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Symetra today announced the introduction of a new version of its Accumulator indexed universal life insurance (IUL) product — Symetra Accumulator Ascent IUL. The flexible-premium adjustable life insurance policy with index-linked interest options provides death benefit protection plus policy cash value growth potential that can help with future income needs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220412005851/en/

“Symetra is committed to the IUL marketplace and always looking for ways to offer products and services that provide significant value. Our enhanced Accumulator Ascent IUL offers clients a straightforward indexed universal life product with a simple story: the opportunity for even stronger cash value accumulation potential, more competitive policy distributions and lower policy charges,” said Phil Bouvier, senior vice president, Individual Life Sales and Marketing.

Accumulator Ascent offers eight interest crediting options: seven indexed strategies plus a fixed interest option. Any growth within the index strategies is linked to the performance of the selected market index. Policies can benefit from the potential growth of these external indexes, but are also protected from market losses.

Exclusive to Symetra are new Putnam Dynamic Low Volatility Excess Return Index Strategies (Putnam Index Strategies), which seek to generate index credits based on the Putnam Dynamic Low Volatility Excess Return Index. This dynamic index pursues attractive returns with a focus on managing volatility and avoiding unwanted surprises. In addition to the new Putnam Index Strategies, Accumulator Ascent continues to offer Symetra’s competitive Core and Allocation Index (AI) Strategies.

Symetra MultiLife Business Program

Earlier this year, Symetra rolled out a new MultiLife Business Program, an efficient insurance solution for small to mid-sized employers looking to retain top talent and protect their business. Program highlights include:

Eligible employees under the program are covered by a Symetra Accumulator Ascent IUL policy, which provides death benefit protection and growth potential based on the performance of their selected index strategies.
Policies are issued to program-eligible employees on a guaranteed-issue (GI) underwriting basis, removing the need for medical evidence or traditional underwriting reviews.
MultiLife cases are submitted through a simple three-step case review and invitation to apply process.

“Symetra has been very deliberate about expanding our life portfolio to help us and our BGA partners reach more customers. Enhanced products like Accumulator Ascent IUL and new offerings like our MultiLife Business Program and award-winning SwiftTerm® digital term life insurance are bringing a wider array of compelling solutions to Symetra customers and partners,” said Phil Bouvier.

To learn more about Symetra Accumulator Ascent IUL or the MultiLife Business Program, contact your insurance professional.

About Symetra

Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.

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Securian Financial has added three return of premium options1, an optional premium waiver agreement and other enhancements to the latest version of SecureCare, the St. Paul, Minnesota-based insurer’s hybrid life/long-term care insurance product.

SecureCare III, issued by MINNESOTA LIFE INSURANCE COMPANY, has the key feature of its predecessors—a cash indemnity benefit for long-term care that consumers can use however they want without the need to submit receipts for reimbursement2—plus more flexibility.

First, SecureCare III is a nonparticipating whole life insurance policy with long-term care benefits. Previous versions of SecureCare were universal life policies. Changing the chassis helps simplify the product, satisfying a key industry-wide request from financial professionals and consumers alike.

Second, in addition to offering a long-term care benefit, a guaranteed death benefit and reduced paid-up benefits3, SecureCare III offers three different return of premium options—allowing consumers to choose the level of protection that best fits their needs4:

The Vesting option is for consumers whose priority is long-term care protection and maintaining the full value of their premium dollars. It offers a 100% premium refund to consumers who cancel their policies, subject to a vesting schedule.
The 75% option is for consumers who want enhanced long-term care protection and the ability to get most of their money back if needed. It offers a 75% return of premium for consumers who cancel their policies, while providing a long-term care benefit greater than the Vesting option.
The LTC Boost option is for consumers who want the most long-term care protection possible for the least amount of money. It offers a return of premium equivalent to a policy’s guaranteed cash value at the time of policy cancellation and maximizes the long-term care benefit.

