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AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
AIG CriticalCare Plus
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AIG CriticalCare Plus

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  • 1. AIG CriticalCare Plus Immediate Payout to Fill a Critical Gap
  • 2. 22FOR TRAINING PURPOSES ONLY Life Insurance is a key component to any financial plan But What If you Don’t Die?  Tremendous breakthroughs in medical technology have vastly improved survival rates  Life expectancy has increased by over 30 years in the less than 100 years  Medicine saves people, but quality health care does not come cheap
  • 3. 33FOR TRAINING PURPOSES ONLY Do you know anyone who has survived a stroke, heart attack or cancer? Would a lump sum payment of $50,000 or $100,000 at time of diagnosis have made a positive difference in their life?
  • 4. 44FOR TRAINING PURPOSES ONLY  This year about 1.2 million Americans will suffer a heart attack, and nearly 60% will survive  Over 1.3 million Americans will be diagnosed with cancer this year, and 64% of them are expected to survive at least five years  Each year about 700,000 Americans experience strokes and 70% survive.  There are 22+ million Americans alive today who have survived a heart attack, stroke, or cancer Survival is a Reality
  • 5. 55FOR TRAINING PURPOSES ONLY  The costs surrounding a cancer diagnosis average $146,000 per patient  According to the American Cancer Society, over 65% of cancer related expenses are indirect, not covered by Traditional Insurance  Over 50% of bankruptcies are medically related The Cost of Surviving
  • 6. 66FOR TRAINING PURPOSES ONLY Your Health Insurance Portfolio Major Medical Insurance  Reimburses for your covered medical expenses  Payments made directly to the provider  Out of pocket costs include: deductibles, co- pays, co-insurance, out-of-network costs, experimental treatments  Premiums usually increase annually with medical inflation
  • 7. 77FOR TRAINING PURPOSES ONLY Harvard Study on U.S. Individual Bankruptcies  Over 50% of all bankruptcies are caused due to a medical/health related crisis  Over 75% of individuals bankrupted by a medical/health related crisis had medical insurance at the onset of the bankrupting illness
  • 8. 88FOR TRAINING PURPOSES ONLY Your Health Insurance Portfolio Disability Insurance  Majority of working Americans don’t have protection in the event of a disability  Plans do not replace all lost earnings, only a percentage  Standard elimination period is 90 days before eligible for benefits  Many occupations are not eligible for coverage or have extra high premiums due to job risk
  • 9. 99FOR TRAINING PURPOSES ONLY Your Health Insurance Portfolio Long Term Care Insurance  Reimbursement of home healthcare, assisted living facility or nursing home expenses  Traditionally a product for the senior market  Must satisfy a waiting period (usually 90 days) before eligible for benefits  Payments made directly to the provider  Benefit amounts selected may not cover the total cost of services. Inflation protection can more than double the cost of coverage.
  • 10. 1010FOR TRAINING PURPOSES ONLY Costs not covered by Traditional Health Insurance Direct Costs  Deductibles  Co-Pays  Policy Exclusions (such as experimental treatment)  Out-of-network medical costs Indirect Costs  Lost Income  Lifestyle changes  Increased financial responsibility  Transportation and lodging for non-local treatment
  • 11. Why Do I Need AIG CriticalCare Plus?
