Founded in Moncton in 1904, Assumption Life is one of the oldest insurance companies in the country. Assumption Life offers life insurance for groups or individuals.
Policyholders can choose from whole, term, or universal life insurance. There’s a network of insurance advisors there to assist each client, as well as an exceptional customer service team.
The Assumption Life app allows clients to submit claims from their phone, check eligibility on coverage, view a map of where the policy is accepted, as well as a tool depicting deductibles and total savings.
Assumption Life Key Information
NAME
DETAILS
Company Name
Assumption Mutual Life Insurance Company
Head Office Address
770 Main St., PO Box 160, Moncton, NB, E1C 8L1
Contacts
506-853-6040 or 1-800-455-7337 Fax: 855-430-0587
Email
client.services@assumption.ca
Website
https://www.assumption.ca/
In Business Since
1903
A.M. Best Rating
-
Financial Assets
C$105.7 Million
Terms and Conditions
https://www.assumption.ca/en/Legal-Notice.aspx
How Do I Purchase a Plan with Assumption Life Insurance?
Contact Assumption Life by phone or on their website in order to purchase a plan.
How Can I Reach Assumption Life Insurance by Telephone?
Contact 506-853-6040 to reach Assumption Life Insurance by telephone.
How Do I File a Claim with Assumption Life Insurance?
You’ll have to contact Assumption Life and request a claims form if you wish to submit a claim.
Assumption Life Insurance Pros and Cons
As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages. Let’s take a look:
Why Assumption Life Insurance Could Be Right for You
Strong financial assets
Flexibility - customizable and accommodating plans
Competitive pricing
Why Assumption Life Insurance May Not Be Right for You
Limited product offerings
Not the greatest website in comparison to other insurance companies
Does not service all areas of Canada
What Does Assumption Life Insurance Cover?
Assumption Life offers a diverse range of insurance products designed to meet various financial needs. These products include life insurance, which provides financial protection to loved ones in case of the policyholder's passing. Additionally, they offer critical illness insurance, which offers a lump sum payment upon diagnosis of a serious illness. Disability insurance provides income replacement if the policyholder becomes unable to work due to disability. Assumption Life also provides health and dental insurance options for comprehensive medical coverage. Furthermore, they offer travel insurance to safeguard against unexpected events while traveling. These products collectively address a wide spectrum of financial and health-related concerns.
Assumption Life - Life Insurance Plans
Assumption Life offers a comprehensive array of life insurance plans catering to diverse needs. The FlexTerm plan provides customizable coverage durations, while Youth Plus is tailored for young individuals. Golden Platinum focuses on seniors with unique benefits. Essential offers fundamental coverage, and No Medical Life Insurance provides options without medical exams. These plans collectively ensure a range of choices, accommodating various life stages and requirements.
FlexTerm
FlexTerm is a term life insurance offered to you by Assumption Life, and is for individuals between the ages of 18-75. It is adequate for people who need low cost insurance that is flexible. FlexTerm is available for 10, 15, 20, 25, 30, and 35 years of coverage. The coverage for FlexTerm ranges from $50,000 to $4,000,000. In addition, the product is for individuals aged between 18 and 75, and medical exams are not required to enroll in the life insurance coverage of $999,999 and below. You can convert your FlexTerm policy to a permanent insurance product offered by Assumption. The plan also includes optional riders or features such as child insurance benefits, as well as critical illness riders. Should you become disabled or injured, you may receive a benefit of up to $3,500. The life and disability premiums for this plan remain the same through the contract.
Youth Plus
Youth Plus from Assumption Life is a guaranteed term life insurance, for individuals as young as just 15 days old, to the age of 25; but only purchasable until the age of 17. Should a child become ill as described in the contract, Youth Plus will offer the child a living benefit. This gives you access to the policy’s face amount, making it possible for you to take care of your child without having to worry about finances. Once your children reach age 25, they can convert the plan to a permanent or term life insurance plan, irrespective of their health status or proof of insurability. This feature is made possible by the guaranteed insurability. The premium for this plan remains the same all through the life of the contract.
