“Our focus on helping more Americans get the protection they need through his or her financial institution has proven to be a unique business model.”
Windsor, Conn. (PRWEB) January 15, 2014
Vantis Life Insurance Company today announced that new recurring life insurance premium grew by 38% in 2013. This marks the fifth consecutive year of double digit growth for the company. Vantis Life offers life insurance products through banks, credit unions and select independent marketing organizations (IMOs) nationwide.
“Our focus on helping more Americans get the protection they need through his or her financial institution has proven to be a unique business model.” said Peter Tedone, President and CEO at Vantis Life. “Vantis Life has become the company that banks and credit unions count on when they want to more effectively offer life insurance protection to their customers and members. Our products, technology, wholesaling and marketing support have been honed over 72 years to help institutions more effectively provide this service to their customers.”
Craig Simms, Vantis Life’s Senior Vice President of Marketing elaborated, “Middle income households continue to be underserved and underinsured. We help financial institutions meet the specific and unique protection needs of this demographic. Our attentive wholesaling and training, simple-to-sell product line and best in class agent-facing technology are helping to fuel our growth.”
Premium increases have come from banks with assets from $2 billion to $122 billion, including best-in-class regional and “super-regional” banks such as M&T Bank, People’s United Bank and Astoria Federal, among others.
“We continue to add more partner banks throughout our national footprint,” said Simms. “We have seen new life insurance premium volume increase significantly from larger banks and mid-sized banks, especially those who have made a commitment to build a “culture of protection” within the institution.”
Income from IMOs has also grown significantly in the past few years and now comprises nearly one third of all new premium.
Vantis Life is focused on providing financial institutions and their customers with a variety of life insurance and annuity products offered by licensed bankers and financial advisors. These bankers use an award-winning online process and are supported by best-in-class wholesaling, marketing and training.
This includes having access to Vantis University, the company’s exclusive online, WebEx and in-person training and development resource. Vantis Life also offers referral-only programs, web-based marketing and other methods that banks and credit unions can use to offer life insurance even if they choose not to sell via their own employees.
About Vantis Life
Vantis Life Insurance Company was established in 1942. From its inception, the company’s primary goal has been to provide families with affordable life insurance and annuity products available through their financial institution. With more than $5.1 billion of life insurance in force, $900 million of assets and a rating of A-Excellent from A.M. Best, Vantis Life prides itself on providing A Better Life Experience for financial institutions and their customers. Sales and marketing information is available at 1-866-826-8471 or http://www.vantislife.com/able.