1. Washington National launched Individual Term Life Insurance for underserved families. 2. Life insurance coverage is low among workers earning less than $50,000. 3. New policy features flexible terms and essential rider options for coverage. 4. CNO aims to close financial protection gaps with accessible solutions. 5. Guaranteed rates enhance affordability for policyholders over time.
The introduction of a new product addressing an underserved market suggests growth opportunities. Similar past launches have boosted stock performance by increasing market engagement.
The launch targets a significant market gap, potentially increasing CNO's customer base and revenue streams.
The sustained interest in affordable insurance policies may improve CNO's market position over time, as financial security awareness grows.
CARMEL, Ind., June 23, 2025 /PRNewswire/ -- Washington National Insurance Company, a national provider of supplemental health and life insurance products for middle-income Americans, has introduced today its new Individual Term Life Insurance (ITL). This product is an easy-to-understand solution designed to help underserved workers and families achieve financial security, offering key benefits such as the option to receive money back through an optional rider.
"Life insurance ownership rates remain alarmingly low among workers earning less than $50,000 annually, with only 31% reporting they have coverage1," said Richard Shaffer, senior vice president of Worksite Sales. "This highlights a significant gap in financial protection among lower-income groups, underscoring the need for accessible and affordable life insurance solutions. Our Individual Term Life Insurance is specifically designed to close these gaps and provide affordable financial protection for families who need it most."
With death benefit options ranging from $25,000 to $250,000, this product is designed to make the life insurance process straightforward while providing essential features:
"With flexible term and death benefit options, and built-in riders for added protection at an affordable price, this product addresses the financial protection needs of individuals and families—ensuring they can secure coverage that fits their budgets and aligns with their unique life stages," added Shaffer.
For more information about Individual Term Life Insurance, visit www.WashingtonNational.com.
Washington National Insurance Company, part of the CNO Financial Group (NYSE: CNO) family of brands, has helped Americans since 1911 to protect themselves and their families from the financial hardship that often comes with critical illness, accidents or loss of life. The company's supplemental health and life insurance products are designed to help give policyholders and their loved ones peace of mind. Policyholders can depend on Washington National to be a strong, caring partner in helping to provide financial security for them and their families. To learn more, visit WashingtonNational.com.
1 LIMRA 2024 Insurance Barometer Study.
SOURCE Washington National Insurance Company