|
(Springfield, MA) - Massachusetts Mutual Life Insurance Company (MassMutual) today announced the appointment of James A. Mergens as its eastern region wholesaler to promote its executive group life insurance products within the Executive Benefits market. The appointment bolsters the company's efforts to help employers attract and retain key professionals by making the benefits of executive group life insurance more widely accessible.
Based in Tampa, FL, Mergens will work with brokers, consultants and other distributors along the east coast to increase awareness of MassMutual's executive group life insurance product suite and support their efforts to bring the solution to their corporate clients.
Mergens joins MassMutual from Aon, where he most recently represented their executive benefits area. In that position he designed and implemented various non-qualified executive benefit programs and specialized in supplemental executive benefits. He also founded and was president of Certified Estate Advisors Inc., a privately owned, independent financial and estate planning firm in Tampa serving high-wealth individuals and small businesses.
"James is an experienced, hands-on sales executive whose expertise will enhance the ability of financial professionals to introduce Executive Group Life insurance to clients who can benefit from its unique features," said John Laprade, Managing Director of executive group life insurance sales.
Employers use executive group life insurance as a way to recruit, retain and reward their key employees. The programs are particularly popular among professional services firms, corporations, universities and hospitals as a means to potentially help reduce over-all cost of employee life insurance by "carving out" the often older executive team that requires more coverage from the group term life insurance pool. By combining low cost of insurance rates with the convenience of group underwriting, the costs are usually below what employees could obtain individually. The programs are often used for Section 162 Executive Bonus Plans.
MassMutual's executive group life insurance policies:
|
|
provide for high limits of guaranteed issue coverage; |
|
|
are fully portable, meaning executives may continue coverage even after separating from service; |
|
|
maintain benefit levels even after retirement; |
|
|
do not have surrender charges; and |
|
|
require a minimum of 30 participants. |
More information on executive group life insurance is available by calling MassMutual at (800)-665-2654.
About MassMutual Financial Group
MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than 13 million clients and over $395 billion in assets under management at year-end 2005.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; and MML Investors Services, Inc., member FINRA and SiPC (www.finra.org www.sipc.org)
| 
