BINGHAMTON, N.Y., June 30, 2015 /PRNewswire/ -- Security Mutual Life Insurance Company of New York has announced a new rider, available on its whole life line, that will allow a policyowner significant flexibility in funding the paid-up additions element of his or her policy. This added flexibility will appeal to individuals whose incomes fluctuate, such as business owners, self-employed professionals, employees whose compensation comes in the form of bonuses and real estate, and stock market investors.
"The new rider will make Security Mutual's whole life line even more attractive to those life insurance planners who embrace the MoneyTrax, Infinite Banking® or Becoming Your Own Banker® concepts," observed George Kozol, one of Security Mutual's marketing executives.
Kozol went on to note that whole life sales are up at Security Mutual, in part because more Americans are looking for an asset, such as a whole life/paid-up addition combinations, that generates guaranteed cash value, which is immune to stock market risk, and which is accessible to the policyowner. He also noted that the uptick in sales of whole life/paid-up combinations can be attributed to Security Mutual's favorable reputation among life insurance planners who work with MoneyTrax or with the Infinite Banking® or Becoming Your Own Banker® concepts.
Security Mutual Life Insurance Company of New York is independent of and is not affiliated with, sponsored by or endorsed by MoneyTrax, Inc.
The Infinite Banking® and Becoming Your Own Banker® Concepts are registered trademarks of Infinite Banking Concepts, LLC. Security Mutual Life Insurance Company of New York is independent of and is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC.
This release describes in general terms the features of the Combo Rider (policy form series IO-9359-TPC), designed for use with Security Designer WL4U™ whole life insurance policies (policy form series 2112). This is not a policy. In the event of a conflict between the terms outlined within and the policy, the terms of the policy will control. Product, features and benefits may not be available in all jurisdictions.
Guarantees are based on the claims-paying ability of the issuer.
About Security Mutual Life Insurance Company of New York: Now more than 128 years old, Security Mutual Life continues to fulfill the mission upon which it was founded in 1886: to provide sound, equitable and competitively priced insurance products to help protect people against the financial hazards resulting from death, disability, or retirement. As a mutual insurer, the company operates for the benefit and protection of its policyholders. Security Mutual is licensed in all 50 states, as well as in the District of Columbia and the U.S. Virgin Islands.
SOURCE Security Mutual Life Insurance Company of New York