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Assurance Life Insurance Review | 2024

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Assurance Life Insurance Review | 2024

Assurance Life Insurance Overview

Assurance is an online insurance marketplace that lets you obtain an estimate of your policy costs and compare quotes from many providers. Most of its policies do not require a medical exam, making it a good option for quick coverage. You will have to fill out a short form to get an estimated quote or contact an agent for a more detailed quote.

However, Assurance does not provide much information regarding available coverage options and providers on its website. It also offers a limited number of policy types.

Assurance Pros and Cons

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 designated beneficiaries after you pass away. On your side of the agreement, you must pay your premiums on time to keep your policy in force. A life insurance policy offers significant financial security for your dependents in the event of your death, and they can use the funds however they see fit.

Term Life Insurance

Purchasing a term life insurance policy is ideal if you have temporary needs, as it provides coverage for a specified term. Assurance lets you choose between a 10, 15, 20, 25, 30, 35 or 40-year term. Your premiums remain fixed during the term and provide coverage of up to $20 million. Before you look for the best term life insurance companies, assess your needs or speak with a financial advisor to determine if this policy type is right for you.

Permanent Life Insurance

Those people looking for lifelong coverage can opt for permanent life insurance from Assurance. This type of policy also lets you 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 status.

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 until the end of your life and offers coverage of up to $50,000.

Cost of Assurance Life Insurance

The cost of an Assurance life insurance policy varies significantly based on factors like your chosen coverage amount, 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 must contact an agent for a detailed quote.

Insurance companies generally evaluate the following factors to assess your general risk level:

  • Age
  • Gender
  • Health status
  • Occupation and lifestyle
  • Location
  • Smoker or nonsmoker
  • Dangerous hobbies (such as skydiving)
  • Driving record

To help you understand how these factors affect costs, we gathered a quote for a 30-year-old man in good health with no smoking history. Assurance quoted $12 monthly for a 20-year term with $250,000 in coverage.

Assurance Customer Reviews

We analyzed customer reviews for Assurance and found most customers seemed satisfied with its service and praised its helpful agents. However, some customers complained about receiving spam calls from the company. We reached out to Assurance for comment on its negative customer reviews but did not receive a response.

Here are some examples of customer reviews of Assurance:

Very polite and knowledgeable gentleman who made me feel comfortable and did not put on the pressure tactic of having to buy now. I really appreciated this.”Eric via Trustpilot

“Agent was very helpful and understanding. She was able to get me a policy in my budget for end-of-life expenses and explained everything so that I understood exactly what I was getting. I am very relieved to know my family will not be burdened with final arrangement expenses at time of my passing.”Joaan via Trustpilot

“This company would not stop harassing me even after I called back and spoke to 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 expressed that the company had been harassing me, the operator was not sympathetic and said that I should have told them sooner.”Lydia via Trustpilot

“I was going to get insurance through this company but I have received so many calls and texts that I changed my mind. It makes me not trust a company that will give away my number so quickly.”Ashley via Trustpilot

Our Conclusion on Assurance Life Insurance

Assurance stands out with its quick and easy quote process, letting you compare multiple providers after filling out a short form. It enables you to begin 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 Assurance Life Insurance

Assurance is an online marketplace that can help you get personalized recommendations for finding a suitable life insurance policy. The company does not underwrite policies. It lets you compare quotes from multiple insurers and get the best deal.

Assurance was launched in 2016 and was later taken over 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 Assurance 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 combing through online policy information, speaking to agents via phone, reading customer reviews for insight into the typical customer experience, and reviewing third-party financial reliability scores.

After collecting this data, we scored each company in the following categories: coverage, riders, availability and ease of use and brand trust. To learn more, read our full life insurance methodology for reviewing and scoring Assurance.

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