Marsh & McLennan Acquires Rosenfeld Einstein

The final expense whole life insurance products from Settlers Life Insurance Company, Bristol, Va., are now available in seven new states: Arkansas, Kansas, Missouri, Nebraska, New Jersey, New Mexico and Oklahoma.

The addition of these seven states increases Settlers Life’s marketplace to 36 states.

“We now cover the heartland of America and all of the Southeast,” said Michael Lowe, president of Settlers Life. “Only New England and the Pacific Coast remain outside our marketplace.” Settlers Life is now recruiting agents in these seven states.

Flexible Benefit Service Corporation, Rosemont, Ill., has launched a private health insurance exchange InsureXSolutions. The private exchange promotes a defined contribution funding model that gives uninsured employers a way to set their own budget and assist employees with health care expenses. The InsureXSolutions online platform provides an insurance marketplace where employees can shop, compare and apply for insurance plans that fit their personal needs.

Available in select markets, employers allocate a fixed amount of funds for each employee. Employees can then login to the InsureXSolutions online portal for access to online quoting and comparison resources for individual and family insurance plans from various national and regional insurance companies. Once employees find the right plan, they use the online marketplace to directly apply for heath insurance, Medicare, short-term insurance and/or vision insurance.

Aviva USA, West Des Moines, Iowa, has introduced a new life insurance rider that provides increased flexibility to customers purchasing select indexed universal life policies. The Aviva Accelerated Access rider allows customers who are diagnosed with a chronic illness quick access to funds from the policy’s death benefit.

With the Accelerated Access rider, a customer certified as chronically ill by his or her physician and who meets all eligibility requirements may access a majority of the life insurance policy’s death benefit, generally on a tax-free basis. The proceeds can be used by the policyholder to help pay for costs incurred in living with their condition – including nursing home costs, family care, assisted living, adult daycare, home health care or toward their mortgage.

“Our new rider differs from Long-Term Care insurance in that it can be more affordable and flexible, and provide a death benefit while helping to meet the costs associated with the care a customer may need,” said Chris Jones, Aviva USA chief marketing officer. “This takes a burden off an individual with a critical health issue.”