NEWS FROM VANTIS LIFE INSURANCE COMPANY
For Immediate Release
Contact: Chris Senecal
860.652.0300 ext. 526
WINDSOR, CT - June 18, 2007 -Vantis Life Insurance Company (www.vantislife.com), has received approval from the Secretary of State and Attorney General of New York to form a new subsidiary, Vantis Life Insurance Company of New York. Vantis Life management expects to receive a Certificate of Authority in late 2007.
"New York is a key growth market for Vantis Life and is the 50th state to which we will have been admitted," said Peter Tedone, CEO. "Several of our existing clients have New York operations and will be able to sell Vantis Life products as soon as they are available. Other New York financial institutions will be able to benefit from our extensive experience in the channel and can take advantage of our award winning Internet-based application platform that makes selling life insurance through branch licensed representatives fast and error-free."
Currently, Vantis Life provides services to more than 50 banks and credit unions nationally whose assets typically range from $1 billion to $20 billion. Vantis Life specializes in providing a wide range of asset protection and asset accumulation products to middle and upper middle income clients. These products are supported by Vantis University, a comprehensive agent support and development program that features in-person and online training.
Vantis Life provides financial institutions with a variety of simple to sell products, including simplified issue term and whole life, underwritten term life insurance, traditional permanent coverage and single premium whole life. The Company also has a line of fixed annuity products, some with multi-year interest guarantees.
About Vantis Life Insurance Company
Founded in 1942, Vantis Life makes life insurance affordable for hard-working American families. With the financial strength of more than $700 million in assets and an "A-Excellent" rating from A.M. Best, Vantis Life is sold by licensed representatives at financial institutions and through a professional, licensed direct sales force in the Company's Windsor, Connecticut headquarters.
Vantis Life's complete, easy-to-sell product line includes underwritten term and whole life insurance, simplified issue term and whole life insurance, single premium whole life and guaranteed issue senior products. All products are quoted and applications are submitted via AgentWebsm, Vantis Life's exclusive online solution that speeds the application process at the point of sale and eliminates administrative errors. For more information about Vantis Life Insurance Company, visit www.vantislife.com.