InsuredBetter's Global Atlantic Financial Group Score
2.5 Stars
We award Global Atlantic Financial Group a final rating of 2.5 out of 5 stars. The insurance company’s coverage is offered in all 50 states, and it has excellent ratings through AM Best and the Better Business Bureau (BBB). However, the carrier is not BBB-accredited and has had several customer complaints filed through it within recent years. The carrier also loses points because it no longer sells life insurance products and now focuses on just annuities.
Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent, privately held company in 2013. In February 2021, KKR, a global investment firm, acquired a majority ownership stake in Global Atlantic, which operates as a subsidiary and standalone business. Global Atlantic is a privately held firm.
Global Atlantic Financial Group falters in its customer service availability and outdated claims and application process. While personal service is nice, wading through clunky phone prompts and limited availability of claims information can make asking a simple question or filing a claim frustrating for customers. Overall, we suggest looking into other options for annuities and life insurance with the help of your independent insurance agent.
Global Atlantic Financial Group Pros and Cons:
| Pros: | Cons: |
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A majority-owned subsidiary of the KKR public company
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Not BBB-accredited
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Offers a variety of annuities for individual and institutional clients
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No claims process information provided
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“A” (Excellent) rating by AM Best
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No online claims reporting
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“A-” (Excellent) rating by the Better Business Bureau (BBB)
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No longer sells life insurance products
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Network of independent insurance agents
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Negative customer feedback and complaints
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Global Atlantic Financial Group Insurance Products by Type
Global Atlantic offers a variety of annuities for individuals and businesses. It no longer sells life insurance. The carrier's products include:
Annuities:
- Fixed annuities
- Fixed index annuities
- Income annuities
- Variable annuities
- Hybrid fixed annuities
- Registered index-linked annuities (RILA)
Global Atlantic Financial Group Annuities Average Prices
Global Atlantic Financial Group does not make information about its average annuity rates readily available. An independent insurance agent can help you obtain quotes from Global Atlantic Financial Group.
What Discounts Does Global Atlantic Financial Group Offer?
Global Atlantic Financial Group does not publish information about its specific discounts. An independent insurance agent can provide better cost-saving information and premium quotes for coverage through Global Atlantic Financial Group. When it comes to coverage, independent insurance agents work hard to help get you the most for your money.
Global Atlantic Financial Group Customer Service
Global Atlantic allows customers to file claims over the phone, Monday through Friday, during business hours. The carrier provides the following customer service options and availability:
- Phone
The customer service phone department has the following hour restrictions:
| Days | Hours (CST) |
| Monday - Friday | 7:30 a.m. - 5:00 p.m. |
| Saturday | CLOSED |
| Sunday | CLOSED |
The best way to handle your customer service needs is to work with an independent insurance agent. These agents help make customer service easier for you by handling claims and other concerns.
Global Atlantic Financial Group Insurance FAQs
What is Global Atlantic Financial Group's average claim response time frame?
Global Atlantic Financial Group does not provide information about its claim response time frame. The carrier provides information about how to file, but not about its claims process.
What is Global Atlantic Financial Group's customer service availability?
For its life insurance customers, Global Atlantic Financial Group offers claims reporting over the phone Monday through Friday during business hours. The phone line for customer service issues is available during generous hours, Monday through Friday.
What is Global Atlantic Financial Group's claims process?
Global Atlantic Financial Group publishes little information about its claims process. Existing life insurance customers who need to file a claim must call customer service at 877-462-8992 and follow the prompts to reach the claims department.
Does Global Atlantic Financial Group create a user-friendly experience for customers?
Global Atlantic Financial Group’s official website is easy to navigate, but it contains limited information on the carrier's products or services. The website offers detailed explanations and videos about certain types of life insurance products and how they can be beneficial. Detailed information and quotes are best obtained by speaking with an independent insurance agent or calling the company directly.
Certain useful forms are also available online. The carrier has a limited presence on social media, only on Facebook and LinkedIn. Overall, Global Atlantic Financial Group falls short in the user-friendliness department.
Does Global Atlantic Financial Group have good life insurance?
Global Atlantic Financial Group no longer sells life insurance. The carrier only sells annuities now. However, existing life insurance customers can still access their coverage.
Is Global Atlantic Financial Group a good insurance company?
Global Atlantic Financial Group is a relatively new life insurance company, but it has received high ratings from AM Best and the BBB. It is a financially strong company with an experienced leadership. Its strength may be further bolstered by its recent acquisition by KKR.
Accordia Life and Annuity Co. and Forethought Life Insurance Co. are subsidiaries of Global Atlantic Financial Group Limited. Accordia issues indexed universal life insurance.
Forethought issues whole life insurance policies for funeral expenses through funeral homes. The products are all marketed under the Global Atlantic brand. Customer reviews are hard to come by for the Global Atlantic Brand, but there are several BBB complaints for the affiliate companies.
Who are Global Atlantic Financial Group's insurance products right for?
Global Atlantic Financial Group's insurance products may be right for individuals or professionals in search of annuities. Coverage is available nationwide.
Sources
https://www.globalatlantic.com
https://www.bbb.org/us/in/indianapolis/profile/insurance-companies/global-atlantic-financial-group-0382-7000523
https://news.ambest.com/newscontent.aspx?refnum=260256&altsrc=23
https://www.nerdwallet.com/p/reviews/insurance/accordia-life-insurance
