Atlantic Financial Group Life Insurance Review [2024]

The Atlantic Financial Group offers New York Life Insurance Company protection for customers interested in buying term life or permanent life insurance. In addition to various coverage options, the company provides riders to customize a policy.

Learning more about Atlantic Financial will help you determine if this company is the best choice for your needs.

Before beginning this Atlantic Financial review, enter your ZIP code to find free life insurance rates in your area.

What are the Atlantic Financial Group life insurance rates?

Life insurance companies use several factors to determine an applicant’s risk, and more precarious customers will experience higher rates. Some of these factors include:

• Age
• Gender
• Health
• Family history
• Location

It’s impossible to determine the cost of coverage without knowing specific information about an applicant. However, comparing the average rates from other companies will indicate the cost of Atlantic Financial life insurance.

The following chart reveals the average Atlantic Financial life insurance rates for a 20-year term at $250,000 based on age and gender.

Atlantic Financial Average Male Monthly Rates for a 20-Year Term at $250,000 Based on Age

The chart below displays the same information for females.

Atlantic Financial Average Female Monthly Rates for a 20-Year Term at $250,000 Based on Age

As you can determine from these sample life insurance rates, the average cost of Atlantic Financial coverage is lower for females than for males. Additionally, rates increase as customers age.

Compare Quotes From Top Companies and Save

 Secured with SHA-256 Encryption

What coverages are offered by Atlantic Financial Group?

As previously mentioned, Atlantic Financial Group provides life insurance through an affiliation with the New York Life Insurance Company. The company offers term, whole, and universal life options. Additionally, there are suboptions for each type of coverage.

Term life insurance is available in 10- to 20-year terms and for customers between the ages of 15 and 75. In addition, the three different term life options are convertible, allowing customers to transform a short-term plan into a permanent life policy.

The Yearly Convertible plan allows customers to renew their policy annually. This policy has a maximum value of $250,000, and initial rates for this plan are quite low. However, they increase each year upon renewal.

Like the Yearly Convertible option, the Level Premium Convertible plan is available for customers between 15 and 75 years old and has a maximum value of $250,000. This policy includes a level period in which rates will remain the same. However, rates increase annually after the period expires.

The Million Plus Level Term 10 plan is a 10-year term beginning at $1 million or more. The policy features consistent rates throughout the plan but is limited to 10 years. As a result, the rates for this policy are higher than any other option.

Whole life insurance allows customers to purchase permanent life coverage with a cash value. The rates for this type of policy remain the same, and some customers can earn dividends on the policy over time.

Atlantic Financial and New York Life offer two whole life plans. Both policies provide a cash value and possible dividends. The main difference is that the basic whole life plan offers consistent rates, and the customized whole life option provides flexible rates.

Atlantic Financial and New York Life offer four different universal life plans. Similar to whole life insurance, universal life policies feature a cash value. However, these plans protect you for an extended time frame and are more flexible.

The Universal Life Basic plan is a good option for customers on a budget. Policyholders can customize the policy’s coverage amount, duration, and rates. This plan also offers the lowest coverage amount of the four options, which results in more affordable rates.

The Custom Universal Life Guarantee plan is similar to whole life insurance in that customers will pay a set amount for the entirety of the policy. However, they have more coverage options than those available with a whole life plan.

The Protection Up to Age 90 plan is the most cost-effective policy for long-term coverage. The minimum value is $1 million, so this plan’s lowest rates are higher than any other permanent life plan.

The fourth type of universal life coverage is variable universal life. This policy allows customers to invest their cash value in separate accounts, like a mutual fund. This plan features more risk but a potentially higher reward.

In addition to life insurance, customers can purchase New York Life and Atlantic Financial annuities to assist them with retirement planning. These options derive from New York Life, but Atlantic Financial advisors can help locate the appropriate plan.

Atlantic Financial sells some New York Life products but also provides its own. Common Atlantic Financial services include succession planning, key person insurance, and estate planning for customers to protect their families’ future.

Does Atlantic Financial Group offer any riders?

Most life insurance companies provide options that customers can add to a basic policy. These options are called riders and allow policyholders to customize a policy to meet their needs.

