Wednesday December 23, 8:02 am Eastern Time
Company Press Release
Ameritas Life Insurance Corp. and HealthAxis.com Announce Carrier Agreement
LINCOLN, Neb. and NORRISTOWN, Pa.--(BUSINESS WIRE)--Dec. 23, 1998--
Ameritas Life to Offer Portfolio of Life-Based Insurance Products
on HealthAxis.com
Ameritas Life Insurance Corp., a leading provider of individual life insurance and group dental products, and HealthAxis.com, the e-commerce subsidiary of Provident American Corporation (Nasdaq: PAMC - news), today announced an agreement to offer Ameritas life insurance products throughout the HealthAxis.com network of Web sites.
Customers will be able to purchase Ameritas term life insurance products throughout the HealthAxis.com network of sites and through HealthAxis.com's exclusive distribution partners, which include AOL and AOL.COM, Lycos, CNET and Snap!. Under the agreement, Ameritas will pay HealthAxis.com certain base commissions as well as marketing-related fees based upon premium sales. In addition, Ameritas will provide claims processing and customer service for the joint customers of HealthAxis.com and Ameritas Life Insurance Corporation.
''The Internet has opened up a new world of possibilities for the sale of insurance to individuals and small groups,'' said Robert W. Bush, Executive Vice President of Ameritas Life. ''We are thrilled to sign on to become the anchor tenant provider of term life insurance on the HealthAxis.com network of Web sites. We are committed to providing consumers with easy access to the information, products and services they need to help them make important insurance decisions.''
Michael Ashker, President and Chief Executive Officer of HealthAxis.com said: ''The addition of Ameritas Life Insurance Corporation to the HealthAxis.com network is a truly exciting development in the sale of insurance online. Now, in addition to our selection of health insurance products online, we will be able to provide our customers with term life insurance from one of the most trusted names in the business.''
Through its highly interactive, user-friendly, one-stop health care and life insurance Web site, HealthAxis.com also provides product and health information, instant price quotes, electronic application processing, online billing, claims status, policy or personal information changes, and a customer hotline. Policy holders can easily and conveniently view billing information, claims history and policy details - day and night, 7 days a week.
Ameritas Life Insurance Corporation
Ameritas Life Insurance Corp. and its subsidiaries and affiliates specialize in variable life, fixed and variable annuities, group dental, low load insurance products, and 401(k) and other investment products. Assets totaled $3.7 billion as of September 30, 1998.
HealthAxis.com
HealthAxis.com, a subsidiary of Provident American Corporation, is a pioneer in the Internet distribution of health insurance to the individual and small group markets. Through its interactive, user-friendly Web site, healthaxis.com, HealthAxis.com provides customers with access to and the ability to purchase a full range of high quality, flexible insurance products and services at very competitive prices.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made by the Companies which are not historical facts may be considered forward-looking statements, including, without limitation, statements as to trends, management's beliefs, expectations and opinions, which are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors which may cause actual results to differ materially from those in the forward-looking statements. For further information which could cause actual results to differ from the Companies' expectations as well as other factors which could affect the Companies' financial statements, please refer to the Companies' reports filed with the Securities and Exchange Commission.
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Contact:
Investor Contact:
HealthAxis.com
Deidre Holt
(610) 275-3800
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