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Life Health > Life Insurance > Term Insurance

Roundup: MetLife re-launches retail term insurance

By Lynette Gil

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MetLife re-launches retail term insurance

MetLife announced that it is reducing rates on its Guaranteed Level Term product as part of the company’s efforts to enhance its life insurance portfolio. Guaranteed Level Term is a fully underwritten policy and clients who purchase it will have the opportunity to convert to any of MetLife’s permanent policies at a later date.   

“MetLife is committed to ensuring that consumers have access to the life insurance coverage they need,” said Gene Lunman, senior vice president of retail life and disability insurance products at MetLife.  For current rates and more information on MetLife’s Guaranteed Level Term, please contact your local financial services representative.

First Rehab Life changes name to ShelterPoint Life

The First Rehabilitation Life Insurance Company of America (First Rehab Life) changed its name to ShelterPoint Life Insurance Company and is hereby ringing in a new chapter in the company’s history.

Ownership and management of the company remain unchanged. The company has grown to become the largest writer of New York State Statutory Disability Insurance (DBL) with currently over $70 million in covered premium and over 150,000 covered employers for this line of business alone, all of which was sold by independent insurance agents and brokers. Now, as ShelterPoint Life, the company is looking to expand nationally through its newly acquired subsidiary, develop new products in the context of a changing health insurance environment, and continue to increase web-based capabilities that empower their producers, policyholders, and members alike.

“As we have evolved over our 42-year history, it is time to go with a name that is more reflective of who we are and what we do. We chose a name that expresses our mission of offering benefits that are simple, to the point, and which embrace our commitment to shelter our clients. At the same time, we are growing. It’s a very exciting time since we just acquired an insurance company that is licensed in 48 states; so, we were looking for a name that illustrates our next chapter and will give us a nationwide identity,” says Richard White, CEO of ShelterPoint.

Former LPL Technology executive named COO of Global Retirement Partners

Global Retirement Partners (GRP), a retirement plan consulting firm, announced the appointment of financial industry veteran Christopher Giles as chief operating officer.  Giles will be responsible for defining and executing strategic programs aimed at increasing the value delivered to clients, empowering plan participants, and significantly broadening the retirement plan offerings for advisors.

Giles has more than 20 years’ experience in the industry, having previously held roles at LPL Financial, Ameriprise Financial, and American Express Financial Advisors.  Previously, he was vice president, Advisor Facing Solutions at Ameriprise Financial in Minneapolis, MN, where he managed an annual profit and loss unit in excess of $100M, delivered new software-as-a-service technology systems, and maintained all necessary facets of over 100 advisor applications.  He also held the role of vice president, Business Solutions Group, where he led a team that covered areas of business strategy, technical design, user experience design, marketing/communications, operations, and offshore contractors.

Giles has a Bachelor of Science in business management and marketing from Cornell University in Ithaca, NY.

Great-West Financial builds team to serve financial institutions channel

Great-West Financial® has appointed Jeff Arneson as its newest wholesaler for its financial institutions markets. Arneson will work with financial institutions and their financial advisors in the sale of Great-West Financial annuity and life insurance products to individuals in Ohio and West Virginia.

Before joining Great-West Financial, Arneson spent more than 10 years with AIG Life and Retirement as an external wholesaler and regional vice president. He earned a bachelor’s degree in accounting from Colorado State University and holds FINRA series 6, 63 and life and health insurance licenses.

Mercer announces senior hires to support growing client needs in the Midwest

Mercer has announced four senior additions to its Midwest health & benefits business in response to growing client needs in the region.

  • Jeff Smith, formerly with AonHewitt, has joined Mercer as a principal and senior health & benefits consultant based in Chicago. In this role, he will consult to large employers on strategies to manage health care costs, to achieve improved employee health and productivity, and to capitalize on emerging changes in the employer-sponsored health care arena.
  • Tyler Harshey, most recently with Aetna, has rejoined Mercer’s consulting team in Chicago as a principal and lead actuary for the Mercer Marketplace Group Active Exchange solution in North America. In this position, he will provide actuarial support and analysis for potential and current Mercer Marketplace clients.
  • Matthew Rehmann, previously with Integrated Health Systems, has been named the Midwest exchange sales leader, based in Milwaukee and Chicago. In this role, he will be responsible for implementing the client development strategy for Mercer Marketplace in the Midwest.
  • Rey Balcazar, a principal in Mercer’s Employee Health & Benefits practice in Indianapolis, has assumed the role of Midwest exchange solution leader. His responsibilities now include subject matter expertise, market education, sales pursuit support, contracting and ongoing client engagement for Mercer Marketplace in the Midwest.

Ernest McNeill Jr. joins The Phoenix Companies, Inc. as senior vice president and chief accounting officer

The Phoenix Companies, Inc. (NYSE:PNX) announced that its board of directors appointed Ernest McNeill Jr., CPA, CFA, as senior vice president and chief accounting officer. He will join the company on Aug. 25, 2014.

McNeill will manage a number of corporate finance functions including GAAP accounting, expense management, statutory accounting, accounting operations, corporate tax and investment accounting. 

McNeill most recently served as senior vice president, corporate accounting, for the financial services businesses of Fidelity Investments. Previously, he held various senior finance roles at The Hartford Financial Services Group including serving as chief accounting officer, Hartford Life, Inc., and as vice president and director, The Hartford Investment Management Company. Earlier in his career he was chief financial officer and assistant treasurer at Connecticut’s Office of the State Treasurer, vice president and controller at Advest Bank and an audit manager at Coopers & Lybrand.

Mr. McNeill holds a bachelor’s degree in accounting and a master’s of business administration in finance from the University of Connecticut.  He is a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA).

Tom McDonald appointed regional sales manager, corporate life & pensions, for Zurich Global Life North America

Zurich announced the appointment of Tom McDonald as regional sales manager, corporate life & pensions, for Zurich Global Life North America. In this role, McDonald is responsible for promoting corporate life & pensions products and services to the broker and employee benefits consultant market in the Midwest region. He is responsible for the sales of a broad and differentiated suite of employee benefit coverages and support Zurich’s targeted growth of solutions, including domestic and globally mobile benefits programs as well as captive reinsured domestic U.S. propositions.

Prior to accepting this position, he was at Plus Financial Network, where he oversaw the sales of life and disability products through an independent brokerage network. Prior to that, McDonald spent his career at AIG and MetLife, where he focused on group employee benefits sales for both domestic and globally mobile employees.

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