Carmel, Ind., April 6, 2006 -- Conseco Insurance Company today introduced two new level-premium term life products: Conseco Term® and Conseco Mortgage Term. These new term life products offer security, affordability and options that enable agents to customize plans for client needs.
Conseco Term is designed to help clients meet personal and business obligations for a specific time period. The product offers a guaranteed level premium and death benefit for periods of 15, 20 or 30 years. After the guaranteed level premium period, Conseco Term is renewable to the age of 98 and can be converted until the age of 70. Conseco Term features five underwriting classes and seven available riders, including disability income, accelerated benefits and spouse/business partner coverage.
Conseco Mortgage Term is a term life product offered to protect a client’s most important asset: the home. Level premiums and death benefits are guaranteed for periods of 10, 15, 20 or 30 years, and the policy is renewable to the of 98. Conseco Mortgage Term offers simplified underwriting with unisex rates (nontobacco and tobacco). Clients can customize coverage with eight available riders.
Both Conseco Term and Conseco Mortgage Term are available with a return-of-premium feature for periods of 20 or 30 years. The return-of-premium feature provides a 100% return of eligible premiums paid (excluding rider premiums) at the end of the policy term. The Conseco insurance companies pioneered the return-of-premium concept and, since 1995, have returned more than $490 million of premiums to policyholders.
“Conseco’s portfolio of term life products represent a tremendous sales advantage for agents,?? said Tom Blackburn, senior vice president and national director of sales for Conseco’s life and annuity products. “Conseco Term and Conseco Mortgage Term offer affordable premiums and strong compensation for agents. And with return of premium and multiple rider options, these products are designed to be very competitive in today’s market.??
The Conseco insurance group, comprised of the insurance company subsidiaries of Conseco, Inc. (NYSE: CNO) based in Carmel, Indiana, serves over 2 million customers across America. The Conseco insurance companies offer supplemental health and life insurance products and annuities to working families and seniors.
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