Aviva USA
Aviva USA has introduced an indexed life insurance product that offers financial protection for small businesses, blended families, and people whose estate tax planning needs may change. Survivorship Builder combines protection for more than one person on a single policy.
Aviva’s new Survivorship Builder includes an optional first-to-die rider that pays a portion of the death benefit to the surviving insured after the first insured passes away.
The company anticipates that the product and first-to-die rider will appeal to small business owners or business partnerships that need succession after the death of the owner; blended families where the needs of both spouses, former spouses and children come into play; and people who are looking for versatile insurance products in light of the uncertainty around current estate tax law.
Indexed universal life insurance credits interest to the policy’s account value. Those credits are linked to the upward movement of a major stock index such as the S&P 500, subject to a limit such as a cap or participation rate. There is also a minimum guaranteed interest crediting rate should the index perform poorly during a particular period.
Survivorship Builder offers customers multiple solutions during various stages of their lives. Survivorship life insurance can help survivors handle a sudden tax burden, replace income, gift assets to grandchildren and keep a family business in the family.
