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Overview: Sagicor is a full-service life insurance company, offering term, whole life, and universal life through SagicorNow Accelewriting no medical exam underwriting for qualified applicants. For those who aren’t in the best health, or who want ultra-competitive rates if you’re super healthy, Sagicor Life offers the same products fully underwritten. Learn more about Sagicor Life Insurance Company in this review to determine if it could be the right fit for your life insurance needs.
Here’s What You Need to Know About SAgicor Life Insurance Review
Sagicor Life Insurance got its start in 1840 as The Barbados Mutual Life Assurance Society, went through numerous acquisitions, before becoming what is now known as Sagicor Life Insurance Company. It offers term, whole, and universal life insurance products, with some applications qualifying for no medical exam coverage. The company's name is a combination of wise and heart, with “Sage” meaning wise and “cor” meaning heart. Sagicor’s tagline is “wise financial thinking for life.”
How is SAgicor Life insurance Company Different?
Sagicor Life Insurance Company has been offering life insurance products for over a century. It has a full line of life insurance offerings, including juvenile whole and universal life insurance. Many of the policies can be purchased without a medical exam using an accelerated underwriting process.
What types of insurance can you purhase from Sagicor Life?
Life Insurance Products Offered through Sagicor Life:
Sagicor offers term life insurance, whole life insurance, and universal life products, as well as annuities to assist in retirement.
Life Insurance Products Offered through Sagicor
Choose from 10-, 15-, and 20-year term life insurance, whole life insurance, or universal life insurance. Coverage typically starts around $50,000 but may be different based on age and life insurance product.
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Did you know?
Insurance companies are NOT all the same. Some are more lenient on certain health issues, some focus on a no-hassle application without an exam, some are financially stronger than others, and their pricing varies a LOT! Get 2 to 3 quotes for best results!
WHAT Life insurance POLICIES DOES Sagicor LIFE insurance OFFER?
What Policies Does Sagicor Life Insurance Offer?
Sagicor offers various life insurance policies and annuities as a full-service life insurance company.
SAGICOR TERM LIFE INSURANCE
Check out these Sagicor Term Life Insurance Sample Quotes!
Sagicor Term Life Insurance
Sample Monthly Quotes
$100,000 - 10 Year Term
Male - $8.34
Female - $9.14
Male - $17.28
$250,000 - 15 Year Term
Female - $10.54
Male - $14.60
Female - $30.91
$500,000 - 20 Year Term
Male - $21.37
Female - $23.80
Male - $78.66
For more Sagicor Term Life Insurance Sample Quotes & Policy Details Click...
a brief history of Sagicor Life Insurance company
Sagicor Life Insurance Company has been offering life insurance products since 1954. However, the company’s roots date back to 1840 in Bridgetown, Barbados, as The Barbados Mutual Life Assurance Society. Licensed in 45 states and the District of Columbia, Sagicor Life Insurance Company has been part of Sagicor Financial Company Limited since 2005.
To stay afloat, the company focused on acquisitions in the 1980’s, acquiring eight life insurance companies. In 2006, Sagicor Life refocused their efforts to once again become a full-service life insurance company. The company now has over 111,000 life insurance policies in force with a value over $7 billion.
Americans are terrible at this one thing...
A recent study found that more than half of Americans overestimate the cost of term life insurance by three times. If you've never gotten a personalized quote or only seen quotes from one company, you likely have no idea how inexpensive life insurance really is!
Sagicor Life Insurance Products
Choose from term, whole, and several options for universal life insurance from Sagicor. Well qualified applicants can move through accelerated underwriting and have a policy in just minutes after the application is complete.
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Sagicor Life Insurance coverage details and guidelines
Sagicor life insurance products have different coverage limits and underwriting guidelines based on issue age, health, and product type. Term and universal life insurance starts at $50,000 while the lowest coverage limit for whole life is $25,000, except for final expense whole life insurance which can be issued up to $35,000.
