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Introducing. Twice as Simple to Sell. S2-6046 For Agent Use Only. The New LTC Market 79 Million, Educated, Planning for Retirement Desire to be Independent Cash for Lifestyle Assurance should “Life Change on a Dime”. The Simplicity Concept. Target: Baby Boomers.

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Presentation Transcript
slide1

Introducing

Twice as Simple to Sell

S2-6046 For Agent Use Only

target baby boomers
The New LTC Market

79 Million, Educated, Planning for Retirement

Desire to be Independent

Cash for Lifestyle Assurance should “Life Change on a Dime”

The Simplicity Concept

Target: Baby Boomers
why cash
Provides Maximum Flexibility for Funding Care

“Care Choice” not “Managed Care”

Best Option for the Future

Pre-Paid Monthly Cash Benefit

No Proof of Service or Receipts!

Simply Ask For a Check!

The Simplicity Concept

Why Cash?
slide4
“All Wheel Drive” for the changing terrain of LTC – Guaranteed Benefits

Covers New Treatments, Technology for Prolonging Independence

The Simplicity Concept

Why Cash?

slide5

Simplicity Stands Tall among the Competition

Highest Rated Product91

  • Prudential Cash 78
  • Allianz Generation Protector 65
  • MetLife Ideal 2 73
  • John Hancock Leading Edge 59
  • Custom Care Two 66
why simplicity ii
True Consumer Value

Enables a Simpler Sales Process

Bring back “Lost” Producers

Attract “New” Producers/Entities

Quality & Value

Why Simplicityii
why simplicity ii1
True Consumer Value

Cash = Maximum Flexibility

100% Benefits Paid – Guaranteed!!

CareDirections Family Advice & Advocacy Programsm

Sell Value

Why Simplicityii
here comes simplicity ii

When: First Introduction Date : April 2, 2007

AK, AL, CO, CT, IA, ID, MI, ND, OK, SC, SD, WY and DC/DC TRUST  NJ

Second Introduction Date: May 1, 2007

AZ, GA, IN, KY, LA, ME, NE, NH, NM, NY,OH, PA

Third Introduction Date: June 1, 2007

AR, DE, IL, KS, NV, VA, WI, WV

Simplicity cease sale 60 days after Simplicityii roll-out

Here Comes Simplicityii
slide10

The New Simplicity

Cash Benefit Account

  • Cash Benefit Account (face amount). $100,000, $200,000, $300,000, $500,000 & $1 million.
  • Easy to Explain
  • Builds with Inflation Option
  • No Durations, No Complicated Formula!
monthly cash benefit
The amount that will be paid in a single month.

Pre-Paid, no proof required

Specific Monthly Cash Benefit options for each Cash Benefit Account chosen at the time of application.

Use for HHC or FC

“Rightsized” based on industry experience

What the Customer Wants

Monthly Cash Benefit
slide13

“Buying LTC insurance isn’t as complicated and mind-boggling as I thought! It’s so easy to make a decision and know what coverage I’ll have! My premium represents good value.”

slide14

The Simplicity Improvements

Simplicity

Simplicityii

Duration

Cash Benefit Account

$100K, 200K, 300K, 500K, 1M

2, 3, 4, 5, 7, L

Payment

Lifetime

10 Pay

Pd up @ 65

Reduced @ 65

Reduced @ 70

Lifetime

10 Pay

Pd up @ 65

HHC Options

Home Health Care Benefit plus optional enhanced Facility Care

60%, 80%,100%

MMB

$12K Community or Facility

$12K Monthly Cash Benefit (HC/FC)$16K Enhanced Facility Benefit

Inflation

None

5% Simple

5% Compound - 2X Max

5% Compound - No Max

None

5% Simple

5% Compound - 2X Max

5% Compound - No Max

3% Compound - No Max

slide15

The Simplicity Improvements

Simplicity

Simplicityii

Value Added Programs

~ Care Scout

~ Script Save

Not Included

Included

Exclusions

None

Act of war

Subrogation Clause

Not Included

Included

Available to age 71 for $100K and $200K plans

Simplified Application

Not Available

APS & FTF Required

> age 75

> age 72

Discounts

Cap

No Cap

Rate Classes

3

2

Actively at work Spouses have “Simplified Underwriting”

