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Assurity Life Insurance Company Review & Complaints: Life & Health Insurance

Assurity Life Insurance Company rating is A+ with the Better Business Bureau, but our Assurity Life Insurance review reveals that there is not enough information available online. Connect with a Assurity Life Insurance agent to get life insurance quotes.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Sep 14, 2020

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Headquartered in Lincoln, Nebraska, Assurity is a mutual life insurance company that was created from the merger of three much older companies. They are one of the rare insurance companies to be certified as a B Corp, meeting strict standards.

About Assurity

Assurity Life Insurance Company completed the merger of its three founding companies in 2007; it is comprised of Woodmen Accident and Life (founded in 1890), Security Financial Life (founded in 1895), and Lincoln Direct (founded in 1896)

Assurity operates as a mutual company and as a B Corp, which means they have been certified as meeting social and environmental performance standards. Their headquarters, the Assurity Center, is a LEED Gold certified building, which again means it adheres to strict standards in construction and function.

The company sells life insurance and supplemental health insurance policies in 49 states and the District of Columbia. They offer both individual and workplace benefits products.

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Assurity Products

Assurity does not provide a lot of detail on their products, more of a basic overview and generalities. They write all types of life insurance and several different supplemental policies.

Life Insurance

Life is offered in term life insurance, whole life insurance, and universal life insurance options. The site does not list any information on term lengths, death benefits, or issue age.

An Accidental Death policy is also available, which provides a death benefit only in the event of accidental death. This type of policy is usually more affordable because it excludes all non-accidental causes of death.

Supplemental Health

Assurity has two main supplemental health plans. These are Disability Income and critical illness.

Disability income offers monthly income replacement, but the site does not give information on the benefit amounts or the length of coverage.

Critical Illness policies are lump-sum payments that pay out in the event of a diagnosis for one of the listed illnesses.

Annuities

Annuities are offered to provide retirement income. The Assurity website gives no detail on the plan options or types.

Workplace Benefits

The Workplace benefits list of options from Assurity is:

  • Term, whole, or universal life
  • Disability Income
  • Hospital Indemnity
  • Cancer Expense
  • Critical Illness
  • Accident Expense

Rates

Not surprisingly, Assurity’s website does not offer online quoting and there are no rates on the site. Based on the lack of information given regarding their products online, it is what we would expect as the company directs visitors to contact an agent for further information and details.

It is difficult to guess how this company would compare to its competitors in terms of rates.

Claims

Claims can be reported via a toll-free number or an email address. A fax number is also listed.

The website offers a list of claims forms for download that can be filled out and then returned to the company when completed via email or fax.

There is not much in the way of information in terms of claims, but there is a customer login area where more detail might be found.

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Ratings and Consumer Reviews

Assurity has an A+ rating with the Better Business Bureau (BBB), and there are a total of four complaints on file in the past three years. They have been accredited since 1992. No customer reviews can be found on the site.

There are 10 Google reviews with an overall four-star rating, which is impressive for an insurance company of any type. None of the reviews, however, offer much in the way of detail, and some appear to be praising the building itself and not the company’s service.

The limited reviews of this company raise no concerns, and overall the low volume of complaints is in the company’s favor.

The Bottom Line

There simply is not enough information here to allow us to form an opinion of Assurity. We have no concerns about their reputation but are unable to speak to the quality or value of their products. Those that want to work with a B Corp that has a commitment to social and environmental standards will want to give Assurity a closer look.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

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Assurity
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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

5 Comments

  1. Be prepared – If you pass away within 2 years make sure your family has enough funds to pay for your funeral and any other costs, because I promise you –

    After 68 days Assurity is STILL digging to find any reason not to pay! We were 4 months shy of the effective date of the policy and my mom passed away from infection in the blood – BRAND NEW DIAGNOSIS!

    We’ve been told they are not looking for medical records to confirm the cause of death was something she had before BUT if there was anything they didn’t know about when the policy was taken out.

    SERIOUSLY. My mom died and you want to hunt for any reason not to pay a family in need. Sad world we live in.

    68 days and still waiting!!!!

    Reply
  2. I cannot understand why this company is still allowed to even do business! Masters of deception and twisting the truth. My co-workers and I were switched to Assurity (from Aflac) by a deceptive agent. He claims Assurity is much better ,and it probably is, for him and the people employed there. Now our entire company (minus the 20 or so who have been smart enough to drop it) are stuck with this. Policies and exclusions seem to change at random (always in their favor) and other than paying you $50 dollars each year for what they call a wellness visit (which is about 1 months premiums) we were all duped into purchasing there supplemental insurance. Accident, Critical Illness, Hospitalization. Any Accident that happens in the work place -where it is most likely to happen-not covered (work comp covered that) however work comp doesn’t cover the couple of days off, transportation, spouses time off -the expenses you would think your supplemental insurance would cover! Our agent might have forgot to mention that! When you sign up you look at a very small folder that looks very appealing. Once you file a claim you better get out the magnifying glass and read through it. I’ll bet whatever your claim -Not covered! Oh yeah, skin cancer isn’t cancer to them either. I will share my story with anyone who wants to know about Assurity!

    Reply
    • Please share your story.

      I have them now and premiums are expensive so I want to make sure they are worth it!

      Reply
  3. Hello,

    I acquired a cancer policy with Assurity in 2006 with the stipulation that in 20 years, if the policy had not been used, I would get my money back. I have been having some issues with Assurity lately due to continually raising their rates so I called the co and asked about cancelling with a prorated return of policy. They stated that looking at my policy, it looked like I would receive around 5,000.00 return of policy as I had paid for 11 years. I asked for a written quote. I received my quote yesterday and it stated that I would receive nothing back. I don’t understand. Is there any way to fight this?

    Reply
    • Hi Glenna,

      It will depend on what the actual documents you originally signed say. If you kept copies, I would recommend contacting a local insurance attorney and have them take a look. If you don’t have the policy documents, ask the insurance company to send them over.

      Best,
      Eric Stauffer

      Reply

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