Answers to Common Questions for Assurity Direct Policy Owners

How much life insurance do I need?
Financial experts recommend you carry life insurance equal to a minimum of five times your annual household income.

What is a beneficiary?
The beneficiary is the person named by the policyholder who will receive the proceeds of the policyholder’s life insurance policy. The beneficiary is responsible for notifying Assurity Direct when the insured person dies.

Can anyone be a beneficiary?
Yes.

Can I have more than one beneficiary?
Yes. You may have more than one person listed as a beneficiary. You may also list a primary beneficiary and contingent beneficiary.

What is a contingent beneficiary?
The contingent beneficiary receives the proceeds of the policyholder’s life insurance policy when the primary beneficiary dies before or at the same time as the insured.

My minor children are the beneficiaries of my policy. Will there be a problem in paying them the policy proceeds if I die before they reach the age of majority?
Yes, there could be potential problems. The proceeds from a life insurance policy cannot be paid directly to a minor child - which in most states is up to age 18. The laws of each state vary; therefore, Assurity Direct recommends that the policyholder discuss this situation with an attorney.

What is the difference between term life and whole life insurance?
Term life has affordable rates and guaranteed level premiums for a specified amount of time. Whole life has guaranteed level premiums for life and benefits that will never decrease. Whole life also builds cash value.

Is there a waiting period for my coverage to begin?
The policyholder is covered for the entire amount of the benefit as soon as the policy is issued. There is no waiting period. Contestability clause applies to each individual state. (Excludes Modified Benefit Whole Life plans)

How long will it take to issue my policy?
Providing your answers on the application meet our underwriting guidelines and everything on the application is complete - we should be able to issue your policy within 3 to 5 days of receipt of your application.

Do you have a family plan?
Assurity Direct cannot put two spouses on the same policy, but all children under the age of 18 may be added to a parent’s policy for just an additional $8.50 per month. The Child Plus Benefit gives each child $5,000 or $10,000 of term coverage until their 25th birthday.

Can I have more than one policy?
Yes. You may have a term life policy and a whole life policy. You may also have more than one whole life policy.

Can I change my due date for my premium payment?
No - because the due date is the date your policy became active. But, you can sign up for our Automatic Bank Withdrawal and have your premiums deducted on either the 1 st, 8 th, 16 th or 24 th of the month.

Do I have a grace period?
Yes. All Assurity Direct policies have a 31-day grace period.

Can I borrow money on my life insurance plan?
Yes. If you have a whole life plan, your policy will build some cash value over time.

Can I increase or decrease the amount of my coverage at a later date?
Yes. You can increase your coverage - as long as your health has not changed (excludes Modified Benefit Whole Life plans). All of our plans allow you to decrease your coverage.

Can I apply over the phone or online?
No. The application is a legal contract, and we need the original signature authorizing Assurity Direct to process your application.

Contact us by email:
insure@assurity.com

Contact us by phone:
Call our toll-free number (800) 747-7191 , ext. 3442

Contact us by mail:
Assurity Direct
P.O. Box 82448
Lincoln , NE 68501-2448

You may also want to visit our Customer Center. Our customer center has online forms, information and instructions.

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