Jefferson Pilot Financial Announces Expansion in Life Insurance Marketplace

GREENSBORO, N.C., Oct. 3 /PRNewswire-FirstCall/ -- Jefferson Pilot Financial, one of the nation's leading providers of universal and variable universal life insurance, fixed annuities and employee benefits, today announced that it is expanding its life insurance product portfolio to reach a new group of customers - the mass affluent.

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Jefferson Pilot's products traditionally have filled the financial planning needs of affluent consumers. Jefferson Pilot's expanded line of products and customer support will be tailored to consumers with annual household income between $75,000 and $200,000 and/or a net worth of up to $2.5 million.

Dennis Glass, President and Chief Executive Officer, said the expansion will be an important part of Jefferson Pilot's growth plans.

"This is a great opportunity to enhance the top line of our individual life business and create shareholder value," Glass said. "Jefferson Pilot is well positioned to gain market share quickly thanks to our investments in technology, a superior reputation, excellent financial strength ratings and effective expense management."

Warren May, Executive Vice President - Marketing and Distribution, said the expansion complements Jefferson Pilot's focus of serving the needs of high net-worth individuals and businesses, and creates significant sales opportunities for insurance professionals and planners affiliated with Jefferson Pilot.

"With our focus on both the affluent and mass affluent markets, we are providing two distinct platforms with unique products, sales tracks, client material and needs analysis tools, all of which are accessible by insurance professionals through a single Jefferson Pilot Financial contract," May said.

A new suite of competitively priced term and universal life insurance products is being offered initially. Mark Konen, Executive Vice President - Life and Annuity Manufacturing, said the products are designed to provide financial security to a larger market segment.

"With value-added features, fast policy processing times and competitive pricing, the products offered under our expansion create another comprehensive and exciting program that allows us to serve a broader range of consumer needs," Konen said.

Jefferson-Pilot Corporation, a holding company , is one of the nation's largest shareholder-owned life insurance companies. Jefferson Pilot's life insurance and annuity companies, principally Jefferson-Pilot Life Insurance Company, Jefferson Pilot Financial Insurance Company, and Jefferson Pilot LifeAmerica Insurance Company, together known as Jefferson Pilot Financial, offer full lines of individual and group life insurance products as well as annuity and investment products. Jefferson-Pilot Communications Company owns and operates three network television stations and 18 radio stations, and produces and syndicates sports programming. Additional information on Jefferson-Pilot can be found at http://www.jpfinancial.com/.

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