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First Penn Cuts Some GTO Rates

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NU Online News Service, July 22, 4:45 p.m. – First Penn-Pacific Life Insurance Company, Schaumburg, Ill., a unit of Lincoln National Corp., has cut some guaranteed level-premium term life insurance rates for its Great Term Options policy series.

First Penn is offering the cuts to policyholders in preferred risk classes who buy policies with face amounts of $250,000 and up.

The new GTO rates are available in the District of Columbia and all states where First Penn conducts business except New Jersey, where approval is pending.

The GTO series offers a choice of five guaranteed level-premium periods ranging from of 10 to 30 years.