1998 0902 - Chicago Tribune - Preventing Loss with an Expensive Safety Net - [link]
All fund investors want to find a way to lock in their winnings and eliminate the potential for loss.
To make it happen, the fund industry would have you make a deal with the devil.
When you leave this mortal coil and he gets your soul, your heirs max out on your lifetime of winnings.
That’s the basis of new insurance products created by three companies for their mutual funds.
Essentially, these companies offer funds with a death benefit that safeguards your fund account against market downturns, a concept that intrigues investors and fund companies alike.
While only three fund groups offer this type of insurance today, it’s availability could be widespread within 12 months.
Prudential Investments unveiled its new PruTector product last week, following SunAmerica and American Skandia into the term-insurance-on-funds business.