If privacy is not a concern to you, or if you want to receive product offerings from other companies, you need take no further action . I wish to opt out of all present or future information sharing agreements your institution may have with affiliates or non-affiliates. Second, even after you opt out, the institution will still have the right to pass along account information to a third party that performs routine and needed services, such as transaction processing. If you receive solicitations from your company's affiliate, don't assume that doing all your business with the same group of companies is the best or most convenient plan of action. Banking companies are now permitted to underwrite and sell securities, sponsor and distribute mutual funds, as well as underwrite and sell insurance.
Brokers are already in the banking and insurance businesses, and insurers are also branching out.
However, you should review the merits of each product offering in its own right, based on the financial stability of the institution, as well as the quality and price of the product. You may find an unaffiliated company that is safer and offers a better deal. Don't feel pressured to give your business to an Insurer that is related to your bank . In order to get your insurance business, your bank may try to give you the impression that your existing or pending loan could be affected by your purchase of insurance from its affiliate. In reality, your bank cannot legally deny your loan or alter its terms if you choose to go elsewhere for insurance.