Assurity Life Insurance Company Launches Innovative Disability Insurance for Greater Flexibility
Assurity Life Insurance Company Launches Innovative Disability Insurance for Greater Flexibility
In a ground-breaking announcement, Assurity Life Insurance Company has launched a new long-term disability insurance product called Income Protection+. This plan aims to provide flexible and affordable protection for a crucial asset of clients: their ability to earn income.
Understanding Income Protection+
Income Protection+ is not just a standard long-term disability insurance product; it is designed to adapt to the changing needs of today's workforce. It features expanded occupation classes and enhanced definitions for disabilities, allowing coverage for a broader range of professions. If you are aged between 18 and 64, you can benefit from this insurance, with coverage durations extending from one year to age 70.
The insurance offers multiple options, including Accident and Sickness or Accident-Only coverage. Notably, it provides four distinct definitions of disability, one of which is the True Own Occupation coverage. This means that if you can't work in your specific profession due to a disability, you're eligible for benefits, even if you can perform another job.
For those with higher incomes, the plan comes equipped with an assortment of optional riders, such as the Enhanced Residual Disability Rider and the Mental Disorder Rider, allowing further customization of coverage. Monthly benefits can reach up to $30,000, making it a comprehensive option for many clients.
The Vision Behind the Product
UnYoung Botelho, Executive Vice President of Individual Sales at Assurity, expressed excitement over the launch. “Income Protection+ represents the latest evolution of disability coverage, expanding our diverse portfolio of long-term and short-term disability insurance options, business overhead insurance, and graded benefit DI. We've developed this product to help insurance agents secure more disability coverage that aligns with the features customers are after today, all at a competitive price conducive to higher sales rates.”
Enhanced Application Process
To streamline the process of acquiring this insurance, applications will be available through FastTrack, a user-friendly e-application platform designed to alleviate friction in the application experience. This digital workflow enhances submission quality, supports faster underwriting decisions, and minimizes administrative burden for producers. FastTrack is available concurrently with the launch of Income Protection+.
Commitment to Client-Centric Values
Assurity's commitment to the human side of insurance has been a cornerstone of their philosophy since the company's inception in 1890. As a mutual organization and a Certified B Corporation, their focus has always been on serving people first, valuing financial strength while adhering to a steady purpose even in fluctuating circumstances. The company prides itself on its mission to assist individuals in navigating through challenging times. They aim to support people as they balance their jobs, families, aspirations, and responsibilities.
This forward-thinking approach to insurance signifies that Assurity is dedicated to safeguarding what truly matters. “When life gets unpredictable, we are here for what you value most,” the company emphasizes, recognizing that life is filled with significant events and moments that deserve protection.
With the introduction of Income Protection+, Assurity Life Insurance Company sets a new standard for long-term disability insurance, adapting to the modern landscape of various professions and individual needs, ensuring that everyone has access to the protection they need to secure their financial futures.
Topics Financial Services & Investing）
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