About Sagicor Life Insurance
Sagicor has developed a solid reputation because of its financial stability. That reputation is based on the Sagicor’s excellent financial prudence over the years. Established in 1840, The Barbados Mutual Life Assurance Society was one of the oldest insurers in America. In November 2002, after 162 years as a mutual company, the company was demutualized to provide the structure and tools needed to compete and succeed in a changing world.
The company’s name, Sagicor, is a combination of two words – “Sage,” meaning wise and “Cor,” for heart or judgment. The name Sagicor, therefore, reflects its dominant philosophy of wisdom with heart.
Sagicor’s Financial Stability
An insurance company’s financial ratings by third-party rating services should be the first thing you look for, even if their rates are lower than everyone else.
Life insurance is a promise to pay in return for your premium and in many cases, this promise must be maintained over decades. It certainly makes good sense to know upfront that the insurance carrier you’re selecting can pay policyholder claims when the worst thing happens.Here is how Sagicor Life Insurance ranks with A.M. Best as of September, 2019:
|Sagicor Rating||A- (Excellent)|
|Financial Category||$100 Million to $250 Million|
|Effective Date||September 20, 2019|
Sagicor Life Insurance Products
The management at Sagicor is pleased to offer a portfolio of life insurance products and annuities to enable policyholders to financially protect surviving loved ones.
Term Life Insurance
Sagicor’s Sage Term insurance product provides affordable term insurance coverage for 10, 15, or 20-years.
The company uses an innovative underwriting process known as Accelewriting® that puts the ordinary underwriting process on a fast track. Most applicants will be provided an underwriting decision within minutes and will typically not be required to submit to a life insurance medical exam.
Qualification for Accelewriting® is applied as follows:
Applicants age 18 to 45
Face amount $50,000 to $1 million qualify for Accelewriting®
Face amount over $1 million is fully underwritten
Applicants age 46 to 55
Face amount $50,000 to $750,000 qualify for Accelewriting®
Face amount over $750,000 is fully underwritten
Applicants age 56 to 65
Face amount $50,000 to $500,000 qualify for Accelewriting®
Face amount over $500,000 is fully underwritten
Applicants age 66 to 75
Face amount of $50,000 or more is fully underwritten
Sagicor’s rates are very competitive with other national carriers even when there is no medical underwriting involved. Here are actual rates for a $500,000 20-year policy for a male and female using preferred health class:
|Age of Applicant||Male||Female|
Available Term Riders
For individuals who want more than just a death benefit, Sagicor Life offers several riders that will broaden their coverage and offer living benefits.
Whole Life Insurance
The whole life policy from Sagicor is designed to provide guaranteed insurance for a lifetime that includes a cash component. When you purchase Sagicor whole life insurance, you receive the benefits and guarantees that whole life insurance policies have been providing consumers around the world and the peace of mind knowing that your benefits cannot be disturbed by the insurance company.
Whole Life Insurance from Sagicor provides financial solutions in a variety of ways and can be an essential financial solution for many different reasons.
Sagicor offers the following products to make certain your plans and financial goals can be met:
Universal Life Insurance
When individuals and families are concerned more about cash accumulation than the death benefit, many often consider Universal Life insurance because the price point is generally somewhere between term insurance and whole life.
Sagicor offers several products that offer substantial wealth accumulation over time and the funds are available tax-free to the policyholder when they are taken via policy loans. You can begin your wealth accumulation by choosing from the following products: