Kasasa®, an award-winning financial technology and marketing provider, has collaborated with Protective Life Insurance Company (Protective) to enable community financial institutions to offer flexible life insurance that can save consumers up to 31% on coverage compared to its competitors.
Through this association, Kasasa banks and credit unions will be able to offer life insurance within Kasasa Care™, an online marketplace and referral program developed to offer non-interest income partner products and services that have proven to be beneficial to consumers. Community financial institutions will be able to meet customers’ unique life insurance needs with a number of coverage options that can be added onto employer-provided coverage, low, flat premiums and a streamlined approval process. Additionally, customers can upgrade to permanent life insurance up to five years before their initial policy ends.
"Protective is excited to partner with Kasasa to offer simplified issue term coverage through Kasasa Care," said Jeff Hackett, Managing Director of Affinity and Direct Channels at Protective. "Life insurance is an important part of a healthy financial plan across a wide range of ages, incomes and stages of life. We look forward to protecting families and keeping this promise as we've done for more than a century."
Most life insurance policies require lengthy application processes and medical exams, causing delays in getting the protection needed. The Protective Series Simplified Issue Passport term is a quick and easy way to apply for up to $250,000 in term life insurance. In place of a medical exam, Simplified Issue allows customers to apply for coverage by answering medical questions over the phone.
"Life insurance is an investment in your family’s future, but many of us don’t have enough," said Keith Brannan, CMO of Kasasa. "We are thrilled to participate with Protective to enable Kasasa banks and credit unions to help customers provide for their future at a rate that lets them live to their fullest today. By offering products that existing and potential customers value, community financial institutions can deepen customer relationships while better positioning them to compete for their fair share of the market."
Kasasa selected Protective because of its mission and ongoing commitment to serving people and doing the right thing for employees, distributors, and most importantly, customers. The company’s willingness to innovate, offer sales support and provide excellent customer service also made it a valuable partner. Protective has provided protection to families for more than 110 years through life insurance, asset protection and retirement products.
About Protective Life Corporation
Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. Protective traces its roots to its flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,000+ employees work across the United States. As of September 30, 2020, Protective had assets of approximately $125 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750). For more information about Protective, please visit www.Protective.com.
Based in Austin, Texas, Kasasa® is a financial technology and marketing provider committed to driving results for over 900 community financial institutions by attracting, engaging, and retaining consumers. Kasasa does this by providing innovative banking solutions that increase loan volume and non-interest income to help drive immediate sources of revenue in a low-rate environment. Its branded retail products, world class marketing, and expert consulting enable community banks and credit unions to recapture market share. For more information, please visit www.kasasa.com, or visit them on Twitter or LinkedIn.
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