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Minnesota Life Rolls Out Adjustable Life Policy

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NU Online News Service, April 12, 2004, 4:52 p.m. EDT – Minnesota Life Insurance Company has launched a new adjustable life policy, VAL Summit, that provides a high death benefit for a relatively low premium.[@@]

Minnesota Life, St. Paul, Minn., says it developed the product as an alternative to variable products that focus on maximizing death benefits.

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The company is basing product pricing on the 2001 Commissioners Standard Ordinary mortality tables, and the underwriting categories for the VAL Summit policy will be similar to those for a sister policy, the VAL Horizon policy, which focuses on maximizing living benefits, Minnesota Life says.