Assurity Life Insurance Company Review
Some companies gain a good name through financial strength, customer service, and by standing the test of time. One such company is Assurity Life Insurance Company whose beginnings go back 125 years. Assurity Life Insurance Company is a mutual insurance company, meaning it is owned by its policyholders. It specializes in disability and life insurance products for individuals and businesses as well as annuities.
Assurity Life Insurance Company Overview
Assurity Life was formed through a 2005 merger of three companies all founded in the 1890s; Woodmen Accident and Life, Security Financial Life and Lincoln Direct Life. There are approximately 400 employees working out of the Lincoln, Nebraska headquarters.
Assurity has more than $2 billion in assets and markets its life insurance and disability products through independent agents in 49 states and the District of Columbia. The company is involved in giving back to the community and sponsors many volunteer activities including collecting for local food banks, blood drives, Habitat for Humanity, the holiday “giving tree,” Junior Achievement, Special Olympics, and many others.
Assurity became a certified B Corporation in 2015. This distinction is for companies who exhibit an explicit social and environmental mission and take responsibility for its workers, the community, the environment and policy holders.
B Certified corporations must pass an 80-point certification that evaluates how the company interacts with workers, customers, the community, and the environment.
Financial Stability Ratings
You can always tell much about a company’s success and future outlook by its financial stability ratings. A. M. Best insurance rating organization has given Assurity Life Insurance Company its highest rating of “A-” Excellent.
As a mutual life insurer (mutual companies are owned by policyholders), Assurity has paid back its policyholders $11.5 million in dividends.
Customer Service Ratings and Company Recognitions
Companies who have a high Better Business Bureau rating are those who have a record of resolving customer complaints in a timely and satisfactory manner. Assurity Life Insurance Company has a BBB rating of “A+.” Assurity Life Insurance Company was has been accredited with the Better Business Bureau since 1992. Over a three-year time period, there were only two complaints filed against Assurity Life Insurance Company. That is an exemplary record for a company of this size. Through the years, Assurity Life Insurance Company has received numerous awards and recognitions including the 2017 Gallup Great Workplace Award.
Assurity believes in giving back to the community. Employees receive time off for more than 12 different volunteer opportunities.
Insurance and Financial Products for Individuals
- Disability Income Insurance
- Critical Illness Insurance
- Whole Life Insurance
- Term Life Insurance
- Universal life Insurance
- Accidental Death Insurance
Insurance and Financial Products for Businesses
- Voluntary Employee Benefits
- Accident Expense
- Cancer Expense
- Critical Illness
- Disability Income
- Hospital Indemnity
- Term Life
- Whole Life
- Universal Life
From the website, policy holders have the ability to create a user account from where they will be able to check on policy information, pay a bill or obtain policy forms for automatic bank payments, beneficiary designation, change of name/address, dividend option changes, certificate requests, loan requests, ownership transfer, payment option changes or a surrender request.
The Bottom Line
Assurity Life Insurance Company has an excellent financial strength rating from A.M. Best. This can help customers feel assured that the company will be around for years to come and went needed most to pay claims for you covered losses. Assurity has a record of giving back to its community and was voted one of the best places to work for 2017. Happy employees contribute to strong customer service. This is evident in the strong customer service record of the company with an “A+” rating with the Better Business Bureau. If you need life insurance, disability income insurance or annuities for yourself or your business; Assurity is a reputable company and worthy of consideration.
To get a quote, find a local agent or learn more about the insurance products available through Assurity, you can visit the Assurity Life Insurance Company website or call 1-800-869-0355, Monday through Thursday, 7 a.m. to 6:30 p.m., and Fridays 7 a.m. to 5:00 p.m. Central Standard Time.
Assurity Life Insurance "About Us https://www.assurity.com/about-us." Accessed April 29, 2020.
Assurity Life Insurance. "Our Impact Financial Information https://www.assurity.com/our-impact#financial-table." Accessed April 29, 2020.
Assurity Life Insurance Company. "Certified B Corporation https://bcorporation.net/directory/assurity-life-insurance-company." Accessed April 29, 2020.
B Lab. "Certification Certified B Corporation https://bcorporation.net/certification." Accessed April 29, 2020.
AM Best Rating Services. "Company Profile Assurity Life Insurance Company http://ratings.ambest.com/CompanyProfile.aspx?ambnum=7374." Accessed April 29, 2020.
Better Business Bureau®. "Assurity Life Insurance Company Profile https://www.bbb.org/us/ne/lincoln/profile/insurance-companies/assurity-life-insurance-company-0714-212000012." Accessed April 29, 2020.
Lincoln Journal Star. "Assurity named a great workplace in the world https://journalstar.com/business/achievements/assurity-named-a-great-workplace-in-the-world/article_7c100a90-d4cc-52fa-9a0a-f90ab6262942.html." Accessed April 29, 2020.
Assurity Life Insurance. "Customer Center https://www.assurity.com/customer-center." Accessed April 29, 2020.