Accordia Life vs. Sagicor: Best Life Insurance Company in 2021

Comparing Accordia Life vs. Sagicor based on available insurance products, potential premiums, and financial ratings finds companies with very different options. Accordia Life offers indexed universal life insurance along with pre-need coverage, while Sagicor offers term and whole life insurance with annuity options. Sagicor has cheaper life insurance rates than Accordia Life. Accordia has a superior rating with A.M. Best.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Apr 29, 2021

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Quick Facts

  • Among its products, Accordia Life offers indexed universal life insurance and pre-need insurance
  • In most instances, Sagicor offers lower life insurance rates
  • Both companies have excellent financial ratings from A.M. Best

There are countless companies from which you can purchase life insurance. It is important to know the specifics of each company before you make a decision on insurance coverage.

This Accordia Life vs. Sagicor review will discuss each company’s life insurance products, including term and permanent life insurance, standard rates for coverage, and much more.

Once you’ve read our Accordia Life vs. Sagicor review, enter your ZIP code above to find life insurance rates that work for you.

Accordia Life vs. Sagicor: What products are available?

Accordia Life and Prudential both offer several types of life insurance options to their policyholders.

Accordia Life Insurance Products

Accordia Life offers two main types of life insurance coverage: indexed universal life insurance and pre-need life insurance.

Indexed universal life insurance is a subset of permanent life insurance that allows policies to accumulate a cash value.

Accordia’s offers the following indexed universal life insurance options:

  • LifeTime Foundation ELITE: A standard policy
  • LifeTime Builder ELITE: A flexible policy with death benefit options, policy loan options, and several different interest-crediting strategies
  • Global Accumulator: A policy with the option of an additional crediting strategy

Along with indexed universal life insurance, Accordia offers pre-need life insurance.

Pre-need life insurance is a type of permanent life insurance that lists a specific funeral home as the beneficiary of the policyholder’s policy. When creating the policy, the individual plans their funeral services and ultimately determines the death benefit.

With a pre-need policy, the policyholder’s death benefit is paid directly to whatever funeral home they choose. This type of coverage allows the policyholder’s family to avoid making arrangements or paying for funeral expenses out-of-pocket.

Sagicor Life Insurance Products

Sagicor offers term life insurance, permanent life insurance, and annuities.

Sagicor’s Sage Term life insurance is available in 10, 15, and 20-year terms with a level death benefit up to age 95.

Sagicor Life Insurance Details
 Sage Term Features
Age Availability18-95 years
UnderwritingSimplied Issue
Accelerated Death Benefit$25,000 - $300,000
Length of Coverage10-year
15-year
20-year
Minimum Coverage$50,000
Max Coverage$500,000
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All term life policies offer the option of converting into permanent coverage, and many policyholders have the option of income assistance due to either a terminal condition or confinement in a nursing home.

Additionally, Sagicor offers three options for permanent life insurance coverage:

  • WealthCare Indexed Single Premium Universal Life: A lifetime guaranteed policy with cash value growth opportunities
  • Sage Whole Life: Fixed rates with no fear of an increase in premiums
  • Sage Indexed Universal Life: Includes an immediate death benefit and wealth accumulation potential

Both Sagicor term and permanent life insurance come with the option of additional riders.

Sagicor also offers three annuities to interested policyholders, which include:

  • Single-Premium Immediate Annuity: Provides a reliable and consistent stream of income
  • Milestone MYGA Single Premium Deferred Fixed Annuity: Provides a fixed rate of interest over a specific period of time
  • Sage Choice Single Premium Preferred Annuity: Earns a competitive interest rate that accumulates based on a tax-deferred basis

Let’s look at some Accordia Life vs. Sagicor Life insurance quotes to see which is cheaper.

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How do Accordia Life vs. Sagicor life insurance rates compare?

Because Accordia and Sagicor differ in the types of policies they offer, it makes sense that their rates are also different.

A sample of Accordia’s standard rates is as follows:

Sample Accordia Average Monthly Life Insurance Rates by Age and Gender
Age of Female Non-SmokerAccordia Life Average Monthly Rates $100,000/20-year (Men)Accordia Life Average Monthly Rates $100,000/20-year (Women)
25$11.93$10.68
30$12.28$10.77
35$12.28$11.57
40$16.02$13.71
45$22.16$17.53
50$30.79$23.85
55$46.10$33.38
60$75.38$52.51
65$166.88$95.68
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As you can see, a man in his 30s has the option to pay less than $13 a month for term life insurance coverage, while someone in his late 60s stands to pay nearly $170.

In comparison, Sagicor’s monthly rates for term life insurance tend to be anywhere from $3-$20 less for men and nearly 50% less for most women.

For both companies, women are likely to pay a great deal less for coverage than men in the same age bracket.

Does Accordia or Sagicor have better financial ratings?

Accordia Life and Annuity Company has a financial strength rating of A from A.M. Best. This implies that the company will have no issues meeting any and all financial obligations.

In comparison, Sagicor has an A- financial rating from AM Best. Sagicor is also considered a stable company with the ability to meet all financial requirements.

Sagicor has also garnered an A+ rating with the Better Business Bureau, and the company has been accredited since 2009.

While Accordia ranks slightly higher than Sagicor with regard to financial stability, the good news is that both companies are considered healthy and capable of meeting the requirements of their policyholders.

Do Accordia Life and Sagicor let me make claims online?

Accordia Life does not have a website that allows individuals to communicate directly with an agent or file a claim. Potential policyholders do not even have the opportunity to get a quote from the company’s website.

Rather, individuals must seek out an agent to help them get a quote for life insurance.

Sagicor, on the other hand, allows individuals to get a quote, file a claim, and see the status of a claim online. Sagicor also offers much more information about individual policies and add-ons via their website.

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Accordia Life vs. Sagicor: Which company is best for life insurance?

If you are wondering whether to buy Accordia Life vs. Sagicor life insurance based on everything we have discussed above, the truth is that it depends on a lot of individual factors.

What type of policy do you want to purchase? Do you want to add riders or annuities to your policy? Have you considered putting additional family members on your life insurance plan?

The more you consider the questions that impact your life and family, the more you will begin to decide which company is best for you.

Now that you have seen how affordable Accordia Life vs. Sagicor life insurance might be for you and read all about both companies take the time to shop around. Enter your ZIP code below to see insurance rates from many companies.

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