Whole Life Insurance Companies
Wholesale life insurance is considered as a variation of group life insurance and covers a group of people that work at the same company or for same employer. The basis difference between group life insurance and wholesale life insurance is that in group life insurance, it is the employer that owns the insurance policy whereas in case of wholesale life insurance, each person owns his insurance policy. The employee is also required to agree for the payment of at least a part of premiums towards the whole sale life insurance for the group. Since group life insurance is limited to a minimum of 50 members, wholesale life insurance policies were devised so as to cover a minimum of 10 members. In present times, wholesale life insurance is written for a group consisting of at least 5 people. Wholesale life insurance has been proved as a boon for those smaller groups that are not able to meet the underwriting standards of group life insurance. Since individual policies are provided to each of the employees working at the same place, one member can easily ask for more or less coverage than other.
WHOLESALE liFE INSURANCE COMPANIES
There are many insurance companies that provide wholesale life insurance policies. Almost all these insurance companies market wholesale life insurance as cheap and cost effective way of providing insurance to the group of employees. These also provide many types of added benefits so as to gain maximum number of customers. Employers are also able to provide better benefits to their employees. If employers or business persons are able to provide volume policies, there are many insurance companies that provide good discounts. Even some insurance carriers allow for grouping of businesses for becoming eligible for discounts. Let us discuss some of wholesale life insurance companies to understand more.
First Rate Insurance Inc is one of wholesale life insurance company that specializes in providing lowest wholesale life insurance quotes in Canada. Quotes are provided on the basis of health. All the insurance providers are assessed by First Rate on the basis of competitiveness, price, services and solvency. Employers can easily rely on First Rate while buying wholesale life insurance policies. For a customized no-obligation quote, a person can easily call at 1-800-884-2126. First Rate can be called at 416-969-8555 in Toronto and at 613-842-8809 in Ottawa. First Rate also provides discounted quotes of wholesale life insurance for volume purchasers. Recently, First Rate has also been able to negotiate the prices of wholesale life insurance policies with most of insurers. These rates are available to large volume business owners and individuals. Prior underwriting approval is required. These negotiated rates are available only when the coverage amount is more than $3 million and premium is more than $5000. Business owners are allowed to combine their coverage amounts and premiums for getting special prices.
Similarly, AXA Equitable Life Insurance Company is another source providing wholesale life insurance along with other life insurance products. It is located at 1290 Avenue of the Americas, New York, NY. It was founded in the year 1859 and can be contacted at 212-554-1234. Insurance services are provided by this insurance company by means of subsidiaries in U. S as well as in other countries located across the globe. Various types of organizations covered include small businesses, medium sized businesses, professional associations, and trade associations. Annuity products are provided through separate accounts. It distributes the insurance products on wholesale basis.
Another provider of wholesale life insurance in United States is American Wholesale Insurance Group Inc. It is located at 5955 Carnegie Boulevard Suite 350 Charlotte NC. Its contact number is 704-554-4850. It is one of largest wholesale insurance company in United States and services are provided throughout the nation. Services are provided by way of broad network of operating countries as well as underwriters. Wholesale life insurance brokers also form an integral part of overall network and help independent agents in getting maximum business. There are more than 30 office locations of this insurance company in U.S. It also specializes in providing risk management solutions to business houses.
Another insurance company in United States that provide various types of insurance solutions including wholesale life insurance is Program Brokerage Corporation. It is located at 100 Sunnyside Boulevard Woodbury NY. Its contact number is 516-496-1340. Basically it is the wholesale subsidiary of Hub International Group Northeast Inc., which is a public company in the insurance sector having an experience of 50 years. It has been proved as one of most powerful partners for commercial insurance and for cost effective selling of insurance products including wholesale life insurance. It is also the pioneer of Purchasing Group Insurance. Key attributes of this company are financial backing, experience, MIS, and resourcefulness. Claims are settled in a very fast way. Apart from claim settling, strong focus is given on underwriting of insurance solutions.
Wholesale Insurance Services is also one of providers of wholesale life insurance in United States. It is located at 22972 Mill Creek DR. STE A Laguna Hills CA. Its contact number is 800-963-3365. Goal of this insurance provider is to provide products at best insurance rates with best possible services. Insurance specialists associated with Wholesale Insurance Service are quite experienced and are able to provide good discounts at good volumes. All the services are provided by means of state of art technology and a person can find quotes of more than 200 major insurance carriers in few seconds. Volume discounts are also offered directly.
Another wholesale life insurance company in United States is American Wholesalers Underwriting Ltd. It is located at 1100 High Ridge Road, Suite 203 Stamford CT. Its contact number is 203-322-6924. It is also called as AWUL and is a well known underwriter, administrator and wholesaler that provide services to retail insurance agencies. It is one of leaders in casualty and property insurance industry.
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