Sagicor No Lapse Universal Life Insurance Review

Sagicor ranks in the top half of our 2020 guide to guaranteed universal life insurance companies.

Quick Summary: If you are under the age of 66 and don't want to take a medical exam, Sagicor may be a good option for a "no lapse" universal life policy. Rates are very cheap in the lower amounts (up to 100K). Underwriting has turned increasingly strict in recent years resulting in more declines and delays. 

About the Company - Sagicor

Sagicor company logo

While not as well known as larger companies like AIG, Sagicor has been in business for over 175 years and is were one of the early pioneers in the no exam insurance market.

The Sagicor Financial Corporation receives a high rating of A- from A.M. Best. This means they have demonstrated financial strength and are a strong bet to meet future obligations including death benefit payouts.

Don't shy away from them just because you don't see the name in advertising everywhere. This is a strong life insurance carrier with innovative products.

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What is Guaranteed Universal Life Insurance? (expand to learn more)

About the Sagicor Guaranteed Universal Life Insurance Policy

Product Name

Sage No Lapse Universal Life Insurance

Death Benefit

$25,000 to $10M or more


15 days old to 85 years old

Coverage Length

To age 120

Sagicor Underwriting Secrets

Sagicor was an early leader in quick and efficient digital underwriting. They were one of the first come out with products that could have approval decisions the same day, sometimes as quick as 15 minutes.


The secret to finding the cheapest life insurance rates is applying at the company that will view you most favorably.  Just going with the one that shows the lowest rates can be a BAD idea and end up costing you more money.

A quick decision does require no negative marks on the electronic database checks they do including:

  • MIB - The Medical Information Bureau report is like a credit agency for insurance companies. They store and share information about previous applications you have made with other companies.
  • RX check - Prescription database history
  • Motor Vehicle Report - Your driving record, speeding tickets, DUI's, etc.

If any hits turn up on these reports, it will slow the process down as an actual human underwriter will need to review the information and may request supporting documentation.

Recently, we are seeing an increase in declines from Sagicor and this may be due to new sources of "big data" underwriting they are checking such as financial and credit history.

Will a Medical Exam be Required?

Sagicor prides itself on their no exam business and it IS possible to be approved for the Sage No Lapse Universal product without needing to submit to an exam. However, if anything turns up in the digital checks, you may be bumped from "accelerated" underwriting over to traditional full underwriting. This is not necessarily a bad thing, it just means it will take more time to get a decision and offer of life insurance.

If you over the age of 65, no way around it, you'll have to take a medical exam.

Available Health Ratings at Sagicor

In their drive to keep things simple, Sagicor has created a weakness. They only offer 2 main health classes, Standard and Preferred. Most other insurance companies offer additional health classes. The problem here is that your good health might not be fully rewarded at Sagicor if you fall in between their available health ratings.

For fully underwritten policies, Sagicor does offer sub-standard levels known as Table Ratings. Like other carriers, these are more expensive and account for health challenges in your history.

Cost - Sample Rates

Note: Sagicor only offers their NLUL policy up to age 120. They do not have options for age 90, 95, 100, or 110 like Banner or Mutual of Omaha do.

Sample Sagicor guaranteed universal life insurance quotes:

50-year-old male at Preferred health class - pricing listed is per month

Death Benefit

to Age 120









45-year-old female at Preferred health class - pricing listed is per month

Death Benefit

to Age 120









Our custom quote tool on this page displays only guaranteed universal quotes so you can cut through the clutter. Please note that some carriers do not allow us to display their rates online. We will discuss if there are other options that might be a better fit.

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Super fast underwriting without a medical exam is available up to $400,000

Some of the lowest premiums available for the lower coverage amounts (if you qualify)

Can get as little as $25,000 death benefit on a GUL policy


No return of premium option

Limited health class ratings offered

Strict underwriting in many cases (depends on situation)

Extras, Options, and Flexibility

Sagicor's GUL policy does allow for some of the same flexibility you typically find at other companies. This includes the ability to take policy loans (with interest) and customize with riders to meet your needs.

Automatically Included at No Extra Cost

Death Benefit Options - Set up face amount of the policy one of two ways:

  1. Have a guaranteed level death benefit amount that is the same on day 1 as it is at age 101. 
  2. Choose an increasing death benefit which is equal to the original face amount plus the accumulation value.

Accelerated Benefit Insurance Rider - If the insured is diagnosed with a terminal or chronic illness, you can take a portion of the death benefit early, while still living to help with costs and emotional stress. Access between $5,000 and $400,000 which will be subtracted from the eventual death payout.

Additional Options - At a Cost

Customize the Sage NLUL policy with additional options. These riders will increase the cost of your premiums.

Accidental Death Benefit Rider - Your beneficiaries receive an extra amount of money in the event of a covered accidental death. You pick how much extra, between $25,000 and $250,000. The cost is approximately 12 cents per month for every $1,000 added.

Children's Term Rider - Add a small term life insurance policy to eligible household children between $2,000 and $20,000. Expect to pay 52 cents per month per $1,000 of coverage on the child.

Waiver of Monthly Deductions Rider - Have your premiums payments and all policy charges waived in the event of becoming disabled. This keeps your coverage in place even when you can't pay it. 

How To Make Sure You Choose the Right Guaranteed Universal Life Insurance Policy

The best advice I can give is to always work with an independent agent. If you call a company direct, they'll only push their products on you, and you save nothing. Rates are fixed by your state laws.

Life insurance is the ONLY thing we do. We know the ins and out of 60+ companies and can find you the lowest rates. Every. Single. Time.

To get started, fill out a quote request and we'll be in touch soon to help.

independent life insurance agents helping to secure affordable life insurance coverage

No pressure or cost to use our help.

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  • Ty Stewart

    Ty Stewart is a founder and contributor of He started researching and studying about life insurance when he got his first policy for his own family. He has been featured as a life insurance expert speaker at agent conventions and in top publications. As an independent licensed life insurance agent he has helped clients nationwide to secure affordable coverage while making the process simple. Stewart Ty
  • Bennett Bier

    I’m Bennett Bier, owner, author and fact checker of Simple Life Insure. I believe working with a small independent broker offers consumers more personal attention and superior customer service. As an independent agent licensed in all 50 states and the District of Columbia I have access to many of the top A+ rated life insurance carriers. This lets me locate a plan that you will qualify for while saving you money at the same time. Over the years I have mastered the art of underwriting, getting approvals even for my highest risk clients. I’m also likely the person that will answer the phone when you call. Bier Bennett