SOURCE: Trans World Assurance

Trans World Assurance

March 31, 2011 11:15 ET

Future First Universal Life by Trans World Assurance Emerges as a Clear Leader in the Military Market

SAN MATEO, CA--(Marketwire - March 31, 2011) - Since its introduction in 2009 by Trans World Assurance, the Future First Universal Life Insurance policy has seized an overwhelming amount of the company's new business with a majority of that business coming from Military members. Agents of Trans World Assurance, many of whom are Military veterans, recognize the popularity of the Future First product and have also expressed their preference for it.

"The response that I've received from Military members in regards to Future First is exciting," said Peter Gilbertson, a long-time agent of Trans World Assurance. "As an Air Force veteran, I understand why they like this product so much. It was designed for them and addresses their needs as members of the Military."

When designing the Future First policy, Trans World Assurance consulted with a panel of agents, who were former military members, to determine how to best meet the specific needs of this highly complex and specialized market. The initial Future First Universal Life Insurance policy they created contained the following features:

  • No "war clause"
  • Portability allowing both career and short-term enlisted service members to take the policy with them wherever they go
  • Cash accumulation within the policy that grows tax deferred
  • Current rate of return that is very competitive along with a guaranteed minimum rate of return of 3%
  • Tax free access to cash values through policy loans
  • Income tax free death benefits for beneficiaries

Recognizing the quickly growing popularity of the product, executives at Trans World Assurance decided to further enhance the Future First policy making it even more appealing to the Military life insurance market. They've added the following features to the initial product:

  • Bonus interest rate of 6.5% for all policies reaching $100,000 in cash value
  • Charitable Benefit Rider provides an additional 1% death benefit above the base policy face amount without adding any additional cost to the policy. This allows Military members to support charities that they deem important, such as the USO or the Wounded Warrior Project.
  • Accelerated Benefit Rider provides enhanced security and access to funds if the insured becomes seriously ill.

"As a founding member and continuing underwriter of Serviceman's Group Life Insurance (SGLI), we realize that all servicemen already have some level of SGLI," stated a Trans World Assurance Executive. "But establishing an additional permanent plan while they are in the military helps provide a solid foundation as they transition to civilian life. We are excited about this product and the important need it fills for the families of those that serve our country."

For more information, visit the TransWorld Assurance website.

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