Insurance Companies Sharpen Survivorship Portfolios.Several insurers have improved or added to their survivorship survivorship n. the right to receive full title or ownership due to having survived another person. Survivorship is particularly applied to persons owning real property or other assets, such as bank accounts or stocks, in "joint tenancy. life insurance products to adjust to the changes in estate-tax laws. John Hancock Life Insurance Co. unveiled a product in September, Variable Estate Protection Edge, its second new product since estate-tax reform. The Edge product is intended to maximize cash accumulation through large premiums. Variable Estate Protection Plus, introduced earlier, may be more effective when business clients want high early-year cash values to minimize the charge to earnings or address other accounting matters, the company said. The Phoenix Cos., Hartford, Conn., introduced Estate Legacy II, a survivorship universal life product, and Estate Edge, a survivorship variable universal life product. The latter guarantees the option of converting to a fixed universal life policy after the 15th policy year, and it offers adjusted cost-of-insurance rates that are lower in later years than in the previous VUL VUL Variable Universal Life VUL Vulnerability (unit) VUL Vulgar product. It also offers higher commission target premiums for producers. New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Insurance Co. launched its Pinnacle Series for the estate- and business-succession planning market. The series includes two VUL products and a survivorship VUL. Among riders is one that provides a term insurance death benefit that allows policyholders to adjust the amount of coverage they need for each year. The rider can thus be used to change coverage as needed as needed prn. See prn order. after 2010, when estate taxes are scheduled to return to levels before this summer. The rider can also be used to customize coverage to fit employer-sponsored plans employer-sponsored plan, n a program supported totally or in part by an employer or group of employers to provide dental benefits for employees. The plan may be administered directly by the employer or another person or group under a contractual , the company said. Boston-based Manulife Financial Manulife Financial (NYSE: MFC, TSX: MFC, SEHK: 945, PSE: MFC), also known as The Manufacturers Life Insurance Company, is a major Canadian insurance company and financial services provider. has introduced two life products, Venture Variable Universal Life Protector and Venture Survivorship Variable Universal Life. Both products offer access to 60 investment options and a 20-year no-lapse guarantee, provided certain minimum premiums are paid. |
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