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Life Health > Life Insurance

Policy Strengths

By Staff Writer

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AmerUs American Executive

Moderate premium levels; low face amounts; favorable early cash values; termination dividends.

AmerUs Special 98

Low premium levels; favorable cash accumulation or paid-up insurance for retirement.

Canada Life LP 98

Designed for low premium market with maximum death benefit.

General American Whole Life 100 (96)

Strong historical performance; guaranteed survivor purchase option (GSPO) grants up to 5 insureds right to acquire additional insurance without evidence of insurability at death of the primary insured.

Guardian Whole Life 100/1000 & Whole Life Paid Up at 96

Enhanced accelerated benefit (chronic and terminal illness) and enhanced PUA rider for flexible premiums; strong historical performance.

Lafayette Life Graded Premium Whole Life (levelized)

A 15-year increasing premium product; levelized version with a non-guaranteed level premium slightly higher than the first year premium through a flexible premium PUA rider; term alternative.

MassMutual Financial High Early Cash Value WL

Designed for asset protection to businesses: deferred compensation, split-dollar, key employee coverage, buy-sell agreements, and Section 162 plans.

MassMutual Financial Whole Life

Designed for low-

premiums, dump-ins.

MONY Whole Life

Wide range of size banding; full complement of riders, including maturity extension and enhanced accidental death benefit; purchase option rider guarantee future increases regardless of changes in health.

MTL Insurance Company

High early cash values; guaranteed cash value starts in year 2; cash values exceed premium paid by year 4; flexible PUA allows a limited stop and go (can skip up to two years of purchases); term blendabilty with replacement of term portion with permanent coverage.

National Life NL LifeCare

High guaranteed cash value; six payment options (1, 5, 10, 15, 20, to age 100); customizable long term care riders; 1035 exchanges with loans; smokers pay non-smoker rates for first 2 years (lifetime if quit).

New England Financial Whole Life 250

Low nonsmoker premiums; same premium for standard nonsmokers as preferred nonsmokers; flexible term rider allows convertibility to age 90.

New York Life AD 101 Whole Life

Customizable through riders including term/PUA; designed primarily for middle market consumer (modified premium WL for advanced market); business applications; expanded substandard classes.

Northwestern Mutual Adjustable CompLife

Wide array of premium levels and guarantees from a fully guaranteed whole life contract to one comprised almost entirely of term; can be structured so that the current dividend level is sufficient to maintain a level death benefit over the life of the contract.

Northwestern Mutual Select 100

Lowest-premium traditional plan from company; available to most nonsmokers; designed for long-term value.

Penn Mutual LifeWise/LifeWise Plus

Designed for long-term cash values.

Security Mutual Life of NY Customizer 5

Choice of a traditional whole life design with a guaranteed level premium payable to maturity (age 100) to a guaranteed 8 payment whole life design or anything in between; rider options.

Union Central Life Whole Life 98

Designed for competitiveness in the above age 55 market; flexibility with PUA, term blending and estate protection riders; dividend stability (no change since 98).

Reproduced from National Underwriter Life & Health/Financial Services Edition, June 3, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

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