1 / 48

I want a special insurance carrier

Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark . Foresters products may not be available or approved in all states, and state variations may apply.

tyrone
Download Presentation

I want a special insurance carrier

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark. • Foresters products may not be available or approved in all states, and state variations may apply. 407967 US (12/12) Producer Use Only

  2. I wanta special insurance carrier

  3. Who is Foresters Financial Strength Product Portfolio Member Benefits Fraternal Difference Producer Rewards Sales Support 407967 US (12/12) Producer Use Only

  4. Financial Strength • Assets of $8.588 billion CDN and liabilities of $7.144 billion CDN. • Foresters conservative investment strategy has resulted in a strongsurplus of $1.444 billion CDN and the ability to withstand adversebusiness and market conditions. • Solvency ratios are beyond the local regulatory requirementsand above industry averages in all three countries of business. • Foresters financial strength, as measured by A. M. Best Company, is rated “A” (Excellent) and has been for the past 12 years. Ratings and figures current as of Dec. 31, 2011. An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning Foresters rating on July 06, 2012, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest ratings. 407967 US (12/12) Producer Use Only

  5. Fraternal Difference • How are Fraternal Benefit Societies different from other life insurance carriers? • Our customers are our members and apply for membership in the application • Share a common bond • Non Denominational • Fraternal Concept: People helping People • Not subject to tax – but Foresters is expected to spend the equivalent for the benefit of members and their communities 407967 US (12/12) Producer Use Only

  6. Fraternal Difference • In 2011, over $48 million was raised for Children’s Miracle Network Hospitals® in the United States and Canada. • Foresters role as founding sponsor and international underwriter of Children’s Miracle Network’s Radiothon means 100% of funds stayed in the community. • Since 1990, Foresters has helped raise almost half a billion dollars for Children’s Miracle Network. 407967 US (12/12) Producer Use Only

  7. Fraternal Difference 407967 US (12/12) Producer Use Only 503349 US (10/11)

  8. Fraternal Difference The Foresters Difference – Playground Builds • Since 2006, Foresters has built or planned nearly 100 KaBOOM! playgrounds, thanks to the volunteer efforts of Foresters members, independent producers and local community partners. • These playgrounds will eventually serve over 1,000,000 children and families, providing them with a safe place to play, learn and spend time together across North America. 407967 US (12/12) Producer Use Only

  9. Fraternal Difference Emergency assistance relief granted by Foresters: • Fargo/Bismarck Flooding – March/09 • Mississippi Tornadoes – April/10 • East Coast Hurricane Irene – August/11 • Texas Wildfires – September/11 • Florida Flooding – June/12 • Colorado Wildfires – June/12 • Super Storm Sandy – November/12 407967 US (12/12) Producer Use Only

  10. Member Benefits Legal Link Terminal Illness Loans Everyday Money Orphan Benefits Scholarships Legal Link offers members access to free and discounted legal services in their area. Call to connect with lawyers from across North America for help with a variety of issues including wills, home ownership and family law. Toll-free and confidential phone-based financial helpline. - may help reduce the stress involved with financial decision-making - designed to help with other areas of a member’s financial life and will not involve the sale of, or recommendations on, any financial products. • $900 per month per child to age 18 • The benefit starts one month after the child of a member becomes an orphan • The benefit ends when the child reaches age 18, gets married, is self-supporting, receives a scholarship grant or leaves school • Up to 75% of the net face amount of Foresters Life insurance up to a maximum of $250,000 • Definition of terminal illness: Reasonable certainty of death within 12 months as determined by a legally qualified Physician who can provide medical proof satisfactory to Foresters • Not available as a member benefit in the states of Illinois or New York or on Accidental Death products. • Orphan Scholarship • One parent - $1,500/year • Single parent - $3,000/year • Both parents - $6,000/year • Renewable for up to 4 years • Competitive Scholarship • $2,000 per year for up to 4 years Foresters member benefits are non-contractual, subject to eligibility requirements and limitations and may be changed or cancelled without notice. 407967 US (12/12) Producer Use Only

  11. Member Benefits • Suppose two parents with three small children (turning ages 1, 3,and 5) pass away • Foresters could pay death benefits • Foresters would also pay the Orphan Benefit to the legal guardian of the orphaned children Foresters members include insureds under Foresters certificates. Members’ immediate family members may also be eligible to apply for certain member benefits. Foresters member benefits are non-contractual, subject to benefit-specific eligibility requirements and limitations, and may be changed or canceled without notice. 407967 US (12/12) Producer Use Only

