ACCIDENT/HOSPITAL
WHICH OF THE POLICIES (ACC/HOSP), HAVE A PRE-TAX BENEFIT?
ACCIDENT & HOSPITAL CAN BOTH BE PRE-TAXED.
*SALES STRATEGY* It is good practice to communicate to the employee, that pre-tax benefits save approx. 20% making the overall deduction less than the actual cost they are quoted.
WHAT IS THE MAXIMUM FACE VALUE AFLAC OFFERS ON WHOLE/TERM LIFE INSURANCE POLICIES?
$500,000*
*NOTE*The max amount is subject to age at the time of enrollment.
CANCER AND CRITICAL CARE POLICIES ARE CONSIDERED CATESTROPHIC COVERAGE, WHICH WAS THE VERY FIRST POLICY THAT WAS SOLD DOOR TO DOOR?
CANCER IS THE FLAGSHIP POLICY THAT IS THE FOUNDATION OF AFLAC.
WHAT ARE THE 2 TYPES OF D/V AFLAC OFFERS?
#1. AFLAC Supplemental coverage, for those without any dental insurance, also for those who have dental insurance and want to supplement their coverage.
#2. AFLAC Network (PPO/MAC) D/V
What is the age range for Juvenile Life?
14days -17yrs old
WHICH POLICY CAN A WELLNESS BENEFIT BE FILED UNDER, ACCIDENT OR HOSPITAL?
ACCIDENT, HAS A $90 WELLNESS BENEFIT THAT CAM BE CLAIMED ANNUALLY.
THE HOSPITAL POLICY OFFERS A OPTIONAL PHYSICIANS VISIT BENEFIT WHEN THE (EBR) EXTENDED BENEFITS RIDER IS INCLUDED. THIS IS NOT CLAIMED UNDER WELLNESS, AS IT OS TERMED “OTHER” & DOCUMENTATION MUST BE UPLOADED.
IS STD OR LIFE INSURANCE A PRE-TAX BENEFIT?
NO, BOTH ARE POST-TAX.
WHICH ONE OF THE POLICIES HAS BENEFIT THAT ALLOWS THE CASH BENEFIT TO GROW RICHER EACH YEAR BY A MAX OF $500?
BOTH CANCER & CRITICAL CARE POLICIES HAVE A BUILDING BENEFIT THAT MAKES THE POLICIES RICHER YEAR AFTER YEAR.
*FUN FACT* Even though these policies become more valuable over time, the rate remains stable.
Can both supplemental D/V and Network D/V be offered in a account at the same time?
NO!!!
Is there any policy that someone who is 70 years old can enroll in?
Network D/V, Life Ins, Juvenile Life for dependants
ON THE ACCIDENT POLICY HOW MUCH DOES IT PAY FOR THE ANNUAL WELLNESS BENEFIT WHEN IT COVERS A 2-PARENT FAMILY?
$90 CAN ONLY BE CLAIMED BY ONE INDIVIDUAL COVERED, PER YEAR.
CAN A EMPLOYEE COVER FAMILY MEMBERS ON A STD POLICY?
NO, STD ONLY PROTECTS THE EMPLOYEES PAYCHECK.
AT WHAT AGE DOES THE BUILDING BENEFIT STOP GROWING THE INITIAL EVENT BENEFIT?
*SERVICING TIP* Alerting a policy holder that this benefit can be dropped, reducing the premium at 65, increases rapport!
65 YEARS OLD
What is the maxium carry over amount allowed for PPO dental, provided $500 or less was paid as a benefit during a plan year?
$250 per year with a MAX of $1000 over 4 years.
What 3 policies have a benefit that grows richer over time?
Cancer/Critical building benefits, Whole Life cash value
WHAT ARE THE AMOUNTS AVAILABLE FOR THE LUMP SUM BENEFIT ON THE HOSPITAL POLICY?
$500-$1000-$1500-$2000
WHAT IS THE MINIMUM AGE REQUIRED FOR AN EMPLOYEE TO ENROLL IN AFLAC ENROLL IN AFLAC BENEFITS?
18 YRS OLD
*FACT* A dependent can be enrolled in Juvenile Life starting at 2 weeks old.
HOW LONG MUST A CANCER SURVIVOR BE TREATMENT FREE TO ENROLL IN A NON-GI, CANCER POLICY?
5 YEARS
How does the decreasing deductable for Network Dental?
Year 1 = $50 deductable
Year 2 = $25 deductable
Year 3 = $0 deductable
Can a employee enroll in both Whole Life and Term Life at the same time?
YES!
ONCE THE HOSPITAL POLICY GOES INTO EFFECT, HOW MUCH TIME MUST PASS BEFORE THE LUMP SUM BENEFIT CAN BE PAID FOR THE BIRTH OF A CHILD?
10 MONTHS FROM THE EFFECTIVE DATE OF THE POLICY MUST PASS.
EX: IF THE EFFECTIVE DATE IS 12/25/2025, THE LUMP SUM WILL ONLY BE PAID IF THE BIRTH HAPPENS AFTER 10/25/2026.
WHAT IS ONE REASON A EMPLOYEE WOULD CHOOSE TERM LIFE OR WHOLE LIFE INSURANCE?
1. PRICE, TERM IS APPROX 50% LESS EXPENSIVE.
2. THEY ARE PURCHASING A TERM TO COVER THE LENGTH OF A FINANCIAL OBLIGATION SUCH AS A MORTGAGE.
3. THEY ARE PURCHASING A TERM FOR A PIECE OF MIND IN THE EVENT THEY HAVE YOUNG CHILDREN AND WISH TO COVER THE EARLY YEARS OF THEIR LIFE UNTIL THEY ARE FINANCIALLY STABLE.
4. LEGAL OBLIGATION SUCH A CUSTODY DISPUTE THAT REQUIRES THE PARENT TO BE COVERED UNTIL CHILD/CHILDREN REACH 18 YRS OF AGE.
WHAT IS THE MAXIUM INITAL CASH AMOUNT THE CRITICAL ILLNESS POLICY PAYS FOR A HEART ATTACK?
$25,000
Dental and Vision coverage is the "____" most requested benefit.
"2nd" most requested
What is the minimum participation requirment for Network D/V
2 EE under 24 lives or 20%