Employer Program

Spouses are fully underwritten

enhanced facility benefit
Option increases Monthly Cash Benefit for Facility Care

33% increase in benefit for 10% premium increase

Available on all Cash Benefit Accounts

Turn The Sale Around

Enhanced Facility Benefit
new rate classes
Preferred – 10% Discount

Standard

Previous Class Three Conditions are Now Considered Under Standard Class

NEW Underwriting Enhancement

New Rate Classes
discounts
*Care Partner Discount:

20% Savings if One Purchases

40% Savings if Both Purchase and are Accepted

PLUS

10% Preferred Health Discount

PLUS

10% Affiliation or Employer Program Discount

The Simplicity Improvements (NO CAP)

Discounts

* Varies by State

inflation options
None

5% Simple

5% Compound 2X Max

5% Compound No Max

3% Compound No Max (Partnership Ready)

The Simplicity Improvements (New Option)

Inflation Options
new medamerica s national cost survey on home care

NEW SOFTWARE TOOL

NEW!MedAmerica’s National Cost Survey on Home Care

Provides The Agent with the Basis for “Right-Sized” Benefit Design

medamerica s national hhc cost data
Conducted by CareScout exclusively for MedAmerica

A Major Software Enhancement

Turn the Sale Around and approach clients with what they desire –REMAIN at HOME

Sell to the Buyer’s Desire

MedAmerica’s National HHC Cost Data
slide22
1,800 home health care providers were surveyed across 79 geographic regions of the U.S.

Data collected on:

Hourly, private pay rates charged by licensed agencies for home health aide. Data on homemaker services was also collected (only private pay rates were used, no Medicare or Medicaid rates were used.)

Minimum, maximum and average hourly rates studied

Providing the Agent with New Tools

Cost of Care Study

slide23
Findings consistent with other studies including LifePlans analysis of formal and informal care giving in the community.

National average for a Home Health Aide was $19.07 (50% above or below)

“People using non-medical home care services use between 22 & 44 hours of home care per week” ($22-$44K annual)

Providing the Agent with New Tools

“Cost of Care” Key Findings

slide24

The Simplicity Advantage

Guaranteed Cash - “All Wheel Drive” for the changing terrain of LTC service delivery.

Pay for Emerging Technology

Any Service Covered even if provided by by Spouse or Non-Licensed Provider

100% Worldwide Benefits

Agent is not put in the Position to Explain Why Expenses are not Covered

slide25

The Simplicity Advantage

Individualized Care Services and Support

  • “Care choice,” not “managed care”
  • CareDirections Family Advice & Advocacy ProgramSM – CareScout, ScriptSave
  • Personal Care Advisors - Independent care plan and support
slide26
How to Design Simplicity ii

The Simplicity Advantage

For Maximum Value

slide31

Simplicity ii

VALUE

Good Things to Know

slide32

Simplicity ii

VALUE

Good Things to Know

employer program
Simplified Underwriting: During open enrollment

Actively-at-work employees

Actively-at-work spouses (30+hours/week)

Age 71 or younger

Website enrollment – a MedAmerica 1st

Join the National Growth in EP Sales

Employer Program
employer program1
Special Care Partner rates, plus 10% discount

Minimum participation: 10 EE’s pass 4 questions

Best World-wide Coverage (100%)

Join the National Growth in EP Sales

Employer Program
twice as simple to sell
Everybody Understands & Needs CASH!

New Face Amount Concept

Targeted to Baby Boomers - Relevant Today

MedAmerica’s National HHC Cost Data – NEW!

Speed App – 4 Questions! NEW!

Partnership Ready NEW!

Robust Multi-Life Program - Enchanced Employer Program

Why Sell #1 LTC Product

Twice as Simple to Sell
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