Bankers Life and Casualty Company is now offering InnovativeLife SP I, a single-premium whole life insurance policy.
The product has a one-page application, single premiums starting at $2,500, and simplified issue with only two qualifying medical questions. The policies are available up to age 85 and, in most states, an accelerated death benefit rider can be added at no cost.
"InnovativeLife SP I nicely complements Bankers' LifeDirections portfolio while helping meet the retirement goals of the middle market," says Scott Perry, president of Bankers Life. "This new product provides permanent life insurance protection that builds cash value at a guaranteed interest rate, essentially increasing the value of your estate."
InnovativeLife SP I is currently available through Bankers' career agents in 30 states: AZ, CO, CT, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MO, MS, NC, NE, NH, NJ, OH, OR, PA, SC, TN, TX, VA, WA and WI. The remaining 20 states, including the District of Columbia, are expected to offer the product later this year.
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
