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WHY MORTGAGE PROTECTION?
NON-LICENCE
www.examsimulator.com
or
ATTEND EMG LICENCE TRAINING CLASS
Equita Mortgage GroupEquita Mortgage Group
““Preserving Your Financial Preserving Your Financial Future”Future”
Our Promise to YouOur Promise to You
We will tailor an We will tailor an affordableaffordable mortgage protection plan that mortgage protection plan that protects your most treasured assets protects your most treasured assets – – Your Family and Your Home.Your Family and Your Home.
We Represent the Top Insurers We Represent the Top Insurers in Mortgage Protection Marketin Mortgage Protection Market
We go to work We go to work
for you!for you!
We will select the We will select the product and company product and company that best fits your that best fits your budget and your needs.budget and your needs.
Consider These QuestionsConsider These Questions
Can your family continue to pay mortgage Can your family continue to pay mortgage payments if you’re no longer able?payments if you’re no longer able?
What will happen to your family income if you die What will happen to your family income if you die or become disabled?or become disabled?
Will your investments or savings cover your Will your investments or savings cover your family’s monthly expenses? family’s monthly expenses?
Losing Your Losing Your HomeHome
Is a Real RiskIs a Real RiskMost people lose their homes through:Most people lose their homes through:
– DeathDeath• 56 out of every 1000 people die before 56 out of every 1000 people die before
age 50age 50– UnemploymentUnemployment
• One of every 10 Americans will become One of every 10 Americans will become unemployed this year for a period of 6 months unemployed this year for a period of 6 months or moreor more
– Critical IllnessCritical Illness• Last year more than 1.2 million Americans were Last year more than 1.2 million Americans were
diagnosed with cancerdiagnosed with cancer– DisabilityDisability
• You have a 1 in 3 chance of being disabled in You have a 1 in 3 chance of being disabled in excess of 90 days before you reach 65 excess of 90 days before you reach 65
Traditional Mortgage Traditional Mortgage ProtectionProtection
Decreasing Term InsuranceDecreasing Term Insurance• Premium stays level while Premium stays level while benefit decreasesbenefit decreases with mortgage with mortgage
balancebalance
Bank or Mortgage Company Is BeneficiaryBank or Mortgage Company Is Beneficiary• All benefits are paid to bank/mortgage companyAll benefits are paid to bank/mortgage company
You Pay Premiums, Bank gets benefitsYou Pay Premiums, Bank gets benefits
Coverage is Coverage is notnot transferable or portable transferable or portable
Accidental Death InsuranceAccidental Death Insurance• Least expensive insurance often with limited coverage (less than Least expensive insurance often with limited coverage (less than
2%2% of all deaths are caused by accident) of all deaths are caused by accident)
Mortgage Protection Plan Features
Death Benefit remains level. Death Benefit remains level.
Covers any kind of death. Natural Covers any kind of death. Natural or accidentalor accidental(Suicide after 2 years)(Suicide after 2 years)
Choice of BeneficiaryChoice of BeneficiaryLeave the money to your family.Leave the money to your family.
Coverage is portable and Coverage is portable and transferable.transferable.
Premiums do not increase.Premiums do not increase.
Premiums are Guaranteed for Premiums are Guaranteed for full termfull term
Accidental Death Benefits Accidental Death Benefits Available Available
Children’s coverage through Children’s coverage through One Affordable RiderOne Affordable Rider
Living Benefit OptionsLiving Benefit Options DisabilityDisability
• Pays monthly benefit should you Pays monthly benefit should you
become disabledbecome disabled Waiver of premiumWaiver of premium
• Pays your policy premium if you Pays your policy premium if you become disabledbecome disabled
Involuntary unemployment• Will waive your policy
premium up to six months Critical Illness
• Accelerated death benefit of up to 50% of the face amount
Money Back OptionMoney Back Option• Receive a Receive a refund of refund of
ALL of your premiums ALL of your premiums paidpaid at the end of at the end of policy termpolicy term
Your Promise to Your FamilyYour Promise to Your Family
Not to go..Not to go..
