Assumption Life was founded in 1903 as the Foundation of Société l’Assomption in Waltham, Massachusetts. It started out as a fraternal benefit society and transitioned over the years into a leading and trusted life insurance provider.
The company has an extensive range of term life insurance products. FlexTerm covers individuals aged 18-75 for amounts ranging from $50,000 to $4,000,000. If your coverage is $499,999 or less, no medical exam is required. The other term policies are:
- FlexOptions is available in terms of 15, 20 or 25 years. It includes a disability insurance option and can be converted into a permanent policy.
- Youth Plus is for children aged 15 days to 17 years. Premiums stay the same for the life of the contract and coverage will not decrease until age 25.
- No Medical Term Plus covers individuals aged 20-70 for $50,000 to $250,000. Like FlexOptions, it can be converted into a permanent policy.
- No Medical Term covers individuals aged 20-70 for $50,000 to $150,000. No medical exam or attending physician statement are necessary.
Assumption Life’s permanent life products are equally extensive and customizable.
- Golden Protection covers policyholders aged 40-85 for up to $100,000 without a medical exam.
- Total Protection insures people aged 18-80 for up to $50,000 with no medical exam and no waiting period for accidental death coverage.
- No Medical Whole Life and No Medical Whole Life Plus covers individuals aged 20-70 for up to $150,000 and $250,000 respectively without any medical exam or blood tests.
- Essential Whole Life offers coverage of up to $4,000,000 to individuals aged 18-75. No medical exam is required.
There are two participating life insurance programs: ParPlus, which covers those aged 18-75 for up to $4,000,000 (payable over 20 years or for life) and ParPlus Junior, which ensures young people aged 15 days-17 years for up to $4,0000,000 and pays over a 20-year period. Neither product requires a medical exam.
Assumption Life is the best for non-medical insurance policies with customizable term policies and permanent life products.