Transcript Slide 1

A D V A N T A G E A G E N T ’0 7
Introduction
Foundation of Advantage Agent
•Making it easier for you to do business
with us
•Agents First
Advantage Agent ’07
•Expanded options for expanding your business
2
AGENTS FIRST
Agents, Our First Customers
Agents First
We recognize that without you we wouldn’t be
in business
We value the pivotal role you play in
getting Assurant Health policies in front of your
clients
We appreciate your efforts on behalf of
Assurant Health
4
Agenda
• New Supplemental Products
• Tools to Help You Sell
• Individual Medical Product Updates
• Question and Answers
5
New Supplemental Products
New Supplemental Products
New products that can be added to
an Individual Medical sale:
•Creating additional revenue opportunities
• Making it easy
– One convenient application
– Convenient, consolidated billing
7
Life Insurance
• Increased commissions on both the Medical
and Life sale
• Affordable premiums
• Available with CoreMed, MaxPlan and
OneDeductible plans
• Underwritten by Time Insurance Company
8
Life Insurance
— Commission Example
$50,000 face value
—
primary insured only
Premium:
Medical coverage annualized premium
$3,413
Life annualized premium
$ 177
TOTAL
$3,590
What you’ll earn:
Medical-only commission ($3,413 x 33%)
Medical with Life Commission ($3,590 x 38%)
$1126
$1,364
Earn an
additional
Note: Spouse-only coverage is also available.
* Point increase varies based on your current commission level.
Rates based on the CoreMed plan, MI, ZIP 49201, $2,000 deductible, 80% benefit percentage,
$6 million lifetime maximum, $0 facility fee, effective date of 5/1/2007, Male age 42 (primary
insured, standard rates), spouse age 42 (preferred rates), two children.
9
$238!
Life Insurance
— Key client features
• Coverage available for primary insured, spouse
and dependents
• Spouse-only coverage available
• Primary insured or spouse face amounts:
— $50,000, $75,000, $100,000, $150,000 and
$200,000.*
• Dependent face amounts:
― Age 2 months to 1 year: $2,000
― Age 1-18 years: $10,000 and $25,000*
*
10
In ID, KY, MT, NH, OK and OR, the $150,000 and $200,000
face values are not available for primary or spouse.
The $25,000 face value is not available for dependents.
Life Insurance
— More client features
• Coverage for persons up to age 64
• Accidental death benefit equal to two times
the face amount
• Accelerated benefit equal to 50% of
face amount of policy
― paid if covered person is diagnosed
with a terminal illness
― life expectancy of 12 months or less
11
Life Insurance
— Sales Made Easy
• One simple application for both health
and life coverage
• No additional underwriting
• No paramed exam required—even at the
highest face amounts
• The convenience of consolidated billing
12
Dental Insurance
— Key agent features
You can now offer your clients the added protection of
Dental Insurance — the process is simple for all involved
Key agent features
• Easy quoting and submission – Just click a box!
• Quick approval - No additional underwriting
• Underwritten by Time Insurance Company
• More commission—paid same as medical
13
Dental Insurance
— Key client features
You can now offer your clients the added protection of
Dental Insurance — the process is simple for all involved
Key client features
• One-stop shopping
• Cash benefits paid directly to clients or to providers
• Flexible coverage – choose any dentist
• Fast claims
• Convenient billing
• Portable
• Guaranteed renewable for life
14
Dental Insurance
— Plan Details
Examples of Dental Wellness Benefits
Exams, X-Rays, Cleanings
$25/visit
Benefits are immediately paid at 100% of the listed benefit
Example:
Single Male, Age 41
Premium: $13.74/Month
Examples of Basic Dental Benefits - Year 1=50%, Year 2+=100%
Amalgam — Three Surfaces
Extraction — Erupted Tooth
Rebase complete or partial denture
$40
$20
$60
Examples of Major Dental Benefits - Year 1=20%, Year 2=50%, Year 3+=100%
Inlay — Metallic — Two Surfaces
Crown
Maxillary Sinusotomy
$125
$125
$335
Combined maximum annual benefit for Basic and Major services per insured person: $1000
Examples of TMJ Services - Year 1-2=0%, Year 3+=$500 lifetime/insured person
Temporomandibular Joint Arthrogram
Maxilla or Mandible — Open Reduction
Mandible — Closed Reduction
.
