Sister insurers have come out with a universal life insurance policy option that could encourage insureds to take better care of themselves.

Protective Life Insurance Company and West Coast Life Insurance Company, units of Protective Life Corp., Birmingham, Ala., are selling the new Return of Substandard Charges Option along with the ProClassic and LifeTime Advantage Plus flexible-premium universal life policies.

Insureds with substandard underwritings can use the ROSCO rider to get substandard charges returned as a credit to the policy value at a designated year based on the issue age, Protective Life says.

Once insureds live to the designated year, the substandard charges will be reduced to standard charges, the company says.