NU Online News Service, June 11, 4: 00 p.m. – MONY Life Insurance Company of America, a subsidiary of The MONY Group Inc., New York, says it has introduced a new custom universal life insurance product to the company’s protection product portfolio.
MONY’s new custom UL product is a flexible premium adjustable life to maturity age policy that provides policyowners with greater control over premium, cash value accumulation and death benefit options and guarantees than those typically found in traditional types of insurance products, says MONY.
The product also offers guaranteed death benefit to age 100. The rider that ensures this benefit guarantees that, during a customer’s lifetime, the policy will not lapse regardless of the cash value, provided certain requirements are met, says the company.
The Custom UL will be made available to customers through all of the company’s distribution channels, including MONY’s career system of financial professionals and MONY Independent Network, a complementary distribution channel of brokerage general agencies and broker-dealers for MONY’s protection and accumulation products. The Custom UL is well matched with the company’s target market of pre-retirees, family builders and small business owners, claims the company