American National Introduces Benefit Riders
GALVESTON, Texas, June 10, 2014 (GLOBE NEWSWIRE) -- American National Insurance Company, one of the leaders in Life Insurance Living Benefits announces enhanced Living Benefits for life insurance policyholders through the expansion of their Accelerated Benefit Riders (ABRs). The enriched ABRs will now give the policyholder the added option to accelerate a portion of their death benefit in the case of a qualifying event while keeping the policy in force.
American National Insurance Company announced it unveiled, on June 7, 2014, NEW Partial Accelerated Benefit Riders for Critical, Chronic and Terminal Illness to go with its Full Accelerated Benefit Riders providing more Living Benefit options for customers.
These living benefits, offered at no additional premium, cover 16 critical illnesses, chronic and terminal illness in the form of Accelerated Benefit Riders. In the event of a qualifying illness, the policy owner may choose between partial or full death benefit acceleration. When the death benefit is accelerated, it is reduced by an actuarial discount based on the insured's future expected mortality in addition to an administrative fee (up to $500). These benefits will be offered on the ANICO Indexed Universal Life, Executive Universal Life, Executive Universal Life Simplified Issue, Affinity Whole Life and ANICO Signature Term(TM) Life.
David A. Behrens, Executive Vice President of American National Insurance Company stated, "American National's expanded Partial and Full Accelerated Benefit Riders for Critical, Chronic and Terminal Illness provides more options for customers at a time of need while still offering protection for their family's future."
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