Printer Friendly

PROVIDENT AMERICAN CORPORATION EXPANDS MARKETING OF PRE-NEED FUNERAL INSURANCE AND LAUNCHES TWO NEW PRODUCTS FOR THE SENIORS MARKET

 NORRISTOWN, Pa., Oct. 27 /PRNewswire/ -- Provident American Corporation (NASDAQ: PAMC) announced today that by March 1994, nine new regional managers will be added to the four already in place to sell pre-need funeral insurance. Four of the nine new regional managers will be in place by year end.
 PAMCO also announced it has launched a final expense policy with a Retirement Deposit Fund rider and to be followed early next year by an annuity rider. These products are sold through independent brokers with 50,000 insurance salespeople underneath them.
 Mitch Kalish, president, said, "The final expense product, targeted at a slightly lower age bracket, provides funding for post-mortem expenses such as car and credit card debts. It supplements our pre-need funeral insurance."
 Al Clemens, chairman and CEO of Provident, said, "Our highly experienced regional managers will finance the start-up of the new territories and will be compensated purely on commissions and a stock option plan based on production. We are aggressively pursuing insurance products for the seniors market, which offers exceptional growth opportunities. One third of the population will be 65 or older by the year 2000. We will continue to add insurance products for seniors, including the introduction of dental insurance and home healthcare insurance in 1994."
 Provident American Corporation is an insurance holding company selling specialized niche products concentrating on prefunded funeral planning and insurance policies for seniors.
 /delval/
 -0- 10/27/93
 /CONTACT: Anthony R. Verdi, CFO of Provident American, 215-279-2500, or Melissa Wilmoth of Cameron Associates, 212-644-9560, for Provident American/
 (PAMC)


CO: Provident American Corporation ST: Pennsylvania IN: INS SU: PDT

MJ-LJ -- PH018 -- 7248 10/27/93 11:41 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 27, 1993
Words:274
Previous Article:FEDERAL HOME LOAN BANK OF PITTSBURGH REPORTS INCOME AND LOAN INCREASES
Next Article:HERCULES INCORPORATED DECLARES DIVIDEND
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters