Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Feb 19, 2021

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Company Details
Address: 215 10th Street 11th Floor
City: Des Moines
State: Iowa
ZIP Code: 50309
Phone Number: 512-451-2224
Year Founded: 2004
AM Best Rating: A
Company Rating 0 (0 reviews)

Are you looking for a life insurance policy that works for you? Accordia Life may be able to provide a policy that’s ideal for you.

Accordia Life and Annuity Company is the provider of life insurance policies to Global Atlantic Financial Group.

This larger group provides a plethora of financial services, with Accordia Life specializing in indexed universal life (IUL) insurance policies.

In this article, we do a deep-dive on Accordia Life insurance. We break down its available policies, available riders, and other benefits. Keep reading to find out if Accordia Life is for you.

Wanting to look at other life insurance companies in your area? Enter your ZIP code above and find the best rates near you.

What is an IUL policy?

An IUL policy (Indexed Universal Life Insurance) is very similar to a traditional universal life insurance policy. The main difference is that it allows you to tie some or all of your cash value to a market index.

Now, it’s important to note you are not actually investing the money into the stock market. Instead, the index you choose to link your policy to will be used as a measuring tool for growth.

The index gains are then applied to the interest rate on the account. If the index shows gains, you will have the chance to earn extra money for the cash value portion of your policy.

An additional benefit associated with IUL policies is that they have a tax-free death benefit.

A tax-free death benefit is an added source of peace of mind for policyholders. It ensures that their beneficiaries will not get any unfortunate tax surprises after receiving a death benefit.

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What life insurance policies does Accordia Life offer?

Accordia Life offers three IUL policies, the Lifetime Foundation ELITE, Lifetime Builder ELITE, and the Global Accumulator.  Each Accordia life insurance policy is designed with a different customer in mind.

Accordia Lifetime Foundation ELITE Life Insurance

If you are looking for the basics, with the option of earning money on your policy, the Lifetime Foundation Elite is the ideal policy for you.

This policy offers seven interest crediting options, giving you flexibility at an affordable price.

The policy offers a long-term death benefit, up to the age of 121. The death benefit of this policy is income-tax-free, giving additional protection to beneficiaries.

The Lifetime Foundation ELITE is a great policy for those who don’t want to deal with higher premiums but want to earn more money for their policy.

Accordia Lifetime Builder ELITE Life Insurance

If you are looking for a policy that will allow you to accumulate more cash while still providing the basic policy benefits of the Foundation policy, the Lifetime Builder ELITE is for you.

This policy has the option to grow your cash value higher than other fixed-interest policies.

Like the Lifetime foundation plan, this policy offers an income-tax-free death benefit and allows you to access your cash value during your lifetime.

The Lifetime Builder ELITE also gives you three choices for your death benefit.

  • The level benefit: The amount of the death benefit will not change from beginning the policy to cashing it.
  • The increasing benefit Includes the account value as well as the starting amount.
  • The return of premium option: Adds the premiums paid with interest on top of the starting value.

The Lifetime Builder policy is great for those who are eager to increase their policy’s cash value and want more options for their death benefit to ensure it is right for their family.

Accordia Global Accumulator Life Insurance

Are you looking for an incredibly flexible policy that gives you more options? Then the Global Accumulator policy is for you.

This IUL policy features six different interest options for your policy, with two SMART buy-up options.

These SMART features are designed to allow you to make the most of your cash value in your life insurance policy.

  • The SMART Buy-Up Secure option is designed as an add-on to the account value. This becomes available at the beginning of the sixth year of holding the policy for an additional fee.
  • The SMART Buy Up Performance option adds additional account value and is available when your account is set to exceed the earning cap placed on all interest credits. This option also requires an additional charge deducted from the account.

Like the other policies, the Global Accumulator policy offers an income-tax-free death benefit.

With so many options designed to allow you to accumulate more cash value for your policy, the Global Accumulator account is ideal for those willing to pay more to earn more from their life insurance.

Accordia Term Life Insurance Rates

In addition to IUL insurance, Accorida also offers term life insurance policies.

How do Accordia term life insurance rates compare to competitors?

You can see from the sample monthly life insurance rates below how Accordia stacks up to other companies offering term life insurance.

