ConsecoLifeOptions Launched by Conseco Insurance Company as New Universal Life Product
30 August 2008 - 6:03AM
PR Newswire (US)
CARMEL, Ind., Aug. 29 /PRNewswire/ -- Conseco Insurance Company, a
life and health insurance company, today announced the availability
of its new, indexed universal life insurance product,
ConsecoLifeOptions. The policy provides upside potential with
downside protection. ConsecoLifeOptions is an indexed universal
life policy that offers 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/or a spouse, such as the
Nursing Care Confinement Waiver of Surrender Charges Rider which
allows 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. Partial
withdrawals or loans can be made from a ConsecoLifeOptions policy
yearly beginning in the second policy year (subject to policy
provisions), and clients have the flexibility to change their
policy as needed. "ConsecoLifeOptions offers our agents a flexible
indexed universal life product with a first-year commission paid on
rolling target premiums through the second year," said Steven M.
Stecher, President of Conseco Insurance Group. "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." The Conseco insurance companies serve
more than 4 million customers across America. Conseco's cancer,
heart/stroke, accident and Medicare supplement policies protect
people against major unplanned expenses; Conseco's annuities and
life insurance products help people plan for their financial
futures. DATASOURCE: Conseco Insurance Company CONTACT: Media
Oakes, Corporate Communications of Conseco Insurance Company,
+1-317-817-3768 Web site: http://www.conseco.com/
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