Sara Routhier, Managing Editor of Features and Outreach, 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 worl...

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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

  • North American is rated higher by A.M. Best, Fitch, S&P, and the Better Business Bureau
  • Accordia Life offers whole life insurance while North American has more indexed universal life options
  • Accordia Life offers more application options

Accordia Life and North American provide affordable life insurance to customers throughout the United States.

Comparing Accordia Life vs. North American will show that the latter is rated slightly higher, but both are considered financially stable by the most trusted life insurance rating agencies.

The policies offered by the two companies are similar, except that Accordia Life offers a whole life option. Accordia Life also makes it easier to apply for a policy as everything can be done through its website. However, North American does offer quick approval and has fewer complaints.

Interested in looking at quotes from companies besides Accordia Life and North American? Enter your ZIP code to find quotes from the top insurance companies in your area now for free.

Accordia Life vs. North American: What are their ratings?

Accordia Life and North American are both have high ratings from the most trusted life insurance rating agencies, A.M. Best, Fitch, and Standard and Poor’s (S&P).

These ratings provide insight into the financial stability of the company, which allows customers to determine the likelihood that they’ll receive a payout when they file a claim.

Accordia Life insurance has been rated an “A” by A.M. Best and Fitch. A.M. Best considers this rating “excellent,” while Fitch considers it an “upper-medium grade.” S&P gave the provider an “A-,” also considered an “upper-medium grade.”

North American life insurance fared slightly better in terms of ratings. It received an “A+” from all three rating agencies. This is at the top of the A.M. Best scale, considered “superior.” Fitch and S&P both put this rating as the top of the upper-medium level of their respective scales.

While North American received slightly higher ratings, both companies are considered stable enough to provide payouts regardless of the economic environment. This assures customers that they will receive their payout.

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Accordia Life vs. North American: Are there any complaints?

The Better Business Bureau (BBB) rates companies on their website based on their business practices and the number of complaints they receive. Customers can list their complaints on the BBB website, with each complaint staying on the company profile page for three years.

At the time of this comparison, Accordia Life insurance has received 46 complaints to the BBB. These complaints have primarily regarded Accordia’s services and billing. An additional complaint has been made regarding its advertising and sales.

North American insurance has received 16 complaints to the BBB. These complaints have primarily been about its products and services. The remaining complaints have been about billing and collections or delivery.

The BBB rated North American slightly higher than Accordia Life, giving it an “A+” rating. Accordia Life still received high marks from the organization, receiving an “A” rating.

Accordia Life vs. North American: What policies are offered?

Accordia Life and North American offer similar life insurance policies. The primary difference is that Accordia Life offers a whole life option, which North American life insurance lacks. This could be a differentiating factor if this is the type of insurance you’re looking for.

Accordia Life offers term life insurance in 10-, 15-, 20-, 25-, and 30-year terms.

Policies can be obtained for as low as $50,000, a lower amount than what most life insurance providers offer. This is a good option if you’re looking for less coverage or lower premiums. These term life offerings are available between the ages of 18 and 75.

The company also offers three different types of permanent life insurance: whole life, universal life, and indexed universal life.

The minimum amount of coverage is $100,000. The primary difference between these options is that whole life has fixed premiums, universal life has flexible premiums, and indexed universal life’s cash value can earn interest based on popular indexes.

The North American Company offers term life insurance in 10-, 15-, 20-, and 30-year terms. Labeled ADDvantage Term Life insurance, coverage starts at $100,000 and is available to applicants up to 74 years of age.

The provider offers two types of permanent life insurance coverage: universal life and indexed universal life.

Similar to Accordia Life, the universal life policy features a flexible premium while the indexed universal life’s cash value can acquire interest based on popular stock indexes.

North American’s indexed universal life insurance features several options. These policies include:

  • Builder IUL
  • Builder Plus IUL
  • Smart Builder IUL
  • Guarantee Builder IUL
  • Rapid Builder IUL
  • Legacy Optimizer
  • Survivorship GIUL

Now that we’ve looked at policy features, what about riders?

Accordia Life vs. North American: What riders are offered?

In addition to their basic policies, most life insurance providers offer options that can be added to a policy. Known as riders, these options allow for greater coverage. Accordia Life and North American offer a variety of riders that can be added to their various policies.

The most common type of rider is the accelerated death benefits rider. This allows a policyholder with a terminal illness to access a portion of their policy before death. Both of these providers offer this type of rider.

However, Accordia Life automatically includes it in universal life policies at no extra cost, while North American provides it as an option.

Accordia Life offers various riders that can be added on for an additional premium. These optional riders 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 North American include:

  • Disability waiver of a premium
  • Children’s insurance
  • Accidental death benefit
  • Guaranteed insurability
  • Waiver of monthly deductions
  • Premium guarantee

Though similar, the differences between these riders are important when you go to decide between the two insurers.

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Accordia Life vs. North American: How do you apply?

Accordia Life has an all-inclusive website that allows customers to purchase a policy, make policy changes, and make premium payments. This can either be done on its desktop website or the mobile-friendly website, allowing customers to access their accounts from anywhere.

To apply for a policy, North American customers must work with an agent. While you can connect with the agent through the website, the purchase will typically be done by phone. However, coverage can be obtained quickly, in as little as 48 to 72 hours.

Accordia Life vs. North American: History

The Accordia Life and Annuity Company is a subsidiary of Global Atlantic. Becoming an independent company in 2004, Global Atlantic purchased Aviva USA in 2013, renaming the provider and making it the company’s life insurance subsidiary.

Other types of insurance can be obtained through the various other Global Atlantic subsidiaries.

The North American Company for Life and Health Insurance was founded in 1886 as the North American Accident Association.

Today, North American is under the ownership of the Sammons Financial Group and its parent company, Sammons Enterprises. North American’s parent company is one of the largest private companies in the United States.

Accordia Life vs. North American: The Bottom Line

Comparing Accordia Life vs. North American will allow you to determine the right choice for your needs.

Both providers are financially stable so the decision will come down to the policy you desire. While their term life options are similar, Accordia Life offers whole life insurance. North American doesn’t offer whole life insurance but offers a variety of indexed universal life options instead.

Affordable Accordia life insurance quotes and affordable North American life insurance quotes are both attainable.

Now that you know more about Accordia Life vs. North American, enter your ZIP code to find the best life insurance rates in your area.

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Frequently Asked Questions: Accordia Life vs. North American

Below are some common questions about life insurance and these two life insurance companies.

#1 – What can life insurance do for me?

Life insurance can be used to replace income, pay off debts, and alleviate the burden of funeral expenses for dependents.

#2 – How does life insurance work?

Life insurance provides money, called a death benefit, to a beneficiary upon the death of the insured.

#3 – How does funeral insurance work?

Funeral insurance provides the necessary funds for a funeral, alleviating that burden on loved ones.