Liberty Bankers Insurance Group Increases Lump Sum Benefit for Critical Illness Product

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DALLAS, Aug. 15, 2022 /PRNewswire/ -- Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced its critical illness product has increased the maximum lump sum benefit from $30,000 to $70,000. This increased benefit is available through the company's independent agent distribution channel in twenty states.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, August 15, 2022
Information
Tags: 
Recurrence, Policy, Life, Stroke, Aegon, AM Best, Insurance, Health, Life insurance, Cancer
Geotags: 
TEXAS, OKLAHOMA, LOUISIANA, GEORGIA, MICHIGAN, NEVADA, VIRGINIA, KANSAS, COLORADO, ARKANSAS, KENTUCKY, INDIANA, NEBRASKA, WASHINGTON, ILLINOIS, MISSOURI, ALASKA, WEST VIRGINIA, FLORIDA, OHIO, MARYLAND
Organisation: 
LIBERTY BANKERS INSURANCE GROUP
Summary
Key Points: 
  • The critical illness product includes cancer, heart attack, and stroke plans and is offered through Liberty Bankers Life Insurance Company, a member of Liberty Bankers Insurance Group.
  • "If a policyholder is diagnosed with cancer, or had a heart attack or stroke, the critical illness benefit is payable to them in a single lump sum," said Dave Peters, senior vice president, supplemental health division at Liberty Bankers Insurance Group.
  • In other states where the critical illness product is available, the lump sum benefit will increase to $70,000 in the near future.
  • Rated A- Excellent by AM Best, LBIG is comprised of American Monumental Life Insurance Company, American Benefit Life Insurance Company, Capitol Life Insurance Company, and Liberty Bankers Life Insurance Company.


Liberty Bankers Insurance Group Increases Lump Sum Benefit for Critical Illness Product

Benefit is Payable up to $70,000 for Cancer, Heart Attack, and Stroke

DALLAS, Aug. 15, 2022 /PRNewswire/ -- Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced its critical illness product has increased the maximum lump sum benefit from $30,000 to $70,000. This increased benefit is available through the company's independent agent distribution channel in twenty states.

The critical illness product includes cancer, heart attack, and stroke plans and is offered through Liberty Bankers Life Insurance Company, a member of Liberty Bankers Insurance Group.

"If a policyholder is diagnosed with cancer, or had a heart attack or stroke, the critical illness benefit is payable to them in a single lump sum," said Dave Peters, senior vice president, supplemental health division at Liberty Bankers Insurance Group. "With our product, the lump sum benefit provided only depends on the plan selected, not on the treatment received."

The critical illness product offers an automatic recurrence benefit on every policy. One year after a heart attack or stroke, or one year after cancer goes into remission, the policyholder's lump sum benefit starts to rebuild. After five years, it is back to 100% of the original benefit. This recurrence benefit is payable an unlimited number of times.

"Battling cancer or recovering from a stroke is expensive," said Brian Clark, chief marketing officer at Liberty Bankers Insurance Group. "From medication to childcare and living expenses, policyholders can feel financially prepared should the unexpected happen."

The lump sum benefit increase for the critical illness product is now available in Alaska, Arkansas, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Missouri, Nebraska, Nevada, Ohio, Oklahoma, Virginia, Washington, and West Virginia. In other states where the critical illness product is available, the lump sum benefit will increase to $70,000 in the near future.

About Liberty Bankers Insurance Group

Based in Dallas, Texas, Liberty Bankers Insurance Group (LBIG) is a nationally recognized and respected insurance group that offers a variety of life, health, and financial products. Rated A- Excellent by AM Best, LBIG is comprised of American Monumental Life Insurance Company, American Benefit Life Insurance Company, Capitol Life Insurance Company, and Liberty Bankers Life Insurance Company.

More information is available at www.lbig.com.

Liberty Bankers Insurance Group
Kim Neeley
(800) 731-4300
[email protected]

 

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SOURCE Liberty Bankers Insurance Group

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