Accordia Life Insurance Review & Ratings (2024)

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UPDATED: Dec 21, 2023Fact Checked

Dani Best

Licensed Insurance Producer

Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

Licensed Insurance Producer

Jeff Root

Licensed Insurance Agent

Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...

Licensed Insurance Agent

UPDATED: Dec 21, 2023

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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

UPDATED: Dec 21, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Dec 21, 2023Fact Checked
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Accordia Life Insurance

Average monthly rate for healthy individuals:

N/A

A.M. Best rating:

A (Excellent)

Complaint level:

Low

Pros

  • Financial Strength: Accordia, with an A rating from A.M. Best, indicates strong financial stability, ensuring the company’s ability to fulfill its obligations.
  • Product Options: Offers indexed universal life insurance and preneed insurance, allowing for some degree of customization.
  • Accessibility: Provides various channels for claims filing and has a mobile app for policy management, enhancing customer convenience.

Cons

  • Complaints: The company has a high NAIC complaint index, indicating a higher number of complaints relative to its size, which may concern some customers.
  • Limited Offerings: While it offers specific life insurance products, its range might be limited compared to larger insurance providers.
  • Ownership Changes: The history of ownership changes might raise concerns about stability or changes in policy terms.

Final Verdict: Review of Accordia Life Insurance

The comprehensive guide on Accordia Life Insurance, now part of Global Atlantic, offers a detailed overview of its evolution, products, ratings, and customer service. Initially founded in 2004 as part of Goldman Sachs and rebranded multiple times, the company primarily focuses on indexed universal life insurance and preneed policies.

While boasting an A financial strength rating from A.M. Best, indicating strong financial stability, it faces challenges with a notably high NAIC complaint index, potentially concerning for some customers. The guide highlights Accordia’s commitment to customer convenience through various claims filing channels and a user-friendly mobile app.

However, the limited product range and concerns regarding frequent ownership changes could impact potential policyholders’ decision-making. Ultimately, the article emphasizes the importance of thorough research, direct inquiries, and comparisons before choosing Accordia Life Insurance or any insurance provider.

What You Should Know About Accordia Life Insurance

Welcome to our comprehensive guide on Accordia Life Insurance and everything you need to know to make informed decisions about your life insurance coverage. In this article, we will delve into the key topics related to Accordia Life Insurance, including its history, life insurance products offered, industry ratings, and more.

The Rundown

  • Accordia Life, now known as Global Atlantic, was founded in 2004 by Goldman Sachs.
  • The company offers multiple indexed universal life insurance policies, as well as preneed insurance.
  • While Accordia has good ratings from the BBB and A.M. Best, it has an extraordinarily high NAIC complaint index of 4.57.

We understand the importance of finding the right life insurance policy at the best possible rates. That’s why we encourage you to take action today and enter your zip code below to compare rates from the best insurance providers in your area. Don’t miss out on the opportunity to secure affordable and reliable life insurance coverage that meets your needs.

What is Accordia Life?

Accordia Life began was founded in 2004 as Goldman Sachs Reinsurance Group. In 2013, the company separated from Goldman Sachs and was renamed Global Atlantic Financial Group Limited. That same year, it acquired AVIVA USA and was renamed Accordia Life, then switched back to the name Global Atlantic in 2016.

The company has over $30 billion in assets, emphasizes leadership, and encourages its employees to become an important part of their communities.

Accordia Life Insurance Coverage Options

Accordia offers three different indexed universal life (IUL) insurance policies, as well as preneed insurance. Their IUL policies are known as Lifetime Foundation ELITE, Lifetime Builder ELITE, and Global Accumulator.

Indexed universal life insurance is a type of permanent life insurance that earns a cash value that you can borrow against while living that grows based on the interest rate of a major index, such as the S&P 500.

Many IUL policies have minimum and maximum interest rates. Accordia lets you choose between this type of policy and a fixed interest rate policy, which means they choose a set interest rate for your policy instead of having it follow an index.

Accordia’s three policies will also differ based on death benefit coverage amounts, maximum ages, loan options, interest crediting strategies, and more. This makes it easy to customize your policy to exactly what will benefit you the most.

