Assurity vs. Lincoln: Best Life Insurance Company in 2021

When it comes to Assurity vs. Lincoln life insurance, both companies offer annuities along with their term life and universal life insurance policies. Both companies have higher rates than the national average, but they both score high in financial and customer service ratings. Should you choose Assurity, you may have greater access to living benefits with a permanent life insurance policy. However, Lincoln gives you more options for coverage, plus more annuities.

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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: Aug 23, 2021

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Quick Facts

  • Assurity and Lincoln offer accelerated benefits and allow policyholders to add policies for their children
  • Assurity offers more riders and whole insurance, but Lincoln has far more targeted life insurance products
  • Lincoln also offers indexed and variable annuities

Are you considering life insurance from Assurity vs. Lincoln? It may be hard to choose if you look at their financial and customer service ratings because both companies score high in both categories.

Both Assurity and Lincoln offer similar riders and both offer living benefits life insurance, plus policies that require no medical exam.

Read on to know more about the differences between Assurity vs. Lincoln life insurance. To see rates from top companies in your area, enter your ZIP code into our free quote tool above.

Assurity vs. Lincoln Life Insurance Rates Comparison

Here is a side-by-side comparison of Assurity and Lincoln’s average bi-annual and yearly insurance rates.

Assurity vs. Lincoln: Average Life Insurance Rates
CoverageAssurityLincolnNational Average
Term Life (six months)$182.96$192.26$155.47
Term Life (one year)$365.92$394.52$310.94
Whole Life (six months)$224.46Does not offer$190.73
Whole Life (one year)$448.92Does not offer$381.46
Universal Life (six months)$720.12$756.72$611.92
Universal Life (one year)$1,440.24$1,513.44$1,223.84
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Both companies have higher costs than the national average, but Assurity offers lower rates than Lincoln.

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What products do both Assurity and Lincoln life insurance offer?

Both Assurity and Lincoln offer term life and universal life insurance products, as well as fixed annuities. These companies also offer similar riders. Can you find affordable Assurity and Lincoln life insurance?

Each policy from Lincoln and Assurity is highly affordable with stable rates. Policyholders have a guaranteed death benefit, they may be able to forego medical exams in many cases, and they have the option to convert their policies to permanent life insurance policies.

The term life offerings for both companies have upper limits of $1 million in coverage. However, you may need to have a medical examination to enjoy that coverage, and you must be younger than 50 years old.

Lincoln has a plethora of permanent life insurance products, but Assurity and Lincoln give their customers flexibility with rates and features. Whether you choose a permanent policy with Assurity or Lincoln, you will have access to your policy’s cash value and living benefits.

Whether you have a fixed annuity with Lincoln or Assurity, your money will grow at a steady rate, and you can determine when you start to receive payments. Also, your beneficiaries can receive the accumulated value.

Additionally, Assurity and Lincoln offer disability, critical illness, and accident insurance. However, these features are available as employee benefits with Lincoln, and Assurity’s accident insurance mostly covers accidental death.

Life Insurance Policy Riders

Assurity and Lincoln both offer these types of riders:

  • Accelerated benefits: If you are diagnosed with a terminal illness and you are likely to die within six months, you can receive a portion of your death benefit.
  • Children’s level term insurance: You can include life insurance policies for all your children. This comes at no extra cost if you have a Lincoln term life insurance policy.
  • Waiver of premium: This waives regular payments for policyholders who become totally disabled. This is also available at no extra charge for Lincoln term life policyholders.

Does Assurity have anything to offer that you can’t find at Lincoln? Read on to find out.

What does Assurity offer that Lincoln does not?

Assurity offers whole life insurance. This policy offers permanent coverage, policyholders can pay one yearly, stable rate if they want, and they may be able to earn dividends on their policy.

Assurity is a mutual company, so its policyholders share some of the company’s profits. The company has shared $10.2 million in dividends with its policyholders so far.

Additionally, Assurity has an easier sign-up process. You will need to speak to an agent through an Assurity Life Insurance Phone number to know about specific rates and to sign up.

You need to do the same with Lincoln. However, the company also uses third-party advisors before approving new policyholders. 

What does Lincoln life insurance offer that Assurity does not?

