Term Life for MoneyTrax®, Infinite Banking®, and Bank-on-Yourself® Advisors

NEW YORK, July 14, 2011 /PRNewswire/ -- Security Mutual has introduced a new term insurance product that offers novel conversion features.  The new product will especially appeal to life insurance advisors who first recommend permanent coverage, but who recognize that some insurance needs can best be met with term life.  This enhanced conversion feature is in addition to the basic conversion right that comes with Security's level term products.

The new conversion feature allows the policyowner to convert up to 50% of his or her term coverage during each of three time periods.  The first period ends on the second policy anniversary.  The second period ends on the fourth anniversary and the third period ends on the sixth anniversary.  A policyowner, who elects to convert the maximum amount of coverage, using the enhanced conversion option and the basic conversion option, would end up with a permanent life insurance face amount of 250% of the term face amount.  The four conversions can be accomplished expeditiously and without evidence of insurability.

George Kozol, Security Mutual, senior vice president for advanced markets, commented that the new product should become the term product of choice for life insurance advisors who subscribe to Don Blanton's MoneyTrax program, Nelson Nash's Infinite Banking Concept and Pamela Yellen's Bank-on-Yourself idea.  In this regard, Kozol pointed out that Security Mutual permits conversion to its whole life products, which work so well with the Infinite Banking and Bank-on-Yourself concepts.

SOURCE Security Mutual Life Insurance Company of New York

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