Launch: Guaranteed Issue Life Insurance, Expanding Access to Financial Protection, introduced by Franklin Madison

Franklin Madison today announced the availability of Guaranteed Issue Life Insurance (GI Life), a new approach to life insurance that removes traditional barriers to coverage through guaranteed acceptance, simplified enrollment, and no waiting periods.

Franklin Madison today announced the availability of Guaranteed Issue Life Insurance (GI Life), a new approach to life insurance that removes traditional barriers to coverage through guaranteed acceptance, simplified enrollment, and no waiting periods.

Administered by Franklin Madison and issued by The Prudential Insurance Company of America, GI Life requires no health questions, no medical exams, and no review of medical records. Eligible consumers can purchase up to $50,000 in life insurance through their financial institution, with benefits paid income-tax-free to beneficiaries. The product also features no age-based reductions in benefits, helping consumers secure dependable coverage for their loved ones.

The insurance addresses a well-documented gap. One in three households would have immediate trouble paying living expenses if the primary wage earner died (*note 1). A life insurance benefit can help a family pay for funeral expenses, keep up with the mortgage or rent, cover groceries and childcare, or simply create breathing room while they navigate an extraordinarily difficult time.

"Franklin Madison is focused on helping financial institutions deliver value to their consumers while building stronger financial futures," said Andrea Heger, Chief Executive Officer of Franklin Madison.

In addition to guaranteed acceptance for eligible consumers, the product includes features that differentiate it from many life insurance offerings available today, including an accelerated benefit for terminally ill insureds that provides access to a portion of the benefit during their lifetime.

"Guaranteed Issue Life Insurance removes many of the traditional obstacles that prevent consumers from obtaining coverage. By eliminating health questionnaires and medical exams, we've created a simple, accessible solution that will help more families," said Heger.

ABOUT FRANKLIN MADISON

An industry leader with over 55 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. For more information, visit https://franklin-madison.com/ or follow us on LinkedIn.

*NOTE 1: Source: Closing the Life Insurance Gap One Household at a Time by LIMRA.

Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Booklet-Certificate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. If there is a discrepancy between this document and the Booklet-Certificate/Group Contract issued by The Prudential Insurance Company of America, the Group Contract will govern. In Washington, the controlling document is the Certificate, not the Contract. Contract Series: 83500

1093049-00001-00

Related link: https://franklin-madison.com/

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