1 Cancer and Heart Attack or Stroke InsuranceQuality health plans & benefits Healthier living Financial well-being Intelligent solutions Cancer and Heart Attack or Stroke Insurance Underwritten by Continental Life Insurance Company of Brentwood, Tennessee (CLI)
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3 Aetna Value Wheel Visit the Aetna story at wwww.aetnastory.com
4 CLI* laid the foundation on which the Aetna Senior Supplemental Insurance business has been builtRated A (Excellent) by A. M. Best Company** Has more than 30 years of experience specializing in the senior market Focus on being a distributor-preferred company Small company personality with BIG company capability Diverse product portfolio that consumers know and trust Commitment to providing the best plan of protection possible at an affordable premium Unsurpassed customer service * Continental Life Insurance Company of Brentwood, Tennessee (CLI), an Aetna Company ** As of June 13, 2013.
5 Aetna Senior Supplemental Insurance products include:Individual Medicare Supplement (ACI, CLI and AHLIC) Final Expense whole life (ACI and CLI) Complementary products (CLI) Cancer and Heart Attack or Stroke (CLI) Continental Care (hospital indemnity) Nursing Facility Care (short term) Home Care (short term) Cancer Plus (first occurrence cancer) *Headquartered in Franklin, Tennessee, Aetna Senior Supplemental Insurance products are underwritten by American Continental Insurance Company (ACI) , Continental Life Insurance Company of Brentwood, Tennessee (CLI) and Aetna Health and Life Insurance Company (AHLIC), all Aetna companies.
6 Cancer - is the second most common cause of deathCancer - is the second most common cause of death. About 77% of all cancers are diagnosed in persons 55 or older Heart Attack - is the number one cause of death for both men and women in the United States Stroke – is the third leading cause of death in women, the fifth leading in men and among the top 10 in children. Cancer & Heart Attack are each responsible for 1 of 4 deaths in the United States. Sources can be found in the appendix For Agent Use Only. Aetna Inc. Proprietary and Confidential.
7 Survival rates are increasingAbout 66% of people diagnosed with cancer survive 5 or more years after being diagnosed with cancer Cancer death rates have DECREASED an average of 1.5% each year between Sources can be found in the appendix For Agent Use Only. Aetna Inc. Proprietary and Confidential.
8 3 in 5 bankruptcies are due to medical bills and 20% of all adults in the U.S. struggle to pay their medical bills Plus, nearly 61% of all cancer treatment costs are indirect (non-medical) expenses Deductibles/co-payments Loss of income for both patients and caregivers Transportation and hotel during treatment Mortgage, rent, utilities, car payments & groceries Medical supplies, prescription drugs, anti-nausea medication, etc. Sources can be found in the appendix
9 How will the bills be paid if diagnosed with one of these illnesses?Problem: Treatment is expensive. Mortgage, utilities, health insurance, etc. have to be paid. Solution: CLI’s Cancer and Heart Attack or Stroke insurance can help manage expenses so savings can be preserved. A financial security solution for peace of mind protection. Sources can be found in the appendix
10 Plan Highlights Cash benefits payable on diagnosis of a covered illness Simplified application Benefits paid directly to the policyholder UNLESS he/she assigns them to a health care provider Coverage for individuals, single parents, or families Family members receive the same benefits as the primary insured Very competitive premiums! Approximately $1.00 per day for a family plan - sometimes less! Guaranteed renewable Portable coverage – coverage continues if the policyholder moves, changes jobs, or retires, as long as premiums continue to be paid on time 10
11 Coverage continuation provisionsBenefits are payable for each insured. Once paid to a covered individual, coverage for that benefit terminates for that insured; however: coverage for other illnesses (that is, cancer, heart attack or stroke) continue, AND full coverage for other insured individuals remain in force. Once benefits for all covered individuals are paid, the policy terminates. 11
12 Sales materials that are informative and easy to readExplain both the risks and the policy benefits Sales kits that include everything you need to make the sale Field Guide Provides new business guidelines to help agents Sales materials can vary by state – use order materials based on the state(s) where you plan to market the product. 12
13 Product not available in all states Policy based on applicant’s state of residence WA ME MT ND MN VT NH OR WI MA ID NY SD MI CT NV CA WY RI PA NJ IA NE HO IN MD DE IL UT WV DC CO VA KS MO KY GA NC TN AZ OK NM AR SC GA Product available MS AL MD LA TX Product pending FL Product re-launch pending *As of 5/20/2014
14 Cancer and Heart Attack or Stroke Choice of base plans Cancer Cancer and Heart Attack or Stroke Lump sum cash benefit paid directly to the policyholder to use any way they choose Protection from $5,000 to $75,000 (sold in increments of $5,000)* *In most states
15 The base plans contain a 30-day waiting period Hospitalization (or any medical care) is NOT required for benefits to be payable Lump sum benefits are the same for each illness covered in the base plan Benefit payable once for either Heart Attack or Stroke but NOT for both. (When this benefit is chosen.) The base plans contain a 30-day waiting period Optional Intensive Care rider * Not all coverage options are available in all states
16 Benefit amounts available in $150 increments, up to 4 (Max. $600/day) Pays a fixed benefit amount per day for confinement in a hospital intensive care unit (regardless of the illness or accident) Benefit amounts available in $150 increments, up to 4 (Max. $600/day) Maximum of 30 days* per period of care Period of care begins the first day of confinement in an ICU and ends when one has not required hospitalization for a period of 60 consecutive days Benefit reduces by 50% at age 65 * Varies by state
17 Refer to the Outline of Coverage for all exclusionsSkin cancer other than malignant melanoma Premalignant conditions or conditions with malignant potential Transient Ischemic Attack (TIA) Brain damage due to accident or injury or infection Disease or injury involving the cardiovascular system other than a Heart Attack A cardiac arrest not caused by a Heart Attack * Varies by state
18 Outline of Coverage must be provided at point of sale.In addition, for applicants age 65>, the Guide to Health Insurance for People with Medicare and the Medicare disclosure must be provided at point of sale. Make sure you use the forms and brochures provided in the sales kit. This policy is meant to supplement existing health insurance and is not a substitute for it. It is a violation of federal and state law for an agent to sell this policy to someone who doesn’t have basic health insurance coverage. This policy does not coordinate benefits with other health insurance. This policy provides a fixed payment without regard to the cost of medical services provided. This policy is not intended to satisfy the requirement of minimum essential benefits under the federal Patient Protection and Affordable Care Act.
