An insurer has added a new guaranteed insurability rider to a universal life product.

Mutual of Omaha Insurance Company, Omaha, Neb., says the designers of the updated policy, the AccumUL Plus policy, have reduced the minimum face amount to $25,000, from $50,000.

In addition to the insurability rider, the product also includes a new accelerated death benefit for terminal and critical illness rider; a new guaranteed insurability rider; stronger illustrated surrender value performance after age 65; new, longer-term, no-lapse protection for target premiums; and an elimination of pro-rated surrender charges on partial withdrawals.