Contact: Colleen Hughes, 703.888.4450
ARLINGTON, VA – April 23, 2010 – The Atlanta-based Life Insurance Direct Marketing Association (LIDMA), a non-profit organization comprised of businesses and professionals active in the direct sale of term life insurance products to consumers, has joined the LIFE Foundation.
"LIDMA’s members have achieved great success reaching the middle market, which will enable LIFE greater access to these consumers and the ability to provide them with the educational resources to help them make informed decisions," said LIFE Foundation President and CEO Marvin H. Feldman, CLU, ChFC, RFC.
Sales through direct channels represented more than 20 percent of the policies, about five percent of premium sold, and 13 percent of the total face value in 2008, according to a new joint project conducted by LIMRA International and LIDMA.
LIDMA President Patrick Wedeking, who also is president of Denver-based Quick Life Center, a company specializing in selling and processing life insurance applications for financial institutions, will represent the association on LIFE’s Board of Directors as an ex-officio member. He was elected to this role by LIDMA’s leadership.
"LIDMA is committed to supporting LIFE’s mission to help consumers make informed insurance decisions," said Wedeking. "More and more middle-market Americans are shopping online and over the phone for their life insurance needs. They need to be able to access credible educational materials and tools like those provide by LIFE to help guide their decision-making process."
The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.lifehappens.org.
LIDMA is the primary association dedicated to supporting businesses and professionals active in direct sales of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. The not-for-profit organization is committed to helping members boost their revenues derived through direct response sales as well as assisting new entrants adapt and succeed in their direct response efforts. For more information visit www.lidma.org.