specified health event protection - she. 2 introduction designed to increase revenue more...
TRANSCRIPT
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Specified Health Event Protection - SHE
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Introduction
• Designed to increase revenue
• More competitive in the marketplace
• Broadened benefit structure
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Specified Health Event (SHE)
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Specified Health Event ProtectionThe Need
• SHE addresses the growing burden of higher
– Copayments
– Deductibles
– Provider expenses
• Risks for
– Heart Disease
– Stroke
– Burns
– Organ Transplants
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Specified Health Event ProtectionThe Need
Heart Disease
700,000
500,00032%
49%
Paralysis:Spinal Cord Injuries
Vehicular50%
Other6%
Sports9%
Violence11%
Falls24%
Estimated Women
Reoccurrence Men
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SHE Age Limits
• Age Banded
• Payroll: 18–70
• Nonpayroll: 18–64
• Dependent Children: Covered up to age 25
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SHE Eligibility
• Billing
• Plan Options
• Combination Benefits
• Primary Specified Health Events
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SHE BenefitsPlans 1 and 2
• First-Occurrence Benefit– Primary/Spouse: $5,000– Child: $7,500
• Reoccurrence Benefit: $2,500
• Hospital Confinement Benefit: $300
• Secondary Specified Health Event Benefit: $250
• Continuing Care Benefit: $125
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SHE BenefitsPlans 1 and 2
• Ambulance Benefit: Ground $250, Air $2,000
• Transportation Benefit: $0.50/mile
– Limited to $1,500/occurrence
• Lodging Benefit: $75/day
• Waiver of Premium Benefit
• Continuation of Coverage Benefit
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SHE BenefitsPlan 2
• Major Human Organ Transplant Benefit: $25,000
• HIC Benefits
– Hospital Intensive Care Unit Benefit
Sickness Injury Days
$700/day $800/day 1–7
$1,200/day $1,300/day 8–15
– Confinement in a Step-Down Intensive Care Unit:
Sickness Injury Days
$350 per day $350 per day 1–15 or
$350 per day $350 per day 16–30 (ICU)
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SHE BenefitsPlan 2
• Progressive Benefit: $2 indemnity
• First-Occurrence Building Benefit Rider: $500
• Primary Specified Health Event Recovery Benefit Rider: $500/month
SHE BenefitsRiders
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Personal Recovery PlusA-70000 Series
New SHE Protection A71000 Series
Policy Provisions
Age Availability18–70 (Payroll)
18–64 (Direct/Nonpayroll)18–70 (Payroll)
18–64 (Direct/Nonpayroll)
Bill Form Availability All All
SNG Payroll and Direct No Yes
Policy Benefits
First-Occurrence Benefit Primary/Spouse/Dependent
Level 1: $2,000Level 2: $5,000
Primary/Spouse$5,000
Dependent$7,500
Reoccurrence BenefitLevel 1: $1,000Level 2: $2,500
$2,500
Daily HospitalizationLevel 1: $200/dayLevel 2: $300/day
$300/day
Continuing Care Benefit $100 $125
Transportation BenefitUp to $1,500
100-mile radiusUp to $1,500
50-mile radius
SHE Product Comparison Chart
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Personal Recovery PlusA-70000 Series
New SHE Protection A71000 Series
Policy Benefits
Lodging$60/day
100-mile radius$75/day
50-miles radius
Ambulance Benefit$100 – Ground$1,000 – Air
$250 – Ground$2,000 – Air
Secondary Specified Events No $250 per procedure
HIC Benefit No
Sickness$700/day (Days 1–7)
$1,200/day (Days 8–15)Injury
$800/day (Days 1–7)$1,300/day (Days 8–15)
Step-Down ICU$350/day (Days 1–15) or
$350/day ICU extended (Days 16–30)
Progressive Benefit No Plan 2 Only: $2/month
Major Human Organ Transplant Benefit
No Plan 2 Only: $25,000
Waiver of Premium Benefit Yes Yes
Building Benefit Rider No Yes
Recovery Benefit Rider No Yes
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SHE Policy Sample
• Plan 1: A71100
• Plan 2: A71200
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SHE Applications
• Payroll: A71001 and A71001A
• Nonpayroll: A71002 and A71002A
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SHE Forms
• Payroll Account/Insurance Acknowledgment: M0138B
• Change/Reinstatement: A71003 and H-L0046
• Claims: S-3087, A-2575, S-00198, and S-2029
• Brochure: A71175 Plan 1 and A71275 Plan 2
• Outline of Coverage: A18425 Plan 1 and A18425H Plan 2
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SHE Premium Rates
• MRS073
• Rates are age-banded.
• Rates are listed for base plans.
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SHE Commissions
First Year Renewals
New Associate 40.00% 7.00%
Veteran Associate 31.30% 10.00%
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Marketing SHE Protection
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Selling SHE
• Plan Discount
• Target Market
– Comprehensive Umbrella
– HSAs
– Age Bands
– Younger Males
– Parents
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SHE Into L.E.A.S.E.
• Steps
• Level of Importance
• Time
• Transition Statements
• Trial Closes
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SHE Into L.E.A.S.E.
• Aflac Credibility
• Fact-Finding
• Need
• Product Overview
• Close
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Overcoming Objections/Additional Products
• Cornering Technique
– Isolate Objections
– Rewind and Replay
• Other Objections
• Offering Additional Products
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SHE Conversions
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Existing Product Convert To Conversion Limitations
Personal Recovery Plus (Series A-70000)
Specified Health Event Protection Plan One or Two (Series A-71000)
Cannot have an existing Aflac Personal Recovery Plus policy in addition to a Specified Health Event Protection plan
Cannot purchase the Hospital Intensive Care Protection plan and the Specified Health Event Protection (Plan Two)
Personal Recovery Plus Specified Health Event Protection Plan Two Only (Series A-71000)
Cannot convert Hospital Intensive Care and Specified Health Event to Specified Health Event Protection (Plan One)
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Thank you and Good Luck!