Three Southern banking companies — First Union Corp., Wachovia Corp., and Regions Financial Corp. — have just expanded their insurance product offerings into long-term care through alliances with insurer John Hancock Financial Services of Boston, which has been seeking to beef up its bank distribution.

Wachovia, a $70.8 billion-asset company in Winston-Salem, N.C., that has long sold insurance as well as investment products through its Wachovia Insurance Services subsidiary, is adding only Hancock’s SimpleCare long-term-care product, a simplified policy with easier underwriting. “Some long-term-care applications are intimidating to investment representatives,” said Fran Senner-Hurley, general director of John Hancock’s financial institutions group, the insurer’s bank marketing arm. “SimpleCare is a much shorter application, with six medical underwriting questions. A healthy person can be approved on the spot, depending on age.”

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