Jackson National Life Insurance Company today announced that it has entered into an agreement to acquire Reassure America Life Insurance Company from Swiss Re. and will pay $621 million in cash for the business, subject to adjustment by earnings before interest & tax – EBIT to reflect the value of the business at closing. The purchase will be financed entirely from internal Jackson resources. Reassure America will retain a portion of the SRLC business through reinsurance arrangements to be undertaken prior to completeing the transaction. The transaction is subject to regulatory approval and is expected to close in the third quarter of 2012.
On December 31, 2012 Reassure America Life Insurance Company (Reassure) was acquired by and merged into Jackson National Life Insurance Company (Jackson). All long term disability insurance and life insurance formerly handled by Reassure will now be handled by Jackson. Throughout 2013 Jackson National Life sent notice to all reassure life disability policy holders informing them of the new ownership. It is unusual that Jackson National Life purchased Reassure, as Jackson has little to no experience in the disability insurance business. It is likely that the employees of reassure life insurance will continue to manage and administer the long term life disability insurance claims for Jackson. The merger between Jackson and Reassure should not have a negative affect on any Reassure policy holders. Jackson does not have a track record of handling disability insurance claims so we will need to see what happens over the next few years.
Disability claimants are often seeking information regarding Reassure America long term disability reviews. We have created a forum where insurers can post reviews and comments about Reassure America short term and long term disability claims. Our attorneys respond to most comments posted by our visitors.
As disability insurance attorneys, Dell & Schaefer have represented numerous clients with their long-term disability claims against Reassure America and its affiliated companies. Disability Attorneys Dell & Schaefer have provided and offer the following legal services for disability claimants that have a long-term disability insurance policy or disability income policy purchased from Reassure America:
-Application for long-term disability benefits with reassurance life insurance
-Monthly claim handling of Reassure America life insurance policies claims
-Appeal of a Reassure America denial of long-term disability benefits
-ERISA appeal of an Reassure America denial of long-term disability benefits
-Lawsuit against Reassure America for denial of any insurance benefits
Lump-sum buyout of a reassure america life insurance company long-term disability insurance policy
Department of Insurance complaints against Reassure America for wrongful delay and denial of disability benefits
Call us for a free consultation to discuss your claim for disability benefits with Jackson National Life Insurance Company.
reassure america life insurance phone number – 1-877-627-3618
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SRLC is a reassured life insurance business that sits within the US division of Swiss Re’s Admin Re®. The primary operating subsidiary of SRLC is Reassure America Life Insurance Company (REALIC), which, since 1995, has completed a significant number of stock acquisitions and reinsurance arrangements through which it has acquired a diverse portfolio of traditional US life insurance business. The earnings of SRLC are derived from seasoned, long-duration cash flows generated principally from term life, whole life and basic universal life products. Jackson will acquire assets related to Reassure America valued at
approximately $10 billion and approximately 1.5 million insurance and disability policies.