  12. Member Benefits 407967 US (12/12) Producer Use Only

  13. I wanta comprehensive portfolio of products

  14. Product Portfolio Medically Underwritten Non-medical* Lifefirst Level Term Life Advantage Plus Whole Life SMART UL Lifefirst Level Term Life Advantage Plus Whole Life *Insurability depends on the answers to a few medical and lifestyle questions and an underwriting review, based on underwriting requirements and guidelines. $250,000 407967 US (12/12) Producer Use Only

  15. Product Portfolio Niche PlanRight Whole Life Prepared Accident Only Term Life Insurance 407967 US (12/12) Producer Use Only

  16. Product Portfolio Prepared SMART UL PlanRight Advantage Plus Lifefirst Ages 60-85 Lower income Market Looking to help cover costs of final expenses. Clients who may not be in the best of health and don’t want to go through the hassles of full underwriting Ages 18 to 60 Americans looking for financial protection from premature death as a result of an accident Clients who don’t want to go through the hassles of underwriting or do not qualify for traditional (all causes) life insurance Ages 30-50 Middle income Market Looking for lifetime life insurance protection Clients who don’t want to go through the hassles of full underwriting Looking for cash value accumulation potential Ages 25-55 Looking for temporary life insurance for needs, such as mortgage or income protection, at an affordable price Clients who don’t want to go through the hassles of full underwriting Looking for personal protection from total disability and certain critical illnesses • Ages 30-50 looking for long term cash value growth • Ages 50-70 looking for guaranteed premium and a death benefit • Middle income market • Want lifetime life insurance protection (up to age 121) • Want cash value accumulation potential • Non-medical or medically underwritten plans 407967 US (12/12) Producer Use Only

  17. Lifefirst 407967 US (12/12) Producer Use Only

  18. Lifefirst Term - Non-Medical 20-year Term - $100,000 Source: - Americo Simplified Issue 100 Term Rate Cards v03/12 - Cited with permission of Compulife® (as of November 12, 2012). Compulife® is a registered trademark of Compulife Software, Inc. All trademarks belong to the respective trademark owners.

  19. Lifefirst Term - Non-Medical 20-year Term - $100,000 Source: - Americo Simplified Issue 100 Term Rate Cards v03/12 - Cited with permission of Compulife® (as of November 12, 2012). Compulife® is a registered trademark of Compulife Software, Inc. All trademarks belong to the respective trademark owners.

  20. Lifefirst Term – Medical 10-year Term - $300,000 Source: - Cited with permission of Compulife® (as of November 12, 2012). Compulife® is a registered trademark of Compulife Software, Inc. All trademarks belong to the respective trademark owners.

  21. Lifefirst Term – Medical 20-year Term - $300,000 Source: - Cited with permission of Compulife® (as of November 12, 2012). Compulife® is a registered trademark of Compulife Software, Inc. All trademarks belong to the respective trademark owners.

  22. SMART UL 407967 US (12/12) Producer Use Only

  23. Non-Med Universal Life Male 35 yrs old standard non smoker, $250,000 face amount, $2,540 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  24. Non-Med Universal Life Female 35 yrs old standard non smoker, $250,000 face amount, $2,000 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  25. Non-Med Universal Life Male 45 yrs old standard non smoker, $250,000 face amount, $4,000 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  26. Non-Med Universal Life Female 45 yrs old standard non smoker, $250,000 face amount, $2,300 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  27. Non-Med Universal Life Male 35 yrs old standard non smoker, $100,000 face amount, $1,055 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  28. Non-Med Universal Life Male 45 yrs old standard non smoker, $100,000 face amount, $1,700 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  29. Non-Med Universal Life Female 45 yrs old standard non smoker, $100,000 face amount, $1,200 Annual Premium • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  30. Non-med Universal LifeMale 55 yrs old, $100,000 face amount, AP $2,600 • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  31. Non-Med Universal LifeFemale 55 yrs old, $250,000 face amount, AP $6,500 • Sources: Individual company software as of November 1, 2012 Guideline Premium Test with Level Death Benefit Based on current COI. • Assumes current interest rate and COI applicable throughout all years and no loans or withdrawals. • For Producer Use Only

  32. Advantage Plus 407967 US (12/12) Producer Use Only

  33. Whole Life Non-Medical This comparison is based on Foresters Whole Life insurance rates as of November 2012 and rates from Lafayette Contender 100, LifeScape Whole Life from Assurity, and Covenant II from Mutual Trust from their respected software as of November 2, 2012. Premiums are calculated on a level basis, payable to age 100, and assume the applicant has been underwritten and qualified for the classification above. The comparison assumes base coverage only with no additional riders, and all premiums are paid when due. The cash values are guaranteed cash values only, and do not include any non-guaranteed dividends. For producer use only, not to be disclosed to the public

