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Conseco Insurance Company introduces “Conseco Providence??
New whole life insurance product offers simple solution for clients’ final obligations and agent commissions for sales up to the age of 85.

Carmel, Ind. Nov. 16, 2006 - Conseco Insurance Company, a life and health insurance company, today introduced Conseco ProvidenceSM, the newest addition to its life insurance product portfolio. This whole life insurance product is designed for clients who want to ensure that funds are available to pay for their final expenses.

Conseco Providence offers benefit amounts from a minimum of $5,000 to a maximum of $30,000, with benefits paid directly to a named beneficiary. It is available for individuals between the ages of 50 and 85.

“When agents help Americans plan for their future health and financial security needs, they should not overlook the need to fund end-of-life expenses,?? said Pat Lewis, senior vice president and national sales director of life insurance products for the Conseco insurance companies. “Conseco Providence is an easy, straightforward product that can provide a substantial benefit for clients, while paying strong commissions to agents for clients up to age 85.??

Conseco Providence uses a simplified underwriting process based on responses to the application’s health questions and a short personal history telephone interview. No physical exam is required. Based on underwriting, Conseco Providence clients will qualify for level or graded final-expense benefits.

  • With a level final-expense benefit, the policy will pay the face amount, plus any rider benefits, at the time of death.

  • With a graded final-expense benefit, the policy will pay a reduced benefit, if death occurs within the first two policy years. After the first two policy years—or if death occurs by accident at any time—the policy will pay the face amount, plus any rider benefits, at the time of death. This benefit may be available for applicants who do not qualify for the level benefit.

    With Conseco Providence, policyholders enjoy guaranteed premiums that will never increase. The policy offers long-term, cash-value buildup and loan privileges up to the cash surrender value.

    An accelerated benefit rider is automatically included with Conseco Providence at no additional charge. This rider provides access to 75% of the policy’s face amount (minus any loan balance) for policyholders who are diagnosed with a terminal illness. An accidental death benefit rider is also available (for an additional charge), offering an additional death benefit<&mdash>up to the policy’s face amount<&mdash>if the insured dies as a direct result of an accidental bodily injury.

    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. Visit us at www.conseco.com.

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