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Assurant Supplemental Coverage Available for clients through age 64 in AL, AR, LA, MI, MO, MS, OK, TX, WI and WV for effective dates starting May 13, 2012 Cancer and Heart/Stroke plans For agent use only THIS POLICY PROVIDES LIMITED BENEFITS
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Cancer and Heart/Stroke plans

Jan 23, 2016

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Cancer and Heart/Stroke plans. Assurant Supplemental Coverage Available for clients through age 64 in AL, AR, LA, MI, MO, MS, OK, TX, WI and WV for effective dates starting May 13, 2012. For agent use only THIS POLICY PROVIDES LIMITED BENEFITS. Why Cancer and Heart/Stroke coverage?. - PowerPoint PPT Presentation
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Page 1: Cancer and Heart/Stroke plans

Assurant Supplemental Coverage

Available for clients through age 64 in AL, AR, LA, MI, MO, MS, OK, TX, WI and WV for effective dates starting May 13, 2012

Cancer and Heart/Stroke plans

For agent use only

THIS POLICY PROVIDES LIMITED BENEFITS

Page 2: Cancer and Heart/Stroke plans

2 Assurant Supplemental Coverage

Why Cancer and Heart/Stroke coverage?• More than 1.6 million U.S. residents will be

diagnosed with cancer this year (American Cancer Society, Facts and Figures 2012)

• Somebody in the U.S. has a heart attack every 34 seconds (Centers for Disease Control and Prevention, Heart Disease Fact Sheet, 2010)

• Medical bills cause more than 60% of U.S. bankruptcies (American Journal of Medicine, 2009)

Page 3: Cancer and Heart/Stroke plans

3 Assurant Supplemental Coverage

Why Cancer and Heart/Stroke coverage?• Even with the best medical insurance, a life-

threatening illness is costly for clients– Medical plan deductible/coinsurance can easily total

$5,000 to $10,000– Lengthy illness could mean loss of work time and wages– Household bills pile up– Alternative and some other treatments may not be

covered by major medical insurance

• Cancer and Heart/Stroke coverage provides help when it’s most needed, so clients and their families won’t be burdened with bills

Page 4: Cancer and Heart/Stroke plans

4 Assurant Supplemental Coverage

Introducing Assurant Supplemental Coverage Cancer and Heart/Stroke plans• With Cancer and Heart/Stroke, your clients pay for

only the conditions they’re most worried about• You and your clients can trust Assurant Health’s

120 years* in health insurance — experience and expertise you won’t find anywhere else

• Easy integration — just click to add Cancer and Heart/Stroke to an Assurant Health major medical or fixed-benefit plan!

*Assurant Health is the brand name for products underwritten and issued by Time Insurance Company (est. 1892).

Page 5: Cancer and Heart/Stroke plans

5 Assurant Supplemental Coverage

Simple

• Save time and integrate plans with just one click — only from Assurant Health!

• Add Cancer and Heart/Stroke in a single process, with no more than two additional questions for cancer and four questions for heart/stroke

• Plan pays a lump-sum cash benefit upon life-threatening diagnosis, when it’s most needed

• Plan pays cash benefits per covered person

Page 6: Cancer and Heart/Stroke plans

6 Assurant Supplemental Coverage

Flexible• Clients choose coverage for cancer only,

heart/stroke only, or both — paying for only those conditions they’re most concerned about– Underwriting is separate; i.e., clients can buy

Heart/Stroke plan even if they’ve had cancer

• Plan pays regardless of any other coverage in force• Clients choose any doctors and treatments they

wish• Clients use the cash however they want

– Pay medical plan deductible and coinsurance– Replace lost income– Pay household bills– Seek experimental treatment

Page 7: Cancer and Heart/Stroke plans

7 Assurant Supplemental Coverage

Affordable

• Clients pay for only the conditions they worry about most

• Clients choose a benefit level ($10,000 to $75,000) to suit their needs and budget

• One rate for any number of childrenIn LA, coverage may be purchased for individuals only, not spouses or families.

Page 8: Cancer and Heart/Stroke plans

Cancer and Heart/Stroke benefits

Page 9: Cancer and Heart/Stroke plans

9 Assurant Supplemental Coverage

Benefit payments for Cancer

If your client purchases this

And is diagnosed with this

The plan pays

Cancer only Life-threatening cancer 100% of the selected benefit amount

• Cancer and Heart/Stroke plans pay for life-threatening conditions, when policyholders need help most

• For cancer only, policyholder receives the full cash benefit upon diagnosis of life-threatening cancer

Waiting periods apply for Cancer and Heart/Stroke benefits in most states. Where waiting periods do not apply, benefit payments will be reduced for a limited time.

