Having life insurance is needed in case of a serious accident.
You cannot depend on what you have made so far in your life to cover the costs of a funeral and everything afterwards, which means you need something extra.
There are plenty of life insurance companies offering coverage available to consumers, regardless of their needs or current situation, so it is possible to find something that fits where you are in life.
One company offering coverage is Assurity.
They know some people will not be able to afford a funeral or other expenses after a death, which is why they have several options available. Of course, no person is going to blindly trust in any company, making an Assurity life insurance company review necessary.
You need to know what it is they offer and have to provide you when it comes to each plan before making such a large decision. Check out some other great companies and what they have to offer, such as Banner Life Insurance company as well. Informed choices allow you to rest easier and insure that what you decided on was the best of what is out there.
Assurity NonMed 350 Term Life Policy
The first plan is non medical term 350, which does have several benefits to it. Those interested in this should know the amount above all, of course. This plan ranges from $50,000 – $350,000 and can go up to a 30-year plan. (The 30 year term product is only available till age 50). Being accepted does come with requirements, though.
There are no medical tests, something that may come as a relief to many, but your family and driving histories do matter. Those who are shaky drivers probably will have little chance of being accepted. You must have no DUI’s and your MVR must not contain any recent and major accidents. As far as family history, it has to be at least somewhat clean. Any more than one death due to something serious and you are not eligible. People who are overall healthy in family history and are good drivers might see a lot of potential with the non medical term 350, though.
Because you buy a no exam plan, you need to look at the pros and cons. They are more expensive, but they are quicker. No exam policies are not the standard kind of coverage.
Even though Assurity simplified issued product is a no physical term life policy, they still do ask background questions. Here’s a look at some of the questions you’ll have to answer:
1. To the best of your knowledge, during the past 10 years, has any Proposed Insured consulted with or been diagnosed, treated, hospitalized or prescribed medication by a medical professional for any of the following:
- a. Heart disorder, including a heart attack (myocardial infarction), angina, irregular heartbeat or abnormal heart rhythm
(arrhythmia), chest pain, hypertension (high blood pressure), heart murmur, any blockage or narrowing of the arteries, any aneurysm, stroke or transient ischemic attack (TIA or mini-stroke), or rheumatic fever?
- b. Diabetes, high blood sugar or sugar in the urine, anemia, blood or platelet disorders, elevated cholesterol, liver disease, hemophilia, kidney disease (other than kidney stones), protein or blood in the urine, Crohn’s disease, ulcerative colitis, disease or disorderof the stomach, gall bladder, bladder or prostate, other intestinal or digestive tract disease, or pancreatitis?
- c. Internal cancer or tumor, cyst, melanoma, lymphoma, leukemia, disorder of lymph nodes or any glandular disorder?
- d. Alzheimer’s disease, dementia, memory loss, seizures, mental retardation (including Down’s syndrome), multiple sclerosis (MS), muscular dystrophy (MD), Parkinson’s disease, amyotrophic lateral sclerosis (ALS), any brain or nervous system disorder, cerebral palsy or any form of muscular atrophy?
- e. Sleep apnea, cystic fibrosis, emphysema or chronic obstructive pulmonary disease (COPD), shortness of breath, asthma or other respiratory disorder, rheumatoid arthritis, paralysis or connective tissue disorder (lupus or scleroderma)?
- f. Dizziness, fainting spells, anxiety, depression, eating disorders or any other psychological or emotional disorder?
- g. Arthritis, rheumatism or any disease or disorder of the back, spine, bones, joints or muscles?
- h. Varicose veins, varicose ulcer or phlebitis, syphilis or a hernia?
- i. Any disease or disorder of the eyes, ears, nose or throat?
- j. Any other illness or injury requiring medical attention or blood transfusions?
2. During the past 5 years, has any Proposed Insured:
- a. Been a patient in any hospital, clinic, dependency program, halfway house or other medical facility?
- b. Used controlled substances such as cocaine, heroin, amphetamines, barbiturates, hallucinogens or any other controlled substance not prescribed by a physician?
- c. Been treated by a physician, or advised by a physician to seek treatment, for drug or alcohol use?
- d. Been advised to have any test (except HIV tests), treatment, surgery, hospitalization or consultation with a medical professional which has not been completed, or for which results have not been received?
- e. Had any special examinations or laboratory tests such as X-rays, electrocardiograms, blood tests (other than AIDS-related blood tests) or urine tests?
3. Has any Proposed Insured ever tested positive for HIV antibodies as part of a test for obtaining insurance?
4. Has any Proposed Insured been diagnosed as having, been treated or recommended for treatment by a medical professional for acquired immune deficiency syndrome (AIDS), AIDS-related complex (ARC) or any other disorder of the immune system (excluding HIV status)?
5. Has any Proposed Insured had a natural parent or sibling who was diagnosed with or died of cancer, heart disease or diabetes prior to the age of 60? If YES, please identify family member, relationship to Proposed Insured, disorder and age at death.
- a. Has any Proposed Insured ever had any disorder of any genital or reproductive organ, or had a miscarriage, stillbirth or Caesarean section?
- b. Is any Proposed Insured currently pregnant? If YES, date child is expected (MM/DD/YYYY)
Assurity Insurance Company
When doing an Assurity life insurance company review, it is important to cover more than just one plan. Besides the non-medical term 350, there are also plans like simplified whole life benefit and simplified whole life graded benefit. They each help in different ways and fit into different lives, depending on the need of the single person.
The first, simplified whole life benefit, has everything you need from a life insurance plan. You do need to be healthy, not answering any questions with a yes, but it does provide a person with a large amount of coverage. It goes from 25,000 – 50,000, depending on the age of the person, and can last an entire lifetime. You know you are covered, regardless of what happens, and you can rest easier.
Of course, some people might not be happy with simplified whole life benefit and prefer simplified whole life graded benefit. It does everything that the previous does but is less strict on approval. While you do not have to have perfect health, dying from anything non-accidental within the first three years does not provide you with everything you bought otherwise known as a graded benefit.
Doing a review of different life insurance companies will provide you with the information to make an informed decision. Whether you want Non-Medical or simplified whole life graded benefit, it is vital to know which works for you.
Assurity is only one company of many. We recommend making sure you take the time to review all possible carriers and products before purchasing a policy.