Illinois Mutual adds features to whole life policy

Two new features are now available for Illinois Mutual’s Life Foundations Whole Life (LFWL) policy — a paid-up insurance (PUI) rider and enhanced dividend schedule.

With a PUI rider, the additional premiums paid will purchase paid-up life insurance, which increases the total death benefit and accelerates the policy’s cash value, which grows on a tax-favored basis. The newly enhanced dividend schedule will give policyholders the potential for increased dividends.