Life insurance is often purchased to protect loved ones financially after death. But certain Assumption Life products also include valuable features that can help during your lifetime or when circumstances change. These features are included without an additional premium where offered; they are not available on every policy, and conditions apply.
01Extreme Disability Benefit
For a qualifying extreme disability lasting a continuous six months, an eligible insured may receive an advance of up to 50% of the life insurance death benefit, subject to limits:
- Up to $250,000 for ages 18–59 (age nearest at claim).
- Up to $125,000 for ages 60–70 (age nearest at claim).
The brochure describes a qualifying inability to perform at least four of six activities of daily living.
An advance is taken from the death benefit; ask how it affects the remaining insurance proceeds.
02Insurability Benefit
Following eligible life events, qualifying policyholders may increase life insurance coverage by up to 25%, to a maximum increase of $125,000, without new medical evidence of insurability.
Examples of qualifying events:
- Marriage or divorce
- Birth or adoption of a child
- Taking out a new loan or mortgage
- Obtaining a degree
Additional coverage is not free: any increase may carry its own premium. Eligibility and exercise rules apply.
03Term Exchange Option
Eligible policyholders may exchange their initial term for a longer term after the first month and through the seventh policy year, without new evidence of insurability.
This may offer flexibility as family responsibilities or financial commitments evolve.
The premium for the replacement coverage may differ. Confirm eligible products, terms and deadlines before making changes.
04Transportation Benefit
If an insured dies far from home, eligible coverage may pay up to $2,000 toward transportation of remains to the primary residence.
According to the brochure, this benefit becomes payable only after the second anniversary of the policy or applicable rider.
The policy governs qualifying circumstances, documentation, exclusions and payment.