Hancock Partners with Farm Bureau Life Insurance Company and SIA
Marketing to Provide Long-Term Care Insurance
Farm Bureau Life to offer Hancock long-term care insurance products
BOSTON, June 17 /PRNewswire-FirstCall/ -- John Hancock Life Insurance Company
today announced a partnership with Farm Bureau Life Insurance Company, enabling
its agents to offer John Hancock's long-term care insurance products, Essential
Care II and Custom Care II. SIA Marketing will provide marketing support to
Farm Bureau Life's sales force.
"We're very pleased that Farm Bureau Life Insurance will be offering our
long-term care insurance products, and that SIA Marketing will be supporting
them," said Joe Catalano, senior vice president, John Hancock Long-Term Care
Insurance Distribution. "Farm Bureau Life's sales force, SIA Marketing's
support and our products make a winning combination that should add to the
success of all our businesses." Headquartered in West Des Moines, Iowa, Farm Bureau Life's agency force is
comprised of nearly 2,000 agents who serve individual and small business
clients throughout a 15-state area.
"We are delighted about the opportunities this partnership creates for our
agents, our clients and our company," says JoAnn Rumelhart, executive vice
president of Farm Bureau Life. "The John Hancock/SIA Marketing model is
proven, and offers a menu of competitive and flexible alternatives that we're
excited to take to market." As part of the deal, marketing support will be provided by SIA Marketing, a
leading provider of insurance services, with which Hancock has a marketing
agreement. Known for its speed, technology, and service, SIA will provide
accelerated application processing and custom web-based administration together
with product training and support.
"The American family's need for affordable long-term care insurance has never
been greater," said Gene G. Schmidt, president of SIA Marketing. "Our
25-year-old company is proud to be a part of meeting this need through our
partnership with Farm Bureau Life and John Hancock." Hancock's products, Essential Care II and Custom Care II, cover the spectrum of
consumer long-term care insurance needs. Essential Care provides solid
long-term care protection without added costs associated with specialized
features. Custom Care II includes more benefits that allow the insured to
tailor a comprehensive policy. This policy offers the optional FamilyCare
Benefit, which allows up to four family members to be covered under one policy.
About John Hancock John Hancock entered the long-term care insurance business in 1987 and today is
one of the nation's largest providers of long-term care insurance. The company
is known as a producer of innovative long-term care insurance policies and
benefits, and distributes them through agents, broker dealers, banks, direct
brokerages and special partnerships.
John Hancock Financial Services, Inc., a subsidiary of Manulife Financial
Corporation, is one of the largest insurance companies in the United States. Founded in 1862, the company today offers a broad range of financial products
and services, including whole, term, variable, and universal life insurance, as
well as college savings products, fixed and variable annuities, long-term care
insurance, mutual funds and various forms of business insurance.
Manulife Financial is the fifth largest life insurer in the world, and the
second largest in North America, based on market capitalization as of April 27,
2004. Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide. Pro
forma funds under management by Manulife Financial and its subsidiaries,
including John Hancock, were US$271.6 billion (Cdn$355.9 billion) as of March
31, 2004.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and
under '0945' on the SEHK.
About Farm Bureau Life Insurance Company Established in 1944, Farm Bureau Life Insurance Company is a primary operating
subsidiary of FBL Financial Group, Inc., a West Des Moines, Iowa- based
financial services holding company (NYSE:FFG). Farm Bureau Life markets,
underwrites, and distributes life insurance and annuities to individuals and
small businesses throughout a 15-state territory under the Farm Bureau
Financial Services brand.
About SIA Marketing Since 1979 as Schmidt Insurance Agency, and 1986 as SIA Marketing, SIA has
pioneered the administrative and brokerage development of the long term care
insurance market via breakthrough agent services, focus-driven production and
LTCI-specific technology.
SIA's underwriting success is built on an accelerated application processing
system that combines document imaging with agent communications to expedite
error correction. Commission pay and policy issue time is typically reduced by
7-10 days. Agent-friendly internet services include: a 2-minute supply
ordering system, app tracking with status reports, a quote bank, and group LTCI
website templates.
SIA provides outsourcing services to LTCI companies in the form of knowledge
management, electronic app pre-qualification, print design, print management,
and supply/inventory control.
Long Term Care Insurance is underwritten by John Hancock Life Insurance
Company, Boston, MA 02117 CONTACT:
Melissa Simon
617-572-6390
DATASOURCE: John Hancock Life Insurance Company CONTACT: Melissa Simon of John Hancock, +1-617-572-6390 Web site: http://www.jhancock.com/
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