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May 15, 2002
Ohio National Introduces Two New UL Products

CINCINNATI -- Ohio National Financial Services has introduced two new highly competitive universal life products, Virtus 100 and Virtus Value, to enhance its current product line. Both products became available for sale in late April.

Virtus 100 offers a cost-effective death benefit guarantee to age 100 based on lifetime or limited pay premiums. It is designed with a built-in extended maturity feature that guarantees full coverage past age 100 with no additional premiums even if there is no surrender value in the policy. This product also offers a contractual “discount” on guaranteed premiums made on a short-pay basis for individuals looking for the lowest possible premium on a DBG to 100. Plus, it generates a high internal rate of return at death on a current lifetime basis.

“The market was demanding a product for individuals looking for a death benefit guarantee. Our challenge was to create the correct balance of low guaranteed premiums and competitive current performance, while keeping the policy language simple enough for consumers to understand. We accomplished this with Virtus 100,” said Carolyn Nightingale, Vice President Marketing Support. “The design of Virtus 100 works particularly well in estate preservation cases involving just one individual.”

Virtus Value delivers permanent life insurance protection at an affordable cost, and features a 10-year no-lapse guarantee for all issue ages. When blended with term, premiums are reduced even further. Virtus Value’s current interest rate competes well in the marketplace. When highly funded, it lends itself to strong cash accumulation.

Shawn Hartnett, Life Product Officer, said “Virtus Value sets a new benchmark in the UL industry with its combination of low lifetime premiums and potential for higher cash accumulation when over funded. As expected, Virtus Value outperforms other companies’ UL products on either a minimally funded basis for low lifetime premiums or on an over-funded basis for cash accumulation and distribution.”

Both products have six non-rated underwriting classes, including Super Preferred and Preferred, and are banded at higher face amounts to reduce current cost of insurance charges and raise current interest rates. Virtus 100 and Virtus Value are underwritten by Ohio National Life Assurance Corporation.

Tracing its corporate origins to 1909, Ohio National today markets a variety of insurance and financial products in 47 states (all except Alaska, Hawaii and New York), the District of Columbia and Puerto Rico, with subsidiary operations in Santiago, Chile. More than 700 associates are located in its Cincinnati, Ohio headquarters. Its affiliated companies now have nearly $15 billion of total assets under management.

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513.794.6254 (office) or 513.508.9436 (mobile)


 
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©2014 Ohio National Financial Services, Inc.
Product Issuers: The Ohio National Life Insurance Company
and Ohio National Life Assurance Corporation
Registered Products Distributed by: Ohio National Equities, Inc.
Member FINRA
One Financial Way | Cincinnati, Ohio 45242
513.794.6100