Atlantic Financial and New York Life offer various riders to include with their policies. The following table discloses the riders available and a description of each one.

Atlantic Financial Riders

Atlantic Financial and New York Life provide more riders than most competitors. However, attaching riders to a policy will increase your monthly rates.

How is Atlantic Financial Group rated?

Credit rating agencies review and rate insurance companies according to their financial strength. These ratings allow customers to determine if they’ll receive a payout when they file a claim.

Unfortunately, credit rating agencies haven’t assessed Atlantic Financial. However, they have reviewed New York Life. And viewing the New York Life ratings will allow those considering purchasing coverage from Atlantic Financial to determine if they’ll receive a payout.

New York Life has been rated an A++ by A.M. Best, an AA+ by S&P 500, an AAA by Fitch Ratings Company, and an AAA by Moody’s Corporation. These ratings are among the best in the industry and indicate that policyholders will receive a payout when they file a claim.

Compare Quotes From Top Companies and Save

 Secured with SHA-256 Encryption

Does Atlantic Financial Group have any complaints?

The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about insurance companies. These reviews allow customers to determine a company’s quality of service.

At the time of this review, the BBB hasn’t received any complaints about Atlantic Financial. However, within the past three years, the BBB has received 118 complaints about New York Life. Additionally, the BBB has rated Atlantic Financial an A+ and New York Life an A-.

The NAIC hasn’t reviewed Atlantic Financial but has reviewed New York Life. According to the NAIC, New York Life has 24 complaints and a complaint index ratio of 0.16. These numbers indicate that New York Life has had far fewer complaints than a similarly-sized company.

How can you buy Atlantic Financial Group life insurance?

Atlantic Financial Group doesn’t provide much information on how to purchase coverage. However, the company offers a phone number to enable customers to buy insurance. You can reach an Atlantic Financial representative at 443-249-3311.

How can you file Atlantic Financial Group claims?

Since Atlantic Financial Group sells insurance through New York Life, the latter company handles the claims process. You can find a link to the New York Life claims page via the NYL Service Center section of the Atlantic Financial website.

New York Life allows customers to file claims by phone, via mail, or online. The easiest way to file is typically online. The company’s claims page has an online form for customers to file a claim quickly.

Customers can also download and print out a death benefit proceeds form from the New York Life website. After reading the instructions and completing each section, beneficiaries can send the form to the following address:

New York Life Claims and Benefits
P.O. Box 130539
Dallas, Texas, 75313

The New York Life website provides life insurance and annuity forms on the same page. If you’re uncertain as to whether you need an Atlantic annuity or a life insurance form, the page features a link to ask a representative.

Customers that prefer to speak with a representative can file claims over the phone. The company’s claims number is 800-225-5695, and representatives are available Monday through Friday from 8 a.m. to 7 p.m. (EST).

Compare Quotes From Top Companies and Save

 Secured with SHA-256 Encryption

How can you make Atlantic Financial Group payments?

Customers that purchase life insurance from Atlantic Financial Group can make payments through New York Life. The Atlantic Financial website features a link to the payment page for New York Life, making it easy to locate the necessary section.

New York Life only offers online payments through the quick pay method and by logging into their account. The payment options are either by debit card or credit card.

Who is Atlantic Financial Group?

Brett M. Sause began Atlantic Financial Group in 1999 to provide financial services for families. The company is based in Easton, Maryland, and provides advice on wealth preservation, distribution, accumulation, and risk management.

The company is separately owned and operated from New York Life but has an affiliation, allowing it to sell New York Life coverage. As a result, Atlantic Financial sells New York Life insurance and annuities to customers.

Atlantic Financial Group: The Bottom Line

Atlantic Financial Group sells life insurance through its affiliation with the New York Life Insurance Company. Customers can buy term, whole, and universal life coverage. Additionally, the company has few complaints, indicating customer satisfaction.

Learning more about Atlantic Financial will help you decide if the company is right for you.

Now that you have reviewed Atlantic Financial Group, enter your ZIP code to obtain free life insurance quotes in your area.

Compare Quotes From Top Companies and Save

 Secured with SHA-256 Encryption