OneAmerica launches variable universal life insurance
The companies of OneAmerica announce the expansion of their product portfolio to offer OneAmerica® Variable Universal Life (VUL) insurance.
Distributed through the Individual Life and Financial Services (ILFS) line of business, this new product provides customers with a strong vehicle for protection, while also offering them the opportunity to invest in the financial markets. VUL customers have the flexibility to use the policy for life insurance protection, cash value accumulation or other financial needs.
"We're excited to bring our unique VUL product to today's marketplace," said Dennis Martin, president of ILFS.
"We're excited to bring our unique VUL product to today's marketplace," said Dennis Martin, president of ILFS. "The product's guarantees and transparency make it an attractive, new option for people to help protect their loved ones and create an opportunity for potential financial growth."
The OneAmerica VUL life insurance policy includes a guaranteed death benefit provision and fully guaranteed policy charges, which are first-of-its-kind in the VUL space. These guarantees offer customers confidence that their policy charge structure won't change in the future. They also add an additional layer of protection against policy lapse and loss of the death benefit.
In addition, the OneAmerica VUL offers two investment-related differentiators to the marketplace. The product offers a low-cost, transparent fund lineup of well-known industry asset managers, and it includes two defined outcome funds — again, a first in the industry for a VUL product. The investment lineup offers customers more than 50 diverse investment options, customizable to their portfolios and goals. These innovations reflect the client-centered approach that OneAmerica brings to the marketplace.
"VUL will give our distribution channels a strong product to match the needs of new and existing customers," said Mark Scalercio, senior vice president and head of distribution for ILFS. "Ultimately, our VUL is a robust product built on our strong foundation and commitment to deliver on our promises when customers need us most."
The new product also includes extra protection and added benefits through optional riders.
OneAmerica VUL is currently available through the OneAmerica career agency distribution channel in all states except California, Florida, New York, North Dakota and South Dakota.
Products issued and underwritten by American United Life Insurance Company® (AUL), Indianapolis, IN, a OneAmerica company and registered variable products distributed by OneAmerica Securities, Inc., a Registered Investment Advisor, Member FINRA, SIPC. Form number ICC21 VUL21. Not available in all states or may vary by state. • All guarantees are subject to the claims-paying ability of AUL. • Variable investment options are subject to market risk which includes the potential loss of principal.