Group Life Insurance
True or False: Life Insurance can help pay for your funeral expenses.
True
Describe Basic Life Insurance.
Non-Contributory. (Employer paid).
How many KBAs do you need?
3 KBAs
EE
Employee
What is Axonify used for?
Reinforcement Learning
What is the "Group" part in Group Life Insurance mean?
Obtained through your employer
Describe Optional Life Insurance.
Contributory. (Employee paid through payroll deductions).
Something you have to get on every call but is NOT a KBA
Name of the caller
ER
Employer
What do you type into your browser to get to Pru Library?
KM
Name 3 reasons to obtain life insurance
Options:
Protect your loved ones.
Pay for your mortgage.
Pay for burial expenses/funeral.
Pay debt.
Leave money to loved ones.
Etc.
Describe Accidental Death & Dismemberment.
Accidental Death = paid out if passes away in an accident. Accidental Dismemberment = EE gets portion of AD&D coverage if in an accident that results in some type of dismemberment.
What form do we need that allows us to speak with an individual for two years but no changes can be made?
TPA - Third Party Administration Form
AD&D
Accidental Death & Dismemberment
What is Pru Library used for?
To look at SOPs/JAs (Standard Operating Procedure/ Job Aids)
What is the provision of life insurance where an employee can get up to 50% of their life insurance while still living?
ABO/LBO (Accelerated Benefit Option/ Living Benefit Option)
Someone has (usually) less then 12 months to live / diagnosed with terminal illness
I am able to enroll into between 1 and 8 times my Base Annual Earnings. What type of plan is this?
Multiple Earnings Plan
What do we need that allows someone other than the insured/Owner to make changes on the policy and has to be renewed after 3 years?
POA - Power of Attorney
SP OL
Spouse Optional Life
What is Waiver of Premium?
A benefit that continues the insured's life insurance coverage, while waiving the premiums, if the employee is found totally disabled.
Last week we discussed an analogy on how to describe group life insurance. What was that analogy?
Group life insurance is like auto/car insurance. You pay in case something happens, but if it cancels then it just cancels. (No cash value).
Ben is the insured and employee. However, he assigned his policy to his sister, Sarah. What is Sarah and who do we discuss the policy information with?
Sarah is the Owner and who we can discuss policy information with.
Name 3 examples of a complex inquiry.
Options:
Coverage Amount Verification
Beneficiary Confirmation
Coverage Change
Cancel Coverage
Beneficiary Change
Billing Change
Payment History
CH BL
Child Basic Life
What are 4 important skills you need in Customer Service?
Active Listening
Empathy
Asking Questions
Creativity