NU Online News Service, April 25, 2005, 3:46 p.m. EDT
Protective Life Insurance Company, Birmingham, Ala., announced an agreement that it says would enable it to expand distribution of its annuity products significantly in banks and other financial institutions across the country.[@@]
Under the agreement, Protective Life grants Midwood Financial Services Inc., Encino, Calif., exclusive bank distribution rights to Protective Life’s indexed annuities and single-premium immediate annuities. The agreement also covers the distribution of bank annuities underwritten by West Coast Life Insurance Company, a Protective subsidiary.
Midwood provides training and wholesaling support to banks and other financial institutions ranging in size from small community banks to super regional banks.