LINCOLN, Nebraska, (November 18, 2019) – Ameritas Life Insurance Corp. will now offer a new whole life insurance product, Ameritas Access Whole Life (Access WL). This product will replace Keystone Foundation Whole Life, an industry leader for short-term cash value that does not currently use the 2017 mortality tables.
The product will be available Dec. 9.
Access WL offers higher guaranteed cash values early in the policy and strong current cash values over the long term. It will be the first whole life insurance product by Ameritas to offer a non-direct variable loan option; dividends paid are not impacted by the presence of a variable loan.
Other key features include:
- More flexible funding range — maximum funding up to 200% of the scheduled Flexible Paid-Up Rider premium without additional underwriting.
- Higher premium limits on the Flexible Paid-Up Rider.
- Policies are paid up by the later of age 75 or 25 years.
The product also includes other features for more comprehensive coverage for the customer. The Level Term Rider is available for 10-, 15-, 20- and 30-year periods and provides clients more flexibility when using the Flexible Paid-Up Rider to build cash value. In addition, the product includes the Care4Life Accelerated Death Benefit Rider, which allows a policyholder diagnosed with a serious illness to receive a portion of their death benefit while they’re living and still provide a death benefit for loved ones.
“Access Whole Life can be consistently competitive and will be our strongest guaranteed cash value product offered by Ameritas,” said Kelly Halverson, Ameritas vice president – individual life product development. “We have listened to our clients and agents to come up with a product that offers flexibility with a focus on early cash value accumulation. We are excited to see how this product can serve our customers.”