#monumental life insurance
MONUMENTAL LIFE INSURANCE
About MONUMENTAL LIFE INSURANCE
Even ordinary life insurance sounds more impressive when it s monumental life. Monumental Life Insurance offers life insurance, annuities, accident and health, long term care, and structured settlements, among other products. A subsidiary of Dutch insurance giant AEGON, Monumental Life Insurance targets lower- and middle-income markets. It is licensed more. in all states (except New York) and Washington, DC. Monumental Life Insurance markets its products through general career agents and independent marketing groups. It also markets its final expense and funeral costs coverage through funeral directors. Many of its general agents are former military personnel who sell life insurance to service members.
AEGON has merged its Peoples Benefit Life Insurance subsidiary into Monumental Life Insurance. Peoples Benefit Life offered life insurance and annuities and offered other investment products throughout the US, so it made a good match for integration into Monumental Life Insurance, expanding that company s investment portfolio.
Monumental Life Insurance is working to streamline its operations by implementing a number of cost-cutting and efficiency measures. These include reducing the number field agents and administrative support personnel, and instead recruiting part-time, non-employee contractors and agents. It is also taking another look at its financials and working to use discipline as its motto for pricing and taking risk.
The company has a dedicated team of risk management professionals whose job is to stay abreast of economic changes, all the while following strict risk measurement and reporting and monitoring processes. If the economy changes, the risk management team s job is to make adjustments. Along with monitoring the economy, liquidity and capital are monitored closely so Monumental Life Insurance can respond quickly to changing market conditions.
The company also has expanded its Web-based offerings, providing agents with online training through a host of online tools and applications on its Web site. less