Product Review. An Agent Guide to United American Supplemental Health & Life Products REV. 0711

Transcription

1 Product Review An Agent Guide to United American Supplemental Health & Life Products REV. 0711

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3 Medicare Supplement Protection When you sell United American Medicare Supplements, you are selling the best. Read what these General Agents have to say about UA. Quality and convenience are important to Seniors, and with United American, they get both! Recently, I received a call from the oncology department at the Mayo Clinic thanking me for the way UA pays its claims. United American really delivers for its Seniors. Phil Ortez, Arizona Of all the companies I write, United American is the only company I ve represented for more than 25 years. It s UA or no way for me. Michael Lemar, Florida For a Group proposal, contact Special Markets at

4 Medicare Supplement Insurance PLANS / BENEFITS A B C D F G K L N Basic Benefits Hospitalization (Part A Coinsurance) Medical Expenses (Part B Coinsurance) 100% 100% 100% 100% 100% 100% 50% 75% Copay Blood 50% 75% Hospice 50% 75% Skilled Nursing Facility Coinsurance 50% 75% Part A Deductible 50% 75% Part B Deductible Excess Doctor Charges Foreign Travel Emergency 100% 100% Out-of-Pocket Annual Limit $4,640 $2,320 Plan F also has an option called a high deductible Plan F. This high deductible plan pays the same benefits as Plan F after one has paid a calendar year deductible. Benefits from high deductible Plan F begin after out of pocket expenses exceed the calendar year deductible ($2,000 in 2011). Out of pocket expenses for this deductible are expenses that are ordinarily paid by the policy. These expenses include the Medicare deductibles for Part A and Part B, but do not include the separate foreign travel emergency deductible. Plans K and L provide for different out-of-pocket cost-sharing (50% for Plan K, 25% for Plan L). Once you reach the annual limit ($4,640 for Plan K, $2,320 for Plan L), the plan pays 100% of the Medicare copayments, coinsurance, and deductibles for the rest of the calendar year. The out of pocket annual limit does NOT include the charges from your provider that exceed Medicare-approved amounts, called excess charges. You will be responsible for paying excess charges. The out of pocket annual limit may increase each year for inflation. Plan N pays 100% of Medical Expenses (Part B coinsurance) except for a copayment of up to $20 for an office visit and up to $50 for an emergency room visit. The emergency room copayment is waived if the insured is admitted to any hospital, and the emergency visit is covered as a Medicare Part A expense. Some states require designated Medicare Supplement plans also be available to people under age 65 and eligible for Medicare due to disability (different application forms may be required). Policy benefits are identical for people over or under age 65. Premiums are based on preferred or standard, age, sex, state/area. 2

5 Indemnity Health/Ancillary Plans United American offers indemnity health and ancillary insurance products to meet the needs of your customers. These policies are not major medical insurance and are not designed to replace major medical coverage. Benefits are limited and scheduled. UA policies may be a good choice to supplement existing coverage when the customer already has a primary major medical policy. They can also be used to provide some protection for customers who have no other coverage. Plan availability and benefits vary by state. Policies pay in addition to any other coverage the insured has Policies are portable if the customer moves or changes jobs Policies are guaranteed renewable and cannot be canceled as long as premiums are paid on time Foundation Signature Series (MMGAP) Limited benefit hospital expense policy (applicant must have existing or pending group major medical policy). Issue ages 0-63 Calendar year maximum benefit amounts up to $10,000 Helps cover major medical deductibles, copayments, and coinsurance associated with hospital inpatient treatment Optional rider for additional premium: hospital outpatient expense 3