Term Life Insurance Average Monthly Rates (Male, 20-Year Term, $250,000 Policy)
 CompanyAge 30 Average Monthly RatesAge 40 Average Monthly RatesAge 50 Average Monthly RatesAge 60 Average Monthly Rates
 Accordia Life $16.91 $23.36 $56.07 $153.53
 AIG $13.54 $19.38 $42.73 $114.74
 Banner $13.33 $19.26 $40.85 $111.13
 Foresters $13.56 $18.81 $42.66 $114.84
 Lincoln$13.56 $18.38 $46.55 $190.53
 Mutual of Omaha $13.56 $20.08 $46.55 $134.05
 Principal $14.66 $19.03 $42.61 $110.03
 Protective $13.12 $17.85 $41.50 $111.59
 Prudential $20.34 $24.50 $45.50 $128.84
 SBLI $14.79 $21.67 $51.68 $147.70
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As you can see, Accordia is among the more expensive options for 20-year term life insurance for men.
Term Life Insurance Average Monthly Rates (Female, 20-Year Term, $250,000 Policy)
 CompanyAge 30 Average Monthly RatesAge 40 Average Monthly RatesAge 50 Average Monthly RatesAge 60 Average Monthly Rates
 Accordia Life $15.58 $20.69 $41.83 $101.24
 AIG $11.81 $18.51 $35.59 $89.66
 Banner $11.74 $15.67 $31.17 $78.83
 Foresters $12.47 $16.63 $31.94 $85.97
 Lincoln$12.08 $16.14 $32.77 $160.13
 Mutual of Omaha $12.64 $19.21 $36.05 $94.02
 Principal $13.13 $16.63 $32.90 $77.92
 Protective $11.83 $15.27 $31.18 $77.61
 Prudential $17.28 $22.53 $40.03 $89.25
 SBLI $13.31 $18.99 $36.46 $90.37
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For women, Accordia is still near the bottom of the list for affordability, but not the most expensive for most age groups. For both men and women, Accordia customers will save by starting their life insurance policy at a younger age.
For higher amounts of coverage, both men and women will be paying more with Accordia on average than with any of the other providers after age 40. Even if you buy your 20-year term life insurance policy at 20 or 30 years old, Accordia will charge more than most for a $500,000 or $1 million policy.

What riders are available?

An insurance rider is an additional benefit added to a life insurance policy that lets you customize your term life insurance by adding value beyond the existing cash payout and coverage.

Some of these riders include allowing the policyholder to draw from their cash value without risking the policy being discontinued, allowing for additional death benefits to be paid out to family members, and more.

Here’s a list of all available riders Accordia Life provides:

  • Accelerated Access Rider
  • Overloan Protection Rider
  • Primary Insured Rider
  • Additional Insured Rider
  • Children’s Insurance Rider
  • Accidental Death Benefit Rider
  • Terminal Illness Accelerated Death Benefit Rider
  • Return of Premium Rider
  • Waiver of Monthly Deductions Rider
  • Waiver of Premium Rider
  • Waiver of Surrender Charge Due to Confinement Rider
  • Guaranteed Purchase Option Rider

Now that you’ve learned about riders, are there other benefit options with Accordia?

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What are other benefits of Accordia?

In addition to offering the different types of policies discussed above, there are a number of other benefits provided by Accordia life insurance policies.

Wellness for Life Rewards

Wellness for Life Rewards is a program included in any Global Life insurance policy and is completely free.

The rewards program is designed to encourage health-conscious behavior, allowing you to earn rewards for things like regular doctor visits, maintain a healthy weight, and other healthy activities.

The rewards that are earned are turned into discounts on your insurance policy. As you earn more rewards, these discounts will grow.

Preneed Benefits

Preneed benefits, also sometimes called funeral insurance, are designed to pay for funeral or other memorial expenses upon the policyholder’s death. The policy is linked with a specific funeral provider.

This allows you to pre-plan a funeral, memorial, or cremation and assure that it is paid for without taking away from the death benefit of your other life insurance policies.

An additional benefit of the preneed policy is that it allows you to have full control of your post-life decisions, so you can be confident your wishes are observed to the fullest.

What’s the bottom line on Accordia Life Insurance?

With three varied life insurance policies, additional riders, and pre-need benefits, Accordia Life is a great source of IUL insurance policies.

According to Standard & Poors, it has an A- Local Currency LT. Its AM Best rating is labeled as an A.

This is a very positive rating overall, and the company also has a stable credit outlook.

However, according to the National Associate of Insurance Commissioners (NAIC), Accordia currently has a complaint index score of 4.57, which is well above average.

The vast majority of these complaints seem to be surrounding individual life insurance plans.

If you are trying to decide if Accordia Life and Annuity Company is right for you, the first question you must answer is whether the IUL life insurance policies themselves are right for you.

If you are looking for more traditional life insurance policies with consistent cash values that don’t depend on any outside indexes, you will want to look at a different life insurance provider.

If you are not intimidated by the addition of market indexes in your life insurance, an IUL is a great way to increase your policy’s cash value, and Accordia Life provides three great plans to choose from.

Is Accordia Life for you, or are you still looking for the right life insurance company? Enter your ZIP code below to find more providers in your area.