Companies Collaborate to Develop Products Designed Specifically for
High-Net-Worth Market
NEW YORK & PORTLAND, Ore.--(BUSINESS WIRE)--
TIAA-CREF Life Insurance Company (TIAA-CREF Life) and M Financial Group
(M Financial) today introduced the first three products in the M
Intelligent Series, a portfolio of life insurance offerings available
exclusively to the clients of M Financial Member Firms.
The three new products – M Intelligent Variable Universal Life
Accumulator, M Intelligent Variable Universal Life Protector and M
Intelligent Universal Life – are designed for high-net-worth clients and
will be sold exclusively through M Financial and its affiliated licensed
producers. The products were created specifically to address the
sophisticated financial and estate planning needs of M Financial clients.
Today’s announcement underscores TIAA-CREF’s commitment to help clients
achieve financial well-being through different life stages and with
varying financial needs.
“We’re combining TIAA-CREF Life’s insurance expertise with M Financial’s
mortality, persistency and expense experience, which all outperform the
life insurance industry1,” said Tony Garcia, president and
CEO of TIAA-CREF Life. “Our new products are highly competitive across a
range of scenarios and backed by the strength and stability of TIAA-CREF
Life. We’re excited to help a new group of clients protect what matters
most.”
TIAA-CREF Life also provides a variety of dedicated resources to support
M Financial’s Member Firms such as sales and marketing support,
underwriting and policyholder service.
Fred Jonske, president and CEO of M Financial, said: “As TIAA-CREF
Life’s exclusive third-party distributor of commissionable life
insurance products, this partnership enables us to continue to deliver
significant value to those clients who have placed their trust in our
Member Firms. These initial product offerings – which were specifically
designed for our clientele – are consistent with the needs of our
customers and provide a strong foundation for achieving our shared
objectives going forward.”
Today’s announcement builds upon TIAA-CREF Life’s and M Financial’s
exclusive agreement, announced in October 2011.
About TIAA-CREF Life Insurance Company
TIAA-CREF Life Insurance Company is a wholly owned subsidiary of
Teachers Insurance and Annuity Association (TIAA), part of the TIAA-CREF
group of companies. For its stability, claims-paying ability and overall
financial strength, TIAA and TIAA-CREF Life2 hold the
highest ratings currently awarded from all four leading independent
insurance industry ratings agencies to insurance groups in the United
States.3TIAA-CREF is a Fortune 100 financial services
organization that is the leading retirement provider for people who work
in the academic, research, medical and cultural fields.
About M Financial Group
With more than 130 Member Firms in 36 states and Canada, M Financial
Group (www.mfin.com)
is one of the nation’s leading financial services design and
distribution companies. Since 1978, M Financial’s network of independent
insurance, investment, and executive benefit firms has served the needs
of ultra-affluent individuals, corporate executives, successful
entrepreneurs and Fortune 1000 companies.
Investment, insurance and annuity products are not FDIC insured, are
not bank guaranteed, are not deposits, are not insured by any federal
government agency, are not a condition to any banking service or
activity, and may lose value.
You should consider the investment objectives, risks, charges and
expenses carefully before investing. Please call 855-300-5678 or log on
to www.tiaa-cref.org
for the contract and underlying funds prospectuses that contains this
and other information. Please read the prospectuses carefully before
investing.
TIAA-CREF Individual & Institutional Services, LLC, member FINRA,
distribute securities products. Life Insurance is issued by TIAA-CREF
Life Insurance Company, 730 Third Avenue, New York, NY 10017.
1 Source: Society of Actuaries Individual Life Experience
Report (2010), Moody’s Statistical Handbook for Life & Health (2010) and
M Financial Group.
2 Insurance products are available through TIAA and TIAA-CREF
Life Insurance Company, each of which is responsible for its own
financial obligation.
3 For its stability, claims-paying ability and overall
financial strength, TIAA currently holds the highest possible ratings
from the four leading insurance company rating agencies: A.M. Best (A++
as of 4/12), Fitch (AAA as of 2/12), Moody's Investors Service (Aaa as
of 12/11) and Standard & Poor's (AA+ as of 5/12). Per S&P criteria, the
downgrade of U.S. long-term government debt limits the highest rating of
U.S. insurers to AA+ (the second-highest rating available). There is no
guarantee that current ratings will be maintained. Ratings represent a
company’s ability to meet policyholders’ obligations and do not apply to
variable annuities, mutual funds or any other product or service not
fully backed by TIAA's claims-paying ability.
C5033
TIAA-CREF
Jeannine DeFoe, 212-913-3501
jdefoe@tiaa-cref.org
or
M
Financial Group
Jacob Boston, 503-414-7296
jacob.boston@mfin.com
Source: TIAA-CREF Life Insurance Company and M Financial Group
| Copyright: | Copyright Business Wire 2012 |
| Wordcount: | 741 |