Golden Protection Elite Term
Golden Protection Elite Term life insurance from Assumption Life Insurance is a term life insurance created for individuals with a clean medical history who do not wish for a medical exam in order to be approved for medical insurance. This insurance is available to you at a term of 10 years or 20 years. If you are in between the ages of 18-44, you’ll receive a minimum coverage of $50,000. And if you’re between the ages of 45-70, the minimum coverage you’ll receive is $25,000. The maximum coverage for any age group or term is $1,000,000.
Platinum Protection Elite Term
Platinum Protection Elite Term is the best choice offered for life insurance from Assumption Life Insurance. It is created for individuals who are between the ages of 18-70, with no medical history, who do not wish to be medically examined in order to obtain life insurance. If you’re between the ages of 18-44, the minimum coverage you’ll receive is $50,000. And for those that are between the ages of 45-70, the minimum coverage is $25,000. The maximum for both age groups is $500,000. The key feature to the Platinum Protection Elite Term is that you are able to transfer your insurance policy over to permanent life insurance without being screened again.
Essential Whole Life
Essential Whole Life is Assumption Life’s most cost-effective life insurance, and caters to individuals who are between the ages of 18 and 75. This plan does not involve any medical exam for coverage of $999,999 or less. In addition, the coverage for this plan ranges from $10,000 to $4,000,000. If you lose your work due to an injury or illness, the Essential Whole Life Insurance has an optional disability insurance feature, providing a monthly disability income up to $3,500. Furthermore, you can add a critical illness rider. You can also add extra protection to the coverage such as child insurance benefit, and disability insurance. Throughout the life of the contract, the life and disability benefits will remain the same.
Platinum Protection
Platinum Protection is a permanent life insurance offered by Assumption Life for individuals between the ages of 18-85. With no medical exam required, you can get insured immediately. For those who are between the ages of 18-70, the coverage ranges from $10,000 up until $500,000. And for those who are between the ages 71 to 85 the range offered is $10,000 up to $125,000. Policyholders can select if they wish to pay their premiums for life, until they turn 100, or they can opt for paying for premiums for 20 years, from the age of 18 until 80.
Golden Protection Elite
Golden Protection Elite is a permanent life insurance product offered to you by Assumption Life. With this plan, the minimum coverage for individuals between the ages of 18-75 is $10,000, and the maximum is $150,000. For individuals between the ages of 71-85 years of age, the minimum coverage is $5,000, and the maximum is $25,000.
Golden Protection
Golden Protection is a permanent life protection offered by Assumption Life for individuals between the ages of 40 and 85. This coverage allows you to qualify for insurance even if your application was postponed or declined in the past two years. The coverage for this plan is in the range of $1,000 to $100,000 for people between ages 40 and 75 and $1,000 to $50,000 for people between 40 and 85. The insured can take advantage of the living benefit with no additional cost involved.
Silver Protection
The Silver Protection permanent life insurance plan from Assumption Life is for individuals between the ages of 40 to 85. If you are between the ages of 40 and 70, the minimum coverage you will receive is $5,000, and the maximum is $50,000. For the age group of 71 to 85 years old, the minimum coverage is $2,500, with the maximum coverage being $50,000. Premiums are competitive, with deferred coverage to you for the first two years. The plan is customizable with the option to add an Accidental Fracture Plus rider, plus additional benefits available to you at no additional costs such as terminal illness benefit, transportation benefit, and accidental death.
Bronze Protection
The Bronze Protection is permanent life insurance designed for those who have severe health issues, or for those who live an active and risky lifestyle. You must be between the ages of 18 and 80 years old, and there are no medical exams required here in order for you to qualify. For policyholders between the ages of 18 and 70 years old, the minimum coverage you will receive is $5,000, with a maximum at $50,000. And for those between the ages of 71 to 80 years old, the minimum coverage is $2,500 and the maximum is $25,000. The death benefit is deferred for the first two years. There’s also additional benefits at no additional costs including a living benefit that pays out the 50% of the insured sum incase of critical illness. There’s up to $2,000 on a 200km transportation benefit, as well as an accidental death benefit available to you.
Assumption Life Health Insurance
The Critical Protection health insurance plan from Assumption Life covers 16 critical illnesses. This insurance is available for purchase between the ages of 18-60 years old, but the coverage is available until the age of 75. You can opt for a chronological term of 15, 20 or 25 years, and the coverage ranges from $10,000 to $100,000. This insurance is created to help you cover your living expenses and is not the same as health insurance that covers your medical expenses in the event that you’re sick. Instead, you’ll receive a one time tax-free lump sum benefit in order to help supplement your lifestyle.
