Shelden Smollan Director of Wholesale and Specialty Products Spring 2014 Insurance Supermarket Inc ISI is a Canadian National Financial Brokerage We provide a full spectrum of personal protection and investment products to serve the needs of our clients ID: 934066
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Slide1
It’s Déjà Vu All Over Again
Shelden SmollanDirector of Wholesale and Specialty ProductsSpring 2014
Slide2Slide3Slide4Slide5Slide6Slide7Insurance Supermarket Inc. (ISI) is a Canadian National Financial Brokerage. We provide a full spectrum of personal protection and investment products to serve the needs of our clients.
ISI is also dedicated to providing prospecting opportunities (FACE TO FACE) to our network of qualified agents. In pioneering a centralized marketing system we are able to connect prospects in all provinces with local agents in their area. Shared Commission Only.
Slide8ISI has developed trusted relationships with a comprehensive list of leading Canadian insurance providers.
ISI added over 500 brokers in 2013, that sold over 9300 policies from over 39,000 appointments that were provided to them.
Slide9iApplication
– Propietary application submission platformCurrent carriers –BMO, Empire, La Capitale, Wawanesa, Industrial Alliance, SSQ, and coming Assumption, Transamerica
Slide10Simplified Issue Life Insurance
No medicalNo fluidsNo APS
Slide11Customer Profile
Wants Coverage Fast Doesn’t Like NeedlesWants To Maintain Privacy“White Coat Syndrome”May Have Medical IssuesEasier to Qualify – Fewer Underwriting RequirementsPre-Underwriting
Coverage
Slide12Underwriting Issues
Build
DiabetesDUI / Driving recordDrug or alcohol abuse
Foreign Travel
Depression / Anxiety
MS / Parkinson
Blood Pressure
Cholesterol
Family health history
C
onditions making
it hard
to
get
coverage
Do you know anyone affected
by one or more of these issues
?
Simplified
issue life insurance
is a solution.
Slide13Product features
Slide14Terms available :
Simplified issue – no medical exam, no blood testsCoverage
is
immediate
as
soon
as the
policy
is
issued
.
Non-participating term insurance
Guaranteed
level
premiums
Available as an individual policy or as a rider on:
InstaTerm
or
InstaTerm
Deferred.
Golden Protection, Golden Protection Deferred or Golden Protection Plus on the same insured (maximum of 1 rider) or on a person other than the insured under the policy.
Slide15Minimum coverage : $50,000 or $20 per month
Maximum coverage : $150,000The sum of all InstaTerm
, Golden Protection, Golden Protection Deferred, Golden Protection Plus and Total Protection policies for a single insured cannot exceed $200,000
.
Automatic renewal until the policy or rider anniversary nearest the insured
’
s
90
th
birthday
.
Rates available for Smoker and Non-Smoker.
Slide16Issue
age: 20 to 70 Annual
fees
: $80
policy
, $60 rider
Conversion to Golden Protection
Coversion
privilege is available if requested:
after the first
InstaTerm
policy anniversary; and
the insured
is at least 40.
If only part of the sum insured is converted, the policyholder may keep the balance in force, if the remaining sum insured is at least $50,000.
The sum of all Golden Protection, Golden Protection Deferred, Golden Protection Plus and Total Protection
coverages
for a single insured cannot exceed $50,000.
Slide17Terms
available :
Simplified issue – no medical exam, no blood testsNon-participating
term
product
Guaranteed
level
premiums.
The death benefit is deferred for the first two years.
Available as an individual policy or as a rider on:
InstaTerm
or
InstaTerm
Deferred if the insured is a person other than the insured under the policy.
Golden Protection, Golden Protection Deferred or Golden Protection Plus on the same insured (maximum of 1 rider) or on a person other than the insured under the policy .
Slide18Minimum coverage : $50,000 or $20 per month
Maximum coverage : $100,000The sum of all
InstaTerm, Golden Protection, Golden Protection Deferred, Golden Protection Plus and Total Protection policies for a single insured cannot exceed $150,000.
Non-renewable
Non-convertible
Issue
age
: 20 to 70
Annual
fees
: $80
policy
, $60 rider
Slide19Deferred
protection If death is non-accidental
and occurs before the 2nd
anniversary of the policy, the death benefit is equal to the sum of premiums plus interest of 3%.
