MONY Expands Life Insurance Product Portfolio With Introduction of Interest Sensitive Whole Life.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 28, 2002 MONY MONY Mutual of New York (Insurance - Syracuse, NY) Is Now One of Select Group of Life Insurance Providers to Offer This Easy to Understand, Non-Equity-Based Insurance Option MONY Life Insurance Company of America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. (MONY), an insurance subsidiary of The MONY Group (NYSE NYSE See: New York Stock Exchange : MNY MNY Microsoft Money (file extension) MNY Manhattan New York ), today continued the diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. of its insurance portfolio through the introduction of an interest sensitive whole life (ISWL ISWL Interest Sensitive Whole Life ISWL International Short Wave League ) product. ISWL is a permanent insurance product that has various long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. guarantees, easily understandable features and product performance that is tied to a fixed rate. "ISWL combines the benefits of both whole life and universal life products. It is easy to understand, has strong guarantees as well as unique options such as the ability to access the excess cash value without impairing the death benefit and low-cost policy loans," said Evelyn Eve·lyn , John 1620-1706. English writer whose Diary, published in 1818, is a valuable historical record of his times. Peos, senior vice president, head of the Life Insurance Division for MONY Life Insurance Company. "We are now one of a select group of life insurance providers who offer this product. It is ideal for both individuals and businesses that want affordable life insurance protection with an emphasis on guarantees. It is also a good funding option for qualified retirement plans, specifically 412(i) plans." Specific product features include: - Easy to Understand. Consumers simply need to pay the guaranteed required scheduled level premium and MONY guarantees the face amount as well as cash or loan values. - Fixed, Competitive Interest Rate. ISWL provides no exposure to the equity markets and instead ties the performance of the product to a competitive, current interest rate. - Strong Guarantees. Lifetime protection is assured by payment of the required scheduled premium. The death benefit is also guaranteed and can never be reduced so long as there are no loans or withdrawals. In addition, after the first few policy years and through the rest of the insured's lifetime, the guaranteed cash value increases. - Cash Withdrawal Option Without Impairment to Death Benefit. Policyholders are able to withdraw the portion of the tax-deferred cash value that exceeds the guaranteed cash value without impairment to the death benefit. - Low-Cost Policy Loans. Policyholders have the option of borrowing against their policy at guaranteed annual loan interest rates. "The introduction of this product is yet another example of how we have streamlined our insurance operations to quickly respond to market conditions and consumer demands," added Ms. Peos. "We have significantly reduced the time-to-market of new products and are also providing our customers with products that help them achieve their financial goals and also manage risk - all within the context of this challenging economic and market climate." MONY Partners (800-240-6669) wholesales MONY's individual life insurance products, including the interest sensitive whole life product, through a number of channels including independent brokers and The MONY Group's retail distribution channels. The company's retail channels include MONY's career agency system of financial professionals, Advest financial advisors and Trusted Advisors representatives. The MONY Group Inc. (NYSE: MNY), with $60 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and administration, is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm that manages a portfolio of member companies. These companies include MONY Life Insurance Company, The Advest Group, Inc., Enterprise Capital Management, Matrix Capital Markets Group, Inc., Lebenthal, a division of Advest, Inc., and U.S. Financial Life Insurance Company. These companies manufacture and distribute protection, asset accumulation and retail brokerage products and services to individuals, corporations and institutions through advisory and wholesale distribution channels. Additional company information is available at www.mony.com. MONY Life Insurance Company of America is not licensed in 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 . |
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