Insurance Overview of life insurance
Assurance is an online insurance marketplace that allows you to get an estimate of the cost of your policy and compare quotes from many providers. Most of its policies do not require a medical examination, making it a good option for quick coverage. You will need to fill out a short form to receive an approximate quote or contact an agent for a more detailed quote.
However, Assurance does not provide much information about available coverage options and providers on its website. It also offers a limited number of policy types.
Pros and cons of assurance
Types of life insurance offered
Life insurance is an agreement between you and an insurance company in which the company will pay a death benefit to your named beneficiaries after you die. On your part of the agreement, you must pay your premiums on time to keep your policy in force. A life insurance policy offers significant financial security to your dependents in the event of your death, and they can use the funds as they see fit.
Term Life Insurance
Buying a term life insurance policy is ideal if you have temporary needs as it provides coverage for a fixed term. The insurance allows you to choose between a 10, 15, 20, 25, 30, 35 or 40 year term. Your premiums remain fixed during the term and provide coverage up to $20 million. Before looking for the best life insurance companies, assess your needs or talk to a financial advisor to determine if this type of policy is right for you.
Permanent life insurance
Those people looking for lifetime coverage can opt for permanent life insurance from Assurance. This type of policy also allows you to build cash value over time as long as you pay your premiums. The insurer provides coverage of up to $1 million, which does not decrease regardless of your health condition.
Final expense insurance
Assurance also provides final expense insurance if you want a policy to cover your funeral expenses and other financial obligations. It has fixed premiums, will last for the rest of your life and offers coverage up to $50,000.
Insurance costs Life insurance
The cost of an Assurance life insurance policy varies widely depending on factors such as the amount of coverage you choose, type of policy and personal information. You can fill out the form on the company’s website to get an estimate of your monthly costs. However, you should contact an agent for a detailed quote.
Insurance companies typically evaluate the following factors to assess your overall risk level:
- Age
- gender
- Health status
- Profession and lifestyle
- Location
- Smoker or non-smoker
- Dangerous hobbies (like skydiving)
- Driving record
To help you understand how these factors affect costs, we’ve put together a quote for a 30-year-old male in good health with no history of smoking. Quoted assurance $12 monthly for a 20-year term with $250,000 coverage.
Customer reviews for reassurance
We analyzed customer reviews of Assurance and found that most customers seemed satisfied with the service and praised its helpful agents. However, some customers have complained of receiving spam calls from the company. We have reached out to Assurance for comment on the negative customer feedback, but have not heard back.
Here are some examples of Assurance customer reviews:
“Very polite and knowledgeable gentleman who made me feel comfortable and didn’t use buy now pressure tactics. I really appreciate that.” — Eric via Trustpilot
“The agent was very helpful and understanding. She was able to get me a policy in my end of life budget and explained everything to me so I understood exactly what I was getting. I am very relieved to know that my family will not be burdened with any final arrangement costs during my departure.’ — Joan via Trustpilot
“This company did not stop harassing me even after I called and spoke to the operators telling them to leave me alone. They filled up my voicemail more than once and called me over 30 times at least once a day for weeks. When I said the company was harassing me, the operator was unsympathetic and said I should have told them sooner.— Lydia via Trustpilot
“I was going to get insurance through this company, but I got so many calls and messages that I changed my mind. This makes me distrust a company that would give away my number so quickly.— Ashley via Trustpilot
Our conclusion on life insurance
Assurance stands out with its quick and easy quote process that allows you to compare multiple providers after filling out a short form. It allows you to start coverage quickly in most cases as most policies do not require a medical exam. However, since it provides limited information on its website, we suggest you explore other providers if you want more options.
Frequently asked questions about life insurance
Assurance is an online marketplace that can help you get personalized recommendations for finding the right life insurance policy. The company does not take out policies. It allows you to compare quotes from multiple insurers and get the best deal.
Assurance was launched in 2016 and was later acquired by Prudential. The company is now a wholly owned subsidiary of Prudential Financial.
The cost of a life insurance policy depends on several factors related to your personal situation and goals. You can get an estimate of the cost of your insurance policy by filling out the quote form on its website.
Methodology: Our system for ranking the best life insurance companies
Our goal at the MarketWatch Guides team is to provide you with comprehensive, unbiased recommendations you can trust. To rate and rank life insurance companies, we created a thorough methodology and analyzed each company by reviewing online policy information, speaking with agents on the phone, reading customer reviews for insight into the typical customer experience, and reviewing third-party financial soundness ratings.
After collecting this data, we rated each company in the following categories: coverage, riders, availability and ease of use, and brand trust. To learn more, read our full life insurance policy review and evaluation methodology.
AM Best disclaimer