Trustmark Life Insurance Company of New York has launched a series of worksite Universal Life insurance products, including Universal LifeEvents and Guaranteed Universal Life in New York.
The company said that the Universal Life series provides living benefits for long term care. Trustmark’s Guaranteed UL plan design combines universal life with lifetime guarantees of whole life. Universal LifeEvents pays a high death benefit during working years, when expenses are high. During retirement years, it will continue to provide high living benefits for long term care.
According to Trustmark, all the three life insurance plans offer living benefits to pay for long term care, a benefit which in in demand. The series is expected to be available for June 2010 enrollments.
Dave Cirulis, vice president of sales and marketing at Trustmark, said: “Having our Universal Life Insurance series available to employees in New York means our flagship product is now sold and supported in all 50 states. Offering life insurance in the great State of New York will impact our voluntary benefit sales nationwide.”
Janet Buzil, second vice president of marketing and product management at Trustmark, said: “Trustmark’s Universal LifeEvents is groundbreaking. The plan offers a 35-year-old a nearly 50% higher death benefit during the working years than traditional universal life. Long Term Care benefits continue through retirement to address that unmet need.”