LifeSecure Insurance Company says it will be reinsuring much of the long term care insurance business written by American Fidelity Assurance Company.
LifeSecure, Brighton, Mich., will end up with about $12 million in additional annual premium revenue, the company says.
LifeSecure is an LTC insurance subsidiary of Blue Cross Blue Shield of Michigan.
LifeSecure would reinsure current sales of American Fidelity-branded LTC insurance issued through the education channel.
LifeSecure and American Fidelity, Oklahoma City, eventually will make LifeSecure's flexible LTC insurance coverage available through American Fidelity's worksite distribution channels, LifeSecure says.
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