The death benefit is equal to the sum insured:
After
the 2
nd
anniversary of the policy;
or if
death is accidental and occurs in the first 2 years of the policy.
Slide20Living
Benefitthe policyholder qualifies for 50% of the sum insured, if the insured’s doctor says the insured will not survive the next 12
months must occur after the 2nd
anniversary of the policy,
Transportation
Benefit
$2,000 will be paid, if death occurs over 200 km away from the insured
’
s primary residence.
Payable only after the 2
nd
anniversary of the policy.
Benefits
Slide21Other benefits available
Accidental Fracture Plus, Child Insurance Rider, and/or Accidental Death.
Child Insurance Rider
Accidental Death
Accidental Fracture Plus
Slide22Questions 1 to 11 –
InstaTerm
Deferred
and
InstaTerm
Questions 12 to 27 –
InstaTerm
All
questions must
be
answered
No
in
order
to
submit
the application
Qualification
Slide23Competive
Premium Comparison
Plan
Age
Sex
Coverage
Amount
Monthly
Cost
T-20
Monthly
Cost
T-10
InstaTerm
30
M
$100,000
$24.75
$24.75
InstaTerm
Deferred
30
M
$100,000
$29.61
$29.61
InstaTerm
40
M
$100,000
$30.15
$28.71
InstaTerm
Deferred
40
M
$100,000
$37.71
$37.53
InstaTerm
45
M
$100,000
$39.24
$32.58
InstaTerm
Deferred
45
M
$100,000
$59.94
$51.03
InstaTerm
60
M
$100,000
$164.16
$112.50
InstaTerm
Deferred
60
M
$100,000
$247.50
$195.93
Slide24Med Questions
1.
In the
last 90 days
, have you been hospitalized, in a nursing facility, bedridden or confined to a wheelchair?
2.
In the
past three (3) years
, have you had an amputation as a result of disease?
3.
In the
past
three (3) years
have you been diagnosed, hospitalized, or treated (other than by medication) for any of the following conditions:
a. Angina, heart attack, heart failure or cardiomyopathy?
b. Cancer (other than basal cell carcinoma)?
c. Leukemia?
d. Chronic kidney disease?
e. Aneurysm?
4.
In the
past
three (3) years
, have you been prescribed a new medication or required a change in dosage in your medication for any of the following conditions: angina, heart attack, heart failure, cardiomyopathy, cancer (other than basal cell carcinoma), leukemia , chronic kidney disease?
5.
In the
past three (3) years
, have you been diagnosed or hospitalized for:
a. Chronic respiratory condition that required the administration of oxygen?
b. Liver disease (other than fatty liver)?
c. Diabetic coma or insulin shock?
d. Cerebrovascular accident (stroke)?
Slide25Med Questions
6.
In the
past five (5) years
have you received an organ transplant or a bone marrow transplant or were you advised that one was required due to your condition?
7.
In the
past five (5) years
have you been diagnosed, hospitalized, or undergone treatments (including medication) for HIV, AIDS or AIDS-related complex?
8.
Have you ever been diagnosed or treated (including medication) for any of the following conditions: amyotrophic lateral sclerosis (Lou Gehrig's disease), Alzheimer
’
s disease or dementia?
9.
Have you been diagnosed or treated for any incurable terminal illness (for which you have been advised that you have less than 12 months
’
life expectancy)?
10.
Are you aware of any symptoms for which you have not yet consulted a physician or received treatment, or for which you consulted a physician without having received a diagnosis?
11.
Does your weight exceed the weight corresponding to your height in the following table?
Slide26Build
Chart
Height
Weight
Height
Weight
Height
Weight
Ft/in
cm
lb
kg
Ft/in
cm
lb
kg
Ft/in
cm
lb
kg
4
’
10
’’
147
158
72
5
’
6
’’
168
205
93
6
’
2
’’
188
256
116
4
’
11
’’
150
163
74
5
’
7
’’
170
210
95
6
’
3
’’
191
264
120
5
’
0
’’
152
169
77
5
’
8
’’
173
216
98
6
’
4
’’
193
271
123
5
’
1
’’
155
174
79
5
’
9
’’
175
224
102
6
’
5
’’
196
277
126
5
’
2
’’
157
182
83
5
’
10
’’
178
229
104
6
’
6
’’
198
285
129
5
’
3
’’
160
188
85
5
’
11
’’
180
235
107
6
’
7
’’
201
293
133
5
’
4
’’
163
193
88
6
’
0
’’
183
242
110
6
’
8
’’
203
299
136
5
’
5
’’
165
198
90
6
’
1
’’
185
250
114
6
’
9
’’
206
308
140
Slide27Med Questions
12.
