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UICI Acquires Stake In LTC Agency

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NU Online News Service, Jan. 29, 11:38 a.m. – UICI, Dallas, has acquired a 50% stake in SeniorsFirst, Dallas, a career agency that sells Medicare supplement and long-term care insurance products.

The agency was founded in 1998 and now operates in nine states in the Southwest and Midwest. It wrote more than $8 million in new business in 2001, according to company figures.

UICI hopes to use SeniorsFirst to sell LTC insurance products that will be issued by another UICI subsidiary, Mid-West National Life Insurance Company of Tennesee.

UICI recently hired CHCS Services Inc., a unit of Universal American Financial Corp., Rye Brook, N.Y., to underwrite and administer the Mid-West National LTC policies.

UICI is best known for developing health insurance programs and other insurance programs for students.

In addition to the 50% stake UICI owns in SeniorsFirst, it owns the UGA-Association Field Services and Cornerstone Marketing of America insurance agencies, and a 48% stake in HealthAxis Inc., a company that develops Web-based health insurance sales systems.