The Individual Division at American United Life Insurance Company (AUL), a OneAmerica company, Indianapolis, has launched a new product called the Enhanced Blended Insurance Rider to assist in building assets during challenging times.

The Enhanced Blended Insurance Rider allows both rider premiums and dividends to purchase one-year term insurance and paid-up additions equal to a specified amount of coverage for policyholders who qualify.

The minimum specified amount of Enhanced Blended Insurance Rider coverage is $25,000, and the maximum is three times the base policy face amount. The policyholder also has the option of adding the Waiver of Premium – Disability rider, which will waive premiums if the primary insured becomes disabled.

The Enhanced Blended Insurance Rider carries a premium that can only be determined from illustration software. This premium is based on issue age, gender, risk classification and the selected projected age-to-persist at the assumed dividend scale. After issue, Enhanced Blended Insurance Rider premiums may be increased or decreased, but only on policy anniversaries. The policy can be terminated at any time, which terminates the one-year term. The specified face amount may not be increased or decreased after policy issue. One-year terms may be converted partially or in whole to a permanent policy through age 64, but any such conversion terminates the rider. A termination of the rider also terminates the premium, but has no effect on any existing paid-up additions.

For more information on, visit AUL’s Individual Resource Center.