Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Mar 4, 2021

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The Brief

  • Accordia Life application and approval process can be completed online
  • Lincoln offers variable universal life and Accordia Life offers whole life insurance
  • Lincoln is rated higher than Accordia Life

Accordia Life and Lincoln are highly-rated insurance providers, offering affordable life insurance to customers throughout the United States.

When comparing Accordia Life vs. Lincoln life insurance, you’ll find that the latter is rated higher by the major insurance rating agencies. Both providers offer a wide range of term life and permanent life options.

The primary difference between Accordia Life vs. Lincoln is that Lincoln offers variable universal life insurance, while Accordia Life offers whole life coverage. Additionally, Accordia Life offers a much easier application process, with the ability to apply and receive approval online.

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Accordia Life vs. Lincoln: How do their ratings compare?

Accordia Life and Lincoln have been rated by the most trusted insurance rating agencies. This includes A.M. Best, Fitch, Moody’s, and Standard and Poor’s (S&P).

These ratings judge each company’s financial strength, determining how likely they are to be able to provide a payout when a claim is filed.

Accordia Life insurance has received an “A” from A.M. Best, Fitch, and the Better Business Bureau. Moody’s gave the company an “A3” and S&P rated their financial strength an “A-.” These are all considered strong ratings but not at the top of each agency’s rating scale.

The Lincoln National Life Insurance Company was rated an “A+” by A.M. Best and Fitch, nearly the highest possible rating from these agencies. Moody’s gave the provider an “A1” and S&P rated them an “AA-.” These are strong ratings but not at the top of these individual rating scales.

As you can see from the ratings, Lincoln is rated a little higher than Accordia Life. However, both are rated highly enough that the financial strength shouldn’t be a concern for either provider.

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Accordia Life vs. Lincoln: Do they have any complaints?

A good way of determining the quality of service you’ll receive is by reading the complaints of current or previous customers.

The Better Business Bureau reviews various life insurance providers and allows customers to list complaints. These complaints can be viewed on the Better Business Bureau website.

At the time of this comparison, Accordia Life has received 46 complaints over the past three years to the Better Business Bureau. These complaints have primarily regarded their products and services or billing and collections. The other complaint was about the company’s advertising and sales.

Lincoln National Life Insurance hasn’t been rated by the Better Business Bureau nor received any complaints.

However, the Lincoln Financial Group has received 65 complaints. As the parent company, this can help to determine any problems that might arise when you use their life insurance services.

Accordia Life vs. Lincoln: What policies do they offer?

Accordia Life and Lincoln offer similar life insurance policies. Both offer term life, universal life, and indexed universal life options. The difference between the two is that Accordia Life offers whole life insurance and Lincoln offers variable life insurance policies.

Accordia Life offers term life policies that are available in 10, 15, 20, 25, and 30-year terms. Coverage can be obtained at as low as $50,000. This is a lower amount than most life insurance providers offer. If you’re looking for less coverage or lower premiums, this could be a determining factor.

In permanent life coverage, Accordia Life offers whole life, universal life, and indexed universal life policies. These policies cover the remainder of the policyholder’s life.

Whole life has fixed premiums, universal life has flexible premiums, and indexed universal life comes with a cash value that can earn interest based on the stock market index.

Lincoln life insurance has term life plans available in 5, 10, 15, 20, and 30-year terms. These policies feature a fixed premium, guaranteeing that it won’t change for the entirety of the term. Coverages range from $100,000 to $1 million and are available for those between 18 and 60 years of age.

In addition to term life, Lincoln offers universal life, indexed universal life, and variable universal life permanent options.

The policy not offered by Accordia Life is variable universal life, which allows the policyholder to invest their cash value. These coverages are available starting at $100,000 and for those between 20 and 85 years of age.

When searching for Lincoln insurance products, you might come across the Lincoln Heritage Life Insurance Company, which offers final expense insurance. This company is not affiliated with the Lincoln Financial Group or the Lincoln National Life Insurance Company.

Accordia Life vs. Lincoln: What riders do they offer?

Riders are options that can be added to a life insurance policy. This allows policyholders to customize their policy and ensure it covers everything they desire. Some riders are automatically included at no cost, while others are options and require an additional premium.

Both of these providers include an accelerated death benefits rider free of charge for their permanent life policies. This allows those suffering from a terminal illness to access the money in their policy before death. This rider can also be added to a term life policy for an additional premium.

Several optional riders can be added to any policy for an additional premium. Optional riders offered by Accordia Life include:

  • Primary insured
  • Additional insured
  • Guaranteed purchase options
  • Children’s insurance
  • Accidental death benefit
  • Waiver of monthly deduction
  • Waiver of a specified premium

Optional riders offered by Lincoln include a waiver of premium and children’s level-term insurance.

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Accordia Life vs. Lincoln: How do you apply?

Accordia Life makes it easy for potential customers to apply and receive approval for coverage. You can apply and receive approval online or by phone. The provider’s mobile-friendly website allows you to access information, make changes, or make payments from anywhere on your mobile device.

A disadvantage of Lincoln is that they don’t provide quotes or allow customers to apply online. You must call an agent to receive a quote or apply for coverage. A phone interview with questions about your health and lifestyle is required for all applications. Certain applicants might also require a medical exam.

Accordia Life vs. Lincoln: History

Accordia Life and Annuity Company was originally named Aviva USA until it was acquired by Global Atlantic in 2013. At that point, the provider became the life insurance subsidiary of its new parent company. Global Atlantic has other subsidiaries that offer various types of insurance.

Lincoln National Life Insurance is a subsidiary of the Lincoln Financial Group, founded in 1905. Headquartered in Radnor, PA, the company has been on the Fortune 500 list for the past 25 years.

Lincoln Financial Group features four sections, offering life insurance, annuities, group protection, and retirement plan services.

Accordia Life vs. Lincoln: The Bottom Line

Accordia Life and Lincoln offer similar products, with only small differences in their permanent life insurance options. While Lincoln is rated slightly higher, both are rated high enough for it not to be a concern.

When comparing Accordia Life vs. Lincoln, the decision comes down to your desired coverage and your comfortability with Lincoln’s application process.

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Frequently Asked Questions

Here are the answers to some frequently asked questions.

#1 – What does life insurance cover?

Life insurance is designed to cover loss of income, end-of-life expenses, funeral costs, and other financial needs survivors might have after the passing of the head of the household.

#2 – How are premiums paid?

Premiums are paid as spelled out in the policy. This could be a lump sum, an annual or semi-annual payment, or a monthly payment. The amount will depend on the total coverage of the policy.

#3 – What impacts the cost of insurance?

The cost of your insurance depends on several factors, including your health, age, and other risk factors. Relatively young non-smokers will typically receive the best rates.