National Insurance Agency Ken Smith Director Of Critical Illness and Disability Income [email protected]
Dec 23, 2015
National InsuranceAgency
Ken Smith
Director Of Critical Illness and Disability Income
Who is Assurity?
Located in Lincoln, Nebraska – successor to Woodmen Accident and Life Company, founded in 1890
A- Excellent, (4th highest of 16 ratings for financial strength) from A.M. Best Company
Member of Assurity Security Group, Inc. whose assets exceed $2 billion.
Who Is Assurity? (cont.)
Offering a well-rounded portfolio of unique products for the family market you reach
Specializing in disability income, critical illness, life, and annuity products
Providing quality Home Office service to you New business 4 business day service
guarantee on simplified underwritten products
NonMed Term 350NonMed Term 350
The Age of the Black BoxThe Age of the Black Box
For Agent Use OnlyPolicy Form I L0760
Life Insurance PolicyLife Insurance Policy
The Big DealThe Big Deal
The Product The Product
NonMedical NonMedical ConvenienceConvenience
Affordable PriceAffordable Price Maximum Rider Maximum Rider
FlexibilityFlexibility ConvertibilityConvertibility
The ProcessThe Process
Paper Application Paper Application Home Office Submission Home Office Submission
(Phase 1)(Phase 1) Black Box UnderwritingBlack Box Underwriting
(MVR, MIB, Script Check)(MVR, MIB, Script Check)
Decision RenderedDecision Rendered70% Automated70% Automated
Refer to UnderwritingRefer to Underwritingfor offers up to Table 8for offers up to Table 8
The Product: The Product: NonMedical ConvenienceNonMedical Convenience
NO needles NO fluids Decisions in days not months Higher face amounts for nonmedical
underwriting Standard nontobacco premium equivalent
to fully underwritten case
““Today
Today convenience
convenience
is the success factor of
is the success factor of
just about every type of
just about every type of
product and service that
product and service that
is showing steady
is showing steady
growth”
growth”
The Product: Affordable PriceThe Product: Affordable Price$200,000 Face Amount 20 Year Level Term$200,000 Face Amount 20 Year Level Term
(male, non tobacco, monthly premiums)(male, non tobacco, monthly premiums)
Age
LifeScape Term
(Standard N/T)
LifeScape Term
(Preferred)
Non Med Term 350 (Select+)
Non Med Term 350 (Select)
Non Med Term 350 (Standard)
Fidelity Life(Select)
American Fidelity
(NT)
2020 $ 27.28 $ 27.28 $ 20.42 $ 20.42 $ 16.90 $ 16.90 $ 19.71 $ 19.71 $ 26.05 $ 26.05 $ 19.05$ 19.05 $ 23.40$ 23.40
2525 $ 27.28 $ 27.28 $ 20.42 $ 20.42 $ 19.36 $ 19.36 $ 21.47 $ 21.47 $ 28.69 $ 28.69 $ 19.05 $ 19.05 $ 23.40 $ 23.40
3030 $ 27.63 $ 27.63 $ 20.42 $ 20.42 $ 20.24 $ 20.24 $ 23.58 $ 23.58 $ 31.33 $ 31.33 $ 22.88$ 22.88 $ 26.48 $ 26.48
3535 $ 30.27 $ 30.27 $ 22.88 $ 22.88 $ 27.10 $ 27.10 $ 32.31 $ 32.31 $ 44.00 $ 44.00 $ 27.93 $ 27.93 $ 32.58 $ 32.58
4040 $ 39.25 $ 39.25 $ 29.04 $ 29.04 $ 38.37 $ 38.37 $ 46.29 $ 46.29 $ 64.59 $ 64.59 $ 38.02 $ 38.02 $ 48.42 $ 48.42
4545 $ 59.49 $ 59.49 $ 42.59 $ 42.59 $ 57.02 $ 57.02 $ 69.17 $ 69.17 $ 97.15 $ 97.15 $ 53.68 $ 53.68 $ 71.46 $ 71.46
5050 $ 89.76 $ 89.76 $ 63.18 $ 63.18 $ 89.58 $ 89.58 $ 107.01 $ 107.01 $ 147.66 $ 147.66 $ 95.44 $ 95.44 $ 111.96 $ 111.96
5555 $ 130.24 $ 130.24 $ 90.82 $ 90.82 $ 142.03 $ 142.03 $ 167.90 $ 167.90 $ 227.22 $ 227.22 $ 167.65 $ 167.65 $ 161.82$ 161.82
6060 $ 202.22 $ 202.22 $184.10 $184.10 $ 212.96 $ 212.96 $ 250.80 $ 250.80 $ 337.22 $ 337.22 n/an/a $ 247.14 $ 247.14
The policy descriptions of companies referenced in this document were not furnished by those respective companies. If there are questions regarding the descriptions provided, please contact a representative of the particular company.
