Fortis Life Insurance Company Review 2019
Life insurance companies often go through a period of transitions, acquisitions or mergers. This is right along the lines of the storyline you will find about Fortis Life Insurance. Fortis Life Insurance started as a company of their own.
Although we don’t specifically have anything bad to say about Fortis Life Insurance, Assurant Life Insurance or American Memorial, we would not consider any of these companies as one of our top ten companies to choose from when searching for your life insurance coverage.
Too many better options are available. Especially when you utilize an independent life insurance agent and agency to secure your life insurance for you. It’s all about choices and finding the best possible fit for your needs, budget, and families protection. Period.
A Brief Look Back into History About Fortis Life Insurance Company
In 2001, Fortis Life Insurance company offered up 200 million dollars in cash to acquire American Memorial Life, which was a popular pre-paid funeral arrangement service.
Only a few short years after this purchase, Fortis Life began its transition into becoming Assurant Life Insurance, which was completed in 2004.
Assurant Life Announces Its Initial Public Offering
As stated before, Fortis Life began making its transition to become Assurant Life Insurance. In 2004, the initial public offering was announced for Assurant Life Insurance and individuals were now allowed to start purchasing stock on the New York Stock Exchange.
Currently, Assurant Life Insurance offers various lines of financial products and insurance products. Assurant is known for providing creditor place homeowners insurance, debt protection, credit protection, and insurance products.
Insurance Products Offered by Assurant Life (Formerly Fortis Life Insurance)
As of today, Assurant Life Insurance offers various products in the insurance industry. Currently, Assurant is offering the following insurance products.
• Individual Health Insurance
• Employer Group Health Insurance
• Group Dental Insurance
• Disability Insurance
• Group Life Insurance
• Pre-Funded Funeral Insurance
Assurant Life Financial Outlook
Currently, Assurant Life is considered a Fortune 500 company. Assurant is headquartered in New York City. Assurant now has over 1 million active policyholders in all 50 states in the U.S.
You may eventually run into some of the other names or subsidiaries that Assurant Life currently does business as that may include the following.
• Assurant Employee Benefits
• Assurant Health
• Assurant Solutions
• Assurant Specialty Property
Assurant Offers Specialized Insurance Products
Assurant Life Insurance doesn’t offer the same form of life insurance you may have been initially looking to purchase when you ended up on your journey of shopping various companies online. Right now, Assurant is more known for employee benefits such as group term life insurance products.
This simply means that this would be a program you would volunteer to participate in through your work, and often, the deductions would be taken directly from your paycheck. This isn’t the same as having an outside or private life insurance policy through a different life insurance company.
Never Rely on Only Work Sponsored or Group Life Insurance Plans
Pro Tip- While group life insurance plans are not necessarily a bad thing to participate in, nothing beats having your own private policy outside of your employer. Having work sponsored group plans don’t leave you in control of the situation.
Your employer may decide to no longer participate in the program, and they also have no obligation to offer you coverage after leaving your employer or deciding to retire.
This can be dangerous due to only having coverage through your employer in case future health conditions arise, and it becomes difficult to be approved for a policy outside of your work.
Ultimately, this can land you in a situation where you can’t secure any coverage, and your family may be in a state of financial ruin if something does god forbid ever happen to you. Always be sure to protect your family with a separate policy when possible and when affordable.
In fact, you can begin this process by filling out the instant quote form on this page. This will allow you to compare rates with dozens of the top-rated life insurance companies in the industry.
Assurant Life Doesn’t Have the Products You Are Likely Looking For
Although Assurance is a company that’s alive in kicking in the insurance industry, they likely don’t have what you may be searching for. Most consumers shopping online are often looking for low prices and the best coverage they can find on private plans. Not work or employee benefits.
If you are looking for just that (private life insurance plans), we recommend you begin by filling out the instant quote form to start looking at other life insurance options that may fit your needs and budget.
How Do You Contact Assurant Life (Formerly Fortis Life)?
In case you have an old group policy or another form of coverage with Fortis Life or Assurant Life, you can use the company contact information below to help get in touch with them.
Fortis Life (Assurant Life)
One Chase Manhattan Plaza
New York City, New York 10005
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