mandy’s(story...problems(with(currentmarketoﬀering(...

Mandy’s story

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Our objecDve

A criDcal illness soluDon that would take care of everything, so people like Mandy would only have to

focus on ge*ng be,er.

What do people really need?

We spoke to real people who’ve fought the ba9le against a criDcal illness

This is what they told us

The 6 needs of CI cover

What do advisers want?

A comprehensive product

“it must pay”

Simple, easy to understand

definiDons – don’t like ADLs and long assessment periods “I’m not a doctor”

Must pay 100% for major condiDons “I can’t tell my clients they only have half cancer”

Strong future insurability

“this is a benefit you keep for life”

CriDcal Illness cover is essenDal

But, how much cover is needed?

“All my clients take R1m” “I always recommend

1X annual salary” “As much as they

can afford”

Problems with current market offering

1.  CriDcal illness benefits offer only lump sum payouts


1.  CriDcal illness benefits offer only lump sum payouts •  Not suitable for most needs


2. Income ProtecDon benefits •  Don’t cope well with intermi9ent treatment •  Don’t allow for recuperaDon


2. Income ProtecDon benefits •  Limited to 100%


3. Insurance benefits typically ignore the “so]er” issues


4. Forced to use lump sum benefit to “approximate” for all the other needs

“In rela(on to the levels of life cover and disability cover that are sold, the level of cri(cal illness cover is surprisingly high. There is a possibility that this might point to some

consumers perhaps incorrectly buying cri(cal illness cover as a proxy for disability cover”

True South report into Disability Cover – March 2013

CI invented in 1983

•  Since then the world has changed but CI products not really evolved •  Has CI kept pace with a changing world?

ü  IP invented ü  New medical advances ü  Medical aid advanced

It’s Dme to hit refresh

The FMI soluDon

CriIcal Illness Lump Sum Comprehensive & flexible

CriIcal Illness Income 130% of income protecDon sum-‐insured for 12 months

FREE Medical Second Opinion Independent review of your

diagnosis and treatment plan from internaDonal specialists

FREE CI Assist To help you and your family with the emoDonal toll and daily stresses of

coping with a criDcal illness

The FMI soluDon

The power of our CriDcal Illness soluDon lies in how all 4 benefits work together

CI Lump Sum

The FMI soluDon


CI Lump Sum CI Income

CI Income

The FMI soluDon



CI Income

Medical Second Opinion

The FMI soluDon



CI Income


CI Assist CI Assist

The FMI soluDon


CriIcal Illness Lump Sum

•  The Extender OpDon Cover for an addiDonal 107 criDcal illness events that pay from 5% to 15% of the sum insured

•  The Top-‐up OpDon Payments for all SCIDEP condiDons and events which usually pay 50% or 75%, increased to 100%

•  Maximum cover – R5 000 000

•  Maximum entry age -‐ 70

•  Cover to age 65, 70, or Whole of Life.

•  Standalone, accelerated, or a combinaDon of both.

•  10 year premium guarantee

What sets our CI Lump Sum apart?

A comprehensive list of events



UlDmate Catch-‐all


Early payments on diagnosis

HospitalisaIon Death benefit

Improved quality and breadth of cancer cover



The UlDmate Catch-‐all

•  Loss of independent existence •  Terminal illness •  HospitalisaDon Expense benefit

•  If hospital bills exceed R250 000 over a 12 month period – single or mulDple hospital visits. 15% of your sum insured

•  A pay-‐out for condiDons that are not covered by any criDcal illness product in the market. •  Cover is future-‐proofed against any condiDons or procedures which don’t exist today.



Early payments on diagnoses

•  Where ADL’s or assessment periods are required

Eg: 25% on diagnosis of a stroke

Balance received a]er meeDng the full definiDon

Early payments on diagnosis

You are not out of pocket while wai(ng to qualify for a larger pay-‐out

HospitalisaDon Death Benefit

•  25% of your sum insured (up to R250 000) if you die within 14 days of being admi9ed to hospital for a listed CI event

HospitalisaIon Death benefit

Improved quality & breadth of cancer cover


1 in 8 men and 1 in 9 women in South Africa are diagnosed with cancer.

The incidence of cancer is expected to rise by 78%

by 2030.

More than 50% of CI claims in the industry.

Improved quality & breadth of cancer cover

•  Breast reconstrucDon benefit ü  AddiDonal pay out for breast reconstrucDon

surgery – 15% (up to R100 000). •  Prostate cancer

ü  Increased pay-‐outs for less aggressive Prostate cancers – 25% for stage T1, regardless of Gleason Score.

•  Early cancers ü  Early cancers and no treatment required.


CriIcal Illness Income

Income protecDon perfected for criIcal illness

130% of your temporary income protecIon cover for 12 months •  If you are diagnosed with any SCIDEP event -‐ regardless of severity level •  Any event with a 100% pay out

no occupa(onal assessment & payments are guaranteed even if you earn an income •  Ex. CABG claims – average 143 days off work

100%

Other advantages to CI Income…

•  Not forced to use a lump sum pay-‐out to provide for a future income

Simplifies the planning process

Saves your clients money •  Cheaper than equivalent lump sum amount

Let’s look at an example

Allows you to reduce your lump sum cover or remove altogether if you only want cover for common and major condiDons @ 100%

Cover Sum insured Premium

CI Lump Sum (with extender and top-‐up)

R500k R156.49

TIP (7 day WP, 24 month BT) R32 000 pm R330.31

CI Income (pay out would equal R500k)

130% R76.71

35 yr old male, non-‐smoker

We’ve got the kids covered

Lump Sum

FREE cover on CI Lump Sum

•  All biological or legally-‐adopted children are automaDcally covered.

•  10% of your CILS benefit to a maximum of R250 000.

