Liberty Updates Whole Life Policy

January 27, 2009 at 07:00 PM

Share & Print

A New England company is aiming a single-premium whole life insurance policy at the estate planning market.

Liberty Mutual Group, Boston, says its Liberty Life Assurancy Company has started selling a revised version of the Liberty Series Estate Maximizer single-premium whole life insurance policy.

The single premium immediately buys a death benefit that is larger than the original payment, the company says.

For a 65-year-old woman, paying a $50,000 single premium would guarantee beneficiaries a payment of $102,105, the company says.

Liberty Life Assurance will lock in the interest rate for a full year and is offering a 100% return-of-principal guarantee.

Purchasers can buy an accelerated death benefit rider that can pay up to 90% of the death benefit to an insured who becomes terminally or chronically ill.

Liberty Life Assurance is responsible for backing the products guarantees.

NOT FOR REPRINT