MAPFRE U.S.A., the parent of Webster-based Commerce Insurance, has entered the life insurance market with a term life product in Massachusetts.
“Offering life insurance is essential to MAPFRE’s goal of fully protecting our customers’ most valuable assets in a time of loss,” said Jaime Tamayo, president and CEO of MAPFRE, in a statement.
MAPFRE will begin offering life insurance to customers through the company’s network of independent agents throughout the Bay State. MAPFRE said it plans to expand it to other states later this year.
Commerce is the largest home and auto insurer in Massachusetts. Automobile insurance customers in Massachusetts who purchase life insurance policies from MAPFRE will receive discounts on their auto policies, MAPFRE said.
