Sagicor Life Insurance Company continues to innovate in 2025 with their proprietary Accelewriting® technology offering instant underwriting decisions, A- (Excellent) AM Best rating, and 184+ years of proven stability. Discover why this historic insurer excels in fast no-exam life insurance for middle-market consumers seeking immediate coverage decisions.
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Comprehensive Review of Sagicor
Sagicor Life Insurance Company stands as the second oldest insurer in the Americas, established in 1840 in Barbados as The Barbados Mutual Life Assurance Society. With over 184 years of continuous operation, this company has evolved from a local Caribbean insurer into a diversified North American financial services provider now operating across 19 countries.
Today, Sagicor operates as a wholly-owned subsidiary of Sagicor Financial Company Ltd. (TSX: SFC), which went public on the Toronto Stock Exchange in 2019. In the United States, Sagicor Life Insurance Company is licensed in 45 states plus the District of Columbia, serving a growing customer base with innovative underwriting technology and competitive life insurance products.
Quick Facts: Sagicor Life Insurance Company
| Metric | Details |
|---|---|
| Founded | 1840 (184+ years) |
| AM Best Rating | A- (Excellent) – 4th best rating |
| Licensed States | 45 states + DC |
| Total Assets | $22.8 billion |
| Unique Technology | Accelewriting® – instant underwriting |
| Best For | Fast no-exam life insurance |
| Coverage Limits | $25,000 to $1,000,000+ |
| Age Range | 18-75 years old |
The broader Sagicor organization employs over 5,000 team members globally, with US operations specifically employing approximately 2,155 people. The company serves over 700,000 policyholders in Canada through its recently acquired ivari subsidiary and maintains over 60,000 policyholders in its US operations.
About Sagicor Life Insurance
2025 Performance Highlights
Sagicor delivered robust financial results in 2024, positioning the company strongly for 2025:
- Total Assets: US$22.8 billion (representing 160%+ growth since TSX listing)
- Net Income to Shareholders: US$97.5 million
- Core Earnings to Shareholders: US$90.9 million (84% increase year-over-year)
- Book Value Per Share: US$7.08
- Group-LICAT Ratio: 139% (strong capitalization)
- Quarterly Dividend: US$0.0675 per share (12.5% increase for 2025)
Leadership Excellence
Andre Mousseau serves as President and CEO of both Sagicor Life Insurance Company and the parent Sagicor Financial Company Ltd., having been appointed CEO in May 2022. Mousseau brings over 20 years of financial services experience, with an undergraduate degree in Economics from McGill University and an MBA from the Richard Ivey School of Business.
Under Mousseau’s leadership, Sagicor has demonstrated strong governance with 34% female directors on the board and 54% female executives in leadership positions, reflecting the company’s commitment to diverse leadership and modern corporate governance practices.
Revolutionary Accelewriting® Technology
Sagicor’s proprietary Accelewriting® process represents a significant competitive advantage in the no exam life insurance industry, offering what few carriers can match: instant underwriting decisions.
How Accelewriting® Works
- Automated underwriting system providing decisions within minutes
- No medical exam required for qualified applicants
- No telephone interview or Attending Physician Statements needed
- Age ranges: 18-65 years old
- Coverage amounts: $25,000 to $400,000 (varies by product)
- No bodily fluids or extensive medical documentation required
This technology allows Sagicor to compete directly with industry giants by offering something most cannot: same-day coverage decisions for qualified applicants. While traditional underwriting can take weeks or months, Accelewriting® delivers answers in minutes.
Sagicor Life Insurance Products
Sagicor offers a comprehensive range of life insurance products designed to meet diverse financial planning needs, from basic term coverage to sophisticated universal life policies.
Term Life Insurance
Sagicor’s term life insurance provides substantial death benefit protection at affordable initial costs:
- Term Lengths: 10, 15, and 20-year options
- Coverage Amounts: $50,000 to $1,000,000+
- Conversion Privileges: Convert to permanent coverage before term expires
- Competitive Rates: Especially strong for no-exam applicants
Whole Life Insurance
Sagicor offers non-participating whole life insurance with guaranteed benefits:
- Fixed premiums for life
- Guaranteed cash value accumulation
- Level death benefit protection
- Policy loan provisions available
Important Note: Sagicor’s whole life products are non-participating, meaning they do not pay dividends. This makes them unsuitable for Infinite Banking Concept strategies that require dividend-paying whole life insurance.
Universal Life Insurance
Sagicor’s universal life portfolio includes innovative options:
No Lapse Universal Life (Sage NLUL)
- Lifetime death benefit protection
- Lower cost than whole life
- Guaranteed no-lapse provisions
WealthCare Indexed Universal Life
- Interest crediting strategies linked to iShares ETFs from BlackRock
- S&P 500 Index options with cap and participation rate strategies
- Protection from market losses with guaranteed minimum rates
- Flexible premium payments for changing financial situations
Annuity Products
Sagicor also offers competitive fixed annuity products:
- Multi-Year Guaranteed Annuities (MYGA)
- Single Premium Immediate Annuities
- Current MYGA rates: 4.95% to 5.40%
Financial Strength & Credit Ratings
Sagicor maintains strong financial ratings across all major rating agencies, demonstrating the company’s financial stability and claims-paying ability:
| Rating Agency | Rating | Outlook |
|---|---|---|
| AM Best | A- (Excellent) | Stable |
| S&P Global Ratings | BBB | Stable |
| DBRS Morningstar | BBB (low) | Stable |
| Fitch Ratings | BBB- | Stable |
These ratings reflect the company’s enhanced financial profile following strategic acquisitions and improved geographic diversification. The A- (Excellent) AM Best rating places Sagicor in the 4th best category out of 16 possible ratings, indicating superior financial strength.
