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Liberty National Announces Nationwide Expansion in Voluntary Worksite Markets
May 25, 2010
MCKINNEY, Texas, May 25 /PRNewswire-FirstCall/ -- Liberty National Life Insurance Company, a subsidiary of Torchmark Corporation (NYSE: TMK), today announced a major strategic initiative to open 50 new company-sponsored distribution offices nationwide in the Voluntary Benefits Worksite and Senior Markets.
LIBERTY NATIONAL'S VOLUNTARY BENEFIT SOLUTIONS
"Workers and employers may be able to enjoy tax savings by purchasing qualified Section 125 life and supplemental health insurance plans, at no direct cost to the employer," Andrew W. King, President & Chief Marketing Office of Liberty National commented. "Tax savings from Section 125 qualified products are a win-win for employers and employees alike. Liberty National offers voluntary worksite payroll deduction coverage nationwide to employers with as few as 5-10 employees, with cases ranging to 50,000 employees or more."
Liberty National's portfolio of worksite products includes: Group Term Life Insurance, Accidental Death Insurance, Whole Life Insurance, Cancer Insurance, Hospital Intensive Care Coverage and Critical Illness Coverage. Liberty National has also recently introduced a Senior Market product line.
About Liberty National:
Founded in 1900, Liberty National Life Insurance Company has been a leading provider of life and health for 110 years. As a subsidiary of Torchmark Corporation, Liberty National is headquartered in McKinney Texas, tracing its origin back to 1900 when its predecessor was founded as the Heralds of Liberty, a fraternal organization. In 1929 Liberty National was incorporated as a stock company.
Liberty National's 110 year history has resulted in an A+ (Superior) Financial Strength Rating by A.M. Best Company. According to A.M. Best, the rating of Liberty National Life Insurance Company reflects the company's strong earnings, favorable capitalization, and high credit quality bond portfolio. This rating also acknowledges the strong financial support of Torchmark Corporation and Liberty National's established position. For more than 30 consecutive years, Liberty National has earned the A+ (Superior) Financial Strength Rating from A.M. Best Company (as of 06/09).
Liberty National is also rated AA- "Very Strong" for Financial Strength in claims paying ability by Standard & Poor's (as of 06/09).
Additionally, Liberty National Life has once again been recognized as one of the leading insurance companies in America as one of Ward's 50 Benchmark Group of life-health insurers based on safety, consistency, and performance.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements within the meaning of the federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Accordingly, please refer to Torchmark's cautionary statement regarding forward-looking statements, and the business environment in which the Company operates, contained in the Company's Form 10-K for the year ended December 31, 2009, and any subsequent Forms10-Q on file with the Securities and Exchange Commission and on the Company's website at www.torchmarkcorp.com on the Investor Relations page. Torchmark specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
SOURCE Torchmark Corporation
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