As an online independent insurance broker, our firm represents multiple highly-rated insurers like Sagicor which allows us to offer a quote from an insurer that best meets the needs of our clients and prospective clients.
Each life insurance company we represent has been carefully chosen based on their ability and commitment to offering competitive pricing, outstanding application processing, speedy underwriting, and excellent customer service. We feel it is our responsibility to pull back the curtain so our clients can take a closer look at each company.
Sagicor Life Insurance Company
We consider Sagicor Life Insurance Company to be a full-service insurer and although they’ve been operating for over sixty years, they are still considered a relatively young company compared to many insurers that have been operating for more than 100 years.
Sagicor is currently operating in 45 states and the District of Columbia and boasts a distribution network of over 6,500 independent and career agents. They have assets of $1.2 billion and are rated “A- Excellent” by A.M. Best rating services. Although this insurer is just 60 years old, their parent company Sagicor Financial Corporation is one of the oldest insurance groups in the Americas.
Riders Offered with Sagicor Term Life Insurance
These riders also referred to as “features,” can be added to Sagicor Life Insurance Term policies and can be used to customize the policy and broaden the coverage provided. Rider #1 and #2 are offered without an additional charge:
- Accelerated Benefit Rider
Sagicor automatically includes this rider with every term policy if it is approved in your state. The Accelerated Benefit Rider allows the policyholder to receive a portion of the death benefit in advance if they are diagnosed with a terminal illness that will likely result in death within 12 months or less, or be confined to a nursing home. The policyholder can request up to 100 percent of the death benefit.
- Conversion Endorsement
The conversion endorsement is included at no additional charge to the applicant. This endorsement gives the policyholder the right to convert their Sagicor term insurance to a permanent insurance policy that is offered by the company. The benefit for the policyholder is that there is no requirement for evidence of insurability (proving you’re still healthy) as long as you trigger this option during the guaranteed period of your policy. This period expires at the end of the policy term or when or the anniversary date following your 70th birthday. The value of this endorsement must not be understated as it gives the policyholder to go from temporary insurance to permanent insurance even they have developed health issues.
- Waiver of Premium Rider
Although this rider requires additional premium, it is an important measure to take for keeping your life insurance in force. If you become disabled and cannot work, the insurer will waive the periodic premium for the duration of your disability. The rider is available for policyholders between 18 and 55-years-old.
Most people experience severe financial issues resulting from a disability, and this rider can help prevent your policy from lapsing because of non-payment.
- Accidental Death Benefit (ADB)
The ADB rider pays an additional amount to the death benefit if the policyholder’s death is the result of a covered accident. The additional death benefit is equal to the face amount of the policy up to a maximum of $250,000. For example, if you have a term policy with a $300,000 death benefit and you die in a car accident, your beneficiary would receive the $300,000 death benefit, plus an additional $250,000 if you had purchased the rider. The ADB rider is available to insureds who are age 18-60 and expires on the insured’s 70th birthday.
- Children’s Term Rider (CT)
The CT rider allows a policyholder to insure all their children for a very inexpensive additional premium. The rider is provided in units of $2,000 in coverage and is available for up to 10 units. The CT covers all children under the age of 25 and any additional children born or adopted by the policyholder. The cost to the policyholder for the CT rider is only $5.76 per $1,000 of coverage and is available to policyholders age 18 to 60 and automatically expires on each child as they reach age 25 or marries, whichever comes first.
Other Products Available from Sagicor
Although Sagicor is a leader in Term Life Insurance, the company also offers a variety of permanent products for prospective customers wanting to secure coverage for a lifetime.
- Sage Whole Life
- Fixed Indexed Single Premium Whole Life
- Interest Sensitive Single Premium Whole Life
- Sage No Lapse Universal Life
- Fixed Index Universal Life
We believe that there are many advantages to working with an online insurance broker. When you purchase insurance online, you are allowed to shop and complete your purchase at your own pace while avoiding the pressure that can come with a face to face insurance purchase.
We certainly understand the busy schedules kept by most real estate professionals, and for that reason, we shall endeavor to offer outstanding products at super-affordable rates, and then follow up your purchase with superior customer service. We only represent companies that allow us to complete this mission, and Sagicor Life Insurance Company is one of the companies we are proud to represent.