Assurity Life Insurance Review [2021]

Assurity life insurance coverage can be purchased as a term, whole, or universal life insurance policy. This company is a registered B-Corp, which means all of its decisions are made with the best interests of its customers, employees, and communities in mind. Assurity life insurance rates start at $16/mo but comparing life insurance quotes online is the easiest way to find more affordable rates.

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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: Jul 19, 2021

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Quick Facts

  • Assurity has been in business for over 100 years; the company was founded back in 1890
  • This company provides insurance products to individuals and group insurance products to businesses
  • Assurity is a certified B-Corp and is legally required to weigh the impact of its business decisions on society as a whole

Many life insurance companies don’t offer both group and personal term life insurance policies, but Assurity life insurance is sold to individuals and businesses too.

This company has been in business for well over 100 years, and Assurity is a certified B-Corp.

As a certified B-Corp, Assurity Life Insurance Company is legally required to weigh the impact of its business decisions on its workers, customers, community, and the environment as a whole. B-Corps strive to be more responsible with their profits and business decisions.

Assurity Life Insurance Company offers a wide range of life insurance products for consumers to choose from. It also offers a number of other products and services, but this review will only focus on the company’s life insurance offerings.

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What life insurance products does Assurity sell?

Assurity life products include term life insurance, whole life insurance, universal life insurance, and group life insurance. Since group life insurance is for employers to purchase for their employees, we will not cover this type of policy in this review.

Our review will look at the individual life insurance policies offered by Assurity Life Insurance Company and what their differences are. We’ll help you get an understanding of these products and how they work so, you can make an informed life insurance decision.

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What are the specifics of Assurity’s term life insurance products?

Assurity’s term life insurance policies are offered with 10, 20, and 30-year term lengths. Assurity doesn’t have quite as many term life insurance options as other companies, but Assurity does give its term life customers the option to convert their term policy to a permanent life policy.

Term life insurance policies are the most affordable life insurance policies with comprehensive coverages offered by life insurance companies.

Term life insurance policies are great for people who only need life insurance coverage for a period of their life. If you’re not sure what your needs will be, Assurity allows you to convert your term policy to a permanent life policy.

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What are the specifics of Assurity’s whole life insurance products?

Whole life insurance differs from term life insurance in a few key ways:

  • One, whole life insurance coverage lasts for your whole life, and;
  • Two, whole life insurance coverage also has a cash value that can be borrowed against should the financial need arise.

Whole life insurance rates are more expensive than term life. Check out how Assurity life insurance costs compare to other companies for women with $100,000 in coverage:

Average Monthly Whole Life Insurance Rates for a Female with $100,000 in Coverage
CompaniesAge 50 Average Monthly Rates Age 55 Average Monthly Rates Age 60 Average Monthly RatesAge 65 Average Monthly Rates
AAA $15.40$18.83$25.61$37.93
Accordia Life $41.83N/A$101.24N/A
AIG $15.04$20.96$25.58$44.93
Assurity $16.53$22.97$32.71$49.76
Foresters Financial $13.13$17.41$25.46$34.39
Liberty Mutual$32.94$39.15$59.76$81.27
MassMutual$14.62$20.28$28.19$42.64
Mutual of Omaha $16.73$21.97$29.20$46.57
Prudential$21.27$23.80$29.49$41.13
State Farm $23.49$29.67$40.98$59.51
TransAmerica$17.46$25.89$36.98$59.94
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Gender and age impact whole life insurance rates, so it’s important to compare Assurity life insurance quotes against other companies in your area to find the best rates.

See the table below to compare Assurity whole life insurance rates for men from 50-65 years of age with $100,000 in coverage:

Average Monthly Whole Life Insurance Rates for a Male with $100,000 in Coverage
CompaniesAge 50 Average Monthly Rates Age 55 Average Monthly Rates Age 60 Average Monthly Rates Age 65 Average Monthly Rates
AAA $17.78$22.53$37.14$59.93
Accordia Life$16.91$23.36$56.07$153.53
AIG $17.01$26.62$38.22$55.07
Assurity $20.10$28.45$44.20$67.08
Foresters Financial $15.31$20.83$34.04$43.66
Liberty Mutual $40.32$55.35$95.58$141.93
MassMutual$16.97$24.10$35.50$61.68
Mutual of Omaha$18.88$27.65$41.67$59.73
Prudential$21.88$28.18$37.72$58.45
State Farm $26.54$34.45$51.50$83.09
TransAmerica $20.21$30.10$42.66$71.29
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Assurity’s whole life insurance customers may also get paid out a dividend. This dividend is not a guaranteed feature of their whole life insurance policies, but the possibility exists.

Assurity also offers their whole life insurance policies as a single premium product. Meaning you pay one lump sum and have life insurance coverage for the rest of your life.

What are the specifics of Assurity’s universal life insurance products?

Universal life insurance is permanent life insurance that is very similar to whole life insurance. Universal life insurance coverage lasts for a lifetime, it has a cash value that grows over time and can be borrowed against, but universal life insurance is more flexible.

Assurity’s universal life insurance customers can adjust their premium payments and their benefits as they need to meet their current financial and life insurance needs.

Universal life insurance is the best way to have permanent life insurance coverage with the flexibility to adjust your policy as you need.

If you are interested in learning more about permanent life insurance, you can check out the Insurance Information Institute’s helpful resources on the subject. There are a lot of different things to consider when purchasing life insurance, so it’s important to get all of the information that you can.

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Can I access my Assurity life insurance policy online?

Assurity allows current policyholders to access their life insurance policies on their company website by using their Assurity login information. Assurity customers can file a claim, make a premium payment, or even change their beneficiary all online.

Assurity makes managing your life insurance policy simple with its online portal.

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How strong is Assurity financially?

Independent review A.M. Best has given Assurity an A-. This is the fourth highest possible financial rating given by the company. This means that Assurity is a strong company financially and should have no issues making benefit payments on time.

It is important to choose a life insurance company with strong financial ratings so that you can be assured that you will get your benefit money when you need it most.

Assurity Life Insurance: What’s the bottom line?

Assurity offers a good amount of life insurance choices for consumers to choose from. Whether you are looking for term life, whole life, or universal life insurance coverage, this company has a policy that will fit your needs.

This company is also interesting because it also offers group term life insurance for employers to purchase as part of an employee benefits package.

We didn’t go over group life offerings in any detail, but if you are interested in learning more about this coverage, you can contact Assurity.

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