Paul Sanchez
BB&T Insurance Holdings, a subsidiary of BB&T Corporation, offers life insurance through its various subsidiaries. In 2018, BB&T Insurance Services, a subsidiary of BB&T Insurance Holdings, rebranded as McGriff Insurance Services, which offers property and casualty insurance, employee benefits, and life and pension plans. BB&T Insurance Holdings also operates through Crump Life Insurance Services, which is partnered with Protective Life Insurance Company to offer BB&T customers life insurance coverage of up to $50,000,000 for qualified individuals.
| Characteristics | Values |
|---|---|
| Company Name | BB&T Insurance Services |
| Rebranded Name | McGriff Insurance Services |
| Parent Company | BB&T Insurance Holdings |
| Parent Company's Parent | BB&T Corporation |
| Date of Rebranding | June 25, 2018 |
| Type of Insurance Offered | Property and Casualty Insurance, Employee Benefits, Life and Pension Plans, Financial Services, and Surety Products |
| Specialty Insurance Programs | Agribusiness, Construction, Behavioral Health Care, Architecture and Engineering, and Entertainment |
| Number of Offices | More than 200 |
| Subsidiaries | McGriff Insurance Services, BB&T Insurance Services of California, McGriff, Seibels & Williams, CRC Insurance Services, Crump Life Insurance Services, and AmRisc, LLC |
What You'll Learn
BB&T Insurance Services Rebrands as McGriff Insurance Services
BB&T Insurance Services, a subsidiary of BB&T Insurance Holdings, has rebranded as McGriff Insurance Services. The change came into effect on June 25, 2018, with the new name derived from affiliate McGriff, Seibels & Williams, which provides property and casualty insurance, employee benefits, life and pension plans, financial services, and surety products.
BB&T Insurance Services of California and BridgeTrust Title were not included in the initial rebranding and continued operating under their existing names. However, in June 2024, BB&T Insurance Services of California also rebranded and adopted the McGriff Insurance Services name.
David Pruett, vice chairman and CEO of BB&T Insurance Services, commented on the name change:
> "Since our founding in 1922, BB&T Insurance has never wavered in our commitment to provide highly personalized client service. The McGriff name goes back to 1886, and we are excited to build on the brand equity and long-standing recognition associated with this industry leader while remaining committed to the outstanding client service we have provided for years."
Pruett also cited the pending acquisition of Regions Insurance Group as an opportune moment for the name change, stating that the combined company would have "even greater client-facing resources and industry knowledge under a single united brand that is recognized and respected by the insurance industry and clients."
The rebranding of BB&T Insurance Services, and subsequently BB&T Insurance Services of California, was accompanied by an updated logo, colour palette, fonts, and other design elements. The expanded client services now include business and individual insurance, employee benefits, and risk management, with specialty offerings in various sectors.
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Protective Classic Choice Term life insurance
BB&T offers Protective Classic Choice Term life insurance, a product designed to give you the affordability you need today with options for the future.
Coverage and Premiums
Benefits
The policy offers a guaranteed, level premium and an income tax-free death benefit to your beneficiaries. It also includes a terminal illness rider, which allows for accelerated death benefits if your state allows this.
Optional Riders
Optional riders and endorsements allow you to tailor the policy to your unique goals. For example, the Conversion Choice rider with ExtendCare provides a simple way to convert to a broader range of permanent solutions within a flexible timeline, without underwriting or a medical exam.
Pros and Cons
Term life insurance is typically the most inexpensive form of life insurance coverage, and it allows you to purchase coverage for the specific timeframe you need. It is easy to understand and manage, and it offers fixed, level premium payments. However, renewal premiums can be expensive if you need to extend coverage beyond your initial benefit period, and the death benefit and coverage length cannot be adjusted. Additionally, term life insurance does not build cash value.
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Truist Life Insurance Services
In addition to life insurance, Truist offers a range of other insurance products and services, including medical benefits packages, retirement savings plans, and time off programs. Truist is committed to providing comprehensive benefits and support to its teammates, enabling them to thrive in their work and personal lives.
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Coverage up to $50,000,000 for qualified individuals
BB&T offers life insurance with coverage of up to $50,000,000 for qualified individuals. This coverage is provided through Protective Classic Choice Term life insurance, which is issued by Protective Life Insurance Company, a company that has been in business for over 100 years.
The Protective Classic Choice Term life insurance policy offers term periods of 10, 15, 20, 25, 30, 35, and 40 years. This type of insurance offers affordable protection for your beneficiaries, and it is easy to get started with an online process.
Life insurance is a policy that provides a financial safety net for loved ones after the policyholder's death. The beneficiaries will receive a designated sum, known as the death benefit, upon the passing of the insured. The death benefit can be used to cover funeral expenses, everyday bills, lost wages, childcare, debts, college tuition, and more.
The cost of life insurance varies depending on several factors, including age, health, lifestyle, tobacco usage, state of residence, and the amount of coverage purchased. For example, the average cost of a $50,000 whole life insurance policy is $100-$500 per month.
It is important to note that the younger and healthier an individual is, the lower their policy premiums will be. Therefore, it is advisable to purchase life insurance as soon as possible, especially if one has dependents.
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BB&T Insurance Holdings
- McGriff Insurance Services
- BB&T Insurance Services of California
- McGriff, Seibels & Williams
- CRC Insurance Services
- Crump Life Insurance Services
- AmRisc, LLC
In 2018, BB&T Insurance Services rebranded as McGriff Insurance Services, adopting the name of its affiliate, McGriff, Seibels & Williams. The rebranding aimed to build on the brand equity and recognition associated with the affiliate, which has been in the insurance industry since 1886.
In addition to insurance, BB&T Corporation, through its subsidiary Truist, offers a range of financial services, including personal and commercial banking, credit cards, loans, and investments. Truist also provides a comprehensive benefits package for its teammates, including medical benefits, retirement plans, and time off programs.
BB&T, in collaboration with Protective Life Insurance Company, offers life insurance products. Protective Life Insurance has over 100 years of experience, serving millions of customers. BB&T promotes Protective Classic Choice Term life insurance, which offers coverage of up to $50,000,000 for qualified individuals with affordable insurance rates.
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Frequently asked questions
Yes, BB&T offers life insurance.
Protective Classic Choice Term life insurance.
Coverage of up to $50,000,000 for qualified individuals.
BB&T's life insurance rates are affordable, and you can get a quote online or by contacting an expert.
BB&T Insurance, now known as McGriff Insurance Services, has been in the industry since 1922 and has over 200 years of combined experience with Protective Life Insurance Company.