The Product: Rider FlexibilityThe Product: Rider Flexibility Disability Waiver of Premium RiderDisability Waiver of Premium Rider Monthly Disability RiderMonthly Disability Rider
Two-year benefit; 90-day elimination; Two-year benefit; 90-day elimination; simplified underwritingsimplified underwriting(1.5% of face amount up to $3,000 maximum)(1.5% of face amount up to $3,000 maximum)
Accident Only Disability RiderAccident Only Disability Rider Children’s Term Insurance RiderChildren’s Term Insurance Rider Critical Illness RiderCritical Illness Rider
$20,000 - $100,000 lump-sum benefit; $20,000 - $100,000 lump-sum benefit; signature Assurity category approachsignature Assurity category approach
Return of Premium RiderReturn of Premium Rider Available for 20- & 30-year plansAvailable for 20- & 30-year plans
Other Insured RiderOther Insured RiderRider Form Nos. R I0762, R I0763, R I0764, R I0765, R I0766,R T25, R T27-E, A-R M35
Life InsuranceSimplified Whole Life:
Special Marketing features: Has:
Guaranteed and Level Death Benefits Guaranteed Cash Values Guaranteed and Level Premium
Simplified Underwriting with Jet Issue.
Level Benefit
• $5,000 - $50,000
• “No” to all health questions
• No physical
Graded Benefit
• $5,000 - $35,000
• “No” to all health questions in sections A & B
• No physical
Benefit payment
• 40% face year 1
• 75% face year 2
• 100% face year 3+
Modified Benefit
• $5,000 - $25,000
• Coverage possible for those finding coverage hard to find
• No physical
Benefit payment
• 110% return of premium in year 1
• 110% return of premium in year 2
• 100% of full face amount in year 3+
LifeScape Simplified Whole Life Insurance-- 3 great products options in 1 application --
Life InsuranceSimplified Whole Life Portfolio:
Non-illustrated product Age 0 - 80 Available Face Amount $5,000 - $50,000 Simplified Application Yes/No Underwriting No Paramedical Exam Tobacco & Non-Tobacco Rates, M & F Personal History Interview
Simplified WL App
Simplified WL App
Simplified WL App
Acci-Flex – Revolutionary New Product!
Accidental Life
+ Accidental DI Rider
+ Return of Premium Rider
Acci-Flex
Issue ages 18 to 60 (age last birthday)
Issue amounts $50,000 to $250,000
$45 policy fee commissionable
Underwriting = male/female/non-medical
Limited health questions Quick issue for qualified
applications
Affordable for everyone Accidental DI Rider
90 day elimination 2 year benefit $1800 max monthly
benefit Waiver of Premium Return of Premium
Acci-Flex Sample Rates
Can you sell this?
Male age 40, $150,000 coverage, $1500 DI Return of Premium
Non-SmokerIndustry Average Premium
$100 MonthlyNew Acci-Flex Life
$32 monthly
SmokerIndustry Average Premium
$175 MonthlyNew Acci-Flex Life
$32 monthly
Acci-Flex App
Critical IllnessWhy Assurity?
AssurityBalance Simplified Critical Illness (cont.) Return of Premium Death Benefit included: If
insured dies (of any cause) 100% of premiums paid (less any benefits received) are paid to the beneficiary
CI Riders: Return of Premium Rider Disability Waiver of Premium Rider Accidental Death Benefit Spouse Rider Children’s Rider