AuguStar Life Launches 20-Pay Option with Innovative Indexed Whole Life Product
February 28, 2024
AuguStarSM Life, a Constellation company, today announces the launch of its 20-pay Prestige Indexed Whole Life insurance, further expanding its indexed life insurance portfolio. This new addition to the Prestige lineup complements the 10-pay version introduced in 2022, providing clients with enhanced flexibility and growth potential while minimizing market risks.
Karl Kreunen, AuguStar Life vice president and chief distribution officer, emphasizes the benefits of the 20-pay Prestige IWL, stating, "This new product expands our IWL line by adding a lower premium option, making it more accessible to consumers. This product lineup provides guarantees that you find in whole life with the performance potential of indexed life insurance. It’s a powerful combination, and you can only find multi-pay IWL at AuguStar Life."
AuguStar Life remains committed to expanding its life insurance business and leveraging its success with indexed life insurance products. The Prestige IWL 20-pay option caters to both individual and business clients, offering flexibility within various financial plans.
Prestige Indexed Whole Life insurance provides the essential, guaranteed death benefit protection of whole life insurance to clients while letting them tap into market-based growth potential to build cash value that can support future needs. These products strike a balance between a simple, flexible design and robust guarantees, making them suitable for a wide range of planning requirements.
Business owners can use Prestige Indexed Whole Life insurance for their own financial planning needs, such as funding a buy-sell agreement or securing a flexible source of protection and capital for their business. Additionally, it can be employed to attract, retain and reward talent through strategies like split-dollar arrangements, executive bonus plans or supplemental executive retirement plans (SERPs).
AuguStar Life's commitment to growth and innovation in the life insurance industry is further exemplified by the launch of the 20-pay Prestige Indexed Whole Life insurance. With its attractive features and flexibility, this product is poised to meet the evolving needs of clients and solidify AuguStar Life's position as a leader in the market.
About AuguStarSM Life
AuguStarSM Life markets indexed universal life, indexed whole life, term, and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStarSM Life is a member of the Constellation Insurance family of companies. As of December 31, 2022, Constellation’s family of insurance companies has over $34 billion in total assets under management. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of North America's largest long-term institutional investors, managing over C$649 billion in net assets, including over C$139 billion in private capital investments. More information is available at augustarfinancial.com.
Minimum premiums must be met for the guaranteed death benefit to remain in place. Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.
Indexed whole life insurance is issued by AuguStarSM Life Assurance Corporation. Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.
Guarantees based on the claims-paying ability of the issuer.
Media Contacts
Lisa Doxsee, APR
513.218.5519
Lisa_Doxsee@augustarfinancial.com