Southwestern Starts Final Expense Life Distributor
The company launched an agency that sells traditional life in 2018.
Southwestern Family of Companies has started Southwestern Legacy Insurance Group, a final expense insurance distributor.
The new unit sells small life insurance policies aimed at older customers of modest means.
(Related: Life Insurers Must Compete Harder With ‘Passing the Hat’: Prudential)
Southwestern is a Nashville, Tennessee-based company that started out in 1855 as Southwestern Publishing House.
Today, it owns Southwestern Investment Group, a Raymond James Financial affiliate founded in 2002, and Southwestern Insurance Group, a multiline agency founded in June 2018. Southwestern Insurance sells term life, whole life and annuities as well as products like auto insurance and homeowners insurance.
From 1989 to 2012, Southwestern owned Family Heritage Life Insurance Company of America, a supplemental insurance issuer. Southwestern sold that unit to Torchmark, which is now Globe Life, in 2012.
The new arm, Southwestern Legacy, is marketing final expense life products from CVS Health, Great Western Insurance Company and Integrity Marketing’s Legacy Safeguard.
The company is keenly interested in working with agents, and it has a “Become an agent” link at the top of its website.
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