STAMFORD, Conn. -- March 26, 2007 -- Independence Holding Company (NYSE: IHC) today reported that it is introducing a new one-life dental product to its portfolio of niche health insurance products through its member company GroupLink, Inc. ("GroupLink").
GroupLink, which has over 20 years experience in dental products, will market and administer this benefits program, which is available nationwide and to people of all ages. It is specifically designed for those individuals and families who do not have access to employer-based dental benefits, and affords individuals a choice of plans and a PPO option available at a reduced premium. General agents and brokers will have the ability to market this new product through a link to GroupLink's online system via their own websites, and enroll and bind coverage using an exclusive online enrollment system.
Plan, rate and enrollment information is available from GroupLink at www.grouplinktpa.com. The one-life product will also be distributed through IHC's other member companies, including Insurers Administrative Corporation and Health Plan Administrators, Inc., and it will be underwritten by two of IHC's insurance company subsidiaries, Madison National Life Insurance Company, Inc. and Standard Security Life Insurance Company of New York.
Roger Skinner, president of GroupLink, and the driving force behind its product development stated, "We are thrilled to be able to offer a one-life dental product through the IHC insurance group as a solution for the one-life market. More than 108 million Americans are uninsured for dental care, more than twice the number without medical insurance (Oral Health in America: A Report of the Surgeon General, 2000). Our new one-life product will provide an array of affordable options for these individuals and families. The ability for brokers to secure affordable coverage for their individual and family clients in a matter of minutes using GroupLink's online system will enhance their levels of service and allow brokers to write business more quickly."
Jeff Smedsrud, Chief Strategic Development Officer of IHC, commented, "A significant number of studies now show the importance of good dental health on a person's overall health, and we are proud to be able to supply a benefit to individuals who are looking for affordable dental insurance."
IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its insurance company subsidiaries (Standard Security Life Insurance Company of New York and Madison National Life Insurance Company, Inc.,) its affiliate (American Independence Corp. (NASDAQ: AMIC)), and its managing general underwriters, third-party administrators, and marketing affiliates. Standard Security Life markets medical stop-loss, small group major medical, short-term medical, major medical for individuals and families, limited medical, group long and short-term disability and life, dental, vision and managed health care products. Madison National Life sells group life and disability, employer medical stop-loss, small group major medical, major medical for individuals and families, short-term medical, dental, vision, credit life and disability and individual life insurance. AMIC is a holding company principally engaged in the insurance and reinsurance business through Independence American Insurance Company and its managing general underwriter division.
GroupLink is a member of the IHC Group of companies and provides third-party administration, program management, and producer marketing and sales assistance to its partners. GroupLink manages and administers all of the dental business sold by Madison National Life. Since 1983, GroupLink has been a leading distributor of dental and vision products nationally.
Madison National Life Insurance Company, Inc. is a wholly owned subsidiary of Independence Holding Company, with principal interests in the life and health insurance business. Madison National Life was founded in 1961, and is headquartered in Madison, Wisconsin, with operations also in Austin, Texas, and Birmingham, Alabama. It is licensed in 49 states, American Samoa, the District of Columbia, Guam, and the U.S. Virgin Islands, and is an authorized reinsurer in the State of New York. Madison National Life is rated A-(Excellent) by A.M. Best Company, Inc.
Standard Security Life is a wholly owned subsidiary of Independence Holding Company, with principal interests in the life and health insurance business. Standard Security Life was founded in 1958, is domiciled in the State of New York, and headquartered in New York City. It is licensed in all 50 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico. Standard Security Life has an A (Excellent) rating from A.M. Best Company, Inc.
CONTACT: Independence Holding Company