Product Basics
Disqualifiers
Enhancing the Plan
Lincoln Money Guard
Potpourri
100
What are the acceptable Age ranges for Mass Mutual Care Choice One? (Non-Smoker)
35-69
100
If the client has already been declined for life insurance can they still be approved for Mass Mutual Care Choice One?
As a general rule No, there are only a few specific circumstances that could allow for approval.
100
In what tab/s could we model in LTC coverage in PGC?
Expenses in analysis or in the beginning of the tool. We can use the data from the client viewpoint to use a state specific average.
100
What initial payment options exist for Lincoln Money Guard?
Flex Pay year 1-10 or Single Pay
100
How do you generally determine the LTC benefit Pool and Death Benefit. For a client around 60 year old.
Single Premium x 3 = LTC Pool / 2 = Death Benefit
200
What are the acceptable age ranges for tobacco users considering Mass Mutual Care Choice One?
35-65
200
Who is responsible for completing the prequalifying checklist?
Life Planning Consultant, you should be familiar with what is on the list to avoid sending them people who will not qualify.
200
How many months would we model in LTC costs and when in the clients life?
Last 48 months of life for client
200
What is the average dividend rate for Lincoln Money Guard?
Trick question! It doesn't pay dividends!
200
What is a good rule of thumb to determine surrender value?
85% of Premium to start however non-guaranteed dividends can raise that over time.
300
What is the minimum purchase amount for the product?
$25,000 is the minium purchase. The Maximum purchase is $720,000
300
A client used a walker for a brief period, post knee surgery. How long must the client wait before purchasing LTC?
12 months
300
What is the average duration of LTC needs?
3 years
300
What is the elimination period for Lincoln Money Guard?
0 Days vs. 90 days for Care Choice One however most clients will use Medicare's 90 day hospital benefit. For the first period of the LTC need
300
Within 0.5% what is the 2017 Dividend Rate for MassMutual?
6.7%
400
What is the calculation used to determine monthly benefit from the LTC pool
LTC Pool / 48 = Monthly Benefit
400
Client is electing for a future cosmetic surgery what is the impact to getting approved for LTC?
Future surgeries including cosmetic surgeries could disqualify the client, they should wait until they are recovered before purchasing.
400
Where do clients find the interactive tool for LTC cost and comparisons state by state?
Fidelity Viewpoints
400
What are Mass Mutual and Lincolns AM Best Ratings?
Mass Mutual: A++ Lincoln: A+
400
How are you compensated for a client purchasing a policy?
2.5 x initial premium + Flows
500
2 of 6 activities must require support, what are the 6 activities of daily living?
Bathing, Continence, Dressing, Eating, Toileting and Transfering
500
What Body Mass Index (BMI) would potential disqualify the client
40 BMI
500
In Georgia within $200 what is the median Private Room Nursing home cost ?
10,007
500
Name 2 of the 3 ways Care Choice One could provide an advantage over Lincoln Money Guard
Dividends, Higher Surrender Value of the policy, Higher Non-Guaranteed Death Benefit.
500
A Client only needs 1 day a week of care, how long will it take to get past the 90 day elimination period?
90 days... 1 day a week of care = 7 days of care in the calculation (huge advantage for the policy vs. our competitors.)
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