Accordia Life Insurance Review (2024)
Accordia Life insurance offers term life and indexed universal life insurance through its parent company Global Atlantic Financial Group. There are three different levels to its universal life insurance policies, and all have a tax-free death benefit. The Accordia Life and Annuity Company A.M. Best rating is an A, but there are some negative reviews on its BBB page.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ...
Licensed Agent & Financial Advisor
UPDATED: Jan 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jan 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Term life and indexed universal life insurance are the only two policies available from Accordia Life
- Accordia Life insurance rates are about $9/month
- A.M. Best gave Accordia Life an “A” rating
- Accordia Life has a one-star rating overall based on the Better Business Bureau’s customer reviews
Accordia Life insurance company offers a limited selection of life insurance policies. If you’re considering comparing Accordia life insurance rates to other companies, there are a few important things to know.
While affordable Accordia Life insurance might be available to you, the policy types are limited. Read on to learn what life insurance products are available, see how Accordia ranks with third-party ratings, and find out why insurance is so expensive for older policyholders.
Continue reading to learn more about Accordia Life insurance. Enter your ZIP code in the free comparison tool above to compare quotes from the top insurance companies in your local area.
What Accordia Life insurance policies are available?
Before you buy Accordia Life insurance, it’s essential to know what’s available at the company. The Accordia Life and Annuity Company have term life insurance and indexed universal life insurance (IUL).
Here’s a list of IUL insurance policies that Accordia Life provides:
- Lifetime Foundation ELITE
- Lifetime Builder ELITE
- Global Accumulator
Information on Accordia’s term life insurance program is somewhat limited. If you’re determined to get a life insurance policy with Accordia Life, continue reading to learn how Accordia Life insurance quotes are affected by various factors.
Read more: Does getting a life insurance quote affect your credit score?
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How much are Accordia Life insurance rates?
On average, term life insurance is much cheaper than permanent life insurance policies, like indexed universal life insurance.
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Permanent life insurance comes with an accumulated cash value as well as a death benefit. When you pay your monthly rates, you add money to an account in addition to paying for the life insurance coverage.
The great part of permanent life insurance is that the death benefits are tax-free.
Term life policies only include life insurance coverage. Let’s look at how much you’ll pay for term life insurance at Accordia Life.
Accordia Life Average Monthly Insurance Rates by Age, Gender, Term and $100K Death Benefits
| Age of Non-Smoking Policyholder | Accordia Life Monthly Rates (Female) | Accordia Life Monthly Rates (Male) | Accordia Life Monthly Rates (Female) | Accordia Life Monthly Rates (Male) |
|---|---|---|---|---|
| 25 | $9.08 | $9.79 | $10.68 | $11.93 |
| 30 | $9.26 | $9.79 | $10.77 | $12.28 |
| 35 | $9.26 | $9.88 | $11.57 | $12.28 |
| 40 | $10.95 | $11.57 | $13.71 | $16.02 |
| 45 | $12.64 | $14.51 | $17.53 | $22.16 |
| 50 | $16.02 | $20.56 | $23.85 | $30.79 |
| 55 | $20.47 | $28.84 | $33.38 | $46.10 |
| 60 | $29.64 | $42.81 | $52.51 | $75.38 |
| 65 | $43.88 | $67.91 | $95.68 | $166.88 |
Accordia Life insurance rates are cheapest for female policyholders in their mid-20s, but male customers 50 and above pay the most for life insurance. Also, your life insurance rates will increase if you select life insurance with a longer term.
Ultimately, your Accordia Life insurance rates are determined by age, gender, policy limit, health, and policy type.
Does Accordia Life insurance have good financial strength ratings?
According to A.M. Best, Global Atlantic Financial Group Ltd and its subsidiaries (Accordia Life) have earned an “A” rating in 2020. There are also other financial ratings to consider.
Let’s compare A.M. Best ratings to Moody’s and S&P.
- AM Best – A (Excellent)
- Moody’s – A3
- S&P Global – A- (Strong)
This means Accordia Life has a stable financial outlook and an excellent ability to meet obligations to customers. However, the Better Business Bureau reports a one-star customer review rating for Accordia Life.
Accordia Life Insurance Company Details
Since Accordia Life insurance company has an online presence through its parent company, Global Atlantic Life, you can make an Accordia Life insurance online payment. Or you can mail your monthly payment to Accordia Life and Annuity Company payment address at:
Accordia Life and Annuity Company
215 10th Street Suite 1100
Des Moines, IA 50309-3616
The Accordia Life and Annuity Company is a subsidiary of Global Atlantic Financial Group LLC. Global Atlantic bought Accordia Life in 2013 after Accordia went through acquired a few companies and settled a class-action lawsuit with policyholders.
It’s unclear when the Accordia Life insurance company was founded.
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Seamless Claims Process With Accordia Life Insurance
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
Accordia Life Insurance offers multiple options for filing a claim, providing policyholders with flexibility and convenience. You can file a claim through their online portal, over the phone, or by using their mobile app. This variety of options ensures that policyholders can choose the method that best suits their preferences and needs.
Average Claim Processing Time
The average claim processing time at Accordia Life Insurance can vary depending on the complexity of the claim and the documentation provided. However, they aim to process claims as efficiently as possible to provide timely support to their policyholders.
To get specific information on the average processing time for your claim, it’s advisable to contact Accordia directly or consult your policy documents.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on claim resolutions and payouts is a critical aspect of evaluating an insurance provider. While Accordia Life Insurance has received an A.M. Best rating of A, indicating good financial stability, there have been some negative reviews on its BBB page.
It’s essential for policyholders to research and assess customer feedback to make informed decisions about the company’s claim resolutions and payouts. Additionally, reaching out to Accordia’s customer service for any concerns or questions is recommended.
Unleashing Innovation With Accordia Life Insurance Digital and Technological Features
Mobile App Features and Functionality
Accordia Life Insurance offers a mobile app that provides policyholders with convenient access to their insurance information and account management. The app is designed to be user-friendly and offers features such as policy details, payment options, and claims tracking.
It allows policyholders to manage their policies on the go, making it easier to stay up-to-date and make necessary adjustments.
Online Account Management Capabilities
Accordia’s online account management capabilities are robust and user-friendly. Policyholders can log in to their accounts through the company’s website to access various features. These capabilities include reviewing policy details, making premium payments, updating personal information, and viewing claim status.
The online platform streamlines the policy management process, providing policyholders with convenient options for maintaining their coverage.
Digital Tools and Resources
Accordia Life Insurance provides a range of digital tools and resources to assist policyholders in understanding their coverage and making informed decisions. These resources may include educational articles, calculators, and interactive features to help customers assess their insurance needs.
Policyholders can access these digital tools online, allowing them to gather the information they need to make the right choices regarding their insurance policies.
Accordia Life Insurance: What’s the bottom line?
If you need affordable Accordia Life insurance, it shouldn’t be hard to find, but you’ll likely pay four times more when you buy IUL insurance. IT’s important to understand how much life insurance you need before purchasing an Accordia Life insurance policy.
Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?
Before making any big insurance decisions, use our free tool to compare insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!
We hope this Accordia Life insurance review has been helpful. Use our free online quote tool below to compare the multiple insurance companies near you.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ...
Licensed Agent & Financial Advisor
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.