CINCINNATI, Feb. 28, 2024 /PRNewswire/ – AuguStarSM Life, a subsidiary of Constellation, has announced the release of its 20-payment Prestige Indexed Whole Life insurance, expanding its range of indexed life insurance offerings. This new addition to the Prestige series complements the 10-payment version introduced in 2022, providing clients with increased flexibility and growth opportunities while minimizing exposure to market risks.
Karl Kreunen, Vice President and Chief Distribution Officer at AuguStar Life, highlights the advantages of the 20-payment Prestige IWL, stating, “This new product broadens our IWL portfolio by introducing a lower premium alternative, enhancing accessibility for consumers. The product lineup combines the guarantees of whole life insurance with the growth potential of indexed life insurance, offering a compelling proposition that is unique to AuguStar Life.”
AuguStar Life is dedicated to expanding its life insurance business and capitalizing on its success in indexed life insurance products. The 20-payment option of Prestige Indexed Whole Life caters to both individual and business clients, providing flexibility within diverse financial strategies.
Prestige Indexed Whole Life insurance offers clients the essential protection of a guaranteed death benefit typical of whole life insurance, while also enabling them to leverage market-based growth opportunities to accumulate cash value for future needs. These products strike a balance between a straightforward, adaptable structure and robust assurances, making them suitable for various financial planning needs.
Business proprietors can utilize Prestige Indexed Whole Life insurance for their financial planning requirements, such as facilitating a buy-sell agreement or establishing a flexible source of protection and capital for their enterprise. Moreover, it can be utilized to entice, retain, and reward talent through strategies like split-dollar arrangements, executive bonus plans, or supplemental executive retirement plans (SERPs).
AuguStar Life’s dedication to growth and innovation in the life insurance sector is further underscored by the introduction of the 20-payment Prestige Indexed Whole Life insurance. With its appealing features and versatility, this product is positioned to address the changing needs of clients and reinforce AuguStar Life’s standing as a market leader.
About AuguStarSM Life
AuguStarSM Life offers indexed universal life, indexed whole life, term, and bank-owned life insurance through a nationwide network of traditional direct agents and independent marketing organizations. AuguStar Life is part of the Constellation Insurance family of companies. As of December 31, 2022, Constellation’s insurance companies collectively manage over \(34 billion in assets. Constellation’s investors, CDPQ and Ontario Teachers’, are prominent long-term institutional investors in North America, overseeing more than C\)649 billion in net assets, including over C$139 billion in private capital investments. More information is available at [website link].
Please note that minimum premiums must be maintained to retain the guaranteed death benefit. Withdrawals may impact the death benefit, cash surrender value, and any living benefit amount. AuguStarSM Life Assurance Corporation issues indexed whole life insurance. Guarantees are subject to the issuer’s claims-paying ability. Product features and availability of riders may vary by state. The issuer is not authorized to transact business in NY.
Contact: Lisa Doxsee
513.794.6418 (office) | 513.218.5519 (mobile)
SOURCE: AuguStar Life