UNPROTECTEDUNPROTECTED
You never know when You never know when something might something might happen. happen.
What would family do What would family do if you did not make it if you did not make it home?home?
TRAINING CLASS
TOMORROW 10am - 4pm
LEAD ORD\ER FORMS
Agent Use Only: Not for public distribution
Financial Strength
$6.2 Billion in force
$644.2 Million in assets
$74.1 Million in Capital & Surplus
(American-Amicable Group, as of 6/30/08)
Agent Use Only: Not for public distribution
Quick Agent Set UpsFast New Business ProcessingApplication Scanning/Faxing and EcheckQuick Payout (Advances Paid Daily)Agent Friendly Website / Agent Efile
Agent Use Only: Not for public distribution
A Company to build with…
Marketing Sales Website• Agent Efile
• Reports for tracking New Business
• Commission Statements• Production Reports• “Info Button”• Client List• Policy Correspondence
Supply Requisition• PDF’s of Product Materials• View/Print/Order supplies
Illustrations/Presentations• Run Illustrations on
Products• Update Software
New Business/Underwriting• Transmitting Applications• Underwriting Information
Product Information• Product State Approval
Grid• Home Office Contact Listing• Field Communication
Updates
Agent Use Only: Not for public distribution
Home Protector
Agent Use Only: Not for public distribution
Home Protector – Policy SpecsSimplified issue / Non-Med Term Life Insurance
15, 20, 25 & 30 year term periods to choose from
Premiums can either be guaranteed for the full term period or for 5 years only
Available with optional Return of Premium Rider
Issued Standard through Table 4 (Accept/Reject )
Proof of Mortgage will be required
Annually renewable to age 95 after the selected term period
Convertible on or before the earlier of attained age 75 or when the level premium period ends
Agent Use Only: Not for public distribution
Home Protector – Policy SpecsIssue Ages (age last birthday)
Minimum Policy Size - $25,000 Face Amt or $25 Base Monthly Premium (whichever is greater)
Maximum Face Amount - $200,000
Premium Rate Classes:UnisexSmoker / Non-Smoker
Modal Factors – monthly .087; quarterly .259; semiannual .512
Policy Fee - $80 (Fully Commissionable)Agent Use Only: Not for public distribution
Term Full Guarantee 5 Year Guarantee
15 Year 20 to 65 20 to 65
20 Year 20 to 60 20 to 60
25 Year 20 to 55 20 to 55
30 Year 20 to 50 20 to 60
Return of Premium Rider:After the term period, returns all of the following:
Base Policy premium
ROP Rider premium
Policy Fee
Modal Factor
Beginning in the 6th policy year at least a portion of the premiums paid are available to be returned. The percentage of premiums that are returned increase each year until it reaches 100% at the end of the term period selected.
Home Protector – Available Riders
Disability Income Rider: Pays a monthly benefit to the
insured in the event the insured becomes totally disabled: Monthly Benefit is 2% of the Face Amount, not to exceed
$1,500 (if annual income is below $25,000, the benefit
cannot exceed $900 per month) The Benefit Period Runs for 2 Years 60 Day Elimination Period and the Benefits are not
Retroactive Ineligible Occupations – listed in Agent Guide Issue Ages: 20 – 55 (rider terminates at age 65) Defined: Disability which Keeps you from being able to
perform the major duties of your regular occupation as a
result of such injury or disease.
