BANKERS LIFE AND CASUALTY COMPANY BOOSTS LIFE INSURANCE PORTFOLIO WITH NEW AND ENHANCED PRODUCTS
Sunday, January 4, 2009
Chicago, IL (April 1, 2009) - National life and health insurer Bankers Life and Casualty Company today launched its new fixed interest universal life product, the TurningPoint FIUL, and an enhanced version of its indexed universal life product, the ClearVantage IUL.
"In today's economy, consumers need more secure ways to achieve their goals," said Scott Perry, President of Bankers Life and Casualty Company. "The changes that we have made to our life portfolio are designed to not only make our products more competitive, but to offer more options for reliable returns."
"Bankers new TurningPoint FIUL is permanent life insurance that builds cash value over the client's lifetime. Since gains are not tied to the volatility of the stock market, this product can deliver more stable returns. In addition, the product offers flexible premiums that can be adjusted to meet the needs of their budget."
The TurningPoint FIUL offers several new features and benefits including an interest bonus in policy years 16+, an increased death benefit guarantee period, and a new Preferred Plus Non-Tobacco rating class.
The company's ClearVantage IUL has been enhanced with the addition of a capped point-to-point index crediting option. The option is offered in addition to the 12-month averaging with participation rate and the fixed interest rate options already in place. The new crediting option can potentially afford clients greater participation in any growth in the S&P 500® Index and may generate higher returns in a volatile stock market than crediting options with a participation rate or a fixed interest rate.
The new TurningPoint FIUL is currently available through Bankers career sales agents in Arizona, Colorado, Connecticut, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Missouri, Nebraska, Nevada, New Hampshire, North Carolina, Ohio, South Carolina, Tennessee, Virginia, Washington and Wisconsin. The product will be released in additional states through the end of May.
The ClearVantage enhancement is currently available in all states except Massachusetts and Pennsylvania, where the new product version is planned for release in the future.
About Bankers Life and Casualty Company
Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on the insurance needs of the retirement market. The nationwide company, a subsidiary of CNO Financial Group, Inc., offers a broad portfolio of life and health insurance retirement products designed especially for seniors. Visit us online at www.bankers.com.
"S&P®," "S&P 500®," "Standard & Poor's® , " and "500" are trademarks of the McGraw-Hill Companies, Inc. and have been licensed for use by Bankers Life and Casualty Company. The annuities referenced herein are not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisibilty of purchasing these products.