Accordia Life Insurance Review [2022]
Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in…
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Written by
Rachael Brennan
Licensed Insurance Agent
Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.
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Reviewed by
Benji Carr
Former Licensed Life Insurance Agent
UPDATED: May 2, 2022
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Quick Facts
Accordia Life is a newcomer to the life insurance and annuities marketplace; the company is less than 20 years old
Accordia Life is part of the parent company Global Atlantic which was created by Goldman Sachs back in 2004
In 2013, Global Atlantic split from Goldman Sachs
The Accordia Life brand was created in 2013 following Global Atlantic’s split from Goldman Sachs
Accordia Life insurance products and services are relatively new when it comes to the life insurance marketplace. Consumers are likely not as familiar with this life insurance company or the products that it offers.
Whether you are looking for term life insurance quotes or you just want to learn more about Accordia Life and Annuity Company, this review will be a helpful resource in your life insurance journey.
We will take the time to review the life insurance products offered by Accordia Life and Annuity Company, see what consumers think about this company, and review its financial strength ratings.
Ready to buy Accordia Life insurance? Enter your ZIP code above to compare life insurance quotes from the top companies in your area.
How do Accordia’s life insurance rates compare with the competition?
Compared with other major insurers in the marketplace, this is how Accordia Life Insurance monthly premium rates stack up for a $250,000 term life policy for a man.
And, this is how Accordia Life’s rates compare for a woman with a $250,000 term life insurance policy.
While Accordia Life may not have quite as many term life insurance options, it does have pretty good prices when compared with other major life insurance providers.
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What life insurance products does Accordia Life sell?
Accordia Life Insurance Company sells term life insurance, universal life insurance, and indexed universal life insurance products. This company does not sell whole life insurance products, which many consumers may want to purchase.
If you’re looking for whole life insurance, you will have to shop elsewhere because this company does not offer that type of life insurance. Whole life insurance offers coverage for a person’s entire life. If you do want permanent life insurance coverage, universal life insurance policies may be able to meet your needs.
What are the specifics of Accordia Life’s term life insurance policies?
Accordia Life’s term life insurance policies come in 10-, 20-, or 30-year term lengths. Most life insurance companies offer more term length options, including 15- and 25-year options, but Accordia Life Insurance Company does not.
Accordia Life Insurance Company will sell term life insurance policies with coverage as low as $50,000, which many other companies won’t offer. Most life insurance companies only offer a minimum of $100,000 of term life insurance coverage.
What are the specifics of Accordia Life’s universal and indexed universal life insurance policies?
Accordia’s most popular life insurance products are its universal life insurance products. Universal life policies may be a good option for you if you are looking for permanent life insurance coverage. However, universal life insurance coverage is not the same as whole life insurance.
Accordia Life offers three different types of universal life insurance. This includes two distinct indexed universal life policies.
Accordia Life’s basic universal life insurance policies offer consumers the ability to get permanent life insurance coverage, cash value accumulation, and versatility when it comes to paying their premiums and adjusting their coverage.
Universal life insurance offers consumers the benefit of tax-deferred cash value accumulation.
This type of life insurance policy can be a great savings vehicle if you have already maxed out your IRA or 401(k) contributions. Universal life insurance policies also give consumers flexibility with when and how much their premium payments will be.
Indexed universal life insurance gives consumers the ability to grow their cash value at a much higher rate. However, there are more risks associated with indexed universal life insurance policies. These policies allow the policyholders to invest the cash value of their policy in the markets.
Accordia Life offers two types of indexed universal life insurance coverage; these policies are branded “Lifetime Foundation” and “Lifetime Builder.” The Lifetime Foundation policy allows the policyholder to adjust the death benefit as it suits their needs. You can choose to focus on more cash accumulation or move life insurance coverage as the years go by.
The Lifetime Builder policy is more focused on the cash growth aspect of the indexed universal life insurance policy. This policy is most recommended for individuals who are focused on cash value growth.
Either of the indexed universal life insurance policies offered by Accordia Life can be customized to suit your needs with the addition of life insurance riders.
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Is getting life insurance from Accordia Life easy?
Most life insurance companies will allow you to get quotes and start the application process for life insurance online. This is not the case at Accordia Life. This company requires you to call a life insurance agent and speak about the application process with them to get started.
What do consumers think of Accordia Life?
Reviews on the Internet for Accordia Life are exceedingly negative, with a significant number of complaints. This is an indication that the customer service provided by this company is likely lacking in many key ways.
It is important to take consumer complaints with a grain of salt, but the online consensus for this company is overwhelmingly negative.
What is the financial strength of Accordia Life?
According to the independent financial reviewer A.M. Best, Accordia Life has a financial strength rating of A. This means the company is in a solid financial position and will likely be able to pay all of its benefits in a timely fashion.
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What’s the bottom line?
This life insurance business is relatively new to the life insurance industry. It doesn’t offer whole life insurance products, it doesn’t allow consumers to easily start the application process online, and it has a lot of negative reviews online.
If you’re looking for a universal life insurance policy, you may be interested in Accordia life, but if not, you’re likely to find a better company for your needs than this one. You might be able to find better protection for your family at a better rate with another provider.
Ready to compare Accordia Life insurance options with the competition? Enter your ZIP code below to compare life insurance rates from the top companies in your area.
