Federal Life Insurance Company (OTCMKTS:FLFG) Stock In Focus After Latest News
Earlier on this week Federal Life Insurance Company (OTCMKTS:FLFG) was in focus after it announced that it had gone into a partnership with insuretech leader Reframe Financial and worldwide reinsurer Swiss Re. By way of this partnership, the company would offer the Reframe LifeStage product.
Trading Data
On Wednesday, FLFG stock ended flat at $10.50 with 200 shares, compared to volume of 526 shares. The stock moved within a range of $10.50 – 10.50 after opening trade at $9.65.
Federal Life Partners with Swiss Re and Leading Insurtech Company to Bring a New Digital-First Insurance Solution to Market
The product is a newly minted insurance plan which is specifically targeted at millennial and generation X employees. It was noted that the product would offer customers with a digital front door so that they can get higher financial security. The product would offer families with a hybrid policy which would provide Indexed Universal Life Insurance features and also a long term care benefits element.
Additionally, the product is going to be completely digital and it would be easy and fast to buy, so as to take the busy lives of the younger generation into consideration. The policy is also expected to evolve and grow over the course of time in order to meet the evolving needs of the customers.
Federal Life launched the product into the market in the form of a six month soft launch period and limited it to a select number of distributors. Later on this year the product is going to be made available more widely.
