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Fidelity & Guaranty Life Insurance Company 1 Value Select Term SM.

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Presentation on theme: "Fidelity & Guaranty Life Insurance Company 1 Value Select Term SM."— Presentation transcript:

1 Fidelity & Guaranty Life Insurance Company 1 Value Select Term SM

2 Fidelity & Guaranty Life Insurance Company 2 At last - a term life insurance product worth selling Consumers Value 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 dont. Agents Value 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 clients health status. Value Select Product Positioning

3 Fidelity & Guaranty Life Insurance Company 3 Competitive rates – fully guaranteed for the entire term Competitive rates – fully guaranteed for the entire term Return of Premium and Disability Income Riders Return of Premium and Disability Income Riders High 1st year commissions High 1st year commissions Renewal commissions- up to 10 years Renewal commissions- up to 10 years Short form application Short form application Age nearest birthday Age nearest birthday Four preferred classes Four preferred classes Excellent smoker rates Excellent smoker rates No blood through $250k age 50 No blood through $250k age 50 Non-Commissionable policy fee Non-Commissionable policy fee Value Select Term

4 Fidelity & Guaranty Life Insurance Company 4 15, 20, or 30-year term 15, 20, or 30-year term $250,000 minimum face amount $250,000 minimum face amount Rates guaranteed for full term Rates guaranteed for full term Four preferred categories Four preferred categories Convertible on or before tenth policy anniversary to UL Convertible on or before tenth policy anniversary to UL Issue ages (age last birthday) Issue ages (age last birthday) Fully FullyGuaranteed 15-year plan year plan year plan Non-Tobacco Tobacco Value Select Policy Design

5 Fidelity & Guaranty Life Insurance Company 5 $60 policy fee, non-commissionable, no additional policy fee for up to three insureds $60 policy fee, non-commissionable, no additional policy fee for up to three insureds Two Premium Bands Two Premium Bands $250,000-$499,999 $500,000 and up Tremendous selection of riders Money back return of premium rider Money back return of premium rider Other insured rider (up to 3 per policy with only one policy fee) Other insured rider (up to 3 per policy with only one policy fee) Disability protection rider Disability protection rider Waiver of Premium Waiver of Premium Accelerated Death Benefit Accelerated Death Benefit Value Select Policy Design cont.

6 Fidelity & Guaranty Life Insurance Company 6 Short simple application for quicker turnaround time Short simple application for quicker turnaround time No Blood through age 50 & 250K No Blood through age 50 & 250K Easier for your client Easier for your client Four underwriting bands – Super Preferred ($500K Min Face), Preferred Plus, Preferred and Standard Four underwriting bands – Super Preferred ($500K Min Face), Preferred Plus, Preferred and Standard Value Select Simple Underwriting

7 Fidelity & Guaranty Life Insurance Company 7 Less than 30 days turnaround on fully underwritten applications Less than 30 days turnaround on fully underwritten applications Easy to manage pending reports - SalesLink Easy to manage pending reports - SalesLink Weekly EFT available Weekly EFT available And Lets talk commissions… High First Year Rate High First Year RateAND Renewals up to 10 Years Value Select - Get Paid Faster

8 Fidelity & Guaranty Life Insurance Company 8 Maximum monthly benefit is the lesser of: Maximum monthly benefit is the lesser of: $3,000 monthly or $3,000 monthly or 66 2/3% of monthly pay 66 2/3% of monthly pay Total 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 experience Total 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 experience Must be added at issue only Must be added at issue only 90 day wait 2 year benefit 90 day wait 2 year benefit Disability Protection Rider Value Select Riders

9 Fidelity & Guaranty Life Insurance Company 9 Using this rider - up to 4 people can be insured under the same policy. Using 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. Ideal for business - allows policyowner to add or drop insureds as needed. The death of one insured does not affect coverage for the others. The death of one insured does not affect coverage for the others. Face amounts may vary by individual. Face amounts may vary by individual. Available for all term periods. Available for all term periods. Other Insured Rider

