Your opportunity The underinsured 1 Selling Old school vs client expectations today 2 What are you going to recommend 3 What it means for your business 4 For advisor use only ID: 729740
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Slide1
Layers of Life Slide2
Let’s talk about…
Your
opportunity:
The underinsured
1
Selling: Old school vs. client expectations today
2
What are you going to recommend?
3
What it means for your business
4
For advisor use onlySlide3
Opportunity.
It’s “always on my mind…”
There’s a lot of people to talk to!
*LIMRA 2013 ownership study 2012**LIMRA Canadian Life insurance Ownership: Household trends 2013 and 2016 Canadian CI Participants Report 78% of Canadians are concerned about living costs if they became ill**1 in 3 Canadians have determined they need more life coverage*
20,000,000 Canadians don’t have coverage outside of their group plan
0nly 43% of Canadians own individual coverageSlide4
Old school selling
Economy,
value or luxury? Choose one.
Advisors used to ask…“Which one would you like to start with? Choose one. We can move up as we go. Then let’s meet about that other need.”ECONOMYVALUEFully funded Permanent
Term 10
Term 20 or minimum cost “Permanent”
LUXURYSlide5
Clients expectations today
Personalized soft drinks
Personalized sneakers
Personalized socksPersonalized childrens’ booksPersonalized Thomas trainsThey’re used to getting what they want…exactly how they want itGIVE THEM A PERSONALIZED SOLUTION WITHOne meetingOne applicationOne processSlide6
My Insurance View
It’s more than math. It helps start the conversation.
Provides a personal layered insurance solution for each client based on their specific needs
and into the futuretoday…Slide7
Personalize with My Insurance View
Provide clients with easy-to-understand illustrated graphs of their personalized insurance needs
Allow them to adjust their amounts and share their results via email, or download and print
By answering a series of simple questions, this tool will:Slide8
You know the need, now offer the solution
What are you going to recommend?
Term coverages with different
durations to meet short term and longer term needs
Base of UL so your clients achieve permanent coverage while covering short term and medium term needsSlide9
Let’s talk about...combined banding
For
TermSelect
and ivari universal:Combined banding means that the cost of each coverage for an insured will be reduced by adding insurance coverages through additional term coverages or UL coverages.Note: Above premiums do not include policy fee
Savings of $
156.60 or 14% annually.Added savings from one policy fee!ProductFace amount
Premium when purchased separately
Premium when purchased togetherT10
400k
380.16328.32
T20
400k
544.32
501.12
T30
50k
191.76
130.14
Total
850k
1,116.24
959.58
Male, Non-smoker, Age 40, Standard, annualized monthly
premiums
ExampleSlide10
Let’s talk about…ivari Universal
Add or remove coverages as you go, and build up a premium reserve
with a foundation of UL.
UL foundation with cash value growthTerm 10/20/30 top up debt and income replacement Critical Illness Protection rider
Cash value access with Living Benefits
ADVANCED MEDICALSlide11
Let’s talk about…layering
Using a combination of Term riders and UL coverages gives access to additional discounts
Note: Premiums do not include policy fee.
ProductFace amount
Premium when
purchased separatelyPremium when purchased togetherT10
400k
380.16264.00T20
400k
544.32483.96
T30
50k
191.76
129.96
Subtotal
850k
1,116.24
877.92
LCOI
25k
311.52
216.00
Grand Total
875k
1,427.76
1,093.92
Layering increases the savings on the term
portion from
$
156.60
to
$238.32
Total savings on the policy $
333.84
or
23%
annually!Slide12
Let’s talk about…
getting more value from
Layering
Note: Premiums do not include policy fee.Compare a TermSelect20 policy to the bundled policy consisting of 25k LCOI, 400k T10, 400k T20 and 50k T30Example
TermSelect
20
ivari
Layered policy
% cost savings
Face amount
Premium
Total premium paid
Face amount
Premium
Total premium paid
At issue
875k
1,096
1,096
875k
1,094
1,094
0%
Year 20
875k
1,096
21,924
475k
900
19,939
9%
A Layered policy is less expensive over a 20-year period
and carries all the benefits of UL permanent insurance.Slide13
Critical Illness Protection
Our Critical Illness Protection insurance can be purchased as a rider or as a standalone product.
As a rider:
More comprehensive protection than life insurance alone can offerAn average savings of up to 15%* when compared to purchasing standalone critical illness coverageAvailable on Term 10, Term 20, Term 65For a broader spectrum of coverage*Based on a 25-condition policy with an average critical illness benefit amount of $80,000.Slide14
Keep the conversation going...
Easily share marketing pieces with your clients electronically.
Download the “ivari-Brokerage” app on the Apple App Store or on Google Play.
Be sure to accept any notification alerts to keep up to date!Slide15
A
Use the ivari CI Prep Sheet
For a deeper conversation on CI. Available on the mobile app.
USE OUR CI PREP SHEET:
4 KEY QUESTIONS TO ASK
4 KEY OBJECTIONS TO ANSWER
Q
Q
ASlide16
Social Share
Share articles and product information through your social media
Categories:Slide17
At Delivery
Revisit the Need
“Reason Why”
Set your next meetingSlide18
My Investment Profile tool
My Investment profile asks
10 simple questions
to help assess your client’s financial situation, their investment risk tolerance, investment timeframes, and future goalsEach answer is assigned a value that is totaled upon completion to provide an investment profileHelp clients make the most of their ivari universal life policy.ivari.ca/myinvestmentprofile/
Try it and Share!
NEW!Slide19
Contact your local ivari Sales Director or Sales Associate for more information on how we can help you grow your business
Or contact us sales@ivari.ca
We’re always at your service
Get involved in the ivari Value Added Sessions available through your MGANow…talk to us
To learn more about ivari, visit us online at ivari.caSlide20
Questions?Slide21
This presentation is for advisor use only
This communication is published by ivari with material obtained from a number of third-party sources and is intended for advisor use only.
Any information contained in this presentation is intended for general information purposes only and should not be considered specific or personal investment, insurance, estate planning, legal or tax advice or a solicitation to purchase insurance. While reasonable efforts have been made to ensure that the contents of this presentation have been derived from sources believed to be reliable and accurate at the time of publication, ivari does not warrant the accuracy or completeness of the information contained herein.
Examples given in this presentation are for illustration purposes only. The specific facts and circumstances of each case will differ from client to client. Neither ivari, nor its affiliates, officers, employees or any other person accepts any liability whatsoever for any direct, indirect or consequential loss arising from any use or reliance on the information, general strategies or opinions contained herein. No one should act upon the information or examples without a thorough examination of their legal and tax situation with their own professional advisors based on the facts of their specific case.TM ivari and the ivari logos are trademarks of ivari Holdings ULC. ivari is licensed to use such marks. Slide22
Thank you!