CUNA Mutual Modifies Group LifeProduct

MADISON, WI - (10/27/03) CUNA Mutual Group said it has mademodifications to its Group Life Insurance product to help the 3,200credit unions offering the coverage enhance their employee benefitspackages. Among those enhancements, the company said, is one thatwill benefit the growing number of older workers–anage-related coverage reduction schedule. Under the previous plan,the death benefit reduced to 25% of its original amount when anactive, full-time employee turned age 70. Now, proceeds reduce toonly 65% at age 70, and 50% at age 75. Another change is anaccelerated death benefit that provides terminally ill employeeswith access to up to 50% of the death benefit, up to $250,000,before death occurs. The company said improvements to the optionalAD&D rider include the addition of a standard seat belt featurethat pays additional benefits if employees or their family arekilled in an auto accident while wearing seatbelts.