Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Amalgamated Life vs Assurity Life Insurance Company

Amalgamated and Assurity insurance companies are well renowned firms that have been in the market for long. They both occupy a huge market share and this article takes an in-depth look at these two life coverage companies and how they compare against each other, based on the quality of products they offer.

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Amalgamated life is an American labor insurance company that is dedicated to offering quality covers and other benefit programs for the good of society. Assurity Life Insurance Company has a legacy of 120 years. During this period it has been providing long term security to their clients and has earned generations of customer trust and confidence.

Both are viable options, depending on your needs. If you are one of the 53% of Americans who pay for life insurance coverage, based on 2010 statistics from the Insurance Information Institute, then you should take a closer look at these choices.

Amalgamated Life Insurance Company

The mission of Amalgamated is to offer world-class insurance at affordable prices, while still maximizing customer satisfaction. By virtue of them being deeply rooted to the labor community, they are able to understand and address the needs of union leaders, members and administrators. Their areas of expertise include:

  • Individual and group life insurance
  • Disability coverage
  • Health and pension
  • Medical insurance
  • Medical management
  • Benefits communication programs

The Amalgamated client roster consists of mainly union members, brokers, consultants, non- union members and fund administrators.

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Amalgamated Life Policies

Life insurance is tailored to protect and safe guard the well-being of working individuals and their families. It basically provides peace of mind and a sense of security. Their life cover is designed for all actively working individuals. Their term program has the following features:

  1. Flexibility in terms of benefits
  2. Policy holders are free to convert to a permanent policy with no need for medical underwriting
  3. Rated contracts for particular age groups
  4. ‘’A’’ rated security

Additional coverage to their life insurance options include dependent life in which members are free to purchase additional covers for their children and spouses. There is also retiree life coverage. Under this cover, employers may opt to give additional insurance for retirees. With supplemental life policy holder can add increased financial security for policy holders and their next of kin.  Other options from Amalgamated include:

  • Amalgamated Life vs Assurity Life Insurance Company

    Accidental Death and Dismemberment (AD&D): This cover comes into effect in case of paralysis, severe injury or accidental death of the policy holder. AD&D is designed to offer extra financial security for injured parties and their beneficiaries. The cover is however, not available in every state and is only open for people with a group life policy.

  • Medical Stop Loss: Amalgamated life is a direct writer in stop loss polices, you can be assured of fast response for proposal requests, discounts on high performance PPOs and top medical management services. Their disclosure decisions are also timely with an excellent claims management system. Specific stop loss is tailored to minimize the risk level that comes with high costs of individual claims. To read a white paper on the issue of medical stop loss go here.
  • Disability: Their disability cover is categorized into short term and long term. Under the short term disability cover, policy holders are entitled to income protection as a result of non-work site events like illness, accidents or even pregnancy. The benefits and length of the cover vary, contributory and non contributory persons are both eligible. Long term disability also applies to non- work injures. Long term benefits are given to the members depending on their needs and the circumstance at hand. It is also available under contributory or non contributory.
  • Voluntary Insurance Cover: Many workers only have a group term life cover; a voluntary cover is aimed at supplementing the group policy by offering additional security. The cover also provides flexibility for policy holders and their families and can even extend to dependent grandchildren. The products are priced based on financial realities of the working class people.

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Assurity Life Insurance Company

Assurity Company is basically affiliated with Lincoln Direct Life and Security Financial Life; the three are conglomerates. Their services and products are designed with the needs of middle class Americans in mind. To date, Assurity Life has the mandate to operate in 49 states. They have a range of products including:

Their disability income cover is grouped into individual, business overhead expense and graded benefit. The individual cover is designed for people in the middle or lower income levels. The cover comes into effect if the policy holder suffers illness, accident and is not in a position to work. The cover is given to persons between the age of 18 and 59.

Amalgamated vs Assurity Life Insurance for DisabilityThe business overhead applies to individuals who are key persons in a business and they become incapacitated to report to work due to an accident or illness. Some of the features of this policy include partial disability benefit, survivor benefit, rehabilitation benefit and total disability.

Policy holders have the option to choose between simplified and fully underwritten critical illness coverage. The simplified version is designed to pay lump sums upon diagnosis of the 12 covered illnesses. Person eligible for this cover are those between the ages of 18 and 59. The fully underwritten cover pays lump sums upon a positive diagnosis of the 21 covered illnesses. There are limitations and exclusions and it is available for policy holders to take a look at them.

The whole life coverage is tailored to provide a lasting financial solution tailored towards safe guarding the future of your loved ones.

Single premium life cover is meant for older individuals willing to buy death benefit with one single payment.

Term life covers are divided into term 350 plus, Acci-Flex accidental term and NonMed term. Universal covers are given under select and premium options. The select option is ideal for people who have limited resources and are still interested in a permanent cover. The premier option is for those looking for affordable and flexible terms of payment.

Amalgamated Insurance Versus Assurity Life Payments

Work site solutions are available under accidental expense, cancer expense, critical illness, hospital indemnity and term, whole and universal life policy options.

Amalgamated and Assurity insurance companies are both top rated by A.M Best Company and both are forces to reckon with in the market today. To get their quotes, you can make use of comparison sites which compare prices from various top insurers in order to get the best deals and choose an insurer who will meet all your requirements.

Use your ZIP and our FREE quotes tool to access policy quotes now!