Spotlight

Indexed Products

Equity-indexed life insurance sales last year totaled $185.7 million, a 50% increase over 2004 and double the sales of 2003, according to Sheryl Moore, president of Advantage Group Associates. At year-end, 20 carriers offered the product, up from only 12 early last year. Among companies new to the business are Midland National Life, Pacific Life, National Life of Vermont, National Western Life and Western Reserve Life. AmerUs led the market in 2005 sales with $94.1 million, a 51.6% market share, according to research and consulting firm Advantage Compendium.

see “Equity Indexed Life Premium”

Property/Casualty

New Version of All-Risk Policy

Affiliated FM, which specializes in commercial property insurance for the middle market and loss-prevention services, has released an enhanced version of its all-risk policy, proVision. Key enhancements include a combined business-interruption/extra expense form and unlimited coverage for debris removal, electronic data-processing equipment, computer virus, demolition and higher construction costs. They also include embedded coverage for boiler and machinery; flood; earth movement; fungus, mold or mildew; and comprehensive coverage for underground property and foundations. Affiliated is a member of the FM Global Group.

Life

LTC Policy Has Dual-Pool Effect

Securian Financial Group has launched LTC Guard, a long-term-care insurance product available through Minnesota Life that offers a benefit pool for home care and another for assisted-living or nursing-home care. The home-care pool reimburses for actual expenses, while the other pool pays a full daily amount regardless of expenses actually incurred. Premium payments may be for a lifetime, for 10 years or for 20 years. Joint-life premium discounts are available.

Annuity Offers Medical Option

A new immediate annuity from Protective Life, Protective ProPayer Income Annuity, offers prospects the option of medical underwriting. The option would enable people who have certain medical conditions, including a history of heart attacks, strokes or Alzheimer’s disease, to apply for special medical underwriting, which might result in higher annuity payments or lower purchase payments than would ordinarily be available. Most immediate annuities use average life expectancies. Other options allow for access to some of their purchase payment and for annually increasing payments.

Health

Golden Rule Sells Short-Term Policy

Golden Rule Insurance Co., a UnitedHealthcare company, has launched Short Term Medical, its latest plan to fill in gaps in coverage for individuals and families in times of transition and change. Buyers may choose from one to six months of coverage and from a range of deductibles and payment options. They may drop their plan at any time without penalty or apply for another one to six months of coverage. UnitedHealthcare’s national network of health-care professionals and facilities provides discounts on medical services.

Snapshot

see “Why Consumers Put Annuities Into Qualified Plans”

Learn More

Affiliated FM Insurance Co.

A.M. Best Company # 00103

Distribution: Brokers, direct

Minnesota Life Insurance Co.

A.M. Best Company # 06724

Distribution: General agents, financial institutions, credit unions, brokers, benefits consultants

Protective Life Insurance Co.

A.M. Best Company # 06962

Distribution: Independent agents, broker/dealers, direct

Golden Rule Insurance Co.

A.M. Best Company # 06263

Distribution: Brokers, general agents, direct, other

For ratings and other financial strength information about these companies, visit www.ambest.com.

By Ron Panko, senior associate editor, Best’s Review: Ronald.Panko@ambest.com