This document summarizes a presentation about critical illness insurance policies offered by Western & Southern Life Insurance Company. It outlines covered critical illnesses including cancer, heart attack, and stroke. It notes that critical illness rates have declined over time but indirect costs associated with treatment can be high, including lost income and home health care. The policy pays a lump sum benefit upon diagnosis of a covered illness to help policyholders pay expenses.
Critical Illness Sales Presentation created by Catherine Chaney BowmanCatherine Chaney Bowman
Here's a compelling sales presentation for the less well known but essential insurance product that provides protection in the event of a critical illness
Insurance is different from most products as it is a promise to do something in the future if certain events take place during a specified time period.
Unlike a can of soup, a pair of shoes, or a car, the ultimate cost of an insurance policy is not known at the time of the sale
This Policy provides comprehensive cover against bodily injury resulting in death or disablement arising due to accidents. Major covers under this policy includes accidental death, permanent total disability, permanent partial disability, temporary total disability, etc
Critical Illness Sales Presentation created by Catherine Chaney BowmanCatherine Chaney Bowman
Here's a compelling sales presentation for the less well known but essential insurance product that provides protection in the event of a critical illness
Insurance is different from most products as it is a promise to do something in the future if certain events take place during a specified time period.
Unlike a can of soup, a pair of shoes, or a car, the ultimate cost of an insurance policy is not known at the time of the sale
This Policy provides comprehensive cover against bodily injury resulting in death or disablement arising due to accidents. Major covers under this policy includes accidental death, permanent total disability, permanent partial disability, temporary total disability, etc
Life Insurance Basics provides an overview of most of the types of life insurance products available today and reviews the basics of policies, contracts, beneficiaries and how to buy life insurance. Part of the continuing series of presentations in the Financial Services Industry Training. Contact us if you need training developed for your organization.
Importance of Health Insurance: Incase you get sick or need any kind of medical attention. Can you afford to pay for a doctor’s visit without insurance? Depending on the type of doctor and practice it can cost from www.lifethenfinance.com 2 $95–$265 per visit. Insurance co-pays: $5–$50 per visit. Are you certain you won’t hurt yourself or catch some type of cold? Do you have allergies, wear contacts or need any other type of regular prescriptions? Can you afford those medications without insurance? On average prescription generic medications start around $50. Insurance co pays usually around $5–$20.
ULIPs are innovative forms of life insurance that provide safety of your insurance cover with wealth enhancement opportunities. For more information visit - www.aegonreligare.com/ulip/ulip.php
Even though depression is so common, there are many misconceptions about its symptoms, causes and treatment. The problem is that misinformation gives rise to stigma and isolation. Individuals with clinical depression often feel alone because others expect them to simply snap out of it or stop being lazy. These kinds of myths can make people not want to seek treatment. Untreated depression also can have devastating consequences like health complications, drug or alcohol abuse and suicide. Here’s a selection of myths n facts you might not know about.
How many people in this room expect to need long-term care one day? It’s not surprising that few of us do, because it’s hard to face the fact that our health might decline. But statistics suggest that the risk is greater than we think. Approximately 70% of us--that’s 7 out of every 10 people here today--will need some type of long-term care services during our lifetimes at some point after we reach age 65. And though it's good news that people are living longer, a long life span increases the chance of developing serious health problems. In fact, according to the Alzheimer’s Association, one in nine people age 65 and older has Alzheimer’s disease, which often leads to the need for nursing home care. And while older people are more likely to need long-term care, younger people may need care too, as a result of a disabling accident or illness such as multiple sclerosis or Parkinson’s disease.
This isn’t meant to scare you, but rather to remind you that the need for long-term care can happen to anyone at any time. The need to be prepared is real, and something that you shouldn’t ignore.
IDEAL INSURANCE is one of the largest Insurance Broking house of India providing Risk Management Services to Corporate and Individuals. We provide a Comprehensive Solution to all your Insurance needs. We assure you of our total commitment to our clients’ well being and will ensure the Highest Quality of Service Standards.
We are an specialist in Group Health Management and our technical expertise in the subject can help you
The Ideal Advantage:
1) Lower your Premiums in the long run
2) Manage your claims more effectively
3) Design Suitable covers and customize it regularly to meet employee expectations
4) Tie up With all Insurance Companies in India ensures we will give you the Best Deal and the Best Insurer
5) We will design a Employee Wellness Programme which will ensure better health for your employees resulting into Better Productivity and Lower Claims
We assure you of our total commitment to your organizational well being and will always ensure the Best Risk Management Practices.
You can drop an email at rahul@idealinsurance.in (CEO, Ideal Insurance Brokers Pvt. Ltd.)
