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 Leslie Kasperowicz

UPDATED: Mar 5, 2021

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The Brief

  • Phoenix Life is now called Nassau Re
  • Accordia Life has higher ratings than  Nassau Re from the most trusted insurance rating agencies
  • Accordia Life has more permanent life options available, but not as many term life insurance options
  •  Nassau Re has lower minimum rates and more term life insurance options available, but a limited number of permanent life options

Accordia Life and Phoenix Life are two popular insurance companies, and this guide will give you more insight into each of them. Phoenix Life, however, is now called Nassau Re, and will be referred to as such throughout the article.

Both Accordia Life and Nassau Re offer term life and permanent life insurance options to customers. Accordia Life offers more permanent life insurance options, but Nassau Re offers more term life options and a lower starting rate.

Comparing Accordia Life vs. Nassau Re will help you determine which company has the best policy for you.

Want to look at companies besides Accordia Life and Nassau Re? Enter your ZIP code to find the best life insurance quotes from top companies in your area.

Accordia Life vs. Nassau Re: What are the term insurance rates?

For many, a determining factor when comparing Accordia Life vs. Nassau Re will be the monthly rates. The rate chart below will show monthly Accordia life insurance quotes and Phoenix life insurance quotes.

Accordia Life vs. Phoenix Life: Male 20-Year Term $250,000 Policy Monthly Rates by Age
Age (Male)Accordia Life Average Monthly RatesPhoenix Life Average Monthly Rates
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The next table shows similar rates for females.

Accordia Life vs. Phoenix Life: Female 20-Year Term $250,000 Policy Monthly Rates by Age
Age (Female)Accordia Life Average Monthly RatesPhoenix Life Average Monthly Rates
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These tables show that males will typically pay more than females and that Accordia Life is cheaper.

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Accordia Life vs. Nassau Re: What are their ratings?

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

These ratings determine the financial stability of the companies, informing customers of the likelihood that they can handle a payout when a claim is filed.

Accordia Life insurance has been rated highly by each of the rating agencies.

It received an “A” from both A.M. Best and Fitch. A.M. Best labels this rating as “excellent,” while Fitch describes this grade as “upper-medium.” The company received a rating of “A-” from S&P, also considered an upper-medium grade by the agency.

Nassau Re hasn’t fared as well when being rated.

A.M. Best gave the company a “B+.” This rating says that the company has a good, but not excellent, ability to meet financial requirements. Fitch gave the insurance provider a “BB+” and S&P gave it a “BB.” These are both lower grades of the scale of these companies, considered speculative.

These ratings show that Accordia Life is in a much better position financially to provide payouts.

Accordia Life vs. Nassau Re: Are there any complaints?

The Better Business Bureau (BBB) rates companies based on their business practices and complaint history. Customers can list complaints with the BBB on their website. These complaints will remain on the Better Business Bureau website for three years.

At the time of this comparison, Accordia Life has received 46 complaints over the past three years. These complaints have primarily been about the company’s products and services, or billing and collections.

However, the BBB did give the company an “A” grade, the second-highest a company can be rated.

Nassau Re hasn’t been rated by the BBB, nor has it received any complaints. Its parent company, Nassau Reinsurance Group, hasn’t received any complaints either but has been rated an “A+” by the BBB.

Accordia Life vs. Nassau Re: What policies are offered?

Accordia Life and Nassau Re both offer term life and permanent life options. Nassau Re offers more term life options but is limited in the number of permanent life policies. Accordia Life has a wider variety of permanent life policies that can be obtained.

The term life policies offered by Accordia Life are available in 10-, 15-, 20-, 25-, and 30-year terms. These policies start at $50,000, a lower amount than most competitors. Those looking to purchase this type of life insurance must be between 18 and 75 years old.

In addition to term life, Accordia Life offers a wide variety of permanent life policies. This includes whole life, universal life, and indexed universal life insurance. These policies cover the policyholder for the entirety of their life.

The primary difference is the whole life insurance cost for premiums and the universal insurance cost for premiums. Whole life coverage features fixed premiums for the life of the policy.

Universal life has flexible premiums and indexed universal life’s premiums depend on popular stock indexes.

Nassau Re has two types of term life insurance options. Known as Nassau Safe Harbor Term, customers can either obtain express or non-express insurance.

The express option starts at $25,000 while the non-express starts at $50,000 and is available in 10-, 15-, 20-, and 30-year terms.

The company also offers a whole life option, better described as final expense insurance. Referred to as Remembrance Life, customers obtaining this type of insurance must be between 50 and 80 years of age, and coverage ranges from $10,000 to $50,000.

This type of insurance is designed to help with the policyholder’s final expenses, such as a funeral.

Nassau Re used to offer universal life coverage but got rid of it in 2017 when its parent company acquired Foresters Life Insurance, which has a greater number of permanent life insurance options.

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Accordia Life vs. Nassau Re: What riders are offered?

Most life insurance companies provide options, known as riders, that can be added to a policy. Some rides are included with certain policies free of charge while optional riders require an additional premium.

Accordia Life includes an accelerated death benefits rider with its universal life policies. This rider allows a policyholder suffering from a chronic, critical, or terminal illness to access a portion of their life insurance policy before death.

In addition to the accelerated benefits rider, Accordia Life offers various optional riders. These include:

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

Nassau Re offers the accelerated death benefits rider and an unemployment rider. These riders are included with some, but not all, of the company’s policies.

If the riders are not included, they can be added to a policy for an additional premium.

Accordia Life vs. Nassau Re: What is the good and bad?

Accordia Life offers a wide range of affordable life insurance options and is rated highly by the top rating agencies. However, it has more complaints than most companies of a similar size.

The primary advantage of Nassau Re is its low minimum rates and term life options. Disadvantages include low ratings and a lack of permanent life insurance options.

Accordia Life vs. Nassau Re: How to Apply

Accordia Life and Nassau Re allow customers to apply for coverage online. This can be done on their desktop website or their mobile-friendly website, allowing customers to apply and access information from anywhere.

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Accordia Life vs. Nassau Re: History

Originally named Aviva USA, Accordia Life and Annuity Company became a subsidiary of the Global Atlantic Financial Group when it was acquired in 2013.

Once acquired, the company became the life insurance provider for the larger organization. Global Atlantic has other subsidiaries that provide other types of insurance as well.

The Phoenix Life Insurance Company was founded in 1851 as Phoenix Companies, Inc. In 2015, it was purchased by the Nassau Reinsurance Group, becoming its life insurance provider. Based out of Hartford, CT, the company is relatively small, with around 650 employees.

Accordia Life vs. Nassau Re: The Bottom Line

Accordia Life has better ratings and more life insurance options than Nassau Re. However, the latter’s parent company has other subsidiaries that offer more life insurance options.

Nassau Re does offer good options for lower-income families. Comparing Accordia Life vs. Nassau Re will help you determine which one is best for your needs.

Finding both affordable Nassau Re life insurance rates and affordable Accordia life insurance rates is possible.

Now that you know more about Accordia Life vs. Nassau Re, enter your ZIP code for the top life insurance rates in your area from the top companies.

Frequently Asked Questions: Accordia Life vs. Nassau Re: Best Life Insurance for 2021

Below are some common questions about insurance.

#1 – Do the companies have mobile apps available for download?

Neither of these companies currently have mobile applications. However, mobile access is available through their mobile-friendly websites.

#2 – Can I buy other types of insurance?

Accordia Life and Nassau Re are subsidiaries of larger organizations that offer various other types of insurance.

#3 – Is a medical exam required for approval?

You don’t need a medical exam to apply or receive approval for all policies. However, some policies might require a medical exam.