The reduced national revenue has intensified calls for the revision of the GATE (Government Assistance for Tuition Expenses) program. Presently it provides funding for 100% of and 50% of the...
You are here
Pan American looks to launch new products
More than a year since it acquired Algico, the USbased Pan American Life Insurance Group (PALIG) plans on introducing more products to the T&T market.
Confident that the T&T market is a lucrative one, Bruce Parker, senior vice president, global life insurance, said he anticipates upward growth for the company. “We are working on a product now called Universal Life. It’s a product that will allow people to buy permanent life insurance and have part of it in a cash value. Universal Life is a flexible product that is used in the middle to affluent market place.” The company explained: “Life Access is a Universal Life product that has a cash value component.”
Further, Universal Life products are not new to the T&T market, but “Pan American’s Life Access Universal Life product will have unique riders and benefit options that are currently not offered by others.” Permanent Life Insurance is an insurance policy that lasts a lifetime versus a specific time period.
The product is expected to be launched in the second quarter of 2014. Parker spoke to the Business Guardian last week to highlight the company’s performance. “We don’t think everyone would be drawn to the product. It is not a product that is going to be for everybody. The individual would be able to manage their policy and they’ll have flexible premiums. So they could put more money into the product if they want to, and have it go right into savings, or they can put less money in after. It’s a period of time where they might have to put less money into the product.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.