Ethos Expands Juvenile Life Insurance Product to Enhance Accessibility
Ethos, in collaboration with the North American Company for Life and Health Insurance, has expanded its Accumulation Indexed Universal Life (IUL) product to include standalone coverage for juveniles. This innovative product targets children from infancy through age 17, allowing parents to apply online via Ethos' platform without requiring medical examinations. The process relies on lifestyle and health queries to streamline underwriting.
The juvenile-focused Accumulation IUL offers permanent life insurance protection combined with the potential for tax-advantaged cash value growth. It includes nine index choices and flexible cash value access, with coverage limits up to $500,000 per child. Once the child reaches 18, ownership can transition from the parent to the insured individual, promoting long-term financial security and planning.
The partnership between Ethos and North American aims to enhance accessibility to life insurance. Ethos' Senior Vice President, Chris Fioritto, emphasized the simplicity and security the product provides to families. Jerry Blair, President of North American’s Life Division, stated that the initiative aligns with their commitment to expanding financial protection options through innovative technologies. This marks the first time Ethos has extended its underwriting capabilities to embrace juvenile coverage, using North American’s robust IUL framework.
Offering families an opportunity to secure early financial stability, the Accumulation IUL includes benefits such as assistance with educational expenses and first-home purchases. Ethos continues to redefine the life insurance landscape, providing accessible and effective solutions to meet diverse consumer needs, including juvenile policies. North American, part of Sammons Financial Group, maintains a strong market position with a wide range of life insurance and annuity products.
For more details on policies and product availability, which may vary by state, interested parties are encouraged to visit the respective company websites for comprehensive information.