GT100
If someone is a type 2 diabetic and is on a form of insulin, do they qualify for GT 100? Why or why not?
No, because they are insulin dependent
What is the starting cost for CLP?
$1/week
Is ALX post-taxed or pre-taxed
Post-taxed
What is the minimum amount of coverage for a 10RCW?
$20,000
True or false. Only GT 100 is portable?
False
What is the max amount of coverage that can be considered pre-taxed for GT 100?
What is the maximum amount of coverage for CLP?
$50,000
What is the max amount of coverage?
$30,000
What does 10RCW stand for?
10 year renewable convertible whole life policy
What is the maximum acceptable blood pressure reading for GT 100?
140/90
What are the three different coverage amounts when it comes to age, and what are the ages?
$150,000 = 40 yrs old or younger
$100,000 = 41-55 yrs old
$50,000 = 56 yrs or older
What is the maximum issue age for a dependent when it comes to CLP?
20 years old
Tell me one automatic decline for ALX.
1. HIV/AIDS
2. Confined to a nursing home or hospital
3. Confined to a prison
4. Terminal Illness
5. Alzheimer’s or senile dementia
6.Lou Gehrig’s disease or ALS
7. Use of illegal drugs within the past 2 years
What is the maximum issue age for 10RCW
55 years old
What is the maximum amount of life insurance a client can have?
$250,000
What are all 6 main bullet points for GT 100?
1. Affordability of a term life
2. Longevity of a WL
3. Portable
4. Death benefit never decreases
5. Premium never increases
6. It is pre-taxed
What is the death benefit for a child under the age of 2 months?
1/4 of the face amount
What type of WL is ALX?
Paid up in 20 yrs
True or false. An employee has to have at least $10,000 of GT coverage in order to purchase 10RCW?
True
What is needed in order to file a death claim?
death certificate
What is the max amount of coverage for a dependent child and is it pre-taxed or post-taxed?
$10,000 and post-taxed
What is OPAI and when can a client use this benefit?
Option to purchase additional insurance. A client can use OPAI on the 2nd and 4th policy anniversary date.
What are the stipulations when it comes to an ALX death benefit?
If a client passes away within 3 yrs due to natural causes, no death benefit is paid. If they pass away within the first 3 yrs due to accidental death, they are refunded their premium plus an additional 10% each yr up to yr 10. Year 4 and beyond, they are fully covered.
UP to what age is a 10RCW convertible? Does it require proof of insurability?
70 years old and no it does not require proof of insurability
How much can a client receive via direct deposit for a death claim?