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Not Contracted Yet? Call us today to boost YOUR sales! [email protected] | www.goldencareagent.com
Why GoldenCare?
• Perfect Portfolio of Products• Superior, Personal Backend Support• Product and Sales Training• LTC CEO Selling Tools Software• GoldenCare Rewards Program• CSG Actuarial Comparison Tools• StrateCision Comparison Tools• Discounted E&O Coverage• Exciting Promotions On Various Products• CareOptions Health and Wellness Hub• Agent Review Consumer Lead Program
WELCOME!Thank you for joining us!
Please dial in to 866-299-7945, with PIN 8754# when prompted.
CareShield from Minnesota Life
CareShield™:A New Solution for Chronic Illness Coverage
• About Minnesota Life
• CareShield Product Overview
• Competitive Differences
• How to Get Started
Agenda
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A.M. Best Company rating (second highest of 16 ratings); Fitch rating (third highest of 19 ratings); Moody’s rating (fourth highest of 21 ratings); Standard & Poor’s rating (fifth highest of 21 ratings).
For more information about the rating agencies and to see where our ratings rank compared to other ratings, please see our website at securian.com/ratings.
Ratings for financial strength and claims-paying ability are important; however they are not reflective of the performance of any registered securities or variable subaccounts. All ratings information as
of June 2016. Securian Financial Group, Inc., is a part of an insurance company holding group. These ratings are assigned to the following Securian Financial Group member companies: Minnesota
Life Insurance Company and Securian Life Insurance Company.
An indicator of financial strength
The value of top ratings
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Annual Premiums
Rates Guaranteed to Never Increase
Benefits Guaranteed – no “use it or lose it”
Only One Decision! – How much do you want?
• Face Amounts $50,000 - $500,000
• Chronic Illness paid at 4% of Face Amount (25 Months)
• CASH Benefit! – Paid regardless of whether care is provided
• Terminal Illness - Full Face Amount Less $10K paid in lump sum. ($10K held back is paid at death)
– Death Benefit – Face Amount less anything already paid out
Built-in Return of Premium Feature
– 50% at 15 yrs, 75% at 20 yrs and 100% at 25 yrs
Highlights
No LTC Continuing Education (CE) or licensing requirements
CareShield
Traditional LTCi Landscape
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Challenges• Increasing rates – pay more for less
• Rate increases on old blocks
• “Use it or Lose it” product
• Too many choices, riders
• CE Requirements
• Underwriting
Results• Fewer companies
• Fewer agents
• Eroding consumer confidence
• Less Sales
• Emergence and growth of alternative products
Combination Life/Annuity and LTCi
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Market Characteristics• Sales increasing (in some circles, not in others)
• Life sale first, then “oh by the way”
• Asset transfer, single pay
Challenges• Too complicated!
• Chronic Illness Rider definitions (101g v 7702b)
• Permanent disability, claim-time benefit calculation
based on life expectancy
Results• Very limited acceptance by LTC oriented agents
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CareShield
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How it works
6 If the 4% accelerated benefit exceeds the IRS per diem limits, the policyholder would be required to take the lesser of the two. 2016 IRS limits: $10,200/month or $124,100/
year. Based on $340/day for 30-day month and 365-day year. Limits are subject to change.7 Only available at given premium refund anniversaries extending 60 days beyond each premium refund anniversary. The premium refund may not equal the sum of premiums
paid. Currently, the premium refund cannot exceed 85% of the policy face amount. Insurance coverage terminates if the premium refund is exercised.
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What makes CareShield different?
• Continuous pay vs. single pay/limited pay options
• Guaranteed premiums for life – with a built-in ROP option1
• Chronic Illness Benefits provided regardless of whether
care is provided (Indemnity Benefit, 100% Cash)
• Condition does not have to be “permanent” in order to be
eligible for chronic illness benefits.2
• No back-end adjustment based on life expectancy at claim-
time like other plans
• No LTC Continuing Education (CE) or licensing
requirement
1Only available at given premium refund anniversaries extending 60 days beyond each premium refund anniversary. The premium refund may not equal the sum of
premiums paid. Currently, the premium refund cannot exceed 85% of the policy face amount. Insurance coverage terminates if the premium refund is exercised.2 Confinement due to medical condition is required to be permanent in Connecticut.
