WINDSOR, Conn.--(BUSINESS WIRE)--Vantis Life Insurance Company, an industry-leading life insurance provider, has introduced its web- and mobile-based, DIY life insurance application process, Velocity, to mass-market consumers. All Velocity products feature the possibility of expedited underwriting, which can deliver a policy decision in as little as a few minutes and without the need for a medical exam.
LIMRA International indicates that 42 percent of Millennials, 46 percent of Gen X and 41 percent of Boomers research and purchase life insurance entirely online or research online and purchase directly from the company by phone or mail. It’s with this in mind that Vantis Life designed Velocity as a consumer-friendly platform with simple-to-purchase products for every generation.
“The modern middle-income consumer craves an ease-of-purchase experience for nearly every transaction, and it’s time the life insurance industry delivers on that need,” said Ray Caucci, Chairman and Chief Executive Officer at Vantis Life. “Our online experience coupled with expedited underwriting technology will empower consumers, whether they’re just starting their family or looking to pass assets to the next generation, with simple and sound life insurance coverage.”
The consumer-facing product suite includes Velocity Term Life Insurance and Velocity Whole Life Insurance, along with Vantis Life’s final expense product, Guaranteed Golden®, and single premium whole life product, EstateWise Platinum®.
The engagement with the customer will not end once the policy is in force, said Caucci. “Beginning this spring, we will also have a dynamic online portal, giving customers access to policy information, lifestyle content and other interactive value-added programs. We are building lifelong relationships, not transactional sales,” he continued.
Vantis Life rolled out phase one of the Velocity system earlier this month, specific to the agent population.
For more information on Velocity or to get a quote, please visit https://www.vantislife.com/.
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.