15
$90
$415
$310
No-Charge Dental
with OneDeductible
• Dental insurance is included
at no charge with all new
OneDeductible plans in
AL, AZ, MI, MT, OK and WY
• Provides coverage including:
– Wellness Benefits
– Basic Services
– Major Services
– TMJ Services
16
No
Charge!
Hospital Indemnity Insurance — Key agent features
The ideal complement to a medical plan with a higher deductible
Key agent features
–
–
–
–
Easy quoting and submission — Just click a box
Quick and easy approval — No additional
underwriting
Underwritten by Time Insurance Company
More commission — paid same as medical
Note: Available with CoreMed, MaxPlan and RightStart.
Not available with OneDeductible or SaveRight HSA plans.
17
Hospital Indemnity Insurance — Key client features
The ideal complement to a medical plan with a higher deductible
Key client features
–
–
–
–
–
–
–
Cash benefits paid directly to clients
Flexible coverage — No restrictions on choice of
doctors or hospitals
Fast claims
Convenient billing
Portable
Guaranteed renewable for life
One-stop shopping
Note: Available with CoreMed, MaxPlan and RightStart.
Not available with OneDeductible or SaveRight HSA plans.
18
Hospital Indemnity
Hospital Indemnity Insurance is available with
CoreMed®, MaxPlan® and RightStart® plans
— Plan Details
Example:
Single Male, Age 41
Premium: $19.88/Month
Examples of benefits:
Initial Hospitalization
$200
Hospital Confinement for Sicknesses
$50/day
Days 1 – 15
Days 16 – 180
$100/day
Confinement beginning in the first 28 days after birth $50/day
Hospital Confinement for Accidents
Days 1 – 15
Days 16 – 180
Coma, Stroke or Paralysis
Rehabilitation Unit
Ambulance
Ground
Air
Up to 2 trips/year per insured individual
Outpatient Surgery
19
$100/day
$200/day
$5,000/person
$50/day
$100/trip
$1,000/trip
$250/surgery
Policy Delivery — Dental and Hospital Indemnity
• Policies
– Mailed directly to clients under
separate cover
20
Marketing Supplemental Products
• Supplemental products are featured in:
– IM product brochures
– IM master brochure
21
Tools to Help You Sell
Tools to Help You Sell
Open 24/7 –
Do business whenever you want
• EASE
• IM Proposal Software
Both now include Express Underwriting
23
EASE
You concentrate on your client, and let EASE
concentrate on the details
• Always displays current rates and products
• Store all prospects online
• Electronic submission
• Real-time access to underwriting status
• Tools to help you sell
– My Sales Link
– My Web Page
24
EASE
— New features
Quick Quote is now HELP ME CHOOSE
•Help Me Choose matches your clients’
preferences to our plan designs
•Answer a few simple questions to produce
the 3 plans that best fit your client’s need
and budget
25
EASE
— Simplified Client Verification
One screen for
client review!
26
Attestation in
less time!
New IM Proposal Software
•Improved look and feel
•Built-in software update reminders
•New electronic submission capability
– Now includes industry-leading Express
Underwriting
– Work offline and upload applications at
your convenience
27
Application Submission Options
Choose the one that’s best for you!
Option 1
Agent completes full
submission in
software
Option 2
Agent uploads quote
only
New!
• You do quote then complete
the 17 medical questions offline
• Upload application to EASE to submit
• Client verifies online
• You do quote then upload application
into EASE
• Follow traditional EASE process for
submission
Option 3
Agent prints quote
28
• Use long-form paper application
• Use Tele-App paper application
• Attach printed quote
Express Underwriting
The quickest way from quote to issue
•Ease
– Complete the entire process online or offline − no paperwork
– “One and Done” − no follow-up call required
•Speed
–
–
Healthy applicants answer as few as 17 questions
Policies issued in 24-48 hours
•Control
–
–
You choose how involved you want to be
Uses 5-year medical history
Increased placement — 75% of applicants are issued
without talking to an underwriter!
