Assumption Life Bronze Safety – What You Should Know

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As Assumption Life enters the Assured Difficulty No Medical Life Insurance coverage market, we use this chance to debate their new product with Daniel Audet, Affiliate Vice President for Particular person Insurance coverage and Investments / Gross sales and Advertising.

Why did Assumption Life resolve to get into the Assured Difficulty market?

Over the previous yr, Assumption Life has developed a aggressive and complete vary of Simplified Difficulty options, together with protection choices for shoppers who fall within the hard-to-insure class.  

The introduction of Bronze Safety was to fill a spot in our present providing, and supply advisors and shoppers with the perfect different when one other Simplified Difficulty protection is solely not doable. 

What’s the difficulty age and face quantity limits for this product? 

  • 18 to 80 years of age 
  • Protection ranges from $2,500 to $50,000 (Relying on the age of the applicant) 

How does Assured Difficulty evaluate to Simplified Difficulty insurance coverage and who’s the audience for the product?

Whereas we perceive the idea of assured difficulty is engaging, we consider this sort of product must be used as a final resort. Bronze Safety is good for shoppers with extreme well being issues or high-risk way of life who wouldn’t qualify for Simplified Difficulty options. 

How does the product evaluate with a few of Assumption Life’s opponents?

Assured difficulty merchandise are fairly comparable from provider to provider, however our efforts have been centered on offering a superb vary of options within the hard-to-insure and simplified difficulty market, with Bronze Safety being the ultimate piece to make our providing full.  

Bronze Safety options: 

  • 3% curiosity on return of premium if dying happens inside the two-year deferral interval.  
  • Money Give up Worth and Lowered Paid Up choices obtainable after the fifth anniversary 
  • Constructed-in transportation and terminal sickness advantages included 
  • Unintentional dying profit protection (deferral interval included) 

What different product enhancements have you ever not too long ago launched?

We now have completed an entire redesign of our Simplified Difficulty suite. Our line up now covers a variety of people and conditions: 

  • For older people planning for remaining bills with everlasting protection, proper as much as age 85, and fast protection with flagship Golden Safety (not too long ago redesigned), Golden Safety Elite, or with Platinum Safety. 
  • For youthful people searching for a better underwriting course of, for his or her non permanent (10- or 20-year time period) or everlasting wants, proper from age 18, and fast protection with the Golden Safety Elite and Platinum Safety options.

Whereas we launched many modifications, our objective was to increase and enhance our simplified difficulty providing to be extra inclusive, primarily a one-stop-shop for shoppers needing a Simplified Difficulty answer.  

We now have stored many options that make our providing distinctive, resembling larger difficulty ages, all kinds of fast choices and versatile cost choices.   

Over time, our Assumption Life Simplified Difficulty options have stood out not just for the standard of the merchandise, but in addition for its superior service and pace of execution. Which explains why advisors have rated our Simplified Difficulty Gross sales Course of 4.7 out of 5. 

Moreover, we’ve launched quite a lot of enhancements on our underwritten merchandise and its riders. 

In regards to the Writer

We thank Daniel Audet, Affiliate Vice President for Particular person Insurance coverage and Investments / Gross sales and Advertising from Assumption Life for his insights and perspective.

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