“We are expanding and enhancing our portfolio of products to provide customers with valuable and relevant benefits solutions.” said Carlo Mulvenna, Vice President, Group Domestic Markets.
New Orleans (PRWEB) October 14, 2010
Pan-American Life Insurance Group reports that the company is projected to double revenue growth in the Limited Benefit Medical product segment since the first quarter 2010 launch of Pan-American Benefits Solutions, Inc.
Unlike a number of insurance carriers that have recently announced they are exiting the health market as a result of the new provisions that were enacted on September 23, as part of health care reform, or the Affordable Care Act, that was signed into law in March, Pan-American Life has experienced growth as a result of the company’s portfolio of product offering in the Limited Benefits Medical area.
“We are expanding and enhancing our portfolio of products to provide customers with valuable and relevant benefits solutions,” said Carlo Mulvenna, Vice President, Group Domestic Markets. “Unlike many carriers, Pan-American Life is investing in expanding this plan, and enhancing our portfolio to continue providing customers valued benefits solutions.”
Pan-American Life Insurance Company’s Limited Benefit Plan, PanaMed, is a fixed-indemnity plan that pays scheduled benefits per covered events. Similar to other supplemental plans, it is exempt from the federal health care reform coverage requirements.
“Fixed-indemnity Limited Benefit Medical plans were introduced to the market in the late 1990s, and now many large corporations, as well as an increasing number of distribution partners, are recognizing the cost-effective alternative and the benefits these plans provide,” Mulvenna stated.
Pan-American Life’s Limited Benefit Medical plans are marketed by Pan-American Benefits Solutions, Inc., a member of the Pan-American Life Insurance Group.
About Pan-American Life
The Pan-American Life Insurance Group is a leading provider of insurance and financial services serving nearly half a million customers throughout the Americas. New Orleans-based Pan-American Life Insurance Company, the Group's flagship member, has been delivering trusted financial services since 1911, employing more than 700 worldwide, providing top-rated life and health insurance, worksite benefits and financial services in 47 states, the District of Columbia (DC) and Puerto Rico. The Group’s member companies offer individual and/or group life and health insurance throughout Latin America. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Panama, Puerto Rico, and the Cayman Islands. For more information, visit the Pan-American Life Web site at http://www.panamericanlife.com.
About Pan-American Benefits Solutions, Inc.
Pan-American Benefits Solutions is a provider of group benefit programs that offer employers affordable group health benefits in the United States. Our signature product, PanaMed, issued by Pan-American Life Insurance Company, features quality benefits, competitive pricing and the ability to customize offerings for a wide variety of industries including healthcare, hospitality, transportation, construction and agriculture, among others. As a member of the Pan-American Life Insurance Group, Pan-American Benefits Solutions draws on a heritage spanning nearly 100 years and the Group’s experience as a leading provider of insurance and financial services. For more information, visit the Pan-American Benefits Solutions Website at http://www.panamericanbenefits.com.
Enrique Monzon / Pan-American Life Insurance Company
Carolina Delgado / Pan-American Life Insurance Company
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