IN THE PRESS
Plano, TX and San Diego, CA – June 16, 2015 – American Century Life Insurance Company of Texas and EQUOTE.com are pleased to announce the debut of an online application written totally in Spanish. For the first time, Spanish speaking residents of Texas are now able to fully understand and apply for a life insurance policy without the need of translation.
No medical exam is required for this policy and it takes about 10 minutes to complete the application. Clients receive their policy in Spanish, via email within 24 hours, followed by a mailed copy.
The application is available at www.segurodevidatexas.com. You complete the application with no need to speak to an agent. This policy was created to pay for a person’s final expenses and burial.
According to Raz Silberman, President of American Century Life of Texas, “Our goal is to help families avoid financial hardship when death strikes. We even assist with the shipping of the body if someone wants to be buried in their home country.”
“Being able to provide this fast growing community an application and policy in Spanish is a first for the life insurance industry.” said Richard J. Wira, President of EQUOTE.com. “No other company is doing this.”
“Our online application is easy to use. No phone calls from agents, no medical exam and no problems.” said Raz. “It is that simple.”
The companies plan on expanding the product line and will add additional states outside of Texas in the near future.
Plano, TX y San Diego, CA – 8 Junio, 2015 – American Century Life Company of Texas y Equote.com están contentos en a anunciar el debut en línea de una aplicación escrita en Español. Por primera vez los residentes en Texas que hablan español prohibición a esa institución nacional coeditó todo completamente y prohibición a poder rezaba para aún sus póliza de seguro de vida, el pecado que les tengan traducir.
Las naciones unidas No se necesita examen de médico para esta sus póliza en 10 minutos usted puede completar su aplicación. Clientes reciben su sus póliza en Español a través de correo electrónico en 24 horas. Después o su copia por correo.
La aplicación está disponible en www.segurodevidatexas.com. Termine su aplicación sin tener que hablar con ningún agente. Esta póliza se hizo para poder pagar los gastos de un entierro.
Señor Raz Silberman, presidente de American Century Life of Texas, dice “Nuestro fin es darles la mano para que no tengan problemas de dinero por si alguien se muere y quiere ser enterrado en su país.”
“Ser capaz de ofrecer esta comunidad de rápido crecimiento una aplicación y la política en español, es la primera vez en la industria de seguros de vida” dice Richard J. Wira, presidente de Equote.com. “No hay otra compañía que hace esto.”
Las empresas plan de ampliación de la línea de productos y agregar otros estados fuera de Texas en un futuro cercano.
Accepting payments in bitcoins is part of American Century strategy to leverage technology in making life insurance products more accessible, and easier to buy and maintain.
“Life insurance policies are important products to our clients and can help them in the most stressful and challenging situation. We want to make sure they can pay for their policy in any way they prefer.” explained Raz Silberman, the company president and owner.
Clients can pay for their premiums in many different ways including cash, checks, bank draft, any type of credit card, and now, also with bitcoins.
American Century believes that new technologies will change the way insurance is sold, policies are serviced, and capital is pooled to manage risk.
These technologies, such as mobile and wearables, will allow the company to communicate better and more frequently with its clients and build long term relationship with them.
As innovative new tools, including bitcoins, are entering the market, American Century wants to adopt them and incorporate them into the company offering.
American Century already offers the direct purchase of policies directly on its website www.acl-tx.com, as well as through the company agents.
In the past two years, since the 75-year old company was acquired by Mr. Silberman, it added a wide range of final expense products, improved online capabilities, and many agents across Texas.
In addition to life insurance policies, the company strives to offer clients valuable products that can help them improve their health and financial wellbeing.
For example, the company already offers client ways to save large amount on their final expense costs that average around $10,000). It also offers a discounted service for clients who wants to be buried in their home country, such as Mexico.
Additional products will be added in the near future. “We want to make a difference in the lives of our policy holders and build a long term relationship with them.” Silberman said.
Terms were not disclosed of the all-cash deal through which entrepreneur Raz Silberman acquired the Plano-based business from American Century Life Insurance Company of Tulsa, Okla.
An experienced senior corporate executive, Silberman will be looking to add 1,000 agents statewide to American Century Life’s roster by the end of 2013.
“We plan to build American Century into an important insurer in the Texas market for the foreseeable future,” Silberman said. “To help us achieve that, we have put together a strong board and management team. “
American Century’s board of directors includes highly accomplished insurance executives like Bob Bowsher – who is also vice president of marketing – along with Don Walker and James Weaver. “They bring decades of industry and management experience to our company, and we are proud to have them with us,” Silberman said.
Silberman has held senior financial positions at companies like Retalix USA, Genesis Networks, Amdocs and L-3 Communications.
As president of American Century Life, he will be seeking to grow the business by offering reasonably priced life insurance policies to the large Texas population that does not need, and may not be able to afford, large policies – but still deserves to have life insurance available to protect their family.
The debt-free business is what’s known as a “stipulated premium company,” meaning it can offer its clients policies with low dollar face amounts. Those serve in many cases to cover a person’s final expenses (such as burial and medical costs,) and allow family members time to adjust to their loss.
Historically, stipulated premium companies have been focused around funeral homes, selling policies to help pay burial costs. American Century Life will continue working with funeral homes, but plans to grow beyond that niche to reach consumers through other avenues, primarily agents.
“Most people still like to talk to a company representative – which is what the agent is – when they make an important purchase such as life insurance,” Silberman said. “We are developing our strategy to build substantial distribution channels throughout Texas. The key for us is to build long term relationships with our agents and our clients.”
Under Silberman, American Century Life is already forging strong ties with agents across the state.
Take Bill Warrick, president of Dallas-based Warrick Marketing Insurance. Warrick Marketing Insurance is a “General Agency,” meaning it works with insurance carriers like American Century Life to get their products carried by the brokers and agents who in turn work directly with clients.
“The service has been excellent,” Warrick said of American Century Life. “The main thing is that American Century offers products that are needed in the field.”
American Century’s offerings not only fit what customers need, but also work well for the agents who sell the insurance as well, Warrick said. “We’ve got product after product after product,” he said.
He also praised Silberman’s approach to working with agents. “He has been right down the middle of the road. I like that,” Warrick said. “He’s going to be a straight arrow on what he does. There won’t be a deviation.”
Beyond life insurance, American Century Life is striving to offer other valuable products to its clients outside of insurance. For instance, the first product the company has rolled out is discount prescription cards. Other products are forthcoming in areas such as financial education and cost savings in health care, Silberman said.
“Our mission is to make a difference in the financial and health well-being of our clients,” he said. “We plan to hold the business for the long term.”