By Harald Borrmann
President and Chair
I am, however, talking about something that only a true insurance nerd would get excited about…mortality tables.
Mortality tables are compiled by actuaries to help insurance companies plan how to price their life insurance products. They estimate the lifespan of folks at different ages. Every 5 years or so, the mortality tables used to make pricing assumptions get updated.
What does this mean for Catholic United? It means that we are in the midst of re-pricing all of our life insurance products to make sure we are using these mortality tables. This means that we can be confident that our prices are as competitive as possible in today’s insurance world. Earlier this month, we unveiled our new term life insurance products (including our newest Youth Term product, which, for many folks, is the first insurance product they get from Catholic United). Our Sales Reps are very excited about the new portfolio of 15-, 20- and 30-year term products. In the coming year, we will be developing a new portfolio of permanent life insurance products on a Universal Life and a Whole Life basis. We are truly enthused about this chance to modernize our life insurance offerings with options (we used to call options “bells and whistles”) that our Sales Reps and members have been asking for in recent years.
The creation of these new products, along with our Medicare Supplement Insurance product, is another demonstration of how our great Association continues to remain relevant in an ever-changing financial services environment.
Before I close, I want to add a word of thanks to all the delegates, guests, staff and outside speakers who helped deliver another amazing Convention. I want to particularly thank our delegates for the helpful and constructive discussions we’ve had the past few years as we charted a new course for our Convention. Your input was excellent and resulted in our more clearly laying out plans for our Regional Member Gatherings, which will be held in the “off-years” between what will become known as Triennial Conferences.
Nate Lamusga and his Member Engagement team are already hard at work putting together ideas for how best to plan these Regional Member Gatherings. Don’t be surprised if he contacts you and asks for your ideas. Member Gatherings will be all about our members and we want to plan content that will appeal to Council and PVT officers, members and – hopefully – non-members interested in learning more about Catholic United’s rich legacy of giving.
Truly, every step and on every journey, we’re there for life!
Hedge stuff goes here.