10 Fidelity & Guaranty Life Insurance Company 10 One premium is charged for all covered children One premium is charged for all covered children Issue ages: 15 days through 18 years of age; age last birthday Issue ages: 15 days through 18 years of age; age last birthday Minimum/ maximum: $5,000/ $10,000; available in increments of $1,000 Minimum/ maximum: $5,000/ $10,000; available in increments of $1,000 If primary insured dies while this rider is in effect; each child will receive a paid- up term life policy to age 25. If 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. Convertible to age 25. Childrens Level Term Life Rider

11 Fidelity & Guaranty Life Insurance Company 11 If client is diagnosed with a terminal illness, they can receive up to 50% of the policy death benefit, up to a maximum of $250,000 If client is diagnosed with a terminal illness, they can receive up to 50% of the policy death benefit, up to a maximum of $250,000 Must be elected at policy issue. Must be elected at policy issue. No Premium charge. No Premium charge. One time administrative fee of $350 at time of claim. One time administrative fee of $350 at time of claim. Accelerated Benefit Rider

12 Fidelity & Guaranty Life Insurance Company 12 Concept: Concept: Coverage for your client if they need it…return of premium if they dont! Available at issue only Available at issue only Typically increases the premium by 30% on the 30- year term, by 90% on the 20-year term, and by 144% in the 15- year term Typically increases the premium by 30% on the 30- year term, by 90% on the 20-year term, and by 144% in the 15- year term IS IT A GOOD DEAL FOR YOUR CLIENT? IS IT A GOOD DEAL FOR YOUR CLIENT? Money Back Rider Value Select Riders

13 Fidelity & Guaranty Life Insurance Company 13 Lets assume the following: Lets assume the following: Male / Age 45 / Pref. Non-tobacco / $500,000 Male / Age 45 / Pref. Non-tobacco / $500,000 Value 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 = $ Additional $ generates a guaranteed refund of premium of $78,150 at the end of 30 years. The net result... Money Back Rider Value Select Riders

14 Fidelity & Guaranty Life Insurance Company % Net after-tax guaranteed equivalent over 30 years Money Back Rider Value Select Riders

15 Fidelity & Guaranty Life Insurance Company 15 Full money back is paid if the policy is kept in force to the end of the term period Full money back is paid if the policy is kept in force to the end of the term period No money back is paid for lapses in the first 5 policy years No money back is paid for lapses in the first 5 policy years Partial money back is available for lapses after 5 policy years, in the following percentages of premiums paid: Partial money back is available for lapses after 5 policy years, in the following percentages of premiums paid: Money Back Rider Value Select Riders

16 Fidelity & Guaranty Life Insurance Company 16 What is better than a fully guaranteed 30 year term life insurance product? Value Select Benefits

17 Fidelity & Guaranty Life Insurance Company 17 A 30 year term life insurance product from F&G Life with a return of premium rider! Value Select Benefits

18 Fidelity & Guaranty Life Insurance Company 18 F&G Life has designed Value Select to aggressively compete in the neglected brokerage term market F&G Life has designed Value Select to aggressively compete in the neglected brokerage term market Value Select exemplifies F&G Lifes commitment to niche market opportunities Value Select exemplifies F&G Lifes commitment to niche market opportunities Value Select delivers distinct benefits to your clients Value Select delivers distinct benefits to your clients Agents now have a product that they can afford to sell with less hassle for you & your customer Agents now have a product that they can afford to sell with less hassle for you & your customer Summary and Conclusions

19 Fidelity & Guaranty Life Insurance Company 19 Benefits for your clients if they need them…return of premium if they dont Savers Select…..Simply

20 Fidelity & Guaranty Life Insurance Company 20 Value Select Marketing Materials

21 Fidelity & Guaranty Life Insurance Company 21 Value Select Administrative Forms


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