Nassau Re Review

Sarah BadaniBySarah BadaniDec. 27, 2018

In a Nutshell

Nassau Re is the rebranded insurance policy provider formerly known as Phoenix Life Insurance. With a new face and a fresh perspective, Nassau Re is giving people a viable option for affordable life insurance coverage that will help protect their loved ones when they need it most. Nassau Re offers term and whole life insurance policies. Is Nassau Re the new spin this industry has been waiting for? Let’s find out.

pros

  • Backed by a huge financial institution, Golden Gate Capital
  • Free (valuable) riders at no additional costs

cons

  • Limited options, only 2 plans to choose from
  • Can take up to 2 months for underwriting period to clear

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Best For?

Nassau Re is a great option for people who are looking to ensure that their families or loved ones are provided for even after they’ve gone through a strong and rock-solid life insurance policy. It's also a fantastic choice if you want to make sure you're covered for retirement.

Features

Nassau Re rebranded the well-known and trusted Phoenix Life Insurance Company. So, while this company has only been around for a few years, Nassau Re stepped into some of the most weathered and experienced shoes available in the industry. Phoenix started almost 200 years ago, so the company has more experience than most of all the other insurance providers combined. Nassau Re retained all of that sage information and understanding, allowing them to provide their customers with the expertise of a weathered pro along with the innovation of a fresh startup.

Additionally, Nassau Re kept another popular feature of the Phoenix Life Insurance Company brand: its inexpensive pricing structure. To date, Nassau Re is still one of the most reasonably priced options for life insurance policies anywhere. Here are some highlights:

  • Close to 2 centuries in the insurance industry
  • Option for standard or exam-free express application
  • Competitive rates
  • Easy to understand plans and pricing structure
  • Simple application process
  • B rating from the A.M. Best (and climbing)
  • BB rating from Standard & Poor’s
  • No medical exam required
  • Great customer service

Application Process

You can send in an online request to get insurance quotes for free. Of course, how quick and easy it is depends on which life insurance policy you opt for. Policies without a medical exam will obviously be much easier to apply for. You just answer a few basic questions, and you're done. You'll also receive an answer much faster, probably getting coverage within a few days, especially since you won't have to wait for test results to come in.

Bear in mind, however, that no-exam plans are going to cost more than with-exam policies. That’s because you are potentially a higher risk for the insurance company, so they need to cover themselves. This translates to a higher premium.

If you choose the exam-required plan, then the application process is still fairly quick. You can speak with a representative and have the entire application filled out in less than 15 minutes. You’ll have to send in the results of your medical exam, but Nassau Re does its best to process everything quickly. In general, you could be done with this step in a few days. The only thing that can take longer is the underwriting process. While it doesn’t have to, underwriting can take up to 2 months to complete.

Policy Types and Terms

Nassau Re offers both term life insurance and whole life insurance policies, so you can get whatever you want from your policy.

  • Phoenix Safe Harbor Term Life

Nassau Re term life policies can be purchased from 10 years up to 30 years (10, 15, 20, and 30 years to be exact). Unlike other competitors, Nassau Re offers policyholders several riders that come free with their plans. Some of the freebies include critical illness, chronic illness, and terminal illness. Nassau Re also throws an unemployment rider in at no additional cost. Anyone from 18 years to 80 years of age is eligible, and the death benefits range from $25,000 up to $400,000.

What’s also impressive about this policy is that Nassau Re allows you to convert the Safe Harbor Term Life policy to a Remembrance Life policy later on in life.

  • Phoenix Remembrance Life

The main point of the Phoenix Remembrance Life policy is to help the bereaved pay for funeral and other post-mortem expenses. This is a huge relief for those suffering from grief. The good thing about this policy is that it is super easy and fast. As mentioned earlier, the Remembrance Life policy requires no medical exam, making the application process fast and smooth. This plan also comes with free riders including accidental death benefit, critical illness benefit, and terminal illness benefit.

In addition to life insurance policies, Nassau Re offers annuity products. If you are looking for an additional income to supplement your retirement, annuities could be an excellent choice. Some of the options include Phoenix Personal Income Annuity, Phoenix Personal Protection Choice, Phoenix Personal Retirement Choice, Nassau MyAnnuity 5x, 7x, and Nassau Simple Annuity.

How Safe Is It?

Nassau Re is backed by Golden Gate Capital with a $750 million investment. It currently has $81.6 billion gross life insurance in force, 365,000 policies currently active, and manages over $5.3 billion in annuity funds. So, Nassau Re is a pretty safe bet in terms of financial independence.

In terms of site security, all transactions are secured using up-to-date technology. Procedures are in place to limit access to any of the personal information you give, and Nassau Re has both physical and digital safeguards that comply with both federal and state regulations to ensure that the utmost in security measures and precautions are always in place.

Help & Support

Nassau Re has customer support via email using the online contact form, snail mail, or over the phone. Support staff is available from Monday to Friday 8:30am-5:00pm ET, though certain departments keep even longer hours. You can also browse Nassau Re’s helpful FAQ section on the website to get immediate answers to some commonly asked questions. What's more, across all media channels, Nassau Re has been rated as having excellent customer support staff. They’re helpful, friendly, and knowledgeable, so you get the answers you need without a fuss.

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Nassau Re at a Glance

Nassau Re took over the strong and long-standing Phoenix Life Insurance Company that had been successfully insuring policyholders for almost 200 years. As an individual firm, Nassau Re was founded in 2015 and is generously backed by Golden Gate Capital, a private investment firm, giving Nassau Re the backbone to offer strong life insurance policies at competitive rates. Currently, the firm handles all areas of coverage, including insurance, reinsurance, distribution, and asset management, and it truly covers the spectrum from real estate investments to collateralized loan obligations and annuity products. Nassau Re has been praised for its low pricing, easy to understand policies, and helpful customer support staff, making this insurance provider a top pick across the board.

Physical Address

Nassau Re

430 W 7th Street

Suite 219361

Kansas City, MO 64105-1407

Sarah BadaniBySarah BadaniOct. 07, 2019
Sarah Badani has extensive research and review experience in the finance industry. With a degree in psychology and education, she brings a level of depth and understanding to her writing along with her own flavor to spice up each topic in a unique and inviting way.
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