Nassau Life Insurance coverage Firm Assessment (2022)

The Nassau Life Insurance coverage Firm provides closing expense and time period life insurance coverage quotes to prospects in the USA. The corporate has aggressive charges however solely offers two riders. Moreover, the corporate has been rated a B+ by A.M. Greatest.

Inspecting the Nassau Life Insurance coverage Firm will assist you to resolve if the corporate is an effective possibility.

Earlier than beginning this Nassau Life Insurance coverage Firm overview, enter your ZIP code to search out free life insurance coverage charges in your space.

Does the Nassau Life Insurance coverage Firm have aggressive charges?

Life insurance coverage corporations use varied elements to find out charges. Every firm weighs these elements in another way, so it’s inconceivable to supply an correct quote with out private data. Nonetheless, a number of the elements used to find out charges embrace:

• Age
• Gender
• Well being
• Household historical past
• Location

One of the simplest ways to find out if an organization is an economical possibility is to match it with different corporations. With that in thoughts, the next chart exhibits the reasonably priced Nassau Life Insurance coverage Firm charges with different corporations for a $20,000 complete life plan based mostly on age.

Male $20,000 Entire Life Common Month-to-month Nassau Life Insurance coverage Firm Charges vs. Different Firms by Age

The next chart exhibits the identical data for females.

Feminine $20,000 Entire Life Common Month-to-month Nassau Life Insurance coverage Firm Charges vs. Different Firms by Age

As you’ll be able to see, Nassau offers cheaper protection than many rivals. Moreover, charges are decrease for females than males and enhance as prospects age.

What coverages are supplied by the Nassau Life Insurance coverage Firm?

Nassau solely provides time period life insurance coverage and closing expense insurance coverage. The corporate beforehand supplied common life protection however stopped providing that coverage just lately. Consequently, Nassau solely offers two protection sorts to prospects.

The corporate’s time period life coverage is named Protected Harbor Time period Life and is accessible in 10, 15, 20, and 30-year phrases. The protection is accessible for candidates between 18 and 80, however the accessible values rely on the applicant’s age and the particular plan.

Nassau’s time period life coverage comes as a simplified difficulty categorical plan or a completely underwritten non-express plan. Each of those choices are no-medical-exam insurance policies, however candidates nonetheless should fill out a medical questionnaire.

The first distinction between these choices is that the non-express plan has the next most worth. Whereas the categorical plan is accessible from $25,000 to $400,000, the non-express plan worth ranges from $50,000 to $500,000.

The non-express plan additionally has the next worth, nevertheless it would possibly require an Attending Doctor’s Assertion (APS), relying on the solutions to the questionnaire. Conversely, the categorical plan won’t ever want an APS. Moreover, the underwriting course of is faster for the categorical coverage.

Nassau’s solely complete life coverage is its closing expense plan, referred to as Remembrance Life. This coverage pays for closing bills, like funeral and burial prices, and is accessible for purchasers 50 years outdated and older.

The worth of this plan solely ranges from $10,000 to $50,000. Nonetheless, it consists of all riders supplied by the corporate.

Along with these life insurance coverage choices, prospects can buy annuity insurance policies. Nassau’s investments permit prospects to create a money worth that they’ll use to cowl safety from unplanned healthcare prices.

Does the Nassau Insurance coverage Firm supply any riders?

Most life insurance coverage corporations supply varied choices, permitting policyholders to customise their insurance policies. Whereas a few of these choices, often referred to as riders, are included freed from cost, most require a further charge.

The accelerated loss of life advantages rider is the most typical possibility supplied by life insurance coverage corporations. Nassau’s possibility permits prospects to entry as much as 95% of the loss of life profit earlier than loss of life if they’ve a terminal sickness, and it’s included with all insurance policies.

The unintentional loss of life profit rider pays a further lump sum if the insured dies from a coated accident. This feature is included freed from cost with the Remembrance Life plan and is accessible for time period life prospects for a charge.