Third, SecureCare III offers multiple premium payment options. Consumers can choose a single-pay option—paying their entire premium up front in a single lump payment—or they can choose a multi-pay option, spreading their premium payments out over 5, 7, 10 or 15 years. SecureCare III affords consumers enhanced premium payment flexibility by allowing them to pay a larger lump sum as the initial premium payment and then paying fixed level premiums thereafter. As with its predecessors, SecureCare III premiums are guaranteed to never increase and benefits are guaranteed to never decrease.

Consumers choose to receive long-term care benefits for a minimum of 4 years or a maximum of 8 years. Consumers who take less than the maximum monthly benefit while on claim can extend their benefit’s duration.

Finally, in addition to an optional inflation protection agreement that helps the long-term care benefit keep up with rising costs5, consumers can choose an optional premium waiver. With this optional feature, if a consumer goes on claim while still paying their premiums, Securian Financial will cover the full cost of the consumer’s premium payments as long as the consumer is eligible to receive benefits.

“We believe SecureCare III is the most competitive cash indemnity product in the hybrid life/long-term care insurance market today,” said Brandon Heskett, national sales vice president and spokesperson for SecureCare III at Securian Financial. “It has what financial professionals and consumers loved about the product’s predecessors with added enhancements and flexibility to make it stand out from the competition.”

Securian Financial first introduced SecureCare in 2017. SecureCare’s year-over-year sales have increased by double digits annually, making it one of the industry’s top-selling hybrid life/long-term care insurance products.6

SecureCare III is available to all Securian Financial-approved distribution channels in states that are part of the Interstate Insurance Product Regulation Compact, plus Florida and New Jersey. Financial professionals interested in learning more can do so by visiting the product’s website or by calling the SecureCare sales team at 1-888-900-1962.

About Securian Financial

At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.

# # #

1.

Upon surrender, the policy owner will receive the surrender value proceeds. The surrender value proceeds may not equal the sum of premiums paid. Surrenders are subject to the return of premium option selected and the premium vesting schedule (if applicable). For more information regarding return of premium options, please consult with your financial professional.

2.

If owner/insured are different, benefits will be paid to the owner upon the insured being certified as a chronically ill individual. Under certain circumstances, benefits may be taxable. Please consult with your tax advisor.

3.

Reduced paid-up benefits refers to the reduced paid-up nonforfeiture benefit that purchases paid-up insurance in the event of premium lapse.

4.

The death benefit proceeds, return of premium amount and long-term care benefit amounts depend, in part, on the return of premium option you select on your policy application. For more information regarding return of premium options, please consult with your financial professional.

5.

The optional Long-Term Care Inflation Protection Agreement is available with 3% simple interest, 3% compound interest, 5% simple interest or 5% compound interest.

6.

LIMRA U.S. Linked Benefit Sales Reports – 2017-2020 Fourth Quarter Year-to-Date. Securian Financial and its subsidiaries are basing this claim on figures shown in the 2017-2020 Linked Benefit Sales reports showing year-over-year growth.

The purpose of this material is the solicitation of insurance. A financial professional may contact you.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.

Life insurance products contain fees, such as mortality and expense charges, and may contain restrictions, such as surrender periods.

Insurance policy guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.

SecureCare III may not be available in all states. For costs and further details of coverage, including the terms and conditions under which the policy may be continued in force, contact your agent/representative.

SecureCare III includes the Acceleration for Long-Term Care Agreement and Extension of Long-Term Care Agreement. These two agreements are tax qualified long-term care agreements that cover care such as nursing care, home and community-based care, and informal care as defined in the agreement. These agreements provide for the payment of a monthly benefit for qualified long-term care services. These agreements are intended to provide federally tax qualified long-term care insurance benefits under Section 7702B of the Internal Revenue Code, as amended. However, due to uncertainty in the tax law, benefits paid under these agreements may be taxable.

Additional agreements may be available. Agreements may be subject to additional costs and restrictions.

