Vantis Life Insurance has launched EstateWise Platinum, an upgrade to its single premium whole life insurance (SPWL) product.

EstateWise Platinum serves as a tax-efficient inheritance tool for customers and agents of financial institutions.

Platinum boasts multiple new features at no additional cost, including a return of premium rider, guaranteeing the policy’s cash surrender value will never be less than the premium payment; accelerated benefit riders for chronic illness, critical illness, and terminal illness; and a charitable giving rider, a unique feature that provides an additional death benefit of 1 percent of the policy face amount to the applicant’s charity of choice.

“With EstateWise Platinum, agents, banks and financial advisors can offer a dynamic life insurance product that doubles as an estate planning tool,” said Craig Simms, Senior Vice President and Chief Marketing Officer at Vantis Life.

“Real-time underwriting technology allows us to offer a fast decision and a superior death benefit for healthier, older applicants. Single premium whole life insurance is a strategic and under-utilized way for consumers to efficiently bequeath assets to loved ones.”

EstateWise Platinum utilizes QuickCheck, a real-time underwriting process designed to quickly issue policies to applicants with favorable health histories between the ages of 50 and 80 by harnessing medical information from pharmaceutical databases.

Originally introduced in 2004, Vantis Life’s EstateWise has helped customers securely bequeath assets to their heirs. Vantis Life offers a variety of life insurance and fixed annuity products to middle market and emerging affluent customers via banks and credit unions.