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USAble Life: finding a niche with innovative insurance products.

USAble (pronounced U-S-Able) Life continues to grow and find a niche among the insurance community with the assistance of innovative insurance product lines. Currently, USAble Life insures over 300,000 Arkansans - over 20 percent of Arkansas' work force.

Insuring one of every five employees makes USAble Life Arkansas' largest domestic group life insurance company. A subsidiary of Arkansas Blue Cross and Blue Shield, USAble Life began in 1980 as an Arkansas based stock company chartered to write life, accident and health insurance. The company changed its name from Life of Arkansas to USAble Life in 1988 to better identify with its regional and national growth goals.

"USAble Life's growth has been phenomenal over the past 10 years," said Jim House, USAble Life president and chief executive officer. "And that can be attributed to researching, monitoring and meeting the individual customer needs of every employer and individual we serve."

In 1992, USAble Life's insurance in force increased to a record $2.47 billion; and the company again earned an "A" (excellent) rating from A.M. Best Company. Furthermore, the company has built a strong financial base with over $24 million in surplus funds. USAble Life's premium income increased 16 percent during 1992 while retained earnings increased by 20 percent.

"USAble Life realizes that health care will become more structured and regulated in the future," House said. "We are offering employers voluntary products that display a wide variety of options for their employees, thereby producing a unique niche within the insurance market." USAble Life also offers cafeteria plan administration and consulting services.

Cafeteria plans, as permitted by Section 125 of the Internal Revenue Code, allow employees to pay for certain benefits with pre-tax dollars resulting in a savings for both the employer and the employee. USAble Life has been assisting employers in the implementation of cafeteria plans since 1988.

Other USAble Life products and product lines include:

* Group Term Life and Accidental Death and Disability

* Group Long Term Disability

* Group Short Term Disability

* Universal Life

* Voluntary Group Life

* Supplemental Hospital Benefits

* Cancer Coverage

* Disability Income

* Supplemental Coverage for Seniors

* Voluntary Dental

* Cafeteria Plan Administration

"With an emphasis on voluntary payroll deduction programs and employee selection of benefits, USAble Life has marketing and enrollment teams constantly on the road," House said. "These teams assist employers and individuals in understanding every product we offer so they can more effectively choose those products that fit their individual needs."

USAble Life is licensed to sell in 11 states, most recently in Pennsylvania. Additional USAble Life sales offices can be found in Jackson, Miss., Baton Rouge, La., and Nashville, Tenn.

"The expansion efforts of USAble Life undertaken in Mississippi and Tennessee continue to produce great results, surpassing all expectations," House said. "That success is the result of planning, promoting and selling quality products that fit today's employee needs."
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Publication:Arkansas Business
Article Type:Company Profile
Date:Aug 16, 1993
Words:471
Previous Article:Arkansas Blue Cross and Blue Shield.
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