American United Life Insurance Company® (AUL) Employee Benefits division reports significant growth in group voluntary term life, record disability insurance sales
Contact:
Beth King, APR, Media Relations Manager
(317) 285-4168 or beth.king@oneamerica.com
For Immediate Release:
Indianapolis (April 21, 2010) – National sales of group voluntary life and disability insurance products had slight gains in 2009, coming in at 17.2 percent for life, 1.5 percent for short-term disability and 1.4 percent for long-term disability. While national voluntary product sales experienced moderate growth, the Employee Benefits division of American United Life Insurance Company® (AUL), a OneAmerica company, surpassed the national average with voluntary life sales increasing 57 percent and voluntary disability sales increasing 60 percent, respectively.
“Our value proposition states that we lead with voluntary and focus on the ability to design, implement and maintain bundled ancillary benefit plan solutions for employees, employers and producers,” said AUL Employee Benefits division Vice President Len Cavallaro. “In 2009, we were able to live up to our promise with the help of dedicated professionals, innovative product solutions and a strong commitment to service and accountability.”
In 2009, the Employee Benefits division’s regional group offices contributed to 125 percent of new sales. The division also issued proposals for more than 2,500 new coverage lines and maintained 6.5 percent closing ratio. Additionally, premium from reclaimed territory represented more than 25 percent of division production. The division also increased its national footprint by 405 percent in Texas and 1,400 percent in Chicago region. To meet demand, the division made six key hires in the second half of 2009. For 2010, the division will continue expanding market presence and building out the team.
“The Employee Benefits division results are proof positive that our customers truly value the financial benefits that come standard with AUL's voluntary life and disability insurance solutions for benefit plans,” said Dayton H. Molendorp, chairman, president and CEO for OneAmerica. “When many companies are streamlining costs, the Employee Benefits division’s results reflect the stability that customers need most.”
About AUL Employee Benefits
American United Life Insurance Company® (AUL) is the founding member of OneAmerica® and offers a strong portfolio of products for employee benefit plans, including group life, disability and medical stop loss insurance, as well as access to dental and vision insurance, and employee assistance programs through other providers. AUL provides value beyond today through financial strength, mutual insurance holding company values, innovative voluntary group insurance products and tools, and quality service from local representatives, service professionals and claims specialists.
About AUL
American United Life Insurance Company® (AUL), a OneAmerica® company, is focused on providing a strong portfolio of products for individuals, families and small businesses. AUL utilizes a national network of experienced professionals utilizing an extensive menu of financial products, including life insurance, annuities and employee benefit plan products. The company helps consumers plan for tomorrow by helping to protect their financial futures.
About OneAmerica
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies of OneAmerica® can trace their solid foundations back more than 130 years in the insurance and financial services marketplace.
OneAmerica’s nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other clients. These products include retirement plan products and services; individual life insurance, annuities, long-term care solutions and employee benefits. The goal of OneAmerica is to blend the strengths of each company to achieve greater collective results.
The products of the OneAmerica companies are distributed through a network of employees, agents, brokers and other distribution sources that are committed to increasing value to our policyholders by helping them plan to meet their financial goals.
We deliver on our promises when customers need us most.
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