August 2020

For agent use only

Lumico Life Insurance Company Overview- Introduction for Agents

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AGENDA

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HELPFUL TOOLS AND RESOURCES

Q&A

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LUMICO MEDICARE SUPPLEMENT PRODUCT

DOING BUSINESS WITH LUMICO

01 WHO IS LUMICO

For agent use only

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Who is Lumico?

▪ A rated by A.M. Best*

▪ A+ BBB accreditation

▪ Owned by Swiss Re

▪ 50+ years of selling life insurance

▪ Over 100,000 policyholders

▪ Digital platform and capabilities

*Lumico has an “A” (Excellent) rating by A.M. Best* – the leading rating agency of the insurance industry. “A” is the second highest rating that is awarded and means that Lumico is financially stable and secure.

www.lumico.com

For agent use only

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Key Product Features

Lumico Medicare Supplement Product

Age 65+People with

Medicare Part A & Part B

Who is it for?

• Medicare supplement is available to 65+ for the majority of applicants; Select applicants <65 are accepted for GI applications

• For those who want to secure additional coverage to help with expenses such as co-pays and deductibles

Pricing

Lumico Differentiators

• Offer some of the lowest rate amongst our competitors – pay a lower price today, with more predictive rate changes in the future

• Affordable premiums to help meet financial planning needs

• Easy process with policy issuance within 24 hours and claims processed on an average of 4 days

• Rank amongst the Top 10 companies for Med Supp in the nation

• Stable annual rate increases of below 5% since inception with rate decreases in certain markets

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Medicare Supplement State Availability

Current States

AL AR AZ GA IA

IL IN KS KY LA

MD MI MO MS NC

ND NE NV OH OK

OR PA SC SD TN

TX UT VA WI WV

− Lumico Medicare Supplement is currently active in 30 states

− Expansion into FL, CO, NM, WY and MT by September 2020

For agent use only

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Doing business with Lumico . . . is very easy!

▪ Get appointed

▪ Register for Lumico’s Agent portal

▪ Connect with your clients

▪ Start (or resume) a Lumico application

▪ Submit an application

▪ Monitor your pending and current business

For agent use only

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Doing business with Lumico – Get appointed

Lumico Life Insurance Company covers the cost of agent appointments. You’ll need a health appointment to sell Lumico Medicare Supplement.

▪ If you wish to get appointed, send an e-mail to the Lumicoteam with pertinent information

▪You will then receive an email with a link to DocuSign to complete and submit forms electronically. These will be sent automatically to Lumico’s appointment team.Submitting

your documents

▪Once the paperwork is reviewed and in good order, a background check is ordered.

▪Average time is 5 days but can take up to 30 in some states.

Background Check

▪When background check clears, agents will be appointed in the states you are licensed in.

▪Expect this process to take up to 2 weeks.

▪Once appointed, Lumico’sappointment team will send an e-mail to you with the effective date and states within 48 hours

Appointment

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Doing business with Lumico – Register for Agent Portal

• The Agent Portal can be accessed via the Lumico Agent Center www.lumicoagentcenter.com

• As a first-time user, agents can follow the steps on the Agent Registration page to create their login credentials

• There are a few options available in the agent portal

• Get a quote

• E-app:

• create new e-application

• Continue with an existing e-application

• check the status of all e-applications

• Reports including book of business

• Helpful materials and resources

Marketing materials, including a guide to doing business, product, carrier and eApp guides can be found on Lumico’s Agent Portal

Agents can generate a quote prior to the application using:

▪ Quote Tool in the Agent Portal

▪ CSG Actuarial

We have a list of in network hospitals, state forms and specimen documents accessible in the Agent Portal

Doing business with Lumico – Agent Portal

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▪ In the ‘E-app’ section of the Agent portal, select ‘Create New E-Application’

▪ Agents will be prompted to enter client’s basic information, the med supp product they are applying for, medical history and payment information.

▪ Throughout the journey, agents will be able to see a snapshot of select answers in a ticker tape format at the top of the application

▪ A few noteworthy features:

− Household discounts are available if the client is currently married and residing with their spouse/household member or have been residing with their household member who is age 50 or older for at least the last 12 months

− Clients are able to pay by ACH and have the ability to align their payments with social security payments or a specific day of the month – note that there is a one time policy fee of $25 that will be included in the first premium payment

− An eSignature process is in place for compliance purposes.