19 Issue ages: 18-89 (primary insured)Individual Individual and spouse/domestic partner Individual and child(ren) Family There is no limit on the number of children covered Unmarried children (ages 25 and younger) and financially dependent on the insured may qualify; state laws vary, see Outline of Coverage for state specific eligibility. Same benefit amount for each covered individual One benefit payable to each person insured under the policy Children (age ) and divorced spouses can convert to an individual policy without underwriting
20 Sample Individual and Family RatesRates and benefit options may vary by state. Rates for optional Intensive Care Rider not included. Product not available in all states.
21 Policy Issue and Premium DraftsThe effective date of the policy will be policy issue date (unless it is a policy conversion). The issued policy is sent to the policyholder* and the agent receives notification (by mail) of the issued policy. ID card is NOT included with the policy but one may be requested by the policyholder by calling Policyholder Services. Initial premiums draft on policy issue – subsequent premiums will draft on the next premium due date UNLESS the policyholder requests a new draft date on the application. *Agent can request policy delivery to the agent on the application form. In PA, policy must be sent to the policyholder.
22 Review the agent checklist – included in the sales kit. Make sure all required forms are complete, legible, and properly signed. Include the initial premium – with check made payable to either “CLI” or “Continental Life Insurance Company of Brentwood, Tennessee” Fax (if paying monthly by EFT) or mail to the appropriate address A fax cover sheet and a new business reply envelope are included in the sales kit
23 IMPORTANT You need home office approval to sell before you take an application. Existing CLI agents should indicate the state(s) where you plan to sell in Section 4 of the Producer Information Form (PIF). Only use approved marketing materials based on the policy issue state. Sales kits vary by state. No agent certification or tests are required. Agents need to be properly (health) licensed AND appointed with the appropriate underwriting company (CLI) in the state(s) where they wish to market the product.
24 Commissions paid for the life of the policyThe commission amount paid is a percentage of the policy’s paid premium as calculated at the time of the initial sale Company’s policy replacement rules will apply on internal policy replacement or exchange Commission payments are processed based on receipt of the policyholder’s mode of premium payment Commissions can be paid by Electronic Funds Transfer (EFT) Commission issued weekly (new business cutoff is the close of business on Saturday) Company holidays can vary new business cutoff period Commission rates vary by state, by policy year, and for policies issued to individuals between ages 85 to 89 Commission advancing available with home office approval
25 Products and Incentives
26 Final Expense (whole life)Medicare Supplement Final Expense (whole life) * Not all products available in all states. Underwritten by Aetna Health and Life Insurance Company, American Continental Insurance Company, Continental Life Insurance Company of Brentwood, Tennessee, all Aetna Companies.
27 Continental Care (Hospital Indemnity) Short Term Home Care Short Term Nursing Facility Care Cancer Plus Not all products available in all states. The Cancer Plus product will no longer be sold in those states where the new CHAS product is approved. Underwritten by Continental Life Insurance Company Of Brentwood, Tennessee.
28 Qualification Period: April 1, 2014 – March 31, 2015Destination: Costa Rica, Early Summer 2015 For full details, contact Agent Services or visit aetnaseniorproducts.com
29 Sales Support
30 A dedicated Agent Services team: 800 264A dedicated Agent Services team: option 3, 1 Knowledgeable Regional Vice Presidents located within 5 geographic areas: Northeast: Greg Etchison Southeast: Johnny Matos Midwest: George Pelekanos Northwest: Tony Clark Southwest: Frank Bell Our subject matter experts are available to answer your questions regarding: License and appointment Product training and support New business Underwriting Commissions Policyholder services Claims
31 aetnaseniorproducts.com Producer dashboard Commission statementsProduction, new business reports, etc. Commission statements Product availability & supplies Home office directory Training Webinar schedule and enrollment Archived News Bulletins E-Bulletins are sent each Monday Sales incentives Track your progress
32 Resources 2009, 2010, 2013 Cancer Facts & Figures, American Cancer Society (www.cancer.org) What are Medical Costs?, 3/1/13, R. Morgan Griffin (www.webmd.com) Heart Disease Facts, the Heart Foundation,(www.theheartfoundation.org The Centers for Disease Control and Prevention (www.cdc.gov) Survival Statistics, SEEP Stat Fact Sheet, National Cancer Institute, May 2014, NerdWallet Health HealthLeaders Media, Cancer Costs May Rise 27% by 2020, John Commins, HealthLeaders Media January 2011 Cancer Trends Progress Report, National Cancer Institute, January 2011 Pediatric Cancer Research Foundation Annual Report 2012, Understanding the Costs Related to Care, March 28, 2012,
33 Thank you