Two mutual insurers have updated their permanent life insurance lines.
The life operation at Nationwide has started a Nationwide Indexed Universal Life (IUL) family of products.
Penn Mutual Life Insurance company has introduced the Versatile Choice Whole Life policy.
The new Nationwide IUL product family includes two products: the Nationwide Indexed Universal Life Accumulator II policy, which is aimed at people who are interested in eventually generating a substantial amount of income, and the Indexed Universal Life Protector II policy, which is aimed at people who are more interested in getting a policy with affordable death benefits.
Both IUL products offer purchasers access to seven different crediting options and a fixed account, Nationwide says.
A long-term benefits rider, the Long-Term Care Rider II rider, is available with both policies.