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Minnesota Life Rolls Out Adjustable Life Policy

By Staff Writer

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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.

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.