Hazard, Kentucky--(Newsfile Corp. - September 9, 2024) - Peoples Bank and Trust Company of Hazard (Peoples B&TC) today announced a groundbreaking partnership with Wysh Life and Health Insurance Company to offer Life Benefit, an innovative built-in life insurance protection for select savings accounts. This new offering provides PBOH customers with up to $10,000 in life insurance coverage at no additional cost.

The Life Benefit program is now available on Peoples B&TC Statement Savings and the Kasasa Saver accounts. Customers automatically receive life insurance coverage equal to 10% of their deposits, up to a maximum of $10,000. The coverage grows with the account balance, providing customers with increasing financial protection as they save.

"We're excited to partner with Wysh to bring this innovative customer benefit to our community. Wysh has allowed us to provide the most inclusive form of life insurance protection to the people of Eastern Kentucky - we're very proud of that" said Jeff Smith, CEO of Peoples Bank and Trust Company. "The implementation process was surprisingly smooth and required little-to-no technological capabilities. Wysh's team made it easy for us to offer this valuable benefit to our customers without disrupting our existing systems."

To celebrate the launch, Peoples B&TC hosted a special event blending Kentucky basketball excitement with financial protection awareness. The event featured meet-and-greet opportunities with UK basketball players and provided information about Peoples B&TC's new financial protection solutions.

Alex Matjanec, CEO of Wysh, commented, "Our partnership with Peoples Bank and Trust demonstrates how community banks can leverage innovative insurance products to better serve their customers. Life Benefit aligns perfectly with their [Peoples B&TC] commitment to their community's financial well-being."

Existing qualifying account holders of the aforementioned accounts will automatically receive the Life Benefit, while new customers can open a qualifying account to take advantage of this unique offering. For more information, customers can visit their local Peoples Bank & Trust Company branch or the bank's website at www.peopleshazard.com

About Peoples Bank & Trust Company

The Peoples Bank & Trust Company of Hazard was chartered in 1923 and has operated continuously in Perry County since its inception. Since its inception, the Bank's primary mission has been to serve the banking needs of Hazard, as well as Perry County and the surrounding counties, and this mission continues to be the primary driving force behind the Bank today. Being the oldest and most firmly established Bank in the Perry County area, the Bank has built a reputation of conservative soundness that has served it well.

About Wysh Life and Health Insurance Company

Wysh Life and Health Insurance Company is a wholly-owned subsidiary of Northwestern Mutual. Wysh offers innovative embedded protection solutions, including Life Benefit, which helps financial institutions attract, retain, and differentiate deposits while providing valuable coverage to members. By integrating seamlessly with banking platforms, Wysh is revolutionizing the way financial institutions approach member protection and deposit growth.

To learn more about Wysh:

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