Benefits I
What is the highest face amount that someone can apply for?
$500,000
How many EMPLOYER chosen riders are available for the group whole and term life policies?
6 total (6 available on whole life and only 3 of them available on the term life)
______ % of the adult population does not have life insurance.
40%
How many competitors does Aflac compare / position our new life insurance to?
3!
1) All State
2) TransAmerica
3) Colonial
Aflac group whole and term life is always offered on a(n) _______ tax basis
AFTER or POST tax basis
What is the lowest face amount that someone can apply for?
$20,000
How many EMPLOYEE chosen riders are available on the group whole and term life policies?
4 Total (2 available on whole life, all 4 available on term life)
____% say that they do not have ENOUGH life insurance
20%
What industry classes (SIC) are allowed the option for GI?
A, B, C, E
What is the TOTAL GI amount for all life coverage with Aflac?
$150,000
What are the issue ages for the whole life policy?
18-70
Name 2 of the 4 riders available for the EMPLOYEE to choose:
Child Rider
Spouse 10 yr term rider
Spouse 20 yr term
Spouse 30 yr term
_____% of all consumers are more likely to purchase life insurance if its priced without a physical exam
50%
No benefits shall be paid for an insured who committs suicide within ____ year(s) of the policy effective date.
2 years
If a company has 99 employees or less, what is the MAXIMUM GI amount?
$75,000 for a company that has 50 to 99 benefit eligible employees. MUST HAVE 15 participate to get the $75,000 GI
What are the issue ages for the term life policy?
10 yr is 18-70
20 yr is 18-60
30 yr is 18-50
Name 3 of the 6 EMPLOYER chosen riders for the Aflac group whole and term life policies:
Waiver of premium benefit rider
Accidental death benefit rider
Accelerated death payment for a chronic condition rider
Restoration of the payment of death proceeds rider
Extension of chronic condition periodic payments rider
Line of duty death benefit rider
Almost ____% of people are worried about long-term care, yet just ____% own long-term care insurance.
33% and 15% respectively
The advanced claim payment will not be payable if the insured deaths occurs less than ____year(s) after the effective date.
2 years
What is the max GI amount for an account with 5 - 9 benefit eligible employees?
$25,000 but 5 must participate
When are the guaranteed issue amounts available?
At initial enrollment. (First open enrollment and then for new hires when they become eligible)
Explain the Line of Duty death benefit rider:
Issue ages 18-69. Rider will pay beneficiary the rider face amount if the insured's death is caused by or results from the performance of an activity that is an authorized and required duty of the named insured in his or her work as a first responder. This rider must not exceed 50% of the insured face amount of up to $50,000. Available only for named insured and only on WHOLE life. Public sector accounts only. They can take off the rider when they are no longer a first responder.
1) Easier qualification process
2) Better Value
3) Flexible new rider options
Any accelerated death benefit payment will put a _____ against your certificate. It will be held as a debt and the death benefit will be reduced by this much.
Lien!
Tell the group 3 reasons why someone may need life insurance:
. . .