Insurtech Platform Asteya Introduces New Individual Disability Insurance Product

GlobeNewswire

MIAMI, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Insurtech platform Asteya announces today its newest addition to the company's product offering, Sickness & Injury Individual Disability Income Insurance. This new offering helps to protect an individual's income should they find themselves too ill or injured to work with a qualified/covered sickness or injury.

The new Disability Income Insurance helps protect a percentage of an individual's source of income and provides a monthly benefit amount for a two or five-year period. Benefits can be received each month as long as the insured remains disabled from a covered sickness or injury and are unable to work. Subject to underwriting, a person is eligible for this coverage as long as they are a US citizen, resident, or Green Card holder, they are between the ages of 18 and 65, they are working or self-employed for at least 30 hours a week and make minimum yearly earnings of $20,000.

"This type of offering is a great next step for Asteya," said Hadi Radwan, Co-Founder of Asteya. "Our rollout for the product will be gradual but intentional. We're glad to finally be able to offer this type of Disability Income Insurance as it is another layer of protection for all individuals."

The underwriting and product teams led by Matt Zuba, COO and Chief Underwriting Officer, Joseph Khoury, Chief Business Development and Product Officer, and LyLy Hin, AVP of Executive Benefits and Program Management, were core in launching this product.

Asteya's newest offering is currently available to customers in Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia, Washington, West Virginia, with additional state rollouts happening thereafter.

"Our team is working diligently to continue launching new and impactful products that aim to secure and safeguard people's futures. The Sickness and Injury Disability Income Insurance comes right on the heels of the Term Life Insurance launch, both of which seek to protect you and your family's tomorrow. As an Insurtech company, Asteya constantly looks for ways to update and innovate its policy offerings," said Hadi Radwan.

Asteya's Sickness & Injury Individual Disability Income Insurance policies are underwritten and issued by Fidelity Security Life Insurance Company™, Kansas City, Mo, and administered by Risk Insurance and Reinsurance Solutions. For more information on Asteya, its products, and when its newest offering will be available in your state, visit www.Asteya.world.