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UMB to offer internet-based term life insurance

Prudential Financial has announced an agreement between its individual life insurance business and UMB Financial to offer MyTerm, a term life insurance policy available through the internet, to UMB customers.

Through an online automated underwriting process that can be accessed from virtually anywhere, MyTerm delivers a policy in about 10 minutes to qualified customers that can then be saved electronically or printed locally, the company said.

Jim Avery, president of Prudential’s individual life insurance business, said: We’ve created this access point for consumers who look to their financial institution as their trusted advisor. MyTerm provides a fast, easy and convenient way for many consumers to select a high-quality life insurance product that’s well suited for their needs and fits within their budget.