Sagicor life insurance policies have several riders to choose from:
Accelerated death benefit: receive up to 50% of the death benefit while living if diagnosed with a terminal illness
Accidental death benefit: receive an additional death benefit if the insured dies from an accident
Children’s term rider: any child born or adopted can be added after 15 days of life and covered for term life insurance up to age 25 or married
Guaranteed insurability option (offered on IUL): able to purchase a specified amount of life insurance coverage without a medical exam
Waiver of monthly deductions: if the insured becomes totally disabled, Sagicor will pay the premiums until no longer totally disabled
Who Issues Their Policies?
Sagicor issues all life insurance and annuity products internally by Sagicor Life Insurance Company.
How Do I Get An Online Quote Through Sagicor Life?
Sagicor offers free quotes online through its website. Click on “Get a quote” on the homepage dropdown and enter a few pieces of information:
- State you live in
- Date of birth
- Whether you use tobacco or nicotine products
- What your overall health is (superb, excellent, good, fair, poor)
- If you are replacing an existing life insurance policy
Click on “get your quote” and Sagicor Life Insurance will provide rates for eligible policies you qualify on based on the information you provided.
Find Your Perfect Life Insurance Plan!
Click below to search for life insurance by company, coverage amount, and policy type.
WHO is Sagicor Life Insurance for?
Sagicor offers several options for life insurance with the option for no medical exam or fully underwritten coverage. Applicants from 18 to 85 (70 in CA) can apply for one of five different life insurance products, from term insurance to universal life.
Who is the ideal Sagicor life applicant?
Healthy individuals between the ages of 18 and 50 would be the ideal applicant for Sagicor Life Insurance Company.
what if i'm not perfectly healthy?
If you aren’t perfectly healthy, you may still qualify for life insurance with Sagicor under the fully underwritten process. Here are some rate quotes for term life insurance comparing Haven vs. Ladder vs. Bestow vs. Ethos vs. Fabric vs. Sagicor:
Our Favorite Life Insurance Companies
We've worked with and reviewed dozens of companies. Here are our faves.
Ladder Life Insurance
Best for: No-Exam Plans Up to Age 60
Ladder is known for a quick and easy online application with no medical exam required in many cases. They have 10, 20, and 30 year plans. They offer the most coverage without an exam in the industry. Coverage amounts start at $100,000 and go as high as $8 million.
Best for: Lowest Rates or Health Conditions
AIG Direct offers a range of custom term plans up to 35-year term as well as return of premium, and permanent plans that build guaranteed cash value. Their rates will beat just about anyone if you take an exam. They're also terrific if you take medication or have health issues.
Bestow Life Insurance
Best for: Convenient and Simple Plans
Bestow is known for their simple, straight-forward 10, 15, 20, 25 and 30 year term plans up to $1.5 million. They never require a medical exam (ever) and have great rates. Rates start as low as $8 per month.
how to apply for life insurance with Sagicor Life?
After receiving a quote, you can apply for life insurance with Sagicor online or by calling directly at 888-472-4426.
signing up for Sagicor life Insurance
Sagicor estimates it takes about 20 minutes to complete the application and some applicants receive immediate coverage once they pay. A decision usually takes about 10 minutes if you aren’t immediately approved, and once underwriting is complete, you should have a decision within five business days.
how does the application process with Sagicor life work?
Once you choose a life insurance product, you’ll have to supply your full name and email address. Then, you’ll be taken to the application where you’ll have to fill out detailed information on your:
- Health history
Sagicor life financial strength and bbb ratings
Sagicor has an A- rating with AM Best, which is considered excellent. This rating proves Sagicor Life Insurance Company’s ability to pay out claims when an insured dies.
Accredited with the Better Business Bureau since 2009, Sagicor Life Insurance Company has an A+ rating, which is the highest rating the BBB offers. This rating shows a low complaint volume and ability to resolve complaints.
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Sagicor Life reviews and complaints
Though Sagicor has the best score with the BBB, it only has 1 out of 5 stars based on customer reviews. Out of three complaints, customers state inability to get claims paid timely due to lack of paperwork and a billing issue.
