TOP 10: The La Capitale Advantage. Joe Tari, Director of Sales Brokerage Channel

Transcription

1 TOP 10: The La Capitale Advantage Joe Tari, Director of Sales Brokerage Channel

2 1. A solid Quebec mutual insurer

3 The Mutual at a glance u v $4.7 billion in assets 9th largest Insurance Company in Canada as reported by the National Post in June 2012 v 250% Growth In Submitted Business over 2013 v 234% Growth in Issued Premium over 2013 v On Pace to finish % of Sales

4 2. Compensation

5 WHO LIKES MORE COMPENSATION? New For Spring 2014! Effective April 1st! Competitive Term Rates!

6 Compensation TERM PRODUCTS FYC Fixed Term Fixed Term Fixed Term 25,30 & PROVIDER monthly income 15 years PROVIDER monthly income 20 years PROVIDER monthly income 25 years Life Time Renewals on 95% of all our products

7 Provider Monthly Payment Term Fixed and Decreasing Terms 15,20 and 25 Years Stand alone or Rider Competitive Rates and Excellent Compensation 45%,55% and 60% Monthly Benefit $500-$10,000 a month Multiple Uses: Mortgage Insurance Simplify Needs Analysis Beneficiary Concerns

8 Bonus for loyalty to La Capitale

9 Criteria: q Minimum annual production of $10,000 AFYC (Life, Critical Illness and La Capital's Long Term Care policy) q and 12 contracts issued * Now Includes Pillar Series Bonus for loyalty to La Capitale

10 Loyalty bonus Consecutive years Bonus % of 1st year commission 1 15% 2 20% 3 25% 4 or more 30% The bonus is payable in January of the following year.

11 Loyalty Bonus amounts $10,000 $15,000 $25,000 AFYC AFYC AFYC 1 $1,500 $2,250 $3,750 2 $2,000 $3,000 $5,000 3 $2,500 $3,750 $6,250 4 or more $3,000 $4,500 $7,500 Consecutive years

12 2014 La Capitale Conference RÌU Punta Cana Dominican Republic

13 La Capitale Convention Qualification How to Qualify.. $25,000 FYC La Capitale Products or LCFS Pillar or $25,000 Pillar Disability issued premiums Definition of FYC First-year commissions on La Capitale Life and Health = 100% FYC First-year commissions on La Capitale investment products = 50% FYC First-year Pillar Suite commissions = 75% Premium

14 3. Credit/Mortgage insurance concept

15 Credit/Mortgage insurance concept Life Insurance (Term or permanent) + Disability Income Benefit rider

16 Calculation of eligible amount üfor loans = monthly reimbursement (principal, interest and taxes) üfor a line of credit = 1% of balance used + taxes

17 Features No integration or coordination Valid to age 65 Issuance to age 60 (New as April 1st) Home Maker/Student Benefit Reimbursement of premium in the event of involuntary loss of employment Guaranteed benefit!

18 At the time of a claim No proof of loan required No proof of income required Guaranteed benefit period Fully guaranteed monthly benefit amount

19 Critical Illness rider 25 illnesses and surgeries included Available in T20,T25,30 and 35

20 25 illnesses and surgeries (benchmark definitions) Stroke Parkinson s disease Cancer (life-threatening) Paralysis Blindness Multiple sclerosis Coronary surgery Deafness Coma Loss of speech Heart attack (myocardial infarction) Severe burns Major organ transplant Loss of limbs Motor neuron disease Benign brain tumor Waiting for a transplant of a major organ Occupational HIV infection Aortic surgery Kidney failure Heart valve replacement Alzheimer s disease Aplastic anemia Bacterial meningitis Loss of autonomy

21 Critical Illness rider 25 illnesses and surgeries included Extended version of Best Doctors Economical! Female age 35, covered to age 70? $18.25/month!

22 4. Our riders

23 Fixed Term Life Insurance rider Get the best band rate!

24 Credit insurance concept Example: M NS 35 and F NS 35 $175,000 mortgage with a monthly payment of $900 Credit insurance concept If integrated with a permanent plan $175,000 joint T20 + $900 DIB for each insured $74.68 $175,000 T20 rider (based on the $1M band) + DIB of $900 for each insured $ cost of the permanent plan A savings of $8.64!

25 5. Critical Illness

26 4 types of critical illness u Rider (Term 20,25,30 and 35) u Simplified (Easy, Affordable, 94% of Claims covered, Concept RRSP Protection) 3 Plans/3 Face Amounts Great Comp! T75 55% 30-40% Discount over Enhanced CI 6 Covered Illnesses u Enhanced T75 u Children u Only Company in Canada to Offer Loan against ROP

27 SIMPLIFIED CRITICAL ILLNESS Simple and Easy ü Increase CI Sales ü Avoid Underwriting-APS, No Post Underwriting ü 5 Easy Questions ü Easy Application, No Illustration Required ü 3 Simple Plans/Face Amounts, 6 Benchmark Illnesses ü 94% Claims Experience covered ü Very Competitive and Affordable (40-50% Less Expensive) ü Free Critical Illness

28 QUESTIONS

29 CHILDRENS CRITICAL ILLNESS

30 At a glance T75 Issue age: 30 days to 17 years 27 covered illnesses or surgeries Second Chance for Children

31 Health Option

32 Health Option Year Reimbursement percentage 15 75% 16 80% 17 85% 18 90% 19 95% % 100% as of the 20th policy anniversary!

