NU Online News Service, April 2, 6:45 p.m. – CNA Life, Nashville, a unit of CNA Financial Corp., has introduced the CNA Maximizer policy, a term life insurance policy designed to protect the families of consumers who take out mortgage loans.
If an insured dies, the policy pays off the entire loan. If the insured becomes disabled, the policy can generate enough income to help the family make the mortgage payments.
CNA is also offering a return-of-premium feature. If an insured pays off a mortgage without drawing on policy benefits, CNA says it will return the policy premiums.
The policy is available in a 15-year version and a 30-year version.