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Illinois Mutual adds features to whole life policy

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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.

“These selling solutions will position our agents’ clients for greater financial success, as our LFWL is now more competitive than ever,” said Craig Parr, the company’s vice president of sales.

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