Page 10: Cancer and Heart/Stroke plans

10 Assurant Supplemental Coverage

Benefit payments for Heart/Stroke

If your client purchases this

And is diagnosed with this

The plan pays

Heart/Stroke only Coronary artery disease or cardiac arrhythmia resulting in heart attack

100% of the selected benefit amount

Coronary artery disease or cardiac arrhythmia resulting in coronary artery bypass

25% of the selected benefit amount

Coronary artery disease resulting in coronary angioplasty

10% of the selected benefit amount

Cerebrovascular disease resulting in stroke

100% of the selected benefit amount

• Heart/Stroke benefits depend on medical event• 100% benefit for heart attack or stroke• Partial benefits paid for other conditions;

policyholder still protected by benefit remainder

Waiting periods apply for Cancer and Heart/Stroke benefits in most states. Where waiting periods do not apply, benefit payments will be reduced for a limited time.

Page 11: Cancer and Heart/Stroke plans

11 Assurant Supplemental Coverage

Benefit payments for Cancer and Heart/Stroke

If your client purchases this

And is diagnosed with this

The plan pays this for cancer and heart/stroke conditions

Cancer and Heart/Stroke plans

Any of the conditions listed on the previous two slides

Benefits listed in previous slides for Cancer and Heart/Stroke

• Clients purchasing Cancer and Heart/Stroke coverage receive 100% benefits for life-threatening cancer and heart attack or stroke*

• If client receives partial Heart/Stroke benefits, he or she is still protected by benefit remainder

*Specific conditions listed on slide 10.

Waiting periods apply for Cancer and Heart/Stroke benefits in most states. Where waiting periods do not apply, benefit payments will be reduced for a limited time.

Page 12: Cancer and Heart/Stroke plans

12 Assurant Supplemental Coverage

Benefit payment example

Susan buys a $50,000 Cancer and Heart/Stroke plan covering herself, her spouse and her two children. She is diagnosed with life-threatening cancer.

• She receives a $50,000 lump-sum payment upon diagnosis

• She is eligible to receive another $50,000 in benefits if she’s diagnosed with a condition covered by her heart/stroke benefits

• Since benefits are paid per person, Susan’s husband and children are still eligible to receive their own cancer and heart/stroke benefits

Example is for illustration purposes only

Page 13: Cancer and Heart/Stroke plans

13 Assurant Supplemental Coverage

Benefit payment example 2John buys a $25,000 Heart/Stroke plan. He’s

diagnosed with coronary artery disease. • If John’s coronary artery disease results in a heart

attack, he receives a $25,000 lump-sum payment (100% of $25,000); this ends his policy.

• If John’s coronary artery disease results in coronary artery bypass, he receives $6,250 (25% of $25,000). He is eligible to receive the remaining 75% for another, different heart/stroke diagnosis.

• If John’s coronary artery disease results in coronary angioplasty, he receives $2,500 (10% of $25,000). He is eligible to receive the remaining 90% for another, different heart/stroke diagnosis.

Example is for illustration purposes only

Page 14: Cancer and Heart/Stroke plans

Easy Cancer and Heart/Stroke integration and sales

Page 15: Cancer and Heart/Stroke plans

15 Assurant Supplemental Coverage

Add Cancer and Heart/Stroke to major medical• Most major medical plans include high

deductibles, limits and other costs that can add up

• Cancer and Heart/Stroke helps pay costs so clients can concentrate on getting well

Page 16: Cancer and Heart/Stroke plans

16 Assurant Supplemental Coverage

More protection for less money

• Adjust major medical plan to higher deductible

• Add Cancer and Heart/Stroke for additional benefits

• Your client receives valuable protection at less total cost

• You receive more commission

Plan shown is OneDeductible with 100% coinsurance and Cancer and Heart/Stroke plan for male with standard rating, age 40, non-tobacco user in ZIP 78721. Numbers have been rounded.

OneDeductible plan

$3,750 deductible

$5,000 deductible

Annual premium $2,326 $1,716

Cancer and Heart/Stroke coverage ($25,000)

$285

Total annual premium

$2,326 $2,001

Total savings$323 per

year!

