Nassau Life Insurance Company Review

Nassau Re is regarded as a relatively new life insurance company, but it boasts a surprisingly rich history.
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Nassau Re Life Insurance Company

Written by Brian Greenberg
CEO / Founder & Licensed Insurance Agent

Last updated: July 18th, 2022

Reviewed by Grant Desselle
Licensed Insurance Agent

Our take

Started as American Temperance Life Insurance in Hartford, Connecticut, in 1860, the company is recognized as the first life insurer in New York State. The following year, the company changed its name to Phoenix Mutual, and would later provide life insurance to President Lincoln and Andrew Johnson.

Nassau Reemerged in 2015, but in 2016 the company purchased Phoenix Mutual (Phoenix Life Insurance Company). If you have a policy from Phoenix life insurance company, the parent company is now called Nassau Re. Today, the company assures its customers that they can expect the same, historically-great service to continue through Nassau Re.

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Customers can especially benefit from the Safe Harbor term life insurance plans, which provide flexible coverage options thanks to the included riders. Unfortunately, these riders do increase the overall premiums, which may be off-putting to initial customers.

Nassau’s relatively new status may also contribute to their lackluster financial ratings. In the immediate future, we might expect the company to rise to greater recognition throughout the industry. In the meantime, customers can benefit from some solid term and final expense options without the need for a medical exam.

On July 20th, Nassau Financial Group, L.P. (“Nassau”) completed the acquisition of Foresters Life Insurance and Annuity Company from The Independent Order of Foresters.

Nassau Re discontinued selling life insurance and it only services existing policies.

nassau Life Insurance Company Details
A.M Best Rating B+
S&P Rating BB
BBB Rating A+
Customer Service Phone 800-628-1936
Website www.nfg.com
Address Nassau Re
1 American Row
Hartford, CT 06102

What we like

No Exam Option

Nassau does not provide online quotes, but applicants can still expect rapid insurance coverage without the need for a medical exam.

Available Riders

Nassau’s policies come with some excellent riders that make the plans versatile and increase their overall value.

Quality customer service

Though regarded as a new company, Nassau boasts some of the best customer service in the industry.

What we don’t like

Limited Policy Options

Nassau offers two solid choices of life insurance policies, but customers looking for whole life insurance or universal life insurance will need to look elsewhere.

Higher Pricing

While the included riders certainly add value, Nassau’s premiums and additional yearly fees aren’t competitive in today’s market.

Lower Financial Ratings

Nassau may need time to establish itself as an industry leader, but for now their financial ratings don’t inspire confidence

Products

Full starFull starFull starFull starEmpty star
4.0/5
Nassau provides some solid offerings, but customers looking for whole or universal options will find Nassau limiting.

Nassau offers two types of term life insurance, as well as final expense insurance (Remembrance Life).

Safe Harbor

Term Life Details
Length of Coverage 10, 15, 20, and 30-year periods
Minimum Coverage: $50,000
Maximum Coverage: $500,000
Estimated Time to Approval 1 week or less
Product Features: · No Medical Exam for Select Policies
· Rapid Issue
· Riders Available
Brochure: Safe Harbor Brochure

Safe Harbor provides term life insurance, with coverage ranging from $50,000 to $500,000. No medical exam is necessary, but an Attending Physician Statement may be required for this policy.
Additionally, this policy’s length and benefits are limited based on age.

Age Limitations:

Age Range Length of Policy
18-80 10-Year
18-70 15-Year
18-65 20-Year
18-55 (or 50 if you use tobacco) 30-Year

Safe Harbor provides term life insurance, with coverage ranging from $50,000 to $500,000. No medical exam is necessary, but an Attending Physician Statement may be required for this policy.
Additionally, this policy’s length and benefits are limited based on age.

Death Benefit Limitations

Age Range Maximum Death Benefit
18-50 $500,000
51-60 $400,000
61-70 $300,000
71-80 $150,000

Safe Harbor Express

Term Life Details
Length of Coverage 10, 15, 20, and 30-year periods
Minimum Coverage: $25,0000
Maximum Coverage: $400,000
Estimated Time to Approval 1 week or less
Product Features: · No Medical Exam for Select Policies
· Rapid Issue
· Riders Available
Brochure: Safe Harbor Brochure

Nassau’s Safe Harbor Express policy is a modified version of their standard term life policy. This policy requires no APS, but the coverage is reduced. The death benefit for this plan ranges from $25,000 to a maximum of $400,000.

