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Massachusetts Insurer Aims At Nutmeg State

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The Savings Bank Life Insurance Company of Massachusetts says it has started operating under the name of Centrian Life Insurance in Connecticut.

SBLI of Massachusetts, Woburn, Mass., says it stayed out of Connecticut for many years partly because another insurer does business in Connecticut under a similar name, the Savings Bank Life Insurance Company, East Hartford, Conn.,

VantisLife Insurance Company, the parent of the East Hartford SBLI, has a similar name to SBLI of Massachusetts but has no connection past or current ties to SBLI of Massachusetts, according to SBLI of Massachusetts.

SBLI of Massachusetts, which has had a license to do business in Connecticut for 6 years and has 5,000 customers there, says it will be launching an aggressive newspaper advertising campaign to promote the Centrian name in Connecticut. SBLI of Massachusetts also will send direct mail to 100,000 Connecticut homes to promote Centrian coverage.

Centrian will be selling term life insurance, guaranteed level-premium life, yearly renewable life and whole life insurance in Connecticut, according to SBLI of Massachusetts.

Centrian also will sell annuities and policies for children, the company says.