Page 17: Cancer and Heart/Stroke plans

17 Assurant Supplemental Coverage

Add Cancer and Heart/Stroke to Assurant Health Access• Pair two affordable plans for a package of benefits• Assurant Health Access pays fixed benefits plus

Cancer and Heart/Stroke coverage pays cash • Clients receive lump sum to help alleviate worry

about paying for back-end costs– Inpatient and outpatient treatment – Rehabilitation costs– Non-medical costs like travel, mortgage/rent, gas and

food

Page 18: Cancer and Heart/Stroke plans

18 Assurant Supplemental Coverage

Two affordable plans and extra benefits

• Sell Assurant Health Access Value plan

• Add Cancer coverage • Your client receives help

with everyday health expenses + extra cash for life-threatening cancer

• You receive significantly more commission

Plan shown is Assurant Health Access Value plan and Cancer plan for male, age 40, non-tobacco user in ZIP 78721. Numbers have been rounded.

Plan Monthly premium

Assurant Health Access Value

$74

Cancer $50,000

$23

Total premium

$97Valuable package of benefits for less than $100/ month!

Page 19: Cancer and Heart/Stroke plans

19 Assurant Supplemental Coverage

Why sell Cancer and Heart/Stroke? Substantial commission!

Tier First-year compensation

1 45%

2 50%

CO, FL, MI and MN Tier 1 40%

CO, FL, MI and MN Tier 2 45%

Page 20: Cancer and Heart/Stroke plans

Cancer and Heart/Stroke affordable rates

Page 21: Cancer and Heart/Stroke plans

21 Assurant Supplemental Coverage

Cancer and Heart/Stroke sample ratesCancer plan$25,000 benefit

Heart/Stroke plan$25,000 benefit

Cancer and Heart/Stroke$25,000 benefit

Individual monthly rates

Male age 30 $8.48 $8.10 $12.58

Male age 40 $13.33 $14.45 $23.78

Male age 50 $26.45 $25.90 $48.35

Family monthly rates

Primary/spouse age 30 and children

$15.53 $11.90 $23.43

Primary/spouse age 40 and children

$27.26 $20.55 $43.81

Primary/spouse age 50 and children

$49.55 $38.55 $84.10

Individual rates are for non-tobacco users in TX. Family rates are for primary, spouse and children (any number), non-tobacco users in TX.

Page 22: Cancer and Heart/Stroke plans

Easy sales process

Page 23: Cancer and Heart/Stroke plans

23 Assurant Supplemental Coverage

Just click to add• Assurant Health exclusive: just a click to add

Cancer and Heart/Stroke to CoreMed, OneDeductible or Assurant Health Access applications

• Clients answer no more than six additional questions for Cancer and Heart/Stroke coverage

• If selling standalone, no more than six application questions and easy submission

• More than 80% of submissions receive immediate response

Page 24: Cancer and Heart/Stroke plans

24 Assurant Supplemental Coverage

Only 2 medical questions for Cancer

Page 25: Cancer and Heart/Stroke plans

25 Assurant Supplemental Coverage

Only 4 medical questions for Heart/Stroke

Page 26: Cancer and Heart/Stroke plans

26 Assurant Supplemental Coverage

Edelivery: your clients’ electronic file cabinetYour clients may choose electronic delivery of policy

information• Clients receive materials more quickly• Clients access policy materials online — no more

filing or struggling to find papers• Save paper to help the planet • Walk through your clients’ e-policy with them to

build your relationship

Page 27: Cancer and Heart/Stroke plans

Covered condition definitions and plan exclusions

Page 28: Cancer and Heart/Stroke plans

28 Assurant Supplemental Coverage

Cancer and Heart/Stroke covered conditionsCancer and Heart/Stroke covered conditions and plan exclusionsCancer and Heart/Stroke coverage provides benefits for cancer; coronary artery disease

or cardiac arrhythmia resulting in heart attack; coronary artery disease or cardiac arrhythmia resulting in coronary artery bypass; coronary artery disease resulting in coronary angioplasty; and cerebrovascular disease resulting in stroke.

Definitions of covered conditionsCancer1. A malignant tumor, including an in situ, and hematopoietic malignancy for which any

of the following is recommended by your health care practitioner:a. Radiation; b. Chemotherapy; orc. Immunotherapy; ord. Complete excision of an internal organ without need for further treatment; or

2. Any metastatic cancer for which no therapy is recommended.For purposes of this policy, cancer does not include:Non-invasive dermatologic carcinomas (basal cell carcinoma [BCC], squamous cell

carcinomas [SCC], melanoma in-situ), cervical carcinoma in situ or other premalignant conditions such as myelodysplastic and myeloproliferative disorders, leukoplakia, hyperplasia; or

An incidental pathological diagnosis found following surgical excision of an organ unless additional chemotherapy, radiation therapy and/or immunotherapy is recommended.

