3i Financial Group Child Life & Health Duo Child Life and - - PowerPoint PPT Presentation

3i Financial Group

Child Life & Health Duo

Introducing....

The Child Life & Health Duo

Child Life and Health Duo

A package designed specifically for kids from 0-20 years old. New hybrid insurance product on the market

Good reasons to offer life insurance for children

• 1. Ensure your insurability

Don’t wait till it’s too late

2. A lifetime gift

One day, they’ll thank you

3. Reduce the financial burden into adulthood

Quick payment of premiums

4. The antithesis of «Buy now and pay later»

«Pay less now and make your child benefit later»

Child Life and Health Duo

Good reasons to offer critical illness with a life benefit

2. Whole life insurance paid-up by age 30 3. Convertible term critical illness coverage 4. Life insurance is still in-force after a critical illness payment 1. One contract – two coverages

Child Life and Health Duo

Life insurance

• Payable to age 30
• Death benefit guaranteed for life
• Guaranteed premiums
• Guaranteed surrender value and

paid-up insurance available starting in the 11th year

Whole life insurance

Features

Child Life and Health Duo

Whole life insurance

Critical illness

Critical illness

• Term coverage to age 30
• Half of life death benefit
• Can be converted to permanent

CI coverage anytime between age 25 and 30

• 25 illnesses
• 7 juveniles illnesses
• Include Prevention +

Features

More than our competitors

Child Life and Health Duo

Whole life insurance

Critical illness

Non smoker bonus

• Between 15 and 20 years old
• 40 % of life benefit
• 40 % of critical illness benefit

Non-smoker bonus

Life

Critical illness

Features

Child Life and Health Duo

Whole life insurance

Critical illness GI life

Life GI included

• For all contract issued

before age 20

• 2 options included
• At age 20 and 25, or before

40 (graduation, marriage, child)

• At each option: 100% of initial

face amount with a maximum of $50,000.

Features Into adulthood Non-smoker bonus

Life

Critical illness

Child Life and Health Duo

Guaranteed insurability and CI conversion at adulthood without underwriting

Into adulthood

Whole life payable at age 30 CI at 30 years

Convertible

Guaranteed insurability Critical illness T-75 or T-100

Rider or stand alone

Additional whole life or Universal Life insurance

Sales

• pportunities

FRP RPD

Child Life and Health Duo

• Life : $ 50,000
• CI : $ 25,000

10 yrs $ 70,000 $ 35,000 $ 120,000 $ 35,000 Marriage GI option CI Conversion $ 170,000 $ 35,000 Case Study #1: Child in good health

2nd GI

• ption

+ 40% Life and CI

15 yrs Non smoker 40 % bonus

GI option: + $50,000 New whole life or UL coverage

Note: The GI option has no impact on the critical illness amount

20 yrs GI option For life

GI option: + $50,000 New whole life or UL coverage 1st GI

• ption

Child Life and Health Duo

Whole life insurance

Payable up to age 30

Critical illness

Term to age 30 (convertible)

Whole life insurance

Half of initial face amount

CI Claim

The life insurance is still in-force after a critical illness payment Unique on the market

The guaranteed insurability is still in force to increase to life insurance benefit (GI)

Child Life and Health Duo

• Life : $ 50,000
• CI : $ 25,000

10 yrs 13 yrs $ 25,000 $ 0 15 yrs Non smoker bonus = $ 0 $ 25,000 $ 0 For life $ 125,000 $ 0 25 yrs 20 yrs GI option $ 75,000 $ 0 Case Study #2: Critical illness claim at age 13

CI claim Life : $50,000 - $25,000 = $25,000

Can be seen as an advance payment

1st GI

• ption

Life: + $50,000

Any whole life or UL coverage

2nd GI

• ption

Life: + $50,000

Any whole life or UL coverage

Child Life and Health Duo

• Life : $ 50,000
• CI : $ 25,000

10 yrs 15 yrs

Non- smoker bonus

$ 70,000 $ 35,000 20 yrs GI option $ 120,000 $ 35,000 25 yrs

CI claim $35,000

$ 85,000 $ 0 For life 30 yrs GI Option $ 135,000 $ 0 Case Study #3 : Client with a CI claim at age 25

+ 40% Life and CI 1st GI option + $50,000 life Life : $120,000 - $35,000 = $85,000 2nd GI option +$50,000 life

Child Life and Health Duo

25 Critical illnesses

• Cerebral vascular accident
• Motor neuron disease
• Alzheimer’s disease
• Aplastic anaemia
• Occupational injury HIV (1)
• Major burns
• Cancer
• Blindness
• Aortic surgery
• Coma
• Heart attack
• Kidney failure
• Bacterial meningitis
• Muteness (loss of speech) (1)
• Paralysis (2)
• Parkinson’s disease
• Loss of independent existence
• Dismemberment
• Coronary artery bypass surgery
• Heart valve replacement
• Multiple sclerosis (2)
• Deafness
• Major organ transplant
• Major organ failure on waiting list
• Brain tumour

7 juvenile illnesses

(Covered until the insured’s 25th birthday)

• Congenital cardiac defects
• Type 1 diabetes
• Muscular dystrophy
• Cystic fibrosis
• Cerebral palsy
• Autism (Child Life & Critical Illness Duo only) (3)
• Rett’s syndrome (Child Life & Critical Illness Duo only)

(1) 180-day waiting period (2) 90-day waiting period (3) Diagnosis must be made before the age three

What’s included

The same 25 illnesses as our

• ther CI products

New

Child Life and Health Duo

Age at issue 0 to 20 years Payment of premiums Up to age 30 Life face amount (CI) Minimum $ 20,000 ($10,000 CI) Maximum $ 500,000 ($250,000 CI) Guaranteed surrender values Yes, starting in year 11 Guaranteed paid-up insurance Yes, starting in year 11 For the Life and Critical illness Non-smoker bonus (between age 15 and 20) Yes, bonus of 40% for the life and critical illness coverage.

Summary

Child Life and Health Duo

Guaranteed Insurability included 2 option included on the life benefit. Maximum of 100% (or $50,000) for each

• ption

Conversion privilege Between age 25 and 30 The CI can be converted into any permanent product (rider or stand-alone) Number of covered illnesses and conditions 25 covered illnesses 7 additional juvenile illnesses

• Best coverage on the market

Best Doctors / Sigma Assistel Included

Summary

Child Life and Health Duo

Additional benefits AF - Accidental Fracture GI - Guaranteed Insurability (6 options) AD and AD&D - Accidental Death & AD & Dismemberment All are always paid-up in 10 years regardless

• f client’s age.

The Child Life and Health Duo can be added on Any Axis and Maxirance contract

Summary

Child Life and Health Duo

Child Life and Health Duo

DISCLAIMER: This presentation has been prepared by 3i Financial Group Inc. as a resource for educational and information purposes only. Information was provided by Industrial Alliance (IA). While the information is from sources believed to be reliable, we make no claims or guarantees about the accuracy and completeness of this presentation. The services of providing mutual funds and labour sponsored funds are offered through "3i Financial Investment Services Inc.“ The services of providing life insurance and other non-investment plans are offered through "3i Financial Group Inc." Both are separate legal entities. 3i Financial Investment Services Inc. is a member of the Mutual Fund Dealers Association (MFDA) licensed to distribute mutual funds. For more information, please contact Louise Tam. E&OE.