  34. Whole Life Non-Medical This comparison is based on Foresters Whole Life insurance rates as of November 2012 and rates from Lafayette Contender 100, LifeScape Whole Life from Assurity, and Covenant II from Mutual Trust from their respected software as of November 2, 2012. Premiums are calculated on a level basis, payable to age 100, and assume the applicant has been underwritten and qualified for the classification above. The comparison assumes base coverage only with no additional riders, and all premiums are paid when due. The cash values are guaranteed cash values only, and do not include any non-guaranteed dividends. For producer use only, not to be disclosed to the public

  35. Whole Life Fully Underwritten This comparison is based on Foresters Whole Life insurance rates as of November 2012 and rates from Lafayette Contender 100, LifeScape Whole Life from Assurity, and Covenant II from Mutual Trust from their respected software as of November 2, 2012. Premiums are calculated on a level basis, payable to age 100, and assume the applicant has been underwritten and qualified for the classification above. The comparison assumes base coverage only with no additional riders, and all premiums are paid when due. The cash values are guaranteed cash values only, and do not include any non-guaranteed dividends. For producer use only, not to be disclosed to the public

  36. Whole Life Fully Underwritten This comparison is based on Foresters Whole Life insurance rates as of November 2012 and rates from Lafayette Contender 100, LifeScape Whole Life from Assurity, and Covenant II from Mutual Trust from their respected software as of November 2, 2012. Premiums are calculated on a level basis, payable to age 100, and assume the applicant has been underwritten and qualified for the classification above. The comparison assumes base coverage only with no additional riders, and all premiums are paid when due. The cash values are guaranteed cash values only, and do not include any non-guaranteed dividends. For producer use only, not to be disclosed to the public

  37. PlanRight 407967 US (12/12) Producer Use Only

  38. Final Expense Level Comparison Sources: Individual company rate books as of November 1, 2012 For producer use only, not to be disclosed to the public

  39. Final Expense Level Comparison Sources: Individual company rate books as of November 1, 2012 For producer use only, not to be disclosed to the public

  40. Prepared 407967 US (12/12) Producer Use Only

  41. Sales Support PlanRight Voice signature Training Advanced Marketing Ease of Business Support Center For large, complex, or a unique case, utilize Foresters Advanced Marketing Foresters Advanced Marketing department offers collateral marketing pieces that provide simple, summary explanations of advanced sales strategies, educational webinars and seminars and phone support for small business and estate cases Entire insurance application completed over the phone Paperless process - electronic application Point-of-Sale qualification – medical eligibility determined before the call is over No requirement to send materials prior to call No wet Signature Required Quick issue and pay • Dedicated training section on the producer website • New Agent Webinars every 3 weeks • Product Webinars • Special Topic Webinars • Advanced marketing • Point-of-Sale Eligibility • Illustration support and processes • Reinstate-with-Redate A single point of contact with Foresters. A “live” voice for all your pre-sales questions. Assistance with illustrations, ordering materials and navigating website. Proactive outbound calls to keep producers informed on new materials, new products & concepts. • No signed illustrations required just a completed and signed Illustration Certification FormWith Decision Express, Foresters has real-time eligibility decisions for our non-med SMART UL, Advantage Plus Whole Life, Term & PlanRight. • Mobile quoting allows you to quote on PlanRight, Lifefirst and Advantage Plus on your phone 407967 US (12/12) Producer Use Only

  42. Federal Employee Market Support • Dedicated website with all the resources you need www.forestersfeb.com • Guide to Federal Employee Group Life Insurance • Guide to completing a Foresters application • Product Guides • Mobile quoting tools & FEGLI comparison tool • Choice of two government allotment administrators • Tower Administrative Services • Transaction Allotment Inc. 407967 US (12/12) Producer Use Only

  43. Additional Marketing Support • On the producer website you will find: • Ad mats • Web pages • Worksheets/Needs Analyses • Pre-approach letters • Premium reminder stickers • Final Wishes booklet 407967 US (12/12) Producer Use Only

  44. Platinum Destination 2014 Monte Carlo! Interlaken, Switzerland May 22–28, 2013 407967 US (12/12) Producer Use Only

  45. Prestige Destination 2014 Miami! 407967 US (12/12) Producer Use Only

  46. Eligibility • Foresters records will determine qualification results and eligibility. • Agents must be in good standing with Foresters at the time of the Destination conference. • Attendance is available only to those who qualify and are invited by Foresters to attend. • A guest must be accompanied by the qualifier to attend the conference. • Individuals who, for any reason, are unable to attend, are not entitled to any other compensation, nor may the qualifier substitute in his/her stead any other person. 407967 US (04/12) Producer Use Only

More Related