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Sagicor Life Insurance Company Review

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Sagicor Life Insurance Company Review

Written by Brian Greenberg
CEO / Founder & Licensed Insurance Agent

Last updated: August 9th, 2022

Reviewed by Grant Desselle
Licensed Insurance Agent

Our take on Sagicor

“Wise financial thinking for life,” that’s Sagicor’s tagline, and, as they promote so prominently on their website, the heart, and soul of the whole platform. One of the definitive reasons this company is so impressive is that it has a vaulted and highly commendable lineage.

Sagicor’s history

Sagicor is one of the oldest and most respected insurers in the Americas, one with a famed and distinguished history that dates back to 1840, to Bridgetown, Barbados. Over the years, the company and its practices have grown.

It started on the 24th of November, 1840, when Howard Gill purchased its first policy. One with a sum assured of $10,000 – and then evolved to a multinational conglomerate that underwrites NASA programs, has multiple foundations, issues bonds on the International market, and even owns one of the largest banks in the Caribbean. The Sagicor Bank, formally known as the RBC Jamaica.

Where Sagicor shines

Sagicor is a convenient and straightforward life insurance company. Among its many products and the one that most impresses us and our customers is its streamlined no medical exam life insurance.

The whole application process is straightforward and fast and can be completed over the phone or through your computer.

Rates are competitive compared to other popular choices, and if you are between 18- 65, you can get $1 million in coverage without the need for a medical exam. If, on the other hand, you do get a medical exam, that coverage can skyrocket to a staggering $10 million.

What we like

Sagicor offers 180 years of experience

Sagicor has over 180 years of experience under its belt. Sure, a century of experience isn’t unheard of among life insurance providers. But an additional 80 years goes a long way.

Customers first

Sagicor has always prized its customers above everything else. They offer great service, which in turn translate to exceptional ratings.

Great value for the money

Sagicor has coverage in over 45 States, and it is considered one of the best value insurance companies out there.

What we don’t like

Not the best option for people with health conditions

Sagicor doesn’t sign up people with serious health conditions. Certain companies do take individuals with serious health conditions. Sagicor is not one of them. Among the conditions listed are sleep apnea, diabetes, arthritis, and asthma.

Not the best option for term with a medical exam

While Sagicor does offer term life insurance with a medical exam, their pricing isn’t as competitive as their non-medical exam version.

Sagicor’s Life Insurance Products

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While Sagicor shines when it comes to convenient term life insurance, they lack other products.


Term life insurance by Sagicor Life is available for periods of 10, 15, or 20-year terms. Sagicor’s term life insurance policies all offer guaranteed level premiums and death benefits to age 95.

They also offer the ability to convert to a permanent life insurance policy further down the line and income payment in the event of a terminal condition or confinement to a rehabilitation or nursing home.

Qualifying applicants can skip the exam

If you’re healthy, one of the great things about Sagicor is that you can sign up for their services without the need for a medical exam.

Online application

In a matter of minutes, you can get a decision, and their automated underwriting system provides accurate details on your options and eliminates the need to talk to an agent.

Not the best for individuals in less than average health

If you are in average or better health, Sagicor is a wonderful option. You can’t beat the pricing, and the application is fast and convenient. But those in less than average health are likely to get denied. This is why we recommend giving us a call to go over your options. Our recommendation will be completely unbiased.

Policy benefits

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Sagicor offers some policy benefits, like convenient riders, and an online application. But they don't offer as many as other life insurance providers.

Conversion options

A conversion option is a great option to have. It allows you to convert your term policy into a permanent policy once the term ends. This bypasses the need for a new application, medical exam, and so forth.

While a conversion option isn’t rare to find, it is for this Sagicor’s price point.

You could lock-in your term policy up to age 80

Term life insurance is a strong product as it offers a lot more coverage than whole life does, usually for a fraction of the price. But as you grow older, options for term life insurance get slimmer.

With Sagicor, you could still qualify for a 30-year term policy at age 50. Or a 20-year policy at age 60.

5-year renewable term

If you buy term life insurance through Sagicor, say for a 20-year term, you’ll be able to renew that policy once it ends. These renewals happen in 5 year periods. So once your policy lapses after 20 years, you can extend it for 5 years. And once those 5 years are up, you can extend it again for 5 years.


Sagicor offers a few convenient benefits and riders in their policies. Since the price is so low, you won’t get as many as you would with Mutual of Omaha, for example. But we feel that their offering is sufficient and matches the price point. If you want to know the ins and outs, you can always speak to a True Blue agent.

Common Sagicor riders:

  • Accidental Death Benefit – if you pass away due to a tragic accident, your beneficiaries get an additional benefit.
  • Accelerated Death Benefit Rider – If you have a terminal illness or need to stay in a nursing home, you can reach a slice of your death benefit while you are still alive.
  • Child rider – you can add coverage for your kids as long as they are younger than 19.
  • Waiver of premiums – if you are disabled and can’t work, your life insurance remains active without you having to pay premiums.


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Sagicor's pricing for term without an exam is excellent. But their pricing for term that does require an exam isn't as great.

Sagicor offers competitive rates and some of the highest death benefits in the market. And if you seek term life insurance without a medical exam, Sagicor is among the cheapest providers.

Sagicor’s simplified issue insurance plans aren’t the cheapest in the market. Nonetheless, they do offer lower premiums compared to other top-insurance companies. When compared to others of its fields, only MassMutual offers a better deal when it comes to quotes for nonsmokers and smokers.

Great convenience at a great price

Sagicor offers a phenomenal record, not to mention its streamlined system that allows policies to be purchased online. There’s no need for an agent, and the application is very straightforward and easy to complete in minutes.

Sagicor has a strong rating and financial history. This makes it one of the most competitive underwriting services in the market right now, translating to peace of mind. It’s almost impossible to find a cheaper policy with Sagicor’s unique features.

Affordable universal life insurance

Sagicor’s universal life insurance lasts until you turn 120, making it one of the most competitive in the market right now. Premiums are level for your entire contract and length of coverage, and, once more, you can purchase a policy without the need of a medical exam as long as your death benefit isn’t greater than $250,000 – $400,000.

The main difference, and benefit, between a universal policy and a term policy, is that the former builds a cash value over time fixed to the interest rates.

Highly competitive pricing for no medical exam term life

In fact, Sagicor is one of the cheapest providers of term life insurance without the need for an exam that we quote. Get your rate here.

Affordable universal life insurance

Sagicor offers universal life insurance, and like their no medical exam term, it’s priced very well.

Not a strong contender for term with an exam

If you seek the lowest price possible and don’t mind a medical exam or a longer underwriting, Sagicor may not be your best option.


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Sagicor has excellent ratings among S&P and A.M. Best. Meeting financial obligations should not be an issue.

Financial ratings

Sagicor has an excellent financial rating. It is very likely that meeting financial obligations will not prove to be an obstacle for them.

  • S&P Rating: A+ – Excellent
  • A.M. Best Rating: A – Excellent

Customer reviews

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Sagicor has an A+ rating on BBB and a 4.9 rating from verified True Blue customers.

Customer ratings

Sagicor Life has an excellent rating from third-party institutions among them the Better Business Bureau and A.M. Best.

In fact, Sagicor has only received 2 complaints on record on the Better Business Bureau.

Unfortunately, J.D. Power has not yet reviewed Sagicor Life.

We do ask individuals who buy a Sagicor Life policy through us for a review. You can read such verified customer reviews below.

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