NU Online News Service, May 25, 2004, 1:20 p.m. EDT – Columbus Life Insurance Company, Cincinnati, has introduced the Nautical Term life insurance policy.[@@]
The policy offers a choice of 10-year, 20-year and 30-year premium guarantee periods and return-of-premium options with 20-year and 30-year plans.
Columbus, a unit of Western & Southern Financial Group, will issue the policy to insureds ages 18 to 75. Policyholders can exchange the term policies for any of Columbus Life’s permanent life policies that are available at the time of the exchange.
The right to exchange the term policy for a permanent policy ends when the policy term expires or, if the insured turns 70 before the term expires, when the insured turns 70.