Atlantic Coast Life Insurance Company Reviews: Should You Trust This Provider?

Atlantic Coast Life Insurance Company has been providing life insurance and annuity products to families in the Southeast since 1925. But are their products and services truly worth considering? In this comprehensive review, we’ll take an in-depth look at Atlantic Coast Life, including its financial strength, product selection, customer service reputation, and more.

Overview of Atlantic Coast Life Insurance Company

  • Founded in 1925 and based in Charleston, SC
  • Offers life insurance and annuity products
  • Main markets are the Southeastern U.S.
  • Currently licensed to sell products in SC, NC, GA, FL, AL, LA, MS, TN, VA
  • Products are sold through independent insurance agents

Atlantic Coast Life is part of the larger Advantage Capital group of companies. It’s considered a midsize life insurance carrier, with $693 million in total assets according to its latest financial statements. The company specializes in selling annuities and preneed funeral insurance plans.

Atlantic Coast Life Financial Strength and Ratings

  • Rated B++ by A.M. Best (5th out of 15 possible ratings)
  • Not rated by other major agencies (S&P, Moody’s, Fitch)
  • A.M. Best rating indicates “good” financial strength and ability to pay claims

According to A.M. Best, Atlantic Coast Life has a “strong risk-adjusted capitalization” and a “favorable operating performance.” However, its rating is limited by factors like its “concentration of low cash flow producing insurance products” and its “geographic concentration of business” in the Southeast.

Overall, Atlantic Coast Life appears to be in decent financial standing, but not exceptionally strong compared to larger insurers with higher ratings. The lack of ratings from other agencies is also concerning.

Atlantic Coast Life Insurance Products


Atlantic Coast Life’s primary focus is on selling multi-year guaranteed annuities (MYGAs) and fixed indexed annuities. Its MYGAs offer guaranteed interest rates for terms between 3 and 10 years. These provide predictable growth with no risk of market losses.

Its indexed annuities provide the potential for higher growth when linked to stock market performance. But they include downside protections so the account value won’t drop if the market declines.

Life Insurance

For life insurance, Atlantic Coast Life mainly provides preneed funeral plans. These allow people to pay for their funeral arrangements gradually over time.

They also offer some regular permanent life insurance policies such as indexed universal life. But their selection of life insurance options is fairly limited compared to other companies.

Customer Service Reputation

Atlantic Coast Life customer service reviews are mixed, based on online comments and the company’s profile on WalletHub:

  • Some customers report very poor experiences trying to contact the company by phone
  • Others say customer service was helpful once connected
  • There are complaints of very long phone wait times
  • A few mention issues with getting payments after being promised checks

The availability of customer service seems to be an area the company could improve upon. Wait times to speak to a representative on the phone appear to be a common frustration.

Bottom Line: Is Atlantic Coast Life Worth It?

Atlantic Coast Life Insurance Company offers a decent suite of annuities and preneed funeral insurance options for consumers in the Southeastern states. Their financial ratings are also fair for a midsize company.

However, customers do report some challenges with getting prompt support when calling the company with issues or questions. There are also limited life insurance choices compared to bigger national insurers.

Here are some pros and cons to consider if you’re thinking about Atlantic Coast Life Insurance:


  • Competitive interest rates on annuities
  • Financial strength is adequate
  • Long history dating back to 1925


  • Mixed reviews of customer service
  • Limited selection of life insurance products
  • Not rated by major agencies besides A.M. Best

Overall, Atlantic Coast Life is likely a good option for annuity and funeral preplanning buyers in its region. But consumers looking for more diverse insurance options and top-notch customer support may prefer a larger insurer with higher ratings.

Be sure to get quotes from multiple companies before deciding on coverage. Comparing your options for pricing, financial strength, and customer service can help identify the best life insurance provider for your needs and budget.

Atlantic Coast Life Insurance Company


Who owns Atlantic Coast Life?

In 2015, Advantage Capital purchased Atlantic Coast Life from the Scarborough Family and Y. W.

What is the financial strength of Atlantic Coast Life?

A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-“of Atlantic Coast Life Insurance Company (ACL) (Charleston, SC). The outlook for both ratings is stable.

What is the AM Best rating for Atlantic Coast?

On January 21, 2021, Atlantic Coast Life Insurance Company was assigned positive credit ratings by AM Best. Atlantic Coast Life received an AM Best Financial Rating of B++ and a Long-Term Issuer Credit Rating of BBB, both were assigned with a Stable Outlook.

Leave a Comment