NASHVILLE, Tenn., Aug. 19, 2014 /PRNewswire/ -- Affinion Benefits Group (ABG), the insurance division of Affinion Group and one of the nation's largest third-party administrators (TPA) of insurance services, and Mutual of Omaha, today released a graded benefit whole life insurance product that can be offered to members and customers of ABG's 3,500 credit union and financial institution partners.
Customers and members of these institutions will have access to a whole life insurance policy with fixed premiums and benefits. Policies are available regardless of health, with no required medical questions, exams, or tests. Applicants age 45-85 are eligible for up to $25,000, with flexible billing terms (monthly, quarterly, semiannual or annual). The policies issued also stay with the consumer regardless of their employment status (employed, unemployed or retired).
"We see an opportunity to expand the number of relationships we have with banks and credit unions, which in turn, extends our caring approach to insurance to a wider array of customers," said John O'Malley, National Director of Partnership Sales and Marketing for Mutual of Omaha. "ABG has extensive experience with these institutions, and can quickly expand our presence in this valuable channel."
ABG will leverage its industry leading marketing services to encourage customers to sign up for policies, and Mutual of Omaha will underwrite and service the policies.
"Mutual of Omaha has been trusted for more than 100 years, and their reputation is both exceptional and deserved," said Robert Dudacek, President of Insurance for Affinion Benefits Group. "We're proud that Mutual of Omaha is the latest customer-centric, highly rated carrier to partner with us as we add diversity to our product base."
For credit unions and banks, Affinion Benefits Group now offers graded whole life, accidental death & dismemberment, hospital accident protection and the recently launched Recuperative Care Plan, an accident and sickness insurance product.
About Mutual of Omaha
Mutual of Omaha is a full-service, multi-line organization providing insurance, banking, and financial products for individuals, businesses, and groups throughout the United States. For more information about Mutual of Omaha, visit www.mutualofomaha.com.
About Affinion Group
As a global leader with 40 years of experience, Affinion Group enhances the value of its partners' customer relationships by developing and marketing loyalty solutions. Leveraging its expertise in customer engagement, product development and targeted marketing, Affinion provides programs in subscription-based lifestyle services, personal protection, insurance and other areas to help generate increased customer loyalty and significant incremental revenue for more than 5,670 marketing partners worldwide, including many of the largest and most respected companies in financial services, retail, travel, and Internet commerce. Based in Stamford, Conn., the Company has approximately 3,925 employees and has marketing capabilities in 20 countries globally. For more information, visit www.affinion.com.
SOURCE Affinion Group