Assurity SPWL Now Available for Clients Up To and Including Age 80!
Effective December 1st, Assurity updated our Single Premium Whole Life underwriting guidelines to allow applicants up to and including age 80! Our Single Premium Whole Life product has become increasingly popular over the last few years for more reasons than just the fact that we about doubled our commission in 2018!
Assurity Single Premium Whole Life automatically includes our Chronic Illness(101g) Accelerated Death Benefit Rider which allows the client to accelerate up to the IRS per diem if he/she is unable to perform two of six ADL’s or has a severe cognitive impairment, neither of which require permanency. Assurity Single Premium Whole Life is a participating policy, accepts 1035 exchanges and even has an optional Single Premium Insurance Rider for overfunding the policy.
Some niche marketing areas where we are seeing success include but are not limited to:
- CD alternatives
- 1035 exchanges of underperforming inforce policies
- Grandparents purchasing coverage on their grandchildren (face amounts start at just $5,000)
Please note the following guidelines currently being observed for Assurity Single Premium Whole Life:
- We will consider a Standard or better risk class
- An Attending Physician Statement (APS) will be ordered on every applicant age 65 and up
- Applicants age 65 and up will be required to have seen a physician in the last two years
- We will require the COVID-19 health statement (attached) to be completed with the application