AuguStar Life enhances its suite of living benefits

New feature gives clients flexible access to death benefit when they need it most

AuguStar® Life, a Constellation business, has enhanced its LiveNow Access accelerated benefit rider with a new critical illness feature, giving clients more ways to use their life insurance when it matters most.

The addition complements the rider’s suite of living benefits, which also includes chronic and terminal illness coverage. Together, these features allow clients with a qualifying illness to access a portion of their death benefit during their lifetime for any purpose, helping provide financial flexibility at a critical time.

The LiveNow Access rider is designed to give clients clarity and control. Unlike discount-based approaches commonly used across the industry, AuguStar’s lien method allows clients to see in advance how much they can access and how it will impact their remaining death benefit, helping them make informed decisions about how and when to use their policy. It also gives financial professionals the ability to illustrate benefits in advance and set clearer expectations with clients.

“As more carriers offer accelerated benefit riders, how benefits are calculated matters,” said Jack Heller, AuguStar Life vice president and chief distribution officer. “Our approach gives clients clarity upfront so they can see what they can access and what remains for their loved ones.”


Emphasizing transparency

Under AuguStar’s approach, benefit eligibility does not require additional underwriting at the time of claim, and maximum benefit amounts can be illustrated in advance. When a benefit is taken, a lien is established against the policy’s death benefit for the amount of the benefit taken plus a one-time administrative fee.  The lien accrues additional carrying charges over time and is deducted from the death benefit when the insured passes away.

By contrast, discount‑based riders often rely on life expectancy and condition severity at the time of claim, which can result in reduced payouts and a disproportionate reduction to remaining death benefits.


Designed for flexibility and predictability

LiveNow Access benefits can be used for any purpose, including health‑related expenses or personal goals. Premiums and policy charges remain unchanged after benefits are taken.

The LiveNow Access accelerated benefit rider is available on select permanent life insurance products issued by AuguStar Life Insurance Company. Rider availability and features vary by state.

About AuguStar Life

AuguStar Life markets indexed universal life, indexed whole life, term and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStar Life is a member of the Constellation family of businesses, which also includes AuguStar Retirement, AuguStar Seguros, Constellation Investments, Constellation Re and Constellation Institutional Markets. Constellation’s investors and equal partners, La Caisse and Ontario Teachers’, are two of North America’s largest long-term institutional investors, managing CA$796 billion in net assets, including CA$136 billion in private capital investments (as of Dec. 31, 2025). More information is available at augustarfinancial.com.

The optional LiveNow Access Rider issued on Form ICC26-CCTAD-1 and any state variations. LiveNow Access rider not yet available in California, and Florida. LiveNow Access rider benefits and features may vary by state.

The LiveNow Access rider provides for a partial acceleration of the policy death benefit in the event that the base policy insured is certified by a licensed physician as being chronically ill, critically ill or terminally ill. By taking an accelerated death benefit payment, a lien is created against the policy death benefit. The lien accrues carrying charges at an adjustable rate we declare. The lien, including the lien carrying charges, will be deducted from the total death benefit otherwise payable to the policy beneficiary(ies) and will reduce the cash value available for policy loans, surrenders, or the exercise of any non-forfeiture option.   The required premium for the policy must still be paid even if an accelerated death benefit is taken. If an accelerated benefit is taken and the policy lapses or otherwise terminates, a taxable event may occur.

While the lien method used by the LiveNow Access rider is designed to provide enhanced value to policyholders as compared to discount-based riders, individual circumstances may vary, and discount-based riders may offer superior benefits under certain circumstances.

The LiveNow Access rider is not long-term care insurance and does not provide a lifetime benefit payment, nor may it cover all of the expenses associated with long-term care. It is not intended to replace the need for long-term care insurance, health insurance, or nursing home insurance.

Indexed whole life insurance is issued by AuguStar Life Insurance Company on Policy Forms ICC22-IWL-1/U and any state variations. Indexed universal life insurance is issued by AuguStar Life Insurance Companion Policy Forms ICC19-IUL-1/1U and any state variations. The life insurance policy and associated riders contain exclusions, limitations, reductions of benefits, and terms for continuing to keep coverage in-force.