Agent Use Only: Not for public distribution
Home Protector – Available Riders
Critical Illness Rider*: Provides a cash benefit to the insured upon
the diagnosis of a covered critical illness: Available at 25%, 50% or 100% acceleration up to a maximum
$100,000 critical illness benefit Requires disclosure for the Accelerated Living Benefit Rider (form
no. 9543), Submit with App Covered Illnesses:
- Heart Attack - Coronary Artery Bypass Graft (10% of DB)
- Stroke - Invasive Cancer
- Kidney Failure - Major Organ Transplant Surgery
- Paralysis - Blindness
- Terminal Illness - HIV contracted performing duties as
professional healthcare worker
Issue Ages: 20 – 65 (rider expires at age 70)
Agent Use Only: Not for public distribution
* Critical Illness not available on same policy if applying for Waiver of Premium
Home Protector – Available Riders
Waiver of Premium*: Waives the payment of the entire
policy premium (including riders) in the event of total and
permanent disability. Issue Ages 20-55Coverage expires at age 60
Children’s Insurance Agreement: Provides $3,000 per
unit (max 5 units) on each child until age 25. Convertible
up to 5 times the initial coverage without evidence.Issue ages: Children 15 Days – 17 years
Primary Insured: 20-50Coverage expires at Primary Insured’s age 65
Agent Use Only: Not for public distribution* WP not available on same policy if applying for Critical Illness Rider
Home Protector – Available Riders
Accidental Death Benefit: An additional benefit paid to
the beneficiary if the insured dies as the result of an
accident. Available up to $200,000 or 5 times the face
amount of the policy, whichever is less. Issue Ages: 20-64Benefit terminates at age 65
Level Term Insurance Rider (Spouse Only): Provides
level term insurance for 20 years or to the Insured’s age
70, whichever comes first.Spouse Issue Ages: 15-65Minimum Amount: $25,000Maximum Amount: Not to exceed base policy
Agent Use Only: Not for public distribution* WP not available on same policy if applying for Critical Illness Rider
Home Protector – Available Riders
No Cost Benefits Included
Agent Use Only: Not for public distribution
Terminal Illness Accelerated Benefit Rider:Can receive up to 100% of the death benefit when insured has a life expectancy of 12 months or less (24 months in some states.Requires disclosure form (9474). A Copy of Form is left with Applicant; No Signature Requirements.
Accelerated Benefits Rider - Confined Care:Full Time, Permanent Residence in Nursing HomeFixed Monthly Pmt of 2.5% of face amountRequires disclosure form (9675SIG). Must be signed by applicant and submitted along with the application
App Completion/Submission Good Field Underwriting is essential to avoid unnecessary
Underwriting delays Always Fully Complete All Required Sections and Questions Provide Complete Details to “Yes” answers on health
questions. List any Medications currently taken and their associated
conditions If additional space is needed for details regarding health
questions or medications, please provide on a separate sheet
of paper and submit with app
Agent Use Only: Not for public distribution
Medical Information Bureau (MIB)
Member Companies report conditions to MIB database during the underwriting process
Our Company accesses the MIB database on all Home Protector applications
MIB replies can trigger additional underwriting requirements (i.e. APS’s, Exams, etc.)
Home Protector – Underwriting
Agent Use Only: Not for public distribution
Pharmaceutical Database Check
Check of National Pharmacy DatabasesDatabases are checked on every Home
Protector ApplicationProvides information on medications /
prescriptions taken by the ApplicantMay trigger additional underwriting
requirements (i.e. APS’s, Exams, etc.)
Agent Use Only: Not for public distribution
Home Protector – Underwriting
Home Protector – Summary Simplified Issue Term (No Medical Exam Required)
Simple “Yes/No” Application (1 page) 15/20/25/30 Year Premium Plans Premiums can be guaranteed for the full term or for 5 years Attractive Optional Riders (available at an additional cost):
ROP WP Childrens Insurance Agreement
DIR ADB
CIR LTR (Spouse Only)
No Cost Benefits:Terminal Illness Accelerated Benefit Rider
Accelerated Benefits Rider - Confined Care
After Level Premium Period, Policy Can be Kept to Age 95 on
an annually renewable basis Highly Competitive Premiums
Agent Use Only: Not for public distribution
APPOINTMENT SETTING
BY MARK FRITZ
APPOINTMENT SETTING SCRIPT
IN-HOME PRESENTATION
BY R. FACHON REED