April 07, 2008 at 12:42 PM
An insurer says it will be lowering the cost of keeping universal life coverage in force.
AXA Equitable Life Insurance Company, New York, a unit of AXA S.A., Paris, says it is cutting rates for the Athena Universal Life policy with a built-in Lapse Protection Rider.
Consumers who buy the Athena UL-LPR policy and follow program rules can keep coverage from lapsing even if interest rates go down.
AXA Equitable is responsible for backing the product guarantees.
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