Sagicor Life Insurance Review

Planning for your future | Life Insurance

This in-depth Sagicor life insurance review will provide you with everything you need to know about Sagicor’s no-exam life insurance.  Our Sagicor life insurance review will cover critical factors to choosing the right life insurance like the Sagicor life credit rating, qualifying for Sagicor no-exam life insurance, and Sagicor life insurance quotes.  If you are considering no-exam life insurance to protect your family, then this review will arm you with all the facts you need before your purchase.

sagicor life insurance review

The Sagicor Life Insurance Credit Rating and History

Not everyone may have heard of Sagicor Life Insurance Company but that is not necessarily a bad thing.  You see, Sagicor has made a decision to invest its marketing dollars in lowering cost for its policyholders instead of on billboard ads and TV commercials.

However, just because Sagicor Life is not the name of your local sports stadium, does not mean that you cannot place your trust in Sagicor.  Sagicor Life has been keeping its promises to its policyholders for over 175 years!

Sagicor Life Insurance Company History

Sagicor Life was founded as a mutual company in 1840 called the Barbados Mutual Life Assurance Society.  Over the years, the company grew through mergers and acquisitions providing insurance and financial services internationally throughout the former British Empire.

Sagicor demutualized in the early 2000s and acquired the American Founders Life insurance company, which was rebranded as the Sagicor Life Insurance Company that we know today.  Sagicor’s name is a combination of the words Sage (meaning wise) and Cor (meaning heart or judgment).

Today, Sagicor embodies wise judgment in their company vision “To be a great company committed to improving the lives of the people in the communities in which we operate.”  Sagicor’s mission is “To be a life insurance organization that consistently generates high returns to its shareholders, exceptional opportunities for its employees, and respect and trust from its various publics.”

Sagicor Life Insurance Company Ratings

Sagicor Life is an accredited business with the Better Business Bureau since 2009.  Sagicor life was awarded a grade of A+ on a grading scale of A+ to F. While no life insurance company is perfect, this accreditation is an indicator that unsatisfactory customer experiences are the exception rather than the rule.

In addition, Sagicor Life currently has a credit rating of A- (Excellent) as of August 31, 2018, from A.M. Best with a stable outlook.  This is considered investment grade and the 4th best rating out of a possible 16 total.  Sagicor’s company assets total over $5 billion and they are viewed as financially stable.

Sagicor No-exam Life Insurance Options

Sagicor is an industry leader in affordable no-exam life insurance.  Sagicor’s Accelewritting is a state-of-the-art system designed to eliminate the need to meet face-to-face with an agent, telehealth interviews, and traditional underwriting requirements, such as paramedical exams, medical records, and bodily fluid tests, for qualified applicants.

Instead, Accelewriting utilizes predictive analytic tools and databases in order to provide an underwriting decision, sometimes within minutes!  Accelewriting is available on Sagicor’s Sage Term Insurance, Sage No Lapse Universal Life Insurance, and Sage Whole Life Insurance for qualified applicants.

Sage Term Life Insurance

Sagicor’s Sage Term Life Insurance is one of the most competitively priced no-exam term life insurance contracts on the market today.  Sagicor’s Sage Term comes in a 10-year, 15-year, and 20-year term durations, and they offer qualified applicants the ability to secure affordable term life insurance without the hassle of a medical exam up to $1,000,000 in death benefits!

Sagicor also allows their Sage Term policies to be converted without evidence of insurability to any permanent life insurance policy currently being allowed for conversion at any time before the policy anniversary after the insured’s 70th birthday.  Term conversions in years 2-5 allow the policyholder to apply 100% of their prior 12 month’s premium towards the cost of any eligible permanent life insurance product, which is a nice added benefit.

Sagicor’s Sage Term comes with a built-in accelerated benefit insurance rider at no additional cost.  However, the rider only advances a portion of the death benefit proceeds terminal conditions or a nursing home confinement only.  Quite frankly, there are better no-exam accelerated benefits options available.  Check out our Ameritas Life Insurance and FLX Living Benefits review with built-in chronic illness and critical illness protection as an alternative.

Sagicor No-exam Life Insurance Issue Ages (Sage Term)

  • 18 years to 65 years – 20-year Term (to age 55 for Tobacco)
  • 18 years to 70 years – 15-year Term
  • 18 years to 75 years – 10-year Term

Sagicor Sage No Lapse Universal Life

Sagicor’s no-exam universal life insurance policy offers lifetime death benefit coverage without the hassle of a medical exam up to $400,000.  Sagicor’s Sage No Lapse Universal Life policy acts somewhat similar to a term policy to age 121 offering affordable lifelong insurance coverage.

Guaranteed universal life is generally the most affordable way to secure lifetime death benefits coverage.   Unlike whole life insurance, there is little or no cash surrender value associated with the contract.  That being said, GUL premiums can cost significantly less than traditional whole life insurance, sometimes up to 50% less!

The Sage No Lapse Universal Life policy includes built-in accelerated benefit insurance riders for terminal illness and chronic illness but no critical illness surprisingly.  If accelerated benefits for critical illness is important to you there are better no-exam options available.  Check out our American National Insurance Company  review for one of the most competitive guaranteed universal life insurance policies with accelerated benefits for critical illness, chronic illness, and terminal illness on the market today.