Preneed insurance is a type of whole life insurance that has a funeral home of your choosing listed as the beneficiary. With this policy, you plan your funeral and burial to calculate the amount of your death benefit, and then your family doesn’t have to worry about anything at your passing.

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Accordia Life Insurance Rates Breakdown

Unfortunately, Accordia life insurance rates are not available on the company’s website. To give you an idea of what you might pay for an indexed universal life insurance policy, take a look at the chart below:

Indexed Universal Life Insurance Average Monthly Rates by Age and Gender
Age GroupAverage Monthly Indexed Universal Life Insurance Rates (Male) Average Monthly Indexed Universal Life Insurance Rates (Female)
25 - 35$96 - $122$71 - $96
35 - 45$122 - $171$96 - $148
45 - 55$171 - $303$148 - $238
55 - 65$303 - $491$238 - $445

You should keep in mind that your life insurance rates will depend on many factors including your age, gender, health, location, and more.

Accordia Life Insurance Discounts Available

Accordia Life Insurance, now under the Global Atlantic brand, might offer various discounts and incentives to policyholders. However, specific details about discounts, if available, may not always be readily accessible or standardized across insurance companies. Common discounts offered by life insurance providers may include:

  • Multi-policy Discount: If you have multiple insurance policies (e.g., auto, home, life) with the same company, you might qualify for a discount.
  • Good Health Discount: Some insurers offer discounts or lower rates for policyholders who maintain good health or commit to healthy lifestyle choices.
  • Non-smoker Discount: Non-smokers typically receive lower premiums compared to smokers.
  • Annual Payment Discount: Paying your annual premium in one lump sum might result in a discounted rate compared to paying monthly.
  • Safe Lifestyle Discount: Certain insurers offer discounts to individuals who engage in low-risk activities or have safer lifestyles.

Accordia Life Insurance or Global Atlantic might have specific eligibility criteria or unique discounts available, so it’s advisable to inquire directly with their agents or customer service representatives. They can provide precise information about any potential discounts you might qualify for based on your circumstances and the type of policy you’re considering.

Accordia Life Insurance Claims Process: Streamlined Filing and Efficient Resolutions

Ease of Filing a Claim (online, over the phone, mobile apps)

Accordia Life Insurance offers multiple channels for filing claims, providing customers with flexibility and convenience. Customers can file claims through various methods, including online submission, over the phone, and potentially through their mobile apps. This variety of options allows customers to choose the most suitable and efficient way to initiate their claims.

Average Claim Processing Time

Accordia Life Insurance prioritizes efficiency in their claims processing. While specific claim processing times can vary based on the nature and complexity of the claim, the company strives to expedite the process and ensure timely resolution. The average claim processing time typically meets industry standards, giving customers a reasonable expectation for when they can expect their claims to be processed.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a valuable indicator of a company’s claim resolution and payout performance. Accordia Life Insurance aims to provide satisfactory claim resolutions and payouts to its customers. Gathering customer feedback helps the company assess and enhance its claims process, ensuring that customers receive fair and timely settlements.

Accurate and prompt claim resolutions contribute to the overall satisfaction of Accordia’s policyholders.

Unlocking the Future: Accordia Life Insurance and its Digital & Technological Features

Mobile App Features and Functionality

Accordia Life Insurance offers a user-friendly mobile app, providing policyholders with convenient access to their insurance information and account management on the go. The app typically features functionalities such as policy details, premium payment options, claims status, and other relevant information. The design and functionality of the mobile app are geared towards enhancing the overall customer experience.

Online Account Management Capabilities

Accordia Life Insurance provides a robust online platform for policyholders to manage their accounts. Through the online portal, customers can access policy information, update personal details, make premium payments, view policy documents, and initiate claims.

The intuitive interface and comprehensive capabilities of the online account management system empower customers to conveniently handle their insurance-related activities.

Digital Tools and Resources

Accordia Life Insurance offers various digital tools and resources to assist policyholders in making informed decisions about their life insurance coverage. These tools may include premium calculators, coverage estimators, educational materials, and informative blog posts. By leveraging digital resources, the company helps customers better understand their insurance options and optimize their coverage to suit their needs.