After 200 reviews, Trustpilot rates Sagicor Life Insurance Company as excellent, with 4.5 out of 5 stars. Sagicor is also rated on Yelp, with just 2 out of 5 stars after four customer reviews. Reviews state lengthy processing times to pay claims and paperwork requirements delaying payments.
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Compare Sagicor Life Insurance VS New York Life
Both Sagicor Life Insurance Company and New York Life Insurance offer term, whole, and universal life insurance products. With New York Life, you have to go through a registered agent to get quotes and apply, plus all its life insurance products are fully underwritten. Sagicor offers the quote and application process online, with healthy applicants qualifying for no exam coverage, depending on age and coverage amount.
How to Compare Companies:
Life insurance companies vary widely in price and policy features they offer. The smartest move is to get quotes from two or three companies and compare the pros & cons of each.
Sagicor Life Insurance Alternatives
Many of the following companies have better products and cheaper prices versus Sagicor Life Insurance. Some even offer no medical exam policies.
AIG Direct Life Insurance Review
AIG Direct offers online quotes, works with healthy people (plus people in less-than-perfect health), and provides options for coverage you may not find elsewhere.
Banner Life Insurance Review
Banner Life Insurance company is part of Legal & General Group, a London-based multinational financial services company founded in 1836. Banner likes to keep their life insurance offerings simple with just term and universal life insurance.
Bestow Life Insurance Review
Bestow Insurance offers term life insurance for people between the ages of 18 and 60, and in generally good health. You can get coverage online in about 10 minutes starting at $10 a month.
Colonial Life Insurance Review
Colonial Life has one of the oldest reputations in the supplemental benefits industry. They offer life, accident, and illness policies to complement your health insurance plan.
Ethos Life Insurance Review
Ethos is not a life insurance company. They are a licensed producer and third party administrator. Founded in 2017, Ethos has developed an online platform that allows you to apply for life insurance and possibly get instant approval.
Fabric Life Insurance Review
Fabric Life offers affordable life insurance with easy, online quotes and application available 24/7. The company uses algorithms to speed up the underwriting process, with well-qualified applicants getting approved without a medical exam.
Geico Life Insurance Review
GEICO offers life insurance products through its partner, LifeQuotes.com. LifeQuotes.com provides access to dozens of life insurance carriers which makes it easy to get a quote for term, universal or whole life insurance.
Haven Life Insurance Review
Haven Life Insurance Agency, LLC, is a wholly-owned subsidiary of MassMutual and offers an easy and fast online quoting and application process for term life insurance.
Ladder Life Insurance Review
Ladder has developed an online platform that allows you to apply for life insurance and possibly get instant approval. They have teamed up with Fidelity Security Life in 49 states and in New York with Allianz Life Insurance Company of New York.
Leap Life Insurance Review
Leap LIfe uses artificial intelligence (Policy Matching AI) technology to compare your health, habits, and hobbies against life insurance company underwriting guidelines in order to match you with the best possible policy from a company that they represent.
Lemonade Life Insurance Review
Using AI technology and chatbots, Lemonade offers a completely online experience and lightning fast claims processing through its mobile app.
Matrix Direct Life Insurance Review
Matrix Direct Life Insurance, now AIG Direct, is a life insurance company offering coverage through American General Life Insurance and The United States Life Insurance Company in the City of New York. Most policies require a medical exam, but certain term and whole life products can be purchased without one.
Mutual of Omaha Life Insurance Review
Mutual of Omaha Living Promise Whole Life Insurance has both level and graded benefit plans. Underwriting is simplified issued – and does not require a medical exam.
Nerdwallet Life Insurance Review
When you request a quote from Nerdwallet Life Insurance you will be redirected to another website called Quotacy. Quotacy is backed by Hallett Financial Group, Inc. Hallett Financial Group, Inc is a full service multi-carrier independent insurance brokerage agency.
Pacific Life Insurance Review
Pacific Life is very competitive in the term life insurance and the guaranteed universal life insurance market. Most of the time in the Top 3 when compared to other leading carriers in the life insurance market.