Age Limitations:

Age Range Length of Policy
18-80 10-Year
18-70 15-Year
18-65 20-Year
18-55 (or 50 if you use tobacco) 30-Year

Death Benefit Limitations:

Age Range Maximum Death Benefit
18-50 $400,000
51-60 $300,000
61-70 $200,000
71-80 $100,000

Remembrance Life

Nassau’s Remembrance Life Policy is a form of final expense insurance. It provides a lump-sum death benefit, designed to handle remaining credit card debts, medical bills, and any outstanding expenses. Coverage amounts range from $10,000 to $50,000, though the maximum coverage is capped at $40,000 for applicants in their 60s, and capped at $35,000 for applicants over age 70.

Borrow from the Cash Value

Policyholders may borrow as much as 100% of the cash value from this policy, and typically this money is tax-free. This reduces the death benefit, but it permits the insured to use the money to cover medical bills and other end-of-life obligations.

No Medical Exam Required

The Remembrance Life policy requires no medical exam, but applicants will have to answer a brief questionnaire prior to receiving coverage

Policy benefits

Full starFull starFull starFull starEmpty star
4.0/5
Nassau offers riders that can be used to customize your life insurance plans and provide peace of mind to the insured and their families.

Conversion options

Nassau’s website indicates that term life customers have the option of converting their policy into a permanent policy during the first portion of their term. However, given that they don’t advertise whole life or other permanent policies, it’s unclear how this is meant to work.

Riders

Both the Safe Harbor and Remembrance Plans offer riders to customize the policy even further. These riders must be elected at the time that the policy is issued, and some have an added expense.

  • Accelerated Death Benefit Rider – If the insured is diagnosed with a qualifying medical condition, they may borrow as much as 95% of the death benefit to cover medical and other expenses. This applies to terminal, chronic, and critical illnesses.
  • Accidental Death Benefit Rider – If the insured dies as the result of an accident, this rider pays an additional lump sum of $250,000 or less. To qualify, the insured must be under 65 at the time of issue, and the rider terminates on the policyholder’s 70th birthday. This rider comes standard with the Remembrance Life plan, but term life customers will have to pay an additional fee.

Cost

Full starFull starEmpty starEmpty starEmpty star
2.0/5
Nassau offers quality services with riders that add considerable value, but many customers may find these prices exceed their expected budget and look elsewhere. Nassau’s prices are generally a bit higher than current industry averages. Some customers may be willing to pay higher premiums for the benefit of the riders and options that Nassau provides, but others may wish to look elsewhere for affordable life insurance coverage.

Higher than Industry Average

As of 2020, a 30-year-old male could receive a 20-year term with $250,000 of coverage for around $14.00 according to the industry average. Nassau offers the same man the same policy for $24.00 with their Safe Harbor plan, and $34.00 with their Safe Harbor Express plan.
Additionally, Safe Harbor customers can expect to pay an annual fee of $72.00, and the accidental death rider is available only at an additional cost.
While the included riders add value, many customers may find Nassau to be cost-prohibitive compared to their competitors.

Remembrance Life Is an Affordable Option

Remembrance Life is an affordable policy option, but customers are still required to pay a minimum of $360 in annual premiums, in addition to the $48 annual policy fee.

Policies Include Annual Fees

Some customers may dislike being charged with an annual policy fee. While these fees tend to be negligible, they nonetheless add to the annual cost of their policies.

Performance

Full starFull starFull starEmpty starEmpty star
3.0/5
As a newer company, Nassau’s rankings fall below those of their competitors.

Financial ratings

SBLI’s high ratings provide assurance that they can be trusted to provide the coverage you need. They are ranked as follows:

  • A.M. Best: B+
  • S&P: BB
  • BBB: A+

These lower scores may reflect the fact that the company is relatively new. Founded in 2015, Nassau may still be establishing its identity and reputation, meaning we may see its scores increase in the near future.

Customer reviews

Full starFull starFull starFull starEmpty star
4.0/5
Nassau’s NAIC complaint index is 0.18, meaning they receive fewer customer complaints than other companies their size. Additionally, Nassau RE has an average rating of 4.5 out of 5 from verified True Blue Life Insurance customers.
4.7 /5
Based on 67 reviews

Excellent
82%
Great
13%
Average
3%
Poor
0%
Bad
1%
Feb 05,2020
Taka Harmon Verified
Orlando,FL
The application process was a little long but only because of the underwriters but overall good
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Jan 30,2020
Antonio Fulton Verified
New Haven,CT
Extremely great customer service
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 year

Oct 02,2019
Lauren Smythe Verified
Reston,VA
Great !! Easy process and follow up
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Sep 04,2019
Ronald Weaver Verified
Philipsburg,PA
My experience with True Blue Life Insurance was very satisfying Nikki,Kathy and Julie worked hard to get me what I needed and kept me informed and answered all my questions quickly and professionally
Company:
Nassau Re Life Insurance Company
Product:
Signature Term
Policy length:
20 years