In the
past three (3) months
, have you required a new medication for high blood pressure or did you require an increase in the dosage of any medication for high blood pressure
?
13.
Has your weight changed by more than 18.14 kg (40 lbs) in
the past year
?
14.
In the
past twelve (12) months
, have you been hospitalized or did you require more than six (6) months off work or are you currently off work for depression or any emotional, behavioral, psychological or nervous disorder
.
15.
In the
past two (2) years
, have you had an application for life insurance (other than group insurance or group mortgage insurance) rejected or postponed
?
16.
In the
past three (3) years
have you required hospitalization for:
transient ischemic attack (TIA or mini-stroke), chest pain, arrhythmia or diabetes
?
17.
In the
past five (5) years
, have you been diagnosed or started treatment for: convulsions, epilepsy, multiple sclerosis, degenerative disease or heart disease
?
18.
In the
past
five (5) years
have you been diagnosed, hospitalized, or treated (other than by medication) for any of the following conditions
:
a. Angina, heart attack, heart failure, or
cardiomyopathy
?
b. Cancer (other than basal cell carcinoma)?
c. Leukemia?
d. Chronic kidney disease?
e. Aneurysm
?
Slide28Med Questions
19.
In the
past five (5) years
, have you been prescribed a new medication or required a change in dosage in your medication for any of the following conditions: angina, heart attack, heart failure, cardiomyopathy, cancer (other than basal cell carcinoma), leukemia, chronic kidney disease?
20.
In the
past five (5) years
, have you been diagnosed or hospitalized for:
a. Liver disease other than fatty liver?
b. Cerebrovascular accident (stroke)?
21.
In the
past five (5) years
, have you required the administration of oxygen for any chronic respiratory condition?
22.
In the
past five (5) years
have you used any drugs except as prescribed by a physician and other than marijuana?
23.
In the
past five (5) years
, due to alcohol abuse, have you been advised by a health professional to reduce your consumption of alcohol or have you received advice or treatment for alcohol abuse?
24.
Are you currently or do you intend to engage in any hazardous sports or activities or make aerial flights other than as a passenger or a commercial pilot?
Slide29Med Questions
25.
Have you any intention of travelling outside North America, the Caribbean or Western Europe for more than six weeks or more than twice per year?
26.
Do you have two (2) or more biological family members (father, mother, brother, sister), living or deceased, who were diagnosed before age 60 with the same condition among the following: diabetes, cancer, stroke, heart trouble, mental disorder that necessitated hospitalization or who committed suicide?
27.
Do you have a biological family member (father, mother, brother, sister), living or deceased, who was diagnosed before age 60 with any of the following conditions: Huntington
’
s disease, polycystic kidney disease or any hereditary disease other than those listed in question 26?
Slide30InstaTerm
is Convertible. InstaTerm is Renewable to Age 90
InstaTerm
is priced
competetively
!!!
InstaTerm
has a built-in benefits;
Transportation
benefit and Living benefit
InstaTerm
makes it easy, a user-friendly e-application system.
Sweet
spots
Slide31FYC is 35% T-10
FYC is 40% T-20BONUS is paid
Slide32Slide33Getting started with Assumption Life!
1 - O
btain
a broker code: Complete the
Broker Registration Form
and send to your MGA.
2 - You will receive an email from Assumption Life indicating your
username, password
as well as your
broker code
.
Slide34SHELDEN SMOLLAN
647 295 8376shelden@isi.ca
If you see someone without a smile, give them one of yours !!!
Slide35lia.assumption.ca
Slide36Slide37Slide38Slide39Slide40We pay
2x WEEK
Slide41PERSONALIZED
MARKETING SUPPORT
Slide42EXCLUSIVE
VIDEO
LEAD GENERATING TOOL
Slide43OUR MAIN
FOCUS
Helping You Help Your Clients
" It
ain't
over 'til it's over "
Slide44SHELDEN SMOLLAN
647 295 8376shelden@isi.ca
If you see someone without a smile, give them one of yours !!!