Assurity Life Insurance Company says it will pay $100 to writing producers if it fails to meet the underwriting performance goal for a new disability insurance policy.
Assurity Life, Lincoln, Neb., says it will make the payment if it fails to process qualified applications for its new AssurityBalance Simplified Disability Income Insurance product within 4 business days.
Assurity Life has streamlined the underwriting process by dividing applicants into just two occupational classes – professional/office personnel and skilled/unskilled manual workers – and by eliminating income documentation requirements and routine medical requirements.
Complications of pregnancy are covered as an illness, and a waiver-of-premium feature is included at no additional premium, Assurity Life says.
Monthly benefits range from $300 to $2,500.
The benefit periods available run for 6 months, 1 year or 2 years.
Customers also have a choice of 4 elimination periods.