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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
CriticalCare Plus®
Coverage to help fill a critical gap
Presented by…
Policies issued by American General Life Insurance Company, a member company of AIG
FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Are your clients asking questions about health care?
This conversation is top of mind.
Maybe it’s time to revisit some ideas and solutions that can help address these concerns with your clients…
FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
New Sales OpportunitiesCritical Illness insurance can give clients piece of mind by
providing funds for what’s best for their health and to help
preserve their wealth. It can also be used by small business
owners to protect the business continuity from one generation/
partner to another in the case of illness.
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Life Insurance is a Key Component to Any Financial Plan
But What If You Don’t Die?Tremendous breakthroughs in medical technology have vastly improved survival rates
Life expectancy – People are living longer!
– In 2050, the number of Americans age 65 and older is projected to be 88.5 million,
more than double its projected population of 40.2 million in 2010.1
– For a married couple age 65, there is a 50% chance that at least one spouse will live
to 94, and a 10% chance that one will live to 104.2
Medicine saves people, but quality health care does not come cheap
Let’s look at some eye opening statistics!
1 The Next Four Decades, The Older Population in the United States: 2010 to 2050 U.S. Department of Commerce, Economics and Statistics Administration, U.S. Census Bureau. Issued May 2010, P25-1138.
2. Prepared by Ernst & Young Insurance and Actuarial Advisory Services practice. The analysis uses the Annuity 2000 mortality table with Scale G2 mortality improvements.
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Eye Opening Stats
83.6 million Americans are living with cardiovascular diseases1
75% of people who suffer a heart attack survive at least three years2
About 6.8 million Americans over age 20 had a stroke1
70% of people who suffer a stroke survive at least three years3
1American Heart Association, Heart Disease and Stroke Statistics – 2013 Update2American Heart Association, Heart Disease and Stroke Statistics – 2011 Update3American Heart Association, Heart Disease and Stroke Statistics – 2010 Update
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Eye Opening Stats
Between 50% and 70% of stroke survivors regain functional
independence, but 15% to 30% are permanently disabled, and 20%
require institutional care at 3 months after onset1
In 2013, 1.66 million Americans were expected to be diagnosed with
cancer2
68% were expected to survive at least five years2
Average out-of-pocket cost for cancer patients is $1,266 per month3
1American Heart Association, Heart Disease and Stroke Statistics – 2011 Update2American Cancer Society, Cancer Facts & Figures, 2013 update32011 ASCO Annual Meeting, Yousuf Zafar, MD, MHS, Assistant Professor of Medicine,Duke Cancer Institute. https://meetinglibrary.asco.org/content/58992
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
What if They Don’t Die?
They may have to direct monies that they had planned to use to save for
retirement or pay their life insurance premiums
If they lapse their life insurance policy they may not be able to get it back!
Help protect your clients with another insurance solution!
– Life insurance can protect your clients from an untimely death
– Critical Care Insurance can protect your clients from an untimely diagnosis
Don’t leave your clients exposed!
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Your Client’s Should Be Aware
If they become seriously ill they may have out
of pocket liabilities
The medical networks that your clients can
utilize are getting smaller and smaller
The likelihood of your client having to go to an
out of network facility is increasing everyday
– Out of network = potentially more money out of
their pocket
How are they going to pay for these additional
expenses?
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Flexibility
With a Critical Care Insurance Policy if the client gets diagnosed with a
qualifying illness they can use the policy proceeds to help with whatever they
want
The money goes directly to the insured policy owner
– Use the money for medical expenses
– Pay other bills
– Still pay life insurance premiums
– Pay out of network costs
Basically any expense they have!
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Costs not Covered by Traditional Health Insurance
Direct Costs Indirect Costs
Deductibles Lost Income
Co-Pays Lifestyle Changes
Policy Exclusions(Such as experimental
treatment)
Increased Financial Responsibility
Out of Network Medical Costs
Transportation and Lodging for Non-Local
Treatment
FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Who are the prospects?
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Target Markets
Individuals in blue collar occupations
High “wage earning” professionals
Individuals with certain medical conditions
Knee problems
Situational depression
Clients with life insurance coverage
Single working parents
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Target Markets
Individuals not eligible for disability income
insurance
Individuals in high risk occupations
Stay at home parent’s
Individuals with back problems
Individuals with situational depression or
other disqualifying health issues
Small business owners without an
established level of income
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Strengthen clients’financial resources andcreate new incomestreams for your business
CriticalCare Plus
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Key Benefits and Features
With the option to secure a lump-sum critical illness
coverage up to $500,000, benefits include:
Immediate payment to the insured upon diagnosis of a
qualifying illness
Tax-free payment to policyowner1
Freedom to use the policy payout as needed-
To replace lost income, cover deductibles, co-pays or out-of-
network expenses
Pays in addition to other insurance
Loss of Independent Living Benefit included
1Based on current federal income tax laws.
