NU Online News Service, March 5, 12:51 p.m. – Three life insurers are introducing new products this week for residents of New York state.
? TIAA-CREF Life Insurance Company, New York, a unit of Teachers’ Insurance and Annuity Association-College Retirement Equities Fund, says it is now offering single-life and survivorship life variable universal life insurance products to the general public.
The unit began selling annual renewable term and 20-year level term to the general public in 2001.
Investment account choices include a social choice equity account as well as traditional stock index, growth equity, growth income and international equity accounts.
The minimum coverage amount is $100,000.
? Massachusetts Mutual Life Insurance Company, Springfield, Mass., has received state approvals to offer five new survivorship universal life and variable life policies in New York.
The three survivorship universal life policies — the SUL, SUL10 and SULG — are the first MassMutual has offered in New York.
The other new policies are the Variable Universal Life II policy and the Universal Life 2 Guaranteed policy.