Agreements may not be available in all states or may exist under a different name in various states and may not be available in combination with other agreements.

To be eligible for benefits, the insured must be a chronically ill individual and have been prescribed qualified long-term care services pursuant to a plan of care prescribed by a licensed health care practitioner.

This information is meant to help you understand the SecureCare III policy, not as a means to compare with other products. The amount of benefits provided will depend upon the benefits selected and the charges will vary as such. Some provisions may not apply or may vary depending on the state in which you live at the time of policy issue. Please refer to your state’s Outline of Coverage for the exact language in your state.

This policy has exclusions, limitations and reduction of benefits, under which the policy may be continued in force or discontinued. For costs and complete details of the coverage, call or write your producer or Minnesota Life Insurance Company.

EXCLUSIONS AND LIMITATIONS

You are not eligible to receive benefits if the insured’s long-term care service needs are caused directly or indirectly by, result in whole or in part, from or during, or there is contribution from:

alcoholism or drug addiction; or
war or any act of war, while the insured is serving in the military, naval or air forces of any country at war, whether declared or undeclared; or
active service in the armed forces or units auxiliary thereto; or
the insured’s active participation in a riot, insurrection or terrorist activity; or
committing or attempting to commit a felony; or
any attempt at suicide, or intentionally self-inflicted injury, while sane or insane.

PRE-EXISTING CONDITION LIMITATIONS

Pre-existing condition limitations refer to any condition or disease for which the insured received medical advice or treatment within six months preceding the effective date of the Acceleration for Long-Term Care Agreement for that same condition or disease or a related condition or disease. There does not need to be a specific diagnosis for the condition or disease for it to be considered a pre-existing condition. We will not pay benefits for a pre-existing condition or disease that is not disclosed in the application for a period of six months from the effective date of this agreement. A pre-existing condition during the first six months that the agreement is in force will not be counted toward the satisfaction of the long-term care elimination period.

SecureCare III may not cover all of the costs associated with long-term care or terminal illness that the insured incurs. This product is generally not subject to health insurance requirements. This product is not a state-approved Partnership for Long Term Care Program product and is not a Medicare Supplement policy. Receipt of a long-term care or terminal illness benefit payment under this product may adversely affect eligibility for Medicaid or other government benefits or entitlements.

The death proceeds will be reduced by a long-term care or terminal illness benefit payment under this policy. Please consult a tax advisor regarding long-term care benefit payments, terminal illness benefit payments, or when taking a loan or withdrawal from a life insurance contract.

This is a general communication for informational and educational purposes. The information is not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. If you are seeking investment advice or recommendations, please contact your financial professional.

INSURANCE PRODUCTS ARE ISSUED BY MINNESOTA LIFE INSURANCE COMPANY in all states except New York. In New York, products are issued by Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group, Inc.

POLICY FORM NUMBERS ICC20-20212, 20-20212 and any state variations; ICC21-20220, 21-20220 and any state variations; ICC21-20221, 21-20221 and any state variations; ICC21-20222, 21-20222 and any state variations; ICC21-20223, 21-20223 and any state variations.

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Formerly licensed insurance agent David Lance Hall, 64, of Bakersfield, Calif., was arraigned this week in Kern County Superior Court on six felony counts of theft and misappropriations of fiduciary funds after allegedly stealing money from his clients that was meant to pay for their insurance coverage.

The California Department of Insurance received a complaint from the insurance company Hall worked for alleging he diverted and misappropriated money he collected from several clients for their insurance premiums.

The Department’s investigation determined Hall, while working as a licensed agent, withdrew money entrusted to him by his clients for insurance coverage from his business bank trust account and deposited that money into his personal account. The investigation found Hall did this on six separate occasions between September 2018 and December 2018. His alleged theft of premium funds from his clients totals $11,961.

The Department revoked Hall’s license on March 8, 2021. The Kern County District Attorney’s Office is prosecuting this case. Hall is scheduled to return to court on April 22, 2022.

