NU Online News Service, Dec. 1, 2004, 4:07 p.m. EST
A carrier is building a charitable giving benefit into certain high-end variable universal life insurance policies.[@@]
American Express Financial Advisors, Minneapolis, has started offering the feature to purchasers of its American Express Variable Universal Life IV ? Estate Series and American Express Life Protection Select ? Estate Series products.
The Estate Series products are aimed at clients who need at least $1 million in life insurance protection.
The charitable giving benefit rider lets clients who buy Estate Series policies earmark an extra death benefit for charity.