lump sum cancer insurance an affordable way for middle income americans to help protect their assets...
TRANSCRIPT
Lump SumCancer Insurance
An Affordable Way forMiddle Income Americans to
Help Protect Their Assets
1Version 2.0
Welcome!
Objectives
o About Weaver
o Why Cancer Insurance?
o The QSA Plan, TAG’s Cancer Insurance Policy
o Why Sell Cancer Insurance?
o Basic Forms, Documents and Training
o Keys To A Successful Presentation
o Transition To Cancer Insurance From
• Confidential Client Review
• First Product Sale
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Welcome!
o Approach To Getting Referrals
o Next Steps
But First…Wear Your Pink!
• Pink Creates Awareness
• Awareness Leads to Earlier Diagnosis
• Earlier Diagnosis Increases Treatment Options
• Improved Treatment Options Improve Quality of Life
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About Weaver
o Committed to Cancer Insurance for 30 Years
• Agent and Field Manager
• Insurance Company Executive
• Founder, President & CEO of 3 Marketing Organizations
o Recognized Expert In
• Product Design
• Consumer and Product Trends
• Distribution Development
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Why Cancer Insurance?“Even if you have health insurance to pay for your treatment, you may not be in a position to take off work to focus on fighting your disease. You may not be able to travel to a particular hospital or clinic that specializes in the type of cancer you have. Even if you are insured, copays on medicine may drain your bank account.”
- Feb 10, US News and World Report
o According to The American Cancer Society…• Cancer will occur in
- 3 out of 4 Families- 1 out of 2 Men- 1 out of 3 Women
o Local Cancer Incidence Trends
• Many Categories on Increase
• But Survival Rates Improving
• And Costs of Cancer Care Rising
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Why Cancer Insurance? (continued)
o Cancer Care Costs…
54% to 64% of costs are Indirect/Non-Medical and not covered by major medical insurance
• Lost Income
• Co-Pays
• Deductibles
• Alternative Treatments
o Ideal Policy Holder Profile
• 30 – 65 Years of Age
• 80% Women- Note: 90% of “cancer care” to families provided by women
• $35K to $125K Average Household Income
o A Real Difference Maker for Middle Income Americans!6
• Living Expenses
• Lifestyle Changes
• Rent and Mortgage
• Transportation
The QSA Plan
o Two Benefits
• Lump Sum Cash*- 65 and Under: $20,000 – $70,000- 66 to 75: $20,000 – $40,000
o Wellness
• $100 per Insured per Calendar Year for Any of 14 Diagnostic Screenings and Preventative Tests
* All Internal Cancers including: Prostate Cancer, having a Gleason Score greater than 6 or having progressed to at least TNM Classification T2NOMO or equivalent; skin cancer with Clark Level III or higher or having a measured thickness greater than 1.0 MM maximum thickness as determined using the Breslow Method.
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™
The QSA Plan (continued)
o Coverage For…
• Single
• Single Parent
o Rates Based On…
• Lump Sum Benefit Level Desired
• Number to be Covered
• Nicotine Users
• Age
- Use age of youngest spouse
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• Couple
• Family
The QSA Plan (continued)
o Simple Admin Process
• One Page App
• Only Two “Knock Out Questions”
- Ever Been Diagnosed with Cancer?- Biopsy on Unexplained Condition in the Last 12 Months
o Two Page Claim Form
o Clear Policy Language
o 3 Minute Sales Presentation
o Family Heritage Life Insurance Company of America
• Specialists in Supplemental Health Insurance
• “A” (Excellent) Rating from A.M. Best
• A TORCHMARK Company (NYSE: TMK)
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Why Sell Cancer Insurance?
o Fits 360 Confidential Client Review Process
• Cost effective way to protect assets in the event of cancer
o Consistent with Target Market
• Middle Income Americans
o Assist with New Rep Orientation
• Easy Product to Learn and Sell
o Strong Tool to Gain Referrals
o Great Way to Improve Cross-Marketing Efforts
• Cancer Insurance to Other Products
• Other Products to Cancer Insurance
o Strong Closing Ratios
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Why Sell Cancer Insurance? (continued)
o Two Approaches to Gain a Sale
• New Policy Coverage
• Add Lump Sum Coverage along side Existing Policy
o Helps Roadblock Competition
• Your Clients Will Purchase from Someone. Why Not from You & TAG?
o 3 Minutes Gets You Extra…
• Cash for Weekly Expenses
• Referrals to Open More Doors
o Strong Persistency
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Basic Forms, Documents and Training
o Application
o Rates
o Sample Policy
o New Business and Transmittal Process
o TAGFORAGENTS.COM
• Training
Sales Script
How to Videos
• Supplies
Carriers: Family Heritage Life
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Keys To A Successful Presentation
o Use Suggested “Sales Conversation”
o Be Conversational
o Discover Points of Agreement and Acknowledgement About Need
o Move from Presentation to Application
o Coaching Tips
o Learn Presentation
o Study How-To Videos
o Practice, Practice, Practice
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Move to Cancer Insurance Presentation From ConfidentialClient Review or First Product Sale
“Based on your confidential review/information on the application we just completed, I have an idea to help you and your family should you ever hear the words…you’ve got cancer.”