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New York Life, America’s largest1 mutual life insurer, today announced that Craig DeSanto has assumed the company’s chief executive officer (CEO) position. Mr. DeSanto was named CEO-elect in November 2021 after serving as a member of New York Life’s Board of Directors since February 2021 and as New York Life’s president, a title he will retain, since July 2020.

As CEO, Mr. DeSanto will lead one of the largest life insurance companies in the world. New York Life and its affiliates provide insurance, investment, and retirement solutions that help people at all stages of life, delivered through the company’s industry-leading agency field force. New York Life also provides insurance and investment solutions to the institutional market and operates one of the world’s largest global asset managers through New York Life Investments2. New York Life has $760 billion in assets under management3 and a workforce of more than 23,000 agents and employees.

Mr. DeSanto succeeds Ted Mathas, who served as CEO for nearly fourteen years. Mr. Mathas will remain chairman of the board in a non-executive capacity.

“I am honored to have the confidence of New York Life’s Board of Directors and to succeed Ted as the next steward of the company,” said Mr. DeSanto. “Having built my entire career at New York Life, I have a deep appreciation for our 177-year track record of enduring success in providing financial security and peace of mind to our policy owners and clients. Our historic period of growth under Ted’s leadership capitalized on our mutuality, superior financial strength, unrivaled career agency system, and our outstanding, diverse team of dedicated agents and employees. As a result, we are exceptionally well-positioned to continue to provide the trusted advice and guidance our clients expect from us and to always be there when we are needed the most.”

Mr. DeSanto joined New York Life in 1997 as an actuarial summer intern and was promoted into roles of increasing responsibility across the company’s finance and business operations, which included leading the institutional and individual life insurance businesses. In 2015, Mr. DeSanto was appointed leader of the company’s strategic businesses, where he strengthened and further diversified a portfolio of businesses that complement and support the company’s core retail insurance business. Today, these strategic businesses generate roughly half of New York Life’s earnings and are a significant contributor to dividends paid.

In 2018, Mr. DeSanto assumed oversight for New York Life’s top-ranked retail annuity business line. In 2019, he added oversight of New York Life Investment Management (NYLIM), New York Life’s multi-boutique third-party asset management business serving institutions and individuals around the world with more than $432 billion in assets under management4. In 2020, Mr. DeSanto led the effort to close the acquisition of Cigna’s Group Life and Disability business, now known as New York Life Group Benefit Solutions. The acquisition was the largest in New York Life’s history.

“Craig is a proven leader and is highly qualified to further New York Life’s tradition of delivering on the company’s commitments to policy owners and clients, agents and employees, and the communities where we work and live,” said Mr. Mathas. “In a career that spans more than two decades with New York Life, he has held leadership roles and produced outstanding results in virtually every line of business. He has a clear vision for building on our company’s success, anchored by a steadfast commitment to our mission, purpose, and values.”

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies5.

New York Life Group Benefit Solutions products and services are provided by Life Insurance Company of North America or New York Life Group Insurance Company of NY, subsidiaries of New York Life Insurance Company. Life Insurance Company of North America is not authorized in New York and does not conduct insurance business in New York.

Note: “New York Life” or “the company” can refer either separately to the parent company, New York Life Insurance Company (NYLIC), or one of its subsidiaries, or collectively to all New York Life companies, which include NYLIC and its subsidiaries and affiliates, including New York Life Insurance and Annuity Corporation (NYLIAC), NYLIFE Insurance Company of Arizona (NYLAZ), Life Insurance Company of North America (LINA), and New York Life Group Insurance Company of NY (NYLGICNY). NYLAZ is not authorized in New York or Maine, and does not conduct insurance business in New York or Maine. LINA is not authorized in New York and does not conduct insurance business in New York. LINA and NYLGICNY are referred to as the New York Life Group Benefit Solutions business. Any discussion of ratings and safety applies only to the financial strength of New York Life, and not to the performance of any investment products issued by the company. Such products’ performances will fluctuate with market conditions.

