Simplicity agent training
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Simplicity Agent Training. Question: Are you selling the new kind of LTCi or the old kind?. Introducing…. from MedAmerica. You’ll be a STAR with your customers when you deliver the Highest Quality Coverage at Affordable Premium Rates from a company committed exclusively to LTC since 1987.

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Simplicity Agent Training

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Simplicity agent training

Simplicity Agent Training

Form #S502-305 For Agent Use Only


Question are you selling the new kind of ltci or the old kind

Question: Are you selling the new kind of LTCi or the old kind?

Form #S502-305 For Agent Use Only


Simplicity agent training

Introducing…

from MedAmerica

You’ll be a STAR with your customers when you deliver

the Highest Quality Coverage at Affordable Premium Rates

from a company committed exclusively to LTC since 1987

Here are 4 powerful points to use:

  • Count on MedAmerica.

  • Highest rated coverage (91 by SellingLTC.com)

  • Rightsizing coverage to fit client needs.

  • Get a Lock on Affiliations and small businesses!

Form #S502-305 For Agent Use Only


Count on medamerica

Count on MedAmerica

  • Strong ratings – rated A- by Standard & Poor’s since 1997 & A.M. Best since 1994.

  • 18 years dedicated exclusively to LTC.

  • Owned by $4.5B not-for-profit health care company putting policyholders ahead of shareholders.

  • No rate increases – EVER!

  • Over $100M in claims paid.

Form #S502-305 For Agent Use Only


In force policies

In-force Policies

Thousands

Form #S502-305 For Agent Use Only


Earned premium

Earned Premium

Thousands

Form #S502-305 For Agent Use Only


Profit before fas 133

Profit(before FAS 133)

Thousands

Form #S502-305 For Agent Use Only


Simplicity agent training

Growth in Assets(000’s)

Thousands

Form #S502-305 For Agent Use Only


Simplicity agent training

Actual vs. Expected Claims

Expected

% of Premium

Duration by Year

Form #S502-305 For Agent Use Only


Key product features

Highest Rated Coverage

Key Product Features

Form #S502-305 For Agent Use Only


Key features

Key Features

  • Simplicity is designed to be tax qualified. 2 out of 6 ADL’s and cognitive benefit triggers apply.

  • Cash Benefit pre-paid each month.

    • No submission of third-party bills for reimbursement required. No restrictions or limits apply.

  • One policy with riders to enhance or simplify coverage (facility or community only)

  • No limitations or exclusions.

Form #S502-305 For Agent Use Only


What if there was a policy

What if There Was a Policy…?

  • Without – defined lists of providers

  • Without – defined lists of types of service

  • Without – restrictions OR limitation on what, when, where or who uses or provides the service

    And what if it

    was paid in CA$H – in advance?

Form #S502-305 For Agent Use Only


Simplicity agent training

Coverage Made Easy

  • OTHER PRODUCTS

  • “talk about confusing…”

  • Providers as listedAny Service

  • in the contract and approved

  • by the insurer.  Anywhere

  • Type of services listed in the

  • contract and approved by the  From Anyone

  • insurer

Form #S502-305 For Agent Use Only


Product overview

Product Overview

Form #S502-305 For Agent Use Only


Core benefits

Core Benefits

For illustrative purposes only, availability of benefits, options, riders and discounts may vary by state.

AgeLimitations: 18-85 (lifetime benefits not available under age 50)

Monthly Benefits: $2,100 and up in $300 increments. $12,000 cap for 7 year duration and under. $9,000 cap for unlimited duration.

Calendar Day EP: 30, 60, 90 or 180

Lifetime Max: 24, 36, 48, 60, 84 or Unlimited Months

Worldwide Coverage: No limitations or benefit reductions.

Form #S502-305 For Agent Use Only


Riders

Nonforfeiture Riders:

Shortened Benefit Period

Return of Premium

Full Return of Premium

Restoration of Benefits:

Joint Benefits

Shared Care Rider

Shared Waiver

Survivor Benefit

Flexible Payment Options:

Paid in Full at Age 65

Reduced Premium (Age 65 or Age 70)

10 Years Paid in Full

Inflation Protection:

5% Simple No Max

5% Compound 2X Max

5% Compound No Max

None

Riders

Form #S502-305 For Agent Use Only


Shared care rider

Shared Care Rider -

  • Allows spouse with identical benefits to tap into benefits of other spouse

  • Upon death, remaining benefits are passed to surviving spouse with no additional premium cost.

