Frequently asked questions

Who is Life Assurance Company of America?


Life Assurance Company of America is a privately held Illinois licensed and domiciled stock life insurance company that has been in business since 1970. It is authorized to underwrite and issue life, accident, and health insurance policies in Illinois. Although it began as a traditional life insurance company selling traditional life insurance policies to customers via a face-to-face customer interaction between an insurance agent and the customer, it is transforming itself into a “digital” direct-to-consumer life insurance company that sells specialty and niche life insurance policies via the internet, including social media.




What am I buying?  What is covid-19 one-year term life insurance?


For a price of $99, you purchase a one-year term life insurance policy that provides a death benefit of $10,000 to your beneficiaries or estate if you die of covid-19 during the term of the policy. It does not provide coverage or a death benefit if you die of a difference cause, such as a heart attack, for example.




Is there a blood test, physical, or urine test required?


No. We rely on your representations regarding your age and health. Please review our terms and conditions for more details.




Are there any restrictions or does everyone qualify for coverage for the covid-19 one-year term life insurance policy?


You must be age 18-65 at the time of application and purchase. Also, you must generally be healthy. For example, although we don’t check your health or the accuracy of your representations, this policy is not for you if you have already had covid-19 or have other serious illnesses, such as cancer, diabetes, or heart disease, just to name a few. Please review our terms and conditions for more details.




Can I get a different limit?


Currently, no. We have tried to create a simple product that protects your loved ones from the cost of a death caused by covid-19. In most circumstances, a death benefit of $10,000 is sufficient to cover the cost of a standard funeral and/or cremation.




Do I have to be a United States citizen or legal resident?


No. However, we do need some kind of legal document for identification purposes in the event of your death. You can email us a scanned or photographed copy of your ID. We can accept a driver’s license, foreign driver’s license, a state identification card, a passport, a visa, a birth certificate (issued in the United States or a foreign country), just to name a few examples. You can contact us if you have questions about what qualifies as an acceptable form of identification.




I don’t like sharing my personal information on-line, what information does Life Assurance Company of America require in order for me to buy a covid-19 one-year term life insurance policy?


We only require the following information: First Name, Last Name, Email Address, Telephone Number, Date of Birth, Primary Beneficiary Name(s), Contingent Beneficiary Name(s), and Zip Code. We don’t need your physical address or your social security number. Of course, you also need to make a payment, so some payment information is required if you pay by credit card. Less information is required if you pay via PayPal or a digital wallet.




How will I receive my covid-19 one-year term life policy?


After you fill out the required information on our shopping cart page, make your payment, and click that you have reviewed the terms and conditions, you will receive a confirmation email which contains a link to a copy of your policy.




What is your return/refund policy?


You automatically get a 10-day “free” look period. After this period, the covid-19 one-year term life policy is fully earned. However, we want you to be happy. If you want to cancel your policy, we will consider a “pro rata” refund if the policy has been in effect for less than four (4) months.




Am I protected from a financial failure of Life Assurance Company of America?


Yes. Under Illinois law, there is a fund, specifically called the Illinois Life and Health Guaranty Association, that will pay death benefits owed by an issuing life insurance company licensed under Illinois law in the event of financial failure. For a term life insurance policy, the death benefit payment is capped at $300,000. For an annuity, the maximum protected amount is $250,000. Companies are prohibited from advertising that they or their products are fully insured, even though this fund exists.




Is this a fraud or a scam?


No. Life Assurance Company of America is an Illinois licensed and domiciled stock life insurance company that has been in business since 1970. You can check us out via the company lookup feature on the Illinois Department of Insurance website. Or, you can check us out on our website at www.lifeassurancecoa.com. Pursuant to applicable laws, the covid-19 one-year term life insurance policy was filed with and approved by the Illinois Department of Insurance.




What if I have more questions about Life Assurance Company of America or the covid-19 one-year term life insurance policy?


You can visit our website at www.lifeassurancecoa.com and use the chat function or email us at admin@lifeassurancecoa.com. While we have a working telephone number, we strive for a fully digital customer experience.





Life Assurance Company of America
17W220 22nd Street - Suite 410
Oakbrook Terrace, IL 60181

  • Facebook
  • Instagram

©2020 by Life Assurance Company of America.Proudly created by Ava Digital Marketing Group.   All rights reserved.