American General Life Cos. (American General) launched a new universal life insurance product, ContinUL, issued by American General Life Insurance Co. and The United States Life Insurance Co. in the City of New York.
According to American General, ContinUL universal life insurance offers affordable death benefit coverage with secondary guarantees and flexible features that allow for customization. ContinUL offers competitive new pricing and enables policy holders to select the amount of coverage needed, the duration of the policy's death benefit coverage guarantee, and the length of time to pay premiums based on individual needs.
"This product represents American General's return to the low-cost guaranteed universal life market," says David O'Leary, executive vice president and chief operating officer. "Customers will have the comfort of knowing the specific premium needed to guarantee the death benefit, eliminating concerns about changes in interest rates or other factors impacting the policy's cash value."
