Financial Services Industry
Industry: Email Alert RSS Feed1st-to-die UL rider can cover many. (Fidelity Union Life, universal life insurance) (Product/News Marketing)
National Underwriter Life & Health-Financial Services Edition, June, 1991 by Koco, Linda
1st-To-Die UL Rider Can Cover Many
Fidelity Union Life, Dallas, has designed a first-to-die universal life policy rider that can be used for two or more lives.
Called Multi-Life, the rider targets buy-sell and key executive markets as well as family and couple markets.
As the generic product category suggests, this policy pays death benefits upon the first death. But, the option exists for survivors to the insurance after the first death.
The simplest arrangement, says Keith Standt, vice president-marketing services, is when two people -- a married couple, for instance--purchase the base UL policy and the Multi-Life rider, with each spouse naming the other as beneficiary. The spouse carrying the base policy has one death benefit, while...
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