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Humana Financial Protection Products

Humana’s March Toward Consumerism. Humana Financial Protection Products. HFPP Product Presentations: Memorial Fund Cash Critical Illness Plan Hospital Cash Plan. Agenda. Memorial Fund. GCA07TAHH 2/10.

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Humana Financial Protection Products

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  1. Humana’s March Toward Consumerism Humana Financial Protection Products

  2. HFPP Product Presentations: Memorial Fund Cash Critical Illness Plan Hospital Cash Plan Agenda

  3. Memorial Fund GCA07TAHH 2/10

  4. A whole life insurance policy designed to offset final expenses Issue age 45-80 (nearest age) Benefits in $1,000 units up to $25,000 Benefit Options: Immediate Graded Death Payment Options: Life 10 year 7 eligibility questions Issue age: Age of “nearest” birthday on policy effective date. Memorial Fund - Unique Product Features

  5. Memorial Fund also offers a graded death benefit with guaranteed level premiums and a guaranteed level benefit after the third policy year. The graded death benefit is a % of the policy face amount during the first 3 policy years as follows: 25% during the 1st policy year 50% during the 2nd policy year 75% during the 3rd policy year 100% of the requested face amount thereafter Memorial Fund - More Than a Whole Life Plan If death is due to an accident in the 1st 3 years, the benefit Is 100%. Note: Not available in all states

  6. Memorial Fund only requires a simple application with a few health questions. No Medical Exam You may qualify even if you’ve been declined for other life insurance Memorial Fund - Simple To Qualify

  7. Critical Illness Cash Plan

  8. The mean lifetime cost of ischemic stroke in the U.S. is estimated at $140,048. This includes inpatient care, rehabilitation and follow-up care necessary for lasting deficits.* On average every 40 seconds someone in the United States has a stroke.* On average 1 in 2 men and 1 in 3 women will be diagnosed with cancer during their lifetime. * Critical Illness Cash Plan Uncertainty can threaten from out of the blue! If you or a loved one suffers a critical illness, you could face significant out of pocket expenses. * Source: 2009 Heart Disease & Stroke Statistics, American Heart Association ** Source: Cancer Facts & Figures 2009, American Cancer Society

  9. The Critical Illness Cash Plan provides lump sum benefits paid directly to your client for a covered critical illness such as: Heart Attack Stroke Cancer Peace of Mind is Important

  10. Benefit level to age 70 (50% decrease after 70 for benefits but premium remains level) 30 Day Free Look Simple, lump sum payments to insured Optional Return Of Premium Rider (ROP)* Policy Provisions Issue age: Age of last birthday or “current” age. • Issue Ages 0 - 69 (may vary by state) • Individual 18 – 69 (may vary by state) • Minimal Underwriting • Guaranteed Renewable *May vary by state

  11. 18 – 29 30 – 39 40 – 49 50 – 59 60 – 64 65 – 69 Dependent Children: 0 – 17 Dependents age 18 at time of policy issue must apply for individual coverage as they are not eligible for dependent coverage. Age Bands Issue age: Age of last birthday or “current” age.

  12. Base Policy Benefit Choices… Lump Sum Critical Illness Benefit * $5,000 to $50,000 ($5,000 units) * Maximum coverage: $50,000 Critical Illness Cash Plan $100,000 total in-force Kanawha coverage

  13. Plan Options: PLAN 1 Vascular Cancer Other Illness PLAN 2 Vascular Other Illness PLAN 3 Cancer (Only) Flexible Plan Choices

  14. Coverage For You and Your Family Coverage Options: * • Individual • Couple • Single Parent • Family • * Child(ren) coverage available at 20% • of base policy benefit - Max. $10,000

  15. Optional Benefit Choice… Return of Premium Rider (ROP): • 100% of premiums returned at the end of the 20th year provide no claims are filed. • ROP rider Continues (recycles after 20 years)* • If claim occurs, ROP is removed and premium reduced to base policy premium. * May vary by state.

