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National Insurance Agency Critical Illness

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Developed by Dr Marius Barnard. Originated in South Africa in 1983. Introduced in: England 1987 ... of Critical Illness & Dr Barnard Story. Video. For Broker ... – PowerPoint PPT presentation

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Title: National Insurance Agency Critical Illness


1
National Insurance Agency Critical Illness
  • Ken Smith
  • Director of Critical Illness Disability
  • 800/276-7619 ext 4409
  • ksmith_at_assurity.com

2
Attitude
  • The Shoe Salesman

3
What is Critical Illness Insurance?
  • It Pays a Lump Sum Benefit on the
  • Diagnosis of a Covered Condition

4
Purpose
  • Critical Illness Insurance was created to
    Remove Financial Stress so that the Person can
    Focus on Recovery

Its About Survival
5
Opportunity
  • We believe Critical Illness is the best
    opportunity our generation will have in the
    insurance business

6
Opportunity
  • Meets A Need Not Met by any Other Product
  • Makes a Difference in Peoples Lives
  • No One Owns It - Everyone is a Prospect
  • Sets You Apart

7
History of Critical Illness
  • Developed by Dr Marius Barnard
  • Originated in South Africa in 1983
  • Introduced in
  • England 1987
  • Australia 1990
  • Japan 1993
  • Canada 1994
  • US 1999

8
Successful In Every Country
  • Takes 5-7 years before sales start to develop
  • Sales Ideas are transferable
  • 20 years of Sales Ideas

9
CRITICAL ILLNESS ASG STRATEGY
  • Quality Product
  • Training 2 hr. CE
  • Sales Tools and Sales Support

10
Claims Experience
  • UK Claims Paid
  • Age Male Female
  • Under 40 33 45
  • 41-50 35 35
  • 51-60 23 14
  • Over 61 9 6
  • Average Age of Claims Paid 43

11
Medical Advances have changed our lives and are
changing our world
  • Due to medical advancements
  • People are living longer
  • More critical illnesses are being diagnosed
  • People are surviving critical illnesses
  • Survival has a price

12
Leading Causes of Death in 1900
  • Pneumonia 12
  • Tuberculosis 11
  • Enteritis 8
  • Source The Wall Street Journal, 08/27/01

13
People are living longer
Average Life Expectancy 1900 - 47.3 2001 - 77.2
Source National Center for Health Statistics 2002
14
Lifestyles Today We
  • Diet
  • Smoke (Some of Us)
  • Work more
  • Sleep less
  • Rush

The Result More Stress
15
Church Bulletin
16
Critical Illness Insurance
Your chances of surviving are better than ever...
2000 Heart and Stroke Statistical Update,
American Heart Association 2000 Cancer Facts
Figures, American Cancer Society
17
Critical Illness Insurance
Surviving has a price...
Source 2002 Cancer Facts Figures, American
Cancer Society
18
Survival Has a Price
  • Indirect Expenses
  • Loss of income for self and / or spouse
  • Home modifications
  • Experimental treatment
  • Child care and domestic assistance
  • Transportation and lodging for family members
    and caregivers during treatment

19
Survival Has a Price
  • Fifty percent Of The Bankruptcies In The United
    States Are Due To A Serious Medical Condition

Harvard Study 2005
20
Simplified Critical Illness
  • Benefit Amounts
  • 5,000 50,000
  • Issue Ages
  • 18 - 59

21
Simplified Critical Illness
Covered Conditions and Definitions
100 Benefits Invasive Cancer Heart
Attack Stroke Major Organ Transplant (when
registered with United Network Organ Sharing/UNOS)
Alzheimers Disease Paralysis Renal (kidney)
Failure Coma Major Burns
As defined by the policy. May vary by state.
Exclusions limitations apply.
22
Simplified Critical Illness
Pays 25 of Maximum Benefit
  • When you are diagnosed or require
  • Cancer in-situ
  • Bypass Surgery
  • Pays 10 of the maximum benefit for Angioplasty

As defined by the policy. May vary by state.
Exclusions limitations apply.
23
Simplified Critical Illness Return of Premium
Death Benefit
  • If you die while your policy is in force, you can
    receive
  • 100 of the premiums paid minus any claims
  • or
  • The benefit amount (if from a covered condition)

24
Simplified Critical Illness Optional Benefits
Return of Premium Rider
  • In the event you survive and do not have a
    covered condition, you can receive 100 percent of
    the premiums youve paid at age 75
  • The Return of Premium rider provides increasing
    percentages beginning in the fifth year.

