Expert Review, Term Insurance
by Richard Parkinson on Nov 12, 2021
4.5 out of 5 stars
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Assumption Life is one of the oldest Canadian Life Insurance companies originated in Massachusetts in 1903, and moved to Moncton, New Brunswick in 1913. Assumption Life is recognized as one of the best employers in the Atlantic provinces thanks to its exceptional work environment. In fact, the insurance company is listed in the 12th annual list of Atlantic Canada's Best Employers as compiled by the editors of the Canada's Top 100 Employers. Also, Assumption Life is one of only two Mutual insurance companies in Canada, i.e. owned by the policy holders rather than shareholders.
Term Life Insurance products from Assumption Life are a great choice for any Canadian based on a few particular aspects:
The only Term Life insurance aspects that consumers should pay attention to are:
As a life insurance broker, I also consider some different factors than a client would, e.g. insurance company's broker support, ease of use illustration software, simple application process, fairness and qualify of underwriting decisions and efficient and speedy decisions once an application is submitted. Based on that, I would rate Assumption Life as 4.5 out of 5.
Summarizing it all together: Assumption Life products represent a great option, if you are looking for an affordable Term life Insurance protection, especially for longer periods of time e.g. if you have young children or need to cover a long-term mortgage. Also, for the hard to insure, their Simplified Issue / Non-Medical Term plans are competitive and relatively easy to qualify for.
Review Authour: Richard Parkinson, Insurance and Annuities Broker
Knowledge: Richard has deep knowledge of products of 30+ Canadian life insurance companies and specializes across Life Insurance, Disability Insurance, Critical Illness Insurance, Long-Term Care Insurance, Annuities
Publications: Author of 13 articles published in Advocis FORUM Magazine, targeted for advisors and life insurance professionals.
Provinces served: AB, BC, ON, NB, NS, NL, PE, YT
Years of experience: Almost 20 years
Interested to talk to Richard? CONTACT RICHARD HERE >.