Lincoln offers a lot more products and options than Assurity, as well as other insurance companies. Besides more permanent life insurance options, you can consider many annuity options and start a retirement plan through your workplace.

Term Life Insurance Products

Lincoln offers two Term Life products, TermAccel and LifeElements.

If you choose the TermAccel policy, you can skip the medical exam then apply online and set up a Lincoln Life Insurance login or apply by phone. The approval process may be as short as two business days.

Lincoln LifeElements Level Term life insurance offers a little bit more coverage. Also, a no medical exam life insurance application is available.

Permanent Life Insurance Products

Lincoln offers three basic types of permanent life insurance: Universal, Indexed Universal, and Variable Universal. Universal life protects you for the rest of your life, but you get the lowest level of cash value accumulation.

With Universal life insurance, your rates, the duration of the coverage, and the size of the death benefit are flexible. Also, you can choose between two types of Universal life products, Lincoln LifeGuarantee UL and Lincoln LifeGuarantee SUL (a survivorship policy for two people).

Indexed Universal gives you extended protection, and it adds increased cash value accumulation. You are protected from some market losses because you can invest in indexed accounts, meaning that the interest is tied to a market index.

Indexed Universal life products included Lincoln WealthAccumulate 2IUL and Lincoln WealthPreserve 2 IUL. If you live in New York, you can choose between WealthAdvantage IUL NY and access WealthPreserve 2 IUL NY.

Variable Universal gives you some flexibility regarding the duration of protection. You can also choose where to invest your payments, giving you the most potential for growth. Lincoln’s Variable Universal products include Lincoln VULONE, AssetEdge VUL, and Lincoln SVULONE.

Indexed and Variable Annuities

Unlike Assurity, Lincoln offers indexed and variable annuities.

With a fixed indexed annuity, you will have a fixed interest rate and your account is protected from downward swings in the stock market. You have your choice of seven indexed annuity products with Lincoln.

With variable annuities, you can maximize your ability to earn on investments. These plans allow you to pass on the annuity to your beneficiaries, and you can also use some of the funds to pay for medical expenses.

Retirement Plans

If you can access Lincoln through your workplace, you can take advantage of a retirement plan.

  • Call or use your Lincoln Life Insurance login to set up automatic deductions from your paycheck and specify how large or small those deductions are.
  • You can put a portion of your pre-tax earnings in an account or place your after-tax earnings in that account. If you choose the latter, your withdrawals may be tax-free.
  • Your employer may put in matching funds up to a certain amount.

Read on to learn more about these companies’ customer service rankings and their financials.

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Assurity vs. Lincoln Life Insurance Company Financial and Customer Service Rankings

You know about Assurity and Lincoln life insurance quotes, and you’ll be pleased to know both Assurity and Lincoln have excellent financial ratings.

Assurity Life Insurance has a total of $2.6 billion in assets. It has provided $136.8 million in benefits to its policyholders. For its financial strength, Assurity has received an A- (Excellent) rating from A.M. Best and an A+ rating from the Better Business Bureau.

Lincoln National Life Insurance Company can meet all its financial obligations and pay any claims. The insurance company has received an A+ (Superior) rating from A.M. Best, an A1 rating from Moody’s Investor Service, an A+ rating from Fitch, and an AA- from Standard & Poor’s.

For 2020, Assurity received a 0.19 Company Complaint Index Score from the National Association of Insurance Commissioners (NAIC).

Lincoln National Life Insurance Company received a 0.24 rating from the NAIC for individual life insurance. However, Lincoln received a 3/5 rating from J.D. Power.

Should you buy Assurity vs. Lincoln life insurance?

Assurity is an excellent choice if you would like to have a life insurance policy with relatively low rates and extra riders. You can also add extra forms of personal insurance and take advantage of dividends and annuities.

If you have a life insurance policy with Lincoln National Life Insurance Company, it makes sense to do much of your long-term retirement and financial planning under the Lincoln Financial Group umbrella.

You may also want to choose Lincoln if you want more retirement options, or you want to find a life insurance policy better tailored to your needs.

We hope that this information has helped you make your choice between Assurity vs. Lincoln life insurance. To look at quotes from top companies in your area, enter your ZIP code into our free quote tool below.

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