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Make Decisions Based on Health not Wealth
Benefits Provide the Freedom to help:
Choose the best hospitals and physicians
Elect treatments or services not covered by traditional health insurance
Pay mortgage, debts, or outstanding bills
Seek experimental drugs or therapies
Modify a home for special needs
Stay home from work until you are ready to return
CriticalCare Plus
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Policy Specifications
$10,000 minimum
$500,000 maximum
Issued in $1,000 increments
Spouse coverage not to exceed primary insured’s coverage;
not to exceed 50% for non-working spouse
Insured child limit of $50,000 (not to exceed primary insured’s
coverage)
Issue Limits
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Policy Specifications
Male or Female
Age 18-64 for all non-tobacco plans
except the 10-year term plan
Age 18-59 for the 10-year term
plan and all tobacco plans
Nicotine or Non-nicotine
Three rate bands
– $10,000 to $50,000
– $50,001 to $100,000
– $100,001 to $500,000
Rates & Riders
Benefit Extension Rider (optional)
Medical Personnel HIV Benefit
Rider (optional; medical personnel
only)
Accidental Death and
Dismemberment (optional)
UNOS Listing Advance Benefit
for Major Organ Transplant
(no additional charge)
Issue age tobacco and non-tobacco in Pennsylvania is 18-55.
BER is not available in AR, CT, GA, ID, TX, UT, VA, and WA
Medical Personnel HIV Rider is not available in California, Georgia, Pennsylvania or South Dakota
The Benefit Extension Rider is only available on plans with cancer coverage included.
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Qualifying Events1
1All benefits payable are subject to the terms and conditions of the policy, including benefit durations, limitations and exclusions. Benefits, coverage and coverage options, riders, issue ages, limitations and exclusions vary by state. Please consult the policy and rider forms and outline of coverage for details.
Cancer Major Organ Transplant
Paralysis (100% for Quadriplegia or
50% for Paraplegia or Hemiplegia)
Kidney (Renal) FailureLoss of Sight, Speech or
Hearing Cancer In Situ
(25% up to $25,000)
Heart AttackLoss of Independent
LivingUp to $50 per Year
Health Screening Benefit
Severe BurnsCoronary Artery Bypass (25%, up to a maximum of $50,000, one-time benefit)
Stroke
Coma
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Loss of Independent Living
Loss of Independent Living is defined as permanent loss of two
or more of the six activities of daily living, with an elimination
period of 180 days:
LOIL – Unique qualifying event to CriticalCare Plus
Bathing Dressing Toileting
Transferring Continence Eating
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
CriticalCare Plus
Full benefit is payable through age 70
No reduction at age 65
After age 70; Loss of Independent Living remains the sole covered
condition with full benefits for life
Other key product features include:
Preventative Care Benefit
Return of Premium
Pays named beneficiary 100% of all paid premiums, minus any benefits paid, upon
death of the insured.
Return of Premium is not available in Iowa, Pennsylvania, Texas and Virginia.
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Costs that can be Covered by CriticalCare Plus
Blood test for triglycerides Mammography
Breast ultrasound Pap test
Chest X-Ray PSA (blood test for prostate cancer)
Colonoscopy Serum cholesterol to determine HDL and LDL
Electrocardiogram Serum protein electrophoresis
(blood test for myeloma)
Fasting blood glucose Stress test
Flexible sigmoidoscopy Hemocult stool analysis
In addition pays up to $50 for health screening tests during each calendar year
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
The only critical illness with term options:
In addition to the Lifetime Plan, CriticalCare Plus is also available as: –10-Year Term–15-Year Term–20-Year Term–30-Year Term
Why would I purchase a critical illness insurance for a specified coverage period?–To provide coverage until the children graduate college–To provide coverage for the balance of the mortgage–To provide coverage for the period of an outstanding loan or any
other limited financial obligation–Succession planning – business continuity
FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Underwriting
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
Underwriting
CriticalCare Plus is a fully underwritten product.
Face amount of $100,000 and under require non-medical
underwriting. Face amounts over
$100,000 require medical underwriting.
Face Amount Ages 18-40 Ages 41-50 Ages 51-64
$100,001-249,999 PM, B/U PM, B/U PM, B/U, EKG
$250,000-500,000 PM, B/U PM, B/U, PHI, APS
PM, B/U, PHI, APS, EKG
PM = Paramedical exam to include height and weight, blood pressure, and pulseB/U = Full blood profile and urinalysisEKG= Resting EKGPHI = Person History Interview typically performed by a paramedical examinerAPS = Attending Physician Statement
FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
How to Build the Policy…
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
How Much Coverage do they need?
Questions to think about…
What is their disposable income?
What is their budget?
This product protects against a short term need vs a long term
need
There is normally an expectation of recovery
6-12 months on average
Is the client single?
Is the client a business owner?
FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
eMail: A&[email protected]
Web: www.americangeneral.com/illness
Call: 877-399-7747, prompt 1
To get startedToday, contact:
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FOR FINANCIAL PROFESSIONAL USE ONLY-NOT FOR PUBLIC DISTRIBUTION
These product specifications are not intended to be all inclusive of product information. State variations may apply. Please refer to the policy for complete details.
Policies issued by:
Policies issued by: American General Life Insurance Company (AGL), Policy Form Number 05130, Rider Form Numbers 05137, 05138, 05139. Issuing company AGL is responsible for financial obligations of insurance products and is a member of American International Group, Inc. (AIG). AGL does not solicit business in the state of New York. Policies and riders not available in all states.
Comprehensive medical coverage may be required in order to apply for or maintain this policy.
Guarantees are backed by the claims-paying ability of the issuing insurance company
Important: Prior to soliciting business, be certain that you are appropriately licensed and appointed with the insurer and that the product has been approved for sale by the insurer in that state. If uncertain, contact your American General Life Insurance Company representative for assistance.
AGLC107914
© 2014 American International Group, Inc. All rights reserved.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries.. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in theUnited States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.