Jun 29,2019
William Segal Verified
Memphis,TN
This entire process was straightforward and easy. I knew what I needed and thankfully Nassau Re was able to provide it to me at a reasonable cost.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 year

Jun 13,2019
Marva Mosby-Gordon Verified
Kansas City,MO
Application process was great!!
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Apr 16,2019
Steven Efferin Verified
Pittsburgh,PA
NIKKI Walker took the time to explain to me different options and was wonderful to communicate with with..she great at job....i am so grateful for NIKKI helping me and I strongly recommend her.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Apr 12,2019
Thomas Niedermayer Verified
Philadelphia,PA
Jennifer was great to work with and very knowledgeable.
Company:
Phoenix Life Insurance Company
Product:
Rememberance Life
Policy length:
Guaranteed Acceptance Life Insurance

Mar 16,2019
Dawn Small Verified
Hudson,FL
We chose a different Insurance Provider.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 years

Mar 12,2019
Andrew Shashy Verified
Jacksonville,FL
The experience was fairly straight forward and not hard.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 years

Mar 04,2019
Francis Kordalski Verified
White Oak,PA
Very easy application process!
Company:
Nassau Re Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
15 years

Feb 05,2019
Audrey Blair Verified
South Haven,MI
Good insurance good price
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 year

Jan 27,2019
Gagan Puranik Verified
Basking Ridge,NJ
Excellent service. Excellent service. Excellent service. Excellent service. Excellent service. Excellent service. Excellent service. Excellent service. Excellent service. Excellent service.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 year

Jan 21,2019
Anthony Stafford Verified
,CA
Easy process and quick response.
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 years

Jan 21,2019
Thomas Proctor Verified
Tallahassee,FL
So far in obtaining a new policy I have dealt with Jen Plisch and Kathleen Baca. Both have been very helpful and responsive.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 years

Jan 16,2019
Annette Dearinger Verified
Las Vegas,NV
Approved my policy in a timely manner
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 years

Jan 16,2019
Seth Lounsberry Verified
DeRidder,LA
Jennifer made this whole experience very pleasant.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Jan 16,2019
Michael Lounsberry Verified
DeRidder,LA
excellent job Jennifer
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Jan 11,2019
Sharon Williams Verified
Jackson,MS
Great Rates and options
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 year

Jan 09,2019
Michael Cummiskey Verified
Newport,KY
Very easy process that finds you lots of options.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Dec 22,2018
Julie Hassett Atkin Verified
Los Angeles,CA
Very clear; honest and professional.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Dec 19,2018
Jesus L Martinez Verified
Elgin,IL
Excellent would recommend to friends!
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Dec 14,2018
Donna Brown Verified
Banning,CA
I was kept informed during the application process.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 years

Dec 07,2018
Robert Martinez Verified
San Antonio,TX
Easy process. Competitive rates.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Nov 12,2018
Mercy Alu Verified
Schaumburg,IL
The agents who emailed me regarding my application were very courteous and clear with their questions, giving me time to provide the answers. They maintained communication by email, letting me know that I can always reach out to them, or to my agent Nikki if I needed any further clarifications. I am happy with the company, especially knowing they have been around for so long and had insured President Abraham Lincoln.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
30 years

Nov 10,2018
Alan Discount Verified
Fontana,CA
Very satisfied. My experience has been excellent.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
15 years

Nov 06,2018
Kristine Wisdom Verified
Orem,UT
Satisfied. Thank you
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Oct 19,2018
Brandon Williams Verified
Dallas,TX
Great overall satisfaction.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Oct 18,2018
Anne Lombardi Verified
Palmer,MA
I am a new customer but am very satisfied so far! Thank you!
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 years

Oct 13,2018
Felicito Fernandez Verified
Kearney,NJ
Policy prices are great specially if your age below 60.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Oct 03,2018
Samuel Kinton Verified
Madison,AL
Good price and good coverage
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 year

Oct 01,2018
Dzenan Lulic Verified
,CA
Overall good choice for me.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 year

Aug 12,2018
William Tafoya Verified
Plainville,MA
Great experience! Quick and efficient process.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Jul 31,2018
Walter Nicholas Verified
Lynwood,WA
Well so far so good I don’t know to much about the co. Yet to early to really give any feedback yet
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 years

Jul 12,2018
Samir Patel Verified
Acton,MA
Great quote and quick delivery of policy
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
30 years