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CareShield may be for your client if they:
• Are concerned about potential premium increases for
standalone LTC
• Want to know they will get a benefit “no matter what”
• Want a simple product that is easy to understand
• Want an option to get their money back if their needs
change
• Are looking for a continuous pay solution for future care
needs
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Our Job is to find this out…and make
the appropriate product
recommendation.
HOW?
Show both…and let your client tell
you who they are.
Is Your Client Risk Averse or Risk Tolerant?
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Which Plan Works Best?
Risk Averse versus Risk TolerantAssume Both pay $5,000 per month, $125,000 Total
Our Job is to find out who they are…and make the appropriate
product recommendation.
CareShield
Cash is THE Most Important Difference-Maker
• Completely Flexible
• Always Relevant
• Never Obsolete
CareShield
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CareShield
• $125,000 Face Amount
• $5,000 Monthly Benefit
CareShield versus Traditional LTCi
Leading LTCi Carrier
• $125,000 Max Benefit
• $5,000 Monthly Benefit
• 3% Compound InflationAnnual Premium - $2,787 Annual Premium - $2,508
59 Year Old Female – pref, non-tobacco
Potential Concerns
• Rates will probably go up
• Use it or lose it
• No ROP Incl. ($3331)
• “Only” 40% Cash Benefit
Potential Concerns
• No Inflation
• *$3,331 Premium
• *$149,379/$5,975
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CareShield
• $200,000 Face Amount
• $8,000 Monthly Benefit
CareShield versus Traditional LTCi
Leading LTCi Carrier
• $200,000 Max Benefit
• $8,000 Monthly Benefit
• 3% Compound InflationAnnual Premium - $3,096 Annual Premium - $3,246
51 Year Old Female – pref, non-tobacco
Potential Concerns
• Rates will probably go up
• Use it or lose it
• No ROP Incl. ($4107)
• “Only” 40% Cash Benefit
Potential Concerns
• No Inflation
• *$4,107 Premium
• *$255,451/$10,618
CareShieldApproved States (As of 04/01/2017)
Gold = Approved States
Gray = Pending States
Black = Non-Filed States63465 DOFU 09-2016
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How to get started
• Register for website access
• Go to the CareShield product page
– Marketing material/apps
– Quote/illustration
– Electronic Application
Marketing materials available
Client Materials
• Consumer Brochure
• Consumer PPT
Advisor Materials
• Financial Professional Guide
• Product Highlights
• Applications
• Marketing Flyer
• Just the Facts
• PPT
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How to register
https://advisor.securian.com/sites/avs/idg
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How to register
https://advisor.securian.com/sites/avs/idg
www.securian.com
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How to register
23
How to register
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How to register
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Register
Main Page
Main Page
Applications & Forms Page
Applications & Forms Page
Applications & Forms Page
Main Page
CareShield Illustration Page
CareShield Illustration Page
CareShield Illustration Page
CareShield “Presentation” Page
CareShield “Presentation”
CareShield “Presentation”
CareShield e-App
Main Page
Click “Products” Tab
CareShield Main Page (top)
CareShield Main Page (bottom)
CareShield Main Page (bottom)
CareShield Main Page (bottom)
CareShield Main Page (bottom)
Understanding “Two” Waiver of Premiums
CareShield Main Page (bottom)
CareShield Main Page (bottom)
Get from
illustration or home
page “Quick Link”
instead
CareShield Main Page (bottom)
CareShield e-App
51
Mobile App – Available NOW!CareShield
Not Contracted Yet? Call us today to boost YOUR sales! [email protected] | www.goldencareagent.com
Why GoldenCare?
• Perfect Portfolio of Products• Superior, Personal Backend Support• Product and Sales Training• LTC CEO Selling Tools Software• GoldenCare Rewards Program• CSG Actuarial Comparison Tools• StrateCision Comparison Tools• Discounted E&O Coverage• Exciting Promotions On Various Products• CareOptions Health and Wellness Hub• Agent Review Consumer Lead Program
CareShield from Minnesota Life
Thank you forjoining us today!
For attending, we will send the CE Voucher, copy of these presentation slides, and more!
Watch your inbox for our email!
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For Contracting and Questions
Call 1-800-842-7799
Or email us at [email protected]
www.goldencareagent.com
Thanks for Attending
