secwatch.observer — SEC 8-K summary
======================================

Issuer:     CITIZENS, INC. (CIA)
CIK:        0000024090
Form:       8-K
Filed at:   2026-10-09T18:02:49+00:00
Accession:  0000024090-26-000045
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Citizens (CIA) signs Bestow SaaS deal for digital final expense platform; build due Dec 15, 2026
--------------------------------------------------------------------------------

- Citizens entered a Master Software as a Service Agreement with Bestow Agency LLC on Oct 5, 2026 (effective Oct 1) for a hosted platform serving CICA Life's final expense whole life products.
- Build Order requires Bestow to configure and implement the Final Expense platform no later than Dec 15, 2026; the development fee is paid in 36 monthly installments.
- Run Order fees: annual subscription, a committed application fee tied to a minimum annual volume (payable even if unmet), and per-application fees above that minimum.
- If additional products are not added to the Run Order by March 31, 2027, development and annual subscription fees rise prospectively, with a true-up for amounts already invoiced.
- Initial term runs through Dec 31, 2030, with up to two one-year renewals; SLA promises 99.9% monthly platform availability with service credits; Company keeps pricing, underwriting rules and claims.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/24090/000002409026000045/0000024090-26-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/24090/000002409026000045/cia-20261005.htm
  HTML page:      https://secwatch.observer/filing/0000024090-26-000045

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer