AGENT GUIDE: CHILDREN S WHOLE LIFE INSURANCE

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1 AGENT GUIDE: CHILDREN S WHOLE LIFE INSURANCE Get Your Kids off to a Good Insurance Start with Children s Whole Life Insurance Ages 14 days 25 years Face Amounts $5,000 $30,000 Builds Cash Value & Benefits Never Decrease Underwriting No Medical Exam Only two health questions on the application Guaranteed Insurability Rider Application Submission by Grandparents without the parent signature on the application (excluding PA and FL) Not available in New York Why Buy Life Insurance for Children? There are Several Important Reasons: The most basic reason is to cover costs associated with an unexpected loss One of the most important reasons is to help protect a child s future insurability Children s Whole Life Insurance from United of Omaha is simplified coverage that s easy to apply for Check These Features: Available for ages 14 days to 25 years Available in face amounts of $5,000 to $30,000 Additional policies may be purchased in the future without evidence of insurability. Level premiums for the life of the policy (policy matures at age 100)* Simplified application No medical underwriting and limited health questions Builds cash value Benefits never decrease Easy payment options *Maturity age may vary by state.

2 See How Affordable Children s Whole Life Insurance Can Be Children s Whole Life Annual Premiums (per $1,000). Rates are Unisex. Age 0 6 $3.24 Age 7 12 $5.04 Age $6.84 Age $8.64 Calculation Steps Number of thousands of face amount Annual Premium per thousand (from the rate chart provided above) $ Number of thousands X premium per thousand $ Add annual policy fee $12.00 (Fully Commissionable). Total annual premium equals $ Modal Factors Bank Service Plan.0833 Semiannual.50 Quarterly.25 Modal Premium Bank Draft.833 To determine model premium, multiply total annual premium by the modal factor. For example, if the total annual premium, including the $12 policy fee is $40, then the quarterly premium is $10 (40 X.25). There is no minimum premium by mode.

3 Ongoing Policy Benefits Coverage that can increase as the need for life insurance increases Life insurance protection is something we all need, regardless of our age or stage in life Setting up a lifetime of coverage for your children and grandchildren may be one of the most important things you ll ever do for them. In addition to the death benefit, one of the advantages of purchasing life insurance at an early age is that it can help protect future insurability Children s Whole Life is affordable and easy to apply for life insurance protection, with the following features: o Available for ages 14 days to 25 years, in face amounts of $5,000 to $30,000 o Whole life policy matures at age 100 o Limited health questions to answer o No medical examination required o Rates never increase with age o Benefits never decrease o Cash value that builds over time o Loans available from cash value o Guaranteed Insurability Provision, additional coverage may be purchased in the future without evidence of insurability* o Easy payment options *While the policy is in force, you have the option of purchasing an additional whole life policy on the insured on each of several dates, without evidence of insurability. The dates are the policy anniversary dates following the insured s 30th, 33rd, 36th and 39th birthdays. If you do not exercise the first option date, you will not be eligible for any future options. Not available in all states. Policy Exclusions The policy s face amount will not be paid if the Insured s death results from suicide, while sane or insane, within two years from the issue date (in CO, MO and ND, within one year). Instead, the policy premiums paid will be returned, minus any loan not repaid. In MO, benefits will be paid for all causes of death unless evidence shows that suicide was intended at the time of purchase.

4 Submitting Applications Application can be submitted to United of Omaha by fax or mail. The fax number is: (402) The mail address is: United of Omaha Attention: New Business 9330 State Highway 133 Blair, NE Product Availability The Children s Whole Life Policy is not available in New York or the State of Washington. Illustrations Illustrations are not required. However, illustrations are available on Winflex under the whole life portfolio. Contracting For agent contracting, call:

5 Marketing Pieces There are many marketing pieces and they can be found on the Home Office website. For those using direct mail with reply cards, United of Omaha will imprint marketing pieces without charge in orders of 500 pieces or less They will print additional pieces with sufficient production. Larger orders require Home Office approval If the agent supplies the Home Office with a mail list, the Home Office will even mail the pieces and bill the agent for the postage. o The mail piece is LRC5477_1210 entitled Get your kids off to a good start with Children s Whole Life Insurance Speaking of Marketing Childrens Whole Life insurance can open some doors to more and larger sales. The parents and grandparents that buy Children s Whole Life insurance, also purchase annuities, health insurance and life insurance for their family and their business. Remember too, that today s children are tomorrow s adult customers, people who will have their own family and business insurance needs. There are several carrier designed marketing pieces designed to promote business. One is form LC7763 entitled Get your kids off to a good start with Children s Whole Life Insurance It explains coverages and provides the client or you an easy way to calculate premiums It could be included in a letter to an existing client or a prospect. Those who have an interest will know what they are buying and what the cost will be before you make the follow up contact a nice way to make a sale to an existing client or obtain a new a new client On top of that, people with kids in school know other parents who have children. Referred leads are the best type of leads are they not?

6 The Application Please contact Sales Support ( ) for your state s version of the application. See next 2 pages for sample application. Policy form number A007LNA05P or state equivalent. In LA, A255LLA05P; In NC, A098LNC05P; In OK, A133LOK05P; In OR, A140LOR05P; In PA, A007LNA05P; In TX, A151LTX05P; In WA, A169LWA05P. Life insurance underwritten by United of Omaha Life Insurance Company, Mutual of Omaha Plaza, Omaha, NE This policy may contain exclusions or limitations.

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