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Life Health > Life Insurance > Term Insurance

Ameritas Rolls Out Survivor Index Universal Life Policy: Life Moves

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What You Need to Know

  • Symetra has introduced a term life policy with a streamlined full underwriting process.
  • An insurtech company is offering digital agency creation and administration tool.
  • IFP is helping Everyday Life market its digital life insurance agency system to banks.

Ameritas is introducing a life insurance policy that comes with benefits guarantees.

The Lincoln, Nebraska-based insurer has unveiled a new survivor indexed universal life (IUL) policy. A survivorship life insurance policy covers two or more people. It pays benefits after the death of a specified insured.

The new Ameritas Value Plus Survivor Index Universal Life Insurance policy, or Value Plus SIUL policy, is designed to cover two people. The policy pays off after the death of the second insured.

A policyholder can tie changes in the policy cash value to the performance of an investment market index.

Some applicants may qualify to get a no-lapse guarantee.

The policy comes with a Care4Life Accelerated Benefit Rider, which can help pay for care for the surviving spouse. A couple can use the rider for protection against costs associated with a critical illness, a terminal illness or a need for long-term care.

In other life insurance moves news:

Symetra has introduced a SwiftTerm term life insurance product that offers a relatively fast full underwriting process as well as an instant and accelerated underwriting processes.

Symetra is making the policy available through brokerage general agencies. Life insurance agents and brokers will manage use of the system.

A producer is supposed to talk to a client, enter the client’s basic information into the system and then send the client a link to the online application. The producer can complete the application, or the client can complete the application.

Symetra is providing an Instant Approval review process, which takes about 25 minutes; an Accelerated Underwriting  process, which can take up to 72 hours; and a Full Underwriting process, which can may take about 30 days.

Approved applicants can pay for their coverage online. They also can use an electronic signature acceptance process and an electronic policy delivery process.

The policy is available with term periods of 10, 15, 20 or 30 years.

The minimum issue age is 20. The maximum issue age is 60 for terms of up to 20 years, and 50 for policies with a 30-year term.

Death benefits range from $100,000 to $2 million.


An insurtech company, iLife Technologies Inc., has raised $4 million from investors and is ramping up marketing of a digital life insurance system.

Life insurance agents can use the system to quickly set up and run life insurance agency sales websites. The system can help an agency cut the time needed to get a quote to a few seconds, from an average of more than five working days using conventional methods, according to iLife.

The company is offering a free version of the service, a version aimed at big agencies and a mid-level version that costs about $100 per month.

Independent Financial Partners has agreed to help Everyday Life — an insurtech company backed by American Enterprise Group — market its digital life insurance agency system  to small and midsize banks.

Banks can use the system to set up and run life insurance sales sites.


Verisk introduced the EHR Triage Engine Plus electronic health record (EHR) analysis system. The new system is an update of an EHR analysis system the company released about a year ago.

Verisk developed the original system and the update with help from Scor, a reinsurer.

The system can support human underwriters by digesting a long medical record file into a 2-page summary, with a suggested underwriting classification.



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