I received an Email from them today without any prior notice that effectively is an announcement that they are out of the TERM Market by raising their Rates significantly.
I looked at their sample rates for a 35M and 45m 20 Year Term $150k T and NT. Rate increase was 60% across all Classes (Select+, Select, and Standard)
Effectively putting them out of the TERM business.
Anyone heard anything... We have not???
Effective March 1, Assurity will be changing premium rates for LifeScape NonMed Term 350 and Term 350 Plus (both Form No. I L0760) along with associated riders - Other Insured Term Rider (Form No. R I0765), Disability Waiver of Premium Rider (Form No. R I0766) and Return of Premium Rider (Form No. R I0767). Assurity will continue to issue coverage at the past rate if the application is signed by February 28 and received at Assurity by March 6.
Quoting capability for the new rates will not be available until the March 1 update of the Life Portraits Illustrations system.
I looked at their sample rates for a 35M and 45m 20 Year Term $150k T and NT. Rate increase was 60% across all Classes (Select+, Select, and Standard)
Effectively putting them out of the TERM business.
Anyone heard anything... We have not???
Effective March 1, Assurity will be changing premium rates for LifeScape NonMed Term 350 and Term 350 Plus (both Form No. I L0760) along with associated riders - Other Insured Term Rider (Form No. R I0765), Disability Waiver of Premium Rider (Form No. R I0766) and Return of Premium Rider (Form No. R I0767). Assurity will continue to issue coverage at the past rate if the application is signed by February 28 and received at Assurity by March 6.
Quoting capability for the new rates will not be available until the March 1 update of the Life Portraits Illustrations system.