Sagicor Life Insurance Review

3 min read

Sagicor Life Insurance offers low-cost, no-medical-exam life insurance that’s easy to apply for online and affordable. This might a big help to you, check out Sagicor Life Insurance Review by Life Insurance Grades.

How to get a quote from Sagicor Life insurance

Sagicor Life Insurance Review - Sagicor Insurance Company Logo

Sagicor Life provides free quotes online without requesting any personal information until you are ready to apply for insurance.

  1. To receive a quote from Sagicor, go to the company’s main website and click Get a Quote.
  2. Click on the Get My Quotes button once you’ve filled out the required fields with general information.
  3. See how your premiums alter based on how much coverage you pick using the slider bar. Select the policy you like, any optional riders, and click on the
  4. Apply Now button once your coverage needs have been determined.
  5. After you have filled out the required fields, click the Apply button to save your changes. If you already have a life insurance policy in your name, you’ll need the policy number and contact information from your doctor to complete the application.

What types of life insurance coverage does Sagicor Life offer?

With a basic set of riders available to tailor your policy, Sagicor Life offers term, whole, and last cost life insurance. There are several types of life insurance available to you.

  • Term life insurance. Sagicor provides free accelerated benefits riders with its 10-, 15-, and 20-year term life insurance plans. All applicants between the ages of 18 and 45 can take advantage of the company’s fast underwriting program, as well as those who are older depending on the level of coverage they choose. As a result, you’ll know the status of your application within minutes of submitting it. There is no age limit on converting term plans to whole life insurance policies.
  • Permanent life insurance. Sagicor’s fast underwriting procedure, which doesn’t need a medical exam or a phone interview for applicants 16 to 65, is available on all whole life plans. Candidates above the age of 65 must go through the entire underwriting procedure, while those under the age of 16 must deal with the juvenile issue. The following are your choices for long-term life insurance:
    • Whole life. Traditional permanent life insurance with a no-cost accelerated benefit rider that allows you to spend a portion of your death benefit if you are diagnosed with a terminal disease..
    • Universal life. With this insurance, you’ll have lapse protection built in, a customizable death benefit, and an interest rate that’s guaranteed each year.
    • Indexed universal life. You may select from three different interest schemes when purchasing universal whole life insurance, which might increase the cash value of your policy. Your policy’s flexible payment option lets you either pay more premiums to boost your cash value or pay the bare minimum to keep it active. The expedited benefit and lapse protection riders are included free of charge with your membership.
    • Indexed single premium universal life. Using this strategy, your cash value receives interest at market rates, but you get to pick from five different bonus techniques according on your risk tolerance and desired return. An expedited benefits rider, which covers both chronic and terminal disease, is included in the insurance. Return of premium protection is also included.

What riders can I add to my policy?

With Sagicor, you may customize your insurance with a basic range of riders to ensure that your coverage requirements are met. Adding a rider to a policy is not possible for all riders, however the following riders are accessible on all Sagicor policies

  • Accelerated death benefit rider. Assumes that you have been diagnosed with a terminal illness and that you will die within the next several years.
  • Accidental death benefit rider. It increases your death benefit by a lump sum if you are killed in an accident.
  • Child rider. This coverage extends until the age of 25 or until the kid marries for your children who are between 15 days and 19 years old, depending on the plan you choose. There are no health limits on converting this rider to a whole life insurance policy for up to five times the initial face value amount.
  • Rider that ensures you’ll be insured no matter what happens. Gives you the option to buy more coverage as needed without having to verify your insurability through questionnaires or medical tests on an ongoing basis.
  • Rider with lap-time reduction technology. Prevents the expiration of your insurance because of the cash value loans you take out.
  • Rider for long-term care. If you’re diagnosed with a chronic illness, you may be able to obtain money from your death benefit.
  • Rider waiving the right to a higher price. This rider waives your premiums until you can return to work if you become fully incapacitated.

Sagicor life insurance reviews and complaints

As of October 2020, Sagicor Life has an A + rating with the BBB and no unresolved consumer complaints. According to Trustpilot’s 200 reviews, the organization has a 4.5-star rating with most customers praising the quickness and convenience of the application procedure as well as the company’s exceptional customer service. AM Best assigned them an A-.

Check out and compare it in our post about RiverSource Life Insurance Review.