Golden Protection Medical Questions

Simplified life insurance solution for clients who
want peace of mind and NO MEDICAL EXAM
Canadians Underinsured
Almost HALF of Canadian households (6 million) admit they would have immediate
trouble meeting expenses if a wage earner died.
Not only are they underinsured … They know it !!!
Source: LIMRA
About 2 in 10 households have NO life insurance at
Of those that have coverage over 30% believe they
need additional coverage.
Only 23 % of all households had an opportunity to
buy through a personal meeting with a life agent .
Simplified Issue: What is it?
• Does not require a medical exam, blood test, fluid
samples or doctor’s report.
• Easier to qualify for this type of life insurance than
for traditional insurance.
• One of the fastest ways to get life insurance because
of the simplified issue process.
Who is it for?
– with certain issues that may cause a premium to be
rated or a refusal on a traditional life insurance; or
– who genuinely dislike needles or any type of medical
exam; or
– looking for a simple and fast process to get life
insurance; or
– who don’t want the value of their estate diminished by
funeral costs and other final expenses; or
– who want the tax-free death benefit to be paid quickly.
Addressing Procrastination
• Many Canadians put off buying insurance because
they anticipate a difficult process, thinking it’s
complex and confusing.1
• Simplified issue products are:
 easy to understand;
 easy to apply for.
1. Source: Billion Dollar Baby - The Sales Potential of the Underinsured Life Market in Canada (2007), LIMRA
 With simplified issue products like Golden Protection,
the questionnaire on the application represents the
underwriting process.
 If all the questions are answered “no”, the client is
 Clients don’t have to wait for weeks before finding out
whether they’re insured or not.
 No premium rating.
Underwriting Issues
Some of the elements that make it hard for people to get
• Height and weight
• Diabetes
• DUI / Driving record
• Drug or alcohol abuse
Depression / Anxiety
MS / Parkinson
High blood pressure
High cholesterol
Family health history
Who do you know are affected by one or more of these issues?
A simplified issue life insurance like Golden Protection could be
the solution for them.
Medical Questions - Golden Protection
Medical Questions – Golden Protection
What about cost?
• Premiums for a simplified issue life insurance are
higher than those of a traditional whole life policy
issued at the regular rate.
• This is due to the higher risk taken by the insurance
company on this type of product.
• However, premiums for a simplified issue product
may be lower than you think!
Cost Example
Annual premium for $25,000 face amount for
60 year-old male non-smoker
*5th lowest premium in LifeGuide Sept. 2012 edition for the WL/Guaranteed Life Pay category.
Cost Example
Annual premium for $25,000 face amount for
60 year-old female non-smoker
* 5th lowest premium in LifeGuide Sept. 2012 edition for the WL/Guaranteed Life Pay category.
What is it for?
• Due to the simple underwriting process, face amounts
available are lower than traditional products.
• Mostly used to cover funeral costs and other final
• They can also be used to:
– Cover small debts;
– Grow the estate to be passed on to loved-ones;
– Give to a charitable organization.
• Permanent life insurance guaranteed level premium
• No medical exam, no APS, no fluids or needles
• Guaranteed cash values and excellent paid up value
• Available for smokers and non-smokers
• Available as a policy or rider (spouse)
• Issued with limited proof of insurability
• Insurance amount doubles in case of accidental death
• In case of accidental death in a public transportation vehicle,
beneficiaries receive 5 times the original insurance amount.
• Issue ages
• 40 to 85
• Policy face amount
• $1,000 to $50,000
• Guaranteed cash value and guaranteed reduced paid-up
option after 3 years
• Living benefit
50% of the sum insured in the event of a first-time occurrence of a terminal illness
• Transportation benefit
$2,000 payable when death occurs at a site over 200 km away from primary residence
• Annual fee
rider (spouse)
• Insurance coverage is immediate
• Online application approved within 24-48 hrs
• FYC 45%
Deferred Option
• If your client has been declined for insurance within the past
2 years, they may still qualify for Golden Protection at the
same rates.
• Two-year waiting period for the death benefit for nonaccidental death.
• Accidental death benefit is immediate.
• FYC 35%
Same great features as Golden Protection
Simplified life insurance that allows participants
to increase their original coverage amount by 3%
annually – without increasing their premiums!*
*until the initial sum insured doubles or the insured’s attained age 100 on the coverage’s anniversary.
• Permanent life insurance for clients aged 40 to 80
• No medical exam, no needles or fluids, no APS
• Premiums and coverage that will never change
• Guaranteed cash value and paid up values
• Coverage amount from $1,000 to $30,000
• Same great compensation of FYC 45%
Statistics - Diabetes
Newfoundland and
Labrador, Nova
Scotia, and Ontario
had the highest
prevalence of
diagnosed diabetes,
while Nunavut,
Alberta, and
Quebec ranked
Source: Public Health Agency of Canada (September 2011); using 2008/09 data from the
Canadian Chronic Disease Surveillance System (Public Health Agency of Canada).
Statistics - Diabetes
If incidence and
mortality rates
remain at the levels
seen in 2009, the
number of
Canadians aged
one year and older
living with diabetes
will reach 3.7
million (1.7 million
females and 1.9
million males) by
year 2018
representing an
increase of 56%
Standardized to the global population.
Source: Public Health Agency of Canada (2011); adapted from Shaw JE, Sicree RA, Zimmet PZ. Global
estimates of the prevalence of diabetes for 2010 and 2030. Diab Res Clin Pract 2010;87:4-14.
Obesity can lead to:
• Type
2 diabetes
• Cardiovascular disease
• Stroke
• Hypertension
• Hypothyroidism
• Congestive heart
• Fatty liver disease
• Pregnancy
• Psychological
• Cancer
• Death
Statistics – Obesity Worldwide
* Taking in consideration a BMI > 30
Statistics – Canada’s Aging Population
Number of children aged 14 and under and of people
aged 65 and over, Canada, 1921 to 2011
Sources: Statistics Canada, censuses of population, 1921 to 2011.
Statistics – Canada’s Aging Population
Source: HRSDC calculations based on Statistics Canada. Estimates of population, by age group and sex
for July 1, Canada, provinces and territories, annual (CANSIM Table 051-0001); and Statistics Canada.
Projected population, by projection scenario, sex and age group as of July 1, Canada, provinces and
territories, annual (CANSIM table 052-0005). Ottawa: Statistics Canada, 2011.
How to get started
1 - Obtain 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.
Application system on your desktop.
How to get started…
3 – Download the Online Illustration and Application system on
your desktop.
How to get started…
4 – This icon
should appear on your desktop.
5 – Last step, complete your user profile, you are now ready to
Easy for you
Easy for your client
Easy money
 Get your business placed faster!
 Eliminate errors
 Get paid faster
 Increase productivity
 No need to carry around stacks of paper
 Related forms are all integrated into the e-app.
 Offer your clients a faster turn-around
• Simplified products < 5 days
• Quick Issue products < 2 days
Simplified: Have answered Yes to one of the medical questions or have a face amount higher than
Quick Issue: Face amount of $250,000 or less, where client answers no to all questions.
We pay
Doing business with us,
is easy!

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