Jul 08,2018
Xavier Slater Verified
Charleston,SC
The agent Cheryl was great
Company:
Phoenix Life Insurance Company
Product:
Accidental Death
Policy length:
20 year

Jun 27,2018
Matthew McNeal Verified
Elgin,SC
Professional and so far no issues.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 years

Jun 27,2018
Donna Perdue Verified
Vivian,LA
Affordable rates, great agent
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Jun 23,2018
John McCullough Verified
Maize,KS
great service great price
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 year

May 13,2018
Merilee Reeves Verified
Murfreesboro,TN
Great experience, easy!
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 year

May 13,2018
Theresa LaRosa Verified
Scotch Plains,NJ
It took a little longer.... but probably the doctor
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 year

Apr 06,2018
Yvon Wagner Verified
,CA
The policy came through quickly as promised. All good so far!
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 years

Apr 04,2018
Walter Weems Verified
,KS
The application process was very fast and easy and the rates seem to be good for a no exam life insurance product.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Mar 09,2018
Sara Woeber Verified
Batavia,OH
Quick approval, thank you
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Mar 09,2018
James Rogers Verified
Scottsdale,AZ
The entire process was a breeze compared to other insurance companies I have dealt with in the past. They only had a couple follow up questions and the policy was issued quickly.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
10 years

Feb 16,2018
Freeman Riles Verified
Chicago,IL
Great rate. Slow on communicating..
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 years

Jan 26,2018
Barry Simmons Verified
,TX
Good experience overall.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
30 years

Jan 24,2018
Michael Eastwood Verified
Hackettstown,NJ
I'm a new customer. I will provide more information as times goes on.
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 year

Oct 31,2017
Diane Ancinec Verified
Longview,TX
I hope they are as responsive as they are quick to approve.
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 year

Sep 08,2017
Marianne Daniel Verified
,CA
I think Phoenix Life's policy offering is reasonable and fair, and will give me peace of mind in the future.
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
15 year

Aug 21,2017
Jon Sugick Verified
,MI
I am so excited to learn about the insurance product that I purchased from Phoenix Life. I am very satisfied with the product and the procedure I experienced.
Company:
Nassau Re Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 years

Apr 07,2017
Harry Wambach Verified
Levittown,PA
policy covers even more than I expected
Company:
Nassau Re Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 year

Mar 02,2017
Jennifer McMahon Verified
Swedesboro,NJ
So far seems to be going very well.
Company:
Nassau Re Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
30 year

Jan 19,2017
Michael Walker Verified
Michigan City,IN
Perfect timing and help
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 years

Aug 01,2016
Annie Bisdorf Verified
Folkston,GA
Other than making payment, no interactions yet and that's a very good thing as I'm not ready to die yet
Company:
Phoenix Life Insurance Company
Product:
Rememberance Life
Policy length:
Age to 100

Jul 18,2016
Mark Arney Verified
Leesburg,FL
The policy states I only have 14 days to review, while the State of Florida stature states 30 days. Hence 4 verses 5 stars.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 years

Jun 17,2016
Brandon Metzler Verified
,MS
So far so good. Thank you.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Jun 12,2016
Randy Van Wagner Verified
,WA
good wish I could have insured my wife though
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
10 years

May 03,2016
Thomas Turner Verified
Demossville,KY
So far so good with Phoenix Life. I am reviewing my policy now. No complaints. I am a little concerned about SOME reviews on the net ABOUT phoenix paying. Four stars
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Apr 11,2016
Floridalma Hernandez Verified
Hollywood,CA
So far so good. They were fast in processing the application and giving a response.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 year

Mar 01,2016
Isaac Farmer Verified
,AR
We haven's used it yet so it is hard to say. It was a good experience and the rates are good.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 year

Jan 25,2016
Marketa Smith Verified
Fuquay-Varina,NC
Very good thus far. We were pleased with the professionalism and the agent seemed to have complete understanding.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Dec 03,2015
Jeff Edwards Verified
,MS
Premium was higher than first quoted.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:

Oct 29,2015
Andrew Kucharchuk Verified
,LA
Good I have no complaints
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 year

Oct 26,2015
Sonny Mauricio Verified
,WA
Great experience! Seamless, information and documents were sent quickly and taken care of efficiently!
Company:
Phoenix Life Insurance Company
Product:
SI-Safe Harbor Term Express
Policy length:
20 year

Sep 09,2015
Loretta Bolin Verified
,AZ
I HAVE HAD NO PROBLEMS. JUST REC'D POLICY.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 years

Aug 30,2015
Charles Williams Verified
,KS
Just started. So far very good.
Company:
Phoenix Life Insurance Company
Product:
SI - Safe Harbor Term
Policy length:
20 year

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