LegacyShield Solutions LLC and two life insurance companies affiliated with Sammons Financial Group Inc. have introduced new permanent life insurance products this week.
LegacyShield — a Jacksonville, Florida-based personal document storage company — has worked with the Savings Bank Mutual Life Insurance Company of Massachusetts to develop a LegacyLife permanent life insurance policy.
SBLI has already been encouraging its policyholders to use the LegacyShield online document storage system.
The new life insurance program will combine permanent life insurance that automatically comes with access to the LegacyShield Life’s Mission Control system, LegacyShield says.
The life insurance policy includes a guaranteed death benefit, guaranteed cash value, and a return-of-premium level term rider, LegacyShield says.
LegacyShield says SBLI will use a fast underwriting process to write the coverage.
The typical underwriting process should take about five days, LegacyShield says.
The Life’s Mission Control package will give the user the ability to create a will, powers of attorney, advance directives and HIPAA authorization forms.
The Sammons Units
Midland National Life Insurance Company — a Sammons unit based in West Des Moines, Iowa — has launched the Strategic Accumulator Indexed Universal Life insurance product.