Urbana, MD, March 17, 2015 – According to LIMRA and other industry studies, even those who have made the intelligent and responsible choice to purchase life insurance often purchase too little. This coverage gap can be nearly as devastating to families and businesses as having no coverage at all.
Legal & General America (LGA) now offers increased coverage to applicants who have been identified by the underwriter as eligible for the larger face amounts. Increased coverage increments are based on the difference between the face amount for which the customer applied and the face amount maximum for the GET MORE opportunity. LGA gives brokers at least one alternative to offer the customer, but in some cases as many as five. The customer can, however, choose any amount that doesn't exceed the maximum. LGA provides brokers with the premium for each of the respective offers.
Results to date say the program has been well received. Since inception, GET MORE offers have resulted in a 8% increase in face amount on eligible policies. The upsell opportunity is open to all contracted brokerage agencies who opt in for participation.
For more information contact:
Megan Morris, Creative Services Specialist
301.810.4557, memorris@LGAmerica.com
Legal & General America life insurance products are issued by Banner Life Insurance Company, Urbana, MD and William Penn Life Insurance Company of New York, Garden City, NY. Banner is licensed to do business in 49 states and the District of Columbia. William Penn does business exclusively in New York; Banner does not solicit business there.
