Accordia Life Insurance: What You Need To Know

Accordia Life Insurance Company is a subsidiary of Global Atlantic Financial Group Limited, a financial services company with a focus on the annuity, life insurance, and reinsurance markets. Accordia Life, based in Des Moines, Iowa, provides life insurance products to meet the protection, wealth transfer, and small business needs of customers throughout the United States. The company offers a range of insurance policies, including term life insurance, universal life insurance, and indexed universal life insurance, allowing policyholders to plan for both their short- and long-term needs. With seasoned professionals, proven product designs, and expertise in risk management, Accordia Life has built a strong reputation in the industry.

Accordia Life Insurance Company history

Accordia Life Insurance Company is a subsidiary of Global Atlantic Financial Group Limited, a financial services company with a focus on annuities, life insurance, and reinsurance. Global Atlantic has over $30 billion in assets and nine offices.

Accordia Life Insurance Company was established in 2013 when Global Atlantic gained the Aviva USA life insurance division. Based in Des Moines, Iowa, Accordia Life started with over 200 licensed agents and has built a reputation for seasoned insurance professionals, proven product designs, and expertise in risk management.

The company offers a range of life insurance products, including term life insurance, universal life insurance, and indexed universal life insurance. These options enable policyholders to plan for both their short- and long-term needs. Accordia Life's success is attributed to its foundation of experience, exceptional products, and deep relationships with customers and agents.

Accordia Life has received an "A-" rating from A.M. Best, indicating financial strength and stability. This rating highlights Accordia Life's ability to meet its financial obligations and pay policyholder claims, even decades after a policy is purchased. The company's financial stability is a crucial factor in providing peace of mind to its customers.

Accordia Life Insurance Company ratings

Accordia Life Insurance Company is a subsidiary of Global Atlantic Financial Group Limited, a financial services company with a focus on annuities, life insurance, and reinsurance markets. Accordia Life, based in Des Moines, Iowa, was established in 2013 when Global Atlantic acquired the Aviva USA life insurance division.

Accordia Life Insurance Company has received high ratings from independent rating agencies, indicating its financial stability and strong performance in the insurance industry. Here is an overview of its ratings:

A.M. Best Rating:

Accordia Life has earned an "A-" rating from A.M. Best, which is considered "Excellent." This rating indicates that Accordia Life is financially strong and stable, capable of fulfilling its policy obligations over the long term.

Better Business Bureau (BBB) Accreditation:

While Accordia Life has not been accredited by the BBB, the company has addressed and closed all 40 complaints filed against it over the past three years. These complaints covered various issues, including billing/collection, product/service problems, advertising/sales, and other concerns.

Standard & Poor's Rating:

Accordia Life Insurance Company has earned a strong rating of "A-" from Standard & Poor's, further reinforcing its financial stability and ability to meet policyholder commitments.

Accordia Life's ratings highlight its financial strength and ability to provide reliable insurance products to its customers. These ratings are essential for customers when deciding on an insurance company, as they indicate the company's ability to pay out claims, especially those that may occur decades after the policy is purchased.

Accordia Life Insurance Products

Accordia Life Insurance Company is an innovative life insurance company that provides customers and agents with proven expertise in indexed universal life insurance. The company's products help meet the protection, wealth transfer, and small business needs of customers throughout the United States. Accordia Life's success is built on a foundation of experience, exceptional products, and deep relationships.

The company offers several types of life insurance policies, allowing consumers to design coverage that suits their unique needs and giving them the flexibility to adjust their coverage as their requirements change.

One of the primary life insurance products offered by Accordia is Term Life Insurance. This type of insurance provides a death benefit only, with no cash value feature, making it an affordable option for those who require a larger amount of coverage. Accordia's Term Life Insurance is available in 10, 20, or 30-year terms, with level premiums throughout the policy's term. After the term ends, the insured individual can choose to re-qualify for the policy or let it expire. In certain cases, term life insurance can also be converted into a more permanent form of coverage, such as universal life insurance.

