Life Insurance Company of the Southwest is introducing the Foundation Universal Life insurance policy.
The Foundation UL policy should provide at least 20 years of coverage for insureds who pay the minimum premium, according to NLV Financial Corp., Montpelier, Vt., the parent of Life Insurance Company of the Southwest, Dallas.
NLV does business as National Life Group.
The policy is designed mainly for the mortgage market, but it also could be used as an alternative to term life and in personal and business planning arrangements, National Life says.
The available riders include accelerated benefits riders that come with the policy at no additional costs, National Life says.
The accelerated benefits riders can provide living benefits for an insured who suffers from a terminal, chronic or critical illness.