The Canadian Insurance Company we shall discuss in this article is “Assumption Life”. To aid the better understanding of the topic, we shall also study these subtopics: History Of Assumption Life, Profile Of Assumption Life, Financial Record Of Assumption Life, Subsidiaries Of Assumption Life, Assumption Life Customer Service, Assumption Life Incentives, Assumption Life Insurance Company Review, Advantages Of Assumption Life Insurance, Disadvantages Of Assumption Life Insurance and Forms Of Insurance Offered By Assumption Life.
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Table of Contents
- 1 History Of Assumption Life
- 2 Profile Of Assumption Life
- 3 Financial Record Of Assumption Life
- 4 Subsidiaries Of Assumption Life
- 5 Assumption Life Customer Service
- 6 Assumption Life Incentives
- 7 Assumption Life Insurance Company Review
- 8 Advantages Of Assumption Life Insurance
- 9 Disadvantages Of Assumption Life Insurance
- 10 Forms Of Insurance Offered By Assumption Life
- 11 Conclusion
History Of Assumption Life
Assumption Life also called Assumption Mutual Life Insurance Company, is a Canadian insurance company that specializes in life insurance and asset management. The headquarters is located at Moncton, New Brunswick.
In the year 1903, Acadians founded the Assumption Life in Massachusetts. Then, it bore the name la Société l’Assomption. Initially, the company functioned as a fraternal society before changing to a mutual organization. It was not until 1972, that the company occupied its new head office in Moncton, Assumption Place. No other building in the city was taller than it.
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Profile Of Assumption Life
- Trade Name – Assumption Life
- Native Name – Assomption Compagnie Mutuelle d’Assurance-Vie
- Type – Mutual Company
- Industry – Insurance
- Founded – 1903; 120 years ago in Waltham, Massachusetts
- Headquarters – Moncton, New Brunswick
- President – Sebastien Dupuis
- Workers – 339
Financial Record Of Assumption Life
- Revenue – CA $105.7 million (2007)
- Operating Income – CA $7.2 million (2007)
- Net Income – CA $4.1 Million (2007)
- AM Best Rating: A–
- Better Business Bureau Accreditation and Rating: A+
- Assets: $2.1 billion
- Annual Premiums: $170 million
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Subsidiaries Of Assumption Life
Below are the companies that Assumption Life control:
- Louisbourg Investments Inc., is an investment company that deals on portfolio management with over 1.4 billion dollars of assets under management.
- Assumption Place Ltd., is a company that deals in real estate which owns the company’s head office in Moncton (Assumption Place). It also owns other properties in Moncton and Edmundston, New Brunswick.
- Atlantic Holdings (1987) Ltd.
Assumption Life Customer Service
The customer service number of the Assumption Life is 1-855-244-7010. You can reach out to them for any inquiry at all.
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Assumption Life Incentives
This insurance company prioritizes the payment of substantial salaries to its workers. Also, they offer bonuses to their employees depending on how good you work. Last but not the least, the company makes policies and carry out measures that will be conducive for its workers.
Assumption Life Insurance Company Review
The main duty of the Assumption Life, is to make available, various term life insurance options that are not rigid. Meanwhile, there are five distinct products that are non-medical life insurance policies available to the public. On the other hand, Assumption Life offer life insurance policies that are not rigid and can take care of a wide range of amount.
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Advantages Of Assumption Life Insurance
- Wide range of term coverage options
- Easy and flexible, non-medical issue options
- Fast and stress-free electronic process
- Decreasing option available for mortgage coverage
- Availability of online access to account
- Digital e-policy
- Exchange and conversion options let policyholders convert to longer term or permanent coverage
Disadvantages Of Assumption Life Insurance
- Non-clarity of breadth of options
- Costly policy and rider fees on non-medical policies
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Forms Of Insurance Offered By Assumption Life
The Assumption Life Insurance offer; Term Life Insurance options, Permanent Life Insurance and Critical Illness Insurance options.
There are various term life insurance options under the Assumption Life Insurance. It comes with many products for people that wouldn’t want a medical examination to access the products. Those various term life insurance options are:
- FlexTerm
- Golden Protection Elite Term
- Platinum Protection Term
- Youth Plus
A permanent life insurance policy gives you insurance coverage till death. You are sure of your premiums as long as you keep up with the payments. There are two forms of permanent life insurance under Assumption Life Insurance: participating and non-participating permanent insurance policies.
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More Information
On the aspect of critical illness insurance, you are sure that, once you fall ill to a specific disease, your bills are covered. This coverage is available for a period of time also known as term length, and you determine it when purchasing the policy. Assumption Life Insurance offers one critical illness insurance policy called Critical Protection.
Conclusion
We just finished discussing the Canadian Insurance Company called Assumption Life. I believe you understood this article very well. However, you can carry out more research work on the topic to get more information.
See Also: https://www.assomption.ca/
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