With over 30 years of experience in marketing insurance to financial
institutions, we are in a position to provide a wide array of Commercial
Insurance markets to cover the Bank's own insurance needs. Our company
affiliations and our volume of production mandates competitive rates as
well as top quality of insurance products to our partners and clients. By
providing the Bank's own insurance through the Agency affiliation, the
Bank is assured that their "partner" will truly act in the Bank's
Insurance and Force Place Coverage:
We are in a position to provide R.E.O.
Insurance coverage and Force Place Coverage from many different carriers
under different policy structures thus providing coverage that best
suits the Bank's needs. We can provide "stand alone" coverage, add
on to the Bank's package policy coverage and unique hard to place
R.E.O. insurance coverage for such things as aircraft, boats and other
objects and structures which have been repossessed by the Bank. Standard
coverage is up to $20,000,000. And liability coverage up to $20,000,000
on a "set rate basis". Coverages beyond these limits are also
available on an "as needed basis".
We will offer Homeowners Insurance to all new mortgagors, other Bank
customers as well as the general public. A well defined marketing
process is available utilizing computerized illustrations, and
telemarketing follow-up by licensed representatives. The availability of
many carriers assures your customer obtains the coverage needed at a
competitive price. Experienced licensed representatives will be
available to provide your customers with the service they need.
Besides offering Homeowners Insurance to your customers, we provide a
full line of personal insurance products including: Fire, Automobile,
Motorcycle, Excess Liability, Boat Insurance and more.
Term Insurance and Cash Value Insurance:
Term Insurance products and Cash Value Life
Insurance products could be marketed to customers of the bank on a mass
mailing basis with all leads being handled by licensed agency or Davis
This unique program enables C.D., passbook and
other saving account customers to utilize some of the assets and/or
income from their savings programs to purchase life insurance. The
periods of time that premiums are paid to this program are limited. The
policy is structured to continue for as long as the customer chooses
with a full refund of premium available after a given number of years.
The policy provides coverage for those customers who need it,
particularly your elder customers. The program elongates the
relationship of the customer with the bank.
Premium Life Insurance:
The Agency would be in a position to offer a Single Premium Life
Insurance policy to customers who are concerned about passing on assets
to their heirs, tax-free. The policy eliminates probate and thus puts
the monies in the hands of the receiver much quicker. The unique
characteristics of Single Premium Life Insurance are that the one time
premium is always fully refundable at any time to the policy owner. The
insurance can be placed in effect for an unlimited number of years with
complete refund of premium at any time. Participants would be provided
with a complete outline of the policy provisions.
Term Health Care (Nursing Home Insurance):
Long Term Health Care (Nursing Home Insurance) is a product that is
rapidly being accepted by senior citizens as a necessary insurance
product. Basic hospitalization or Medicare does little, if anything, to
provide coverage for this very expensive exposure. As General Agent for
a number of companies, we can propose a "Lifetime Benefit
Program" at very competitive rates to customers ages 50 and over.
The average sale is $800.00 per applicant, resulting in a double sale to
husband and wife.
Premium Deferred Annuities (SPDA):
Annuities are an insurance company product that are being marketed to
bank customers by many financial institutions. This product protects the
bank from losing funds to outside investment sources. The average
annuity customer is age 60 and over and the average annuity sale is
$12,000. Sales to be generated would be determined by bank management
each year. Annuities are readily accepted by bank customers when
marketed by the bank.
Over $12 billion of Annuities are sold each year through banks to their
customers and there is over a trillion dollars of Annuities outstanding.
Many bank customers currently have annuities that were purchased
elsewhere and are in need of up to date information, rate comparison to
the current market and general servicing of their existing annuities.
This program would provide a licensed representative to provide aid and
service to these customers. The Agency can provide an exchange to a
higher rate annuity without tax penalty and thereby generate annuity
commissions to the Agency with all sales being termed as "outside
money". The Annuity Exchange program can place the bank in the Annuity
business without marketing annuities to their existing C.D. and other
Payroll Deduction Automobile and Homeowner Program:
Agency can offer an Employee Payroll Deduction
Automobile and Homeowner Program that would provide a discount on
both products to employees who voluntarily participate. This program
enhances employee relationship with the bank. Coverage can continue on a
direct bill basis for departed employees
Health and Individual Health Insurance:
We are able to provide large and small group Health Insurance as well as
Individual Health Insurance to the bank and your customers through the
major market players in the Health Insurance industry.
Insurance and Optional Mortgage Insurance Programs:
We offer Credit Insurance Programs for both fixed
and revolving loans. We also offer Group Mortgage Life, Disability and
Accident and Health Programs.
Anthony R. Davis Agency
200 E. Grove Street, P.O. Box P
Westfield, New Jersey 07091-0914
Phone (908) 233-8040 Fax (908) 233-6414
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