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LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Life Insurance for Life.

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Presentation on theme: "LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Life Insurance for Life."— Presentation transcript:

1 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Life Insurance for Life

2 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Death Insurance or Life Insurance for Life? Most life policies should be called “death” insurance. With the policies we offer through WRL, we can help protect a family through life’s unpredictable changes – we call it Life Insurance for Life! DEATH BENEFIT TERMINAL ILLNESS CRITICAL ILLNESS CHRONIC ILLNESS Living Benefits + = One Solution

3 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. What Can Happen to You? You may become Terminally or Critically Ill Stroke  Every 40 seconds someone suffers a stroke. 1 Heart Attack  Every 26 seconds someone suffers a heart attack. 2  45% of heart attack victims are under age 45. 3 Did You Know 3 out 4 people (75%) over the age of 40 will experience a critical illness at some point in their future. 4 TERMINAL ILLNESS CRITICAL ILLNESS 2 1. American Heart Association “Heart Disease and Stroke Statistics.”, http://www.amhrt.org 2010.”, http://www.amhrt.org 2. American Heart Association. “Heart Disease and Stroke Statistics,” LIMRA, 2007. 3. American Heart Association. “Heart Disease and Stoke Statistics.” 2007. 4. Center for Disease Control, 2009.

4 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Continued… Cancer  Every 30 seconds a new cancer is diagnosed in the U.S. 1  1 in 2 men and 1 in 3 women will be diagnosed with cancer in their lifetime. 1 Did You Know… 1990 to 2008, spending on cancer care soared to more than $90 Billion from $27 Billion. 2 One in four cancer patients or their families said they used up all or most of their savings to pay for treatment. 2 One in eight people with advanced cancer turned down recommended care because of cost. 2 TERMINAL ILLNESS CRITICAL ILLNESS 1. “Cancer Facts & The War on Cancer.” LIMRA, 2007. 2. USA Today, 3/18/2010 and 10/31/2008

5 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. What Can Happen to You? You may become Chronically Ill Chronic Illness affects many people and can create additional expenses for a family. Some of these expenses may include: Nursing Home Cost for a Private Room  For nursing home care, the national monthly average is now $6,266, which translates into $75,190 annually. 1 Assisted Living Facility  For assisted living facilities the national monthly average is now $3,185, which translates into $38,220 annually. 1 Home Health Aide (Certified)  For Home Heath Aide, the national monthly average is now $3,623, which translates into $43,472 annually. 1 CHRONIC ILLNESS 1 1. Cost of Care Maps Genworth 2010 Cost of Care Survey- 2010

6 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. The worst can happen. You may die too soon Almost 75% of Americans agree that life insurance is the best way to protect survivors against the financial implications of the premature death of a primary wage earner. 68 million (32%) of American adults are uninsured. Recommended from the government, not the insurance companies. After September 11, 2001, the U.S. Justice Department calculated compensation to meet the needs of families of victims from the terrorist attacks. The government recommended approximate payments of: 12 times income for couples with no children 20 times income for households with children DEATH 1 2 3 1. “America’s ‘Love-Hate’ Relationship with Life Insurance” LIMRA International. 2006. 2. LIMRA – Trends in Life Insurance Ownership, 2005 3. Explanation of the Process for Computing Economic Loss (Revised 2, 2002). Department of Justice, September 11 th Victim Compensation Fund of 2001, www.fbfs.com/fbfs/news/newsarticle.cfm

7 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Terminal Illness Accelerated Death Benefit Rider Terminal illness is determined by a condition resulting from injury or illness which, as determined by a physician, has reduced life expectancy to not more than 12 months (no more than 24 months in TX, GA, IL, MA, and WA). This rider allows the insured to access up to 100% (max of $500,000) of the policy’s death benefit in the event of a terminal illness

