Frequently Asked Questions

1. Can I ever be cancelled?
No. Absolutely not, assuming you make all premium payments when due.2. Can the premium ever increase?
No. The premium amount will never increase.3. Can I add to the policy if I have more grandchildren in the future?
Yes. You can apply for additional insurance coverage at any time so, if you have more grandchildren they can be added in the future provided that you are still insurable.

4. Can I purchase AfterThoughts Birthday InsuranceSM for people other than my grandchildren?
Yes. You may purchase AfterThoughts Birthday InsuranceSM for anybody that you wish to remember you such as a son or daughter, niece or nephew, or anyone else.

5. How do you keep track of my grandchild’s address over the years if they move or change their name after marrying?
Insurance companies deal with this issue all the time when beneficiaries move or marry.

When your grandchildren receive their annual birthday greeting and check, their statement will include a notice asking them to report any address change. In the event a greeting and check is returned due to an incorrect address, Assurity Life Insurance Company has a process to track forwarding addresses.

6. What happens if I stop making my annual payments on the policy?
If you stop making your premium payments, you will maintain some level of paid-up insurance. In this case, your grandchildren will still receive their annual greeting card from you after your death, but the amount of the annual gift will be reduced. If you stop making payments in the first few years, the amount of the annual gift to your grandchildren is substantially reduced.

To ensure that your grandchildren receive the annual gift that you desire, you should make sure that your premiums are paid as long as you are alive.

7. Do I need to take a physical to qualify for the insurance?
No. However, you will be asked to answer a few basic health questions on your application.

8. Can the card and check come from both grandparents?
Yes. You can personalize the card so that it references both grandparents. However, you must select only one person to be insured and the annual card and gift will only begin after the death of the person who is insured.

9. What happens if my grandchild were to die before me?
If you have named more than one grandchild as a beneficiary, all surviving grandchildren will share equally, so if a grandchild were to die before you do, the other grandchildren’s annual gift would increase proportionately. If you have named only one grandchild as a beneficiary and that grandchild dies before you do, you may elect to name a contingent beneficiary.

10. Does this life insurance policy have Cash Value?
Yes. There is guaranteed cash value so, if at some point in the future you were to change your mind and want to cancel the policy, you would receive a payment for the cash value that has accumulated in the policy up to that point in time.