75
LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

Embed Size (px)

Citation preview

Page 1: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

AgentFast Start Program

Product Introduction

Page 2: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Whole Life vs. Term Life

College / Work

Marriage/ First Home

Children

Peak Earnings &

Asset Accumulation

Debt Reduction

Whole Life

Term Life

Grandchildren

Retirement & Wealth Transfer

Life Begins Life Ends

Page 3: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Open Survey and Complete

Volunteers?

Page 4: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Liberty ProductRecommendation

Page 5: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Play Laptop PresentationFinal Expenses

Page 6: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Not All Products Available in All States.

Check Product Availability Chart

Page 7: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Whole Life

Page 8: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Whole Lifewithout ExtraBenefits

Page 9: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Available for ages 0-80

Face amounts of $2,500, $5,000, $10,000, $15,000. For ages 60-80, $1,000 face amount available.

Guaranteed Death Benefit

The death benefit for a child less than 2 months old is 25% of policy face amount

Guaranteed Premiums

Guaranteed Cash Value

Brochure

Page 10: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Option to Purchase Additional Insurance

Available Riders: Children’s Insurance, Primary Insured Term, Spouse Term

Brochure

Page 11: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Whole Life with Extra Benefits

Page 12: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Available for ages 0-59

Face amounts of $2,500, $5,000, $10,000, $15,000

Guaranteed Death Benefit

The death benefit for a child less than 2 months old is 25% of policy face amount

Guaranteed Premiums

Guaranteed Cash Value

Brochure

Page 13: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Option to Purchase Additional Insurance

Automatically Included Benefits:

Premium Waiver

Accidental Death Two times face amountAuto Accident Three times face amountTravel Accident Five times the face amount

Brochure

Page 14: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Optional riders:• Children’s Insurance Rider• Primary Insured Term Rider• Spouse Term Rider

Brochure

Page 15: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Whole Life

Page 16: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Available for ages 0-70

Face amounts of $20,000 and above

Guaranteed Death Benefit

The death benefit for a child less than 2 months old is 25% of policy face amount

Level Premiums

Guaranteed Cash Value

Paid-Up Insurance Based on Cash Value

Brochure

Page 17: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Options To Purchase include:

Purchase additional insurance on the second and fourth policy anniversaries without proof of insurability. Available for ages 0-55.

Additional riders include:

Accidental Death, Premium Waiver, Children’s Insurance Rider

Brochure

Page 18: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Term

Page 19: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

All Individual Term Products Use Application A-250

Page 20: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

ART, MDT and LPDT

Page 21: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Annual Renewable Term (ART)

Page 22: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Play Laptop PresentationMonthly Income

Page 23: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Available for ages 0 through 75

Minimum face amount is $20,000

Minimum rider amount is $15,000

Premiums are guaranteed for one year

Brochure

Page 24: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Premiums cannot exceed the policy’s guaranteed maximum premiums

Renewable to age 100

Lump Sum or monthly income benefits

Brochure

Page 25: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Convertible to a permanent plan without proof of insurability prior to the insured’s 80th birthday

Extra Benefits:ADBPWChildren’s Insurance RiderPrimary Insured or Spouse Term Rider

Brochure

Page 26: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

In NAIC states, the illustration will include a signature page. Customer signs page 3 if the illustration is exactly as applied for

In NAIC states, if the illustration is different from what is applied for or no illustration is generated – Certification R-3408 must be submitted with the application

Proposal Illustration

Page 27: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

In NAIC states, if certification R-3408 is submitted with the application or the policy is issued different than applied for, the illustration will print with the policy.

The Agent is required to deliver the policy and get the illustration signed. The signed illustration page must be returned to the Home Office within 45 days or commissions will be charged back.

Proposal Illustration

Page 28: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Mortgage Decreasing Term (MDT)

Page 29: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Play Laptop PresentationMortgage

Page 30: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

An MDT policy is designed to provide coverage that decreases according to the number of years left on the mortgage and the mortgage interest rate

The mortgage period may be between 10 and 35 years

Brochure

Page 31: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

The interest rate may be for 5% to 20% in increments of .25%

Available only on Fixed-Rate Mortgages

Same issue ages as ART – 0 through 75

Brochure

Page 32: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Premiums are guaranteed for one year

Convertible to age 80

Renewable to age 100

Brochure

Page 33: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

MDT FAQ

Why would you buy an MDT instead of a 10RT?

A: With an MDT they only pay for the amount of coverage they need to pay off the mortgage.

With the 10RT they are paying for more coverage than is needed to pay off the mortgage.

Page 34: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Complete Sample Proposal & Review

Page 35: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Level Premium Decreasing Term(LPDT)

Page 36: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

No Brochure

Designed to decrease the face amount enough each year to keep the premium level

Page 37: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Complete Sample Proposal & Review

Page 38: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

A proposal illustration should always be used when presenting one of the term products. In NAIC states a proposal illustration is required.

Rates per thousand along with an example of how to calculate rates are on the rate sheet.

