Trinity Life Insurance Co.
TLIC began its marketing operations in March 2007, since inception TLIC has marketed the Trinity Life Accumulator (“TLA”) in Oklahoma. The TLA is an individual life insurance policy with an annuity that provides life insurance death benefits, however the primary focus of the product is to provide living benefits through the annuity rider. The annuity rider's interest rate is guaranteed at 4%. The annuity rider is eligible to receive additional interest credits as declared by the Board of Directors. The TLA rate has increased 4 times since its debut, from 5% to 6%,
from 6% to 6.5% and from 6.5% to its current rate of 6.75%.TLIC has used the shareholder base of the parent company for leads and referrals to market the TLA in Oklahoma. It has been proven that this referral network may provide TLIC's sales representatives a competitive advantage by providing leads for quality prospects.
TLIC has experienced tremendous growth as a result of the acquisition and subsequent merger of First Life America Corporation. TLIC now operates in eight states and currently ranks third in premiums written in the State of Oklahoma for Oklahoma Domestic Life Insurers Premium income has grown from $972,547 at December 31, 2007 to $9,714,155 an increase of $8,741,608 or 899% at December 31, 2009. During the same period insurance face amount in force grew from $27,498,250 to $181,776,732 or 561%.
In December 2009 TLIC expanded its marketing personnel to aggressively pursue our goal of expanding our presence in the marketplace. Our goal for 2010 includes expansion into additional states and increasing our product line as we continue to look for suitable blocks of life insurance business or life insurance companies to acquire.
In addition to the TLA TLIC also offers the follow products:
WHOLE LIFE PRODUCTS
Golden Eagle Final Expense is permanent whole life insurance available as a simplified issue or graded death benefit policy. The simplified issue product is for issue ages 50 to 85 with a minimum death benefit of $2,500 to a maximum of $25,000. The graded death benefit product is for issue ages 50 to 80 with a minimum death benefit of $2,000 to a maximum of $10,000.
First Whole Life is a permanent whole life insurance product with guaranteed level premiums and death benefits. Issue ages are 0 (30 days) to 80. Available riders include accidental death, accelerated living benefit, waiver of premium, terminal illness and long-term care.
Value Builder is a modified payment whole life insurance policy with a flexible premium deferred annuity rider. This product is similar to the company’s TLA product. The current interest rate is 5%.
TERM LIFE PRODUCTS
First Term is a level term life insurance product that has term periods of 10, 15, 20 and 30 years. Both fully guaranteed and partially guaranteed premiums are available. Available riders include return of premium, accidental death, accelerated death benefit and waiver of premium.
First Step is a juvenile term product issued to ages 0 (30 days) to age 15. Coverage is sold in units. One unit, consisting of a single premium payment of $100, purchases $5,000 of death benefit coverage. Up to two units can be purchased on any one life. Prior to age 21, the product is convertible to a whole life policy in amounts up to five times the initial face amount.
ANNUITY PRODUCTS
First Flex I is a flexible premium deferred annuity for ages 0 to 84. The initial interest rate is guaranteed for one contract year with a minimum guaranteed interest rate of 3%. The current interest rate is 4%.
First Max I is a single premium deferred annuity for ages 0 to 90. The initial interest rate is guaranteed for one contract year with a minimum guaranteed interest rate of 3%. The current interest rate is 3.75%.
First Max III is a single premium deferred annuity for ages 0 to 90. The initial interest rate is guaranteed for three contract years with a minimum guaranteed interest rate of 3%. The current interest rate is 3.75%.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.