Assurity Burial Insurance Review

Written by Jeff Root

Assurity Was founded in 1890 and started out of Lincoln Nebraska. Today they conform to rigid social standards and have been involved in their communities on a regular basis doing things like food banks and blood drives and even sponsoring Habitat for Humanity.

Assurity manages over $2.5 billion dollars in assets. Just a few years ago they paid out a total of $58 million dollars in their death benefits.

Assurity has a very wide array of insurance plans such as disability insurance whereby if you are disabled at any point and can no longer earn an income this insurance covers you.

They also have critical illness coverage for those who might get a critical illness and even accidental death options. While they do provide a wide array of life insurance policies. Term and permits, their burial insurance program is one that truly is top of the line.

They are overall a very stable company and they have strong financials, so you can certainly depend upon them to be in it for the long term. Below is a chart of the financial ratings Assurity has earned:

Company Financial Rating Strength
A.M. Best A- Excellent
Moody’s N/A N/A
Fitch N/A N/A
S&P N/A N/A

Burial Insurance Offered By Assurity 

Assurity has been in business for over 100 years. They have three separate burial insurance programs designed to accommodate different levels of overall health.

Modified Death Benefit

First is their modified death benefit plan. This has a very long waiting period and it is the most expensive of the three burial plans.  This plan is really designed for people who have health conditions that negate their approval for the other two programs.

Graded Death Benefit

The graded death benefit plan is a good plan that is well priced and provides immediate protection for people who might, for example, have a serious health condition or recently had a heart attack or stroke.

Level Death Benefit

The third plan is the level death benefit plan. This one is priced lowest in the entire industry and will only look back about a year or so regarding your health. Most companies go back at least two years. If you do not smoke this is the best burial plan you can find.

Lifescape Final Expense Program

Assurity called their burial insurance plan the “lifescape final expense program” and it is the cheapest of all three and provides an immediate benefit. The coverage never decreases, and your payments never increase.

Your health will determine which of the three plans you qualify for. In any case, their burial insurance is a whole life insurance policy which means it never expires and your benefits never decrease.

Moreover, your monthly payments remain fixed for the duration of your life. There are no riders available for the final expense policies.

Determining Eligibility

When you apply for burial insurance this company will look over four separate categories of information to determine your eligibility.

  1. Answers to a health questionnaire
  2. Prescription history
  3. Height to weight ratio
  4. Any relevant records available on file with the Medical Information Bureau

Out of all these the most important is the health survey and your answers to the questionnaire. Once you have completed the application process you will be contacted over the phone to talk to an underwriter.

Assurity will ask you any additional questions they need and if necessary get your approval so that they can check on your medical history with the bureau.

Their underwriting process as a company is unique.  In fact, most other burial insurance companies don’t do the same thing. Assurity will ask for additional underwriting information and if you have certain health conditions they might ask you follow-up questions which is a bit more intense than most companies.

If the company must check out your medical files and any prescription history, they will do it within a few days, so you are not left waiting for a long time.

Comparing Assurity Plans

As mentioned there are three separate plans offered for burial insurance.

Modified Burial Insurance

To qualify for this plan, you must answer one health question. If you say yes to the question you get approved. It’s that simple. The modified health question asks if you have been confined to a psychiatric facility within the last 90 days, or if you are receiving home care.

This plan has a two-year waiting. So, if you pass away during the first year of your policy your beneficiaries are refunded 110% of your annual premium. If you pass away within the second year of your policy your beneficiaries receive 220% of your annual premium.

By comparison, many final expense companies offering burial insurance only add an additional 10% into the premiums you have already paid. During this waiting period, Assurity will give you full death benefits if you pass away from an accident which no other insurance companies seem to do with burial insurance policies.

To apply for this plan, you must be 40 years old up to 80 years old. This modified plan is available in every state and covered amount range between $5,000 and $25,000.

This modified plan is something you should not settle for unless you are not approved for any other burial insurance. This is really meant for people who might otherwise have to answer yes to what are called “knockout” questions.

