for producer use only. commitment to ltc financially strong 20+ years of experience in ltc market...
TRANSCRIPT
![Page 1: For producer use only. Commitment to LTC Financially Strong 20+ years of experience in LTC market Completed research in the industry resulted in new product](https://reader035.vdocument.in/reader035/viewer/2022070413/5697bfc81a28abf838ca853f/html5/thumbnails/1.jpg)
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For producer use only.
Commitment to LTC
• Financially Strong
• 20+ years of experience in LTC market
• Completed research in the industry resulted in new product offering
• Products with enriched benefits and flexibility
• You choose how you want to sell
• Announcing…… Mutual Care Plus
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For producer use only.
Mutual Care PLUS
What’s the PLUS?
• Individual and Multilife products – A product targeted for a younger buyer…
• 1 easier application that offers both packaged plans– Mutual Care 3 and 5
• Plus the choice and flexibility to tailor your clients coverage– Mutual Care My Way
– Comprehensive coverage that allows them to stay at home longer
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For producer use only.
Mutual Care My Way
Features Mutual Care® My Way
Benefit period 2 year3 year4 year5 year6 year8 yearLifetime
Maximum monthly benefit amount
$3,100 - $15,000(in $500 increments)
Monthly benefit options (percentage of maximum monthly benefit)
Home Care Assisted living Nursing home100% 100% 100%75% 75%50% 50%
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For producer use only.
Mutual Care My Way
Cash benefit amount 35% of home health care monthly benefit
Elimination period calendar days
0 30 60 90 180
Inflation protection 5% compound (lifetime)5% simple4% compound (lifetime)3% compound (lifetime)20 year- 5% compoundNo inflation protection (includes Future Purchase Option)
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For producer use only.
Mutual Care My Way
Optional Benefits• Spouse Shared Care • Spouse Waiver of Premium • Spouse Survivorship • Waiver of elimination period HHC • Additional benefit for injury • Restoration of benefits • ROP’s
– Full ROP at death – ROP less claims paid
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For producer use only.
Mutual Care Plus
• Built in cash benefit 35%– Available day 1 ( 1st day of qualified need)– No elimination period– Can alternate benefits monthly between cash and
reimbursement- however elimination period must be satisfied for reimbursement benefits
– Waiver of Elimination period for Home Health Care does not apply
• Elimination periods:– Calendar day– Waiver of elimination period for HHC – days count toward
elimination period
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For producer use only.
Mutual Care Plus
• Limited pay options– 10 pay
– 20 pay
– To age 65
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Assured Solutions Gold
For producer use only.
Features Assured Solutions Gold
Benefit period 2 year3 year4 year5 year6 year8 yearLifetime
Maximum monthly benefit amount
$3,100 - $15,000(in $500 increments)
Monthly benefit options (percentage of maximum monthly benefit)
Home Care Assisted living Nursing home100% 100% 100%75% 75%50% 50%
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Assured Solutions Gold
For producer use only.
Cash benefit amount 40% of home health care monthly benefit
Elimination period calendar days
0 30 60 90 180
Inflation protection 5% compound (lifetime)4.5% compound (lifetime) With Guarantee Buy-up4% compound (lifetime)3.5% compound (lifetime)3% compound (lifetime)5% compound -2x,3x4x maximum increase20 year- 5% compound5% Simple (lifetime)No inflation protection (includes Future Purchase Option)
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Assured Solutions Gold
For producer use only.
Optional BenefitsCash Benefit increase from 40% to 50%Spouse Shared Care Spouse Waiver of Premium Spouse Survivorship Waiver of elimination period HHC Additional benefit for injury Restoration of benefits ROP’s
Full ROP at death ROP less claims paid
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For producer use only.
Premium Allowances
• Married- 15%
• Spouse/Domestic Partner- 25%
• Association Group- Now 5%– No comp offset
• Producer- 5%
• Medicare Supplement- 5%
• Preferred – 13%
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Multi-Life
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For producer use only.
Mutual Care at Work-Multi-Life
• Group size: 3-250 participants
• Employer Paid & Voluntary programs
• Executive Carve-Out groups
• Core buy-up
• Individual Product - fully portable
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For producer use only.
Mutual Care at Work Eligible Individuals
• Full-time employees (18-64)• Full-time spouses/domestic partners (18-64)• Retirees• Employees 65+• Spouses/domestic partners (65+ or not working full-time)• Parents• Grandparents• Siblings• Adult children (18+)• In-laws or step-equivalents
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For producer use only.
Mutual Care My Way
• Same comprehensive benefits as Individual
• 3 Underwriting Programs– Modified Guaranteed Issue (MGI)
– Simplified Issue (SI)
– Full Underwriting
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For producer use only.
Mutual Care at Work
• Modified Guaranteed Issue – Employer paid only (must purchase minimum benefit level)– Minimum 10 insured full time employees – Only available to employees ages (18-64)– 10% premium allowance– Underwriting Class - Select only– $1,500 -$4,500 Maximum Monthly Benefit– 2 or 3 year Benefit Period – $150,000 Maximum Lifetime Benefit – 3 Underwriting Questions– Spouses (ages 18-64) working 30+ hrs - Simplified Issue – All other employees or other participants - Full Underwriting
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For producer use only.
MGI Underwriting Questions
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For producer use only.
• Simplified Issue– Employer paid or voluntary– 10+ eligible employees/10 insured employees– 10% premium allowance– Underwriting Class – Select only– $1,500 -$9,000 Maximum Monthly Benefit– 2,3,4 or 5 year Benefit Period– $400,000 Maximum Lifetime Benefit – 6 Underwriting Questions– Spouses (ages 18-64) working 30+ hrs - Simplified Issue – All other employees or participants - Full Underwriting
Mutual Care at Work
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For producer use only.
Simplified Issue- 3 addl questions
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For producer use only.
• Full Underwriting– Employer paid or voluntary– 3 to 9 eligible employees/3 insured employees– 5% premium allowance– Underwriting Class - Preferred, Select, Class I or II
• Preferred – 15% premium allowance– $1,500 - $15,000 Maximum Monthly Benefit– 2,3,4,5,6,8 Benefit Period– $500,000 or Lifetime Maximum Lifetime Benefit– Spouses working/non-working and all other participants –
Full Underwriting
Mutual Care at Work