Accordia Life Insurance Review 2017

Insurance, Life Insurance

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Accordia Life

  • Offers term, universal and indexed universal life insurance.
  • You can’t get a policy if you’ve ever abused drugs or alcohol.

Overview

Accordia Life, based in Des Moines, Iowa, is a subsidiary of Bermuda-based financial services company Global Atlantic Financial Group Limited.

A.M. Best financial strength rating: A- (excellent)

Accordia’s financial strength is “excellent,” according to ratings agency A.M. Best.

Financial strength is important because it indicates how well an insurer can pay claims. It’s especially important when choosing a life insurance company because claims might not be made until many decades after a policy is purchased.

Consumer complaints: Better than the median

Accordia drew fewer than the median number of complaints to state regulators in 2015 for a company of its size, according to the latest data from the National Association of Insurance Commissioners.

The association assigns a complaint ratio score to insurance companies, based on the number of complaints to state insurance commissioners, adjusted for market share. The median score is 1. A score less than 1 means fewer complaints. Accordia’s score for individual life insurance in 2015 was .31.

Accordia Life Insurance coverage options

Types of life insurance soldGood to know
  • Term life
  • Universal life
  • Indexed universal life
     
     
     
     
  • Accordia offers Wellness for Life, a rider you can add onto a permanent life insurance policy that gives you a discount if you go to the doctor at least every other year. You can save more if you maintain your weight to the range determined on your policy at the time of purchase.
  • Accordia Life Insurance discounts

    Every life insurance company has its own specific rules about when applications will be denied or priced higher. Here’s a closer look at some of Accordia Life’s term life insurance guidelines: Every life insurance company has its own specific rules about when applications will be denied or priced higher. Here’s a closer look at some of Accordia Life’s term life insurance guidelines:

    • Blood pressure: For applicants ages 18 to 60, blood pressure of 135/85 with no treatment will qualify for the best rates, called “Premier.” For ages 61 and up, 145/90 or better with no treatment will qualify.
    • DWI (driving while intoxicated): Applicants can have no DWIs or reckless driving convictions in the past five years.
    • Nicotine: For the best rates, there must be no nicotine use for the past five years.
    • Substance abuse: There must be no history of alcohol or drug abuse at all for any applicants.