2“At last - a term life insurance product worth selling ” Value Select Product Positioning“At last - a term life insurance product worth selling ”AgentsValue Select allows the agent to earn better than average income with the addition of unique customer focused rider benefits.Value Select several underwriting health categories rewarding a client’s health status.ConsumersValue Select term provides affordable high face value term insurance for families and businesses.Value Select term provides benefits when your client needs them and return of premium if they don’t.
3Value Select TermCompetitive rates – fully guaranteed for the entire termReturn of Premium and Disability Income RidersHigh 1st year commissionsRenewal commissions- up to 10 yearsShort form applicationAge nearest birthdayFour preferred classesExcellent smoker ratesNo blood through $250k age 50Non-Commissionable policy fee
4Value Select Policy Design 15, 20, or 30-year term$250,000 minimum face amountRates guaranteed for full termFour preferred categoriesConvertible on or before tenth policy anniversary to ULIssue ages (age last birthday)FullyGuaranteed15-year plan20-year plan30-year plan Non-Tobacco Tobacco
5Value Select Policy Design cont. $60 policy fee, non-commissionable, no additional policy fee for up to three insuredsTwo Premium Bands$250,000 - $499,999$500,000 and upTremendous selection of ridersMoney back return of premium riderOther insured rider (up to 3 per policy with only one policy fee)Disability protection riderWaiver of PremiumAccelerated Death Benefit
6Value Select Simple Underwriting Short simple application for quicker turnaround timeNo Blood through age 50 & 250KEasier for your clientFour underwriting bands – Super Preferred ($500K Min Face), Preferred Plus, Preferred and Standard
7Value Select - Get Paid Faster Less than 30 days turnaround on fully underwritten applicationsEasy to manage pending reports - SalesLinkWeekly EFT availableAnd Let’s talk commissions…High First Year RateANDRenewals up to 10 Years
8Value Select Riders Disability Protection Rider Maximum monthly benefit is the lesser of:$3,000 monthly or66 2/3% of monthly payTotal disability is defined as inability to substantially perform in the usual and customary way the essential duties of “any occupation” for which the insured may qualify by reason of education, training or experienceMust be added at issue only90 day wait 2 year benefit
9Other Insured RiderUsing this rider - up to 4 people can be insured under the same policy.Ideal for business - allows policyowner to add or drop insureds as needed.The death of one insured does not affect coverage for the others.Face amounts may vary by individual.Available for all term periods.
10Children’s Level Term Life Rider One premium is charged for all covered childrenIssue ages: 15 days through 18 years of age; age last birthdayMinimum/ maximum: $5,000/ $10,000; available in increments of $1,000If primary insured dies while this rider is in effect; each child will receive a paid- up term life policy to age 25.Convertible to age 25.
11Accelerated Benefit Rider If client is diagnosed with a terminal illness, they can receive up to 50% of the policy death benefit, up to a maximum of $250,000Must be elected at policy issue.No Premium charge.One time administrative fee of $350 at time of claim.
12Value Select RidersMoney Back RiderConcept:Coverage for your client if they need it…return of premium if they don’t!Available at issue onlyTypically increases the premium by 30% on the 30- year term, by 90% on the 20-year term, and by 144% in the 15- year termIS IT A GOOD DEAL FOR YOUR CLIENT?
13Value Select Riders Money Back Rider Let’s assume the following: Male / Age 45 / Pref. Non-tobacco / $500,000Value Select Term $500,000 w/o Return of Premium =$Value Select Term $500,000 w/ Return of Premium =$Increased cost to provide guaranteed Return of Premium =$570.00Additional $ generates a guaranteed refund ofpremium of $78,150 at the end of 30 years.The net result...
14Net after-tax guaranteed equivalent over 30 years Value Select RidersMoney Back Rider8.59%Net after-tax guaranteed equivalent over 30 years
15Value Select Riders Money Back Rider Full money back is paid if the policy is kept in force to the end of the term periodNo money back is paid for lapses in the first 5 policy yearsPartial money back is available for lapses after 5 policy years, in the following percentages of premiums paid:
16Value Select BenefitsWhat is better than a fully guaranteed 30 year term life insurance product?
17Value Select BenefitsA 30 year term life insurance product from F&G Life with a return of premium rider!
18Summary and Conclusions F&G Life has designed Value Select to aggressively compete in the “neglected” brokerage term marketValue Select exemplifies F&G Life’s commitment to niche market opportunitiesValue Select delivers distinct benefits to your clientsAgents now have a product that they can afford to sell with less hassle for you & your customer
19Saver’s Select…..Simply “Benefits for your clients if they need them…return of premium if they don’t”