  • 12. 1212FOR TRAINING PURPOSES ONLY CriticalCare Plus  Pays lump sum benefit upon diagnosis of a covered critical illness  Benefit not based on cost incurred or time lost from work  Benefit paid directly to the insured with no restrictions on its use  Pays in addition to other insurance  With few exceptions all occupations are eligible for coverage
  • 13. 1313FOR TRAINING PURPOSES ONLY CriticalCare Plus “Make decisions based on health not wealth” Benefits Provide the Freedom to:  Choose the best hospitals and physicians  Elect treatments or services not covered by traditional health insurance  Pay mortgage, debts, or outstanding bills  Seek experimental drugs or therapies  Modify a home for special needs  Stay home from work until you are ready to return  Replace income, yours or your spouse’s
  • 14. AIG CriticalCare Plus An innovative product from AIG American General
  • 15. 1515FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus  Pays a lump sum benefit directly to you upon diagnosis of one of 12 covered conditions  Minimum Face Amount: $10,000  Maximum Face Amount: $500,000
  • 16. 1616FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus 12 Covered Conditions:  Invasive Cancer  Heart Attack  Stroke  Kidney (Renal) Failure  Coma  In Situ Cancer (25% up to a $25,000 max)  Severe Burns  Loss of Sight, Speech or Hearing  Paralysis (50% for paraplegia and hemiplegia)  Major Organ Transplant (25% payable when placed on UNOS listing)  Coronary Artery Bypass (25% up to a $50,000 max)  Loss of Independent Living
  • 17. 1717FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus LOIL - Unique qualifying event to CriticalCare Plus  Loss of Independent Living is defined as permanent loss of two or more of the six activities of daily living, with an elimination period of 180 days:  Bathing  Dressing  Toileting  Transferring  Continence  Eating
  • 18. 1818FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus  Full benefit is payable through age 70  No reduction at age 65  After age 70; Loss of Independent Living remains the sole covered condition with full benefits payable for life
  • 19. 1919FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Other key product features include:  Preventive Care Benefit  Return of Premium  Best Doctors Endorsement
  • 20. 2020FOR TRAINING PURPOSES ONLY Preventive Care Benefit Pays up to $50 for health screening tests during each calendar year  Blood test for triglycerides  Breast ultrasound  Chest X-Ray  Colonoscopy  Electrocardiogram  Fasting blood glucose  Flexible sigmoidoscopy  Hemocult stool analysis  Mammography  Pap test  PSA (blood test for prostate cancer)  Serum cholesterol to determine HDL and LDL  Serum protein electrophoresis (blood test for myeloma  Stress test
  • 21. 2121FOR TRAINING PURPOSES ONLY Return of Premium Return 100% of all premiums paid upon death of the insured, less any benefits paid to the named beneficiary
  • 22. 2222FOR TRAINING PURPOSES ONLY Best Doctors Endorsement  Access to a national network of over 50,000 doctors, who are personally nominated by their peers and recognized as a specialist in their respective field  Access through an interactive website  Access through doctor to doctor consultation
  • 23. 2323FOR TRAINING PURPOSES ONLY Optional Benefits  Benefit Extension Rider  Medical Personnel HIV Benefit  Accidental Death and Dismemberment
  • 24. 2424FOR TRAINING PURPOSES ONLY Benefit Extension Rider  Allows the policy to continue after the maximum policy benefit has been paid  Additional protection for two types of subsequent diagnosis: continuance and recurrence
  • 25. 2525FOR TRAINING PURPOSES ONLY Benefit Extension Rider (cont’d) Continuance  Pays up to 3X the original benefit amount not to exceed $500,000  Will pay the full benefit for a diagnosis different from what was previously paid  Subsequent diagnosis must occur at least 180 days after the previous diagnosis
  • 26. 2626FOR TRAINING PURPOSES ONLY Benefit Extension Rider (cont’d) Recurrence  Will pay 50% of the policy maximum benefit for second diagnosis of the same illness  Must be two years treatment-free following the original dianosis Note: Treatment does not include maintenance medications and follow-up visits
  • 27. 2727FOR TRAINING PURPOSES ONLY Medical Personnel HIV Benefit  Will pay the policy maximum benefit if the insured is diagnosed with HIV as a result of an accident, which occurred during the normal occupational duties
  • 28. 2828FOR TRAINING PURPOSES ONLY Accidental Death and Dismemberment  Units of coverage are $25,000 each  Six unit maximum  $150,000 maximum
  • 29. 2929FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus In addition to the Lifetime Plan, CriticalCare Plus is also available as:  10 Year Term  15 Year Term  20 Year Term  30 Year Term A more affordable choice only available through AIG American General
  • 30. 3030FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus – 10,15, 20, and 30 year term plans When would I purchase term coverage?  To provide coverage until the children graduate college  To provide coverage for the balance of the mortgage  To provide coverage for the period of an outstanding loan or any other limited financial obligation
  • 31. 3131FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Issue Age  Age 18-64 for all non- smoker plans except the 10 year term plan  Age 18-59 for the 10 year term plan and all smoker plans Rating Structure  Sex Distinct Rates  Tobacco or Non-tobacco  Accept or Reject – no premium rating  5 year age bands  3 Premium Bands: • $10,000 - $50,000 • $50,001 - $100,000 • $100,001 - $500,000
  • 32. 3232FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Benefit Amounts  Minimum - $10,000  Maximum - $500,000 (not to exceed 5x earned income) Spouse Coverage  Up to 5x earned income not to exceed the benefit for the primary insured  If not working, benefit amount is limited to 50% of the working spouse limit up to a maximum of $250,000 Child Coverage  $50,000 maximum, not to exceed the primary insured's benefit amount  The premium covers all children for the same rate
  • 33. 3333FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Underwriting  Face Amounts up to $100,000 • Non-medical underwriting • Fully completed application • MIB
  • 34. 3434FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Underwriting  Face Amounts $100,001 and greater • Paramedical exam to include height/weight, blood pressure and pulse • Full blood profile and urinalysis • Ages 51-64, EKG • $250,000 to $500,000 will require personal history interviews for applicants age 41-64 and APS in all cases
  • 35. 3535FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Underwriting cont’d  The underwriting section of AIG CriticalCare Plus producer guide will provide additional details on underwriting guidelines and practices for this product.
