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Increase Your Success With Modified Offers For producer use only. Not for use with consumers.

Increase Your Success With Modified Offers For producer use only. Not for use with consumers.

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Increase Your Success With Modified Offers For producer use only. Not for use with consumers.

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  1. Increase Your Success With Modified Offers For producer use only. Not for use with consumers.

  2. When the underwriting processreveals information that was not evident from an application, The Standard’s underwriters look at the whole picture and may try to create an offer of coverage in light of the new information. In these cases you are likely to receive a modified offer, sometimes more than one, so your customers have achoice of coverage. Overview of Modified Offers 13929PPT (8/19) SI/SNY

  3. Some choices may mean premiums for your customers are lower than the premiums for unmodified offers would have been. These Are Good Offers of Coverage 13929PPT (8/19) SI/SNY

  4. How to Increase Your Success in Placing Modified Offers

  5. Spend enough time with your customers so you understand their lifestyles and insurability. Find Out: • What are their hobbies? • Do they work at home, in an office or somewhere else? Take Time to Get to Know Your Customers 13929PPT (8/19) SI/SNY

  6. What are their medical histories? It’s crucial you know the answer to this question. Take Time to Get to Know Your Customers Speak to your customers about the types of medical issues that could impact their insurability. 13929PPT (8/19) SI/SNY

  7. By far, the most important aspect of selling modified offers is preparing your customers and setting expectations. Help your customers understand that even though they may be feeling fine at the time of their applications, for underwriting purposes, previous conditions might be considered and result in modified offers. Set Expectations 13929PPT (8/19) SI/SNY

  8. Applicants may not think about conditions for which they take maintenance medications, such as high blood pressure, depression or medical equipment like C-PAP machines for sleep apnea, when they are not currently experiencing symptoms. Set Expectations 13929PPT (8/19) SI/SNY

  9. As you prepare quotes, explain quote details to your customers to ensure the offers of insurance do not differ from their expectations. Explain what the offer of coverage may look like once the underwriters have the complete picture. Set Expectations 13929PPT (8/19) SI/SNY

  10. Help Your Customers Understand the Value of Modified Offers

  11. Help them understand that for the any one item excluded, there are always a host of other important conditions that are covered. Help Your Customers See the Whole Picture Ask, “What will you do if any of the other conditions happen to you?” 13929PPT (8/19) SI/SNY

  12. Try This Draw a circle. 13929PPT (8/19) SI/SNY

  13. Try This Fill the circle with dots. As you do so, say, “You have coverage for this and this and this” and so on. 13929PPT (8/19) SI/SNY

  14. Help Your Customers See the Whole Picture Then point to one dot and say “You are not covered for this.” 13929PPT (8/19) SI/SNY

  15. Revisit the Need for Disability Income Insurance

  16. Disabilities Have Many Causes This example is provided only to show a breakdown of The Standard’s open claims above as of Jan. 31, 2019 without regard to the decision made on each claim. Having the conditions listed does not establish disability. Each claim is evaluated on its own merits and according to the terms of the policy. 13929PPT (8/19) SI/SNY

  17. The Length of Disabilities Is Tending to Increase Could your customers manage financially if they were unable to earn an income for this length of time? 13929PPT (8/19) SI/SNY

  18. When You Deliver a Modified Offer, Your Attitude Matters!

  19. If you deliver modified offers to your customers with a positive attitude, it can make all the difference. Your customers will take the leadfrom you. Your Attitude Matters 13929PPT (8/19) SI/SNY

  20. Resources • The Value of Modified Offers Flyer, form 14744DIY SI/SNY. You can customize this flyer with your contact information and provide it to your customers. • Download The Standard’s sales and marketing materials from the disability insurance professionals website at www.standard.com/di and select Find Marketing Materials. 13929PPT (8/19) SI/SNY

  21. We Are Here for You For more help in placing modified offers, please contact: • Email getinfo@standard.com • Call 800.992.4446 (800.378.6057 in New York.) We are always happy to assist you. 13929PPT (8/19) SI/SNY

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