Midland National
Universal Life
Midland National Life Insurance Company, Sioux Falls, S.D., has introduced Essential Guaranteed Universal Life into their UL product line. Essential Guaranteed UL is more affordable than the previous guaranteed UL product in almost all scenarios, while at the same time offering several favorable changes to underwriting:
o In nearly all cases, premiums are lower than previous product especially with shorter pays, shorter guarantees and the standard underwriting class
o Relaxed underwriting for preferred class
o Preferred underwriting criteria added for ages 71-plus
o Five underwriting classes
o Death benefit guarantee to any age up to age 120 with no premiums after age 100
o Low-cost premiums to guarantee death benefit
o New Guaranteed Exchange Privilege: ability to exchange up to the policy's specified amount to an accumulation type UL product without evidence of insurability or surrender charge
o Two-year rolling target premiums
Essential Guaranteed UL is designed for clients seeking guaranteed lifetime death benefit protection and suits many individuals and purposes:
o For conservative clients searching for death benefit guarantees
o For meeting family obligations on a limited budget.
o As protection for outstanding loans, whether these loans are personal or business.
o To provide coverage on other family members through the Children's Insurance Rider
For more information, visit www.mnlife.com/UL.
Pruco Life Insurance Company
Variable Universal Life
Pruco Life Insurance Company, a Prudential Financial company, Newark, N.J., has introduced a new variable universal life insurance policy that will give consumers the potential for cash value accumulation and can guarantee that their death benefit will not lapse regardless of how the underlying investments perform. The new policy, called VUL ProtectorSM, offers 13 asset allocation investment options including a money market account and fixed rate option.
In addition to a no lapse guarantee, VUL ProtectorSM offers an enhanced cash value rider and persistency credit for the policyholder beginning in year 13. VUL Protector is issued by Pruco Life Insurance Company in all states except New York.
For more information, visit www.news.prudential.com.
