LAKE FOREST, Ill. – Trustmark Life Insurance Company of New York, an affiliate company of Trustmark Insurance Company, announces its series of worksite Universal Life insurance products, including Universal LifeEvents® and Guaranteed Universal Life, is now available in New York.
“Having our Universal Life Insurance series available to employees in New York means our flagship product is now sold and supported in all 50 states,” said Dave Cirulis, Vice President of Sales and Marketing. “Offering life insurance in the great State of New York will impact our voluntary benefit sales nationwide.”
Trustmark’s flagship Universal Life series provides Living Benefits for Long Term Care. Trustmark’s Guaranteed UL plan design combines the flexibility of universal life with the lifetime guarantees of whole life. Completing the series is Universal LifeEvents, another unique plan that pays a higher death benefit during the working years, when expenses are high. During the retirement years, it continues to provide higher living benefits for Long Term Care. With these innovative products, Trustmark addresses the changing needs of employees in today’s voluntary life and long-term care market.
“Trustmark’s voluntary benefits sales had a record year in 2009, and now that we offer life insurance through Trustmark Life Insurance Company of New York, we have opened the door for growth even farther,” said Alex Moral, Trustmark’s Senior Vice President. “Enhancing our national presence is exciting; however, most important is our ability to help residents of New York protect themselves and their families. Today, Americans are living longer than ever before. They not only want to protect their family finances with life insurance coverage during their working years, but also don’t want to burden loved ones with long term care needs later in their life.”
“Trustmark’s Universal LifeEvents is groundbreaking,” said Janet Buzil, Trustmark’s Second Vice President of Marketing and Product Management. “The plan offers a 35-year-old a nearly 50 percent higher death benefit during the working years than traditional universal life. Long Term Care benefits continue through retirement to address that unmet need.”
Buzil added that she also anticipates a great deal of interest in Trustmark’s Guaranteed Universal Life. “Consumers like the guarantees whole life provides, such as level premiums, level death benefits, guaranteed cash values and endowment,” said Buzil. “However, if insureds want to change their whole life policy in any way or want long term care coverage, they have to purchase an additional policy, accompanied by additional fees. With Guaranteed Universal Life, insureds need only obtain one policy.”
All three life insurance plans offer Living Benefits to pay for long term care, a benefit increasingly in demand in today’s marketplace. The series will be available for June 2010 enrollments.
About Trustmark Life Insurance Company of New York
Trustmark Life Insurance Company of New York is an affiliated company of Trustmark Insurance Company. Trustmark Insurance Company has been serving the insurance market for nearly a century, specializing in voluntary benefits, including Life, Critical Illness, Disability, and Accident. All plans are underwritten by Trustmark Insurance Company, a Trustmark Company. Through its subsidiaries and operating divisions, the Trustmark Companies offer a full line of health, life, and benefit administration products and services to groups and individuals. The success of each Trustmark Company is based on building and maintaining trust through personal, responsive service and flexible benefit solutions. Trustmark is based in Lake Forest, Illinois. To learn more, visit trustmarksolutions.com.