Vantis Life Insurance Company is offering policy holders and applicants more flexibility following the disruption caused by Hurricane Sandy.
The company will extend the time policyholders have to make premium payments, will allow the underwriting of cases to continue past their traditional withdrawal date and will not penalize new customers who have checks or electronic funds transfer payments returned for insufficient funds. Notices of these changes will be posted on the company’s web site. These provisions will be in effect through November 30, 2012, but will be reviewed at that time for potential extension.
In other industry news:
The National Association for Fixed Annuities recognized Wendy Waugaman, the late president and CEO of American Equity Investment Life Holding Company, as the inaugural recipient of the Bo Johnson Spirit Award for Lifetime Achievement.
Marla Lacey, the chief compliance officer and associate general counsel of American Equity, was also a close friend and colleague of Waugaman, accepted the award on Waugaman’s behalf.
“Wendy was a true visionary and dedicated her corporate career to the advancement of fixed annuity products,” Lacey said. “Without her courage, leadership and strategic direction in the battle to repeal SEC Rule 151A, our industry would have been forever changed. Wendy worked tirelessly to establish best practices and believed deeply in the value of our products for consumers. Her untimely death has left a great void in our business and she is and will continue to be greatly missed.”
NAFA’s Insurance Marketing Advisory Council committee named the award in honor of Bo Johnson—a member of NAFA and its board for several years, and was the original chair of IMAC.
Futurity First Insurance Group appointed Dennis E. Pascarella, ChFC, as sales vice president of the firm’s Eastern Region. In this position, Pascarella is responsible for supporting the growth and development of Futurity First’s branch network overseeing operations east of the Mississippi River.
Pascarella comes to Futurity First with 26 years of experience in the insurance and financial industry, including leadership positions which resulted in developing successful sales organizations dedicated to client service and advisor professional excellence. He has deep expertise in diversified financial products and services including life insurance, annuities, financial planning and pension programs. Most recently, Pascarella served as CEO of Financial Legacy Group in Cincinnati, building a top financial services firm serving Ohio, Kentucky and Indiana.
In his career, Pascarella has led large organizations at AXA, National Life of Vermont and Unifi. He also devotes time to community service with such groups as the Make-A-Wish Foundation, Ronald McDonald House, and Boys and Girls Club and is an active the local Chamber of Commerce and the local chapters of the National Association of Insurance and Financial Advisors Association (NAIFA) and the Society of Financial Services Professionals (SFSP).
Peng Chen, Ph.D., CFA, chief executive officer of Dimensional Fund Advisors’ Asia subsidiaries and chairman of Dimensional SmartNest, has been appointed the academic curriculum director of the Retirement Management Analyst (RMA) advanced education program, of the Retirement Income Industry Association (RIIA).