World Financial Group
Agent Training
Advantage & Advantage - 50 Plus
Fi l Expense
Final
E
Products
P d t
For Agent Use Only. Not For Public Distribution.
1
Who is IA American?
y In Business Over 100 Years
y Waco, TX – Home Office
y Experienced
p
c d in Final Expense
p s – 12+ Yearss
y Knowledgeable Employees – Average Tenure 17 Years
y Agent Friendly Company
y Strength & Stability
For Agent Use Only. Not For Public Distribution.
2
S
h&S
bili
Strength
Stability
A.M. Best Rating
A M Best Rating
Combined Assets
A (Excellent)
$1.1 Billion
Capital/Surplus
$428 Million Insurance in Force
$11.1 Billion in Force
Policies in Force
415,220
Sales in 2013
$41 Million
$
(Combined Companies, as of 6/30/14)
And all backed by Industrial Alliance!!!
And all backed by Industrial Alliance!!!
Assets
$83 BILLION
Capital/Surplus
$ 4 BILLION
For Agent Use Only. Not For Public Distribution.
3
Advantage
dv
ge - 50 Plus
us
(Ages 50
50--85)
For Agent Use Only. Not For Public Distribution.
4
Plan Features
Two Options Depending on How Health Questions Are Answered
1. Immediate Death Benefit – pays 100% of face amount immediately upon death
9 Maximum Coverage $35,000 (Issue Ages 50 – 75)
9 Maximum
M i
C
Coverage $20
$20,000
000 (Issue
(I
Ages
A 76 – 85)
2. Return of Premium (ROP ) Death Benefit:
9 Maximum Coverage $20
$20,000
000 (All Ages)
9 If Issue Age is Less Than 65, Pays a total of return of premiums paid plus
10% Annual Interest if Death occurs within the first 3 years; thereafter 100%
of Face Amount*
9 Iff Issue Age
A is 65 or greater, pays a totall off Return off Premiums paidd plus
l
10% Annual Interest if Death occurs within the first 2 years; thereafter 100%
of Face Amount)*
y 100% of Face Amount if Accidental Death
9 Pays
For Agent Use Only. Not For Public Distribution.
5
Ad
Advantage
- 50 Plus
Pl Underwriting
U d
ii
y No medical exams or blood work required
y You field underwrite the application
y Consult Agent Guide for Build Chart,
Chart Impairment Guide,
Guide
and Medication Guide
y Medical Telephone
p
Interview byy Apptical
pp
– Required
q
on all
sales except for ROP
― Point-of-Sale Decision on Plan Qualification
― Translators available in multiple languages
y IA Home Office Automatically Checks the following:
― Medical
M di l IInformation
f
i B
Bureau (MIB) and
d Pharmacy
Ph
Database
D b
For Agent Use Only. Not For Public Distribution.
6
D
i i Eli
ibili
Determining
Eligibility
For Agent Use Only. Not For Public Distribution.
7
Determining Eligibility
For Agent Use Only. Not For Public Distribution.
8
Determining Eligibility
If ALL health questions 1-10 are answered “No”,
the applicant should
sho ld apply
appl for
the Immediate Death Benefit.
For Agent Use Only. Not For Public Distribution.
9
Ad t
Pl
Advantage
- 50 Plus
Plan Determination
Suggestion: Always check this box to avoid the need for an
amendment if the applicant
applicant’ss health requires a change from
Immediate to the ROP Death Benefit Plan.
For Agent Use Only. Not For Public Distribution.
10
States With No Plan Approvals
The Immediate and ROP Death Benefit Plans are currentlyy
not available in the following states:
State
Immediate
ROP
Maine
No
No
Montana
No
No
New York
No
No
South Dakota
Yes
No
Washington
No
No
See Agent Guide for complete list of state-specific requirements.
For Agent Use Only. Not For Public Distribution.
11
Pl s Riders
Advantage - 50 Plus
•
Grandchild Rider (also covers Great Grandchildren)
9 Provides $5,000 (per unit) on each grandchild through age 20.
9 Available in 1 or 2 units
9 Convertible to an individual policy for up to $25,000 (Guarantee Insurability).
9 $12.00
$12 00 per grandchild per year/unit selected
selected.
9 In the event of the Death of the Primary Insured, the coverage under this rider
will be “Paid Up” *
y Child
Children’s
’ IInsurance A
Agreementt (CIA)
9 Provides $3,000 per unit (max of 2 units) on children until age 25 or Primary Insured’s
turns age 65.
9 Convertible at a rate of up to 5 times the CIA coverage.
9 $8.50 per unit per year.
