UPDATED: Mar 18, 2020
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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.
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.
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.
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 are offered to provide retirement income. The Assurity website gives no detail on the plan options or types.
The Workplace benefits list of options from Assurity is:
- Term, whole, or universal life
- Disability Income
- Hospital Indemnity
- Cancer Expense
- Critical Illness
- Accident Expense
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 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.
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.