The Guardian Life Insurance Company of American (Guardian), New York, N.Y., has announced a significant price-related enhancement to its ULtraLife Current Assumption Universal Life product.
Guardian is accomplishing this benefit via cost of insurance (COI) adjustments that will positively affect new and inforce policyholders. As a result the base ULtraLife UL policy is priced even more competitively for pay-to-endow and pay-to-carry scenarios (both level and short pay), offering clients affordable and flexible lifetime coverage with the potential for cash accumulation.
In addition, ULtraLife UL’s minimum guaranteed interest crediting rate of 3.5% is among the highest in the industry, said Michael Ferik, FSA, Guardian Senior Vice President, Individual Life.