This much anticipated product is truly one of a kind by offering our customers an opportunity to purchase permanent universal life insurance through their agent while receiving an immediate underwriting determination at the point of sale.
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Austin, TX (PRWEB) January 21, 2014
Madison National Life Insurance Company, Inc. announces the launch of an innovative new simplified issue universal life insurance product. Target 125, which hits the marketplace today, comes in response to customer and distribution demand for a quick issue and no-hassle approach to universal life insurance. Announcement of Target 125 comes on the heels of a company-wide initiative to increase its focus on organic life insurance sales.
IHC Financial Group, a wholly owned subsidiary of Madison National Life will be among the key organizations distributing and marketing Target 125. Federal employees, active military members, select individuals and small groups will find quick, affordable coverage with Target 125.
The development and launch of Target 125 has been carefully crafted to respond to consumer trends and the anticipation of rising interest rates. The product offers a competitive fixed rate of return on the accumulated account value, specifically a 4% guaranteed first year interest rate with a 3% lifetime guarantee. Prospective applicants of all allowable ages can rest easy with a 15 year no lapse guarantee option, in which the policy is guaranteed to remain in force regardless of the cash value.
In response to the field’s growing demand for immediate underwriting, the Target 125 sale will provide an eligibility decision at the point of sale through a quick phone interview. Distribution partners may enhance the sale and increase product offerings through additional benefits to the policy, including an Accidental Death Benefit Rider, Spouse Term Insurance Rider, Child Term Insurance Rider and Disability Waiver of Deduction Rider.
"We are anxious to bring Target 125 to Market in early 2014. This much anticipated product is truly one of a kind by offering our customers an opportunity to purchase permanent universal life insurance through their agent while receiving an immediate underwriting determination at the point of sale. This product has many uses from simply offering added protection, to a life-long plan to an insurance planning vehicle for pension maximization, estate taxes and wealth transfer," says Brian Pearson, Vice President, Director of Agencies at Madison National Life, which is a part of The IHC Group.
Over the last two decades, Madison National Life has been entrenched in the federal marketplace, offering solutions and cost effective alternatives to existing government plans. Federal market distribution partners will feel an influx of new opportunities with Target 125 added to its portfolio.
For questions about marketing and distributing this new product, please contact Madison National Life’s Marketing Department at 1-800-356-9601 ext 2811 or email marketing (at) madisonlife (dot) com.
MNL was founded in 1961, and is headquartered in Madison Wisconsin, with operations in Austin, Texas. The Company is licensed in 49 states, American Samoa, the District of Columbia, Guam, and the Virgin Islands, and is an authorized reinsurer in the State of New York. Madison National Life is rated A-(Excellent), for financial strength, by A.M. Best, a widely recognized rating agency that rates insurance companies on their relative financial strength and ability to meet their obligation to their insureds (An A++ rating from A.M. Best is its highest rating). Madison National Life is involved in several lines of life, health and disability business including:
- Group Term Life, Short-Term Disability and Long-Term Disability for both public and private sector employers across the country.
- Employer Medical Stop-Loss distributed nationally through independent managing general underwriters; and
- Military and Civilian Government Employee Life, Health and Annuity products distributed on a national basis.
*Madison National Life is not connected with or endorsed by the U.S. Government.