New plans, new policies

Article Abstract:

A roundup of the new services that various insurance companies are offering is presented. A description of selected innovations follows. ITT Hartford Insurance Group has added Living Benefits Options to its group term life policies. This option means that terminally ill persons can receive before-death benefits. Travelers Corp and Chubb Life Insurance Company of America offer similar new services. Transamerica Life Insurance and Annuity Co. offers annuity policyholders an automatic payment option.

Life insurance industry, Travelers Corp., Paul Revere Life Insurance Co., UNUM Life Insurance Company of America, North American Company for Life and Health Insurance, Zurich American Life Insurance Co., Transamerica Life Insurance and Annuity Co., CNA Insurance Cos., New England, The, Allied Life Insurance Co., Sammons Enterprises Inc. (Sioux Falls, South Dakota), Life and Health Insurance Company of America, Chubb Life Insurance Company of America

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ITT Hartford

Article Abstract:

ITT Hartford Insurance Group is offering a new disability insurance plan for association members which combines features of both individual and group insurance. The policy is currently approved in 33 states. Three benefit periods are offered: two years, five years and to age 65. Approximately 50-60% of the insured's salary is covered with the monthly maximum benefit payment totalling $5,000.

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Mutual of New York

Article Abstract:

Mutual Life Insurance Company of New York is offering a new program of supplemental disability income coverage for small businesses. The Pathfinder Series includes the overhead Expense plan, Disability Buy-Sell plan and a wage continuation plan. The system permits the employer to deduct employee compensation as a business expense.

Mutual Life Insurance Company of New York

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