GE Financial Assurance is combining in-person transaction and the Internet to sell a new term life insurance policy through banks and securities brokers.

The product, Simple Security, can be underwritten and approved at point of sale. Applicants fill out an online form at a bank branch or brokerage, it is submitted electronically, and the system "responds with either an approval or denial right there," said Bethann Roberts, senior vice president of financial services for GE Financial Assurance in Richmond, Va.

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