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StateTrust Life Launches “SENTINEL” Life Insurance Product With Return of Premium
New Product Adapts to Meet Various Protection Requirements over a Given Period, also Pays Death BenefitsTortola, Virgin Islands, August 24 2009. – “Sentinel” with return of premium arrives to compete in the insurance industry, offering two unique features from StateTrust Life products: Customers choose their preferred currency and are able to pay premiums through their StateTrust Bank & Trust accounts. This new product combines the low cost of term insurance with two alternatives—upon death of the policyholder, beneficiaries receive benefits (as long as the policy is in effect), or once the contract term expires, the policyholder receives all the premiums paid over the life of the contract. “Sentinel”, with return of premium is designed to meet protection needs for a specific term, 20-30 years. It may be used by companies wishing to insure their key executives over a specific period of time, or by parents or individuals who already have a life policy, but want to expand their coverage without involving major financial efforts. Since policyholders decide the currency of their policy, their investments are protected from unstable currency fluctuations. In addition, it provides riders that enhance product protection: Coverage for accidental death, spouse/other insured insurance, critical illness and accelerated death benefit for terminal illness. It has a minimum insured amount of 50,000 dollars or Euros, and a maximum of 2,500,000 dollars or Euros. At the end of the term, the policyholder has the option not only to renew the contract, but to convert it to a permanent life policy. It also provides the option to renew each year, when cost of premiums is recalculated. For David Vurgait, President, StateTrust Life and Annuities, “Our new product is highly competitive, has a low premiums, and, in comparison, provides high levels of protection. The cost-benefit ratio is clearly favorable to the consumer.” StateTrust Life and Annuities is a company dedicated to providing life insurance, and education and retirement plans. The company has a team of planning and estate succession experts, as well as investment and trust fund planning experts.