Key Financial Metrics (2024)
- Assets Under Management: US$22.9 billion
- Core Earnings Per Share: 64.9¢ (87% increase year-over-year)
- Group-LICAT Ratio: 139% (strong capitalization exceeding regulatory requirements)
- Financial Leverage Ratio: 27.3%
- Capital Returns to Shareholders: Record $47.1 million in 2024
Underwriting Process & Application Experience
Sagicor’s underwriting process represents one of the most streamlined experiences in the life insurance industry, thanks to their proprietary Accelewriting® technology.
Traditional vs. Accelewriting® Process
| Feature | Traditional Underwriting | Sagicor Accelewriting® |
|---|---|---|
| Decision Time | 2-8 weeks | Minutes to hours |
| Medical Exam | Usually required | Not required |
| Phone Interview | Often required | Not required |
| Medical Records | Frequently requested | Rarely needed |
| Coverage Limits | Up to $50 million+ | Up to $400,000 |
Application Parameters
- Minimum Face Amount: $25,000-$50,000 (product dependent)
- Maximum Face Amount: $1,000,000+ (fully underwritten)
- Issue Ages: Up to 75 for some products
- Risk Classes: Preferred Plus, Preferred, Standard Plus, Standard
Riders & Additional Benefits
Included Benefits (No Additional Cost)
Accelerated Death Benefit Rider
Sagicor automatically includes comprehensive accelerated benefit coverage:
- Terminal Condition Benefit: Payment if death expected within 12 months
- Chronic Illness Benefit: Coverage for inability to perform daily activities
- Nursing Home Confinement: Monthly payments during extended care
- Maximum Benefit: Lesser of $250,000-$400,000 or percentage of death benefit
This rider provides valuable living benefits, allowing policyholders to access their death benefit early when facing qualifying health conditions. Unlike many carriers that charge extra for this coverage, Sagicor includes it automatically.
Optional Riders (Additional Premium Required)
- Accidental Death Benefit Rider – Additional death benefit for accidental deaths
- Disability Waiver of Premium – Premiums waived during qualifying disability
- Guaranteed Insurability Options – Purchase additional coverage without evidence of insurability
- Child Term Insurance Riders – Coverage for dependent children
- Paid-Up Additions Riders – Available on participating policies (limited availability)
Customer Experience & Service Quality
Satisfaction Metrics
NAIC Complaint Index: Sagicor demonstrates above-average customer satisfaction with complaint indices of 0.04 for all policies and 0.0 for individual annuities, indicating fewer complaints than industry averages.
Digital Customer Experience
Sagicor Go Mobile App provides comprehensive policy management:
- Policy information access and management
- Premium payment processing with automatic payment options
- Contact detail updates
- Biometric security features
- Location finder for Sagicor offices
Areas for Improvement
While Sagicor generally receives positive customer feedback, some areas show room for improvement:
- Claims Processing: Some customers report occasional delays in claims processing
- Customer Service Response: Mixed reviews on customer service responsiveness
- Online Capabilities: Limited digital quoting compared to larger carriers
When to Choose Sagicor
- Speed is Priority: Need coverage decisions in minutes, not weeks
- No-Exam Preference: Want to avoid medical exams and lengthy underwriting
- Competitive Rates: Seeking affordable term life or universal life coverage
- Technology Focus: Prefer modern, streamlined application processes
Sagicor Life Insurance Review Conclusion
Sagicor Life Insurance Company represents a financially stable, historically proven insurer with specific strengths that make it an excellent choice for certain life insurance needs. With 184+ years of operating history, an A- (Excellent) AM Best rating, and innovative Accelewriting® technology, Sagicor offers compelling value for clients prioritizing speed, competitive rates, and financial stability.
Key Takeaways
Sagicor Excels When You Need:
- Fast Underwriting: Instant decisions vs. weeks of waiting
- No-Exam Coverage: Avoid medical exams and extensive health requirements
- Competitive Rates: Strong pricing for term life and universal life products
- Financial Stability: 184+ year history with strong credit ratings
- Modern Technology: Streamlined application and policy management
Get Your Personalized Life Insurance Strategy
Before deciding on Sagicor or any other insurance provider, get a customized analysis from our expert team. We’ll help you understand if this is truly the right fit for your specific situation.
- âś“ Compare illustrations from multiple top-rated carriers
- âś“ Discover which products best match your goals
- âś“ Learn about fast underwriting vs. traditional processes
- âś“ Get answers to your specific questions and concerns
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Frequently Asked Questions
Is Sagicor Life Insurance Company financially strong?
Yes, Sagicor maintains an A- (Excellent) rating from AM Best and has operated continuously for 184+ years. The company has $22.8 billion in total assets and maintains strong capitalization ratios.
How fast can I get approved for Sagicor life insurance?
With Sagicor’s Accelewriting® technology, qualified applicants can receive approval decisions within minutes to hours, compared to weeks with traditional underwriting processes.
Does Sagicor require medical exams?
No, Sagicor’s Accelewriting® process typically does not require medical exams for coverage amounts up to $400,000 and ages 18-65, depending on the specific product and health questions.
Is Sagicor good for Infinite Banking?
No, Sagicor is not suitable for Infinite Banking Concept strategies because they do not offer participating whole life insurance policies that pay dividends. Consider mutual companies like Penn Mutual or Northwestern Mutual for IBC.
What states is Sagicor licensed in?
Sagicor Life Insurance Company is licensed in 45 states plus the District of Columbia.
How does Sagicor compare to other life insurance companies?
Sagicor’s main competitive advantage is speed through Accelewriting® technology. While not as large as companies like Northwestern Mutual or Penn Mutual, Sagicor excels in fast, no-exam underwriting for middle-market consumers.
