Federal Life Partners with World's Third-largest Reinsurer and U.K. Financial Product Specialist to Bring a Later Life Annuity Solution to U.S. Consumers [Yahoo! Finance]
HANNOVER RE SE S/ADR (HVRRY)
NASDAQ:AMEX Investor Relations:
hannover-re.com/122688/investors
Company Research
Source: Yahoo! Finance
CHICAGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Federal Life Insurance Company has partnered with global reinsurer Hannover Re and later life insurance specialists Vidale Marketing Group to offer the MyImmediateCarePlan (MyICP).This unique new product is a medically underwritten single premium immediate annuity available to those aged 70 to 95, which guarantees an income for life. “When it comes to paying for care, a large percentage of Americans will simply draw down from their existing assets with no real guarantees as to how long those assets will last," said Knut Olson, chief executive officer for Federal Life. “This becomes a gamble against longevity where loved ones can only hope those requiring care don't outlive their money." With life expectancy rising and global economic volatility, this problem demanded a unique solution requiring a collaborative approach from experts across the globe. Product specialist teams from Federal Life, Hannover Re and Vidale Marketing worked dilig
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