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By 
June 12, 2019 at 01:52 PM
Colonial Penn — a subsidiary of CNO Financial Group Inc. — has introduced a collection of three life insurance policy “living benefits” riders aimed at consumers who buy coverage through the direct-to-consumer sales channel.
The new Living Insurance life policy options are the Chronic Illness + Terminal Illness rider, the Critical Illness Heart Attack/Stroke + Terminal Illness rider, and the Critical Illness Cancer + Terminal Illness rider.
(Related: CNO Reports Higher Annuity Sales)
Colonial Penn has already been selling life insurance through direct-to-consumer channels, using a simplified issue underwriting strategy.
The new riders can help a purchaser get up to 50% of the death benefit early, if the purchaser ends up facing the kinds of health problems that trigger a rider benefits payout, such as cancer, a stroke, or a terminal illness, according to Colonial Penn.
