Assurity Life Insurance Review

In this Assurity life insurance review, we will dive into the company’s strengths, ratings, history and the different policies and features offered. Our goal at Insurance and Estates is to help our clients find the company that best suits your specific needs, goals and objectives. With that in mind, let’s find out if Assurity is the right company for you.

About Assurity Life Insurance

Assurity is a marketing name for the mutual holding company Assurity Group, Inc. and its subsidiaries, Assurity Life Insurance Company and Assurity Life Insurance Company of New York.

Assurity has been in operation since 1890, providing over 130 years of service to policyholders. The company has built a reputation for financial stability, responsible governance, and community impact.

Assurity is a mutual insurance company. As a mutual organization, the company’s primary focus is on maximizing policyholder value, rather than stockholder value. Mutual insurance companies are owned by the policyholders, which share in the profits of the mutual organization through participating policies that receive annual dividend payments.

There are over 800 companies in the USA that offer life insurance and annuities. The sheer number of options can make finding the right company somewhat overwhelming. In an effort to help narrow down the field, we have created our list of the top 10 best whole life insurance companies, which includes Assurity.

Financial Ratings & Strength

Assurity maintains strong financial ratings from independent rating agencies, which reflect the company’s financial stability and ability to meet policyholder obligations.

Assurity’s current financial ratings:

• A.M. Best rating: A- (Excellent) with a stable outlook
• BBB rating: A+ (Accredited)

These ratings reflect Assurity’s very strong balance sheet, prudent investment and risk management practices, and consistent profitability. The company’s 709% risk-based capital ratio is a particularly strong indicator of financial stability, well above regulatory requirements.

Products Overview

Assurity Group offers products and services in five different areas:

Life Insurance

• Term Life Insurance
• Universal Life Insurance
• Whole Life Insurance
• Group Life Insurance (for employers and associations)

Annuities

Tax deferred investment such as Income Annuities and Lump Sum Annuities that help provide benefits in retirement.

Disability Income Insurance

Provides monthly payments to help replace lost income if you are completely disabled due to an illness or injury.

Critical Illness

Provides you with a lump sum payment if you are diagnosed with a qualifying critical illness.

Accidental Death

Provides a death benefit payout if death is due to an accident rather than natural causes.

Assurity Life Insurance Policies

Assurity Life Insurance Company offers both term life and permanent life insurance coverage, including both universal and whole life.

There are pros and cons to all types of life insurance. Which policy is best for you will depend on several factors. You can go to our article that discusses the difference between term life and whole life for more.

Term Life Insurance

Assurity offers term life insurance with a conversion option with the following key features:

• Available in 10, 15, 20, and 30-year terms
• Up to $1 million in coverage available through accelerated underwriting (no medical exam for qualified applicants)
• Available for ages 18-74
• Policies are renewable up to age 95
• Can be converted to permanent coverage without additional underwriting
• Built-in accelerated benefits rider for terminal illness
• Optional riders including Return of Premium, Critical Illness, and Disability Income

LifeScape Universal Life Insurance

Assurity’s Universal Life is cash value life insurance that offers flexible permanent coverage and premium payments. Key features include:

• Available for ages 18-85
• Flexible premium payments
• Adjustable death benefits
• Cash value accumulation that can be borrowed against
• The flexibility inherent in Universal Life is dependent on your cash value
• Premium and interest are credited to your policy monthly
• The policy’s interest rate is declared monthly and has a guaranteed interest rate of 3%

Assurity Whole Life Insurance

Assurity offers participating whole life insurance under its LifeScape brand with the following guarantees:

• Guaranteed death benefit
• Guaranteed cash accumulation
• Guaranteed level premiums
• Permanent coverage with dividend eligibility (though dividends are not guaranteed)
• Single premium whole life options also available

Group Life Insurance

Assurity offers group life insurance products for employers and associations. In August 2024, they launched a new group term life product that has seen rapid adoption and positive impact on overall group product sales.

Life Insurance Riders

Assurity permanent life policies come with different riders that add additional benefits to your coverage, including:

Accelerated Death Benefit Rider: You can receive an early portion of your death benefit if you are diagnosed with a qualifying terminal illness or permanent care in a nursing facility.

