21th May, 2008

Prudential Financial Inc. reached an agreement between its Individual Life Insurance business and UMB Financial Corporation to offer MyTerm, a new simplified issue term life insurance policy available through the Internet, to UMB customers.

Through an online automated underwriting process that can be accessed from virtually anywhere, MyTerm delivers a policy in about 10 minutes to qualified customers that can then be saved electronically or printed locally.

The buying process and service of MyTerm, which is targeted to the middle market consumer, are supported by state-of-the-art technology operating in a real-time environment. Customers choose from a 10-, 20- or 30-year level term policy with face values between $50,000 and $250,000, issued by Pruco Life Insurance Company of New Jersey that actually has offices in both New York and New Jersey.

Source : http://www.ifawebnews.com