The Detailed Assurity Life Insurance Review You Need to Read

Term

Assurity offers term life insurance policies to applicants between the ages of 18 and 65. Coverage ranges from $25,000 to $10 million and is offered in terms of 10, 20, or 30 years. Coverage is level-term, so customers can expect their death benefit as well as their monthly premium to remain constant throughout their term.

Conversion Options

The policy has a conversion option, so policyholders can convert to a permanent policy at any point during their term.

No Medical Exam Option

Accelerated underwriting is also available, which eliminates the need for a medical exam, but eligibility varies by both age as well as overall health. These accelerated policies are also capped at $500,000 for applicants between the ages of 18 and 50, and capped at $350,000 for applicants over 50.

Whole Life Insurance

Whole life insurance offers customers a guaranteed death benefit, as well as a guaranteed rate for cash value accumulation. Policyholders have the option to pay for their policy in a lump-sum payment, over a lifetime, or through a predefined payment plan.

Final Expense Insurance

Assurity doesn’t list a separate category for final expense insurance, but they do offer simplified whole life plans that could be used for final expense insurance for elderly applicants.

Universal Life Insurance

Assurity offers universal policies, which provide flexible premium options and the choice of a level, increasing, or decreasing death benefit. A single-pay option is also available. Policyholders can also borrow from the policy’s cash value and apply this to the premium payments.

Accidental Death Insurance

Assurity offers Accidental Death and Dismemberment (AD&D) Coverage, which provides a cash benefit if the policyholder loses his or her life in an accident. The specificity of this plan means that policyholders can expect to pay lower monthly premiums and still enjoy a guarantee of benefits. This policy can also be purchased alongside other insurance policies.

Disability Income Insurance

If you are sick or otherwise unable to work, this policy ensures that you receive a monthly income.

Critical Illness Insurance

If you are diagnosed with a qualifying illness, you can receive a lump sum payment to cover medical expenses and other financial obligations.

Workplace Benefits

Assurity offers many of these products to businesses and companies who wish to provide their employees life insurance options:

• Term, whole, or universal life insurance
• Hospital Indemnity Insurance
• Disability Income Insurance
• Critical Illness Insurance
• Accident Expense Insurance

Typically, insurance policies purchased through an employer can translate into lower monthly premiums as compared to purchasing a policy from the open market. The details, however, can vary by employer and by state regulation. Ask your employer or human resources department about workplace insurance plans.