US-based Protective Life Insurance Company has rolled out an assortment of guaranteed universal life insurance products, in a bid to offer simple and affordable life insurance policies to its customers.
The product suite includes Custom Choice Universal Life, Advantage Choice Universal Life and Survivor Universal Life, and Custom Choice Universal Life, which can be customized according to individual needs.
Offering tailored protection, such as multiple level benefit coverage durations, these policies have the ability to exchange product types without any additional medical examinations.
Protective Life CEO Carolyn Johnson said the flexible suite of products has been designed to provide customers with access to important financial products, focusing to protect their future.
"The new guaranteed universal life lineup provides products that are accessible, affordable and customizable to customer’s unique needs," Johnson added.
Custom Choice Universal Life provides affordable coverage over lifetime or shorter durations, without cash accumulation, while Choice Universal Life has been designed to build cash value, offer flexible terms and is competitive for single-pay and 1035 exchange cases.
Survivor Universal Life offers options to protect a second insured individual, according to the underwriter.