Protector Universal Life-Guaranteed Product Offers Affordability and Flexibility
Knights of Columbus (K of C), a Best’s Review Top 50 US Life/Health Insurer, announced the launch of its Protector NLG Universal Life insurance product. This product provides affordable guaranteed lifetime coverage*, flexible premium payment options and a low-cost guaranteed death benefit* that will ensure future obligations are met. The benefit protection includes a Lapse Protection Rider, as well.
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While guaranteeing death benefit coverage*, the Protector NLG Universal Life insurance product features flexibility in premium payment ability: from allowing shorter payment periods; the stopping and re-starting of premium payments; to the ability to lower premiums by paying up to age 100. A Lapse Protection Rider is automatically attached at issue and can ensure lifetime death benefit protection as long as this rider is active.
Ron Franzluebbers, senior vice president and chief actuary of K of C, said, “Protector NLG Universal Life is a niche product designed for those approaching or above retirement age, who do not need a traditional whole life contract with cash value accumulation but want to ensure that they have affordable death benefit coverage for their entire lifetime.”
Knights of Columbus offers life insurance, retirement income products, long-term care insurance and disability income insurance. Knight of Columbus Asset Advisors (“KoCAA”) provides institutional asset management, donor-advised funds and an array of securities products and services, as well as retail mutual funds.
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