for agent use only nonmed term 350 for agent use only h280-0710. policy form i l0760 product &...
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FOR AGENT USE ONLY
NonMed Term 350
For Agent Use Only
H280-0710. Policy Form I L0760Product & rider availability, features and rates may vary by state. Policy may contain reductions of benefits, limitations and exclusions.
From Assurity Life Insurance Company
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
Product HighlightsA. Requires no medical exams
- Processed through Assurity’s automated underwriting system
B. Issue Classes
- Select+ non-tobacco/tobacco
- Select non-tobacco/tobacco
- Standard non-tobacco/tobacco
A. Death Benefit Min/Max - $50,000-$350,000
B. Living Benefits (see Riders)
C. Premiums - Level and guaranteed
- 10, 15, 20 or 30 years
- Convertible to whole life
- Annually renewable after term period
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
F. Monthly DI Rider
- Up to $3,000/mo.
- 2 yr. benefit
- 90-day elimination
G. Accident Only DI Rider
- Lesser of 1.5% of base or $3,000/mo.
- 2 yr. benefit
- 90-day elimination
H. Critical Illness Rider
- $100,000
- 3 category approach
I. Children’s Term Insurance Rider
J. Return of Premium Rider (available on 20-year and 30-year plans)
K. Policy Fee - $70, commissionable
Product Highlights Continued
FOR AGENT USE ONLY
FOR AGENT USE ONLYFOR AGENT USE ONLYDecision
“Automated Underwriter”
Understanding the Automated Underwriting Engine
Process
Home Office
E-Application
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
Assurity Niches• Non-Medical Convenience – no needles or fluids
• Affordable Price – our Select+ rates are beating many of the Term shops’ standard rates, and our policy fee is commissionable
• Convertibility – immediate up to 2 years prior to term expiration
• Critical Illness Rider – yes, even on a non-med basis!!
• Critical Illness Rider – does not reduce/accelerate death benefits
• Applications – paper application and E-application
• Automated Underwriting Engine
• 2nd Chance Underwriting – Not Accept/Reject
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
The Situation
Little Life Insurance/No Life Insurance
Know anyone like this?
House debtCredit cards
Student loansCar payments
House
Cars
401(K)
IRA
Liabilities Assets
House
Cars
401(K)
IRAHouse debtCredit cards
Student loansCar payments
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
What Could We Do?
• The answer is simple:– Term insurance up to $350,000– No medical
• You have the protection you need then, right?
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
What Could We Do?
• The answer is simple:– Term insurance up to $350,000– No medical
• You have the protection you need then right?
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
We protected them
against death... Yes,
But what about Life?!?
FOR AGENT USE ONLY
Disability Income Rider
• Every 1.5 seconds someone is disabled in the U.S.
• Every 8 seconds someone is disabled by a work injury in the U.S.
National Safety Council, Injury Facts 2002 Editions
What about the 25% of people who become disabled longer than 6 months?
FOR AGENT USE ONLY
Critical Illness Rider
• Nearly 1.5 million Americans declared bankruptcy in 2001
• 27% listed unpaid medical bills
• Nearly half (46%) met at least one of the criteria for “major medical bankruptcy”
*2004 Harvard Study on Bankruptcy
What about the 48% of people who file for bankruptcy while having a major medical condition?
FOR AGENT USE ONLY
Male, 35, Non Tobacco, Select +
– $300,000 Death Benefit– $1,500 DI Rider– $25,000 CI Rider
– $70.27/month
FOR AGENT USE ONLY Form No. I L0760, R I0762, R I0763, I L0760, R I0827-T, R I0767
Prospecting
• Young Families• Mortgage Script• Existing Client Base• Affordable Alternative to Permanent Insurance
FOR AGENT USE ONLY