JERSEY CITY, NJ, Aug. 31, 2022 (GLOBE NEWSWIRE) — M Financial Group, a leading financial services and distribution company, and Pacific Life, a leading global insurer, will support the Verisk FAST platform to create a new life insurance product. with flexible options and pre-planned tax policies designed for high-net-worth individuals.
The new product – a flexible-premium survivorship variable universal life (SVUL) policy – is the first of several releases that will combine the power of FAST with the new M Vision platform of M Financial, a digital ecosystem bringing high-quality insurance to the market.
“By developing this plan with FAST and Pacific Life, we’ve helped address some of the challenges that tax laws can create for high net worth individuals,” said Dave Kittredge, Vice President, Business Strategy Partner at M Financial. “We’ve created a platform where further innovation can take place with new offerings for customers who need flexible, intelligent solutions. Now we have a way to accelerate our speed to market with our partners, a strong digital environment and a single interface to our backend systems.”
The flexible-premium SVUL product, available through M Member Firms, is a second-death policy with benefits payable upon the death of the survivor. It has multiple investment options, no investment costs and an irrevocable lifetime guarantee.
“The demand for FAST is high, as our partnership with M Financial and Pacific Life shows,” said Tom Famularo, managing director at Verisk and co-founder of the FAST platform. “We come together with insurers, brokers and wholesalers to help solve their biggest financial challenges at any given time.”
To support life insurers throughout the life cycle, Verisk has developed solutions that leverage advanced analytics, machine learning and existing and emerging technologies. Its solutions are designed to help revolutionize the way life insurance is written, life and pension analytics, data intelligence, tracking and fraud detection and credit and history.
Find out more about Verisk life insurance solutions.
Verisk (Nasdaq: VRSK) provides data-driven analytics and solutions for the insurance and energy industries. Through advanced data analysis, software, scientific research and deep industry knowledge, Verisk empowers clients to improve operations, improve records and results, combat fraud and make informed decisions on global issues, including climate change and catastrophic events and politics. and ESG. heads. With offices in over 30 countries, Verisk regularly receives certifications and A Good Place to Work and encourage a including culture where all team members feel they belong. For more information, visit Verisk.com and Verisk Newsroom.
Opinions of the company M Financial Group
With over 135 Member Companies in 36 states and the United Kingdom, M Financial Group is one of the leading companies in the development and distribution of financial services in the country. Since 1978, our network of independent insurance, business, and large benefit firms has served the needs of high net worth individuals, corporate executives, successful businesses, and Fortune 1000 companies. To learn more about M or to find an M Member Firm, visit www.mfin.com.
About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a variety of life insurance products, annuities, and mutual funds, and provides a variety of products and services to individuals, businesses, and pensions. plans. Whether your goal is to protect your loved ones or grow your wealth in retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the US 100 largest corporations as its clients and was named one of the 2022 World’s Most Ethical Companies® by the Ethisphere Institute. For more information about the company, including available financing options, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its subsidiaries, including Pacific Life & Annuity Company. Customer ratings as of June 2022 were compiled by Pacific Life using the 2022 FORTUNE 500® list.