Buying life Insurance is already not the easiest task to do but it doesn’t become easier with all the options out there. Don’t worry because we are here to help you and to make life insurance simple! Accordia Life Insurance Company is one of the many life insurance companies in the marketplace. With so many choices it can be harder to know which company is going to be the best. Our mission is to make life insurance simple and to do that we make our reviews 100% unbiased and purely filled with information. With that being said, if you are looking for some solid information about Accordia Life Insurance Company then you have come to the right place. In this article, we will be discussing how Accordia Life Insurance is Global Atlantic Financial Group Limited, as promised our review of them, and then we will discuss their products with highlights. The following are some key points from this article;

1. If you looked up Accordia Life Insurance Company you probably realized that there is no longer any sign of their existence. Don’t worry they are still around, they are just part of a larger company now called Global Atlantic Financial Group Limited.
2. Accordia Life has seen their own success and has grown to nearly $8 billion in assets but with their parent company, they have more than $45 billion in total.
3. According to both A.M Best Company and Standard & Poor’s, they have rated the company an “A-“.
4. The company offers three life insurance product, term life, universal life, and index universal life insurance.
5. There are a couple of pros that coincide with Accordia and the first one is their rating, they have a pretty amazing rating which we talked about how important it is to have a good rating. They also have a good variety of life insurance products which is perfect for those who are trying to make some investments with their life insurance or for those who only need life insurance for a short term need.
6. The first con is that they haven’t been on the market long enough which is not a deal breaker but it is important to keep in mind that there are other companies who have been around for over 150 years and Accordia Life is literally a baby compared to those companies. Another con is that they don’t offer a traditional whole life insurance policy for those who do not seek to make investments or simply want to have a regular permanent life policy. Lastly, they are only one company among many others. 

About Accordia Life Insurance Company

If you looked up Accordia Life Insurance Company you probably realized that there is no longer any sign of their existence. Don’t worry they are still around, they are just part of a larger company now called Global Atlantic Financial Group Limited. Despite their new name, they do offer life insurance products under the brand, Accordia Life.

Global Atlantic Financial Group Limited has been around since 2004 but at the time their name was Goldman Sachs Reinsurance Group (GSRG). The following year they acquired Allmerica Life and renamed the company to Commonwealth Life & Annuity. In 2006-2008 the company grew a robust reinsurance platform through Commonwealth. The following year the market hit hard and the company offered their insurers risk and capital management solutions to help manage the financial crisis. In 2011, the company began selling individual annuities through Commonwealth and in 2013 the company separated from Goldman Sachs and incorporated as Global Atlantic Financial Group Limited, that same year they acquired Aviva USA Life Insurance business from Athene and later relaunched it as Accordia Life. Last year they unified their approach to the marketplace with all product and services branded Global Atlantic.

Accordia Life Insurance Company Review 2017

If you haven’t seen much of Accordia Life Insurance Company or Global Atlantic Financial Group that’s because they are new to the marketplace. Like we mentioned before they combined companies, but the parent company, Global Atlantic is now greater than $40 billion in total assets. Accordia Life has seen their own success and has grown to nearly $8 billion in assets but with their parent company, they have more than $45 billion in total. This is important to look at because you want to make sure the company you are thinking about working with has enough in the bank to actually pay out your policy when your family needs it. The company offers three life insurance product, term life, universal life, and index universal life insurance. According to both A.M Best Company and Standard & Poor’s, they have rated the company an “A-“.

Why you should read a company’s rating

You should always want to do your very best to find out as much as you can about the possible company you are going to be working with for your own benefit. Obviously, you care because you are here reading this review, but you shouldn’t overlook a company’s rating. A company’s rating will give you an idea of how financially stable the company is. The company you are planning on working with should have a high rating because like we said earlier you want to make sure you are going to be paying for something that will pay out when you need to. Not only that but it gives you the reassurance you need about the company, the last thing you want to happen is to pay for something and then the company disappears.

You would be surprised how many times this has happened to people where the company just disappears and you don’t want your policy and money you have been paying to disappear, that would suck! If a company has a bad rating it basically means they are not financially stable and if something in their environment were to happen then they would be vulnerable to the change and wouldn’t know what to do other then filing bankruptcy and disappear. The rating agencies who make these ratings do this because they believe it is your right as a consumer to know how financially stable a company is. So take a minute and read a company’s rating because you have the right to know what you are going to be paying for.

