(April 17 – 10:40 ET) – Standard Life is extending its Life Profile” preferred rates program to include its popular Perspecta universal life Insurance product. The program was formerly available only on its term products.

Perspecta is a universal life insurance product that combines customized, guaranteed long-term insurance protection with tax-sheltered savings opportunities. It allows the owner of the policy to choose and change the amounts to be deposited, the deposit frequency and the investment options.

“Until recently, the only criteria most companies looked at when assessing the cost of a Universal Life policy were age, gender and whether or not the applicant was a smoker” says Alain Brunet, senior vice president, marketing, Standard Life. “As people’s lifestyles change and become more varied, it’s increasingly obvious that many other factors are involved in creating an accurate profile of an individual — and in determining the most suitable insurance rates for them. Our Life Profiles program takes this into account and bases an individual’s insurance rate on their all-around lifestyle and medical history. This can result in substantial savings for healthy individuals with healthy lifestyles.”

“Providing tax-sheltering now and insurance when needed, “Perspecta” is a useful financial planning tool for both families and businesses” explains Mark McCloskey, vice president, sales – individual market, Standard Life. “With the addition of the Life Profiles preferred rates program, the product becomes even more attractive for many people”.