8 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Chronic Illness Accelerated Death Benefit Rider Chronically ill is being unable to perform 2 of 6 activities of daily living (bathing, continence, dressing, toileting, eating, and transferring) without assistance from another person or being cognitively impaired. 90 day waiting period Up to 2% of death benefit accessible per month Max lifetime benefit is 90% or $500,000 whichever is less The policy must be inforce for 2 years before benefits are available *The maximum total amount of lifetime benefits for an Insured under all Critical and Chronic Illness Benefit Riders is $500,000 Activities of Daily Living: Bathing Dressing Toileting Eating Continence Transferring

9 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Critical Illness Accelerated Death Benefit Rider Allows the insured to access his/her death benefit if they are critically ill Critical Illness includes diagnosis of cancer, heart attack, stroke, ALS, kidney failure, and major organ transplant Max lifetime benefit is 90% or $500,000 whichever is less *The maximum total amount of lifetime benefits for an Insured under all Critical and Chronic Illness Benefit Riders is $500,000

10 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. What normally happens when you suffer a Critical or Chronic Illness? 1.Income goes down 2.Expenses go up

11 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Income Vs Expenses Your Family’s Income Your Family’s Expenses Mortgage, Utilities, Food, Children… Time off Work Co-Pays Deductibles Recovery Time Additional Income From Living Benefits!!!

12 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. 48 - 48 - 62 What do these numbers mean? 1 Get Sick, Get Out: The Medical Causes of Home Foreclosures" H EALTH M ATRIX, 2009. 2. Critical Illness Insurance 101 by mark Goldstein, http://ezinearticles.com/?Critical-Illness-Insurance-101&id=4450375http://ezinearticles.com/?Critical-Illness-Insurance-101&id=4450375 3 The American Journal of Medicine, 2009. 48% of mortgage foreclosures are the result of financial hardship due to critical Illness (only 3% due to death). 1 48% of businesses that fail, fail because of a critical illness. 2 62% of bankruptcies are due to a critical illness. Of those bankruptcies, 75% of them had health insurance. 3

13 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. DEATH BENEFIT TERMINAL ILLNESS CRITICAL ILLNESS CHRONIC ILLNESS Life Insurance for Life ACCUMULATED CASH VALUE (UL policies only)

14 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. The OTHER Living Benefit Tax Free Retirement Cash Value Accumulation College Education Expenses Be Your Own Banker! *Tax-Free Retirement, Patrick Kelly © 2007 Distributions such as loans and withdrawals will reduce the Policy Value and death benefit and loans will be charged interest. If a policy lapses while a loan is outstanding, adverse tax consequences may result. If the Policy is treated as a modified endowment contract (MEC) by IRC Sec. 7702A, loans are taxable when taken to the extent of gain then in the contract. Loans and withdrawals from policy value may also be subject to a 10% federal income tax penalty if taken prior to age 591/2. Cash distributions associated with benefit reductions, including reductions caused by withdrawals during the first 15 years, may be taxable. Please consult your tax advisor regarding your particular situation. Loans, withdrawals and assignments are considered distributions. Please review your policy for additional details regarding loans and withdrawals.

15 LD36811 09/10 Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio. Alliance Solutions Advantage Term (Policy Form # ICC09 TL12 0709, TL12 0709) is a level term life insurance policy, Alliance Solutions UL (Policy Form #UL01 1005) is a universal life insurance policy, and Freedom Global IUL SM (Policy Form #IUL03 1208) is an index universal life insurance policy. All policies are issued by Western Reserve Life Assurance Co. of Ohio, Columbus, OH. Rider form numbers TI01 0305, CRN01 1005, and CRT01 1005. Policy and rider form numbers may vary, and these products may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In most states, an exception for life insurance coverage is suicide while sane or insane during the firs two years the coverage is in force. In the event of suicide, the Company’s liability may be limited to only the return of premiums paid. In Missouri, suicide is no defense to payment of benefits unless the Company can show the insured intended suicide when he/she applied/enrolled for coverage. Depending on the state of issue your policy may be an individual Policy or a certificate issued under a group Policy. The Policy is subject to the insurance laws and regulations of each state or jurisdiction in which it is available for distribution. All state specific Policy features will be described in your policy.


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