Life Insurance Basics provides an overview of most of the types of life insurance products available today and reviews the basics of policies, contracts, beneficiaries and how to buy life insurance. Part of the continuing series of presentations in the Financial Services Industry Training. Contact us if you need training developed for your organization.
Importance of Health Insurance: Incase you get sick or need any kind of medical attention. Can you afford to pay for a doctor’s visit without insurance? Depending on the type of doctor and practice it can cost from www.lifethenfinance.com 2 $95–$265 per visit. Insurance co-pays: $5–$50 per visit. Are you certain you won’t hurt yourself or catch some type of cold? Do you have allergies, wear contacts or need any other type of regular prescriptions? Can you afford those medications without insurance? On average prescription generic medications start around $50. Insurance co pays usually around $5–$20.
ULIPs are innovative forms of life insurance that provide safety of your insurance cover with wealth enhancement opportunities. For more information visit - www.aegonreligare.com/ulip/ulip.php
Even though depression is so common, there are many misconceptions about its symptoms, causes and treatment. The problem is that misinformation gives rise to stigma and isolation. Individuals with clinical depression often feel alone because others expect them to simply snap out of it or stop being lazy. These kinds of myths can make people not want to seek treatment. Untreated depression also can have devastating consequences like health complications, drug or alcohol abuse and suicide. Here’s a selection of myths n facts you might not know about.
How many people in this room expect to need long-term care one day? It’s not surprising that few of us do, because it’s hard to face the fact that our health might decline. But statistics suggest that the risk is greater than we think. Approximately 70% of us--that’s 7 out of every 10 people here today--will need some type of long-term care services during our lifetimes at some point after we reach age 65. And though it's good news that people are living longer, a long life span increases the chance of developing serious health problems. In fact, according to the Alzheimer’s Association, one in nine people age 65 and older has Alzheimer’s disease, which often leads to the need for nursing home care. And while older people are more likely to need long-term care, younger people may need care too, as a result of a disabling accident or illness such as multiple sclerosis or Parkinson’s disease.
This isn’t meant to scare you, but rather to remind you that the need for long-term care can happen to anyone at any time. The need to be prepared is real, and something that you shouldn’t ignore.
IDEAL INSURANCE is one of the largest Insurance Broking house of India providing Risk Management Services to Corporate and Individuals. We provide a Comprehensive Solution to all your Insurance needs. We assure you of our total commitment to our clients’ well being and will ensure the Highest Quality of Service Standards.
We are an specialist in Group Health Management and our technical expertise in the subject can help you
The Ideal Advantage:
1) Lower your Premiums in the long run
2) Manage your claims more effectively
3) Design Suitable covers and customize it regularly to meet employee expectations
4) Tie up With all Insurance Companies in India ensures we will give you the Best Deal and the Best Insurer
5) We will design a Employee Wellness Programme which will ensure better health for your employees resulting into Better Productivity and Lower Claims
We assure you of our total commitment to your organizational well being and will always ensure the Best Risk Management Practices.
You can drop an email at rahul@idealinsurance.in (CEO, Ideal Insurance Brokers Pvt. Ltd.)
When It Comes To Illness The Choice Of Benefit Is Critical June 2011Francois Tranter
Most of us will need some type of chronic illness care during our lifetime. With our retirement savings under pressure and with medical aid benefits falling woefully short, it is time to make critical illness benefits a part of everyone\’s financial planning.
Surprising facts you didn't realize about critical illness insuranceLTCI Partners
Critical Illness Insurance coverage is fast growing - and includes long-term care benefits as well. But many people don't realize that with health underwriting you can get up to $500,000 of coverage
The Perfect Storm - Are You Ready For The Longevity RevolutionFrancois Tranter
Mind-boggling medical technologies are converging into a perfect storm. With the exponential rate of progress we are likely to see unprecedented change in terms of life expectancy. This will have a profound impact on financial planning.
Notes in Psychology: The Mindset of GroupsAhmad Hamdan
A light will be shed on the characteristics of group formations, peer effects, obedience, “People will obey a figure of authority, even if it means hurting another person” (Milgram, 1963) and “When individuals perceive another person as having authority over them, they no longer feel responsible for their actions” (Milgram, 1963).
Info: http://savingsclubcanada.com/what-is-critical-illness-insurance
What Is Critical Illness Insurance
This presentation is for people wondering what is critical illness insurance. It leads to a website to get a critical illness insurance quote.
Critical illness insurance in Canada is becoming more popular every day and it may be a good idea to get a critical illness insurance quote to see if it's a good fit for your needs.
Please visit our YouTube channel:
https://www.youtube.com/user/savingsclubcanada
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Save money on mortgages.
