Security Plan Announces Launch Of Critical Illness Product
Citizens, Inc. (NYSE: CIA) has announced the launch of a new Critical Illness Coverage product through its subsidiary, Security Plan Life Insurance Company.
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Rhea-AI Summary
Citizens, Inc. (NYSE: CIA) has announced the launch of a new Critical Illness Coverage product through its subsidiary, Security Plan Life Insurance Company. The product provides direct cash benefits to policyholders diagnosed with a qualifying illness, allowing them flexibility in spending on various needs, from medical expenses to everyday costs like rent and food. Security Plan, operating since 1996, aims to meet the financial needs of middle- and lower-income households in Louisiana, Mississippi, and Arkansas. This initiative reflects the company's commitment to enhancing coverage for critical life events.
Positive
- Launch of new Critical Illness Coverage product, enhancing policyholder support.
- Direct cash payments to policyholders for flexible use during critical illness.
- Addresses gaps in traditional health insurance by offering additional financial relief.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
AUSTIN, Texas, Dec. 1, 2021 /PRNewswire/ -- Security Plan Life Insurance Company ("Security Plan"), a subsidiary of Citizens, Inc. (NYSE: CIA) announces the launch of its new Critical Illness Coverage product.
Security Plan's new Critical Illness Coverage product pays benefits directly to the policyholder assist with added expenses in the event of a qualifying critical illness. The Critical Illness Coverage is unique in that a policyholder with a qualifying illness is directly paid benefits and decides where to spend the money –it's uses are flexible and can be used for anything from medical deductibles to everyday expenses such as rent, food or childcare.
Bob Mauldin, President and Chief Marketing Officer said, "This product is designed to give policyholders coverage where they need it and gives them the power to decide how they spend it. Health insurance alone is not enough to protect people when they have a critical illness. This coverage puts the dollars in their pocket when they need it the most so they can focus on more important things."
To learn more about Security Plan or its products, you can visit, https://www.citizensinc.com/about-about-us
About Security Plan Life Insurance Company
Security Plan Life Insurance Company is a member of the Citizens, Inc. group of life insurance companies. Security Plan has been operating in Louisiana since 1996 and offers final expense life insurance and limited liability property insurance policies to middle- and lower-income households in Louisiana, Mississippi and Arkansas. Security Plan sells its products through independent agents and funeral homes. The company gains additional financial stability through the long trajectory and strength of its holding company, Citizens, Inc., which adds value to each of our policies by providing state-of-the-art technology systems, strong investment strategies and streamlined operational leadership.
About Citizens, Inc.
Citizens, Inc. is an insurance holding company listed on the New York Stock Exchange under the symbol CIA. The Company utilizes a three-pronged strategy for growth based upon worldwide sales of U.S. Dollar-denominated whole life cash value insurance policies, life insurance product sales in the U.S. and final expense and limited liability property product sales in the U.S.
For further information contact:
Marketing Department
PR@citizensinc.com
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SOURCE Citizens, Inc.
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