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October 27, 2006 at 03:34 PM
Midland National Life Insurance Company has introduced the XLDB equity-indexed universal life insurance policy.
The policy, part of the company’s XL policy family, offers purchasers a menu of 5 different stock indices, including the Dow Jones Industrial Average, the NASDAQ-100, the Standard & Poor’s MidCap 400 and the Russell 2000 index as well as the S&P 500 index.
Policyholders also can choose between daily and annual point-to-point crediting methods, according to Midland National.
One option, an Indexed Premium Guarantee rider, can give policyholders the ability to extend a death-benefit guarantee for any length of time up until the insured turns 121.
