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Insuracy Life Insurance Review

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Insuracy is an online insurance marketplace based in Illinois and operated by the digital distribution platform Elagy. In addition to life insurance products, Insuracy also can connect customers to renters, boat, auto, home, and other insurance providers. Insuracy's life insurance policies are underwritten by the Lumico Life Insurance Company.
 
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How is Insuracy rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Insuracy is a solid option for term life insurance plans. Although the website has the feel of an aggregator, its life insurance portal specifically is not. Customers are funneled through a thorough, Insuracy-branded process to get a single quote from Lumico Life Insurance Company, one of the most respected carriers in the industry today. Those looking for simple term policies of 10-30 years with death benefits of $50,000 to $1 million can get quoted and approved entirely online when they go through Insuracy's process. This is of immense value to those who prefer a black and white online process and do not want to negotiate with agents face to face or over the phone.

Financial Strength

Key Details

AM Best Financial Rating
A

Company Stability - 0 / 5

Insuracy's life insurance policies are underwritten by the Lumico Life Insurance Company. The carrier has an A financial strength grade from AM Best. This is the second highest grade issued by the agency and indicates a solid and stable financial outlook. Additionally, Lumico is part of the global Swiss Re financial services organization, an entity that has been in operation for more than 50 years.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Total Complaints 2017
1

Customer Ratings

BBB Rating
A
Number of BBB Positive Reviews
0
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
0
Date Collected
2018-07-12

Reputation - 0 / 5

As Insuracy has no presence with the BBB or Trustpilot, we've used the information pertaining to underwriter Lumico. Lumico has an A with the BBB and no negative comments. Additionally, Lumico had no complaints lodged with the National Association of Insurance Commissioners in 2016 and only 1 complaint in 2017. For a company its size, this is well below the weighted national average.

Insuracy Policies

Insuracy offers customers the following life insurance policies: Term.

Term Life Insurance

Minimum Age
18
Maximum Age
65
Minimum Death Benefit
$50,000
Maximum Death Benefit
$1,000,000
Available Terms
10 year
15 year
20 year
30 year

Policies & Coverage - 0 / 5

Although Lumico provides term, whole, and final expense coverage, Insuracy exclusively gives access to the carrier's term policies. Through it's convenient online portal, customers can choose 10, 15, 20, or 30 year policies with a minimum payout of $50,000 and a maximum of $1 million. It is unclear if coverage purchased through Insuracy includes term to permanent conversions available with Lumico's own life insurance plans.

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Disability Income Rider

Flexibility & Available Riders - 0 / 5

Additional Company Information

Homepage URL
https://www.insuracy.com
Company Phone
(800) 913-2135
Headquarters Address
1400 South Wolf Rd, Building 500, Wheeling, IL, 60090
Year Founded
1984

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Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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