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Why
Offer Cincinnati Life’s
Voluntary Worksite
Life Products?
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•
•
Competitive Products
Total Account Development
Personal Service
•More than 1 in 4 men have no life insurance coverage at all and almost two thirds of men ages 18 to 24 have no life insurance.
• Almost 1 in 3 women have no life insurance coverage
at all and about half of women ages 18 to 24 have no life insurance.
• Today, insured adults are more likely to have only group life
insurance obtained through the workplace. Adults with only
group coverage carry the lowest amounts of life insurance.
The workplace is the second most common place to buy
life insurance. Offering voluntary products at the workplace
is a cost-effective way to help these individuals secure the
protection they need for themselves and their family members.
Competitive Products
The Program
Worksite marketing is a great
opportunity for you to bring the
benefit of professional insurance services
to employees through the workplace. This
program is completely voluntary; employees
decide whether to participate or not.
Employees can purchase coverage on themselves,
their spouses, children and grandchildren.
Employees pay premiums through the
convenience of payroll deduction. Since the
employee doesn’t have to write a check to pay, the buying experience is relatively painless.
Many U.S. Households
Continue to Be Underinsured
A September 2008 study by LIMRA International
indicates that:
• One third of adults in the United States carry no
life insurance at all.
• Universal Life
• Whole Life
• 20-year Term
Total Account Development
Increasing competition in the insurance industry has spurred
agents to find new ways to keep your clients satisfied.
Cross-serving is the least risky, most profitable action your
agency can take. It does more than generate easy new sales. It
also helps keep your competition out of the picture. Some of the
advantages of cross-serving are:
• Strengthens customer relationship
• Grows business
• Enhances retention
Personal Service
Your success in this market is important to us! We can help you with:
• Headquarters and field seminars
• Employer presentations
• Employee presentations
Products and riders are available in most states.
This is not a policy. For a complete statement of the coverage and exclusions, please see the policy contract.
CLI-8582 (2/10)
For Agent Use Only
• Enrollment support
The Cincinnati Life Insurance Company
Worksite Marketing Program
Products
List Bill
Whole Life
• Unisex and unismoke
Underwriting Requirements
Universal Life
• UL1 unisex and unismoke
• UL2 unisex and smoker/nonsmoker
• Minimum of five participating employees required for list billing
• Individual LifeHorizons products can be issued with full
underwriting and included on the list bill
20-Year Term Life
• Unisex and smoker/nonsmoker
Optional Riders
• Future Automatic Increase Rider (UL only)
– Death benefit automatically increases on first five policy anniversaries
– Premium increases $1 per week on first five policy anniversaries
– No premium cost for rider
• Accelerated Benefit Rider
– Enables policyowner to receive up to 50 percent of death
benefit if diagnosed with a terminal illness that will result
in death in less than 24 months (varies by state)
– No premium cost for rider
• Children’s Term Rider
– Term insurance for insured’s present or future children who
qualify for coverage
– One premium covers all children, stepchildren or legally
adopted children ages 15 days to 18 years
– $10,000 of term insurance
– Convertible at anniversary nearest each child’s 25th birthday for up to five times the initial amount of
insurance without evidence of insurability
• Accidental Death Benefit Rider
– Pays an additional benefit amount for deaths that result
from an accident
– Equal to the initial amount of insurance
• Waiver of Premium Rider (WL and Term only)
– Waives premium if totally disabled for four consecutive months
– All premiums paid from the first day of total disability are refunded
Determining Eligibility
• Simplified Issue
– Employee, when group doesn’t qualify for guaranteed issue
– Spouse, children and grandchildren
– Children’s Term Rider when group doesn’t qualify for
guaranteed issue
– Amount above guaranteed issue
• Guaranteed Issue
– Requires approval from life field marketing representative
– Requires mandatory one-on-one meeting with each employee
Guaranteed Issue Guidelines
Eligible
Employees
UL1/UL2/WL
Guarantee
15 (WL only)
$2/week
50-74
$3/week
75-99
$4/week
100-149
$5/week
150-249
$7/week
250+
HQ Approval
20-Year Term
15-24
25-49
50-99
100+
$25,000
$50,000
$75,000
$100,000
Re-Enrollment
• 90 days prior to re-enrollment, the agent and life field
marketing representative each receive a reminder and in-force policyholder report
• Guaranteed issue must be authorized again before each re-enrollment
• Employee, spouse, children and grandchildren
• Employee is not required to purchase life insurance on self in order to cover eligible family members
Products and riders are available in most states.
This is not a policy. For a complete statement of the coverage and exclusions, please see the policy contract.
CLI-8582 (2/10)
For Agent Use Only