These questions are things that if you answer yes to any of them, you do not get approved for any life insurance policy at all. Assurity does at least offer this one burial insurance plan for people who might not otherwise qualify anywhere else.

These “knock out” questions apply to people who have been convicted of a felony in the last 12 months, have a terminal illness with a life expectancy of 12 months or less, have been treated for severe diseases such as cancer, Parkinson’s, ALS, SLE, cerebral palsy, Down’s syndrome, or AIDS.

Graded Benefit

To qualify for this burial insurance plan, you must answer no to the modified question listed above and you cannot answer yes to what are considered the knockout questions.

When applying for this level of insurance you can still be approved if over the last 12 months you were diagnosed and treated for cardiomyopathy, stroke, or sleep apnea.

If you have a heart condition that required bypass surgery or a cardiac defibrillator within the last 5 years you can still qualify. If you were treated for diabetes or a heart disease you can still qualify.

This burial insurance plan is a graded death benefit. If you pass away during the first year of your policy your beneficiaries will receive 40% of your total death benefit.If you pass away during the second year of your policy, they will receive 75% of your total death benefit. If your death was an accident, then your beneficiaries receive your full death benefit within the first 2 years.

You can apply for this plan between the ages of 40 and 80 years old. The plan is available in almost every state and the coverage amounts vary by age.

Anyone between the ages of 40 and 65 can enjoy coverage between $5,000 up to $35,000. Anyone 66 through 80 years of age can get coverage ranging between $5,000 and $25,000.

For people who fall into this category most burial insurance companies have much smaller maximums, so Assurity might be a great solution.

This plan is great for people who have congestive heart failure, for those who had a stroke within the last 12 months, anyone with cardiomyopathy, or anyone who has undergone treatment for drugs or alcohol within the last 12 months.

You can still enjoy instant protection without the plan breaking the bank. If you have congestive heart failure or cardiomyopathy this company is one of two options, you have with straightforward burial insurance policies.

Level Benefit Whole Life

If you do not have any pre-existing medical conditions and no history of tobacco use sore diabetes you can qualify immediately for this plan with no waiting.

Your coverage will begin as soon as you make your first payment, the payments will never increase, the coverage will never decrease, and your coverage will never expire.

Anyone up to age 80 can apply for this plan, quite literally. This plan has the highest maximum issue limits in the entire life insurance industry.

Anyone up to 19 years of age can get coverage between $10,000 and $50,000. Anyone between 20 and 65 years of age can get $5,000 to $50,000 in coverage. Anyone who is between 66 and 80 years of age can get between $5,000 and $25,000 in coverage.

This is absolutely the best option even if you have been diagnosed with emphysema or you use oxygen, or you are a smoker. Most burial insurance companies will not let you qualify for such an advanced policy if you are a tobacco user.

And they certainly won’t let you qualify if you are being treated for diabetes. Most of the time if they do approve you it is with a much higher premium. That is not the case with this company.

In fact, out of all the life insurance providers in the industry this company does offer exclusive value in this plan because they will not charge you more if you have been diagnosed with emphysema or have diabetes.

Sample Rates

Below is a sample of the graded burial insurance rates for a female, non-tobacco applicant:

AGE $5,000 $10,000 $15,000 $20,000
50 $19.89 $37.58 $55.26 $72.95
55 $22.88 $43.57 $64.25 $84.94
60 $26.71 $51.22 $75.74 $100.25
65 $32.49 $62.78 $93.07 $123.36
70 $41.38 $80.56 $119.73 $158.91
75 $57.31 $112.42 $167.53 $222.64
80 $87.77 $173.33 $258.90 $344.47

Now, while the sample above is for a non-smoker, smokers and those with diabetes can still get coverage with this plan.

Assurity Burial Insurance Review – Wrapping it Up

Overall, Assurity is one of, if not the best burial life insurance provider on the market in terms of price.

This is especially true of their rates for smokers, and people with health complications.

When comparing life insurance rates, policies and providers, it is important to have the best information on hand.

Working with a professional is the best way to do this.

Give us a call today, or use our online quoting tool to find the best burial insurance coverage for you and your family today!

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