Rates

Page 39: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

SupplementaryBenefits Brochure

Page 40: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Premium Waiver(PW)

Page 41: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

If the primary insured is disabled between ages 5 and 60 premiums are waived as long as disability continues

If the primary insured is disabled between ages 60 and 65 premiums are waived until age 65

Page 42: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

If Premium Waiver is included on the base policy, then premium waiver must be included on any term rider(s)

Although the PW premium is based on the age of the spouse, PW on a spouse rider covers the disability of the primary insured only, not the spouse

Page 43: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

PW may be rated or declined

Disability must last 6 months before PW benefits will begin

Issue ages 0 through 59

Coverage ceases at age 65

Page 44: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Accidental Death Benefit(ADB)

Page 45: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

An additional death benefit if the insured’s death results, directly and independently of all other causes, from an accidental bodily injury

Maximum ADB is equal to the base plan face amount, subject to $150,000 maximum

Page 46: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

$1.45 annual premium per thousand for ADB on term plans

For Whole Life, Unique Life, and 5RT premiums, see rate pages

Issue ages 1 – 59

ADB coverage ceases at age 65

Page 47: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Primary Insured/Spouse Term Rider

Page 48: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Only one term rider may be added if the base policy is a term plan

The term rider may be an ART, LPDT, MDT, 10 RC, 20 RC, VL 10, VL 20 policy

Page 49: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Term riders are available in amounts of $15,000 and above

There is no policy fee for the term rider

Page 50: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Children’s Insurance Rider

Page 51: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Term insurance on the life of each child of the primary insured

No benefit payable if a child is less than 15 days old at death

Page 52: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Child, Stepchild, Legally adopted child, be named in the application, be born and survive to age 15 days or be legally adopted by the insured after the date of application.

Covered Children

Page 53: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

The child must be under age 19 last birthday on the effective date of the rider or on the date of legal adoption or the date of any supplemental application with respect to a stepchild.

Covered Children

Page 54: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Issue Ages – 16 through 59 (primary insured)

Issue Amounts $5,000, $10,000, $15,000, $20,000 and $25,000

The CIR cannot exceed the primary insured’s coverage (base policy plus rider)

Page 55: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Coverage expires on the primary insured’s 65th birthday

Upon the death of the insured, future premiums will be waived to the expiry date

Page 56: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Conversion – Prior to the child’s 25th birthday and before the expiry date of the CIR

The coverage may be converted to a new policy without evidence of insurability

Page 57: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

If the conversion request is received after the CIR has been in force five years, the amount of the new policy may be up to five times the amount provided by the insured child by the CIR, but may not exceed $50,000. Otherwise the amount of the new policy is limited to the amount provided by the CIR

Page 58: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

The converted policy includes at no cost an option to purchase additional insurance (OPAI) with two option dates. They may be any two of the following:

•Attainment of ages 28 and 31•Marriage of the insured•Live birth of a child born to the insured•Legal adoption of a child by the insured

Page 59: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

All children are covered for one rate

Page 60: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Interim Term Rider

Liberty National can provide life insurance benefits to help cover hospital and doctor bills, mortgage or rent payments, funeral expenses and cemetery costs, auto loans, and unpaid credit cards.

Page 61: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Interim Term Rider

• Allows Interim Term Rider insurance coverage on each covered person for one month. Interim Term Rider coverage will terminate after the first month.

• Available only on whole life and term insurance plans of $50,000 face amount and under. Will NOT be available on Select Life 20, Payroll Deduction, or ALX.

Page 62: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Interim Term Rider

• The Interim Term Rider benefit will be equal to the initial death benefit on each covered person, up to the $50,000 maximum amount (any Primary Insured Rider amount will count toward that maximum). No offer can be made if the total initial death benefit on any one insured, including Primary Insured Rider, exceeds $50,000.

• Accidental Death Benefit will be payable as provided by the policy, up to a $50,000 maximum.

• Use the A-250 application. Check box with blank line in question 14, and write in “Interim Term”.

Page 63: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

A-250 Application - Question #14:

Interim Term

Page 64: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Interim Term Rider Examples:Face Amount Interim Term Amount

#1-PI Base $30,000 $30,000

#2-Base + Rider

A. PI Base $30,000

PI Rider $20,000

Total $50,000 $50,000

B. PI Base $30,000

PI Rider $30,000

Total $60,000 Not Available

Page 65: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Interim Term Rider Examples:

Face Amount Interim Term Amount

#3-Base + ADB

PI Base $50,000 $50,000 PI

PI ADB (If Acc. Death) $50,000

Total $100,000 $100,000

#4- Base+ Spouse + Children

PI Base $30,000 $30,000 PI

SI Rider $30,000 $30,000 SI

CI Rider $10,000 $10,000 CI

#5- PI Base $75,000

Page 66: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

The Interim Term Rider effective date and expiry date will be printed in the policy.

Page 67: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

The Interim Term Rider will expire on the effectivedate of the policy.

Page 68: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

The Interim Term Rider period begins on the effective date of this rider and ends on the expiry date. In no event will this rider and the policy to which it is attached be in force at the same time. No benefits are payable under this rider if benefits are payable under the policy.

Page 69: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Cancer Care & Cancer Care Plus

Page 70: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Play Laptop PresentationCancer Insurance

Page 71: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Cancer Care and Cancer Care Plus – Individual, Single Parent or Family CoverageCancer Care Plus contains higher benefit amounts and a dread disease benefit

Guaranteed renewable for life, cannot be cancelled as long as you pay premiums

Benefits reduce at age 65

Refer to your state brochure for specific benefits. South Carolina has a related-illnesses benefit.

Page 72: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Issue ages for Cancer are 0 – 63

Benefits paid to the insured unless otherwise directed in writing

Under some governmental plans (such as Medicaid) benefits have already been assigned by the insured.

There is a 30-day waiting period

Outlines of coverage required in some states. Refer to Agent’s Instruction Guide.

Page 73: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Cancer Policy ApplicationA-372

Page 74: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Application A-372Each application has a unique number, cannot be downloaded or copied.

When completing an application for family cancer coverage, the oldest spouse must be listed as the proposed insured. Premiums will be calculated based on the age of the oldest spouse.

Page 75: LNL0937 1108 Fast Start 3 Agent Fast Start Program Product Introduction

LNL0937 1108Fast Start 3

Individual RatesFlorida has different rates on cancer

Worksite Rate CardsFlorida R-3290FGeorgia R-3290-GSouth Carolina R-3290-SAll others R-3290