Universal Life Insurance (UL) is another key product offered by Accordia Life. This policy provides permanent life insurance coverage, which includes both a death benefit and a cash value component. The cash value component grows tax-deferred, allowing funds to compound and grow significantly over time. UL insurance offers more flexibility than whole life insurance, as policyholders can decide how their monthly payments are allocated between the death benefit and cash value, within set parameters. Accordia Life also offers several riders that can be added to a universal life insurance policy, such as accelerated access to the death benefit, accidental death benefit, and children's insurance.

Additionally, Accordia Life provides Indexed Universal Life (IUL) Insurance, a form of permanent life insurance protection. With IUL, the cash value grows based on the performance of a selected market index, such as the S&P 500. Even if the market declines, policyholders can still grow their funds as the principal in the cash value account is protected. Accordia Life offers several options within this category, including the Lifetime Builder IUL, the Accordia Life Provider IUL, and the Survivorship Builder IUL.

Accordia Life Insurance Company is a trusted provider of life insurance products, giving individuals and families the ability to customize their coverage and plan for both their short-term and long-term financial needs.

Accordia Life Insurance Company reviews

Accordia Life Insurance Company is a subsidiary of Global Atlantic Financial Group Limited, a financial services company with a focus on annuities, life insurance, and reinsurance markets. Accordia Life provides insurance products that help meet the protection, wealth transfer, and small business needs of customers throughout the United States. The company's offerings include term life insurance, universal life insurance, and indexed universal life insurance.

Accordia Life has received an "A-" rating from A.M. Best, indicating that it is a financially strong and stable life insurance company. This excellent rating is a testament to the company's financial stability and ability to pay policyholder claims, even decades after a policy is purchased. However, it is worth noting that Accordia Life is not accredited by the Better Business Bureau (BBB) and has received 40 complaints through the BBB in the past 3 years, all of which have been closed.

The primary life insurance products offered by Accordia Life include term life insurance, universal life insurance, and indexed universal life insurance. Term life insurance provides affordable coverage for a specified term, typically 10, 20, or 30 years. Universal life insurance offers permanent coverage with a death benefit and a cash value component that grows tax-deferred. Indexed universal life insurance is another form of permanent protection, where the cash value grows based on the performance of a selected market index, with the principal protected even if the market declines.

Accordia Life's parent company, Global Atlantic, is known for its innovative insurance products and has over $30 billion in assets. Accordia Life itself is based in Des Moines, Iowa, and started with over 200 licensed agents. The company's reputation is built on its experienced professionals, proven product designs, and expertise in risk management.

When considering purchasing life insurance, it is important to work with reputable agencies or agents to find the best policy for your specific needs. Accordia Life, with its strong financial rating and range of insurance products, is certainly worth considering, especially for indexed universal life insurance.

Accordia Life Insurance Company's parent company

Accordia Life Insurance Company is a subsidiary of Global Atlantic Financial Group Limited, a financial services company with a focus on annuities, life insurance, and reinsurance. Global Atlantic has a strong presence in the financial industry, boasting $40 billion in assets and a presence in nine offices. The company's history dates back to 2013 when it separated from Goldman Sachs and incorporated as Global Atlantic Financial Group Limited. In the same year, Global Atlantic acquired Aviva USA's life insurance division, relaunching it as Accordia Life, which officially launched on May 1, 2014.

Global Atlantic Financial Group Limited is a well-regarded company in the financial industry, known for its purpose-driven culture and commitment to serving its clients and communities with integrity. The company strives to create products that fit its customers' financial needs, offering a range of annuities, registered index-linked annuities, and insurance solutions.

Accordia Life, as a subsidiary, has built on the strength of its parent company to establish itself as an innovative life insurance provider. Accordia Life offers a range of life insurance products, including term life insurance, universal life insurance, and indexed universal life insurance. The company's success is built on a foundation of experience, with seasoned insurance professionals, proven product designs, and expertise in risk management.

Accordia Life has earned recognition for its financial strength and stability, receiving an "A-" rating from A.M. Best. This rating indicates that Accordia Life is considered a financially strong and stable life insurance company, capable of meeting its policyholders' claims.

In summary, Accordia Life Insurance Company operates under the umbrella of Global Atlantic Financial Group Limited, a reputable and established financial services company. Accordia Life has leveraged its parent company's resources and expertise to become a trusted and innovative provider of life insurance products, meeting the protection, wealth transfer, and small business needs of its customers across the United States.

Frequently asked questions