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.
Awesome customer service!!! Highly experienced, knowledgeable and very attentive. Friendly and efficient. Eric dealt with my inquiry promptly and with much patience. I highly recommend this insurance company. Thank you so much Eric!
Arya Surendran
Philip Siggelkow
A pleasant expierence, informative and helpful. The $500 deductible was a good option.
george poitras
This lady is the best!!!
Doug Hunter
Great courteous service by Dornaz.
Keith Barnes
I found the agents I spoke with to be very helpful and thorough.
Henry Kamphof
Yesterday with the assistance of Dornaz we were able to finalize and pay for our emergency medical insurance for travels to Portugal Spain and Italy this fall time. Everything went smooth and was pleased with the insurance packages provided.
Carol Shapiro
I dealt with Dornaz re purchasing trip cancellation insurance. She was prompt in her responses to me and followed up with a phone call to address any of my questions. It was a pleasure working with her. Thank you.
colleen green
Dornaz was excellent ! I found her when i googled medical insurance, plus another client referred her. I couldn't be happier and definitely refer her to anyone who needs travel insurance. The whole thing took less than 10 minutes! Thank you, Dornaz, You are the best! Colleen from Canada.
Paul Rosenthal
Cathy S
Best deal for Seniors needing travel insurance! Very pleasant experience resulting in amazing price! Thank you!!
Helene Marchand
We had excellent service with Eric. You are lucky to have him as an employee. He was very patience with us ( we are seniors) and very helpful.
Bill Buchanan
Artmiz is extremely knowledgeable about the product. She had all the answers right at her fingertips, which was most helpful and efficient. There was no waiting for a quote, everything was fast, convenient and, I believe, cost-effective. The whole process was a good experience.I checked out several other industry providers and found yours to be by far the best, in terms of convenience, friendliness, and a very knowledgeable agent.Bottom Line...On a scale of 1 to 10...A solid 10.Many Thanks, Bill Buchanan
Carrie Jamieson
Cathy Bentley
Eric was great to deal with. No pressure at all. He went through any questions I had and answered honestly...again NO pressure to get any policy and when I chose one he went through the questions and we sealed a policy that fit my needs.Thanks Eric!
Janice Sayer
Dornaz got back to me quickly with quotes, she was wonderful to speak with and found me the best price for my insurance
Edward McLain
Getting ins is no issue..if we need to use it..its unknown how you help us in support.Telephone call was very good.Thankyou for great satisfaction
Nicolas Ros
I AM VERY HAPPY WITH SHIWANI SERVICE. ATTEMPTIVE, PROMPT AND EFFECTIVE. THANK. SEE YOU AGAIN SOON.
James Milburn
Dornaz was very helpful and polite.
Mark Kunwar
friendly and helpful
Cora Peters
marie Hrynuik
Fay Greenholtz
Eric Clementi was very helpful
Bernard Madden
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
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.