1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/2/2021. For methodology, please see http://fortune.com/fortune500/.

2New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.

3Assets under management consist of cash and invested assets and separate account assets of the company’s domestic and international insurance operations, and assets the company manages for third-party investors, including mutual funds, separately managed accounts, retirement plans and assets under administration. The company’s general account investment portfolio totaled $296.96 billion at December 31, 2021 (including $113.15 billion invested assets for NYLIAC and $8.10 billion invested assets for LINA). At December 31, 2021, total assets equaled $379.98 billion (including $183.13 billion total assets for NYLIAC and $9.00 billion total assets for LINA). Total liabilities, excluding the Asset Valuation Reserve (AVR), equaled $349.29 billion (including $171.52 billion total liabilities for NYLIAC and $7.25 billion total liabilities for LINA).

4NYLIM assets under management as of 12/31/2021.

5Individual independent rating agency commentary as of 9/30/2021: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).

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Effective May 2, 2022, Pacific Life’s Pacific PremierCare suite of products will no longer be available for new sales.

This includes Pacific PremierCare® Choice one-year, five-year, 10-year, and lifetime premium whole life insurance products with long-term care (LTC) benefits1 and Pacific PremierCare Advantage Universal Life Insurance with Long-Term Care Benefits2 in California.

“Pacific Life remains committed to the long-term care market as we continue to recognize U.S. consumers’ large, unmet need in this area,” said Greg Reber, Pacific Life senior vice president and chief distribution officer, life insurance business. “We conducted a thorough strategic review of the LTC marketplace and see great potential in the market for chronic health (CHR) and LTC riders on cash value life insurance policies.”

Pacific Life has seen sales of hybrid LTC products decline as the current environment has made it difficult to be both competitive and profitable. By focusing solely on riders for our cash value products to meet the LTC need, the company can prioritize and utilize resources more effectively.

Pacific Life will continue to service all in-force Pacific PremierCare policies. For existing policyowners, there will be no change and they will continue to receive the exceptional service they’ve come to expect from Pacific Life.

About Pacific Life

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2021 is compiled by Pacific Life using the 2021 FORTUNE 500® list.

Policy Form P17PCH and S17PCHMAXM or ICC17 P17PCH and ICC17 S17PCHMAXM; P17PCH and S17PCH100S or ICC17 P17PCH and ICC17 S17PCH100S; P17PCH and S17PCHMAXS or ICC17 P17PCH and ICC17 S17PCHMAXS; based on product and state of policy issue.
Pacific Life Insurance Company’s Pacific PremierCare Advantage (Policy Form #P12PPC-CA) is a flexible premium adjustable life insurance policy with long-term care insurance payable through reimbursements.

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DUNCAN — The second trial for an Oklahoma City man accused of killing his father and faking it to look like a suicide has been moved to the September jury trial docket.

Stephens County District Judge Ken Graham ordered a continuance of the trial for James Kyle Brooks, 41, for a charge of first-degree murder until 9 a.m. Sept. 19, records indicate. If convicted, he could face the death penalty, life without parole or a life sentence.

An October 2019 jury trial ended up with a hung jury resulting in mistrial, records indicate.

Investigators believe Brooks was motivated to kill for a $500,000 insurance policy taken out without his father’s knowledge, according to investigators.

Marlow police were called by Brooks on Aug. 8, 2012, on the report his father, Timothy, had shot himself at his home, the probable cause affidavit states. The Oklahoma State Bureau of Investigation (OSBI) was called to investigate after Brooks’ story did not match evidence at the scene.

Timothy Brooks was found sitting in a chair, clad only in shorts, and had suffered a gunshot wound to his upper abdomen. There was a 12-gauge shotgun with the muzzle pointing upward located between his legs, the affidavit states. Investigators said Brooks picked up the shotgun before following orders to put it down.

