Sagicor Life Insurance Review [2021]

The A-rated Sagicor Life Insurance Company offers a variety of whole and term life insurance options. Get Sagicor term life rates in 10, 15, and 20-year terms starting at $203.90/year or $17/month. Sagicor and it's subsidiaries offer life insurance policies in the US, Jamaica, and many other beautiful countries.

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites.

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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: Oct 28, 2020

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Sagicor Life Insurance Company Overview
Key InfoCompany Specifics
Year Founded1840
Current Executives CEO – Dodridge Miller
CFO – Andre Mousseau
Number of Employees1,119
Total Sales / Total Assets $1,900,000,000/$8,100,000,000
HQ Address Clarendon House
2 Church Street
Hamilton HM11
Bermuda
Phone Number 1-888-724-4267
Company Websitewww.sagicor.com
Premiums Written$869,000,000,000
A.M. Best RatingA-
Best ForFast coverage, smokers, no-exam
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Sagicor Life Insurance Company is not one of the biggest names in insurance but they offer more than one Sagicor life insurance policy. They have multiple policy options for whole and Sagicor term life insurance quotes.

Our Sagicor life insurance review will teach you the company basics and how they withstand the competition.

Before reading about the Sagicor life insurance company and learning about Sagicor products, check out competitor rates with our FREE life insurance quote tool above. Get started now.

Table of Contents

Sagicor Life Insurance Company Plans 

Sagicor has multiple types of term life insurance policies to choose from. Sagicor life insurance offers permanent life insurance and other life insurance riders, too. 

Sagicor Term Life Insurance

Term life policy options consist of Sage term periods of 10, 15, and 20-year terms. All of the policies offer an eApplication that will give you an automated underwriting with a decision in minutes.

The issuance of the policy may depend upon the answers to the health questions outlined in the application and use a Simplified Issue Underwriting Process.

The Sage Term policy plans offer no medical exam life insurance. Issue ages are from 18-65 years for face amounts of $50,000 to $500,000.

Average Sagicor 20-Year, $250,000 Term Life Policy Rates vs Competitor Rates
Companies20-Year, $250,000 Term Policy Rates
MassMutual$15.67
Sagicor$17.00
MetLife$29.70
Prudential$34.65
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As you can see in the above table, Sagicor term rates start at $203.90/year or $17/month, which makes them quite affordable but not as cheap as MassMutual, whose rates start at $188.04 or $15.67/month.

Priced above Sagicor are MetLife and Prudential. MetLife rates start at $356.40 or $29.70/month while Prudential rates start at $415.80 or $34.54/month.

The company also offers additional benefits and optional term life feature like the:

Accelerated Benefit

Included at no extra cost. The rider advances a portion of the death benefit proceeds if eligibility requirements are satisfied for a Terminal Condition or a Nursing Home Confinement. The minimum amount that may be accelerated is $25,000 and the maximum amount is the lesser of $300,000 or 50% of the death benefit.

A one-time administrative fee, the lesser of $250 or the maximum allowed by state law, will be deducted from the elected accelerated benefit amount.

Conversion Option

The policy may be converted, without evidence of insurance, to any permanent life insurance policy currently being issued by the company for conversion. Conversion may occur at any time before the policy anniversary following the insured’s 70th birthday.

Term Conversion credits are available in years 2 through 5 of the Sage Term policy and allow the owner to apply a percentage, up to 100%, of their prior 12 months’ premium towards the cost of any eligible permanent life insurance policy. Conversion credits only apply to a full policy conversion.

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Optional Sagicor Term Life Features

In addition to Sagicor life USA insurance quotes, Sagicor offers multiple riders. Riders are supplemental benefits that you can add to your traditional policy.

Accidental Death Benefit Rider

Available with an extra premium. For an additional charge, this rider provides an additional death benefit if death is the result of a covered accident. Issue Ages: 18 years to 60 years (terminates at age 70).

