Conseco Insurance Company has announced the availability of its new, indexed universal life insurance product, ConsecoLifeOptions. The policy is claimed to provide upside potential with downside protection.
According to the company, ConsecoLifeOptions can offer the opportunity for long-term cash buildup with a guaranteed minimum index credit of 1%. Clients can customize their coverage levels with eight riders that provide additional protection for themselves, children and a spouse.
The Nursing Care Confinement Waiver of Surrender Charges Rider allow clients to withdraw up to 25% of the policy’s total accumulation value without paying a surrender charge when confined to a qualified nursing care center for at least 30 days by a physician’s order.
ConsecoLifeOptions has four crediting options for clients to choose how their policy builds value, including two annual point-to-point options, a 12-month averaging option and a fixed rate option. Clients will always receive at least the minimum index credit of 1%, regardless of market performance.
Steven Stecher, president of Conseco Insurance Group, said: ConsecoLifeOptions offers our agents a flexible indexed universal life product with a first-year commission paid on rolling target premiums through the second year. The combination of long-term cash accumulation, the minimum 1% index credit and the optional riders makes it a compelling product in today’s competitive marketplace.