Assumption Life

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President: André Vincent

AM Best Rating: A- (Excellent) 

Total Assets: $1.28 billion

Net Income: $4.55 million

Net Premiums Written: $91.64 million

Financial Size Category: VII ($50 million to $100 million)

FSR Outlook: Stable

Best's Credit Issuer Credit Rating: a-

ICR Outlook: Stable

As of Date: 02/27/13

Organization Type: Mutual

Specialty Lines of Business: Group Life Insurance, Individual Annuities, Individual Life Insurance

Marketing Type: Broker

*Information Courtesy of AM Best Key Ratings Guide 2013

Address:

Assumption Life
770 Main Street
P.O. Box 160
Moncton, New Brunswick
E1C 8L1

Toll Free: 1-800-455-7337
Phone: 506-853-6040
Fax: 506-853-5428

Web Address: www.assumption.ca
Email Address:

* Info courtesy of AM Best's Website 2011

* Assets expressed in thousands of dollars

Assumption Life has indisputably become one of Atlantic Canada’s major insurance and financial investment companies, with more than 75,000 policies in force. It was ranked 33rd out of Atlantic Canada’s top 101 companies.

Assumption Life offers a wide range of products, including individual life insurance, group insurance (life, health, dental, disability), critical illness, travel insurances, mortgage loans, financial services, annuities and segregate funds. Louisbourg Investments is an investment management and financial planning arm aimed at institutions, companies and individual portfolio holders, managing pension plans and pooled funds tailored to individual needs.

One of Assumption Life’s specialty products is Golden Protection life insurance, designed for people between the ages of 40 to 80. It can be obtained without medical examination; the insurance amount triples in the case of accidental death on public transport, and doubles in the case of accidental death. There is even competitive rates for smokers.

The company also has a real estate management arm, Assumption Place Ltd, which operates rental space in New Brunswick. Their holdings include Commerce Houses in Moncton and Château Edmondson. Furthermore, if in need of office space, Carrefour Assomption in Edmundston is home to many business, with an ultramodern conference centre.

The company’s community involvement is impressive, including the Assumption Foundation Scholarship Fund, support of breast cancer research in partnership with the Atlantic Cancer Research Institute, investing in the community through donations and sponsorships (particularly in education and health), and holding the Bobby Orr golf tournament. The company and its employees donate to the Tree of Hope, a non-profit foundation that offers emergency assistance to families who had experienced sudden tragic losses. The company also publishes a quarterly newsletter, The Confident Times. Their head office is located in Moncton, New Brunswick.

Assumption Life News

LSM Insurance is an independent Life Insurance Brokerage and is Not Directly Affiliated to Assumption Life.

Call us: 1-866-899-4849

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Assumption Life Policies

Pluses

1. An excellent Simplified Issue plan. Golden Protection their flagship non-medical life insurance plan is an excellent solution for individuals with health issues, especially among female non-smokers 60 years of age and up.
2. Their Flex Term policies have no medical tests on face amounts $250,000 and under. Ages 18 to 65. The plans are available on level or decreasing death benefit basis and their Flex Term 15 is very competitive at most face amounts and age groups.
 
Minuses 

1. They do not offer a Universal Life policy
2. They do not offer a Critical Illness policy

LSM Assumption Life Policy Reviews

8 Comments

  1. […] Term 30 policies. Some of the other insurers offering Term 30 policies in Canada include Assumption Life, BMO Life, Co-operators, Primerica Life Canada and Unity Life. Industrial Alliance also introduced […]

  2. andrew todd 05/30/2008 at 9:49 am

    hi my name is andrew todd and i have a long term disability claim through Federal Impressions Inc. my group # is 1462 and my cert. # is 1462000066. I am unable to perform my job and have been since dec. 15, 2007due to a stage 3 seperated ac joint in my right shoulder. i am ,however, able to perform light duty tasks.The dilema is that my employer does not have much light duty work for me to do and he would not be able to pay me the wages i was making prior to the accident. could you pleas advise me if assumption life will cover my wages untill i am able to perform my job once again. thanks. Andrew.

  3. LSM Insurance 05/30/2008 at 4:29 pm

    Hi Andrew,

    Thanks for your note. Unfortunately I am not the broker of record on your group account and do not have access to your policy paticulars. You would have to contact Assumption life directly. Their contact details are below.

    Regards … Lorne

    Assumption Life
    770 Main Street
    P.O. Box 160
    Moncton, New Brunswick
    E1C 8L1

    Toll Free: 1-800-455-7337
    Phone: 506-853-6040
    Fax: 506-853-5428

    Web Address: http://www.assumption.ca
    Email Address: [email protected]

  4. terry 08/04/2009 at 7:04 am

    $100,000 MALE 68 NON SMOKER NO MEDICAL TERM $100.000 FEMALE 60 NON SMOKER NO MEDICAL TERM $100,000 MALE 18 NON SMOKER NO MEDICAL TERM

  5. LSM Insurance 08/04/2009 at 10:24 am

    Hi Terry,

    Thanks for the note. Assumption Life’s flagship non medical plan is Golden Protection. The maximum face amount is $50,000. I will send you a seperate email shortly. Best Regards … Lorne

  6. Ian Spicer 02/23/2013 at 5:10 pm

    Do you hire LPN’s, I graduate from nusing school in june and am looking for insurance work.

  7. Jennifer 04/30/2013 at 11:40 pm

    I bought a 20 Pay policy with Empire Life and would like to look at a second plan.

  8. LSM Insurance 05/01/2013 at 12:32 pm

    Thanks Jennifer.

    We are happy to help. Empire Life does not offer a Non Participating 20 Pay policy but they do offer a Participating Whole Life policy. Industrial Alliance and BMO Insurance still offer Participating Whole Life plan. We will be in touch by email.

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