A unit of Conseco Inc. is offering a new indexed universal life insurance policy.
The product, ConsecoLifeOptions, offers a guaranteed minimum index credit of 1%, according to Conseco, Carmel, Ind.
The policy comes with a choice of 8 riders, including a rider that offers a nursing care confinement waiver of surrender charges. Clients confined to a nursing care center for at least 30 days by a doctor’s order can withdraw up to 25% of the policy’s accumulated value without paying a surrender charge, Conseco says.
The policy also offers 4 crediting options, including 2 annual point-to-point options, a 12-month averaging option and a fixed rate option, Conseco says.