Doing business with Lumico – Start/resume an application

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Once an application is submitted, the agent will see a signing status bar to indicate progress to completion

Once submitted, agents can:

▪ Download/print a copy of the documents

▪ Select the option to either have the policy pages and welcome letter sent to the client (via e-mail or physical mail) or to the agent in case they’d like to include a note to the client

− For complete OE applications, you will typically see the approval at the end of the journey – policy pages and welcome letter delivery avg between 1-2 business days*

− For U/W applications that require manual review, please ensure the client is on standby for a phone interview – if phone interview required, decisioning and follow-up avg between 3-10 depending on client availability; if no phone interview is required, decisioning and follow-up avg between 2-3 days

− For GI applications, please ensure client provides all required documentation –processing time depends on this

− Overall, majority of in good order applications will see a decision and follow-up in 3 business days during non-AEP and 5 business days during AEP

▪ Direct your clients to register for the

Doing business with Lumico –Submit an application

*If the applicant does not have their Medicare number yet, applicant is in their 2nd OE period or applicant is over 75, there will be a slight delay

Doing business with Lumico- monitor your business

▪ After submitting business, you will be able to monitor and track your pending and current business in the Agent Portal

▪ You can view individual policy details and also export your book of business in various formats

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Helpful tools and resources▪ Lumico’s website: www.lumico.com

▪ Lumico’s health insurance main homepage: https://www.lumico.com/health-insurance

− access to Lumico’s Agent portal

− access to Lumico’s Customer portal

− access to Lumico’s Healthcare provider portal

▪ Lumico’s marketing materials currently available in Agent Portal or available through your Transamerica director

Agent Portal

− Medicare/Medigap guide

− Underwriting guide

− Consumer product brochure

− Consumer product fact sheet

www.lumico.com/transamerica

− Guide to doing business

− State availability guide

− Infographic

− Agent webinar deck

− Contact information

▪ Lumico’s contact information:

− For agents:

• Appointments/licensing: agency_licensing@iptiq.com

• eApp technical issues, underwriting and customer information: 855-774-4491

• Agent Portal issues or questions about book of business or commissions: webmaster@iasadmin.com

− For customers:

• Customer service number: 855-774-4491 (open M-F 8am-4pm CT)

• Customer service mailing address: PO Box 10875 Clearwater, FL 33757For agent use only

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Commissions will be paid on a 6 month ‘Advance’

schedule.

Commissions

Lumico will pay all commissions directly to UFS and UFS will pay TAN representatives under the current structure with pay closes on the 15th and the end of each month.

Premium commission payments are paid on a 6 month ‘Advance’ schedule.

Payment frequency is as follows:

▪ ‘Advance’, as earned and renewal commissions:

− paid weekly to UFS.

− UFS will continue to pay commissions on current UFS pay schedule

Commission Schedule for available states located under:

TAANI → Sales & Marketing → UFS → Commissions →Lumico Commissions

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Commissions

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Recognition

▪ Leaders Conference− Counts like Transamerica non-core products with no maximum crediting

• Lumico Medicare Supplement – 100% premium credit for policies paid through UFS during conference period

• Credited to total conference points and not core production

▪ Red Shoe Club− Lumico product will count as a health product for the remainder of the 2020 qualification

period

▪ Reporting− Lumico reporting will be added to the Positional Ranking Report

− A leaderboard will be created and posted on TAANI

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Questions?

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Appendix

▪ Customer portal overview

For agent use only

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Customer portal overview

Customers have access to a portal that includes a number of features:

▪ Inquiries:

− View your explanation of benefits and check eligibility for services

− Check the status of your claim

▪ Forms/Documents:

− View and download policy pages, ID card and change forms (e.g. address change, bank change, name change, etc.)

▪ Policyholder services:

− Ability to change your phone number, mailing address and add/update banking information

▪ Network hospitals:

− View a list of in-network hospitals through www.usamco.com/lumico

▪ My profile:

− Ability to change your password and e-mail address

▪ Help:

− Includes FAQs, contact information and links to useful websites

For agent use only