NU Online News Service, Aug. 16, 2004, 5:03 p.m. EDT

Progeny Marketing Innovations Inc., Nashville, Tenn., is introducing a guaranteed-issue hospital income plan insurance policy.[@@]

The policy will pay cash directly to policyholders who end up in the hospital or the emergency room as a result of automobile accidents, falls, heart attacks, strokes, pneumonia, cancer or other accidents or illnesses.

The policy will pay insureds up to $100 per day for hospital or emergency room stays. The initial premium will be about $10 per month.

Progeny will market the program to financial institution customers through a direct-mail campaign.

Hartford Life Insurance and Accident Company, a unit of Hartford Financial Services Group Inc., Hartford, is underwriting the policy.