In an effort to expand the presence of their guaranteed, fixed interest products across the country, The State Life Insurance Co., a OneAmerica company, rolled out a distribution strategy that includes banks. The strategy is aimed at helping the nation’s banks offer State Life’s asset-based long-term care solutions portfolio.
“Banks are putting a tremendous effort behind offering protection products to their customers and providing comprehensive financial packages,” says State Life EVP Chris Coudret. “Banks also are looking for additional revenue streams outside of traditional banking products as a means of providing convenience and greater piece of mind to their customers. State Life is pleased to be working with banks to offer such options.”
State Life’s product portfolio makes a solution available for nearly every stage of the senior life cycle, the company says. In addition to providing care solutions, banks offer multiple funding opportunities, including cash, CDs, money markets and IRAs.
To further support the bank distribution channel, State Life external wholesalers will be assigned territories to accommodate producers focusing on the bank distribution channel. State Life products offered in banks are the same that State Life offers through its network of independent producers and agreements.
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