For the reason that accelerated loss of life advantages rider and unintentional loss of life profit rider are free for many insurance policies, it gained’t enhance charges. Nonetheless, including the unintentional loss of life profit rider to a time period life coverage will enhance Nassau Life Insurance coverage Firm quotes.

How is the Nassau Life Insurance coverage Firm rated?

Credit standing businesses overview insurance coverage corporations and price them on their monetary power. These rankings permit prospects to find out the chance of receiving a payout once they file a declare.

Nassau RE has been rated a B+ by A.M. Greatest, probably the most revered score company. This score isn’t on the high of the dimensions however signifies that the corporate will present a payout in most conditions.

The Higher Enterprise Bureau (BBB) additionally charges corporations based mostly on their enterprise practices. For instance, the BBB has rated Nassau an A+, indicating that the corporate is reliable when working with prospects.

Does the Nassau Life Insurance coverage Firm have any complaints?

The Higher Enterprise Bureau (BBB) and the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) overview complaints made about insurance coverage corporations. Inspecting these critiques permit prospects to find out the standard of service they’ll obtain.

On the time of this overview, the BBB has acquired three complaints about Nassau insurance coverage. These complaints embrace the corporate’s companies, billing, and supply.

Based on the NAIC, Nassau has acquired 5 complaints. Moreover, Nassau’s grievance index ratio is 0.79, indicating that the corporate has fewer complaints than the common firm of an analogous dimension.

How are you going to file Nassau Life Insurance coverage Firm claims?

Prospects that purchase Nassau Life Insurance coverage Firm insurance policies can file claims on-line or by cellphone. The simplest approach to file is on-line. Prospects can log into the web site and observe a three-step course of, which incorporates:

• Notifying Nassau in regards to the loss of life
• Sending Nassau the unique loss of life certificates
• Informing Nassau about any belief

Prospects that want to file a declare by cellphone can name the Nassau Life Insurance coverage Firm cellphone quantity at 1-877-815-8097. Representatives can help with claims Monday via Friday between 9 a.m. and 5 p.m. (EST).

How are you going to make Nassau Insurance coverage Firm funds?

Nassau permits prospects to make funds on-line or by cellphone. Prospects will pay on-line by accessing the web site’s buyer portal. From there, prospects can arrange a future fee schedule, permitting them to keep away from the accountability of maintaining with funds.

Moreover, prospects could make funds by calling 800-349-9267. Representatives can take fee data Monday via Friday from 9 a.m. to five p.m. (EST). Prospects could make funds by debit card or bank card.

How are you going to cancel a Nassau Life Insurance coverage Firm coverage?

Insurance coverage corporations often don’t permit prospects to cancel a coverage on-line, and Nassau isn’t any totally different. As a substitute, prospects can solely cancel a coverage by calling the corporate.

Relying on the coverage, a cancellation charge would possibly apply. Nonetheless, the corporate provides a 10-day free-look interval, throughout which prospects can cancel their coverage with out penalty.

Who’s the Nassau Insurance coverage Firm?

Enterprise and non secular leaders in Hartford, Connecticut, started the American Temperance Life Insurance coverage Firm in 1851. The aim was to supply life insurance coverage to locals who didn’t drink alcohol.

The corporate expanded to incorporate all residents in 1860, at which period they renamed it the Phoenix Mutual Life Insurance coverage Firm. Phoenix Life Insurance coverage remained till 2016 when the Nassau Monetary Group purchased it.

Nassau Life Insurance coverage Firm: The Backside Line

Nassau offers time period life and closing expense insurance coverage to prospects all through the USA. The corporate has aggressive charges however solely provides two riders. Moreover, the corporate has been rated a B+ by A.M. Greatest.

Understanding extra in regards to the Nassau Life Insurance coverage Firm will assist you to resolve if it’s best for you.

Now that you already know in regards to the Nassau Life Insurance coverage Firm, enter your ZIP code to get free life insurance coverage quotes in your space.