  16. Eligibility • Answer all questions on the application • MIB and Rx Screen • APS (ages 60 plus and at underwriters discretion) • Must meet build requirement

  17. A loss otherwise insured by this policy is not covered if it occurs within 30 days after a covered person’s policy effective date. Waiting Periods

  18. The cash payment can be used in any way your client desires The cash payment is in addition to any other insurance coverage Simple and Easy Benefits

  19. Minimal Underwriting No medical exam No telephone interview Just complete the application! 7 multi-part questions Easy To Apply

  20. Hospital Cash Plan

  21. During 2005, an estimate 115.3 million visits were made to hospital emergency departments about 39.6 visits per 100 persons. Infants under 12 months of age made 91.3 visits per 100 infants. This represents about 3.8 million visits. U.S. Department of Health and Humana Services, Advance Data, June 2007. Hospital Cash Plan - Is there anyone you know… …who hasn’t been touched by an accident, injury or sickness? If you or a loved one are hospitalized, you could face significant out of pocket expenses.

  22. The Hospital Cash Plan provides lump sum benefits paid directly to your client to help offset unexpected out of pocket expenses Associated with: Hospital Confinement Outpatient Surgery Accidental Injury or Sickness Hospital Cash Plan - Peace of Mind is Important

  23. Just a few health questions Issue Ages 0-69 may vary by state No Underwriting Guaranteed Renewable to age 70, terminates at renewal after 70th birthday 30 Day Free Look Simple, lump sum payments to your client Do not sell with HSA Hospital Cash Plan - Policy Provisions Issue age: Age of last birthday or “current” age. Plan Types: • Individual • Single Parent • Family

  24. 18 – 44 45 – 54 55 – 64 65 – 69 Dependent Children: 0 – 17 18-44 female is in child bearing years so watch for price differences Children can receive individual policy if parent(s) are ineligible. Dependents age 18 at time of policy issue must apply for individual coverage as they are not eligible for dependent coverage. Hospital Cash Plan - Age Bands Issue age: Age of last birthday or “current” age.

  25. Lump Sum Hospital Confinement*: $250 $500 $1,000 $1,500 $2,000 Max. Coverage: $2,000 for all in-force policies * Maximum of one confinement per insured per calendar year Hospital Cash Plan - Base Policy Benefit Choices

  26. Lump Sum Accidental Injury And Sickness*: $150 per emergency room visit Max. occurrences per calendar year: Individual: 2 Single parent: 4 Family: 6 * Emergency room visit must occur within 72 hours of accidental injury. Hospital Cash Plan - Base Policy Benefit Choices (cont’d)

  27. Hospital Cash Plan - Base Policy Benefit Choices (cont’d) • Lump Sum Outpatient Surgery*: • $150 for Outpatient Surgery • Max. occurrences per calendar year: • Individual: 2 • Single parent: 4 • Family: 6 * Only one lump sum benefit will be paid if multiple surgeries occur within the same admittance/visit.

  28. Hospital Cash Plan - Optional Benefit Choices • Hospital Confinement Daily Benefit Rider: • $50 ($200 ICU) • $100 ($400 ICU) • $200 ($800 ICU) • Max. Coverage: • $200 for all in-force policies * Maximum of 30 days per a period of confinement resulting from injury or sickness

  29. Cancer, hernia(s), adenoids and appendix or tonsils – (6) months unless treated on an emergency basis. May vary by state Pregnancy and Childbirth (10 months) May vary by state No benefits are provided or paid under this policy for care or treatment of any covered person donating an organ occurring during the first (12) months from the date of policy. May vary by state Hospital Cash Plan - Waiting Periods

  30. The cash payment can be used in any way your client desires The cash payment is in addition to any other insurance coverage Hospital Cash Plan - Simple and Easy Benefits • Travel to specialist • Co-pays, deductibles • Lost wages

  31. No medical exam No physician statements No telephone interview Just complete the application! 6 multi-part questions Hospital Cash Plan - Easy to Apply

  32. Questions?

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