Mutual Trust Life vs Assurity
🛡️ Mutual Trust Life vs. Assurity Life Insurance Comparison
If you’re searching for affordable life insurance with long-term reliability, Mutual Trust Life and Assurity are two lesser-known but reputable companies that offer solid value. This comparison breaks down how they differ across key categories to help you choose confidently.
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🏢 Company Overviews
Mutual Trust Life Insurance Company is a wholly owned subsidiary of Pan-American Life Insurance Group. Founded in 1904, Mutual Trust is known for its participating whole life policies and conservative, stable approach to life insurance planning.
Assurity Life Insurance Company, based in Lincoln, Nebraska, has roots dating back to the 1890s. A Certified B Corporation, Assurity emphasizes ethical practices, innovation, and accessible coverage like simplified issue life insurance and disability income.
💼 Financial Strength & Ratings
| Rating Agency | Mutual Trust Life | Assurity Life |
|---|---|---|
| AM Best | A (Excellent) | A- (Excellent) |
| S&P / Moody’s | Not Rated | Not Rated |
🔎 Mutual Trust holds a slightly higher AM Best rating, but Assurity is also financially stable and noted for its social responsibility and innovation.
📋 Policy Types Offered
| Policy Type | Mutual Trust Life | Assurity Life |
|---|---|---|
| Term Life | ✅ Yes | ✅ Yes |
| Whole Life | ✅ Participating | ✅ Non-participating |
| Universal Life | ❌ Not offered | ✅ Yes |
| Indexed Universal | ❌ Not offered | ✅ Yes |
| Final Expense | ❌ No | ✅ Yes |
| Simplified Issue | ⚠️ Limited | ✅ Strong offering |
💡 Mutual Trust specializes in long-term whole life, while Assurity offers a more flexible product lineup, including final expense and no-exam options.
🔄 Coverage Options & Flexibility
Mutual Trust focuses on traditional permanent life insurance with strong dividend potential, ideal for long-term planning.
Assurity provides more customizable, accessible coverage, especially for applicants seeking simplified underwriting or niche riders (e.g., return of premium, disability income).
✅ Choose Assurity for versatility. Choose Mutual Trust if you’re focused on cash value accumulation and guaranteed returns.
📝 Underwriting & Application Process
| Feature | Mutual Trust Life | Assurity Life |
|---|---|---|
| No-Medical Exam Options | ⚠️ Limited | ✅ Widely available |
| Accelerated Underwriting | ❌ Manual process | ✅ Available for term/simplified |
| Online Application | ❌ Agent-driven | ✅ Available for some products |
| E-Signature Support | ✅ Through agents | ✅ Yes |
💻 Assurity has a clear edge in modern, user-friendly application processes and fast approvals.
💲 Pricing & Affordability
Mutual Trust offers competitive pricing for participating whole life, but may not be as cost-effective for term coverage.
Assurity is known for affordable term and final expense products, with strong pricing in the simplified issue space.
💸 If term or final expense affordability is key, Assurity wins. For long-term wealth protection through dividends, Mutual Trust is stronger.
🔄 Alternatives to Consider
Lafayette Life – Another dividend-paying mutual company for whole life
SBLI – Affordable term with no-exam options
Foresters Financial – Great member benefits and simplified underwriting
American Amicable – Known for flexible final expense and term plans
🛠️ Riders & Customization
| Rider | Mutual Trust Life | Assurity Life |
|---|---|---|
| Accelerated Death Benefit | ✅ Yes | ✅ Yes |
| Waiver of Premium | ✅ Yes | ✅ Yes |
| Children’s Term Rider | ✅ Yes | ✅ Yes |
| Return of Premium Rider | ❌ | ✅ Yes (Term) |
| Disability Income Rider | ❌ | ✅ Yes |
| Accidental Death Benefit | ✅ Yes | ✅ Yes |
🔧 Assurity offers more modern rider options, especially for term and supplemental coverage. Mutual Trust sticks to the basics.
🎯 Best For…
Mutual Trust Life is best for:
Clients who want long-term whole life with dividends
Individuals planning for cash value growth and stability
Traditional buyers who prefer agent guidance
Assurity is best for:
Budget-conscious individuals looking for affordable term or final expense
Clients who want quick, no-exam coverage
Those seeking a values-based, flexible insurer
📊 Pros and Cons (Comparison Table)
| Feature | Mutual Trust Life | Assurity Life |
|---|---|---|
| AM Best Rating | A (Excellent) | A- (Excellent) |
| Term Life Affordability | ⚠️ Higher | ✅ Competitive |
| Whole Life with Dividends | ✅ Strong | ❌ Limited |
| Final Expense Coverage | ❌ Not available | ✅ Yes |
| No-Exam Options | ⚠️ Few | ✅ Widely available |
| Online Application | ❌ No | ✅ Yes |
| Living Benefits | ✅ Yes | ✅ Yes |
| Return of Premium Option | ❌ Not available | ✅ Available |
🤝 Customer Experience & Support
Mutual Trust Life is known for stable service through agents and clear policy structure, especially for traditional clients.
Assurity provides a modern digital experience, strong customer support, and fast turnaround times for quotes and applications.
🏁 Final Verdict
✔ Choose Mutual Trust Life if:
You want permanent whole life with dividends
You value long-term guarantees and cash value
You prefer working directly with agents
✔ Choose Assurity if:
You’re looking for budget-friendly term or final expense
You want digital convenience and no-medical-exam options
You value flexibility, speed, and social responsibility
💡 How to Get a Quote or Apply
Mutual Trust Life: Available through licensed independent agents. Visit their website or connect with a broker who offers Mutual Trust products.
Assurity: Visit assurity.com for a quote, or apply online via digital brokers and independent agents.
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Read More💬 Frequently Asked Questions
Which company is more affordable: Mutual Trust Life or Assurity?
Assurity generally offers more competitive pricing for term and final expense policies, while Mutual Trust is more focused on long-term value through participating whole life.
Does Mutual Trust Life offer no-medical-exam life insurance?
Mutual Trust has limited no-exam options and typically requires traditional underwriting for most policies.
Can I apply for Assurity life insurance online?
Yes. Assurity offers online applications and digital tools for select products, making the process more accessible and convenient.
Which company offers whole life policies with dividends?
Mutual Trust specializes in participating whole life insurance with dividend potential. Assurity does not focus on dividend-paying policies.
Is Assurity a good option for final expense coverage?
Yes. Assurity is well-known for affordable and accessible final expense and simplified issue policies.
Do both companies offer living benefits?
Yes. Both Mutual Trust and Assurity include accelerated death benefits (living benefits) for terminal or chronic illness in many of their policies.
Which company offers more policy customization and riders?
Assurity provides more modern rider options, including return of premium and disability income riders. Mutual Trust includes standard riders but fewer advanced options.
Are Mutual Trust and Assurity financially stable?
Yes. Mutual Trust holds an A rating from AM Best, and Assurity holds an A- rating, indicating strong financial health for both.
Who should choose Mutual Trust over Assurity?
Choose Mutual Trust if you want a long-term whole life policy with dividend potential and prefer working with an agent.
Who should choose Assurity over Mutual Trust?
Choose Assurity if you need flexible, affordable term or final expense coverage, prefer digital tools, or want simplified underwriting.
Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent