UNITY FINANCIAL HONORED BY INC MAGAZINE FOR A THIRD TIME

Cincinnati, Ohio August 30, 2010 - Tom Hardy, President and CEO of Unity Financial Life Insurance Company, reported that Inc. Magazine has included Unity Financial for the third consecutive year in its 500/5,000 listing of rapidly growing privately owned companies.

Among life insurance companies with at least $10 million of life premium, Unity Financial Life Insurance Company is again the fastest growing privately owned life insurance company in America. Unity Financial's life premium in 2009 was $29 million and Mr. Hardy stated that it is clear that 2010 premium will be considerably higher.

Unity Financial Life Insurance Company is based in Cincinnati, Ohio and serves the pre-need funeral funding market and the funeral trust market. The company is licensed in 43 states plus the District of Columbia. Unity Financial has increased its Premium and its Surplus every year since 2002 and its investment portfolio is all investment grade publically traded fixed income securities.

 

UNITY FINANCIAL RECEIVES IOWA COA

Cincinnati, Ohio July 12, 2010 - Unity Financial Life Insurance Company has received a Certificate of Authority to do business in Iowa. With this expansion, Unity Financial is now licensed to do business in 43 states plus the District of Columbia.

Tom Hardy, President and CEO, announced the expansion and stated that the growing geographical opportunity to provide products will help Unity Financial’s traditional pre-need marketing and its funeral trust business.

Unity Financial Life Insurance Company is based in Cincinnati, Ohio and is the fastest growing provider of pre-need funeral insurance funding and the fastest growing privately owned life insurance underwriter in the country.

 

UNITY FINANCIAL ANNOUNCES RECORD RESULTS FOR 2009

Cincinnati, Ohio March 22, 2010 - Tom Hardy, President and CEO of Unity Financial Life Insurance Company announced that 2009 produced the best results in Unity Financial’s history. All major areas contributed to the positive results for the year:

• Sales and premium set records with sales up 25 percent and premium up 24 percent.
• New agent appointments are at record levels.
• Investment income was up 30 percent to a record high.
• Operating income increased 315 percent.
• Unity Financial continues to have no investments rated less than investment grade.

Mr. Hardy noted that with a great deal of uncertainty in the marketplace resulting from financial concerns about the industry, Unity Financial’s financial strength has become a magnet for customers and agents. Although Unity Financial is the smallest of the nationwide pre-need and funeral trust insurance companies, it is widely known as one of the most financially solid competitors in the industry.

Unity Financial Life Insurance Company serves the pre-need funeral funding and funeral trust markets, with licenses in 43 states. The headquarters is in Cincinnati, Ohio. For additional information, call 877-523-3231.

PRODUCER USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS

Cincinnati, Ohio, March 15, 2010 - On September 24, 2008, the National Association of Insurance Commissioners (“NAIC”) adopted a Model Regulation on the Use of Senior-Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities (the “Model Regulation”). The Model Regulation aims to protect seniors from abusive sales practices and fraud. Specifically, it provides that it is “an unfair and deceptive act or practice . . . for an insurance producer to use a senior-specific certification or professional designation that indicates or implies in such a way as to mislead a purchaser or prospective purchaser that insurance producer has special certification or training in advising or servicing seniors.” To date, Arizona, Arkansas, California, Colorado, Missouri, North Dakota, Ohio, Oklahoma, Texas, and Virginia have enacted the model law, or similar legislation. The prohibited use of senior-specific certifications or professional designations includes, but is not limited to, the following:

  • Use of a certification or professional designation by a producer who has not actually earned or is otherwise      ineligible to use such certification or designation;
  • Use of a nonexistent or self-conferred certification or professional designation;
  • Use of a certification or professional designation that indicates or implies a level of occupational      qualifications obtained through education, training or experience that the insurance producer using the      certification or designation does not have; and
  • Use of a certification or professional designation that was obtained from a certifying or designating      organization that:
        o Is primarily engaged in the business of instruction in sales or marketing;
        o Does not have reasonable standards or procedures for assuring the competency of its certificants or            designees;
        o Does not have reasonable standards or procedures for monitoring and disciplining its certificants or            designees for improper or unethical conduct; or
        o Does not have reasonable continuing education requirements for its certificants or designees in order to            maintain the certificate or designation.