33 Commissions Second Chance for Children Year 1 Year 2 to 5 Year 6 to 10 Year 11 and + 55% 4% 2% 2%

34 6. Long Term Care Insurance

35 Definition v Payment of a monthly benefit during a period of dependency: u Unable to perform at least 2 of the activities of daily living: u Bathing Dressing Toileting Transferring Continence Feeding Or, when the insured suffers a cognitive impairment (impairment of intellectual functions manifested by an inability to think, perceive, reason, or remember): Alzheimer s disease Another form of irreversible senile dementia

36 Options Long Term Care Insurance Indexation of benefits Reimbursement of premiums on death Issue Ages ,3,5 or Life Time Benefit-No Cap

37 Commissions Renewals Long Term Care 1st year 2 to 5 6 to 10 Year % 5% 3% 2%

38 Critical Illness Vs. LTC Much More for Less $100K T100 CI $ Per Month $2,000 a month LT LTC Benefit with ROPD and Indexation $183 Per Month At Age 65 LTC Worth $31,667 Annual for Life

39 7. Simplified Advantage

40 At a glance Simplified Permanent Life Insurance Ages 40 to 80 No medical exam (+MIB)

41 Simplified Advantage - Insured Amount Fixed and guaranteed $5,000 Double benefits in the event of accidental death to $100,000 (max. $50,000 for people age 71 to 80) before age 85 (included)

42 Simplified Advantage Ø Permanent life insurance guaranteed level premium Ø No medical exam, no APS, no fluids or needles Ø Guaranteed cash values Ø Maximum Face Amount $100,000 Ø NO PREMIUM MODAL FACTOR (Annual Prem / 12) Ø ACTUAL AGE CALCULATION Ø Issued with limited proof of insurability (7 Questions)

43 Underwriting Issues Some conditions that make it hard for people to get insurance: v v v v v Height and weight Diabetes DUI / Driving record Drug or alcohol abuse Foreign Travel v v v v v Depression / Anxiety MS / Parkinson High blood pressure High cholesterol Family health history Do you know anyone affected by one or more of these issues? A simplified issue life insurance like Simp Advantage could be the solution for them.

44 8. Investment Accounts

45 Investment Accounts Segregated? Mutual?

46 Features and benefits Life and Health Insurance licence Mutual Fund Management fees-no Charge Guarantee Compliance Guarantees 100% of contributions made up to age 75 Designation of beneficiary One entity, several investment firms- 32 Investment Options Meritage funds Commissions

47 Nov 20th in Quebec City Savings Event Million dollar club! Nov 20th- Visit La Capitale H.O Tour QC Dinner and Poker Tournament Contest Jan 1st 2014 to Oct 31st 2014 * Only $1,000,000 in deposits or transfers

48 9.Permanent Products Life Saver (Universal Life)

49 Features v Level cost Universal Life v Death benefit: insurance + savings v ,P65 year guaranteed payment option (Guarantee CSV Starting 6th year) v Joint plans available (first two deaths) v Paid Up on First Death Option v Ages 0 to 80 v Minimum insured amount: $10,000

50 Features v v Investment options: Guaranteed accounts (3, 5 or 10 years) Indexed interest rate accounts: Meritage Potfolio s Guaranteed investment bonuses: 0.5% for years 6 to % for year 11 and onward v No surrender Charge v 100% Death Benefit Guarantee on Extra Deposits-No Age Restrictions

51 10. Pillar Series

52 Pillar Series Features v Two choices of coverage: Accident only Accident & sickness (rider) v Issue ages v Guaranteed renewable to age 65 v Monthly benefits from $500 to $4,000

53 Total loss of autonomy (included) If the client's condition meets the definition of total loss of autonomy prior to age 60, THE MONTHLY BENEFITS ARE PAID FOR HIS OR HER LIFE, regardless of the benefit period selected. The Waiver of Premium benefit applies immediately. Total loss of autonomy: Permanent inability to perform any gainful occupation and being in a state of dependency, (i.e. inability to perform the six activities of daily living without the assistance of another person).

54 Return of premiums (rider) v Age at issue: v At age 65, we reimburse a % of premiums paid depending on the issue age less 2 times the benefit amounts paid. Ages 18 40: 100% Ages 41 45: 75% Ages 46 50: 50% v Partial return of premium available at age 60 with a reduction of 0.5% per month in advance.

55 Exceptions and limitations No limits or exclusions Nervous condition Soft tissue and back trouble

56 Integration and coordination No integration No coordination Full amount 6 MONTHS Partial integration and coordination $1,200 guaranteed 7 to 36 months Full integration and coordination 36 months +

57 Financial proof Proof of income upon application Monthly benefit Employee Self-employed $0 $3,000 No proof required* No proof required* $3,001 + No proof required* Proof of income for 2 years ***Guaranteed benefit:*** Insureds can guarantee the amount of their benefits by qualifying at the time of underwriting. To apply for the benefit: proof of income for the last 2 years.

58 Compensation Level commission Product 1st year Pillar Series 50% 17.5% 15% Product 1st year Pillar Series 100% 3.5% 2.5% High-low commission

59 New Indexation Option Guaranteed Insurability Option Already Here: Loyalty Bonus Included!

60 THANK YOU!