Guarantees based on the claims-paying ability of the issuer. Guarantees do not apply to the investment performance of any chosen index. Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

AuguStar Life launches its most competitive income IUL product to date

At launch, Virtus IUL III is a top tier IUL product for income

AuguStar® Life, a Constellation company, is proud to announce the launch of Virtus IUL III, one of the life insurance industry’s top indexed universal life products. Designed to provide clients with a blend of accumulation potential, superior income distribution and protection features, it is an ideal solution for both personal and business financial planning needs.

“Our strategy has been to elevate our indexed product line to be among the best in the business,” said Mark Peterson, AuguStar Life Chief Distribution Officer. “Additionally, financial professionals are looking for products with greater income and accumulation potential features that don’t sacrifice the protection benefits, and this product delivers in a big way.”

In addition to its income and accumulation potential features, Virtus IUL III offers a variety of protection options, including level and increasing death benefit choices, a No Lapse Guarantee and optional riders such as the Accelerated Benefit Rider for chronic and terminal illness. These features ensure that clients can tailor their policies to meet their unique financial goals and provide peace of mind for their loved ones.

In a comparison of expenses as a percentage of premium, Virtus IUL III is designed to offer competitive expense levels relative to similar products, making it a cost-effective choice for clients seeking to maximize their policy’s cash value and income potential.

“We are excited to introduce Virtus IUL III to the market,” continues Peterson. “This product represents our commitment to opening up a universe of possibilities for our clients by offering them innovative and flexible solutions to navigate their financial journeys.”

More information about AuguStar Life’s IUL offerings can be found on the AuguStar website.

About AuguStar Life
AuguStar Life markets indexed universal life, indexed whole life, term and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStar Life is a member of the Constellation family of companies, which also includes AuguStar Retirement, AuguStar Seguros, Constellation Investments, Constellation Re and Constellation Institutional Markets. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of North America’s largest long-term institutional investors, managing more than CA$740 billion in net assets, including more than CA$150 billion in private capital investments (as of Dec. 31, 2024). More information is available at augustarfinancial.com.

 

Minimum premiums must be met for the guaranteed death benefit to remain in place.

Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.

Indexed universal life insurance is issued by AuguStar Life Assurance Corporation. Guarantees based on the claims-paying ability of the issuer. Guarantees do not apply to the investment performance of any chosen index. Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

Fitch upgrades Constellation’s insurance subsidiaries’ rating to ‘A’

Constellation Insurance, Inc., announces today that Fitch Ratings has upgraded its Insurer Financial Strength (IFS) rating of its insurance subsidiaries, AuguStar® Life Insurance Company, AuguStar Life Assurance Corporation and National Security Life and Annuity Co, to “A” and assigned a stable outlook.

“We are very pleased Fitch has recognized our strategic transformation into a highly-capitalized, well-diversified, retail and institutional franchise with strong market position and substantial growth momentum across each of our six core businesses,” says Anurag Chandra, Constellation founder, chairman and chief executive officer.

In its release, Fitch noted “Constellation, through its rebranded AuguStar Life and Retirement lines of business, has gained good traction in creating market-leading life and annuity businesses that offer a broad array of products distributed through a growing network.” Fitch also notes, “This success is reflected in the company’s increasing sales and core earnings. In addition to life and retirement, the company has enhanced its geographical and business diversification through its expanding operations in LATAM, reinsurance, asset management and institutional sectors, which should further support earnings stability and growth over time.” Additionally, Fitch noted that the rating upgrade reflects “the company’s improved operating scale and lower-risk business profile.”

About Constellation
Constellation is a diversified financial services group offering insurance, reinsurance, asset management and institutional markets solutions through AuguStar Retirement, AuguStar Life, AuguStar Seguros, Constellation Investments, Constellation Re and Constellation Institutional Markets. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of the largest long-term institutional investors in North America.

AuguStar Life expands IUL line with new protection-forward product

AuguStar Life, a Constellation company, announces the launch of Virtus Protection Indexed Universal Life Insurance, strengthening its lineup of indexed life insurance products.