(Direct attention to the Product Sales Sheet)
I imagine you are very aware of the sobering facts about the occurrence of cancer. They are in the news everyday, it seems.
o 3 out of 4 families are affected.
o 1 out of 2 men.
o 1 out of 3 women.
o And in children ages 1 to 14, cancer is the second leading cause of death.
o This year there will be over 1.6 million new cancer cases diagnosed.
Now none of us wants to be part of those statistics, but we can’t know. So here’s a solution on how to address this risk. We call it The QSA Plan.
Here’s how it works. It really is pretty simple.
You pay a certain premium each month for the amount of cash benefit coverage you think you might need.
Assuming you qualify, coverage begins at $20,000 and goes up in $10,000 increments, all the way to $70,000.
In the event that you (or a covered family member) are diagnosed with a covered internal cancer, your QSA Plan benefit will pay directly to you $20,000 up to $70,000…depending on the benefit level you choose when we complete the application for coverage.
And The QSA Plan has a yearly Wellness Benefit which will pay $100 per year to each insured for many diagnostic screenings and preventative tests.
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Cancer Insurance Presentation – Part Two
Fighting cancer is tough enough. Having your own cancer care policy will reduce the number of things you have to worry about.
Folks have used the benefits from The QSA Plan to pay for…o deductible and co-insuranceo treatments and drugs not covered by their major medical insuranceo rent or mortgage, car payments, travelo second opinions, alternative medicine treatment optionso they’ve even used the benefits to supplement the family income when going to work was impossible
You can see where this cash benefit would be useful, right?
There are certain limitations and exclusions I want you to know about.o No benefits are payable for cancer diagnosed within the first 30 or 60 days of the effective date
(depends on state)o The QSA Plan only pays benefits for covered internal cancers
As I said, The QSA Plan is really that simple. And simple is a good thing when you are fighting cancer. Don’t you agree?
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Cancer Insurance Presentation – Part Three
Some people I’ve met with have had “not so positive” interactions with insurance. We want our customers to have a great experience working with us and that is why…
o We’ve made applying for coverage simple. There are no medical exams required…just a few brief health questions to answer on the application.
o There are no complicated or expensive benefit features built into the cost of the policy! There is one important feature, if a covered cancer occurs…a benefit check sent to you!
o Because The QSA Plan requires just one claim form, there are no hassles with filing complicated and multiple claim paperwork. It’s one and done!
o You’ll not have any issues with your current health insurance or Medicare Supplement – or even your existing cancer plan or critical illness policy! The QSA Plan pays directly to you in addition to any others you may have!
o The QSA Plan is guaranteed renewable for life, and premiums won’t increase with age or due to claims!
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Cancer Insurance Presentation – Part Four
I am also proud to point out that the insurance company that stands behind The QSA Plan is Family Heritage Life of Cleveland, Ohio. Serving customers since 1989, they are leading experts in supplemental health insurance.
Like I said earlier…this isn’t something we talk about in general conversations and yet we all know the risks. Most of us have fairly intimate knowledge of what someone goes through as a result of a cancer diagnosis. AND very few of use have money sitting in the bank that would be needed to fight back of a diagnosis comes.
So the time to purchase your QSA Plan is before your doctor informs you of a diagnosis. Doesn’t that make sense?
Not everyone can qualify. For example, if you’ve had cancer before or certain pre-cancerous conditions, you may not qualify.
Before we see if you qualify, would you like to know how much The QSA Plan would cost per month? Rates are based on age, whether or not you smoke, and if you want to cover your spouse and /or children. Let’s take a look.
(Pull out the state-specific rate sheet and application)
o Coaching Tips
• Practice so you can become conversational!
• Punch your presentation with passion!
• Get ready to ask for referrals!
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Asking for Referrals
“First of all I want to thank you for giving me the chance to show you The QSA Plan. It really means a lot that you spent time with me today/tonight.
(Insert their first name), I hope you see that I am passionate about sharing this information. It is important that every family have the opportunity to hear about getting the coverage they may need. That means I need to depend on people like you to point me in the right direction!
Here’s what I mean.
May I ask for the names of at least 5 individuals you know…family or friends…who you think, based on their own experience with cancer or stories about cancer, would be interested in hearing about The QSA Plan?
I promise to be as sensitive, respectful and professional with them as I have been with you.”
(Look down at the paper. Be ready to take down names by grasping pen and holding it over your referral
names list page.)
o Coaching Tips
• Providing a satisfying and professional sales experience is key!
• Never leave without asking for referrals!
- It is the most effective and least expensive lead program ever!
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Next Steps! o Review This Material
o Go to TAG Web Portal to Get Appointed with Family Heritage Life (FHL)
o Go to TAGFORAGENTS.COM• Carriers: Family Heritage Product Material• Training Resource
o Identify Possible Prospects• Existing Clients• Prospects
o Wear Your Pink Bracelet and Lapel Pin
• They are Conversation Starters
o Jump In!
o Consider Weaver as Your TAG Cancer Sales Consultant!
[email protected] 214.632.0173 19