Save money on income tax.
When you were diagnosed with cancer, you were thrust into the fight of your life. But you may have quickly learned that the greater battle was surviving the hit that your cancer care delivered to your bank account.
You’re not alone. Bankruptcy rates are almost twice as high among cancer patients as the general population.
"Patients diagnosed with cancer may face significant financial stress, owing to income loss and out-of-pocket costs associated with their treatment," says Scott Ramsey, MD, PhD, a healthcare economist and internist at the Fred Hutchinson Cancer Research Center in Seattle, Washington. "On average, bankruptcy rates increased 4-fold within 5 years of diagnosis."
Join Fight Colorectal Cancer for a webinar that will detail what resources exist to help patients navigate the very expensive waters of cancer treatment. You will hear from a person who is on the front lines of the battle: Elaine Martinez, a case manager with the Colorectal CareLine at the Patient Advocate Foundation.
Elaine serves as an active liaison between patients and their insurers, employers and/or creditors to resolve insurance, job retention, and/or debt crisis matters relative to their diagnosis of colorectal cancer. Her responsibilities include: exploring reimbursement levels for prescribed colorectal cancer treatments, researching available clinical trials for this patient population and facilitating enrollment into appropriate patient resource programs for both the uninsured and underinsured colorectal patients.
RELATIONSHIP BETWEEN HEALTH AND PRODUCTIVITY
The U.S. economy makes investment in productivity-related health a critical and economically essential initiative. Without effective population health management programs, the profitability and viability of American businesses will be further eroded. According to PricewaterhouseCoopers, healthcare costs are projected to increase 10% for employers and even more for employees by the end of 2010.Within just a few short years, such increases will be unsustainable for even the most financially sound employers.
You can't predict the future, but you can plan for it. We invite you to put yourself in Good Hands with Critical Illness insurance from Allstate Benefits.
Critical illness insurance is a source of funds you can use to help cover the indirect costs that arise when a
serious illness strikes. By providing money when you need it most, upon diagnosis of a serious illness (as
defined in the policy), critical illness insurance can help relieve worry about your finances so that you can focus
on getting well.
Critical illness insurance pays you a lump sum of money upon diagnosis of a covered condition. This money is
yours to use for any purpose, with no restrictions. For example, critical illness insurance proceeds can be used
to pay:
* Mortgage or rent payments, as well as any other bills you may have;
* Health insurance deductibles, coinsurance and/or co-payments;
* The costs of receiving out-of-network medical treatment, including possible travel and lodging expenses;
* Treatments not covered by traditional health insurance;
* Child care expenses during treatment or hospitalization;
* Modifications to your home or vehicle; and/or
* Shorter-term home health care.
Since the premiums paid for critical illness insurance are not tax deductible, the benefits are not considered as
income and are received 100% free of income tax.
Residents of NY, NJ and CT - contact: J. Sadler Hayes, II / 845-639-0492 / sadlerhayes@gmail.com
Receiving a cancer diagnosis can be one of life's most frightening events. Unfortunately, statistics show you probably know someone who has been int his situation.
Are you familiar with the high cost of cancer? Even if you have health insurance, deductibles and co-payments can run in the 10's of thousands of dollars.
1. This presentation for Critical Illness (CIBASE) and Critical Illness Plus (CIPLUS) should only be used in the following states: of 21 Arizona Arkansas District of Columbia Delaware Georgia Indiana Kansas Louisiana Maryland Michigan Mississippi Missouri North Carolina Ohio Oklahoma South Carolina Texas West Virginia Wisconsin
2. The Western and Southern Life Insurance Company Cincinnati, Ohio of 21 Policy series numbers 0907-80, 0907-80-U It’s all about Survival! FA-722-A 0806
3. Life Expectancy of 21 Sources: National Association for Critical Illness Insurance “ Health, United States, 2007”, pp 50, Centers for Disease Control & Prevention 75 80 46 48 Average Life Expectancy 1900 – 47 years old 2002 – 77 years old MALE FEMALE 1900 2002 MALE FEMALE Avg. Age of Critical Illness Claimants 43 years old Today, we are living 30+ years longer
4. The Longer A Person Lives… of 21 The greater the chance of being diagnosed with a critical illness “ Heart Disease and Stroke Statistics: 2008 Update,” American Heart Association
5.
6.
7. Many Survivors Experience… of 21 “ Financial Hardship” because of the indirect costs associated with their illness
18. of 21 Critical Illness Insurance Is….. Not about death, it’s about survival!
19.