6 HMXC Limited benefit escalating hospital indemnity policy Issue ages 0-63 Choice of initial daily hospital indemnity benefit amount Daily benefits double after 60 days, redouble after 120 days of each confinement No limit to number of hospital confinement periods HealthGuard (CILS) Cash benefit critical illness policy Issue ages Pays a one-time lump sum benefit up to $50,000 upon written proof of first diagnosis Covered illnesses include heart attack, stroke, total loss of eyesight, total loss of hearing, end stage renal failure, major organ transplant First Diagnosis Cash Benefit Cancer (CANLS2) One time cash benefit cancer policy Issue ages 0-69 Pays a one-time lump sum benefit up to $50,000 upon written proof of first diagnosis of cancer Benefit not contingent upon treatment can be used for anything 4

7 CAXC-CIXC Cancer expense coverage Issue ages 0-63 Daily hospital benefit Covered illnesses include cancer, malignant growths, leukemia, and Hodgkin s disease Additional benefits for intensive care Accident Compensation Plan (UA-250) Cash benefit accident policy Issue ages 0-63 Choice of either lump sum accident payment up to $10,000 or hospital cash benefit Accidental death benefit (pays instead of all other benefits) 5

8 Life Insurance Protection Fundamental Life Series I & II Term and whole life insurance policies with face amounts from $1,000 to $500,000 Issue ages vary based on policy form, gender, and tobacco or nontobacco use Optional riders available for additional premium: disability waiver of premium, child term life, accidental death, deposit fund (RT10 only) Term Life Insurance 10-Year Renewable Term (RT10/RT10GD) Term lasts for 10 years Premiums stay the same throughout the term Policy is automatically renewed at the end of the term for another 10 years Premiums are then subject to change for the new term 10-Year Renewable Term to 95 (UL10-20) Term lasts for 10 years Premiums stay the same throughout the term Term periods expiring before age 61 will renew for another 10 years Term periods expiring on or after age 61 will renew on an annual basis, premiums are then subject to change annually 10-Year Term to Annual Renewable Term (UL10-20) Term lasts for 10 years Premiums stay the same throughout the 10-year term Policy can be renewed on an annual basis at the end of the term Premiums are then subject to change annually 20-Year Term to Annual Renewable Term (UL10-20) Term lasts for 20 years Premiums stay the same throughout the term Policy can be renewed on an annual basis at the end of the term Premiums are then subject to change annually 6

9 Whole Life Insurance Whole Life (SWL/SWLGD) Coverage lasts for the life of the individual Premiums stay the same for the life of the policy Accumulates cash value 21-Pay Increasing Benefit Whole Life (URL-CBP) Coverage lasts for the life of the individual Coverage increases during the first 21 years Premiums stay the same for 21 years, then policy is paid in full Accumulates cash value Annuities Lifestyle Annuity (USPDA02) Single premium deferred investment Reserve Fund Annuity (USFMS) Flexible premium deferred annuity Issue ages 0-80 $5,000 to $20,000 deposit amounts (per annuitant, per year) $10,000 maximum deposit per year per annuitant over all UA annuities Annual interest rate guaranteed never to fall below 3% Payout options: Fixed Amount (specific monthly payments), Fixed Period (monthly payments for a specific period), or Life Income For ProCare Med-Supp plans A, B, D, G, HDF, K, or L policyholders age (65-86 in OK) Guaranteed 3% minimum interest rate Funds can help pay for calendar year Part A and B deductibles and Part B excess charges Funds may be deposited in a lump sum and/or through monthly deposits made with premium payments 7

10 The Company Behind the Coverage Since 1947, hundreds of thousands of Americans of all ages have relied upon United American for life and supplemental health insurance protection. The secret to our success, stability, and longevity is the Company s commitment to quality and service. Every decision is made based on what is best for the customer, the Agents, and the shareholders. For more than 30 consecutive years, United American has earned the A+ (Superior) Financial Strength Rating from A.M. Best Company (as of 6/11). We are also rated AA- Very Strong for Financial Strength by Standard & Poor s (as of 5/10). 5

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12 3700 South Stonebridge Drive McKinney, TX Not filed as advertising. Not intended to be used with clients. UAI