•  Everything you are covered for + 10 child-‐specific condiDons.


But what about the ongoing costs of caring for a child living with a

criIcal illness?

Income Lump Sum





Child Protector benefit


You can receive an income unDl your child’s 18th birthday if they are

diagnosed with a listed criDcal illness

Income Lump Sum






We have partnered with Mediguide to bring the Medical Second Opinion (MSO) service to all future FMI Individual policyholders.


An independent review of your diagnosis and treatment plan from a choice of 107 leading medical centres around the world.

ü  Harvard Medical School ü  King’s College Hospital ü  Royal Marsden Hospital ü  Johns Hopkins Hospital


ü  Free of charge ü  Wri9en review within 10 business days ü  Receive your own personalised Mediguide Casebook ü  For R10 pm, you can include your whole family

The original diagnosis can be

wrong up to 18% of the (me.

Harvard medical centre found that their Second Opinions enhanced the original treatment plan up to 90% of the Bme.

An independent review of your diagnosis and treatment plan from a choice of 107 leading medical centres around the world.

CI Assist

Medical advice and informaIon hotline To help understand medical terms etc.

Counselling Individual and family sessions

Child care Au pair / nanny support services to help

with the kids

Travel services to and from treatment Via Uber services

Emergency travel services to hospital Should there be any emergencies

Temporary home and work conversion To help you adjust to living with the condiDon

R4000

R10 000

R10 000

R2000

R20 000

Unlimited

Mandy’s story in acIon

Mandy; age 34, breast cancer fighter, wife and mother of 2 boys. It’s people like Mandy who inspired us to find a be,er soluIon for CriIcal Illness cover. In 2015, Mandy was diagnosed with stage 4 breast cancer. She underwent 5 months of chemo. A]er 8 months her test results were clear, her side effects from treatment were gone and she went back to work.

What would her cover look like?

Our CI cover in acIon

Medical Second Opinion FREE Mandy would have received an independent review of her diagnosis and treatment plan. •  This would have given her and her doctor complete peace of mind when

making important decisions about her health.


CI Lump Sum 100% pay-‐out of R1 million. •  This would have provided for all the medical expenses not paid for by

Mandy’s medical aid. •  Would have allowed her husband to take some Dme off from work to

support her and the children.


CI Income If Mandy only had income protecDon, she would have received R200 000 (R25 000 for 8 months).


CI Income If Mandy only had income protecDon, she would have received R200 000 (R25 000 for 8 months). With CI Income, Mandy would receive a total of R390 000 130% of her sum insured (R32 500 pm) for a full 12 months.


CI Assist To help Mandy cope with the day-‐to-‐day challenges of balancing a busy family with the demands of treatment. •  Transport for Mandy to get to and from treatment. •  An au pair to help look a]er her 2 children. •  Counselling for her and the family.


Breast ReconstrucIon benefit An addiDonal pay-‐out of R100 000 to help her pay for her surgery. •  This addiDonal payment would have allowed Mandy to make the difficult

decision without worrying about the cost.

Summary of our CI product

Mandy would have received R290 000

more with FMI... + CI Assist

+ Medical Second Opinion

We’ve got you covered

ü  The only CriDcal Illness soluDon to address all the financial, emoIonal and pracIcal needs of being diagnosed and living with a criDcal illness

ü  You can select a combinaIon of income

and lump sum pay-‐outs

ü  Income protecDon -‐ perfected for a criIcal illness

ü  Our free Medical Second Opinion benefit

ü  Your children are covered

ü  The best future insurability in the market

MarkeIng support

FMI Individual brochure •  Disability •  CriDcal Illness •  Life

MarkeIng support

FMI Individual brochure •  Disability •  CriDcal Illness •  Life

FMI Individual brochure (with Event Based cover) •  Disability •  CriDcal Illness •  Life

MarkeIng support

CI cover brochure •  Our inspiraDon behind CI •  The 6 needs of CI •  Our soluDon •  How we compare to the market

MarkeIng support

CI digital tool ü  Overview of our CI product ü  CI soluDon in acDon ü  List of events & definiDons

What about exisIng FMI policyholders?

FMI Individual policyholders can add our new CI Income and Lump Sum benefits to their policy

2nd Opinion and CI Assist included free of charge!

Launch Special Offer -‐ 3 months only

Who qualifies? •  Maximum age next birthday 55

•  Accepted at standard rates in the last 3 years

– CriDcal Illness cover or Income ProtecDon

•  No claims or change in health since


CriIcal Illness Lump Sum – up to R5m CriIcal Illness Income (requires temporary income protecDon)

Temporary Income ProtecIon (and BOP) – up to R75 000pm FMI policyholder exisDng cover + 20% Other insurer exisDng cover

Addi(onal benefits Life and Disability Lump Sum – up to R5m Life Income and Extended Income ProtecIon – up to R60 000pm


What is required for non-‐FMI clients? ü  Signed quote ü  Special offer applicaDon form (DOH) ü  Proof of acceptance ü  RPAR No medical tests!


FMI Policyholders – from 1 September!

Advisers receive list of qualifying clients

Request a quote

Quote and DOH signed by

client Acceptance

Where else have we hit refresh?

Unlocked product

restricDons

Decreasing premium pa9ern life income

New, improved applicaDon

form

Website & branding

Quotes package

A be,er way to do life insurance

ü  Life insurance benefits should protect your greatest asset – your income.

ü  You need a combinaDon of income and lump sum benefits for all three risk events.

ü  Monthly income benefits are a be9er way to protect your income.

ü  Everyone should be able to protect their income.

FMI today

The complete Life insurance soluDon

A choice of income & lump sum benefits across all risk events

Backed by a well-‐known brand

Life, done be,er

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