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Lanie Velasco-Jn Charles
So quick and efficient. Sourabh was very accommodating and helpful to what I needed for health insurance. They were able to call me back without having to have waited 1-2 business days. Love it!
Kenneth Schock
To ensure continued confidence that our long term health needs will be maintained.
Angie Mena
Christine helped me over the phone and was amazing and respectful
Steve Kriston
It was convenient and easy. Chris couldn’t have treated us better if he’d been sitting right beside us. Great experience!
Karen Roberts
The application process was easy and they were able to get me a great rate! The customer service was excellent!
Laura Christina
Very quick and formative.
Robert McLean
He was so nice to me told so much about it thanks so much
Charlaine Banfield
Gautam was very helpful in making my decision about which insurance to purchase. I would recommend this insurance company
Adam Diamond
George was helpful quick and knowledgeable with helping me find something suitable and that worked best at that. I definitely recommend Insurdinary for all of your insurance needs. Thanks George!
Holly Hanna
Very polite and courteous! Def a thumbs up ☺️
Kathy Jackson
Make it possible to contact a CSR who doesn't transfer me around 7 times before telling me they can't find their own policy issued to a customer - a policy number taken from their own letterhead!! I will tell everyone I know, in every way, to avoid your company at all costs. If I have to, I will contact CBC W5 or Marketplace. Manulife, you have messed with the wrong estate executor!!
Dee Garrett Gauthier
We had an excellent experience with Insurdinary. We strongly recommend them for insurance. Very pleasant to speak with. Fast and easy. We will be telling our family and friends all about it. Give them a call.
Edward Fayer
The easiest way to find an insurance plan that works for you!
Nicole Florendo
Get Quotes and Compare the lowest and best insurance rates now!
Widya Febrina
Thank you so much George for your help , you so quick to respond me back and help me lots everything done so quickly. The best services ever. I will recommend to all my friends . Thank you so much I do really appreciated it..
Both R'ceino Ewing and Dornaz were very informative, served me efficiently and responded to my needs in a timely basis. I now can travel without worry. I thank you both.. Bernard Madden
Tracey-Anne Lee
I highly recommend this insurance company. Artmiz was my agent. She was polite, informative, patient, efficient and made me feel like family. Their prices are better than other travel insurance and have great coverage. This is who I will be with for my future vacations and will definitely recommend to friends and family. Thank you Artmiz for making this transaction smooth. Much appreciated.
Glenn Gowriluk
Artmiz provided us with thorough and friendly service and advice in purchasing travel insurance. 5 stars!!
Artmiz was very efficient and professional. She followed up and ensured we got the best rate and package for our travel needs
Linda Beatson
It was a very convenient process. The agent was very helpful and I was able to get the coverage I require.
Joanne Hebb
Dylan and Eric were very helpful on my search for travel insurance. They were very friendly as well. I was glad to use them for info.
Clifford, Deborah
We spent considerable time with Dylan on the phone on several occasions and his patience and explanation of the policy was second to none. He is knowledgeable and thorough and extremely well spoken and mannered. We were then passed on to Eric and the response was the same. This company has our travel insurance business forever. Thank you Dylan & Eric.Clifford & Deborah Horsfall
Bernadette Wyllie
Service was excellent with Eric
Janice Bethune
Elaine Morelli
Traci Albert
Agents were helpful and personable
Kara Walker
Eric was quite helpful in suggesting insurance coverage best suited to my needs and quickly took care of getting me all signed up once I made the decision to move forward
mac mchenry
Kent Carstairs
Armando Perez
Easy to work new insurance when your agent Felipe Portes is effective, know his product and try to find the best product for your needs. Looking for insurance is jungle of options, so nice to have someone to direct you. An no stress experience.
Shirley Hartling
Agents were very courteous, helpful, and processed the purchase of my policy in excellent time. The cost of the policy was very competitive. I would use Allianz again with no quandaries.
