BRENTWOOD, Tenn.--(BUSINESS WIRE)--Franklin Madison, a leading provider of insurance solutions for financial institution consumers, is excited to announce the launch of SimplyTerm® Flex Life Insurance by Prudential.1 By prioritizing flexibility and accessibility, SimplyTerm Flex empowers consumers by allowing them to make adjustments to their life insurance policy as circumstances change.
Currently, nearly half (44%) of U.S. households face financial hardship within six months of losing a wage earner2. SimplyTerm® Flex offers peace of mind, providing reliable coverage at a competitive cost.
“SimplyTerm® Flex is a valuable addition to our insurance protection portfolio,” says Robert Dudacek, CEO of Franklin Madison. “It allows us to offer bank and credit union customers a wider range of choices to safeguard their families throughout life's different stages.”
This flexible insurance enables families to adjust their coverage. With SimplyTerm® Flex, consumers have the freedom to increase their coverage amount as circumstances change. Examples include welcoming a new child or purchasing a new home.
For those experiencing temporary financial difficulties, SimplyTerm® Flex offers the option to lower premiums to $1 per month for up to six months.3
During challenging periods, this can provide a much-needed financial cushion.
SimplyTerm® Flex offers the following features:
- Coverage options: $25,000 to $1 million, from 5 to 20 years
- Guaranteed, level rates: Coverage costs won't increase
- Available for ages 18-65
- No medical exams or bloodwork required4
- Fast and easy enrollment: Apply in minutes and receive a quote in seconds
This innovative insurance was created by the U.S. Individual Life Insurance business of Prudential Financial. Prudential Financial is a global financial services leader with nearly 150 years of experience.
“SimplyTerm Flex is an exciting example of Prudential and Franklin Madison working together to expand access to insurance solutions and help more customers build financial resiliency and protect their families for years to come,” says Cristiane Chiacchio, head of Simplified Solutions at Prudential.
About Franklin Madison
An industry leader with over 50 years of experience, Franklin Madison builds financial security for individuals and families by delivering industry-leading insurance products and marketing services through its brand partners. Franklin Madison helps generate increased loyalty and revenue for more than 3,500 financial institutions. Based in Brentwood, Tennessee, Franklin Madison has approximately 240 employees. For more information, visit franklin-madison.com or follow us on LinkedIn.
1 SimplyTerm® Flex is issued by Pruco Life Insurance Company, a Prudential Financial company located in Newark, NJ.
2 2022 Insurance Barometer Study by Life Happens and LIMRA. (March 2022)
3 Feature may be used one time for six months during the life of your policy. The Financial Hardship Feature is available after the policy has been put enforce with the first premium payment (month two if paying monthly, year two if paying annually). This benefit is no longer available once the policy enters its final year. See policy documents for details.
4 Issuance of the policy will depend upon answers to health questions within the application and third-party data.