Karl Kreunen, AuguStar Life vice president and chief distribution officer, traditional channel, emphasizes the benefits of the latest AuguStar Life indexed product, “Virtus Protection IUL represents AuguStar’s ongoing commitment to providing competitive products to financial professionals, helping them bolster their practices and meet a wide variety of client needs. For legacy-focused clients, this product lets financial professionals offer low-cost protection with a bundled rider that helps ensure that protection will be there for the long term, all with the flexibility that’s a hallmark of indexed universal life insurance products.”

Virtus Protection IUL offers protection-forward coverage with accumulation potential through the following features:

  • Low-cost death benefit protection – Virtus Protection IUL is focused on providing strong death benefits at lower costs than accumulation-focused IUL products, competing with some of the best protection IUL products in the industry, Virtus Protection IUL’s death benefit is paid to beneficiaries on an income tax-free basis, helping to give them peace of mind.
  • Extended no-lapse guarantee – This rider ensures that, depending on the client’s age at issue, the policy will not lapse for 55 years or until age 90, even if the cash surrender value is $0.1
  • Cash value growth options & protections – The policyholder can allocate any cash value in the policy among three index accounts and one fixed interest account – each earning interest in a different way. Each index account has a 0% “floor,” meaning negative index performance alone won’t reduce the death benefit or cash value. A 2% account value true-up is also built into the product to help make up for lost growth in the unlikely event the index account shows zero growth every year.2

Additionally, Virtus Protection IUL can help business owners fund a buy-sell agreement, provide capital for the business upon an owner’s death, equitably distribute a business owner’s estate or meet other needs.

“AuguStar Life continues to focus on creating the best indexed life insurance products on the market that address policyholder needs in current marketplace conditions,” Kreunen added. “We’re particularly excited about this product’s ability to protect your policy as you age, thanks to robust protection and accumulation potential.”

Virtus Protection IUL has index-linked interest crediting which operates with caps and floors. This allows for the ability to potentially earn interest when the index increases, yet prevents the account from decreasing due to an index decline.

About AuguStar Life

AuguStar Life markets indexed universal life, indexed whole life, term, and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStar Life is a member of the Constellation family of companies. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of North America’s largest long-term institutional investors, managing more than CA$681 billion in net assets, including more than CA$138 billion in private capital investments (as of Dec. 31, 2023). More information is available at augustarfinancial.com.

1 As long as the cumulative premium paid, accumulated at interest (less any outstanding loans and withdrawals, also accumulated at interest) equals or exceeds the cumulative Extended No Lapse Premiums due to date

2 The 2% cumulative Account Value True-up guarantees that upon policy cancellation (“full surrender”) or death in policy year six or later, the cash value will never be less than it would have been if all premiums had been allocated to the Fixed Account and credited with 2% interest since issue.

Minimum premiums must be met for the guaranteed death benefit to remain in place.
Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.
Indexed universal life insurance is issued by AuguStar Life Assurance Corporation. Guarantees based on the claims-paying ability of the issuer. Guarantees do not apply to the investment performance of any chosen index. Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

AuguStar Life Launches 20-Pay Option with Innovative Indexed Whole Life Product

AuguStar Life, a Constellation company, today announces the launch of its 20-pay Prestige Indexed Whole Life insurance, further expanding its indexed life insurance portfolio. This new addition to the Prestige lineup complements the 10-pay version introduced in 2022, providing clients with enhanced flexibility and growth potential while minimizing market risks.

Karl Kreunen, AuguStar Life vice president and chief distribution officer, emphasizes the benefits of the 20-pay Prestige IWL, stating, “This new product expands our IWL line by adding a lower premium option, making it more accessible to consumers. This product lineup provides guarantees that you find in whole life with the performance potential of indexed life insurance. It’s a powerful combination, and you can only find multi-pay IWL at AuguStar Life.”

AuguStar Life remains committed to expanding its life insurance business and leveraging its success with indexed life insurance products. The Prestige IWL 20-pay option caters to both individual and business clients, offering flexibility within various financial plans.