Ken Zwicker
Russell Anderson
Michele Hicks
very easy and polite to deal with
Gail Levangie
While the customer service agents were great and very helpful - Maria and Eric -Trying to get access to the documents was extremely frustrating. Entered the password at least 6 times all rejected. Want info before I leave.. don’t want to deal with this in the event of an emergency
Morris MacKay
I was treated with the upmost respect and kindness by Dornaz. Very professional.Thank you so much
Marlene
Very good and thorough serviceThank you
Gary Oliver
The lady (Christine) who we spoke to about the health/dental insurance was very helpful and friendly. She was very knowledgeable. She was very pleasant and made the whole conversation easy. She was very easy to understand. Thanks
Robin
Great service! Friendly & fast service! Dornaz made sure I had the best price
Joseph Szucsik
Kim Marcotte
Christine was very professional and answered all my questions. I felt very much at ease and feel l made the right choice goingvwith Manulife Insurance.Thank you Christine
PAT BEAUDOIN
I called for a quote on getting travel insurance for my upcoming trip to the US, Dornaz from Alliance Income was such a pleasure to deal with! She was thorough and got me a great deal, I will definitely recommend her and the company to others.
Rossana McTavish
Great service. Quick and efficient quote and very well priced. Sehar B. was excellent to deal with.Allianz was the first to send out the quote from a list of companies I contacted.
Ray Irwin
Knowledgeable, fast and courteous
Roger Patton
Filipe P. was my Allianz Rep. on this Emergency Medical trip insurance transaction. I had a great experience booking this insurance through Felipe. He was very courteous, efficient and helpful and provided me with all the information I needed to complete the transaction. Thank you Filipe for being a very good representative for your Company.
Josh Dew
We dealt with Dornaz for our travel insurance for our family of 5. She got us amazing insurance. At a great price. A piece of mind for my wife and I to take the kiddos on a 3 week vacation! Thank you Dornaz we very much appreciated all your help!!
Don Lajeunesse
Azaria was very helpful as she explained every step in a way I could understand. Eric was equally as knowledgeable and helpful. Thanks again Azaria and Eric.
Debbie McNeil
It was quick and painless. The girl that took care of me was well spoken and knowledgeable. I would definitely deal with this company again.
Bhaskar Reddy
Excellent
Jamin Mast
Eric was very respectful and made it very clear and simple. I would highly recommend.
Alaa Mahgoub
Excellent representative
Van Hai Nguyen
Fast
Mala Sahai
Friendly prompt service
Mona Lee Currie
Twice today, I interacted with Daniel, insurance agent extraordinaire. He found insurance for my husband, who has a few health problems. We also discussed various ways of making the policy more cost effective. I feel very comfortable discussing various ins and outs of my policy. He always let's me know all the things I need to know so that I don't run onto trouble of any kind. Our insurance this time is with Allianz.
Zack Kunkel
Very helpful and had no complications
Krystyna Skwira
Ivy Blue
He was easy to talk to when asking questions. He was very clear when explaining the product he made it easy to want to invest in my self.
Hemantkumar Godbole
I am happy about the service from Ummi Hanny her honest service surely assets for her company i wish Ummi good luck and happy new year
Francois Wentzel
Ruth Matthews
Frances Wong
Sahar was a pleasure to work with. Her patience and calm demeanor were admirable. I asked her to give me time to compare prices and every time she called me back when I had asked her to (at least 5 times over a period of months). Her knowledge and advice on various options for me made the decision a bit easier to make.
Josh Dale
Terrible! I wouldn’t even leave a star, but you have to at least choose one!I had submitted an insurance policy, and as it was still pending, I cancelled (a few hours later) - over email. I did not receive an email back! I have since sent 2-3 more emails and inquiries from their website to cancel the pending policy. No response!I go on my online banking, and was charged 100+ dollars (which is what I was trying to avoid). I tried to inquire about it, no response!On top of that, I got charged the money - and have not been contacted by a single broker, have not received a single package, have not received any information whatsoever, so basically I got charged money for nothing!Terrible! I do not recommend!
Richard Lean
First time booking travel insurance for myself, and not sure what to look for. Contacted Insurdinary on line one evening and they responded next day. Vary happy with first contact, Ummi and information supplied. Received a quote, very quickly, and advised I would check with my daughter first (I'm 82 years old). Ummi called back next day and everything arranged at a very nice price. Highly recommended, from a happy old man.