NU Online News Service, June 26, 2:11 p.m. – Protective Life Insurance Company, Birmingham, Ala., has introduced the Protective Preserver single-premium variable universal life insurance policy.
Consumers can use the policy to invest large sums of cash without worrying about federal estate taxes. Purchasers can invest policy assets in a variety of fixed and variable investment sub-accounts.
Optional features include a lapse-protection rider, which protects the policy against poor sub-account performance, and a long-term care accelerated death benefit rider.
Policyholders can use the LTC rider to produce the cash needed to pay nursing home or community care expenses, Protective says.