VantisLife Insurance Company Cracks The Code For BankSold Life Insurance

May 17, 2005 -- At a recent industry conference, VantisLife Insurance Company (www.vantislife.com), operating in Connecticut as The Savings Bank Life Insurance Company (SBLI), unveiled its new and updated Internet-based sales system as an important element to increasing bank-sold life insurance to middle and upper-middle income customers. VantisLife was a sponsor of the recent Bank Insurance and Securities Association (BISA) conference that was held recently in Orlando, FL.

"The overwhelming response to our Internet-based quotation and submission system at the conference was not a surprise. Our bank partners actually participated in the design of the system, which allows bank agents to offer customers the right product, at the right price, and quickly submit the application electronically. The entire process takes about 15 minutes," explained Craig Simms, senior vice president of Marketing for VantisLife. "VantisLife has definitely 'cracked the code' for bank-sold life insurance . Now, we've made it very easy and very profitable for banks to sell life insurance products without any of the previous hassles banking representatives experienced."

Caryl Brown, vice president of Lancaster, PA-based Sterling Financial Corporation, one of VantisLife's partners, agreed. "VantisLife has solved a dilemma that banks have faced for years. VantisLife's technology, teamed with their knowledgeable and attentive regional wholesaling, has allowed Sterling Financial to get a jump-start on our life insurance program. We're able to offer a life insurance solution to core bank customers without branch personnel spending an inordinate amount of time on the sales process," said Brown.

"VantisLife's mission is to offer a focused line of easy to sell products that can be quoted and submitted quickly via an Internet-based platform. The majority of life insurance companies currently active in the bank channel sell simplified issue-only insurance products that have a manual submission procedure and approval process and may be the exact wrong product for many customers," said Simms. "There is a point where you have to identify which product is the right one for your customer. Healthy customers, for instance, should always be offered a more cost-effective underwritten product as a first alternative."

"It's the right thing to do," added Peter Tedone, president & CEO of VantisLife. "Banks no longer need to depend upon a 'one-product' focus when all of the VantisLife's products can be easily quoted and applied for online. The process, even for the underwritten products, takes no more than 15 or 20 minutes. Strategically, I believe we have developed a solution for a problem that has perplexed banks since the Gramm-Leach-Bliley legislation was enacted in 1997. Some of our bank partners that have been with us since 1942 have commented that this system is truly a breakthrough that will allow their reps to sell more business, faster than ever before."

About VantisLife Insurance Company
Founded in 1942 as The Savings Bank Life Insurance Company, VantisLife (www.vantislife.com) makes life insurance affordable for hard-working American families. With the financial strength of more than $650 million in assets and an A-Excellent rating from A.M. Best, VantisLife is sold by licensed representatives at financial institutions in various states, as well as through a professional, licensed direct sales force in the East Hartford, Connecticut headquarters. VantisLife offers a wide range of asset accumulation and asset protection plans to middle income clients generally under-served by traditional financial services companies. Among the many insurance and financial products offered are: simplified issue term and whole life, traditional permanent coverage; Guaranteed Golden plans for mature adults; low cost and flexible underwritten term life insurance ; Children's Term Life; and the tax and income advantages of TaxSaver Annuities. High in quality and low in cost, VantisLife Insurance products meet protection needs of today and cash accumulation needs tomorrow. For more information about VantisLife Insurance Company, visit www.vantislife.com.

VantisLife Insurance Company Cracks The Code For BankSold Life Insurance

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VantisLife Insurance Company Cracks The Code For BankSold Life Insurance

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