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GE Financial Adds New VUL Policy

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NU Online News Service, Feb. 20, 1:13 p.m. – GE Financial Assurance, Richmond, Va., is introducing the GE Accumulator variable universal life insurance policy.

GE Financial, a unit of General Electric Capital Corp., Stamford, Conn., is issuing the VUL policy through GE Life and Annuity Assurance Company, Richmond, and selling the policy through what it calls “key customer firms.”

Product features include single and joint life coverage in one product, a death benefit enhancement rider, and a choice of more than 40 brand-name subaccounts.

Sales features include a streamlined application process, advanced sales illustration capabilities, and marketing and service support, GE Financial says.

GE Financial is one of several large insurers that have added or upgraded VUL products in the past three weeks. Others include affiliates of AEGON N.V., The Hague, Netherlands; the ING Groep N.V., Amsterdam; MetLife Inc., New York; and Nationwide Financial Services Inc., Columbus, Ohio.

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