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Allstate Unit Adds 2 UL Products

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NU Online News Service, July 29, 2004, 2:04 p.m. EDT

A unit of The Allstate Corp., Northbrook, Ill., has introduced new universal life insurance products.[@@]

The unit, Lincoln Benefit Life Company, has added the Legacy Secure UL and Legacy Choice UL policies.

Both products include a coverage protection rider that can provide a choice of death benefit guarantee periods. Insureds can choose, and change, the guarantee period and payment period, Allstate says. The Legacy Choice UL product includes a payment option that can eliminate the need for premium payments during the first year that the policy is in effect, Allstate says.

Lincoln Benefit will be backing the product’s guarantees.

Allstate will be selling the products through Allstate agents and independent representatives who are registered to sell Lincoln Benefit products.