Sagicor Life Insurance Review – An Insider’s Guide

sagicor-logoNeed life insurance in a hurry?

No time for a medical exam?

Do you hate needles?

If you answered “YES” to any of these questions, I strongly urge you to take a look at our Sagicor Life Insurance review and consider securing a policy with the Sagicor Life Insurance Company.

Quick Article Guide

  1. Company Profile
  2. Pricing
  3. No-Medical Exam Policies
  4. Application Approval Time
  5. Downside
  6. Life Insurance Quotes
  7. Claims

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Who Is Sagicor Life?

Sagicor Life USA started as Sagicor Financial Corporation in 1840 and has grown to include insurance and annuity products in over 22 countries including the United Kingdom.

Sagicor is a publicly traded company and has over $5.78 billion in assets as of September, 2013. In the United States, they offer non-medical life insurance policies in 45 states, including the District of Columbia.

How Do Sagicor’s Prices Compare?

How competitive are Sagicor’s rates compared to other non-medical exam options?

Our insider’s guide to Sagicor Life Insurance reveals that Sagicor’s prices consistently come in first in almost every scenario. For example, take a 50 year old male looking for a 250k / 10-year term life policy.

Comparative rates appear below:


CompanyProductMonthly Rate
SAGICORSage Term – Simplified (preferred non tobacco)$49.07
ASSURITYNon-Med Term 350  (Select Plus NT)$83.60
ASSURITYNon-Med Term 350 (Select NT)$142.34



CompanyProductMonthly Rate
SAGICORSage Term – Simplified (Standard non tobacco)$71.77
AMERICAN NATIONALAnico Signature Term (Standard Nicotine non-user)$106.25
FIDELITYRapid Decision Plus (Standard Non-Nicotine)$107.01
ASSURITYNon-Med Term 350 (Standard NT)$190.30


In the above example, if the man qualifies at the preferred rate class he would receive a 41% savings with Sagicor over Assurity (the next best quote). Even at the standard rate class, he would save 32% over American National.

Who Can Purchase A Non-Medical Policy From Sagicor?

Sagicor offers their non-medical exam policies to men and women ages 18 to 65.

They offer term lifeguaranteed universal life, and (as of Dec. 2018) indexed universal life options.

Term life policies are available from $50,000 up to $399,000 without a medical exam.

Guaranteed Universal Life policies are available from $25,000 up to $249,000.

Indexed Universal Life policies are available from $100,000 up to $1,000,000.

They have three non-tobacco underwriting rate classes – preferred, standard and rated.

The company also has two tobacco classes – standard tobacco and rated tobacco.

This is great news for many people who don’t fit into the “standard” rate classes due various medical conditions, including being overweight or diagnosed with Type 2 diabetes.

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How is Sagicor’s service?

How quickly do they approve a policy?

In a hurry?

The majority of my Sagicor applications are approved within minutes.

Our insider’s guide to Sagicor Life Insurance shows that their underwriting is at light speed compared to the majority of non-medical options available today. Everything is automated!

Underwriting consists of three main variables:

1. Prescription check (Rx) – They will determine the prescription medications that have been prescribed for you over the past five years. Those with no medication history have a good chance at preferred rates, while those who take medication for things like blood pressure, anxiety or depression can expect standard rates.

2. Motor Vehicle Report (MVR) – Underwriting will review your driving history for the past five years. Any DUI’s during this time will cause your application to be automatically declined. With two or fewer moving violations within 12 months, you can still qualify for a preferred rate class.

I am often asked:

“what does my driving record have to do with life insurance?”

Well…nothing, specifically. But insurance companies feel that being a reckless driver increases the chances that someone will die tragically in an auto-accident, increasing the risk that death proceeds payout would be likely.

3. Medical Information Bureau (MIB) – This group maintains a medical database for life insurance companies to prevent insurance fraud.  If you have previously been declined for insurance or tested positive for nicotine with another company, this data will be on record here.

As long as you haven’t been declined before or have multiple, recent life insurance applications you should be able to receive an approval.

However, not all policies will qualify for automated underwriting.

I’ve had many cases that have been referred to an actual human underwriter. This isn’t exactly bad news. It just means the approval may take a few extra days.

I usually tell my clients the approval will take anywhere from two minutes up to five days, which is true for most cases. If an application is instantly declined, it’s normally decided due to one of the three variables discussed above.

This usually only happens when the applicant purposely fails to disclose something in their health or lifestyle history, hoping it won’t be discovered.  If it does take longer, don’t worry.

Chances are, they may just need a human to interpret some data or explanation the computer could not.

The application process is 100% electronic. Agents complete the life insurance application by telephone and afterwards email it to the applicant for their electronic signature.

Once they’ve E-signed, the agent is notified and submits the application to Sagicor to begin the automated underwriting process. If all goes well, the policy could be inforce (active) within 48 hours.

It’s really that simple!

Are There Any Downsides to Purchasing A Non-Medical Policy?

Yes, although a non-medical policy is the most convenient option, a policy that does not require a medical exam is more expensive than a policy that requires a medical exam.

Medical vs. Non-Medical Pricing

Sagicor’s prices for a non-medical policy are some of the most aggressive prices in the industry.

