Assurity Life Insurance Company
presents
Critical Illness
Insurance
Policy Form Nos. I H0810 or CI 005, and I H0820 or CI 007.
Product and rider availability, features and rates may vary by state.
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An Unusual Beginning
“You need a critical illness
insurance policy not because you
are going to die, but because you
are going to survive.”
- Dr. Marius Barnard
Influence of the Doctor’s Design
• You, the insured person, suffer a critical
illness or undergo a procedure that
meets the terms of the insurance policy.
• The insurance company pays you the
benefit.
• You decide how the money can best
help you.
Who Do You Know…
who has been diagnosed with
heart attack, cancer or stroke?
Did any of them plan on getting a critical illness?
“The Big Three”
Cancer
Every 21 seconds, someone in the U.S.
is diagnosed with cancer. 1
Heart Attack
Every 25 seconds, someone in the U.S.
will have a coronary event. 2
Stroke
Every 40 seconds, someone in the U.S.
suffers a stroke. 2
1
Heart Disease and Stroke Statistics – 2010 Update, American Heart Association
Facts and Figures, American Cancer Society, 2010
2 Cancer
Insured… or Uninsured?
There are two types of:
• break-ins / thefts
• health emergencies while traveling
Insured and Uninsured!
There are also two types of:
heart attacks,
strokes
and cancer diagnoses!
Critical Illness Why would I buy it
if I have health insurance?
Surviving Has a Price
Indirect expenses add up!
•
Loss of income for self and/or spouse
•
Home modifications
•
Experimental treatment
•
Child care and domestic assistance
•
Transportation and lodging for family
members and caregivers during
treatment
Health Insurance Coverage
• Brakes plus an airbag
 Should there be significantly more relief, less deductibles,
co-pays and maximums if it’s cancer?
• Consider raising your deductibles
 Funded by critical illness insurance, if a covered illness or
condition.
• Remember the COMFORTS
 Spouse’s time off, hotel during treatment, plane tickets,
nanny, etc.
Life Insurance - Why?
• If a major illness or accident were to take your
life, you would want to insure your family, right?
• What if it did not take your life? Would you have
a different goal?
• You may be around to see the outcome…
Life Insurance: Goal?
• Why did you buy life insurance?
 Not because you thought you would need it
• Because it would have been
irresponsible or burdensome not to
have it
What’s More Common?
• What’s more likely to happen…
 You die prematurely?
 You are diagnosed with a major illness?
Chances of Death vs.
Disability vs. Critical Illness
Probability of a claim for critical illness, disability for
180+ days, or death prior to age 65
Critical illness claim
Disability
claim
for 180+ days
Death claim
Male
Female
Unisex
Male
Female
Age 30
30%
25%
19%
9%
7%
Age 35
29%
24%
19%
9%
7%
Age 40
28%
23%
18%
9%
7%
Age 45
25%
21%
17%
7%
6%
Age 50
20%
16%
16%
5%
4%
Age 55
13%
10%
13%
4%
3%
Source: Canada Life, 2001
If you were
diagnosed with cancer,
would it reduce your stress
if your mortgage would be
paid for the next two years?
What Would Your Banker Do?
…If he heard you were
diagnosed with cancer?
 Double your line of credit?
 Be totally unconcerned?
About Assurity
• 120-year legacy—three Lincoln, Neb.-based
insurance companies dating back to the 1890s
• A- (Excellent) rating from A.M. Best Company*
• More than $2.4 billion in assets under
management
*The fourth highest of 16 A.M. Best ratings for financial strength.
Assurity’s Critical Illness Insurance
Assurity offers two policies:
• Simplified Critical Illness
• Fully Underwritten
Critical Illness
Simplified Critical Illness Basics
•
•
•
•
•
Issue ages: 18 to 64*
$5,000 to $50,000 in benefits available
12 critical illnesses and conditions covered
Guaranteed renewable to age 75
Optional riders include:
–
–
–
–
–
Disability Waiver of Premium Rider
Accidental Death Benefit Rider
Spouse Critical Illness Benefits Rider
Children’s Critical Illness Benefits Rider
Return of Premium Rider
* To age 59 in some states.
Policy form No. I H0810 or CI 005. Policy and rider availability, rates and features may vary by state.
(R 9/12)
Simplified
Critical
Illness
12 covered
conditions
Fully Underwritten
Critical Illness Basics
•
•
•
•
•
Issue ages: 18 to 64
$50,000 to $500,000 in benefits available
21 conditions covered
Guaranteed renewable for life
Optional riders include:
–Disability Waiver of Premium Rider
–Accidental Death Benefit Rider
–Spouse Critical Illness Benefits Rider
–Children’s Critical Illness Benefits Rider
Policy form No. I H0820 or CI 007. Policy and rider availability, rates and features may vary by state.
Fully
Underwritten
Critical Illness
21 covered
conditions
Policy Differences
Simplified CI
•
•
•
•
•
•
Fully Underwritten CI
12 covered conditions
•
Up to $50,000 in coverage
•
Shorter application
•
No required medical exams;
•
only a few health questions
•
Guaranteed renewable to age 75
Four-day service guarantee to issue
policy
21 covered conditions
Up to $500,000 in coverage
Longer application
Fully underwritten
Guaranteed renewable for life
Assurity offers two products so you
receive the coverage you need.
Return of Premium Upon Death
If you die while your CI policy is in force, your
beneficiary will receive:
•
100% of the premiums paid minus any
benefits previously received, if you die of
any cause.
These people had critical illness
insurance when they needed it!
Assurity’s actual CI cases
Occupation
Gender, Age
Critical Illness
Diagnosed
Nasal cancer
Months
Policy in
Force
5
Benefit
Amount
Paid
$37,500
Lawn service owner
Male, 28
Optometrist
Female, 45
Breast cancer
21
$225,000
Service staff, medical
office
Female, 34
Coma
18
$50,000
Maintenance director
Male, 36
Melanoma
40
$10,000
Consultant
Male, 49
Lymphoma
10
$75,000
Business owner
Female, 44
Bladder cancer
3
$9,000
Potter
Female, 46
Lung cancer
48
$20,000
CEO, manufacturing
Male, 36
Stroke
19
$50,000
Part-time clerk
Female, 61
Breast cancer
30
$7,000
Self employed
Male, 48
Stroke
8
$5,000
Minister
Male, 54
Heart attack
5
$5,000
Ask Yourself Four Questions
• Who do you know…?
• Was it unexpected?
• Was there unplanned
emotional or financial strain
on the household/ business?
•
Would cash have helped?
Why am I so
passionate about
critical illness insurance?
Questions?
Policies and riders contain reductions of coverage, limitations and
exclusions. For details, contact your agent/producer, Assurity Life
Insurance Company or ask to review the policy.
Policy Form Nos. I H0810 or CI 005, and I H0820 or CI 007.
Product and rider availability, features and rates may vary by state.
15-467-02251 (8/13)
27 of 27 (Presentation only valid with all slides)