Page 29: Cancer and Heart/Stroke plans

29 Assurant Supplemental Coverage

Covered conditions, cont.Heart coverage:Coronary artery disease: acute coronary occlusion, coronary atherosclerosis, aneurysm and

dissection of the heart, and coronary atherosclerosis due to lipid rich plaque.Cardiac arrhythmia: cardiac dysrhythmias, paroxysmal supraventricular tachycardia,

paroxysmal ventricular tachycardia, atrial fibrillation and flutter, and ventricular fibrillation and flutter.

Heart attack: a myocardial infarction resulting in the death of an area of the heart muscle due to insufficient blood supply to that area. The basis of the diagnosis must include:

• serial measurements of cardiac biomarkers showing a pattern and level consistent with an acute myocardial infarction; and

• new electrocardiographic changes consistent with acute myocardial infarction. For the purposes of this policy, heart attack does not include:1. Any other disease or injury involving the cardiovascular system; 2. A cardiac arrest that is not caused by myocardial infarction.Coronary artery bypass: a procedure which uses a saphenous vein or internal mammary

artery graft to surgically bypass obstructions in a native coronary artery or arteries to treat coronary artery atherosclerosis. Coronary artery bypass does not include balloon angioplasy, laser relief of obstruction or any other intra-arterial procedures.

Coronary angioplasty: an interventional procedure to widen or unblock the right coronary artery; left main stem; left anterior descending; or circumflex artery.

Page 30: Cancer and Heart/Stroke plans

30 Assurant Supplemental Coverage

Covered conditions, cont.Stroke coverage:Cerebrovascular disease: subarachnoid hemorrhage, intracerebral

hemorrhage, occlusion and stenosis of precerebral arteries, and occlusion of cerebral arteries.

Stroke: brain tissue infarction due to acute cerebrovascular incident, embolism, thrombosis or hemorrhage. The basis of the diagnosis must include imaging documentation of new brain tissue infarction in association with acute onset of symptoms consistent with central nervous system neurological damage.

For the purposes of this policy, stroke does not include: 1. Transient ischemic attacks (TIAs). 2. Transient global amnesia (TGA).3. External trauma causing accidental injury to the brain. 4. Brain damage due to infection, vasculitis, encephalopathy and inflammatory

disease. 5. Ischemic disorders of the vestibular system.

Page 31: Cancer and Heart/Stroke plans

31 Assurant Supplemental Coverage

Pre-existing condition limitationA pre-existing condition is not eligible for benefits unless the first-ever

diagnosis occurs after the pre-existing condition limitation period has expired. We will not pay benefits for specified diseases that are, result from or are related to a pre-existing condition diagnosed within the first 12 months this plan is in force.

Definition of pre-existing condition (varies by state)A specified disease:• For which medical advice, consultation, care or treatment was sought,

received or recommended from a provider or prescription drugs were prescribed during the 24-month period immediately prior to the covered person’s effective date, regardless of whether the condition was diagnosed, misdiagnosed or not diagnosed; or

• That produced signs or symptoms during the 24-month period immediately prior to the covered person’s effective date.

The signs or symptoms were significant enough to establish manifestation or onset by one of the following tests:

• The signs or symptoms reasonably should have allowed or would have allowed one knowledgeable in medicine to diagnose the condition; or

• The signs or symptoms reasonably should have caused or would have caused an ordinarily prudent person to seek diagnosis or treatment.

Page 32: Cancer and Heart/Stroke plans

32 Assurant Supplemental Coverage

Cancer and Heart/Stroke exclusionsThis plan provides benefits for specified diseases (listed earlier) identified in

the benefit schedule. We will not pay benefits for claims resulting, whether directly or indirectly, from specified diseases related to or resulting from any of the following:

• Any disease the covered person was diagnosed with prior to the effective date of this policy.

• Any disease first diagnosed in the applicable benefit waiting period (as shown in the benefit schedule) immediately following the policy effective date. In such event, we will terminate the covered person’s coverage under this policy and refund the premium paid for that coverage.

• Arrhythmia resulting in heart attack in association with use of an illegal drug or controlled substance, except when administered with advice of the covered person’s health care practitioner.

• Any amount in excess of any maximum benefit.• Diseases or conditions that do not meet the definition of a specified

disease in this plan.• Suicide or attempted suicide.• Self-inflicted sickness, injury or accidental injury.

Page 33: Cancer and Heart/Stroke plans

Thank you!

Assurant Health is the brand name for products underwritten and issued by Time Insurance Company, Milwaukee, WI.

J-102829 (4/2012)