Benefits Basics
States – KY, VA, WV, TN
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People
170 EE's hourly employees.
Payroll is WEEKLY
Aflac is the other carrier and has enrolled already.
All Employees MUST call in to waive or elect.
Employees currently have the following in Life –
$24K Company paid Life
Talking points:
Term policy that terms with employment
If portable, it would be re-rated at attained age with EOI.
Enrollment is until October 11th – October 22nd
Payroll Deduction – WEEKLY first deduction date is 11/5 Contract Date is 12/1 (Coverage is date of app)
PLEASE TRY TO SELL ALL WITH ADB AND WOP AND USE THE CORRECT RATES
Term Life / Term ROP
Whole Life 65 / 100
Highlights
CinFin offers three comprehensive options:
"IF”: Term Life insurance provides guaranteed protection for a specified time period and pays a benefit if you die in this period of time.
“WHEN” Whole life insurance is permanent life insurance and costs more than term because the policy is designed to cover you for your whole life.
”THEN”ー Return on Premium life insurance with a money-back guarantee after the 20 years.
Employee Guarantee – any combination of WL/Term/Term ROP.
Ages 18 – 50 = $100,000 / Ages 51 – 60 = $75,000/ Ages 61 – 70 = $25,000
Spouse Guarantee Must work outside the home 20 hours or more per week
Ages 18 – 60 = $15,000 WL Products Only / Ages 18 – 60 = $25,000 WL/Term/Term ROP with stipulation that employee purchased on self. Non-Working Spouse can purchase
Ages 61 – 70 = Simplified Issue
Dependent Children Guarantee
Ages 15 days – 17 years = $10,000 WL Products Only
Ages 18-25 = $10,000 WL Products or $25,000 of Term/Term ROP.**
**Choose one of these options for Guaranteed Issue
Must be Full-time Students, unmarried, and not in the military.
Grandchildren
Ages 15 days -18 years = Simplified Issue Whole Life Products Only
In order to qualify for CTR, must be legally adopted