Sagicor No-exam Life Insurance Issue Ages (Sage NLUL)

  • 15-days old to 85-years old

Sage Whole Life Insurance

Sagicor also offers a no-exam whole life insurance option on its Accelewriting platform.  Unlike most whole life insurance companies that will only offer no-exam coverage for smaller death benefits, like $25,000-$50,000, Sagicor will allow up to $250,000 without the hassle of a medical exam for qualified applicants!

Sagicor’s Sage Whole Life insurance offers both guaranteed cash value growth and guaranteed death benefit.  The cash value can be borrowed against through tax-advantage loans in a pinch, which is an attractive savings feature of the policy.  Unfortunately, Sagicor’s Sage Whole Life is a non-participating policy.  This means that the Sage Whole Life does not accrue dividends like some other whole life policies.

Sagicor’s Sage Whole Life also includes a built-in accelerated death benefit rider for terminal illness but no option for chronic illness or critical illness.  If you want additional protections for chronic illness and critical illness built into your whole life policy, we suggest reading our Foresters Life review for a more robust whole life option.

Sagicor No-exam Life Insurance Issue Ages (Sage Whole Life)

  • 15-days old to 85-years old

Can I Qualify for Sagicor No-exam Life Insurance with Pre-existing Health Conditions?

Sagicor’s no-exam life insurance can accommodate most mild and minor health issues such as high blood pressure or obesity.  That being said, accelerating is best for people who are generally in fair-to-exceptional health.

Sagicor uses the following methods to determine if you qualify for life insurance without a medical exam:

  • Prescriptions database check
  • Third-party data searches
  • Medical Information Bureau (MIB) check
  • Motor Vehicle Records (MVR) check
  • Health questions on the application

When you are applying for Sagicor no-exam life insurance, you should be as honest and transparent about your health as possible.  Even if you are no longer taking a medication today, but were prescribed medication within 5 years of your application, we should note that on your application.

If it is one thing that no-exam life insurance companies hate, it is being surprised.  By disclosing things that may appear on your prescription background check, we believe you improve your chances of getting covered.  If your background checks contradict your answers on the application, the underwriter may be conservative and decline your application.

If you have a complex medical history or a pre-existing health condition, you should work with a knowledgeable agent to see if you qualify as a good candidate for no-exam life insurance.  If Sagicor no-exam life insurance is not the best fit, your agent can recommend an alternative option that would better suit you.

Sample Sagicor Life Insurance Quote

We have included some sample Sagicor life insurance quotes to illustrate just how great Sagicor’s no-exam Sage Term Life Insurance is.  Please note that you need to qualify for these rates based on your health, lifestyle, and other factors.

Sample Sagicor Life Insurance Quote: Sage Term (Age 30)

DEATH BENEFIT MALE 10 - YEAR MALE 20 - YEAR FEMALE 10 - YEAR FEMALE 20 - YEAR
$ 250,000
$ 13.83
$ 18.12
$ 11.51
$ 15.34
$ 500,000
$ 21.36
$ 29.34
$ 16.73
$ 24.38
$ 1,000,000
$ 34.87
$ 51.49
$ 25.93
$ 39.21

Please note that these Sagicor Life Insurance quotes are for the preferred non-tobacco health class. 

Sample Sagicor Life Insurance Quote: Sage Term (Age 40)

DEATH BENEFIT MALE 10 - YEAR MALE 20 - YEAR FEMALE 10 - YEAR FEMALE 20 - YEAR
$ 250,000
$ 21.16
$ 25.80
$ 19.48
$ 20.88
$ 500,000
$ 36.01
$ 45.29
$ 32.66
$ 35.46
$ 1,000,000
$ 59.69
$ 80.60
$ 52.38
$ 63.69

Please note that these Sagicor Life Insurance quotes are for the preferred non-tobacco health class.

Sample Sagicor Life Insurance Quote: Sage Term (Age 50)

DEATH BENEFIT MALE 10 - YEAR MALE 20 - YEAR FEMALE 10 - YEAR FEMALE 20 - YEAR
$ 250,000
$ 43.97
$ 57.18
$ 37.05
$ 48.73
$ 500,000
$ 81.63
$ 45.29
$ 32.66
$ 35.46
$ 1,000,000
$ 80.60
$ 108.06
$ 67.81
$ 91.16

Please note that these Sagicor Life Insurance quotes are for the preferred non-tobacco health class.

How Do I Apply for Sagicor Life Insurance Online?

The first step to filling out your Sagicor Life Insurance application online is requesting a quote.  One of our veteran agents will qualify you over the phone to be sure that you are eligible for Sagicor’s no-exam life insurance and provide you with a Sagicor Life Insurance quote.

After your agent has pre-qualified you, they will assist you in filling out your Sagicor Life Insurance application.  The entire application can be completed securely online through email.  Once you’re approved, Sagicor will email you your policy for your record within a week on average.

If you have any questions during the process, you can contact your agent or the company directly.  The Sagicor Life Insurance phone number is 1-(888)-724–4267 or you can visit the Sagicor Life website.

The Final Word

Thank you for reading our Sagicor Life Insurance review.  Sagicor offers chart-topping no-exam term life insurance rates for qualified applicants.  Simply put, with rates this low there is no point in taking an exam every again for life insurance.

Sagicor is financially strong.  The Sagicor Life Insurance credit rating is investment grade with a stable outlook from A.M. Best.  Sagicor has been keeping its promises to its policyholders for over 170 years and is an accredited business with the Better Business Bureau.

If you are in the market for no-exam life insurance, do not delay.  Request a free no-obligation Sagicor Life Insurance quote or give one of our veteran agents a call today!

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