Financial Services Industry
Industry: Email Alert RSS FeedSchwab targets direct sales of low-load life ins.(Charles Schwab and Co. creates SchwabLife Insurance Services to sell life insurance wholesale)
National Underwriter Life & Health-Financial Services Edition, April, 1996 by Friedman, Amy S.
Charles Schwab and Company Inc has created SchwabLife Insurance Services to sell wholesale low-load life insurance policies. The service will sell universal life contracts, survivorship universal life contracts, and 10-year-term life contracts, with minimum face values of $100,000. Great-West Life and Annuity Insurance Co developed all three products, and more products might follow in the future.
Charles Schwab & Co. has entered the wholesale life insurance arena with SchwabLife Insurance Services, which will let consumers buy low-load life insurance directly.
The fee-only financial advisers who utilize the Schwab Institutional Investment Managers service will also have access to the products.
The company believes a market for direct sales to the public...
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