Federal Life Partners with Swiss Re and Leading Insurtech Company to Bring a New Digital-First Insurance Solution to Market
Reframe LifeStage provides families with a first-of-its-kind hybrid policy that features Indexed Universal Life insurance with cash value and long-term care (LTC) benefits and a completely digital, responsive and fast buying experience that fits into their busy lives. The policy is designed to evolve and grow in value over time to meet changing customer needs.
“The decision to partner with Reframe Financial on LifeStage aligns with our commitment to finding unique and innovative protection products and interest in working with like-minded companies,” said
Invasive underwriting practices, like lab tests and interviews for applicants under age 66, have been eliminated enabling employees to apply online and receive a personalized decision within minutes.
“Finding ways to make life insurance meet the needs of more consumers is a key focus area for us as we strive to close the life insurance protection gap,” said
A large percentage of today’s workforce is “sandwiched” between aging parents and young kids, creating a need for different levels of coverage at various stages of life, such as more life insurance when raising a family and increased LTC benefits post-retirement. Knowing this population will likely become caregivers to their parents or other elder family members in the future, Reframe LifeStage includes a caregiver services benefit that provides its policyholders with customized advice, resources and support to alleviate their stress.
In addition, there is no minimum group size requirement for employers, making it an ideal solution for the small business market, which represents 99% of all companies in the
“Another exciting feature of the LifeStage plan, in addition to its unique indexed Universal Life capabilities, is that the LTC benefits are indemnity-based and 7702B tax-qualified,” said
About Swiss Re
Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk management. With strong financial ratings and experience spanning 155 years, Swiss Re has a long and successful history of developing innovative solutions that provide security for its clients around the globe.
About Reframe Financial
Reframe Financial is helping families prepare for and manage the financial and emotional issues of aging. The company’s insurance products and services address families’ financial needs at each life stage, from the early stages of building a family to empty nesting, retirement, and beyond. Reframe’s proprietary buying process and digital-first platform make it easy for consumers to buy and easy for distributors to sell. Reframe partners with the industry’s most respected carriers, distributors, reinsurers, and employee benefits brokers to ensure that more families have access to the solutions they need for a brighter future.
Small Business Association, 2022.
Source: Federal Life Group, Inc.