How Accordia Life Insurance Ranks Among Providers

Accordia Life Insurance, which is now part of Global Atlantic, has garnered recognition in the insurance industry, but its ranking among providers can vary based on different criteria and perspectives. Here are some aspects where Accordia Life might be evaluated:

  • Financial Strength Ratings: Accordia Life Insurance has received a strong financial strength rating of A from A.M. Best. This rating indicates the company’s ability to meet its financial obligations, such as paying claims, which is a crucial factor in evaluating an insurance provider’s reliability.
  • Customer Satisfaction: The company’s ratings on platforms like the Better Business Bureau (BBB) and the NAIC Complaint Index are indicative of customer satisfaction and complaints. While it has an A- rating on BBB, it’s noteworthy that it has a higher-than-average complaint index, which might influence its ranking among providers in terms of customer service.
  • Product Offerings: Accordia Life offers indexed universal life insurance policies and preneed insurance. While their product range might not be as extensive as some larger insurers, their focus on indexed universal life insurance and preneed policies caters to specific needs.
  • Industry Recognition: Depending on the industry surveys or rankings, Accordia Life Insurance might receive recognition for its financial products, customer service, or innovation within the life insurance sector.
  • Market Presence: The company’s market share, growth, and reach within the insurance market also play a role in determining its ranking among providers.

Accordia’s ranking among insurance providers can fluctuate based on different evaluation metrics. It’s advisable for potential customers to consider multiple factors, including financial stability, customer reviews, product offerings, and personal needs, when assessing the company’s standing relative to other insurance providers.

Are Accordia Life ratings positive?

Global Atlantic life insurance is listed under one of their previous names (Forethought Life Insurance Company) on the BBB website. It has an A- rating, no customer complaints, and no reviews.

Accordia Life was given a financial strength rating of A from A.M. Best, meaning it has an excellent ability to meet its financial obligations, such as paying claims.

Accordia has a complaint index of 4.57 from the NAIC, which is extraordinarily higher than the national median of 1.00, meaning it gets significantly more complaints than other companies of a similar size.

How can I contact Accordia Life?

Accordia’s website is www.globalatlantic.com. Its life insurance customer service phone number is (877) 462-8992 and its preneed insurance customer service phone number is (800) 331-8853.

Accordia has multiple physical locations that you can visit, but its headquarters are located at One Forethought Center, Batesville, IN 47006.

The mailing address for life insurance and preneed customers is Global Atlantic, Davis Brown Tower, 215 10th Street, 11th Floor, Des Moines, IA 50309.

Should I buy Accordia life insurance?

Accordia Life seems to offer a small choice of life insurance policies. While this limits the type of life insurance you’d be able to choose, the available options make it easy to customize the indexed universal life insurance policies.

Accordia also has good ratings from the BBB and A.M. Best. However, the company has a very high number of customer complaints, indicated by its 4.57 NAIC complaint index.

Some are also concerned about the numerous changes in branding and ownership, which changed once again in 2020.

Ultimately, we always recommend doing as much research as possible before choosing a life insurance company. If you need help comparing life insurance quotes, enter your ZIP code into our free quote comparison tool below.

Frequently Asked Questions

What is Accordia Life Insurance?

Accordia Life Insurance is an insurance company that offers life insurance and annuity products.

What is the financial rating of Accordia Life Insurance?

Accordia Life Insurance has a financial strength rating of “B++” (Good) from A.M. Best, which is a rating agency that evaluates insurance companies’ financial stability and ability to pay claims.

What is the customer satisfaction rating for Accordia Life Insurance?

Accordia Life Insurance does not have a customer satisfaction rating on the Better Business Bureau (BBB) website.

What types of life insurance does Accordia Life Insurance offer?

Accordia Life Insurance offers a variety of life insurance coverage options, including term life insurance, whole life insurance, and universal life insurance.

Can I get a quote from Accordia Life Insurance online?

Yes, you can get a free quote from Accordia Life Insurance by visiting their website and entering your information.

How do I apply for life insurance with Accordia Life Insurance?

You can apply for life insurance with Accordia Life Insurance by visiting their website and filling out an application online, or by contacting an agent directly.

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Dani Best

Licensed Insurance Producer

Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

Licensed Insurance Producer

Jeff Root

Licensed Insurance Agent

Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

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