Brooks offered investigators his story of being estranged from his father. He’d gone to his father’s the day before to talk. According to the affidavit, he returned the next morning and said his father began “talking crazy talk” while reloading a shotgun and threatened to shoot himself. He said that after about 20 minutes, he lifted the gun and said “watch this” before he shot himself in the abdomen.

Brooks told investigators that he was beneficiary of a life insurance policy for his father but was unsure if it was $250,000 or $500,000. He added that the policy probably had a suicide clause, meaning it wouldn’t pay in the event of suicide.

In December 2016, when investigators accessed Timothy Brooks’ life insurance policy, it was discovered Brooks was the sole beneficiary of the policy, according to the affidavit. A claim was filed in August 2013 and investigators learned Brooks continued paying the premium for 10 months following his father’s death.

Brooks was eventually paid the value of the $500,000 policy as well as a check for $8,000 for interest and another $2,000 as repayment of premiums paid after his father’s death, the affidavit states.

Timothy Brooks’ death ruling as suicide had been disputed by the State Medical Examiner’s autopsy report and the manner of death was listed as undetermined. Medical Examiner Dr. Marc Harrison described to investigators how Brooks told them his father fired the gun and he didn’t believe it was possible to have happened in that manner with the shotgun, according to the affidavit.

Brooks had been in jail and held on no bond since his initial court appearance on March 22, 2018. After posting an ordered $400,000 bond, he was freed two months later.

Brooks has been allowed to leave the state for various trips, according to court records.

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A relative of mine recently mentioned she had two life insurance policies. Is it OK for a person to have more than one life insurance policy? If so, why would someone do that?

A: There aren’t any rules against having more than one life insurance policy. The only real problem is it might complicate your life a little in terms of having multiple premium withdrawals, checks or possibly additional policy fees to worry about every month. It’s cheaper just to have just one policy, generally speaking, but regardless of whether you have one or more, I always recommend having 10 to 12 times your annual income wrapped up in a good, level term life insurance policy.

Different people have different personal and business financial situations, so there could be many reasons to have more than one life insurance policy. I have lots of insurance connected to our estate plan, our business and different kinds of things. Most life insurance companies will only write so much in coverage for one person, so when this has been the case, I just went to another carrier for additional coverage.

Also, some people buy more than one life insurance policy just to feel secure from a provider standpoint. If one insurance company goes out of business, they’ll still have another policy — or more — in place. That’s not usually a big problem, though, since the majority of insurance companies have insurance to back them up with the state, or are very financially stable.

I hope this helps!

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VANCOUVER, B.C. (PRWEB) April 26, 2022

Goose Insurance Services, an innovative insurance technology company that is making it easier and faster for consumers to get the coverage they need through a self-serve mobile app, announces it has expanded its individual term life insurance policies to US customers. In the last ten years, the number of Americans with life insurance policies has dropped significantly. According to a 2021 report from LIMRA, only 52% of Americans said they had life insurance, compared to 63% in 2011. Goose makes purchasing life insurance easier by eliminating common barriers to entry so more Americans can quickly secure coverage to protect themselves and their families.

The LIMRA report found that over 102 million uninsured or underinsured Americans know they need to get coverage or increase life insurance coverage and that 42% of households would face financial hardship within six months should a wage earner die unexpectedly. Additionally, 48% of Americans said they would be more likely to purchase life insurance if the process was simpler. This was especially true for women who said they were most likely to buy life insurance if it was fast, easy, and they did not need to see a doctor or have a medical exam.

“It is shocking to know that close to half of Americans are unprotected and have no financial security in place for their families should they unexpectedly die,” said Goose CEO and Co-Founder Dejan Mirkovic. “The insurance industry has long needed solutions to make it easier for consumers to buy life insurance policies and Goose has the solution. Now it takes minutes for Americans to answer some medical questions, select their coverage, and get their policy approved. We’ve eliminated the pain points and aligned the purchase of life insurance with today’s on-demand mobile-first consumer expectations.”

