View the latest press releases and important announcements from CNO.
Carmel, Ind., January 20, 2005 (Corrected January 25, 2005) — Conseco Insurance Company today announced the availability of two new universal life insurance products: AssetBuilder and AssetBuilder Plus. Both provide flexibility, cash accumulation and other desirable life insurance options.
AssetBuilder is a universal life policy that offers the opportunity for long-term cash buildup with a guaranteed 2% annual interest rate. Clients can customize their coverage levels by choosing from eight additional riders that provide coverage for children and/or spouses. A Death Benefit Guarantee rider is also available, offering clients a guaranteed death benefit up to age 85.
AssetBuilder Plus, an equity-indexed universal life policy, has the same benefits as AssetBuilder. In addition, clients can choose either of two distinct accumulation value options to build policy value, or they can combine both options.
The Portfolio Accumulation Value option (PAV) offers competitive current interest rates based on Conseco Insurance Company’s portfolio of fixed-income securities. The PAV has a guaranteed annual interest rate of 2% and also offers a nonguaranteed prospective interest rate bonus of 0.5%, beginning in the 16 th policy year.
The Equity-Indexed Accumulation Value (EIAV) is linked to the S&P 500 ® index. Clients who choose the EIAV option may receive bonuses based on the performance of the S&P 500, with no risk to principal. (The crediting method used for the EIAV option is based on monthly averaging.) A guaranteed annual interest rate of 2% safeguards policy value against negative fluctuations in the market, and a nonguaranteed participation rate bonus is offered in the 16 th policy year.
With both AssetBuilder products, partial withdrawals can be made once a year, and clients have the flexibility to change their policy as needed. Both products offer competitive target premium rates, which support the Death Benefit Guarantee rider in most cases.
“Conseco Insurance agents have an opportunity to establish themselves with new and existing clients through AssetBuilder and AssetBuilder Plus,” said Gail Van Dalen, Conseco’s senior vice president of marketing sales support. “These are straightforward universal life products that are easy to present to clients. And the combination of long-term cash accumulation and the available Death Benefit Guarantee rider makes them very competitive in today’s market.”
The Conseco insurance companies serve nearly 5 million customers across America. Conseco’s cancer, heart/stroke, accident and Medicare supplement policies protect people against major unplanned expenses; Conseco’s annuities and life insurance products help people plan for their financial futures.
AssetBuilder and AssetBuilder Plus life insurance products and their riders are subject to state availability.
Interest rates for the Portfolio Accumulation Value and Equity-Indexed Accumulation Value options may vary by state. Nonguaranteed rates may change without notice.
“S&P 500” is a trademark of The McGraw-Hill Companies, Inc., and has been licensed for use by Conseco Services, L.L.C. AssetBuilder Plus is not sponsored, endorsed, sold or promoted by Standard & Poor’s ® and Standard & Poor’s makes no representation regarding the advisability of purchasing this product.
- # # # # -