Wholesalers to Work With Brokers, Consultants to Help Introduce Executive
Benefit Product Offerings Employers
HARTFORD, Conn., April 6 /PRNewswire/ -- MassMutual Financial Group today
announced the appointment of three regional wholesalers who will work closely
with brokers and consultants to promote its leading-edge executive group life
insurance products.
The appointments, which continue Massachusetts Mutual Life Insurance
Company's (MassMutual's) momentum in the executive benefits marketplace,
bolsters the company's efforts to help employers attract top executives, keep
them on board, and assist them with their life insurance and financial
analysis needs.
The new wholesalers and the regions for which they will be responsible
are:
* James Milligan, Eastern Region. Milligan, who will be based in West
Conshohocken, PA, is the former director of group life sales for
Prudential Financial's Philadelphia and Pittsburgh markets. He has
more than twenty years of experience in the group life and disability
income insurance markets.
* Mark J. Dunlop, Central Region. Dunlop, who will be based in St. Louis,
MO, has nearly 30 years of insurance, human resources, benefits and
consulting experience. He was director of brokerage operations for
Rothschild & Sale and was the advanced marketing consultant at
Financial Data Planning. Most recently he was vice president of Worker
Benefit Plans for The Lutheran Church -- Missouri Synod, serving
70,000 participants.
* Richard Sanfilippo, Western Region. Sanfilippo, who will be based in
San Francisco, CA, has more than 20 years of experience in the
employee benefits industry, including management, sales, marketing and
underwriting. Most recently he was Senior Account Executive in AIG's
Group Benefits Department. Previously he co-founded and ran two
insurance company start-ups and worked as western US regional director
for GroupAmerica Insurance Company.
"Our goals are to make it as easy as possible for financial
representatives to make this innovative life insurance benefit available to
their corporate clients, for clients to administer the plans, and for
participants to understand and take advantage of the opportunities offered by
them," said John LaPrade, manager of executive group life insurance sales. "We
recently introduced technological innovations that streamline enrollment and
administration for sales representatives, plan administrators, and
participants. Now, the addition of talented, experienced wholesalers will
enable us to provide support to brokers, consultants and other distributors
interested in introducing their clients to MassMutual's highly-regarded suite
of executive group life insurance products."
Executive Group Life Insurance products can potentially help employers
reduce their over-all cost of employee life insurance by "carving out" the
often older executive team that requires more coverage from the group term
life insurance pool. The programs also are often used for Section 162
Executive Bonus Plans.
Employers use executive group life insurance as a way to recruit, retain
and reward their key employees. The plans are particularly popular among
professional services firms, corporations, universities and hospitals. They
combine low cost of insurance rates with the convenience of group
underwriting, which results in costs that are usually below what employees
could obtain individually.
MassMutual's executive group life insurance policies:
* provide for high limits of guaranteed issue coverage, making enrollment
easy;
* are fully portable, meaning that executives may continue coverage at
low group rates even after separating from service;
* maintain benefit levels even after retirement; and
* do not have surrender charges.
More information on executive group life insurance is available by calling
MassMutual at (800)-665-2654.
About MassMutual Financial Group
MassMutual Financial Group -- comprised of member companies with more than
$325 billion of assets under management as of year-end 2004 -- is a global,
growth-oriented, diversified financial services organization providing life
insurance, annuities, disability income insurance, long-term care insurance,
retirement planning products, structured settlement annuities, trust services,
money management, and other financial products and services. Assets under
management include assets and certain external investment funds managed by
MassMutual subsidiaries.
The MassMutual Financial Group is a marketing designation (or fleet name)
for Massachusetts Mutual Life Insurance Company (MassMutual) and its
affiliates, which include: OppenheimerFunds, Inc.; Babson Capital Management
LLC; Cornerstone Real Estate Advisers, LLC; MML Investors Services, Inc.; The
MassMutual Trust Company, FSB; Antares Capital Corporation; MML Bay State Life
Insurance Company; C.M. Life Insurance Company; and MassMutual International,
Inc. MassMutual is on the Internet at http://www.massmutual.com.
Contact:
Kathleen Gilroy
617-723-4891
kgilroy@madisoncommunications.com
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