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Jefferson Pilot Cuts Term Face Value Minimum

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NU Online News Service, Sept. 9, 2004, 5:28 p.m. EDT

Jefferson Pilot Financial, Greensboro, N.C., has introduced the JPF Prelude Plus GP series of term life insurance policies.[@@]

The company’s old Prelude GP series of term life policies had a minimum face amount of $1 million. The new series cuts the minimum face amount to $500,000, according to Jefferson Pilot.

Customers can choose premium guarantee periods of 10, 15, 20 or 30 years. Term policyholders can convert to other types of coverage until the end of the level-premium period or age 69, whichever comes first.

Jefferson Pilot, a unit of Jefferson-Pilot Corp., is issuing the policies through its Jefferson Pilot Financial Insurance Company unit.