To purchase coverage using the Goose app, consumers answer questions about their age, height, weight, lifestyle, tobacco usage; as well as verify their identity via government-issued identification. They are then offered to select their coverage amount and term length, and the fixed period of years their life insurance premium will be guaranteed. Consumers can also complete Goose’s needs assessment survey about income and debts on the Goose app which helps estimate how much coverage may be needed.

“Goose is making industry-changing strides to make life insurance available to a broader consumer base in an easy to use and accessible mobile app,” Darren Hancock, Vice President of Marketing Sales of the American-Amicable Group. “With Goose, consumers have access to the life insurance they need and within minutes they can have the peace of mind they deserve knowing their families and loved ones are protected. We are extremely excited to be partnering with such an innovative and consumer-centric team.”

Up to 30-year term life insurance policies for up to $300,000 of coverage are now available on the Goose mobile app via the App Store or Google Play. Goose term life insurance policies for US customers are underwritten by Occidental Life Insurance Company of North Carolina out of Waco, Texas, a subsidiary of American-Amicable Group. For more information about Goose Insurance Services, or to download the app, visit http://www.gooseinsurance.com

About Goose

Established in 2018, Goose takes the confusing parts out of buying personal insurance in Canada and the United States. Goose makes it easier for consumers to get the right coverage; and it all happens in seconds, completely self-serve, from a single mobile app. For more information about Goose, or to download the app, visit http://www.gooseinsurance.com.

Read the full story at https://www.prweb.com/releases/2022/4/prweb18640469.htm

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NEW YORK, April 26, 2022 — Mutual of America Financial Group announced today that it has entered into a Stock Purchase Agreement to acquire Landmark Life Insurance Company, a widely licensed Texas life and annuity insurance company (“Landmark Life”). The transaction is expected to close during the third quarter of 2022, subject to customary closing conditions, including regulatory approval.

“The acquisition of Landmark Life represents another positive step towards achieving Mutual of America’s strategic growth plans in the guaranteed retirement income space,” said John R. Greed, Chairman, President and CEO of Mutual of America Financial Group.

Simpa Baiye, Executive Vice President and Chief Actuary of Mutual of America Financial Group, added, “This transaction will enhance our financial and distribution capacities to provide guaranteed income solutions and other products to individuals outside the state of New York.”

Tom Munson, CEO of Landmark Life and Jarvis Family general partner, stated, “The sale of Landmark Life represents a meaningful step towards our plans to focus on providing high value third-party administrative services to life insurers nationwide.”

Merger & Acquisition Services, Inc., served as the financial advisor and Eversheds Sutherland (US) LLP served as the legal advisor to Mutual of America for the acquisition. Propel Advisory Group, Inc., served as the financial advisor and Winstead PC served as the legal advisor to The Jarvis Family Limited Partnership.

About Mutual of America Financial Group

Mutual of America Financial Group is a leading provider of retirement services and investments to employers, employees and individuals. We provide high quality, innovative products and services, together with outstanding personalized service, at a competitive price to help our customers build and preserve assets to meet their retirement and investment related needs for a financially secure future. Our mission is built upon our values—integrity, prudence, reliability, excellence and social responsibility—which have guided us since 1945 and continue to serve us and our customers well. For more information, visit mutualofamerica.com, and connect with us via Facebook, Twitter and LinkedIn.

About Landmark Life

Landmark Life, based in Brownwood, Texas is a wholly owned subsidiary of The Jarvis Family Limited Partnership. Founded in 1964, Landmark Life underwrites life insurance and annuities in 36 states. Landmark solicits annuity and life business via an independent agency force.

SOURCE Mutual of America Financial Group

The post Mutual Of America Acquires Landmark Life appeared first on InsuranceNewsNet.

The post Mutual Of America Acquires Landmark Life appeared first on InsuranceNewsNet.