Submitted By: | John Harris |
---|---|
Status | New Business |
Short Title of the Issue: | USAA Affinity Agreement |
Summary Discussion of the Issue: | This may be solved by the time you get to the EC meeting, but for discussion purposes: Here is my suggestion(s) on the language that will allow us to exclude certain Life Insurance Providers from the Affinity Exclusivity Agreement that that we currently signed with USAA: Option 1 – Allow current Underwriters of SSLI only: USAA recognizes that State Sponsored Life Insurance Programs, and such Group Term programs exist in every chartered Association under EANGUS. Further, USAA recognizes that EANGUS needs to have a relationship with the providers of such programs, and to that end, USAA will allow EANGUS to accept Corporate Partnerships, Sponsorships, and Donations from Life Insurance Providers who currently underwrite such State Sponsored Life Insurance programs. Option 2 – Allow any Group Term provider and current Underwriters of SSLI: USAA does not provide Group Term Life Insurance Products and therefore does not have exclusivity over such products. EANGUS is able to accept Corporate Partnerships, Sponsorships, and Donations from Life Insurance Companies that provide Group Term Life Insurance Products. If USAA offers a Group Term Life Insurance Product in the future, USAA would then be the exclusive provider of such products under the current agreement. Exempt from this provision would be those providers who are underwriters of any State Sponsored Life Insurance Program. EANGUS needs to have a relationship with the providers of such programs, and to that end, USAA will allow EANGUS to accept Corporate Partnerships, Sponsorships, and Donations from Life Insurance Providers who currently underwrite such State Sponsored Life Insurance programs. Option 3: Allow any Group Term provider and current Underwriters of SSLI, even if they also offer Individual Life Insurance: EANGUS agrees that Individual Life Insurance is a product that is exclusive to USAA under the current agreement. EANGUS will be able to accept Partnerships, Sponsorships, or Donations from companies that offer products that are not exclusive to the USAA agreement, even if that company provides Individual Life Insurance Products. EANGUS cannot mention or provide access to company information regarding any product that exclusive to USAA under the agreement. EANGUS may engage with providers of Group Term Life Insurance Products up to and until USAA offers such products. Exempt from this provision would be those providers who are underwriters of any State Sponsored Life Insurance Program. EANGUS needs to have a relationship with the providers of such programs, and to that end, USAA will allow EANGUS to accept Corporate Partnerships, Sponsorships, and Donations from Life Insurance Providers who currently underwrite such State Sponsored Life Insurance programs. |
Uploaded File (optional) | USAA-Affinity-Agreement.pdf |