NU Online News Service, Sept. 25, 12:57 p.m. – The Vanguard Group, Valley Forge, Pa., the no-load mutual fund company, will be selling term life insurance from Peoples Benefit Life Insurance Company, Cedar Rapids, Iowa, and AUSA Life Insurance Company, New York, N.Y., directly through its Web site, at http://www.vanguard.com
Peoples Benefit and AUSA are both subsidiaries of AEGON N.V., The Hague, The Netherlands.
Vanguard will be selling policies with coverage amounts ranging from $100,000 to $10 million and a choice of 10-year and 20-year level premium periods. Only Vanguard clients and immediate family members are eligible.
The products will be available in 37 states and the District of Columbia.
Vanguard customers must be between the ages of 20 and 70 to buy coverage in most states. The maximum age is 60 in New York and Washington state. The underwriters will send paramedics to evaluate the health of the applicants.