Lumico Life life insurance

Overview

Lumico Life Insurance Company was the U.S. life and health insurer of Swiss Re, the Zurich-based reinsurer, until April 1, 2026, when Swiss Re sold it to Wilton Re, a company that buys and runs blocks of existing life insurance. In the 2024 NAIC data, Lumico was filed under the Swiss Re group, along with Elips Life Insurance Company, which underwrote some of Lumico's Medicare Supplement plans and went to Wilton Re in the same deal. The group ranked #97 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with about $114.9 million in premiums and a 0.07% market share.

Lumico no longer sells new policies. Its website says it stopped accepting new applications on January 8, 2025, and that nothing changes for existing customers. It continues to bill, service and pay claims on the term, whole life, final expense and Medicare Supplement policies already in force. For that reason, this profile is listed with closed-block and legacy administrators: if you own a Lumico policy, it is still valid, and this is the company you deal with.

Lumico says it has protected more than 140,000 families and has more than 50 years of experience insuring families, as of 2026.

History

Lumico was previously Generation Life Insurance Company and took the Lumico name in 2017, according to trade publication Coverager. It became part of iptiQ, Swiss Re's digital "white-label" insurance unit, which let banks, insurance marketplaces and other brands sell insurance underwritten by Swiss Re companies. Lumico's term, whole life, final expense and Medigap products were sold online and through comparison and lead-generation partners and independent agents. Coverager reported that its distribution partners included Assurance IQ and Quilt, both of which their owners later shut down.

In April 2023, AM Best withdrew the ratings of Lumico Life Insurance Company of New York, saying the company was no longer licensed in New York and no longer carried any insurance liabilities. Lumico therefore has no active New York subsidiary.

On May 16, 2024, Swiss Re announced that after a strategic review it would withdraw from the iptiQ business, which had lost money, and would consider options for its separate parts, according to Insurance Journal. iptiQ said it would put its Americas carrier business into run-off, stop onboarding new partners and halt new business with existing ones. Lumico's own help center says applications ended on January 8, 2025.

In its 2025 results release (February 27, 2026), Swiss Re said it had reached an agreement to sell the iptiQ Americas business, subject to regulatory approvals. Its Half-Year Report 2026 gives the details: the agreement was signed on December 30, 2025, and on April 1, 2026, after all required regulatory approvals, Swiss Re completed the sale of the iptiQ American carrier business to Wilton Re, which acquired Lumico Life Insurance Company and Elips Life Insurance Company for $125 million in cash. Lumico policies stay in force on their original terms; only the company behind them changed. See when your life insurance policy is sold to another company.

Swiss Re's European group-benefits insurer, Elips Life AG (elipsLife), was sold to Swiss Life International in a deal announced in December 2021. That sale did not include the U.S. Elips Life Insurance Company, which stayed with Swiss Re until the 2026 sale to Wilton Re.

Life insurance products

Lumico does not sell new life insurance. The policies it administers include:

• Protect Now Term. Term life with 10-, 15- and 20-year level periods (issue ages 18 to 65) and a 30-year term (ages 18 to 50), from $50,000 up to $1 million depending on risk class and age. After the level period, coverage renews at premiums that rise each year, through age 95. An accelerated death benefit was included; accidental death, dependent child and waiver of premium riders were optional.
• Whole Life. Level-premium whole life for ages 18 to 70, from $30,000 to $1 million ($250,000 at ages 65 to 70), with guaranteed cash values that can be borrowed through a policy loan.
• Simplified Issue Final Expense. Small whole life policies of $5,000 to $50,000 for ages 40 to 85, with no medical exam. Preferred policies pay the full benefit from day one; Standard and Modified policies have a graded death benefit for the first three years, except for accidental deaths. See final expense insurance: what it covers and costs.

If you want more coverage today, you will need to apply with another insurer. Keep your Lumico policy in force until any new coverage is approved and issued.

Other products

Lumico also sold Medicare Supplement (Medigap) plans A, F, G, high-deductible G and N, underwritten by either Lumico Life Insurance Company or Elips Life Insurance Company. Those are also closed to new applicants and serviced through a separate health customer care line.

Buying and service

New policies are not available. Existing life policyholders can manage their policies through the customer portal at myaccount.lumico.com: update payment methods, change the draft date and review coverage. Life customer care is at 866-440-4047, weekdays 9 a.m. to 5:30 p.m. Eastern time, or by email at [email protected]; to get help by email you must include two pieces of identifying information, such as the policy owner's date of birth and address. Mail goes to P.O. Box 83303, Lincoln, NE 68501-3303. Medicare Supplement customers call 855-774-4491 or write to P.O. Box 10875, Clearwater, FL 33757-8875.

Premiums are drafted automatically. Lumico says that if a payment fails it retries the payment method on file at least twice within the 30-day grace period, and that it is required to send a past-due letter if a payment is not received within 7 days of the due date.

Claims

Beneficiaries can start a life claim online at lumico.com, giving the insured's full name and date of birth, the policy number and the last four digits of the insured's Social Security number. Paperwork can then be uploaded, or a claim packet can be mailed to each beneficiary (allow 7 to 10 business days). Forms include a Life Claimant Statement, a Contestable Claimant Statement and HIPAA release for deaths within two years of issue or reinstatement, a next-of-kin affidavit and a direct deposit form.

• Mail: P.O. Box 83303, Lincoln, NE 68501-3303; overnight mail to 777 Research Dr, Lincoln, NE 68521.
• Fax: 402-479-8924. A certified death certificate may still need to be mailed.
• Timing: Lumico says claims that do not need a medical review are usually paid within 7 to 10 business days after all requirements arrive. Claims within the two-year the two-year contestability period can take 45 days or more while medical records are gathered.

Ratings and reputation

• AM Best: In May 2024, after Swiss Re's iptiQ decision, AM Best affirmed the A (Excellent) financial strength rating of Lumico Life Insurance Company and Elips Life Insurance Company, downgraded their long-term issuer credit ratings to "a" from "a+," and placed the ratings under review with negative implications. AM Best cited very strong balance sheet strength but marginal operating performance and a limited business profile. A later AM Best action, including any after the April 2026 sale to Wilton Re, could not be confirmed; check the current rating. (AM Best affirmed A+ (Superior) ratings for Wilton Re's main life subsidiaries in November 2025, before Lumico joined the group.)
• J.D. Power: Lumico was not among the 23 brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study.
• Better Business Bureau: Lumico says it has been BBB-accredited since July 2020 with an A+ rating; a BBB grade is not a financial strength rating.

The ownership question that hung over Lumico after 2024 was settled when Wilton Re completed its purchase in April 2026. Policy terms cannot be changed by a sale, and state guaranty association protection applies regardless of owner.

Who it suits

Lumico is no longer an option for new buyers. This page is for existing policyholders and beneficiaries: your policy remains in force and Lumico continues to service it, but you cannot add coverage or buy a new policy. Shoppers looking for similar online term or final expense coverage will need to compare other insurers; see online life insurance companies and agencies explained.

• Strengths: Now owned by Wilton Re, an established administrator of closed blocks; AM Best A (Excellent) financial strength rating as of May 2024; online claim filing and a published 7-to-10-business-day target for routine claims.
• Weaknesses: Closed to new applications since January 2025; no longer backed by Swiss Re after the April 2026 sale; AM Best ratings placed under review with negative implications in 2024, with no later action confirmed; no New York company.

How to contact Lumico Life