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CHICAGO, Oct. 1, 2013 /PRNewswire/ -- Bankers Life and Casualty Company has launched Life StartSM, a juvenile whole life insurance product designed to help meet the needs of parents and grandparents that want to leave a lasting financial legacy for the children in their life.
"Everyone wants what's best for their children and grandchildren," said Scott Goldberg, president of Bankers Life. "Juvenile life insurance helps to provide one of the strong financial building blocks for a child by providing guaranteed protection, regardless of their future health, and affordable premiums for the life of the policy."
Life Start offers long-term, secure coverage, protection against future uninsurability, locked premium rates, accessible cash value and tax benefits. Face amounts range from $10,000 up to $50,000, with issue ages for children 0-16. Premium rates – guaranteed for the life of the policy, or in five, 10 or 20 year payments – start as low as $12/month.
Optional riders available on the policy include a Guaranteed Insurability Benefit, providing the right to purchase new permanent life policies at specific option dates without furnishing evidence of insurability; and a Payor Benefit Rider, providing for waiver of premium on juvenile policies due to death or disability.
A complement to Bankers' portfolio of term, whole and universal life products, Life Start is currently available in 42 states and DC and will expand to all 50 states by early 2014. In New York state, Life Start will be available through Bankers Conseco Life Insurance Company.
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. (NYSE: CNO), offers a broad portfolio of health and life insurance and annuities designed especially for retirees. To learn more, visit Bankers.com.
SOURCE: Bankers Life and Casualty Company
CONTACT: (News Media) Barbara Ciesemier 1.312.396.7461