29
Five Steps for Express Underwriting
Step 1: Run quote and complete the client demographic information.
Select “Begin Submission” in Software to enter health history.
Step 2: You complete the 17 health questions with client.
Step 3: You upload completed application to Assurant Health
via EASE.
Step 4: Assurant Health sends online confirmation and link to
verifyhealth.com — you forward to client for their verification.
Step 5: Client attests to information and submits back to
Assurant Health for issue.
Result: An issued policy in as few as 24-48 hours.
30
Submit Options
Preferred method
Preferred method
31
Completing the Health Questions
Healthy clients
quickly answer only
17 questions!
Overall experience
is improved for ALL clients –
Policies can be issued in as few as 24 hours.
32
If a Client Answers “Yes”...
33
Answers to certain
questions prompt follow-up
questions that are
completed online
Clients with extensive
medical history may
receive a call from an
underwriter
The Result:
a faster,
more efficient
experience
Online Verification
EASE includes a simple online
verification process
Clients
receive
link to verify
their
information
online
34
Individual Medical Product Updates
RightStart® Cancer Benefit
Protection when your clients need it most
•
Increases Outpatient Services Maximum by
$25,000 per person per calendar year
– Triggered based on diagnosis and treatment of cancer
– Benefit amount is in addition to the outpatient annual
maximum selected with the plan (ex. $10,000 benefit
increases to $35,000)
–
•
36
Once benefit is activated, funds can be used for any covered
outpatient expense - not just cancer-related expenses
– Benefit resets each calendar year
Optional benefit on all RightStart® plans
in most states
RightStart® Cancer Benefit
Easy to Sell
• No additional underwriting or paperwork required
• Rates are affordable
–
37
Example: a 41-year-old single male in
WI ZIP 53202 can upgrade from a
$10,000 outpatient benefit for $13.49/month
RightStart® Cancer Benefit
Examples of cancer treatments typically
provided on an outpatient basis:
•
•
•
•
38
Chemotherapy
Radiation therapy
Office visits to an oncologist
Follow-up diagnostic and lab tests
HSA Enhancements
•Rates for OneDeductible plans with
coinsurances of 80%, 60% or 50% have been
reduced by 6%
•Convenient line of credit available to
HSA Tools customers
39
HSA Enhancements
— Legislation
Relaxed limits on 2007 HSA contributions
• Clients can contribute up to the full annual
limit, regardless of when they open their
accounts during the year.
• Contributions are no longer limited by the
selected deductible.
Account holders can contribute up to:
–
–
$2,850 for single coverage
$5,650 for family coverage
•More HSA information is available at:
http://ustreas.gov/press/releases/hp209.htm
40
Recurring Credit Card Payments
•Recurring credit card payment is now
available for quarterly, semi-annual and
annual billing modes in all states
•Recurring credit card payment remains
available for all billing modes (including
monthly) in AZ, CT, KS, NC and OH
41
Multiple-Year Rate Guarantees
•2-year rate guarantee at no additional cost
•3-year rate guarantee available
– no renewal increase until 2010!
– for client and agent peace-of-mind
42
$0 Deductible Package
• The $0 Deductible Package offers:
– Simplicity — immediate benefits with no
medical deductible
–
Convenience — copay for doctor visits
• Available on RightStart PPO, CoreMed and
MaxPlan, including:
–
–
–
$45 copay
50% coinsurance
$10,000 coinsurance out-of-pocket maximum
• Save up to 23% on RightStart®!
–
43
Note: $500 deductible RightStart®
Improved HealthyDiscount Program
•10% off for as many as 6 renewals!
•Give your clients greater control over their
health care costs now and for years to come.
– Program extension
– Relaxed claims criteria
– A clean slate each renewal period
44
This presentation provides summary information. For a complete listing of benefits, exclusions and
limitations, please refer to the certificate of insurance.
For agent use only. Assurant Health is the brand name for products underwritten and issued by
Time Insurance Company, Union Security Insurance Company and John Alden Life Insurance Company.
Form J-51700 (3/07)
Thank You
Initiatives at a Glance