New Assurity StartSmart bundle offers young adults the affordable protection they need.
Modern 3-in-1 coverage combines life, health and income protection in one easy package.
By Rebecca Svec, Content Writer
When you are swimming in the deep end of the going-to-college, first job, newlywed, starter-home or growing-family years, it’s easy to think of insurance as a ‘someday’ task. But as recent events like COVID have shown us, things happen.
That’s why insurance should fall in the ‘now’ category. These young and busy years when you feel the need for insurance the least are actually the best and most affordable time to secure it. Plus, the policy is yours and not tied to where you work.
When you’re young, you are likely making less money and carrying more debts. Your debt load may rise as you juggle a mortgage, student loans, the expenses of starting a family, a business or other adventures.
Odds are your income is on a slower climb. The three types of coverage in StartSmart help bridge that gap, so you don’t have to hit pause on your plans if the unexpected happens.
StartSmart’s term life insurance plus coverage for a major illness and income protection provides an easy, affordable insurance foundation you can lean on and build on. It’s designed specifically for young adults and the unique financial risks you face - at the time in life when the premiums will be at their lowest.
Watch this short video to see how Assurity’s StartSmart helps protect your future with three products in one application.
Keep reading to answer questions about life insurance and the StartSmart package.
- When do I need insurance?
- What is term life insurance?
- Can I convert my term life insurance to permanent life insurance?
- What does Critical Illness cover?
- How can a Monthly Disability Income Benefit Rider help me?
- What is StartSmart and is it worth it?
- How much does StartSmart cost?
- Where do I buy StartSmart?
- Who is Assurity?
When do I need insurance?
The best time to get insurance is younger than you may think. The affordability and flexible time span term life insurance offers makes it a go-to-policy for many young adults. Do you need a 10-year policy to cover your student loan debt? Or a 30-year-policy to act as a safeguard while you pay off a mortgage? Having term life insurance in place helps your loved ones in the event of your death during that time span.
Major illness protection and income protection (officially known as the Critical Illness Benefit Rider and the Monthly Disability Income Rider) are two other important tools to help keep you moving forward and money coming in.
Sooner is better when it comes to insurance. Putting coverage for your life, health and income in place when you are young helps protect your future and offers you the most affordable premiums.
What is term life insurance?
Can I convert my term life insurance to permanent life insurance?
Yes. The plan includes the option to convert to a whole life insurance policy, meaning you can transfer your policy to a permanent policy, extending your coverage for life.
What does a Critical Illness Benefit Rider cover?
Acquiring coverage for a major illness, called a Critical Illness Benefit Rider, provides money to use however you wish if you’re diagnosed with a covered, serious condition, such as cancer, heart attack or stroke. Knowing you’ll be able to cover expenses from deductibles to groceries lets you focus on getting better.
The policy provides a payment equal to the amount of insurance you purchase. One of the best features of Assurity’s Critical Illness Benefit Rider is the freedom to use the money where you need it most. The benefits can be a welcome remedy when you are recovering from an illness while facing high out-of-pocket medical costs.
How can a Monthly Disability Income Rider benefit me?
Income protection, called a Monthly Disability Income Rider, keeps money flowing into your household if you’re disabled and unable to work. It replaces a portion of your lost income so you can continue to pay your mortgage, car payment, credit cards, childcare and other regular monthly bills.
What is StartSmart and is it worth it?
Assurity’s StartSmart is a 3-in-1 insurance plan that combines Term Life Insurance and optional critical illness and disability income coverage into one easy, affordable bundled plan. You can adjust the plan to fit your needs and your bank account.
You fill out one online application, get an instant coverage decision and pay one bill. You can also work with an insurance representative to answer any questions you may have. The protection StartSmart provides is an important and easy tool to help protect the life you are building. If you are a young adult, this is the most affordable time to secure StartSmart’s coverage, although its bundled design helps customers of any age save on insurance premiums.
How much does StartSmart cost?
Generally speaking, for less than $38 a month, a young adult can receive a $250,000 Term Life Insurance policy plus $20,000 of coverage for a major illness and $1,500 of monthly income protection.* That’s less than the cost of eating out for a family of four!**
Where do I buy StartSmart?
Connect with your Assurity insurance representative for guidance and expertise and to get a quote for StartSmart.
Who is Assurity?
As a mutual organization, Assurity was founded on the simple concept of people coming together to support each other in moments of need. That premise continues with our mission to help people through difficult times by providing affordable insurance protection that is easy to understand and buy.
In 2016, Assurity became a Certified B Corporation, joining a global movement of businesses using their reach as a source for good and a means to solve social and environmental problems. At Assurity, we make choices to use our business for good every day. That means, when you choose Assurity, you are choosing to work with company who uses its business reach to make good things happen. Get to know us better at: https://www.assurity.com/
* Illustration based on female age 26, Preferred+ Non-Tobacco, provides $250,000 in Term Life Insurance with the optional Critical Illness Benefit Rider with a $20,000 benefit amount and the optional Monthly Disability Income Rider with a $1,500 monthly benefit.
** Average American Household Cost Annually for Dining Out, Bureau of Labor Statistics, reported by MoneyUnder30.com, July 2022
POLICY NOT AVAILABLE FOR RESIDENTS OF NEW YORK.
This policy may contain reductions of benefits, limitations and exclusions. Click here for standard Limitations and Exclusions Product availability, features, rates, limitations and exclusions may vary by state. For costs and complete details of the coverage, please contact your insurance representative or Assurity to review the policy for more information. The state specific policy form is the ultimate authority for any questions about this product.
Policy Form No. I L1702 and if made available, associated Form Nos. R I1506, R I1703, R I1705, R I1706, R I0762, R I0825-T and R I0827-T underwritten by Assurity Life Insurance Company, Lincoln, Nebraska.
Assurity reserves the right to order, at the company’s expense, evidence of insurability which the company feels is necessary for the prudent evaluation of the risk on any application.
Assurity is a marketing name for the mutual holding company Assurity Group, Inc. and its subsidiaries. Those subsidiaries include but are not limited to: Assurity Life Insurance Company and Assurity Life Insurance Company of New York. Insurance products and services are offered by Assurity Life Insurance Company in all states except New York. In New York, insurance products and services are offered by Assurity Life Insurance Company of New York, Albany, NY.