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| Newly formed in 2006, the Life Division merged AFAmeriLife® (AFAL) and our Latin
America Life Insurance markets to focus on one primary objective: Providing exceptional
value and service to our agents, Customers, Colleagues and company.
With an emphasis on risk management, we assure that we manage
to our profit objectives, while maintaining a service focus. Our Latin America market
consists of upper-income residents of Latin America looking to protect their families
and businesses with dollar denominated life insurance products through AFA and
American Fidelity International (Bermuda), Limited (AFIBL). The Life Division's U.S.
market focus is on the financial protection of Middle America through individual life
insurance sales. Our staff, many of whom are bilingual, is focused on providing
high-touch service to our producing agents and Customers with back-office efficiency
designed for processing speed and accuracy.
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| 2006 added great efficiencies to our service models as we fully integrated AFAL
and our Latin America operations, resulting in substantially reduced costs.
Serving more than 115,000 Customers world wide, we were able
to protect families and businesses by paying more than $60 million in total life
insurance claims.
Divisionally, issued annualized premium from our life sales grew, including
considerable growth in our Latin America market, marking our second consecutive
top sales year with a 30 percent increase over 2005 results.
Recognizing the need to make it easy to do business, we also implemented quick
issue underwriting with a simplified application, electronic data base confirmations
and third party phone interviews for our U.S. market. Enhancing our product
offerings in 2006 with continued progress in 2007, the Life Division is setting
the stage for strong sales in the future.
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| Our 2007 goals will focus on product development. We plan to roll out at least
six new products, including the development of several versions of a product concept
that will provide lifetime income protection to the surviving beneficiary in a
cost-effective manner.
Other product rollouts for the U.S. market include a new whole
life product focusing on the senior market, a flexible benefit participating life
product and a universal life product designed for our Latin America market.
Other 2007 initiatives will further streamline and enhance our processes as we
continually strive for more timely and accurate service to our field and Customers.
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