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

3i Financial Group Child Life & Health Duo

Child Life and Health Duo Introducing.... The Child Life & Health Duo A package designed specifically for kids from 0-20 years old. New hybrid insurance product on the market

Child Life and Health Duo 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 Quick payment of premiums into adulthood 4. The antithesis of «Buy now «Pay less now and make your and pay later» child benefit later»

Child Life and Health Duo Good reasons to offer critical illness with a life benefit 1. One contract – two coverages 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

Child Life and Health Duo Features Life insurance Whole life insurance •Payable to age 30 •Death benefit guaranteed for life •Guaranteed premiums •Guaranteed surrender value and paid-up insurance available starting in the 11 th year

Child Life and Health Duo Critical illness Features • Term coverage to age 30 Whole life insurance • Half of life death benefit Critical illness • Can be converted to permanent CI coverage anytime between age 25 and 30 • 25 illnesses • 7 juveniles illnesses • Include Prevention + More than our competitors

Child Life and Health Duo Features Whole life insurance Non smoker bonus Critical illness • Between 15 and 20 years old Non-smoker bonus • 40 % of life benefit Life Critical illness • 40 % of critical illness benefit

Child Life and Health Duo Into adulthood Features Life GI included Whole life insurance • For all contract issued before age 20 Critical illness • 2 options included Non-smoker bonus GI • At age 20 and 25, or before 40 (graduation, marriage, child) Life life Critical illness • At each option: 100% of initial face amount with a maximum of $50,000.

Child Life and Health Duo Into adulthood Guaranteed insurability and CI conversion at adulthood without underwriting Whole life payable at Additional whole life or Guaranteed insurability age 30 Universal Life insurance Sales opportunities CI Critical illness at 30 FRP T-75 or T-100 Convertible years RPD Rider or stand alone

Child Life and Health Duo Case Study #1: GI option: + $50,000 Child in good health GI option: + $50,000 New whole life or UL New whole life or UL coverage coverage + 40% Life and CI • Life : $ 50,000 $ 70,000 $ 120,000 $ 170,000 • CI : $ 25,000 $ 35,000 $ 35,000 $ 35,000 10 yrs Marriage 15 yrs 20 yrs For life GI option Non smoker GI option CI Conversion 40 % bonus 2 nd GI 1st GI option option Note: The GI option has no impact on the critical illness amount

Child Life and Health Duo Unique on the market The life insurance is still in-force after a critical illness payment The guaranteed insurability is still in force to increase to life insurance benefit (GI) Whole life insurance Payable up to age 30 Whole life CI Claim insurance Critical illness Term to age 30 Half of initial face (convertible) amount

Child Life and Health Duo Case Study #2: Critical illness claim at age 13 Life: + $50,000 Any whole life or Life: + $50,000 UL coverage Any whole life or Life : $50,000 - $25,000 = $25,000 UL coverage Can be seen as an advance payment • Life : $ 50,000 $ 25,000 $ 25,000 $ 75,000 $ 125,000 • CI : $ 25,000 $ 0 $ 0 $ 0 $ 0 10 yrs 13 yrs 15 yrs 20 yrs 25 yrs For life Non smoker GI option bonus = $ 0 2 nd GI 1st GI CI claim option option

Child Life and Health Duo Case Study #3 : Client with a CI claim at age 25 Life : $120,000 - $35,000 = $85,000 + 40% Life and CI • Life : $ 50,000 $ 70,000 $ 120,000 $ 85,000 $ 135,000 • CI : $ 25,000 $ 35,000 $ 35,000 $ 0 $ 0 15 yrs For life 10 yrs 20 yrs 25 yrs 30 yrs Non- CI claim GI option GI Option smoker $35,000 bonus 1 st GI option 2 nd GI option + $50,000 life +$50,000 life

Child Life and Health Duo What’s included 7 juvenile illnesses 25 Critical illnesses - Cerebral vascular accident (Covered until the insured’s 25 th birthday) - Motor neuron disease - Congenital cardiac defects - Alzheimer’s disease - Type 1 diabetes - Aplastic anaemia - Occupational injury HIV (1) - Muscular dystrophy - Major burns - Cystic fibrosis - Cancer - Cerebral palsy - Blindness - Aortic surgery - Autism (Child Life & Critical Illness Duo only) (3) - Coma New - Rett’s syndrome (Child Life & Critical Illness Duo only) - Heart attack - Kidney failure - Bacterial meningitis - Muteness (loss of speech) (1) - Paralysis (2) The same 25 - Parkinson’s disease - Loss of independent existence illnesses as our - Dismemberment other CI products - Coronary artery bypass surgery - Heart valve replacement - Multiple sclerosis (2) - Deafness (1) 180-day waiting period - Major organ transplant - Major organ failure on waiting list (2) 90-day waiting period - Brain tumour (3) Diagnosis must be made before the age three

Child Life and Health Duo Summary 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 Yes, bonus of 40% (between age 15 and 20) for the life and critical illness coverage.

Child Life and Health Duo Summary Guaranteed Insurability included 2 option included on the life benefit. Maximum of 100% (or $50,000) for each option 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 25 covered illnesses conditions 7 additional juvenile illnesses - Best coverage on the market Best Doctors / Sigma Assistel Included

Child Life and Health Duo Summary 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 of client’s age. The Child Life and Health Duo can Any Axis and Maxirance contract be added on

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.