Simplicity Group and F&G Life Launch “ExecuDex”, Bringing InstApproval and Funding Bonus to Consumers
SUMMIT, N.J., April 22, 2021 /PRNewswire/ -- Simplicity Group ("Simplicity"), in partnership with Fidelity & Guaranty Life Insurance Company ("F&G"), is pleased to announce the launch of F&G ExecuDex ("ExecuDex"), a new Fixed Index Universal Life Insurance product that provides great consumer value and the opportunity to get immediate life insurance coverage. ExecuDex features real-time underwriting, which allows consumers to provide their families with instant peace of mind as F&G's newly launched InstApproval(SM) can provide qualified applicants with an instantaneous coverage decision without additional underwriting required beyond the application process. ExecuDex was released in April and is exclusively available through Simplicity Group operating subsidiaries.
"The launch of ExecuDex marks an exciting time for consumers, our agents and advisors, and the entire Simplicity Group," stated Bruce Donaldson, Simplicity's President and Chief Executive Officer. "Our mission is to deliver easy-to-understand and easy-to-access financial products that provide great consumer value. When our life insurance marketing team embarked on the journey of designing ExecuDex, they focused on addressing the needs of the client first and, with the addition of F&G's InstApproval(SM), we know ExecuDex will deliver great value immediately."
"ExecuDex virtually changed the issuance of life insurance overnight," said Brian Schneier, Executive Vice President of Life Marketing at Simplicity Group. "Through our partnership with F&G, we are actively advancing technologies and developing groundbreaking products so that our advisors, agents and their consumers get the value they deserve at the time when they need it most: immediately."
F&G will support ExecuDex with enhanced processing capabilities, allowing for increased efficiencies throughout the distribution channel from insurance carrier to end user. The product also provides a streamlined authorization process called InstApproval, which deploys an immediate coverage decision to the consumer-client, after the digital application and brief interview is completed. ExecuDex does not require a medical examination.
"Today's consumer expects to be able to purchase products digitally and instantaneously. Historically, the life insurance purchase process has trailed significantly in meeting that demand, especially permanent insurance plans," said Steve Sanders, Senior Vice President of Life Distribution at F&G. "With ExecuDex we've created the first instant approval process for indexed universal life insurance where agents and clients will be able to obtain immediate underwriting approval via the digital application without sacrificing long-term performance and cash value accumulation."
F&G ExecuDex is available to consumers through Simplicity operating subsidiaries' affiliated financial advisors and independent insurance agents.
F&G* is part of the FNF family of companies. F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa. For more information, please visit: fglife.com.
About the Simplicity Group
Simplicity Group has acquired and owns 22 distribution businesses and is one of the nation's largest and fastest growing financial product distribution companies. Simplicity provides annuity, life insurance, and investment solutions to independent insurance professionals, financial advisors and their clients through its operating subsidiaries. For more information about Simplicity, please visit: www.simplicitygroup.com.
*"F&G" is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
Alex Timeus, Director of Communications
SOURCE Simplicity Group
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