A life insurer is selling a collection of new universal life insurance policies that use the 2001 Commissioners Standard Ordinary mortality tables.
American General Life Companies, Houston, a unit of American International Group Inc., New Yok, says the new Elite UL, Elite Index and Elite Survivor Index policies will be written by American General Life Insurance Company in most of the country and by the U.S. Life Insurance Company in the City of New York in New York.
The Elite UL policy is a current-assumption universal life insurance that offers a guaranteed interest rate of 3%.
The Elite Index policy is a flexible-premium, adjustable-death-benefit, index interest universal life insurance policy. Buyers can choose between two interest-crediting accounts and a declared-interest account.