Accordia Life Insurance Company Products

Accordia Life offers two major life insurance products that can really appeal to anyone, permanent life, and term life insurance.

Term Life Insurance

• Term life is a form of temporary life insurance which provides coverage for only a short and specified period of time.
• Since a term policy consists of being covered for a specified period of time you have the choice of a 10, 20, or 30-year policy.
• These policies offer a guaranteed level premium which means that your premium will never change throughout the life of your policy.
• Term life insurance is the most affordable life insurance in the market.
• This life insurance type basically gives you a specified death benefit as long as you pay monthly premiums.
• There is no cash value growth.
• The cost per thousand is the cheapest when compared to other types of coverage.
• You can choose any range of duration from annually renewable up to 30-years in length.
• Coverage can be as low as $50,000.
• All term life products are convertible to permanent policies which means that when your term policy expires you can convert from a term policy to a permanent policy without having to prove good health or undergo a medical exam.
• The riders available are; Accidental Death Rider, Children’s Insurance Rider, and Waiver of Premium Rider.

Universal Life Insurance

• Universal life is a form of permanent life insurance that provides coverage for your entire life while providing flexibility for your ever so changing life.
• You can choose how much and when to pay your premiums, hence the flexibility.
• There are flexible payout options to beneficiaries.
• This product builds cash value that can be accessible for lifetime needs.
• Your death benefit is income tax-free.
• There is a guaranteed minimum interest rate.

Index Universal Life Insurance

• Index Universal life is another form of permanent life insurance that provides coverage for your entire life, offers flexibility with your policy, and investment options.
• You can have flexible coverage throughout your life.
• You get protection from negative market returns.
• There are three types of index universal policies, Lifetime Foundation, Lifetime Provider, and Lifetime Builder.
• Lifetime Foundation– uses a Minimum Premium Test to ensure your guarantees stay in force. Even if your policy’s cash value is zero, your coverage will continue as long as the total amount of premiums paid have met the minimum required premium test.
• Lifetime Provider- this policy can provide an affordable approach for protecting what is important to you.
• Lifetime Builder- this policy is a flexible premium life insurance policy offering death benefits and a choice of interest crediting strategies.
• This product has a guaranteed minimum interest rate and a fixed rate crediting option.
• Your death benefit and cash value are tax-deferred.
• There is greater growth potential over the life of the policy than a traditional universal life insurance policy.

Wellness for Life Rider

There is a pretty interesting rider that Accordia Life offers and it’s called the Wellness for Life Rider. It basically means that if you opt to visit a doctor every year and your medical exams come up clean and healthy then you will be given a discount if you buy this rider. Accordia Life rewards those who are healthy and live a healthy life. The Wellness for Life program even rewards you for staying fit which is pretty fantastic!

Pros of Accordia Life Insurance Company

There are a couple of pros that coincide with Accordia and the first one is their rating, they have a pretty amazing rating which we talked about how important it is to have a good rating. They also have a good variety of life insurance products which is perfect for those who are trying to make some investments with their life insurance or for those who only need life insurance for a short term need.

Cons of Accordia Life Insurance Company

Just like there are a couple of pros of Accordia there a couple of cons as well. The first con is that they haven’t been on the market long enough which is not a deal breaker but it is important to keep in mind that there are other companies who have been around for over 150 years and Accordia Life is literally a baby compared to those companies. Another con is that they don’t offer a traditional whole life insurance policy for those who do not seek to make investments or simply want to have a regular permanent life policy. Lastly, they are only one company among many others.

Work with us!

In conclusion, whether or not Accordia is the best life insurance company for you, you should still shop around for quotes. This way you can assure that you are getting the best rate possible. If you have 30 seconds go below this article and fill out our super simple and quick quote engine so that you can see for yourself what other top rated companies have to offer. not only will you be able to see some quotes that companies want to offer you but you will also be able to compare those quotes with other top rated companies! Or you can take advantage of our FREE service, yes we said FREE because it is as FREE as FREE comes! Working with us means that we will shop for quotes on your behalf and not give up until we find you the best life insurance company who reflect your specific needs, health, and lifestyle. Not only will we work until our fingers fall off trying to find you the best quote but we will also do the whole application process so you can cross that one off your to-do list. We are here to make life insurance simple, let us start by making your life simpler, give us a call today so that you can spend more time with those who matter the most, your family.

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