Sagicor Life Insurance Company

UPDATED: Mar 12, 2020

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Company Description

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. We are licensed in 45 states plus the District of Columbia. 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.

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.

Company Contacts

4343 N. Scottsdale Road, Suite 3
Scottsdale, AZ 85251

888-724-4267

Sagicor Life Website

Company Info

Year Founded:  1840

AM Best Rating:  A- (as of 2016)

S&P Rating:  Not Rated

Company Spotlight:  Sagicor Life Insurance Company

Company Goods

Policy Info

Included Term Life Features

  • 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: 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.

Optional Term Life Features

  • Accidental Death Benefit Rider:  Available with 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). Minimum Accidental Death Benefit: $50,000. Maximum Accidental Death Benefit: The lesser of the base face amount or $250,000. Rider Charge: $1.32 per $1,000 annually
  • Children’s Term Rider: Available with 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. Issue Ages: 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). Minimum Face Amount: $2,000. Maximum Face Amount: $20,000. Rider Charge: $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: 18 years to 55 years (terminates at age 60). Rider Charge: Annual rate per $1,000.

Legal Info

A two-year contestable and suicide provision applies.

Policy Forms: ICC101000/1000, ICC106001/6001, ICC106002/6002, ICC106003/6003, ICC106005/6005, ICC106014/6014, ICC106030/6030, ICC141015 and ICC146062

Company Products

Sage Term 10: Simplified Issue Underwriting Process

  • Issue ages 18-65 years for face amounts of $50,000 to $500,000
  • No Medical exams, bodily fluids or attending physician’s statement. Issuance of the policy may depend upon the answers to the health questions set forth in the application.
  • eApplication: Automated underwriting with a decision in minutes.

Sage Term 15: Simplified Issue Underwriting Process

  • Issue ages 18-65 years for face amounts of $50,000 to $500,000
  • No Medical exams, bodily fluids or attending physician’s statement. Issuance of the policy may depend upon the answers to the health questions set forth in the application.
  • eApplication: Automated underwriting with a decision in minutes

Sage Term 20: Simplified Issue Underwriting Process

  • Issue ages 18-65 years for face amounts of $50,000 to $500,000
  • No Medical exams, bodily fluids or attending physician’s statement. Issuance of the policy may depend upon the answers to the health questions set forth in the application.
  • eApplication: Automated underwriting with a decision in minutes
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