In what appears to be an industry-wide trend, American Family Life Insurance Company (AFLIC) has signed an agreement with Kansas City Life Insurance Company (Kansas City Life) to transfer its remaining variable universal life insurance policies and variable annuities to Kansas City Life.
AFLIC, the life insurance affiliate of Madison, Wis.-based American Family Insurance Group, has been out of the sale of variable products since 2009 but they continued to service existing variable life insurance policies and variable annuities.
Companies seem to be struggling with variable products as market volatility and low interest rates squeeze them.