However, anytime you purchase a life insurance policy that does not require a medical exam, the risk for the life insurance company is higher, so the rates are slightly more expensive.

This is due to the fact that the life insurance company cannot evaluate your cholesterol, height/weight, blood pressure, use of tobacco, etc. like they would  if you were to complete a medical exam.

Below are some sample rates for a 40, 50, and 60 year old male in good “preferred” health to provide a comparison to a life insurance policy from an A-rated company with and without a medical exam.

Sagicor Life Insurance Quote

With Medical Exam

40 Year Old Male $250,000 of coverage / monthly cost50 Year Old Male $250,000 of coverage / monthly cost60 Year Old Male $250,000 of coverage / monthly cost
10 year level premium: $15.2110 year level premium: $31.2810 year level premium: $71.97
15 year level premium: $18.5115 year level premium: $40.6415 year level premium: $100.41
20 year level premium: $23.1020 year level premium: $50.7420 year level premium: $131.03

Sagicor’s Sample Rates as of 03/14/2015, No Medical Exam

40 Year Old Male $250,000 of coverage / monthly cost50 Year Old Male $250,000 of coverage / monthly cost60 Year Old Male $250,000 of coverage / monthly cost
10 year level premium: $25.7010 year level premium: $49.0710 year level premium: $126.06
15 year level premium: $31.0615 year level premium: $64.8815 year level premium: $178.79
20 year level premium: $38.4520 year level premium: $85.6820 year level premium: $202.20

If your goal is to secure your life insurance as inexpensively as possible, a life insurance policy with a free medical exam is almost always the least expensive option available.   For some of our clients; however, this simply isn’t an option

To try to make the application process as easy as possible for our clients that do decide to complete the free medical exam, our examiners are usually available from 8am to 8pm Monday through Saturday.

Does Sagicor Pay Its Claims?

When it comes to shopping life insurance rates, you simply want the best price from a highly-rated insurance company that will be around when it comes time to pay the death claim.

Our insider guide to Sagicor life insurance reveals that Sagicor Life is owned by Sagicor Financial which was founded in 1840 making it one of the oldest companies offering life insurance in the U.S. today.

Sagicor Financial has approximately 5.5 billion in assets and been in business for over 170 years. Sagicor is rated A- (Excellent) by A.M Best as of March 2015, and has never failed to pay a valid claim.

What Makes a Claim Valid or Invalid?

A valid claim is a claim where there is no fraud or foul-play suspected.

What is foul-play?

If a criminal investigation was conducted into the death of the insured person, and you are not found to be guilty of ending that person’s life, the life insurance company will pay the balance of the claim.

Fraud may also be suspected if the insurance company finds out that you were diagnosed with a terminal illness prior to your application and you did not disclose it. An example of a terminal illness is advanced stage cancer, HIV, or heart disease.

For an accurate quote, please call JRC today! One of our expert, caring agents is standing by to help 855-247-9555.

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Jason Dana

Managing Partner at JRC Insurance Group
Jason offers more than a decade of life insurance experience to JRC where he is a co-founder and managing partner. He specializes with helping clients who are considered a “high risk" for life insurance by finding the most affordable options for coverage available to them. Outside of work, Jason enjoys surfing, traveling, and spending time with friends and family.
6 comments… add one
  • Karen mcinnis January 18, 2016, 7:20 pm

    Why do I have to buy a copy of my life insurance policy? This makes no sense. I’m paying for my policy, surely I’m due a copy of my policy!

    • Randy McClintick January 29, 2016, 3:33 pm


      Most companies will reissue a lost insurance policy, however, many are beginning to convert to emailing them allowing you to print and/or share with appropriate family members.

  • Scott Dixon August 15, 2016, 10:55 pm

    Where can I find out about my American Founders Life insurance policy

    • Randy McClintick August 22, 2016, 9:02 am


      Best place to start is by contacting your state’s insurance commission. For instance, if you purchased your insurance in Georgia, you can Google “Georgia state insurance commission” and they’re will be a information and phone number to call for many services including lost policies if you’re having trouble reaching the insurance company directly.

  • Rachel July 8, 2017, 8:30 pm

    I am 63 years old woman in good health; I was approved for a “with exam” $300.000 by Protective life insurance but with a higher rate $250/month.

    The application is pending my acceptance.
    Can I still apply with Sagicor ? Would the premium be lower ?

    • Randy McClintick July 17, 2017, 11:07 am


      Thank you for your question and visting JRC’s life insurance website.

      We work closely with Protective Life’s underwriters, and they are a very good insurer. That being said, there may be another equally rated company which may be a better personal fit for you. Call JRC at (855) 247-9555 and we’ll discuss what, if anything, affected your mortality risk assessment (“risk class”) with Protective, and can tell if another carrier may look at those factors more favorably. We generally recommend putting an approved policy in force. If we determine another carrier could offer a lower rate, and we can get it approve for you, you can cancel your Protective policy with no obligation if it’s a term policy or “Guaranteed Universal Life” policy. If cancelled within first 30 days, Protective would return that premium.

      JRC Life Insurance: (855) 247-9555

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