  • 36. Who Are Prospects for AIG CriticalCare Plus?
  • 37. 3737FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who? Individuals in blue collar occupations:  Firefighters  Police officers  Welders  Long haul truckers  Janitors  Waiters/Waitresses Why?  May be ineligible for Disability Insurance  If eligible for Disability Insurance, premiums may be expensive  Can provide protection if loss of earnings is caused by a covered critical illness
  • 38. 3838FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who? High Wage Earning Professionals  Physicians  Attorneys  Corporate Executives  Business Owners Why?  Disability Insurance replacement rates are less than 50% with a monthly maximum of $10,000 - $15,000  Disability benefits may be inadequate to cover monthly living expenses  Can provide additional benefits if loss of earnings is caused by a covered critical illness
  • 39. 3939FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who? Small Business Owners Why?  May be ineligible for Disability Insurance until the business is established  Need to replace business expenses in addition to personal income in the event of a disability  Lump sum payment can be used to keep the business operational during recovery from the critical illness
  • 40. 4040FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who? Individuals with certain medical conditions  Back problems  Knee problems  Situational depression Why?  May be ineligible for Disability Insurance, but can qualify for Critical Illness Protection  May be the only protection available to provide benefits in the event of a loss of earnings caused by a covered critical illness
  • 41. 4141FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who? Stay-at-home parents Why?  Ineligible for Disability Insurance  Additional expenses in unable to take care of the children due to critical illness  Working spouse may need to take time off from work to help with the children and care for the wife (Family Medical Leave Act)
  • 42. 4242FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who?  Individuals with high deductible major medical plans or limited medical plans such as scheduled plans or mini-med plans Why?  Critical Illness insurance can cover the deductibles, co- insurance, and other out-of- pocket expenses in the health insurance plan  Critical Illness packaged with a high deductible may be more affordable than a plan with a low deductible  Will allow you to seek treatment not covered by your medical plan…experimental in/or out- of-network
  • 43. 4343FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who?  Clients with life insurance coverage Why?  Client already understands the need for financial protection  Financially secure in the event of death, but what is your client survives a heart attack, stroke or cancer
  • 44. 4444FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus Prospects Who?  Divorced Parents Why?  Financial Obligations • Child support • Loans for college  Disability insurance may not be sufficient to cover these obligations
  • 45. 4545FOR TRAINING PURPOSES ONLY AIG CriticalCare Plus - Prospects Who?  Single working parents Why?  Additional expenses associated with caring for the children which would not be covered by disability insurance  Unlikely to have sufficient savings to buffer against increases in expenses  Lump sum payment will help alleviate stress they already face as a single parent
  • 46. 4646FOR TRAINING PURPOSES ONLY Pension Plans  Some major pension plans are being discontinued  401k, IRA, ESOP are becoming primary method of retirement savings • Defined contribution plans • Dependent on consistent contributions Skipping contributions, or worse yet, having to take early withdrawals to cover medical expenses can devastate the best laid retirement plan CriticalCare Plus Sales Opportunity #10 Additional Opportunities

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