HARTFORD, Conn. - Travelers Insurance, a unit of Citigroup Inc., has introduced a second-to-die variable life insurance product, Travelers Variable Survivorship Life II.

Buyers can invest in their choice of 37 vehicles, including bonds, domestic stocks, and seven international equity funds. The product's features include dollar-cost averaging, portfolio rebalancing, and a no-lapse guarantee. Several riders are available to help policyholders customize the product.

It can be used to address planning needs such as business succession, buy-sell agreements, and wealth replacement options for charitable remainder trusts, Travelers said.

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