customer Satisfaction: Very Few Complaints 

According to the NAIC complaint index, Assurity only received one complaint in 2020, giving the company a score of 0.19. Average complaint scores are 1.0, with a lower score being better. This is an improvement on the 2019 score of 0.57 and 2018 score of 0.38. Overall, Assuirty receives very few complaints for a company its size.

Assurity is a smaller life insurance company and was not included in the J.D. Power 2020 Life Insurance Study. This study ranks the top 23 life insurance companies based on customer satisfaction.

Financial Strength: A- (Excellent)

Assurity Life Insurance is a strong financial company with an A- (Excellent) rating from AM Best. This rating is based on Assurity’s balance sheet, operating performance, and risk management. A high rating from AM Best assures customers that Assurity can pay out claims as needed.

Cancellation Policy: Hard to Find for Most Policies

Assurity follows the state-minimum free-look period for insurance policies. This is a period of 10-30 days after signing up for a new insurance policy during which you can cancel for a full refund.

After the free-look period, cancellation terms will vary. Once the free-look period ends, Assurity term life policies that are canceled will not provide a refund of premiums paid. 

For whole and universal life policy cancellations, there may be a surrender value available for refund, but there may also be a surrender charge and additional fees associated. 

Assurity’s cancellation fees are not publicly listed, so you will need to contact your independent insurance agent for details on Assurity policy cancellations.

Price of Assurity Life Insurance: Not Available Online  

Assurity policy quotes are not available online, and all policies are sold through independent agents. You will need to reach out to your insurance agent for policy quotes and fees.

Assurity policies do come with an annual fee in addition to policy premiums, which may be up to $70 per year.

How Assurity Life Insurance Compares to Other Life Insurance

Assurity Life Insurance offers a small selection of insurance policies with high death benefits available. Its term policies offer up to $10,000,000 in coverage, and some of the term and whole life policies offer accelerated underwriting, which means no medical exam is needed for coverage.

Assurity has decent customer service ratings according to NAIC, with fewer customer complaints than other companies its size. However, Assurity only sells through independent agents and quotes are not available online for any of its policies. 

Here's how Assurity compares with another life insurance company.

Assurity Life Insurance vs. Lafayette Life Insurance

Both Assurity and Lafayette Life Insurance offer a variety of life insurance policies, including term, whole, and universal life policies. Both sell insurance through independent agents, and both companies also charge additional policy fees. But while Assurity offers accelerated underwriting on most policy options, most of Lafayette Life Insurance’s policies will require a medical exam.

Here are a few more differences between Assurity Life Insurance and Lafayette Life Insurance:

  • Lafayette Life Insurance offers seven whole life plans to choose from.
  • Assurity Life Insurance offers a universal life insurance plan, while Lafayette Life insurance does not.
  • Lafayette Life Insurance is owned by a large privately-held holding company, while Assurity Life Insurance is a mutual company, owned by its policyholders.
  • Assurity Life Insurance offers more riders than Lafayette Life Insurance, including two accident death options.

While Assurity offers high coverage limits and no-exam policy options, Lafayette offers far more whole life policy options for those looking for permanent life coverage.

Read our full Lafayette Life Insurance review.

  Assurity Life Insurance Lafayette Life Insurance 
Market Share N/A N/A 
Number of Plans  5 8
Online Quotes Available?  No No 
Service Method  Email, phone, in-person Email, phone, in-person 
AM Best Rating  A- (Excellent) A+ (Superior) 
Complaints Index  0.19 (excellent) 0.16 (excellent) 
Final Verdict

Assurity offers high-coverage term life insurance, with many policies available with no medical exam required. It also offers many whole life options and a standard universal life policy for more flexible coverage. Assurity also has very few complaints, making it a good choice for quality customer service.

But if you are looking to compare quotes from insurance companies online, Assurity does not give pricing details online. And if you want more flexible universal life coverage, such as the ability to invest in index funds for growth, you will need to look elsewhere. Overall, Assurity has all the marks of a quality life insurance company, but make sure to compare them with other top life insurance companies to get the exact coverage you need at the best price available.


All of our reviews of life insurance companies are based on extensive research and analysis of each company’s offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown of what we evaluated for over two dozen companies.