Allows policyowners significant flexibility in funding paid-up additions
BINGHAMTON, N.Y., July 1, 2015 /PRNewswire/ — Security Mutual Life Insurance Company of New York has announced a new rider, available on its whole life line, that will allow a policyowner significant flexibility in funding the paid-up additions element of his or her policy.
This added flexibility will appeal to individuals whose incomes fluctuate, such as business owners, self-employed professionals, employees whose compensation comes in the form of bonuses and real estate, and stock market investors.
"The new rider will make Security Mutual's whole life line even more attractive to those life insurance planners who embrace the MoneyTrax, Infinite Banking® or Becoming Your Own Banker® concepts," observed George Kozol, one of Security Mutual's marketing executives.
Kozol went on to note that whole life sales are up at Security Mutual, in part because more Americans are looking for an asset, such as a whole life/paid-up addition combinations, that generates guaranteed cash value, which is immune to stock market risk, and which is accessible to the policyowner.
He also noted that the uptick in sales of whole life/paid-up combinations can be attributed to Security Mutual's favorable reputation among life insurance planners who work with MoneyTrax or with the Infinite Banking® or Becoming Your Own Banker® concepts.
Security Mutual Life Insurance Company of New York is independent of and is not affiliated with, sponsored by or endorsed by MoneyTrax, Inc. The Infinite Banking® and Becoming Your Own Banker® Concepts are registered trademarks of Infinite Banking Concepts, LLC.