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.
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