Protective Life Insurance Review
Protective Life's vast number of products which offer some of the most competitive prices in the market is what sets them apart from the competition. For example, they have a competitively priced 35 and 40 year level term that most companies don't offer.
Prudential Life Insurance Review
Prudential Life Insurance is one of the largest life insurance companies in the US. They offer term life and universal life insurance policies that let you add extra features to customize your coverage.
SelectQuote Life Insurance Review
Since 1985, SelectQuote has saturated the advertising market with multiple TV, radio, & print adds per day. This is the reason they are the #1 direct to consumer insurance agency. BUT....
Transamerica Life Insurance Review
Transamerica Life Insurance Company is a leader in the life insurance industry. They offer a variety of competitively priced life insurance products and riders so you can customize your policy
TruStage Life Insurance Review
TruStage is convenient and is a solid company, but is a lot more expensive compared to other online life insurance providers, limits coverage to $100,000, and only offers 5-year terms.
FREQUENTLY ASKED QUESTIONS ABOUT SAGICOR Life Insurance
- Is Sagicor competitive? – YES. Sagicor Life Insurance ratings aren’t the lowest available, but they are consistently better than average when compared to those of the top insurers. In addition, Sagicor applicants may qualify for more coverage (up to $1,000,000 – see age restrictions) without a medical exam and pay significantly lower premiums verses a typical no exam policy
- What are the non-medical age limits? SAGICOR TERM LIFE |Issue Ages: 18 years to 45 years for face amounts of $50,000 to $1,000,000 – Issue Ages: 46 years to 55 years for face amount of $50,000 to $750,000 – Issue Ages: 56 years to 65 years for face amounts of $50,000 to $500,00| SAGICOR WHOLE LIFE | Available for face amounts of $25,000 to $250,000 for ages 16 years to 65 years
- Will I need a medical exam? Yes & No. A medical may be required for some applicants and for others it may not. It will depend on the your answers on the the application platform.
- Can I still get coverage even if I’ve has some health problems? Possible. Every customer is underwritten individually and receives a price based on many factors – (medical history, current health, age, and gender). It is possible to be denied coverage due to health issues.
- What exclusions does the policy have? A death claim will not be paid by the company if death occurs due to suicide during the first 2 years of coverage. Claims can also be denied during the first 2 years of coverage if you commit fraud or material misrepresentation when you applied for the policy.
- Will applying for Sagicor Life Insurance hurt my credit score? – No. Insurers look at the data behind your credit score – timeliness of payments or if you’ve filed for bankruptcy – but not your credit score itself. The request for this data is only a soft credit inquiry and doesn’t impact your credit.
- Does Sagicor Life have good customer service? – YES. Their website portal is very efficient in handling the life insurance application / underwriting process. They also have a customer service team of agents that give excellent and professional advice.
- Are there any customer complaints about Sagicor? – YES & NO. If you fit their profile and get approved for the coverage, it will be an easy buying experience. You will be happy and have no complaints. If you are rejected, you will not be happy. This in turn will generate some complaints.
- Is the Sagicor website good, safe and reliable to use when buying life insurance? YES. The Sagicor platform appears to be safe and secure. However, caution should be taken before entering your personal information on Sagicor’s or any website.
- What happens when I turn 85 years old? Your coverage will expire if you have Sagicor term insurance. If you have Sagicor whole life insurance, it will remain in force and the premium will remain guaranteed.
- What is life expectancy? Life expectancy is the statistical expectation of how long someone will live at birth based on a number of factors such as socioeconomics, demographic, geographic, thermographic, stenographic, idiographic, and historiographics.
For over a century, Sagicor Life Insurance Company has been helping people plan their estates by offering term, whole, and universal life insurance. Healthy applicants may qualify for no medical exam life insurance while others will have to complete the underwriting process to see if they qualify. Rates are based on your age, health, product type, and coverage amount, and can be competitive compared to top insurers.
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