- small company owners or business partnerships who need succession after the death of an 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.
Van Devander said Survivorship Builder’s appeal is designed to be broad, and insuring two lives on one policy is often more affordable than purchasing two individual policies. The indexed universal life product offers unique options, tax advantages and cash accumulation features to meet the needs of customers in variety of circumstances.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.” Historically, cap rates have ranged between 10 and 14 percent. There is also a minimum guaranteed interest crediting rate should the index perform poorly during a particular period. “This is a product with great flexibility that epitomizes Aviva’s brand promise of we are building insurance around you,” Van Devander said. “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 the family business in the family.” About Aviva USA Aviva USA is a sales leader of indexed life insurance and indexed annuities. Headquartered in West Des Moines, Iowa, Aviva USA also has offices in Topeka, Kan., and Melville, N.Y. Aviva USA has approximately 1 million customers and employs more than 1,500 people across the country. Aviva USA is part of Aviva plc and can trace its presence in the United States back to 1896.