Integrity Marketing Group Expands Arkansas Presence with Acquisition of Drennan Insurance Marketing
Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products to the Senior Market, today announced it has entered into a definitive agreement to acquire Drennan Insurance Marketing, Inc., an insurance marketing organization headquartered in Little Rock, Arkansas. As part of the deal, the Drennan family will become owners in Integrity. Financial terms of the contract were not disclosed.
Founded in 1981 and headquartered in Little Rock, Arkansas, Drennan Insurance Marketing is one of the oldest and most respected insurance brokerage agencies in the Southeast. The company provides a full spectrum of products for the senior market, including Medicare Advantage, Medicare Supplements, final expense, long term care and annuities.
“Larry and his family have built an enduring legacy through their commitment to service and family values,” said Bryan W. Adams, Co-Founder & CEO of Integrity. “Drennan Insurance Marketing is highly respected in the Senior Market and we’re thrilled to bring them on board as we further expand Integrity’s presence in the region.”
“This opportunity with Integrity delivers all the pieces we need to be a successful company for many years into the future,” said Larry Drennan, President & CEO of Drennan Insurance Marketing. “This is going to be a great partnership for our employees and the agents we serve.”
“We have achieved record growth year after year, but Integrity will give us access to additional products, resources and services that will bring more opportunity and value for our agents and employees than we could ever accomplish on our own,” said Billy Drennan, Vice President of Sales at Drennan Insurance Marketing. “With this partnership, we haven’t even scratched the surface of what we can achieve as partners with the most respected agencies in the Senior Market.”
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When choosing a life product, make sure that life insurance needs are met long-term, especially if personal situations change — for example, marriage, birth of a child or job promotion. Weigh the costs of the policy, and understand that life insurance, and long-term care coverage linked to life insurance through riders, has fees and charges that vary with sex, health, age and tobacco use. Riders that customize a policy to fit individual needs typically carry an additional charge. The payment of long-term care rider benefits, as an acceleration of the death benefit, will reduce both the death benefit and cash surrender values of the life policy. Additionally, policy loans and withdrawals will also reduce both the cash value and the death benefit. Care should be taken to make sure that life insurance needs continue to be met even if the rider pays out in full, or after money is taken from the life policy. There is no guarantee that a rider will cover the entire cost for all of the insured’s long-term care, as this may vary with the needs of each insured.
Final expense life insurance can be used by the beneficiary designated as needed rather than being limited to specific funeral services and providers. Final expense life policies will have a lower face value than most traditional term or whole life policies as they are intended for a specific purpose of covering those final costs rather than providing comprehensive support for surviving family members. This type of policy generally doesn’t require a medical exam, but premiums will be higher the older you are, and some benefit payouts may be limited during the first few years of coverage for those with significant health issues. Reducing or skipping premium payments will impact the amount of interest paid and may impact how long the policy lasts. Accessing the cash value of a policy will reduce the available cash surrender value and the death benefit. Policy guarantees are based upon the claims-paying ability of the issuing life insurance company.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options. Drennan is not affiliated with a government agency.
