banks insurance

Commercial Insurance:


With over 30 years of experience in marketing insurance to financial institutions, we are in a position to provide a wide array of Commercial Insurance markets to cover the Bank’s own insurance needs. Our company affiliations and our volume of production mandates competitive rates as well as top quality of insurance products to our partners and clients. By providing the Bank’s own insurance through the Agency affiliation, the Bank is assured that their “partner” will truly act in the Bank’s interest.
R.E.O Insurance and Force Place Coverage:


We are in a position to provide R.E.O. Insurance coverage and Force Place Coverage from many different carriers under different policy structures thus providing coverage that best suits the Bank’s needs. We can provide “stand alone” coverage, add on to the Bank’s package policy coverage and unique hard to place R.E.O. insurance coverage for such things as aircraft, boats and other objects and structures which have been repossessed by the Bank. Standard coverage is up to $20,000,000. And liability coverage up to $20,000,000 on a “set rate basis”. Coverages beyond these limits are also available on an “as needed basis”.
Homeowner Insurance Policies:
We will offer Homeowners Insurance to all new mortgagors, other Bank customers as well as the general public. A well defined marketing process is available utilizing computerized illustrations, and telemarketing follow-up by licensed representatives. The availability of many carriers assures your customer obtains the coverage needed at a competitive price. Experienced licensed representatives will be available to provide your customers with the service they need.
Personal Lines Insurances:

Besides offering Insurance to your customers, we provide a full line of personal insurance products including: Fire, Automobile, Motorcycle, Excess Liability, Boat Insurance and more.Voluntary Term Insurance and Cash Value Insurance:Term Insurance products and Cash Value Life Insurance products could be marketed to customers of the bank on a mass mailing basis with all leads being handled by licensed agency or Davis personnel.Saver’s Life Insurance:This unique program enables C.D., passbook and other saving account customers to utilize some of the assets and/or income from their savings programs to purchase life insurance. The periods of time that premiums are paid to this program are limited. The policy is structured to continue for as long as the customer chooses with a full refund of premium available after a given number of years. The policy provides coverage for those customers who need it, particularly your elder customers. The program elongates the relationship of the customer with the bank.
Single Premium Life Insurance:


The Agency would be in a position to offer a Single Premium Life Insurance policy to customers who are concerned about passing on assets to their heirs, tax-free. The policy eliminates probate and thus puts the monies in the hands of the receiver much quicker. The unique characteristics of Single Premium Life Insurance are that the one time premium is always fully refundable at any time to the policy owner. The insurance can be placed in effect for an unlimited number of years with complete refund of premium at any time. Participants would be provided with a complete outline of the policy provisions.


Long Term Health Care (Nursing Home Insurance):


Long Term Health Care (Nursing Home Insurance) is a product that is rapidly being accepted by senior citizens as a necessary insurance product. Basic hospitalization or Medicare does little, if anything, to provide coverage for this very expensive exposure. As General Agent for a number of companies, we can propose a "Lifetime Benefit Program" at very competitive rates to customers ages 50 and over. The average sale is $800.00 per applicant, resulting in a double sale to husband and wife.


Single Premium Deferred Annuities (SPDA):Annuities are an insurance company product that are being marketed to bank customers by many financial institutions. This product protects the bank from losing funds to outside investment sources. The average annuity customer is age 60 and over and the average annuity sale is $12,000. Sales to be generated would be determined by bank management each year. Annuities are readily accepted by bank customers when marketed by the bank.


Annuity Exchange:


Over $12 billion of Annuities are sold each year through banks to their customers and there is over a trillion dollars of Annuities outstanding. Many bank customers currently have annuities that were purchased elsewhere and are in need of up to date information, rate comparison to the current market and general servicing of their existing annuities. This program would provide a licensed representative to provide aid and service to these customers. The Agency can provide an exchange to a higher rate annuity without tax penalty and thereby generate annuity commissions to the Agency with all sales being termed as “outside money”. The Annuity Exchange program can place the bank in the Annuity business without marketing annuities to their existing C.D. and other savings customers.
Employee Payroll Deduction Automobile and Homeowner Program:Agency can offer an Employee Payroll Deduction Automobile and Homeowner Program that would provide a discount on both products to employees who voluntarily participate. This program enhances employee relationship with the bank. Coverage can continue on a direct bill basis for departed employees
Group.
Health and Individual Health Insurance:


We are able to provide large and small group Health Insurance as well as Individual Health Insurance to the bank and your customers through the major market players in the Health Insurance industry.
Credit Insurance and Optional Mortgage Insurance Programs:


We offer Credit Insurance Programs for both fixed and revolving loans. We also offer Group Mortgage Life, Disability and Accident and Health Programs.