Home Certainty Policy Specs

Transcription

1 Home Certainty

2 Home Certainty Policy Specs Simplified issue / Non-Med Term Life Insurance 15, 20, 25 & 30 year term periods to choose from Premiums are guaranteed for the full term period Available with optional Return of Premium Rider Issued Standard through Table 4 (Accept/Reject ) Proof of Mortgage will be required Annually renewable to age 95 after the selected term period Convertible on or before the earlier of attained age 75 or when the level premium period ends

3 Home Certainty Policy Specs Issue Ages (age last birthday) Term Full Guarantee 15 Year 20 to Year 20 to Year 20 to Year 20 to 50 Minimum Policy Size - $25,000 Face Amount or $25 Base Monthly Premium (whichever is greater) Maximum Face Amount - $250,000

4 Home Certainty Policy Specs Premium Rate Classes: Unisex Preferred Tobacco pipe/cigar/chew/dip Standard Tobacco cigarette use Non-Tobacco Modal Factors monthly.088; quarterly.262; semiannual.519 Policy Fee - $80 (Fully Commissionable)

5 Home Certainty Available Riders Return of Premium Rider: After the term period, returns all of the following: Base Policy premium ROP Rider premium Policy Fee Modal Factor Beginning early as the 2nd policy year at least a portion of the premiums paid are available to be returned. The percentage of premiums that are returned increase each year until it reaches 100% at the end of the term period selected. Available on the 20, 25 & 30 Year plans only.

6 Home Certainty Available Riders Disability Income Rider: Pays a monthly benefit to the insured in the event the insured becomes totally disabled: Monthly Benefit is 2% of the Face Amount, not to exceed $1,500 (if annual income is below $25,000, the benefit cannot exceed $900 per month) The Benefit Period Runs for 2 Years 60 Day Elimination Period and the Benefits are not Retroactive Ineligible Occupations listed in Agent Guide Issue Ages: (rider terminates at age 65) Defined: Disability which keeps you from being able to perform the major duties of your regular occupation as a result of such injury or disease.

7 Home Certainty Available Riders Critical Illness Rider*: Provides a cash benefit to the insured upon the diagnosis of a covered critical illness: Available at 25%, 50% or 100% acceleration up to a maximum $100,000 critical illness benefit Requires disclosure for the Accelerated Living Benefit Rider (form no. 9543), Submit with App Covered Illnesses: - Heart Attack - Coronary Artery Bypass Graft (10% of DB) -Stroke -Invasive Cancer - Kidney Failure - Major Organ Transplant Surgery - Paralysis - Blindness - Terminal Illness - HIV contracted performing duties as professional healthcare worker Issue Ages: (rider expires at age 70) * Critical Illness not available on same policy if applying for Waiver of Premium

8 Home Certainty Available Riders Waiver of Premium*: Waives the payment of the entire policy premium (including riders) in the event of total and permanent disability. Issue Ages Coverage expires at age 60 Children s Insurance Agreement: Provides $3,000 per unit (max 5 units) on each child until age 25. Convertible up to 5 times the initial coverage without evidence. Issue ages: Children 15 Days 17 years Primary Insured: Coverage expires at Primary Insured s age 65 * WP not available on same policy if applying for Critical Illness Rider

9 Home Certainty Available Riders Accidental Death Benefit: An additional benefit paid to the beneficiary if the insured dies as the result of an accident. Available up to $200,000 or 5 times the face amount of the policy, whichever is less. Issue Ages: Benefit terminates at age 65 Level Term Insurance Rider (Spouse Only): Provides level term insurance for 20 years or to the Insured s age 70, whichever comes first. Spouse Issue Ages: Minimum Amount: $25,000 Maximum Amount: Not to exceed base policy

10 No Cost Benefits Included Terminal Illness Accelerated Benefit Rider: Can receive up to 100% of the death benefit when insured has a life expectancy of 12 months or less (24 months in some states. Requires disclosure form (9474). A Copy of Form is left with Applicant; No Signature Requirements. Accelerated Benefits Rider - Confined Care: Full Time, Permanent Residence in Nursing Home Fixed Monthly Pmt of 2.5% of face amount Requires disclosure form (9675). A Copy of Form is left with Applicant; No Signature Requirements.

11 App Completion/Submission Good Field Underwriting is essential to avoid unnecessary Underwriting delays Always Fully Complete All Required Sections and Questions Provide Complete Details to Yes answers on health questions. List any Medications currently taken and their associated conditions If additional space is needed for details regarding health questions or medications, please provide on a separate sheet of paper and submit with app Telephone Interview Completed at Point of Sale always answer Yes or No

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14 Non-Med Limits* Age & Amount 20 to to 65 25, , , ,000 T T = Telephone Interview * This chart applies to both the Primary Insured & Spouse (if applying for the Level Term Rider)

15 Home Certainty Underwriting Telephone Interviews: 1. Point of Sale Completed at Time of Application from Client s Home Call vendor using Toll Free Number Identify Yourself, Company, & Product Being Applied for Applicant Completes the Rest of the Interview on their own Indicate on Application that Interview has been completed Results of Interview Transmitted to Home Office electronically 2. If a Point of Sale Interview is not completed the Home Office will initiate an Interview

16 Home Certainty Underwriting Member Companies report conditions to MIB database during the underwriting process Our Company accesses the MIB database on all Home Certainty applications MIB replies can trigger additional underwriting requirements (i.e. APS s, Exams, etc.)

17 Home Certainty Underwriting Check of National Pharmacy Databases Databases are checked on every Home Certainty Application Provides information on medications / prescriptions taken by the Applicant May trigger additional underwriting requirements (i.e. APS s, Exams, etc.)

18 Home Certainty Summary Simplified Issue Term (No Medical Exam Required) Simple Yes/No Application (1 page) 15/20/25/30 Year Premium Plans Mortgage Required May be listed on the Mortgage or a Deed of Trust Only require there to be a mortgage, no limits on when it was taken or the remaining term Maximum Face Amount not tied to amount of mortgage remaining

19 Home Certainty Summary Premiums guaranteed for the full term period Attractive Optional Riders (available at an additional cost): - ROP - WP - Children s Insurance Agreement -DIR -ADB - CIR - LTR (Spouse Only) No Cost Benefits: Terminal Illness Accelerated Benefit Rider Accelerated Benefits Rider - Confined Care After Level Premium Period, Policy Can be Kept to Age 95 on an annually renewable basis Competitive Premiums