G
Guest
Guest
Re: Critical Illness
According to the Assurity agent website, CI is not approved in Virginia. Maybe your quote was in a different state?
Anyway, on the web page that comes up for my log-in (they know what state I'm in) and in the Product guide:
I'm not pleased with the benefit reduction without a corresponding premium reduction, but it does give the client a choice. With the AIG policy, it is good until age 70 and after that benefit is paid ONLY for loss of 2 ADLs... nothing else.
The Assurity premiums are reasonable and their UW is rather liberal. My wife is on SSI disability and Medicare from severe osteo-arthritis but they wrote her without a rate-up. We both had to take a full para-med... blood, HOA, and EKG. They did not do an APS on either of us.
This plan will cover us until I'm 68 and she is 69. It's added peace of mind that should one of 21 crap-outs happen to one of us, they will write us a check for $100K (which my very expensive wife will spend in a New York minute... probably in NY while I'm in a convalescent home!!! )
I've learned that this coverage is very popular in Canada and Europe, but is hardly known in the US. The aging boomers I've spoken to about it are very interested. Self-employed people who can't easily get DI are also interested. It's an easy sale... but not one you will get rich from. It's a nice easy-to-explain/understand product that makes a nice add-on sale to life, or health or LTC.
YMMV
Al
The Assurity policy is level to age 75...is it different in CA? I just did a quote yesterday.
According to the Assurity agent website, CI is not approved in Virginia. Maybe your quote was in a different state?
Anyway, on the web page that comes up for my log-in (they know what state I'm in) and in the Product guide:
Our fully underwritten Critical Illness Insurance pays the insured at the first-ever diagnosis of 21 covered illnesses or procedures. Guaranteed renewable for life, this protection is available for individuals 18 through 64 years of age. An outstanding feature, the Return of Premium Death Benefit returns 100 percent of paid premiums (less any benefits received) to the beneficiary if the insured dies of any cause other than a covered illness.
(from product guide)
RENEWABILITY
Guaranteed for life – 50 percent reduction in benefits on the policy anniversary date in the year the insured turns 65 or five years from the policy issue date, whichever is later
I'm not pleased with the benefit reduction without a corresponding premium reduction, but it does give the client a choice. With the AIG policy, it is good until age 70 and after that benefit is paid ONLY for loss of 2 ADLs... nothing else.
The Assurity premiums are reasonable and their UW is rather liberal. My wife is on SSI disability and Medicare from severe osteo-arthritis but they wrote her without a rate-up. We both had to take a full para-med... blood, HOA, and EKG. They did not do an APS on either of us.
This plan will cover us until I'm 68 and she is 69. It's added peace of mind that should one of 21 crap-outs happen to one of us, they will write us a check for $100K (which my very expensive wife will spend in a New York minute... probably in NY while I'm in a convalescent home!!! )
I've learned that this coverage is very popular in Canada and Europe, but is hardly known in the US. The aging boomers I've spoken to about it are very interested. Self-employed people who can't easily get DI are also interested. It's an easy sale... but not one you will get rich from. It's a nice easy-to-explain/understand product that makes a nice add-on sale to life, or health or LTC.
YMMV
Al