NU Online News Service, Jan. 18, 2005, 5:20 p.m. EST

New York Life Insurance and Annuity Corp. has introduced a new universal life insurance policy that reflects recent improvements in U.S. mortality rates.[@@]

NYLIAC, a subsidiary of New York Life Insurance Company, says its Protector 2005 universal life insurance product offers lower pricing, based on the new 2001 CSO mortality tables developed by the Society of Actuaries, Schaumburg, Ill.

The Protector 2005 policy offers a no-lapse guarantee rider with such options as 10-year and 20-year durations, coverage to age 85 or to age 100, and a lifetime guarantee.

The product also gives clients the ability to increase or decrease coverage and to cover the entire family, or cover others with an insurable interest, under a single policy.