Are you looking for life insurance without an exam? Not only can you get a quote within 20 minutes or less, but you can also purchase a policy entirely online from Sagicor.
Seems too easy? Let’s take a closer look at Sagicor life insurance and see if this online option is as easy as it sounds.
What is Sagicor life insurance?
Founded in 1840, Sagicor is no newcomer to insurance, but they have kept up with the times. Initially, they relied on a more traditional agent approach. Nevertheless, they strengthened their online presence in August 2020 with Sagicor NOW and the Sagicor GO mobile app, which is available on iOS and Android.
Sagicor offers Term life, whole lifeand universal life politics. They also offer pensions, groups and Health insurance coverage– Although not all of these options are currently available through the online platform.
They operate in 21 countries, including 45 US states and the District of Columbia, with 6,500 agents nationwide. The company has a strong financial rating with an A- (excellent) of AM Best, an A + rating from the BBBand BB (strong / stable) rating of Fitch.
How does Sagicor life insurance work?
To get started with Sagicor, click the Get a Quote button in the top right corner of the website.
You will be redirected to the Sagicor NOW website and asked to provide some necessary information including your date of birth, gender, the state you live in, whether you have used tobacco / nicotine in the past 24 months, and an assessment of your general health from bad to excellent.
Next, you can choose your coverage level, desired term, and add three optional coverage add-ons:
- Waiver of premium – Waiver of the policy premium if the main account holder is deactivated. Payments will resume when the policyholder recovers.
- Accidental death benefit – Provides an added benefit on top of the insured amount if the policyholder dies in an insured accident. You can opt for term life insurance coverage between $ 50,000 and $ 250,000. In the case of life insurance, the coverage must correspond to the nominal value of the policy.
- Child insurance – Adds $ 2,000 to $ 20,000 life insurance for children 15 days to 19 years old. Cover expires when the child marries or turns 25 (whichever comes first) and can be converted into permanent life insurance that is up to five times the original coverage. You cannot be denied coverage due to your existing health condition.
As you make your selection or move the slider, your estimated monthly payment will be updated automatically.
After clicking on “Apply now” you will be asked for your name, email address and telephone number. Sagicor will also provide you with a summary of your choices in relation to your location, health status, coverage, etc., as well as a list of the documents required to complete the application process (approximately 20 minutes from start to finish).
You will need:
- Your driver’s license or government ID.
- Doctor’s name and contact information.
- Desired information from the beneficiary.
- Existing life insurance data (if applicable).
On the next page, you will be asked for more specific information such as your social security number and date of birth.
The next four pages ask a number of health-related questions, including your height, weight, and medical history.
Finally, the website asks you to provide contact information and employment information before setting up payment options. You can pay monthly, quarterly, semi-annually or annually. With the exception of monthly, each option comes with a small discount. That’s it – you should have life insurance by this time.
Sagicor life insurance prices
Sagicor’s prices don’t seem like the lowest in the industry, but they are competitive. The exact premiums will of course vary based on a variety of factors such as age, gender, type of coverage desired and the amount of coverage desired. To give you a rough idea, here are some sample quotes I pulled from tinkering with your tool:
|10 year term||15 year term||20 years term||Whole life|
|Male, 35, non-smoker US $ 100,000 coverage||$ 9 per month||$ 9 per month||$ 10 per month||$ 105 per month|
|Woman, 35, non-smoker, US $ 100,000 coverage||$ 8 per month||$ 9 per month||$ 10 per month||$ 95 per month|
|Male, 35, non-smoker, $ 250,000 coverage||$ 11 per month||$ 12 per month||$ 14 per month||$ 245 per month|
|Woman, 35, non-smoker, $ 250,000 coverage||$ 10 per month||$ 11 per month||$ 13 per month||$ 230 per month|
These tariffs do not take into account any additional coverage options. For example, adding a premium driver waiver increased most of these offers by $ 3 to $ 12. The addition of $ 10,000 lifelong coverage for a 10-year-old child boosted listings by $ 5 across the board.
With Sagicor’s rate regulator, you can quickly see the impact of coverage, term and driver changes on your rate.
At first glance, Sagicor’s features are pretty standard for life insurance companies, but they have some standout features to help them stay ahead.
Guidelines without examination
Sagicor does not require a medical examination for most life insurance policies. However, a health questionnaire is part of the application process. Once disclosed, some applicants may be required to take an exam based on these questions.
Fast online application approvals
Taking out life insurance with Sagicor can only take 20 minutes thanks to the accelerated subscription process and online offers.
Excellent education and support platform
Sagicor’s customer service is nothing special – it offers a toll free number and Online chat options, much like most providers. However, they shine in their comprehensive FAQ and Insurance 101 section. Here they offer everything from an insurance calculator to a blog.
The company’s mobile app, Sagicor GO, allows you to view your policy documents, submit claims, make payments, and get support on the go. The user interface is easy to navigate and safe.
Love note program
Sagicor allows you to enclose a letter that you can send to your beneficiaries along with your death benefit after your death.
My experience with Sagicor
The online quote and buy process was by far my favorite aspect of working with Sagicor – it took me less than 20 minutes and no calls to make. This second part was a huge plus for me as I wouldn’t say I enjoy using the phone.
During the entire quotation process there were also practical explanatory fields to clarify questions, requirements and options. It was like having an agent there to answer my questions.
Fortunately, I haven’t had to make a claim yet. So far, however, I would rate my experience positively.
Who is Sagicor best for?
Those who want to avoid an exam
While life insurance rates tend to be slightly higher overall without an exam, Sagicor is a competitively priced option if you want to avoid a medical exam.
Short term life insurance buyers
Sagicor offers a wide range of easy-to-approve term life insurance policies. Even so, they are no more than 20 years old, which the company does best for people who prefer a shorter coverage period.
Because term guidelines are only available to applicants under 65, these guidelines offer the best prices as you can see in the sample offers Sagicor is a better option for younger applicants.
Who shouldn’t use Sagicor?
Those who are in excellent health
If you’re in good health and don’t mind getting a medical exam, you may be able to find better prices for a health exam.
Applicants over 65 who want a term guideline
If you’re over 65 and want term life insurance, it’s not so much that you shouldn’t be using Sagicor – but you can’t.