NU Online News Service, Oct. 18, 12:05 p.m. – Zurich Life Insurance Company, Schaumburg, Ill., has launched a new universal life policy, Zurich Lifetime.
The company says the product provides flexible, long-term life insurance protection at affordable, guaranteed premiums while generating cash value.
“Our market research indicates that the recent volatility in the equity markets has created consumer demand for affordable life insurance coverage with a guaranteed premium,” says Ken Olson, senior vice president and national sales manager of Zurich Life.
Zurich Lifetime allows policyholders to pay lower premiums for limited times, allowing a three-year catch-up provision so that coverage remains guaranteed. It also offers secondary guarantees to age 100, and the policy’s cash value can provide policyholders with a resource for low-cost loans.
For agents, the product offers multi-year target premiums and a commissionable policy fee, Zurich Life says.
Zurich Life is an affiliate of Zurich Financial Services Group, Switzerland.