Two important modifications will be made to Patriot Life Insurance term products, which will make it even easier for you to offer the company’s product solutions to your valued multi-line customers.

First, the $150 life annual minimum premium requirement to be eligible for Home (5%) and Auto (4%) life discounts has been eliminated.  Frankenmuth Insurance policyholders will now receive those stated discounts when they purchase any life insurance policy on a named insured through Patriot Life. Younger clients will now be able to purchase smaller amounts of coverage – e.g. $50,000 or $75,000 – on a simplified issue basis and still receive the multi-policy discounts.

Second, Patriot Life has lowered the minimum term face amount for issue ages 50 – 70 from $50,000 to $25,000. 

Both changes go into effect beginning July 1, 2011.

“We received valuable feedback from Agency personnel that these changes would improve ease of doing business for agents and enhance the Patriot Life product offering for our multi-line customers,” says Patriot Life Insurance Company COO Kevin Marti. “Our primary goal from the start has been to make writing life insurance as easy as possible for our agency partners. Combined with the efficient iBIS workflows we already have in place, we are excited by the possibilities for increased cross-sales of our P/C client base.”

Marti also indicates Agency Principals should watch for an announcement shortly regarding an incentive program further designed to help promote Patriot Life’s product solutions in your agency.