9 Available on Primary Insured ages 50 to 60
9 Available on children from age15 days to 17 years.
9 Not available on the Return of Premium (ROP) Plan
* This Feature is only available on the Immediate Death Benefit Plan (Rider Form # 3131)
For Agent Use Only. Not For Public Distribution.
12
Advantage - 50 Plus
No--Cost Riders
No
• Terminal Illness Accelerated Benefit Rider:
9Can
Ca receive
ece ve up to 100%
00% of
o the
t e death
deat benefit
be e t when
w e the
t e Insured
su ed
has a life expectancy of 24 months or less.
y Accelerated Benefits Rider - Confined Care *:
9Full Time, Permanent Residence in Nursing Home
9Fixed Monthly Payment of 5.0% of face amount
* Available only on the Immediate Death Benefit Plan. Not available in: CA, CT, DC, FL, or SD
For Agent Use Only. Not For Public Distribution.
13
Tips
Ti
f Completing
for
C
l i the
h
Application
For Agent Use Only. Not For Public Distribution.
14
For Agent Use Only. Not For Public Distribution.
15
For Agent Use Only. Not For Public Distribution.
16
17
18
The Agent Guide:
Has ALL the Answers!
Behind Step
p3
Read
ead it…Keep
t… eep itt Handy
a dy !
www.everestfuneral.com/wfg--us
www.everestfuneral.com/wfg
For Agent Use Only. Not For Public Distribution.
19
Tl h
IInterviews
i
Telephone
p
ALWAYS Complete
at Point-of-Sale
y Completed from Applicant’s home or point-of-sale
y Call Apptical using Toll Free Number on Application
y All Interviews are Recorded
y Identify yourself as the agent, IA American as the Product
provider,
id and
d th
the P
Product
d t (Advantage
(Ad t
or Advantage
Ad t
- 50 Pl
Plus))
y Applicant completes the interview with Apptical on their own
y Plan Recommendation Provided by Apptical (Immediate or ROP)
y Insert the Case # Provided by Apptical on Application
y Apptical
pp
transmits results of interview to IA Home Office
NOTE: No Phone Interview required if applying for ROP
For Agent Use Only. Not For Public Distribution.
20
Tl h
IInterviews
i
Telephone
Apptical
A i l
877.351.1773
7:30 am – 1:00 am
M d thru
Monday
th Friday
F id CT
99:00
00 am – 9:00
9 00 pm
Saturday & Sunday CT
For Agent Use Only. Not For Public Distribution.
21
Determining Premium Draft Date
y To Bind Coverage Immediately:
― Check the option “E-Check Immediate 1st Premium” in the CWA (Cash With
Application) field on page 1 of the application.
― Selecting
S l i this
hi option
i requires
i completion
l i off F
Form 9903
9903-WFG,
WFG which
hi h must
be submitted with the application.
― Plus complete the “Preauthorization Check Plan” fields on Page 2 of the
application.
li i
― Ask client to confirm funds are in the account to avoid delays, and if they have
a preference as to which specific day of the month subsequent drafts should
occur. You
Y can iinsert that
h dday on page 2 off the
h application
li i iin the
h “R
“Requested
d
Draft Day” field.
For Agent Use Only. Not For Public Distribution.
22
Determining Premium Draft Date
y To
Draft:
T Select
S l t a Future
F t r Date
D t for
f r Premium
Pr i
Dr ft
― Check “Draft 1st Premium on Requested Date” in Mode field
― Insert desired date in “Requested
q
Policyy Date” field (this
(
will be the date
the 1st premium will be due).
― Complete the “Preauthorization Check Plan” fields on Page 2 of the
application.
pp
If client has a p
preference as to which specific
p
dayy of the
month recurring drafts should occur, insert that day in the “Requested
Draft Day” field.
― IA drafts the first p
premium on the “Requested
q
Policyy Date” and thereafter
on the requested draft day.
For Agent Use Only. Not For Public Distribution.
23
Determining Premium Draft Date
y No
Draft:
N Preference
Pr f r n Regarding
R rdin Timing
Ti in off Premium
Pr i
Dr ft
― Check “Bank Draft” in Mode field.
― Leave the “Requested
q
Policyy Date” field blank (Policy
(
y Date will be based
on date of issue).
― Complete the “Preauthorization Check Plan” fields on Page 2 of the
application.
pp
Leave the “Requested
q
Draft Day”
y field blank.
― IA drafts the first premium on the date the policy is issued. Subsequent
drafts will occur on the same day each month thereafter.
For Agent Use Only. Not For Public Distribution.
