American National Insurance Company has r a new product, Signature Indexed Universal Life Insurance (IUL) policy, available July 1, 2014.
This innovative life product provides Death Benefit protection and three Indexed Crediting Strategies along with a fixed account strategy for clients to choose from.
Signature IUL can provide the opportunity to earn interest based upon the performance of the S&P 500(R) Index without the client being directly invested in the Index.
Therefore, the accumulation value will never decrease based on the fluctuations of the S&P 500(R) Index as all three of the indexed interest crediting strategies have a built-in floor. One of the Indexed Strategies currently has a declared floor of 1.5% so that strategy can earn interest even in the event of a decrease in the market*.
Signature IUL will provide clients the permanent protection their families need with the opportunity to increase accumulation value for future emergencies, college education or supplemental retirement income. The Signature IUL has multiple uses while providing family protection.
This product also includes, at no additional premium, three Living Benefits covering 16 critical illnesses as well as chronic and terminal illness in the form of Accelerated Benefit Riders. In the event of a qualifying illness, the policy owner may choose between partial or full death benefit acceleration. In order to accelerate the death benefit, the benefit is reduced by an actuarial discount in addition to a small administrative fee (up to $500).
David A. Behrens, Executive Vice President of American National Insurance Company stated, "American National’s new Signature IUL builds upon the tested concepts of our previous indexed products to create a competitive second generation IUL with more options for clients and partial living benefit accelerations. Signature IUL allows a client to have control over the placement of their premium in the various indexed strategies or a fixed account while guaranteeing their family’s future will be protected."