Prestige Indexed Whole Life insurance provides the essential, guaranteed death benefit protection of whole life insurance to clients while letting them tap into market-based growth potential to build cash value that can support future needs. These products strike a balance between a simple, flexible design and robust guarantees, making them suitable for a wide range of planning requirements.

Business owners can use Prestige Indexed Whole Life insurance for their own financial planning needs, such as funding a buy-sell agreement or securing a flexible source of protection and capital for their business. Additionally, it can be employed to attract, retain and reward talent through strategies like split-dollar arrangements, executive bonus plans or supplemental executive retirement plans (SERPs).

AuguStar Life’s commitment to growth and innovation in the life insurance industry is further exemplified by the launch of the 20-pay Prestige Indexed Whole Life insurance. With its attractive features and flexibility, this product is poised to meet the evolving needs of clients and solidify AuguStar Life’s position as a leader in the market.

About AuguStar Life

AuguStar Life markets indexed universal life, indexed whole life, term, and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStar Life is a member of the Constellation Insurance family of companies. As of December 31, 2022, Constellation’s family of insurance companies has over $34 billion in total assets under management. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of North America’s largest long-term institutional investors, managing over C$649 billion in net assets, including over C$139 billion in private capital investments. More information is available at augustarfinancial.com.

Minimum premiums must be met for the guaranteed death benefit to remain in place.
Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.
Indexed whole life insurance is issued by AuguStar Life Assurance Corporation. Guarantees based on the claims-paying ability of the issuer. Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

AuguStar Life expands distribution and marks entry into the brokerage channel

AuguStar Life, a Constellation company, announces it has entered the brokerage channel, further expanding its distribution footprint. This strategic move is part of AuguStar Life’s ongoing commitment to offering a wide range of top-tier insurance products to a broad range of financial professionals and their clients.

AuguStar Life is building on a 100-plus-year heritage of delivering high-quality insurance solutions that help individuals, families and businesses achieve their financial goals. Entering the brokerage channel, AuguStar Life signals its commitment to enhance the accessibility of its products by fostering strong relationships.

“Entering the brokerage channel aligns perfectly with our strategy to provide exceptional insurance solutions to as many people as possible,” says Bill Price, AuguStar Life president and CEO. “We have one of the strongest Indexed Universal Life products and the only 10-pay indexed whole life in the market and expanding our distribution in a meaningful way helps to grow the business and provide a broader array of clients with the protection and services they need. Both of these products, as well as the ones we will deliver in 2024, fit the needs of brokerage distribution.”

The AuguStar Life product portfolio is focused on high-quality indexed life products, both indexed universal life and multi-pay indexed whole life. It also includes competitively priced term policies convertible to the entire product line, low premium universal life insurance for death benefit protection and participating whole life insurance.

“This is an important milestone as we continue to grow our business,” comments Therese Rothenberger, AuguStar Life vice president and co-chief distribution and sales officer. “By growing our relationships with brokerage firms, we can expand the reach of our products in the marketplace. We are confident that the competitive products we offer will be attractive to a range of financial professionals and brokers. AuguStar Life is dedicated to providing brokers with the support and resources they need to excel in their roles and serve their clients effectively.”

AuguStar Life’s entry into the brokerage channel is a significant milestone that reinforces the company’s dedication to its clients and partners. By expanding its reach and product offerings, AuguStar Life is poised to continue its growth strategy while providing top-tier life insurance products designed to protect and enhance financial futures.

Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation, expected to officially change their names to AuguStar Life Insurance Company and AuguStar Life Assurance Corporation, respectively, in the fourth quarter of 2023.

Guarantees are based upon the claims-paying ability of The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation.

Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

About AuguStar Life

AuguStar Life markets indexed universal life, indexed whole life, term, and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStar Life is a member of the Constellation Insurance family of companies. As of December 31, 2022, Constellation’s family of insurance companies has over $34 billion in total assets under management. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of North America’s largest long-term institutional investors, managing over C$649 billion in net assets, including over C$139 billion in private capital investments. More information is available at augustarfinancial.com.