24
Completing
p
g the
Preauthorization Check Plan Fields
y Located at the bottom of Page 2 of the Application
y Indicate the Requested Draft Day (if one is preferred)
─ Initial draft must occur within 30 days of the signature date
─ Drafts cannot occur on the 29th, 30th, or 31st
─ Attach a voided check or deposit slip (preferred)
─ If your client cannot provide a void check or deposit slip to
submit with the application,
application you must complete the “Bank
Bank
Account Verification” section of Form 9903-WFG.
─ If the client’s Social Security payment falls on a Wednesday, you
can indicate “2W”, “3W”, or “4W” as the “Requested Draft
Day”.
For Agent Use Only. Not For Public Distribution.
25
E-Check
y Advise your client that their account will be drafted immediately upon receipt of the
application...future drafts will ONLY occur if the policy is issued and will be based
on the next premium due date and requested draft day
y The E-Check
E Check Bank Draft Authorization section (found at the top of Form No.
No
9903-WFG) should be completed & this form submitted along with the
application.
y Advise your client to insure funds are in the account so that all processing continue
without any problem
y If your client wants subsequent drafts to occur on a specific day of the month, no
problem! Just provide that information in the Preauthorization Check Plan found
on the bottom of page 2 of the application
For Agent Use Only. Not For Public Distribution.
California Agents
Don’t forget these required forms !
1. Notice of Lapse Designee Form No. 3011 - must be
completed and sent to the Home Office along with the life
application.
2. California Senior Notice Form No. 9555 - must be
completed and sent to the Home Office along with the
application on sales to clients age 65 or older.
3. Cal
California
fo n a Notice
Not ce Regarding
Rega d ng Sale and L
Liquidation
qu dat on of
Assets Form No. 9649 - must be completed and sent to the
Home Office along with the application on sales to clients
age 65 or older.
ld
For Agent Use Only. Not For Public Distribution.
REMINDERS
y Ask
before
calling
A k ALL
A the
h health
h l h questions
i
b f
lli Apptical
A i l for
f an interview.
i
i
y E-Check – Drafts IMMEDIATELY for the initial premium. Ask your
client to confirm funds are in the account to avoid delays,
y , and if theyy
want subsequent drafts to occur on a specific day of the month you can
insert that date on page 2 of the application
y Policy
P li Date
D t is
i driven
di
off
ff issue
i
date
d t andd NOT date
d t off application.
li ti
y Don’t forget to send page 2 of the application when submitting to IA.
y All “No”
No answers on multiple applications is NOT GOOD because it
suggests that the agent did not spend adequate time with the health questions.
Read Your Agent Guide!!! It has all the ANSWERS!!
For Agent Use Only. Not For Public Distribution.
28
AGENT WEBSITE
www.everestfuneral.com/wfg--us
www.everestfuneral.com/wfg
Step
1
S
Submit
S b i an on-line
li contract with
i h IA American
A
i
Step 2
Everest Tool Kit
Everything you need to know about Everest
Step 3
Life Insurance Tool Kit
Everything you need to know about Advantage Products
Step 4
•
Training PowerPoint Presentation
•
Agent Guide located here
•
Online Quoting Tool plus Pre-Calculated Quoting Sheets
•
State-Specific Applications and Forms
•
And More
More…..
Instructions for Submitting Applications to IA American
For Agent Use Only. Not For Public Distribution.
29
IA Contact Information
y Underwriting: Agents should contact IA American directly
― 800.736.7311
800 736 7311
― Enter Prompts 1, 1, 1
― [email protected]
y Policyholder
P li h ld S
Service:
i Agents/Clients
A
/Cli
should
h ld contact IA A
American
i
di
directly
l
― 800.736.7311
― Enter Prompts 1, 1, 7
― [email protected]
y Submitting New Business:
― Fax directly to IA American at 254.297.2100
― Upload scanned applications - www.insuranceapplication.com/AppDrop
y General Product Questions - IA American Agent Hotline:
― 800.736.7311
― Enter Prompts 1, 1, 2
― [email protected]
For Agent Use Only. Not For Public Distribution.
30
Advantage
(Ages 00-49)
For Agent Use Only. Not For Public Distribution.
31
Pl Features
F
Plan
2 Options Depending on How Health Questions Are Answered
1. Immediate Death Benefit – pays 100% of face amount
immediately upon death
9 Maximum Coverage: $35,000 (Issue Ages 0-49)
2 R
2.
Return off Premium
P
i
(ROP) Death
D h Benefit:
B fi
9 Maximum Coverage $20,000 (Issue Ages 18-49)
y Return of Premiums paid
p plus
p 10% Annual Interest if
9 Pays
Death Occurs within the first 3 years (thereafter 100% of
Face Amount)
9 Pays 100% of Face Amount if Accidental Death
For Agent Use Only. Not For Public Distribution.
