Is Assurity a Good Insurance Company?
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At Diversified Insurance Brokers, we help clients evaluate insurance companies for financial strength, long-term reliability, and product value. Assurity Life Insurance Company, with roots dating back over 130 years, operates as a mutual organization—meaning it is owned by its policyholders, not stockholders. This structure allows the company to focus on customer value over shareholder profits.
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Who Is Assurity?
Assurity is known for its stability, community commitment, and policyholder-focused approach. Formed through the merger of three long-standing mutual insurers, the company offers a wide variety of products, including term life, whole life, universal life, critical illness insurance, disability income coverage, and annuities.
Financial Strength & Ratings
- Rated A- (Excellent) by A.M. Best
- Strong surplus reserves and risk-based capital well above required levels
- Privately held mutual company structure, allowing long-term planning without shareholder pressure
What Assurity Offers
Assurity provides flexible life insurance options to fit different needs and budgets. This includes:
- Term Life Insurance – Affordable protection for a set period
- Whole Life Insurance – Permanent coverage with cash value accumulation
- Universal Life Insurance – Flexible premiums and coverage amounts
- No-Exam Life Insurance – Faster approvals for qualified applicants
- Disability Income Insurance – Protects income if you can’t work due to illness or injury
- Critical Illness Insurance – Lump-sum benefit for major health events
Strengths
- Mutual company focused on policyholder benefits
- Broad product lineup for life, disability, and supplemental insurance
- Strong customer satisfaction and claims service reputation
- Long history of stability and ethical business practices
Considerations
- May not have the same national name recognition as some larger insurers
- Product availability and features may vary by state
Bottom Line
Assurity is a financially solid, policyholder-focused company with a full range of insurance solutions. At Diversified Insurance Brokers, we can help you compare Assurity with other carriers to ensure you choose the right fit for your needs and budget.
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FAQs: Is Assurity a Good Insurance Company?
How financially strong is Assurity?
Assurity is rated A- (Excellent) by A.M. Best, with a stable outlook. It has a long history (roots going back to 1890) and operates as a mutual insurance company, which can align its interests more closely with policyholders.
What kinds of insurance products does Assurity offer?
They offer a broad portfolio including term life, whole life, universal life, critical illness, disability income insurance, accidental death, and other voluntary benefit products.
Is Assurity available nationwide?
Yes, Assurity is licensed in all U.S. states and DC except for New York (which is served by a separate Assurity entity).
What does being a mutual company mean for policyholders?
As a mutual company, Assurity is owned by its policyholders rather than shareholders. This often means more focus on policyholder benefit and less pressure from investors.
How is Assurity’s customer service and complaint history?
Feedback is mixed. Some customers report issues with delays in claims or communication via review platforms. But many others mention good value and helpful service, especially for their voluntary benefit and life insurance products.
Are there any drawbacks with Assurity?
Some drawbacks include potentially limited riders or features compared to very large insurers, complaints around responsiveness in certain cases, and that some policy types may have more restrictive underwriting or premium increases with age.
