NU Online News Service, Dec. 13, 2004, 9:31 a.m. EST
A Newport Beach, Calif., life insurer is updating its menu of universal life and no-lapse guarantee products.[@@]
Pacific Life Insurance Company has introduced 2 UL policies and updated the terms of the Flexible Duration No Lapse Guarantee Rider.
The new UL policies are the Versa-Flex V, 2004, flexible-premium UL policy and the Pacific Estate Preserver II last survivor UL policy.
Both UL policies offer flexible premiums, no maturity date, a 3% guaranteed minimum interest rate, and a reduction in current cost of insurance charges when the total death benefit reaches $1 million.