  • Complements “rightsizing” strategy with shorter benefit durations, i.e. 5/5 = 8/2

Form #S502-305 For Agent Use Only


Rightsizing coverage

Rightsizing Coverage

Rightsizedcoverage.It’s the RIGHT THING TO DO.

Form #S502-305 For Agent Use Only


How much hhc coverage is enough

How much HHC coverage is enough?

Industry Facts:

  • 85% of LTCi policyholders received reimbursement of $75 or less

  • Average Monthly Claim: $1,527-$1,661

  • HHC claimants receive on average 36 hours of formal HHC per week. Family members provide 23 hours of care (unpaid per week).

Form #S502-305 For Agent Use Only


Turning the sale around

Turning the Sale Around

Consider asking your client to base their monthly cash benefit on how much they will need to live in the community in their own home.

That’s called the “community benefit”.

If at some point, they need care in a facility, their monthly cash payment will increase to a “facility benefit”.

Form #S502-305 For Agent Use Only


Turning the sale around1

Turning the Sale Around

Facility Care

Last Care Option

Usage flat over last 13 years

First Choice of Client

Usage increased by 400% over

last 13 years

Home Care

Form #S502-305 For Agent Use Only


Turning the sale around2

Turning the Sale Around

Home Care

First Choice of Client

Cover Based on Need

Cash paid regardless of Services

Last Care Option Choice

for Client

Cash paid at 120% of

Home Care

Facility Care

Form #S502-305 For Agent Use Only


What s the right size for duration

What’s the Right Size for Duration?

Industry Facts:

  • Only 15% of claims exceed 24 months. Of those, only 7% exceed 36 months.

  • 97% of claims are less than 60 months in duration

Form #S502-305 For Agent Use Only


Right size with simplicity

RIGHT SIZE with Simplicity

  • Rightsized Durations: 3, 4, or 5 years.

  • Statistics say that your customer is better off with a higher monthly benefit for a shorter duration than a lower monthly benefit for a lifetime duration.

  • Compared to lifetime benefits:

    5 year = 38% lower premium

    4 year = 46% lower premium

    3 year = 55% lower premium

Form #S502-305 For Agent Use Only


Right size with simplicity1

RIGHT SIZE with Simplicity

Inflation Options

Your customer needs inflation protection, and we offer 5% simple and 5% compound (2x max) as affordable options to the traditional 5% compound.

Compared to 5% Compound

5% simple = 41% lower premium

5% compound (2 x max) = 54% lower premium

Form #S502-305 For Agent Use Only


Rate comparison age 50 couple

(Old) Traditional Reimbursement

Unlimited

Compound/no max

Home Care (monthly reimbursement max $4,800)

Annual Premium

($2,722 x 2 = $5,444)

(Facility benefit $4,800)

(New) Simplicity

Cash

5 year (60 months)

Compound 2x

Home Care (monthly pre-paid benefit) $4,800

Shared Care

Annual Premium

($1,043 x 2 = $2,086)

Premium Savings = -$3,358

(Facility benefit $6,000)

Rate ComparisonAge 50 Couple

Form #S502-305 For Agent Use Only


Get a lock on affiliations small businesses

Get a lock on Affiliations & Small Businesses

Multi-life Programs:

  • Affiliation: 10% discount

  • Employer: 10% discount and simplified underwriting for employees when 10 or more qualify for coverage.

Form #S502-305 For Agent Use Only


Simplicity is unique

Simplicity is Unique

  • Simple, flexible, tax qualified plan with competitive premiums

  • Prepaid Cash Benefits

  • Worldwide Coverage

  • No limitations or exclusions

  • Multi-life programs

  • Pay by credit card

Form #S502-305 For Agent Use Only


Simplicity target markets

Simplicity Target Markets

  • Ages 40-65

  • Healthy couples (married or care partners) 40% discount

  • Affiliations – up to 53% discount

  • Employer Programs – 4 question Simplified Underwriting

  • Executive Carve Outs

  • 10 pay plans – C Corporations

Form #S502-305 For Agent Use Only


Closing

Closing

  • Great Company

  • Great Product

  • Why wouldn’t you sell Simplicity from MedAmerica?

Form #S502-305 For Agent Use Only


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