25
Simplified Critical Illness Optional Benefits
  • Spouse Rider can purchase any amount not to
    exceed primary insured
  • Childrens Rider amounts of 5,000 or 10,000
  • Waiver of Premium total disability, 6 month
    elimination period retroactive benefits
  • Accidental Death Benefit any amount up to the
    maximum benefit amount

26
Underwriting Simplified
  • Must Answer Questions No
  • Must Be Within Build Guidelines

27
Underwriting - Simplified
  • Build Guidelines

28
Underwriting - Simplified
  • Tobacco Question-
  • Has the proposed insured(s) used any tobacco or
    nicotine during the past 12 months?
  • Tobacco Rates

29
Underwriting - Simplified
  • Family History
  • Have any two or more of the Proposed Insureds
    natural parents, brothers or sisters, either
    living or deceased, been diagnosed with the same
    condition(s) from the following list
  • Heart disease, stroke, diabetes, kidney disease
    or breast cancer prior to age 60?
  • Colorectal cancer or Alzheimers or Senile
    Dementia prior to age 75?
  • Any other same cancer in both relatives prior to
    age 55?

30
Underwriting - Simplified
  • MIB
  • Telephone Inspection
  • Telephone Inspection every twenty-fifth App

31
Underwriting
  • Simplified Issue Assurity Advantage
  • Fully Underwritten Dont Promise a Policy Until
    You Have One in Hand

32
Markets
  • Major Medical
  • Deductible
  • Co Pays
  • Other Expenses Not Covered

33
  • 50 percent of bankruptcies are due to a serious
    illness
  • Harvard Study

34
Are You Selling A Stool With One Leg?
Health Insurance
35
Are You Selling A Stool With One Leg?
Critical Illness
Association
Health Insurance
36
If you could Increase Your Income by 40 Percent
without talking to one additional prospect
37
  • Ask your prospects If you have a major claim on
    your health insurance, what would be the reason?

38
Markets
  • Mortgage Market
  • Only 3 of Mortgage foreclosures are due to death
  • 48 of mortgage foreclosures are due to a
    Critical Illness

39
Markets
  • Supplement to Disability Income
  • Self Employed
  • Supplement to Group DI
  • Occupations Not Eligible for DI
  • Teachers
  • Government Employees
  • Police and Fire

40
  • What would you do if your employer asked you to
    take a 40 percent pay cut?

41
  • After going through Chemo therapy treatments for
    5 or 6 months, will you want to go back to work
    as soon as you can perform the material and
    substantial duties of your occupation?

42
Personal Needs Analysis
  • If you were diagnosed with cancer or suffered a
    heart attack or stroke, would you want all or
    part of your mortgage balance paid off? What
    amount would meet your needs?
  • OR
  • In the event of a critical illness, would you
    want your credit card or other lines of credit
    paid in full? What amount would meet your needs?
  • Or
  • Six Months of Income




43
How do you Sell Critical Illness?
  • Forget the Statistics
  • Doctors and good medicine created the problem
  • People survive today!
  • 50 years ago they would have died
  • A Doctor created the Solution
  • You need to help the client with options to
    attach the dollars
  • ex. Mortgage, replacement of income, etc.
  • Personal Debt

44
Presenting Critical Illness
  • Organized Presentation
  • Who do you know?
  • History of Critical Illness Dr Barnard Story
  • Video

45
If you knew you would be diagnosed with cancer in
the next 6 months, would you buy this?
46
  • Critical Illness was only accepted by 3 of the
    market in England 10 years ago.
  • Now it is promoted by 99 of the same market.
  • Peter Dodd
  • Pegasus Life
  • London, England November 1999

47
  • Do You Want to Know a Secret to Selling Critical
    Illness?

48
  • Good Meeting
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