CNA Life Enters Mortgage Term Market - Brings Service and Leadership to New Market Segment Provides Funds to Pay Mortgage If You Die; Returns Paid Premiums If You Live.Business Editors NASHVILLE, Tenn.--(BUSINESS WIRE)--April 2, 2002 CNA (Certified NetWare Administrator) See Novell certification. Life -- a business unit of CNA Financial CNA Financial Corporation (NYSE: CNA) is a financial corporation based in Chicago, Illinois, United States, and noted for its 600 foot tall red headquarters building there. Its principal subsidiary, Continental Casualty Company (CCC) was founded in 1897. Corporation (NYSE NYSE See: New York Stock Exchange :CNA) -- introduced today its CNA Maximizer(SM), a new term life insurance product that can help policyowners protect their families by providing the funds to pay off their mortgage should they die, refunding premiums paid if they live or providing income to pay the mortgage if they become disabled. "This is clearly one of the best policies that is tailored to a specific insurance need," said Tony Wilkey, senior marketing officer of CNA Life/LTC. "It's designed with a specific purpose in mind - to ensure that should the breadwinner bread·win·ner n. One whose earnings are the primary source of support for one's dependents. bread·win  ning n. die, his or her
family is able to stay in their home. The added benefit of the CNA
Maximizer is that with the Return of Premium Rider, if you don't
end up using the coverage and you pay off your home, you will get back
the premiums you paid."
The policy also offers an optional Disability Income Rider that will provide a monthly cash benefit for up to two years in the event the policyowner becomes disabled. Another option, the Accidental Death Benefit A provision of a life insurance policy stating that if the insured—the person whose life has been insured—dies in an accident, the beneficiary of the policy—the person to whom its proceeds are payable—will receive twice the face value of the policy. Rider, can pay up to double the base policy amount or $250,000 (whichever is less) if the policyowner dies from injuries sustained in an accident. "The CNA Maximizer gives the policyowner control," said Wilkey. "In addition to the two coverage lengths, 15 and 30 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time policy is portable - so policyowners don't lose premiums if they move in eight or ten years, which is the average length of time most people stay in a home. We've done a significant amount of work to understand exactly what consumers and distributors need in this type of product, and are delighted to have come up with a win-win solution for all parties." "We're expanding our product portfolio to provide protection for our customers during key stages of their lives. We've also focused these products to grow with our customers as they experience lifestyle changes because we want CNA Life/LTC to work for them today and tomorrow," said Susan McGory, COO CNA Life and Long-Term Care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. . CNA is a leading insurance organization offering a broad range of insurance products and insurance-related services in the property and casualty, life, group and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. markets. For more information, contact CNA at 800/262-7431. CNA Maximizer(SM) is underwritten by Valley Forge Life Insurance Company, one of the CNA insurance companies. CNA and CNA Life are registered service marks, trade names and domain names of CNA Financial Corporation. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion