ABA Bank Marketing - Banks and Life insurance
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Banks and Life insurance: Despite the 1999 passage of legislation that removed the barriers to bank and life insurer affiliations, the sale of life insurance products through banks in 2003 represented only 4.6 percent of total premiums written, according the American Bankers Insurance Association. Now the American Council of Life Insurers (ACLI), Washington, D.C., together with other partners has issued a report, entitled, “Catalyst for Change: Next Steps in Bridging the Cultural Divide Between Banks and Life Insurers,” which recommends ways to increase the sale of life, disability and long-term care insurance through banks.
