Local Bank Adds Life Benefit for Qualifying Account Holders

Peoples Bank & Trust Company of Hazard said it has partnered with Wysh Life and Health Insurance Company to deliver a life insurance benefit to deposit customers who meet the bank’s qualifying account criteria. The arrangement, announced January 1, 2026, will automatically grant the Life Benefit to existing qualifying account holders; new customers who open qualifying accounts will be enrolled as part of account setup.

The bank framed the offering as an extension of its long history in Hazard and a continuation of local customer service and community focus. By packaging life coverage with everyday deposit relationships, the bank is effectively broadening the range of financial protection available to Perry County residents without requiring a separate visit to an insurance agent.

For local households, the immediate implication is increased access to a financial safety net tied directly to routine banking. Life insurance plays a central role in household risk management by helping families cover funeral costs, outstanding debts, and short-term income losses after a death. Making a basic life benefit available through a trusted local institution may raise overall coverage rates among customers who have been reluctant or unable to secure standalone policies.

From a market perspective, the partnership reflects a broader trend of community banks offering ancillary financial services to bolster customer retention and diversify fee and noninterest income. For a bank operating in a small market, the addition of an insurance benefit can be a low-friction way to increase the value of checking and savings relationships, potentially supporting deposit growth and improving customer stickiness. Regulators permit banks to offer certain insurance products through third-party arrangements, but banks must also manage operational and compliance demands that come with cross-selling financial services.

For Perry County policymakers and community leaders, the new benefit may have secondary effects on local financial resilience. If the product reaches households with limited life coverage, it could reduce immediate financial shocks after a death and ease pressures on social services. The magnitude of that effect will depend on uptake rates and the scope of coverage provided through the qualifying accounts.

Customers seeking more information should contact their local Peoples Bank & Trust branch to confirm whether their accounts qualify and to learn about any enrollment requirements, exclusions, or limitations. As community banks continue to bundle products, Perry County residents will likely see more integrated financial offerings that aim to combine convenience with basic protections as part of everyday banking.