Assurity Opens $5,000–$50,000 Critical-Illness Option for Ages 18–64

Assurity Life Insurance Company says applications are open for a new critical-illness policy with benefit amounts from $5,000 to $50,000 and issue ages of 18 to 64. The insurer announced Quick Issue Critical Illness Insurance on September 24 as supplemental protection for specified serious illnesses, rather than a life-insurance death benefit.

For buyers considering that protection, the choice turns on the illnesses listed and the policy’s definitions. The $5,000–$50,000 range describes available benefit amounts, not premiums.

What the new option lists

Assurity names cancer, qualifying heart attack, stroke and advanced Alzheimer’s disease. Its description of a qualifying heart attack excludes cardiac arrest and a heart attack that occurred before the policy was issued. The insurer also says benefits do not decline merely because a policyholder ages. A diagnosis must meet the applicable policy terms to qualify for payment.

How applications work

According to Assurity’s launch announcement, applicants use its FastTrack platform and answer five health questions. That describes the application process; it does not guarantee approval or a particular time to issue a policy.

The practical next step for an interested applicant is to compare an individual premium quote and the policy’s covered-condition definitions with the benefit amount they want. Neither the announced benefit range nor the short application establishes the price or whether a particular diagnosis will qualify.