Citizens, Inc. and Allegiant Forge Strategic Partnership to Deliver White-Label Products to the Fast-Growing Final Expense Agency Market

Rhea-AI Summary

Citizens, Inc. announces a white-label partnership with Allegiant Wealth Group to sell final expense insurance products. The partnership aims to make Citizens the top choice for Final Expense insurance distributors.

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• Citizens, Inc. enters a white-label partnership with Allegiant Wealth Group to sell final expense insurance products
• The partnership aims to make Citizens the top choice for Final Expense insurance distributors

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AUSTIN, Texas, May 31, 2023 /PRNewswire/ -- Citizens, Inc. ("Citizens" or the "Company") (NYSE: CIA), a diversified financial services company providing life, living benefits and final expense insurance, announced today that it has entered a white-label partnership with Allegiant Wealth Group ("Allegiant"), a financial services firm that helps families protect and preserve their financial future. Through this partnership, Allegiant will sell Citizens' final expense insurance products marketed as Superior Choice to its clients located throughout the United States. These products will be sold through CICA Life Insurance Company of America, a Citizens company.

The partnership between Citizens, Inc. and Allegiant is a major achievement for Citizens as it strives to become the top choice for Final Expense insurance distributors. Allegiant will market Superior Choice Final Expense products through two separate distribution channels including Senior Core Benefits, a captive career-oriented agent model, and through Allegiant Wealth Group, a large independent brokerage channel.

"Our collaboration with Allegiant presents a remarkable opportunity to harmonize our shared vision and unique capabilities in delivering on our customers' life insurance obligations," stated Gerald W. Shields, Vice Chairman and CEO of the company. "This latest alliance underscores our proficiency in engaging with multiple distribution channels simultaneously. We are thrilled to join forces with Wayne and his team, working together to craft tailored product solutions that cater to our clients' individual requirements."

Wayne Daniel, Allegiant CEO, stated "Our partnership with Citizens building this white-label product will give our agents and agency partners throughout the U.S. a tremendous opportunity to grow their business and help their clients. We plan to market the new final expense plan to our Brokerage agency partners along with distributing to our captive career agents at CORE Senior Benefits."

Wayne continued, "Working with Citizens leadership team to develop this product has been a wonderful experience. My team and I, having direct access to the CEO Gerald Shields and his executive team, have made this process easy and enjoyable.  It is refreshing to work with a carrier that understands the importance of the field sales team and looks for their input to make the process better for the agent and the customer."

About Citizens, Inc
Citizens, Inc. (NYSE: CIA) is a diversified financial services company providing life, living benefits and final expense insurance and other financial products to individuals and small businesses in the U.S., Latin America, and Asia. Through its customer-centric growth strategy, Citizens offers innovative products to address the evolving needs of its customers in their native languages of Spanish, Portuguese, and Mandarin. The company operates two primary segments: Life Insurance, where the Company is a market leader in life insurance and accident and health insurance in Spanish, Portuguese and Mandarin in the United States, Latin America, and Asia and Home Services, which operates primarily in the U.S. Gulf coast region. For more information about Citizens and CICA Life of America, please visit www.citizensinc.com.

About Allegiant Wealth Group
Allegiant Wealth Group is a customer-oriented insurance agency that prides itself on providing exceptional service to its clients. The agency offers a wide range of insurance products and services, and its knowledgeable team is always ready to help clients with their insurance needs. Whether clients need assistance with filing a claim, making a payment, or understanding their coverage, Allegiant Wealth Group is committed to providing top-notch support. With years of experience in the insurance industry, the agency's team has encountered a diverse range of scenarios and is well-equipped to handle any situation that may arise. More information about Allegiant Wealth Group and its services can be found at www.allegiantwealthgroup.com.

For further information contact:
Marketing Department
PR@citizensinc.com

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SOURCE Citizens, Inc.

FAQ

What is the partnership between Citizens, Inc. and Allegiant Wealth Group?

Citizens, Inc. has entered a white-label partnership with Allegiant Wealth Group to sell final expense insurance products.

What are the products being sold through this partnership?

The partnership will sell final expense insurance products marketed as Superior Choice.

Which company will sell the products?

The products will be sold through CICA Life Insurance Company of America, a Citizens company.

What are the distribution channels for the Superior Choice Final Expense products?

The products will be sold through two separate distribution channels: Senior Core Benefits and Allegiant Wealth Group.

Who are the CEOs of Citizens, Inc. and Allegiant Wealth Group?

Gerald W. Shields is the Vice Chairman and CEO of Citizens, Inc., and Wayne Daniel is the CEO of Allegiant Wealth Group.