The More Things Change......The More
They Remain the Same
In this case, it may be the more
things change, the more things change!
If you have been around the life
business for a while, you will remember Zurich Kemper as a player in the term
insurance space back in the early 2000's.
The US operation was sold and changed hands a number of times,
eventually ending up as part of Protective Life, where it resides today.
In the intervening years the
Zurich name, while absent from the American market as part of the sale of the
U.S. operation, has been alive and well internationally. That is all about to change. Zurich has re-entered the U.S. life insurance
market, and they are playing for keeps.
Why do you care? This is a much
different company than the one we all remember.
How? Take a look at this:
-
No term products
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$20 mil of internal retention
-
$12 mil for professional
athletes without consideration of total line on the team
-
A commitment to the foreign
national market
-
Current assumption UL available
today
-
GUL and EIUL in development
-
Generous transition rules if you
want to move from the current assumption to guaranteed product once it is
available
-
Only 25 distributors nationwide
Of course, Cavalier Associates
is one of these distributors, so we all now have access to another carrier in
the older age affluent marketplace. This
is a huge breath of fresh air considering all of the carriers who have exited
this market either by increase pricing or shelving their products.
At this point the new Zurich is
very much in the early stages, but they are open for business, and anxious to
take a look at our cases. If you have
worked on a case that needed another five or ten million that did not get done
because of capacity issues we need to talk.
Great opportunity to squeeze out another case before the year ends.
Get out and have a great weekend!
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