If you are in a state where this new legislation has been enacted and you use a designation that could be considered “Senior Specific”, take a moment to consider if the designation would meet the required standards, and if doesn’t, take corrective measures. Examples of “Senior Specific” would be the use of one or more words such as “senior”, “retirement”, “elder”, or like words combined with one or more words such as “certified”, “registered,” “chartered,” “advisor,” “specialist,” “consultant,” “planner,” or like words, in the name of the certification or professional designation.

If you would like to view the state specific law or regulation enacted in the states mentioned above, visit the secure agent section of our website.
 

UNITY FINANCIAL AGAIN HONORED BY INC. MAGAZINE

Cincinnati, Ohio, September 30, 2009 - For the second year in a row, Inc. Magazine has honored Unity Financial in their listing of the 5,000 fastest growing privately owned companies in America. With a small qualification, Unity Financial Life is again the fastest growing privately owned life insurance underwriter in America. There is one other company with a life charter that grew faster but 99+ percent of their premium is not life insurance. The ranking is based on revenue growth for 2005-2008.

Tom Hardy, President and CEO, reports that he is very pleased that the company has been recognized again by Inc. Magazine and notes that Unity Financial’s growth in 2009 will be higher than 2008. He attributes part of the growth in 2009 to the company’s strong balance sheet and avoidance of investment problems which has attracted quality new distribution sources.

Unity Financial Life Insurance Company is based in Cincinnati, Ohio and is licensed in 43 jurisdictions. The company specializes in providing life insurance for pre-need funeral funding and irrevocable funeral trust funding. Unity Financial has increased its premium and capital every year since 2002.
 

UNITY FINANCIAL LIFE REPORTS STRONG RESULTS FOR 2008

Cincinnati, Ohio, March 16, 2009 - Tom Hardy, President and CEO of Unity Financial Life Insurance Company reported record results for 2008. Assets grew to $75 million, up 29 percent from 2007 and premium was over $23 million, up nine percent from 2007. Capital and Surplus increased for the seventh consecutive year.

In the current atmosphere of concern over investment problems for financial institutions, including insurance companies, Mr. Hardy stated that he was very pleased to note that Unity Financial has avoided such problems to date. Several years ago the company adopted a conservative investment philosophy which permits only investment grade securities with no equities, no mortgage loans, no real estate, no “unusual” investments. As a result, for the last seven years Unity Financial has had no investment write-offs, no write-downs, no securities owned with below investment grade ratings. Although portfolio yields were lower than those of some competitors during good times, it is very positive that Unity Financial has been rewarded for its approach in less good times.

During the year, new distribution joined Unity Financial to expand and diversify the company’s insurance funeral funding market. To support future growth, Unity Financial received Certificates of Authority to do business in California and Massachusetts which brings the total jurisdictions to 43. Unity Financial Life provides insurance products and support for pre-need funeral contracts and for Medicaid asset exemption protection. Unity Financial life is the fastest growing privately owned life insurance underwriter in the country and is the fastest growing pre-need insurance company. The Home Office is located in Cincinnati, Ohio.

 

UNITY FINANCIAL RECEIVES MASSACHUSETTS COA

Cincinnati, Ohio September 29, 2008 - Unity Financial Life Insurance Company has received a Certificate of Authority to do business in Massachusetts. With this expansion, Unity Financial is now licensed to do business in 42 states plus the District of Columbia.

Tom Hardy, President and CEO, announced the expansion and stated that the growing geographical opportunity to provide products will help Unity Financial’s traditional pre-need marketing and its newer funeral trust business.

Unity Financial Life Insurance Company is based in Cincinnati, Ohio and is the fastest growing provider of pre-need funeral insurance funding and the fastest growing privately owned life insurance underwriter.

UNITY FINANCIAL ANNOUNCES NEW DIRECTOR

Cincinnati, Ohio, December 3, 2007 - Tom Hardy, President and CEO of Unity Financial Life Insurance Company, announced that John Yanko has been elected to the Board of Directors of Unity Financial. Mr. Yanko's term will begin December 31, 2007.

Mr. Hardy stated that Mr. Yanko's actuarial background will be very useful on the Board, especially the pre-need experience Mr. Yanko developed over fifteen years as chief actuary for a large pre-need competitor of Unity Financial. Mr. Hardy also noted that he has developed a high level of respect for Mr. Yanko during the thirty years they have known each other.

Unity Financial Life Insurance Company, based in Cincinnati, Ohio, has been the fastest growing pre-need life insurance company in America since 2003.