NU Online News Service, June 12, 12:41 p.m. – American Express Financial Advisors, Minneapolis, a unit of the American Express Company, has introduced the American Express Single-Premium Variable Life policy.
American Express is issuing the variable life policy through its Minneapolis-based IDS Life Insurance Company subsidiary.
The policy is designed for clients who want to leave more to family members and charities, American Express says.
Policyholders can choose from a menu of 56 variable sub-accounts and one fixed account.
American Express will offer applicants who meet certain age and premium requirements a simplified underwriting process.