Bankers Conseco Life
Fixed Universal Life
Bankers Conseco Life Insurance Company, Chicago, has introduced a new fixed interest universal life product, the TurningPoint FIUL.
The first universal life product included in the company's product portfolio gives Bankers' career sales agents a competitive product that can help clients plan better for retirement.
TurningPoint FIUL is permanent life insurance that builds cash value over the client's lifetime. Since gains are not tied to the volatility of the stock market, this product can deliver more stable returns. In addition, the product offers flexible premiums that can be adjusted to meet the needs of their budget.
The TurningPoint FIUL offers several features and benefits including an interest bonus in policy years 16-plus, an increased death benefit guarantee period, and a new Preferred Plus Non-Tobacco rating class.
For more information, visit www.bankersconseco.com.
American General Life
Indexed Annuity
American General Life Companies, Houston, has relaunched the Horizon Index Annuity. The relaunch features a 66% increase in the premium bonus on the 12-year version and a 100% increase on the nine-year version of the product, as well as a renewed marketing focus on the two-year, point-to-point crediting methodology, currently with a 20% cap.
The bonus on the nine-year version of the product has been increased from 2% to 4%, a 100% improvement, while the bonus on the 12-year version of the product has moved from 3% to 5%, a 66% higher rate. The bonuses are credited and vested immediately (but subject to surrender charge). Annuitization is never required.
For more information, visit www.aglife.com.
Allianz
Fixed Indexed Universal Life
Allianz Life Insurance Company of North America, Minneapolis, has introduced GenDex FoundationSM, a flexible premium fixed indexed universal life insurance policy. In addition to providing a death benefit, GenDex Foundation has affordable premiums, guarantees and a variety of other options that enable consumers to create a policy customized to fit their specific needs.
In addition to providing beneficiaries with a death benefit, the GenDex Foundation offers life insurance solutions for consumers in various life stages, such as:
o Affordable and flexible premiums
o Fixed and indexed interest options
o A positive, adjustable annual floor in the event the index is flat or negative
o Long Term Care Accelerated Benefit Rider, which provides policyholders death benefit acceleration or continuation to help pay for long-term care expenses, along with other optional riders (all available at an additional cost)
Universal life provides coverage for the policyholder's entire lifetime, and the flexibility to pay premiums at any time and in any amount (subject to some limits), as long as policy expenses and cost of coverage are met. Universal life policies also have the potential for tax-deferred cash value accumulation that may be accessed under certain circumstances. With the GenDex Foundation, the cash value can accumulate at a declared interest rate or by potential indexed interest. Indexed interest is credited based on changes in an external index or indexes, which policyholders choose when they purchase the policy.
For more information, visit www.allianzlife.com.
Sun Life Financial
Employee Benefits
Sun Life Financial, Wellesley, Mass., has announced a new focus on providing a full range of employee benefits to the public sector. This initiative features a new Group Life plan designed specifically for public sector entities, including schools and municipalities. Understanding that state and local governments have unique needs, Sun Life is offering a plan that specifically supports public sector employers and employees, including public works, police and fire personnel.
The plan calls for enhanced Waiver of Premium provisions to cover older employees and extended Leave of Absence coverage to meet the needs of teachers. The plan also offers an optional Felonious Assault AD&D Rider that covers employees such as safety officials and school district personnel.
In addition to a Group Life plan, Sun Life is offering Disability and Dental plans to the public sector. Eligibility requirements have been enhanced to include more part-time employees, and employees are not required to use accumulated sick leave while on long-term disability.
Long-term disability plans come standard with Sun Life's Retro Disability Benefits and Zero Day Residual Benefit. Optional benefits such as a Pension Contribution Benefit and a Child Care Benefit are also available. Dental plans are offered with optional Vision Insurance, Adult Orthodontia, a Cosmetic Rider, and more.
For more information, visit www.sunlife-usa.com.