20. of 21 How Much Do You Need? If diagnosed with a critical illness… You will likely need 12 to 18 months of your gross monthly income to meet the cost of your indirect expenses. Source: “Heart Disease and Stroke Statistics: 2008 Update,” American Heart Association
A critical illness, such as a heart attack, stroke or cancer, can be a hardship to most families. This kind of hardship is not so much by the actual illness, but by the indirect costs associated with it. My goal is to help you develop a plan to meet the needs of your family should a critical illness occur. This plan will help protect your quality of life and enable you to meet the costs that can occur with such an illness.
Medical advances have led to increased life expectancy. The average life expectancy in 1900 was 47 years. By 2002, it had increased to 77 years. And it continues to rise.
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The fact that Americans are living longer, along with the stress of modern life, has led to an increase in cancer, heart attacks and stroke.
In the past, these illnesses were often fatal. Today, however, an increasing number of people survive. We are living through the physical challenges of our illnesses. But, what about the financial challenges?
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Who do you know who has been diagnosed with cancer, had a heart attack or stroke? [ Probe for specific situations! This screen is vital because it connects the problems of critical illness to the prospect’s present situation. Help the prospect understand the possibility of a critical illness.]
Can you afford not to take action?
Survival has a price. Insurance is a way to pay for that price. Insurance is a way to control risk by sharing your risk with others. If you had a heart attack, cancer, or stroke and could not work, how would you pay your bills? your mortgage? [Talk about prospect’s current situation.]
Most people are shocked to see that 2/3 of the costs associated with cancer are indirect. Indirect costs including modifications to your home, alternative treatments and home health care needs, usually are not covered by your health insurance.
Let’s look at this list, how would each of these impact your family? [Spend time on each point.]
Western & Southern Life’s Critical Illness insurance policy will pay you 100% of the maximum benefit amount in a lump-sum upon the diagnosis of life threatening cancer, heart attack, stroke, end stage renal failure, and major organ transplant. I think now is a good time to note something important. We are not talking about health insurance here; Critical Illness insurance is a different animal so it’s important to know that you still need to have health insurance.
[Present the solution.] So you’ve indicated that you have a need. Western & Southern Life has a solution. Our Critical Illness plan can help you provide for the indirect expenses associated with an illness. This plan will help protect the quality of life and standard of living you’ve worked so hard to provide for yourself and your family.
Most people ask, “What if I never have a critical illness?” Western & Southern Life assures you that even if you do not experience a covered illness, 100 percent of premiums paid, minus any claims paid, will be paid to your beneficiary at time of death. [Note: ADB rider premiums are not included in this calculation.]
This is the real beauty of Critical Illness: it’s a “living benefit” that provides real choices. As a policyholder, you receive a lump sum benefit upon diagnosis. You can use your money for anything you choose -- even a once-in-a-lifetime vacation with loved ones. Actual alternatives available will depend on the amount of the benefit paid and the cost of the option.
[Continue to emphasize the choices and flexibility that Critical Illness insurance provides.]
Critical Illness insurance was not created by an insurance company, a sales person or a mathematician. It was created by a doctor who saw the need for it first hand. Dr. Marius Barnard who assisted his brother Dr. Christian Barnard in performing the first human heart transplant created the product in connection with an insurance company in South Africa (2008 Critical Illness Insurance Conference, LOMA). Dr. Barnard recognized that his patients were surviving their illnesses only to be destroyed financially. You are going to survive! You need the living benefit!
Critical Illness Insurance provides a missing piece of your financial plan. [Close the sale by reiterating the real value that Critical Illness insurance provides.] PLEASE READ THE FOLLOWING DISLCOSURE TO THE CLIENT THIS POLICY IS A LIMITED BENEFIT HEALTH POLICY. It contains limitations, exceptions, terms for keeping the policy in force, and may contain a reduction of benefits, depending on the policy purchased. Product availability, benefits provided, coverage, exclusions and limitations vary by state. Complete details of the coverage available in your state will be explained by your sales representative or is available upon request from the company.
Studies indicate you’ll need at least a year of income to cover the expenses of a Critical Illness. [This is where you help the prospect estimate the need. However, use the numbers the prospect feels comfortable with!]
[Now move to your illustrations software.] We can use the Benefit Amount to calculate the premium required, or we can start with Premium Amount to calculate the Benefit Amount that can be purchased. I will key in these variables and amounts will appear -- with and without the Accidental Death Benefit rider. The Accidental Death Benefit rider is optional and provides for payment of the benefit amount should you die accidentally. This rider may not be available in all states. I need to point out that there is a 50 percent benefit reduction at age 65 [ five years after issue for those issued at ages above 60] with the Critical Illness policy. If you want to maintain a level benefit amount throughout the life of the policy you should consider the Critical Illness Plus policy.