A life insurer for military personnel and Federal employees has rolled out a new universal life policy.

Called Future First Universal Life, the policy is a product of Trans World Assurance Company, San Mateo, Calif.

The policy allows flexible premium payments and death benefits; withdrawals and loans; and additional deposits after the policy is purchased. Charitable giving riders are also available.

Trans World says the UL structure was designed to make the most of the potential for asset accumulation and also allow an increasing death benefit.

The policy is invested primarily in United States Treasuries, the company says.