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Insphere Insurance Solutions® Adds Supplement and Life Insurance Plans from United American to Product Portfolio
Insphere Insurance Solutions now Marketing United American’s Medicare Supplement and Life Insurance Plans
DALLAS/FORT WORTH – September 13, 2011 – Insphere Insurance Solutions (http://www.insphereis.com) has announced a marketing agreement with United American Insurance Company (http://www.unitedamerican.com) for its ProCare® Medicare Supplement insurance plans, Reserve Fund Annuity with 3% guaranteed interest, and Fundamental Life SeriesTM life insurance plans.
“Insphere Insurance Solutions is pleased to offer these United American plans to our clients to better meet their range of insurance needs,” said Ken Fasola, president and chief executive officer for Insphere. “By expanding our portfolio to include United American’s Medicare Supplement insurance plans, our agents can now offer a choice of carriers and also provide clients with a life insurance plan that helps cover their final expenses.”
United American’s ProCare® Medicare Supplement insurance plans help pay the out-of-pocket costs that Medicare does not pay and are available, through Insphere agents, in all states except MA, MN, NH, NJ and NY The product suite includes A, B, C, D, F/HDF, G, K, L, and N plans. Plan availability may vary by state.
The Reserve Fund Annuity (RFA) is a great savings vehicle that is available with UA’s ProCare Medicare Supplement portfolio. The RFA features a minimum 3% guaranteed interest rate and the funds deposited can be used to pay out-of-pocket expenses, deductibles, copays, or coinsurance associated with the Medicare Supplement plan selected.
Their Fundamental Life SeriesTM life insurance policies, with coverage amounts from $1,000 to $20,000, are designed to help cover final expenses. Plans are available as term, permanent, or whole life policies. The policies do not require a physical exam and are guaranteed renewable as long as premiums are paid on time. Plan availability may vary by state.
“Our agreement with United American illustrates Insphere’s commitment to expanding its portfolio of life, health, long-term care, and retirement insurance products to better meet the spectrum of insurance needs for each client we serve,” said Fasola. “We believe that our selection of highly rated carriers like United American, combined with our agents who provide personalized service and understand the unique needs of the individual insurance buyer, enables Insphere to deliver an unmatched level of service to our clients.”
Insphere Insurance Solutions is actively recruiting new and experienced insurance agents and experienced field leaders with an objective of doubling the number of agents over the next few years.
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About United American Insurance Company
United American opened its doors in 1947 to provide life, health, and accident coverage to middle-income Americans. When Medicare began in 1966, UA developed its first Medicare Supplement product and the Company began to focus its products on the Senior market. Today UA is one of the nation’s largest writers of individual Medicare Supplement insurance according to the National Association of Insurance Commissioners.* The Company offers insurance protection to individuals, group retirees, and worksites with a minimum of 10 lives. For more than 30 consecutive years, UA has earned an A+ (Superior) Financial Strength Rating from A.M. Best (as of 6/11). UA is also rated AA- “Very Strong” for Financial Strength by Standard & Poor’s (as of 5/10).
* NAIC Medicare Supplement Loss Ratios in 2010, Medicare Experience Report By Direct Premiums Earned For Total Individual Policies, May 2010
About Insphere Insurance Solutions
Insphere Insurance Solutions, Inc. is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small businesses and middle-income individuals and families through its portfolio of highly rated products offered by nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,600 agents nationwide. For more information, please visit www.insphereis.com.
CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release may include forward-looking statements relating to Insphere Insurance Solutions, Inc. that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "intend," “may,” "objective," "plan," "possible," "potential," “project” and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, the effect of recently enacted national health care reform legislation on our business; other legal or regulatory developments which may adversely affect our business including, but not limited to, laws or regulations which impede our ability to obtain effective leads; any failure to comply with applicable law or regulations; our ability to maintain applicable licenses; our ability to enter into and maintain satisfactory relationships with insurance carriers and agents; our ability to implement and maintain various information technology and administrative systems, platforms and processes necessary to successfully run the businesses, or the failure of such systems, platforms and processes to provide timely and accurate information; our reliance on outsourcing arrangements, which may subject us to risks related to business disruption or otherwise adversely affect our operations; termination of agreements with insurance carriers or revisions to contract terms which may adversely affect our business; the failure of insurance carriers to pay us in a timely and accurate manner or to provide us with data required to support product sales and accurately pay our agents; and the failure of an insurance carrier to administer underwritten business in an appropriate manner, which may lead to customer dissatisfactions and the lapse or cancellation of policies for which we and our agents receive commissions. Like any business, the progress and success of the company entails substantial uncertainty. There can be no assurance that other factors not currently anticipated by the company will not materially and adversely affect our financial condition and results of operations. Readers are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.
Media Contacts:
Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereIs.com
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