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WINDSOR, Conn., October 20, 2009 » Vantis Life Insurance Company announced today that new recurring life insurance premium through September increased by 16% over the same period in 2008. The Company anticipates achieving 20% year over year growth by the end of 2009. Vantis Life also saw positive results in their Single Premium Whole Life product, with new premium increasing by 21% versus the same period of 2008.
»Even in this challenging economic environment, our company continues to grow new life insurance business,» notes Craig Simms, Senior Vice President of Vantis Life. »Vantis Life»s proven niche strategy, focused on helping middle income families get the protection they need through their financial institution, is affirmed by this growth. Our financial institution program managers and Vantis Life»s inside and outside wholesaling support have driven these impressive numbers.»
Mr. Simms said that 90 banks and credit unions produced new business through September, versus 77 during the same period of 2008.
Part of Vantis Life»s success, according to Simms, is due to the company»s multi-product internet-based quote and e-application platform. Rating agency A.M. Best noted that »Vantis Life is the only bank distribution-focused life insurer that offers a full selection of easy-to-sell simplified issue and fully underwritten products from a web-based platform. Vantis Life's "Agent-Web" quotation and e-application system, which is utilized by all Vantis Life's partners, enables straight-through processing from illustration through application and underwriting decisions.»
Vantis Life is focused solely on providing financial institutions and their customers with a variety of life insurance and annuity products. These products are offered by licensed agents via an award-winning online process. This process is supported by best-in-class wholesaling and access to Vantis University, the Company»s exclusive online, Webex, and in-person training and development resource.
About Vantis Life Insurance Company
Vantis Life Insurance Company was established in 1942. From its inception, the company's primary goal has been to provide families with affordable life insurance and annuity products available through their financial institution. Vantis Life has more than $4.7 billion of life insurance in force and a rating of A- Excellent from A.M. Best. Sales and marketing information is available at 1-866-826-8471 or www.vantislife.com.