American United Life Insurance Company (AUL) Named Preferred Carrier for Group Life and Disability Insurance Policyholders
Contact:
Paul T. Branks, Assistant Vice President, Corporate Communications
(317) 285-1437, paul.branks@oneamerica.com
Indianapolis, IN – Oct. 9, 2008 – American United Life Insurance Company® (AUL), a OneAmerica company, announced today that it had been selected by The Lafayette Life Insurance Company (Lafayette Life) to be the recommended and preferred carrier for Lafayette Life’s existing group insurance policyholders. Lafayette Life chose AUL as part of the company’s decision to exit the group life and disability insurance markets, where it has a very small presence, in order to sharpen Lafayette Life’s focus on its very successful core lines of business—individual life insurance, individual and group annuities, and retirement services.
“We are both excited and honored to be named the preferred carrier for Lafayette Life policyholders,” said Len Cavallaro, vice president of AUL’s Employee Benefits Division. “It’s gratifying to be recognized as the best option for providing the products, service and value that these customers deserve.”
“AUL’s long history of excellence in the group insurance business and its high industry ratings make it an ideal provider for these customers,” said Jerry B. Stillwell, president and CEO of Lafayette Life. “Working with AUL will allow for a smooth application process and transition of coverage for nearly all of Lafayette Life’s group insurance policyholders to another strong Indiana-based insurance company. Lafayette Life, a member of Western & Southern Financial Group, is among the highest-rated companies in the industry. We wanted to provide our customers with the opportunity to place their group insurance with another financially solid Indiana insurance company with whom we have a long relationship of mutual respect and cooperation,” Stillwell said.
The arrangement involves nearly 1,500 policyholders and is mutually beneficial for both carriers. The extremely competitive group life and disability insurance businesses are core strengths for AUL, which has a growing presence in those markets, particularly voluntary group insurance, and a national network of experienced professionals. AUL will interact closely with Lafayette Life during the proposal process to transition the group insurance coverages by year-end.
“Lafayette Life Insurance is an outstanding company and AUL sees this as an opportunity to serve these policyholders by providing a smooth application process and transition of their coverages,” Cavallaro continued. “Being the preferred carrier underscores AUL’s commitment to growing our group life and disability insurance business and delivering best-in-class products and services to our customers.”
About AUL’s Employee Benefits Division
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 holding company values, innovative voluntary group insurance products and tools, and quality service from local representatives, service professionals and claims specialists.
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 plans, 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 maximizing 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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Note: OneAmerica is not a licensed insurance company. The companies of OneAmerica are neither licensed in New York as insurance companies nor do they solicit business for their insurance products in New York.
