Right to cancel - The policy contains a 30-day free look period.
Renewability - The policy is renewable to age 95.
Contestability - Assurity has the right to contest the validity of the policy based on material misrepresentations made in the application. Assurity cannot contest the validity of the policy after it has been inforce for two years from the issue date, except for fraudulent misstatements made in the application, when permitted by the law of the state where the policy is issued.
Suicide - If the insured person dies by suicide within two years of the issue date or two years of the last reinstatement date, Assurity’s liability is limited to a refund of premiums paid, less benefits paid under any riders.
Misstatement of Age and/or Gender - If the Insured Person’s age and/or gender (unless this policy was issued on a gender-neutral basis, in which case male rates will be assumed) has been misstated in the application, Assurity will revise this policy and any applicable riders’ benefit amounts to the amount the most recent premium paid would have purchased for the correct age and/or gender (if this policy was issued on a gender-distinct basis). The revised Face Amount will use Our published rates in effect on the Issue Date.
Misstatement of Tobacco Use - If, during the first two years of this policy, the issue of tobacco status of the Insured Person has been misstated, Assurity will revise this policy and any applicable riders’ benefit amounts to the amount the premium paid would have purchased using the correct tobacco status on the Issue Date. The revised Face Amount will use Assurity’s published rates in effect on the Issue Date.
Termination - The policy will terminate on the earliest of the following: When premium is not paid by the end of the grace period; the date Assurity receives written notice to terminate; upon the person’s death; or on the expiration date listed on the policy schedule.
Riders may contain additional conditions, limitations and exclusions.
NOT AVAILABLE IN NEW YORK.
Hero Life is underwritten by Assurity life Insurance Company. Assurity is A-(Excellent). A.M. Best ratings for insurers’ Financial strength range from A++ (Superior) to F (In Liquidation).