The minimum Accidental Death Benefit is $50,000 and the maximum Accidental Death Benefit is the lesser of the base face amount or $250,000. The rider charge is $1.32 per $1,000 annually

Children’s Term Rider

Available with an extra premium. This rider provides level term life insurance for all eligible children. At the end of the term period, the benefit may be converted to an eligible permanent policy for up to five times the original amount.

The children’s term rider is only available on the base policy and is not available on a spousal policy.

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Issue Ages are from 15-days through 19-years. Each child’s coverage will terminate on the anniversary date following the earliest of the child’s 25th birthday or the date of the child’s marriage.

The minimum face amount is $2,000 and the maximum face amount is $20,000. The rider charge is $5.76 per $1,000 annually.

Waiver of Premium Rider

Available with extra premium. This rider provides for the waiver of premiums due on the policy and any attached riders for as long as the insured meets the definition of totally disabled.

Issue Ages are from 18-years to 55-years and terminates at age 60. The rider charge is an annual rate per $1,000. Sagicor whole life insurance and Sagicor universal life insurance policies are also available.

The whole life insurance can provide up to $250,000 in coverage while the universal life insurance will max out at $50,000. Both are available up to age 85.

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Sagicor Life Insurance Company Ratings and Reviews

Sagicor life insurance company ratings are good but there aren’t very many. 

The AM Best Rating is A-  and Sagicor is rated A- (Excellent) by A.M. Best Company (4th best out of 16 possible ratings). This rating is based on Sagicor’s financial strength and ability to meet its ongoing obligations.

The BBB has rated Sagicor with an A+ rating and three Sagicor life insurance company reviews. All of the Sagicor reviews are life insurance complaints. 

You can see how the company interacts with the public by viewing the Sagicor LinkedIn page.

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How to Apply for Sagicor Life Insurance Quotes

To apply for insurance from Sagicor quotes, go to the Sagicor life insurance company website, or call the Sagicor life insurance phone number, which is 1-888-724-4267. To inquire about how much Sagicor life insurance payments are then you can do so on the company website.

Is there a Sagicor life insurance near me? You can get insurance from almost anywhere with Sagicor, Tampa to Sacramento. Sagicor agents are insurance agents who sell Sagicor life insurance exclusively.

How to Pay Your Sagicor Life Insurance Online

You can register to pay online by signing into the website with your Sagicor life insurance login.

This will allow you to see your Sagicor life insurance payment online and pay it as well.

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Sagicor Life Insurance Company Claims

Sagicor life insurance claim forms can be found online and the website has an entire Sagicor claims FAQ page.

About Sagicor Life Insurance

The Sagicor Life Insurance Company began in 1840. Sagicor Life Insurance Company (Sagicor) is a full-service life insurance company that helps clients make wise financial decisions today to ensure that they’re protected tomorrow. The company is licensed in 45 states plus the District of Columbia.

Sagicor is a wholly-owned subsidiary of Sagicor Financial Corporation, one of the oldest insurance groups in the Americas, with operations in 21 countries, mainly in the United States, Latin America, and the Caribbean.

Sagicor is committed to offering customers world-class service with integrity and value. The address for the company is 4343 N. Scottsdale Road, Suite 3, Scottsdale, AZ 85251.

Now that you have a pretty good idea about the Sagicor life insurance company, check out competitor rates with our FREE life insurance quote tool above. Get started now.

Frequently Asked Questions: Sagicor Life Insurance

Here are some frequently asked questions and their answers.

#1 – What is Sagi gold accumulator?

This is a policy the company offers. It is an insurance plan that is equity-linked and offered to anyone up to the age of 75. 

#2 – What is Sagicor Life Jamaica LTD?

This company is a subsidiary of Sagicor that is located in Jamaica. This is shorthand for Sagicor Life Jamaica Limited.

#3 – Is Sagicor a good company?

The ratings for Sagicor are good and indicate that the company is stable.

References:

  1. https://data.medicare.gov/data/nursing-home-compare
  2. https://www.cdc.gov/nchs/nvss/deaths.htm

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