32
Advantage Underwriting
y No medical exams or blood work required
y You field underwrite the application
y Consult the Agent Guide for Build Chart, Impairment
Guide
G
id andd Medication
M di i G
Guide.
id
y Telephone Interview Required for ages 40 - 49 only
9 Complete
C
l at the
h P
Point-of-Sale
i
fS l
9 Translators available in multiple languages
9 IA reserves th
the right
i ht to
t order
d Interview
I t i on other
th ages
y Automatically Completed by IA Home Office:
¾ Medical Information Bureau (MIB)
¾ Pharmacy Database Check
For Agent Use Only. Not For Public Distribution.
33
Determining Eligibility
If the answer is “Yes” to any question above (1-6), then the applicant is not eligible for coverage.
For Agent Use Only. Not For Public Distribution.
34
Determining Eligibilit
Eligibility
If the answer is “Yes” to any question above (7-9), then the applicant is eligible for the ROP
Death Benefit only.
For Agent Use Only. Not For Public Distribution.
35
D
i i Eli
ibili
Determining
Eligibility
If ALL health q
questions 1-9 are answered
“No”,
the applicant should apply for the
Immediate Death Benefit.
For Agent Use Only. Not For Public Distribution.
36
Ad
Pl
Advantage
Plan Rid
Riders
g
Children’s Insurance Agreement
*
9Provides $3,000 per unit (max of 3 units) on
children until age 25 or Primary Insured is age 65.
65
9Convertible at a rate of up to 5 times the CIA
coverage.
9$8.50 per unit per year.
9Available on Primary Insured ages 15 to 49
9Available on children from age 15 days to 17 years.
* Not available with Return of Premium (ROP) Plan
For Agent Use Only. Not For Public Distribution.
37
Advantage
g
No--Cost Riders
No
y Terminal Illness Accelerated Benefit Rider:
9Can receive up to 100% of the death benefit when
insured has a life expectancy of 24 months or less.
y Accelerated Benefits Rider - Confined Care*:
9Full Time, Permanent Resident in Nursing Home
9Fixed Monthly Pmt of 5.0% of face amount
* Available only on the Immediate Death Benefit Plan. Not available in: CA, CT, DC, FL, or SD
For Agent Use Only. Not For Public Distribution.
38
For Agent Use Only. Not For Public Distribution.
39
For Agent Use Only. Not For Public Distribution.
40
For Agent Use Only. Not For Public Distribution.
41
For Agent Use Only. Not For Public Distribution.
42
3rd Party Payors
We do not accept Advantage applications when a 3rd Party
Payor is involved and the applicant is age 30 and over
y
―
―
―
y
Defined as a premium payor other than the primary insured, the
spouse, or a business or business partner
Examples would include brothers, sisters, in-laws, parents,
ggrandparents,
p
, aunts,, uncles,, and cousins
This rule does not apply on Advantage – 50 Plus (ages 50-85)
Why do we have our 3rd Party Payor rule?
―
―
―
Anti-selection
Adverse claims experience
Poor persistency
p
y
For Agent Use Only. Not For Public Distribution.
43
Submitting Applications
y Three Convenient Ways to Submit Applications
─ Attach Cover Page and Fax to (254) 297-2100.
297-2100
─ Use App Drop
Go to www.insuranceapplication.com/appdrop
pp
pp p and
upload a scan of your new business application.
─ Use the Mobile E-Application
pp
and submit new business
electronically.
For Agent Use Only. Not For Public Distribution.
44
Mobile E-Application
E Application
www.insuranceapplication.com/wfgmobile
y Features
─Ensures applications are in good order and eliminates incomplete
apps.
─Reduces
Rd
processing
i delays
d l
y Functionality
─The
The application is completed and signed electronically using your
finger or stylus
─Partially completed applications can be saved and returned to later
─Attach and send images of supplemental documents such as voided
checks.
─Transmit
T
it applications
li ti
with
ith the
th click
li k off a button
b tt
For Agent Use Only. Not For Public Distribution.
45
Mobile E-Application
E Application
www.insuranceapplication.com/wfgmobile
q
y Requirements
─ Designed for tablet use. Compatible with iOS, Android and
Windows operating systems. (not designed for laptops or PC’s)
─ Internet connection at the point of sale
y Getting
G ttin Started
St rt d
─Visit www.insuranceapplication.com/wfgmobile, go to the
New User link and register
g
within minutes.
─Bookmark the site on your device for future access
─Say “good bye” to paper!
For Agent Use Only. Not For Public Distribution.
46
Questions???
For Agent Use Only. Not For Public Distribution.
47