Value Enhancement Rider: The VER is a whole life insurance rider that allows you to add additional single or periodic premium payments to your policy to purchase paid up additions, increasing your death benefit and cash value.

Protected Insurability Benefit Rider: This rider is excellent if you are young or if you are considering life insurance for your children. It provides you the option of adding additional life insurance with no evidence of insurability required.

Monthly Disability Income or Accident Only Disability Income Rider: Provides a monthly benefit from $300 to $3000 if you become permanently disabled prior to age 65. The benefit period lasts 2 years.

Critical Illness Benefit Rider: Covering qualifying critical illnesses such as heart attack, stroke and cancer, this optional rider will pay you a lump sum of $20,000 up to $150,000 if you are diagnosed with a qualifying major illness. Benefits do not decrease the death benefit.

Benefits of Cash Value Life Insurance

Tax free life insurance policy loans

You can use your cash value as collateral and take out a life insurance loan from the carrier’s general fund income tax free.

Tax Free Withdrawals

Unlike 401K withdrawals that come with a bunch of fees, penalties and exclusions, cash value in permanent life insurance can be withdrawn up to your basis in the policy tax free.

Tax deferred cash value growth

Taxes on cash value life insurance under IRC 7702 are deferred. And if you practice proper policy management, you may never need to pay taxes on the cash value growth.

Tax free death benefit

Your policy’s beneficiary receives the death benefit income tax free. Death benefit proceeds may be subject to estate tax or your state’s inheritance tax. If you have a large estate or you own a business, proper asset protection planning is prudent.

Recent Innovations & Digital Enhancements

Assurity has made significant investments in digital capabilities and product innovations in recent years:

Record Worksite Sales

• 2024 saw a 27% increase in worksite sales over 2023
• New territories added and expanded eligibility for New York residents (for non-NY employer groups)

New Group Term Life Product

• Launched in August 2024
• Rapid adoption and positive impact on overall group product sales

Digital Claims & Service

• Enhanced online claims access and tracking through MyAssurity.com
• 24/7 claims status for producers via AssureLINK
• Streamlined employer e-consent for faster, more flexible enrollments

Production Reporting

• Upgraded dashboards for producers and employers
• Further enhancements planned for 2025, including a new Agent Center
• Custom Spanish-language enrollment resources

Customer Service

Assurity is recognized for its engaged workforce, ranking in the top 3 of Lincoln’s Best Places to Work, with low employee turnover and strong sustainability efforts as a Certified B Corporation. The company emphasizes digital transformation while maintaining personal, human service.

Assurity Life Insurance Review Conclusion

Assurity stands out in 2025 as a financially stable, policyholder-focused mutual insurer with a diverse product lineup, strong digital capabilities, and a reputation for responsible governance. The company’s recent innovations in worksite and group products, as well as ongoing digital enhancements, position Assurity as a modern, accessible choice for life, disability, and supplemental insurance needs.

With an A- (Excellent) rating from A.M. Best, strong financial indicators, and a mutual company structure that prioritizes policyholder value, Assurity offers the security and stability essential for long-term insurance products. The company’s commitment to dividend payments for participating policies further enhances the value proposition for policyholders.

Assurity’s comprehensive product portfolio—spanning term life, whole life, universal life, disability income, critical illness, and annuities—provides solutions for a wide range of individual, family, and business needs. Their accelerated underwriting options (up to $1 million without a medical exam for qualified applicants) and robust rider selection allow for customized coverage tailored to specific financial goals.

The company’s recent digital enhancements, including improved online claims access and policy management, reflect its commitment to modern, convenient service while maintaining the personal touch that has characterized Assurity throughout its 130+ year history.

Assurity has been around for quite some time and offers some great products. All in all, you can’t go wrong if you choose Assurity as your life insurance provider. However, with so many options available, you will want to compare Assurity to the competition to make sure you are getting the best policy for your specific need.

Interested in Assurity? We are contracted with Assurity as well as many other top cash value companies in the marketplace. Give us a call today for a free consultation and illustration with an advanced markets professional.