WINDSOR, Conn.--(BUSINESS WIRE)--Vantis Life Insurance Company says it’s time for the trend of declining life insurance ownership among mass-market customers to end. That’s why the life insurance provider for mid-market and emerging affluent consumers has introduced Velocity, an upgraded online life insurance platform that makes getting coverage faster and more efficient. Velocity will shake up the industry by offering a new experience with the ability to issue policies up to $1 million through a greatly accelerated underwriting engine.
“Vantis Life is revolutionizing the process that agents use to offer life insurance to customers who need this product most,” said Ray Caucci, Chairman and Chief Executive Officer at Vantis Life. “The resulting product suite, powered by accelerated underwriting, enables distributors to offer high-quality products to more people in the mass market, more easily than ever. Each agent will have the option to take the application themselves, with an underwriting decision available in minutes; refer the customer to Vantis Life’s professional contact center, or refer the application directly to the customer via email. These choices are key benefits to the Velocity experience.”
Vantis Life’s Velocity product suite includes Term, Term Return of Premium (ROP), and Permanent Life Insurance, all available via a new quote-and-submit agent portal. To expedite the life insurance application process, Vantis Life’s underwriting technology harnesses items such as Fair Credit Reporting Act (FCRA)-compliant consumer data through LexisNexis, pharmaceutical databases and motor vehicle records in order to deliver an offer for life insurance in as little as a few minutes to a few days for the healthiest applicants, without a medical test or additional cost.
All Vantis Velocity products come with accelerated benefit riders for no additional premium. A unique Charitable Giving rider, also included with no added premium, provides an additional death benefit of 1% (up to $100,000) to a qualified charitable organization of the policy owner’s choosing, and is paid by Vantis Life.
In addition to term and whole life, Vantis Life’s final expense product, Guaranteed Golden®, and single premium wealth transfer product, EstateWise Platinum®, will also be available on the same digital platform.
For more information on Vantis Velocity, please visit VantisLife.com/products/life-insurance-products.
About Vantis Life
Established in 1942, Vantis Life Insurance Company’s primary goal is to provide families affordable life insurance products. Vantis Life markets its products through financial institutions and direct to the consumer. The Company prides itself on providing simple, easy-to-afford products to middle-income American families and supporting these products with attentive and personal customer service. Vantis Life is a separately operated subsidiary of The Penn Mutual Life Insurance Company.