Product Knowledge
Lead with Americo, and learn how to pivot if needed.
Phone Numbers & electronic applications:
Americo: 800-231-0801 🚀(eApp)
Aetna/CVS: 866-272-6630 🚀(eApp)
Mutual of Omaha: 800-867-6873 🚀(eApp)
John Hancock: 877-606-7779 🚀(eApp)
Prosperity: 855-321-2755 🚀(eApp)
American Amicable: 800-736-7311 🚀(eApp)
TransAmerica: 877-234-4848 🚀(eApp)
AIG: 800-247-8837 🚀(eApp)
Global Atlantic: 855-887-4487
Athene: 888‑266‑8489
CFG: 800-423-9765
Foresters: 800-828-1540
This “how-to” video explains every major product we offer. This will give you enough product knowledge to feel comfortable enough to get in the field and perform like a boss.
We want to make this clear: Product knowledge is 5% or less of the business. Just get a broad enough understanding and send a group message to your uplines so they can help you throughout the process.
Use the Cheatsheets & Medication Checklist in every home with less than perfect health history. With time the medications will become repetitive and you will know which way to go without asking or looking it up.
Product Breakdown
PRO TIP: LEAD WITH AMERICO IN EVERY HOME!!!
(YOUR GO-TO CARRIER)
Eagle Premier (WHOLE LIFE: Final Expenses, Critical Time Period for Senior Mortgage)
Available for healthy to moderately healthy clients, ages 50-85.
Death Benefit ranges from $2,000 to $30,000.
Level benefit: rates will never go up.
The policy lasts up to age 120.
Policy example: $10,000 death benefit.Terminal Illness of 50%: $5,000 in this example.
Most States offer Critical and Chronic Illnesses as well (Check to see which states do not)
If the client dies in an accident, face value grows to $20,000. (2x Accidental)
If the client dies in a “Common Carrier” accident - the face value grows to $30,000 (3x Common Carrier)
Term100 - This is a fixed and level Term policy that offers a face value of up to $250,000 without any saliva or urine samples. Term policies of healthy to moderately healthy clients up to age 70.
Term125 offers an additional 25% face value on accidental death, while Term100 only offers original face value in all cases of demise.
Level Term benefit; pays whatever the chosen Face Value is
Term125 adds Additional 25% for Accidental Death, + An additional 25% for Common Carrier Death
example: $200,000 Face Value= $250,000 in Accidental Death,
$300,000 in Common Carrier Death
CBO100 (Cash Back Option) {Probably one of the coolest products ever!} -
Your client will receive an extra 50% on top of the face value in case of accidental death ($200K policy becomes $300K), and 2x the Face Value if death was caused by a common carrier ($200K policy becomes $400K).
In addition, the client will receive 100% of the paid Premiums back (or 50% if you choose CBO50) if THEY DO NOT DIE and survive the term. The CBO100 policy works like a “Glorified savings account”.
All Term products with Americo (Term125 and CBO100) have a 100% Terminal Illness rider
If the client is diagnosed to be terminally ill and has only 12 months to live (with proof of a doctor’s note), then Americo will pay an advance while they are alive to use for treatment).
Your State Might Have Critical and Chronic Illness Riders as well (CA does not).
Aetna / CVS
Aetna Accendo - Aetna should be your runner-up Final Expense / Whole Life carrier when your client does not qualify for Americo- Eagle premier. They have Super-Preferred, Preferred, Standard, & Modified Plans Available. No height and weight charts are required; we no longer have to worry about clients who are under age or overweight. Also, COPD is standard level- so we can now get our client with COPD standard rates with day one coverage for just a little bit more than the preferred rate.
The level plan comes included with an accelerated death benefit Rider. Make sure you check that off on the application to add the optional accidental death benefit rider- it will cover the clients ages 40 - 70 if they die in an accident & pay double the death benefit.
Issue Ages = 40-89
Face Amounts = $25,000 to $50,000* (max issue amount depends on client’s age)
American Amicable
Senior Choice (WHOLE LIFE) - This is their final expense product. Very competitive and great features. They have 3 different rating options for clients.
Immediate - also known as a level death benefit, means the client is covered for the full death benefit on day one.
Graded - AmAm's Graded is different than most companies Graded. They do a 30%/70%/100%. Meaning in Year 1, they will give you 30% of the death benefit if a client passes away. This is usually higher than most company’s 110% death benefit during the first two years. If the client passes away in year 2, 70% of the face amount, year 3 is the full death benefit.
Return of Premium - This is what most people know as "graded". If the client dies within the first 2/3 years (Depending on age range, it is either a 2 or 3-year wait), then the beneficiary will receive 110% of premiums back to them when a client passes. After year 3, it is a full death benefit.
Term Made Simple, Easy Term, or Home Protector (TERM, 10-30 years)
Prosperity
Prosperity New Vista- Prosperity is also a good second option to clients that were declined by Americo Eagle premier. Unless the client has life-threatening conditions like cancer, hospice, aids, terminal illness, kidney failure, etc.… then you can use Prosperity New Vista as an excellent whole-life pivot.
Polices range from $5,000 - $35,000, for clients ranging from 50-80 years old. Two great things to mention about Prosperity is they cover clients that do not have a bank account and only a direct express, also show you the medications that are questioned on the MIB report. You can see exactly what medications are concerning, you can confirm the reasoning for the medication and get people qualified with less-than-perfect health.
Final Expense Underwriting Guide
Term Made Simple- This is one of the best Simple Term Products in our arsenal.
AIG - American General
Guaranteed Issue Whole Life (GIWL) - This product is our safety net. It takes clients between the ages of 50-85, the face amount of $5,000 to $25,000. THIS IS GUARANTEED INSURANCE: No questions asked… EVERYONE IS APPROVED IF THEY HAVE THE MONEY TO PAY FOR IT. Current or recent health issues do not matter.
This policy has a graded death benefit of 2 years. Graded Death benefit means If the client dies during the 2-year time frame, the beneficiary will receive 100% of their monthly premiums back, PLUS an additional 10% (110% of their cashback).
After 2 years, the client will receive the full death benefit chosen. Rates are amazing for GIWL (Guaranteed Issue Whole Life), sometimes competitive with LEVEL death benefits.
Simplified Issue Whole Life (SIWL) - This product is a great alternative for clients that still have a good/great bill of health. NO MAJOR conditions are accepted level. Only common maintenance medications for HBP, Diabetes, Cholesterol, etc.
Mutual of Omaha
Living Promise (Whole Life) - This is their final expense product. Has an instant decision and an e-app. But can be written on paper as well. Straight death benefit, accidental and other riders have to be added on.
Term Life Express - This is their term product without an exam. TLE also has a return of premium rider (cash-back option, under 55) if added. Is also a paper and e-app, but does not have instant decision capability.
Guaranteed Advantage (Accidental Death) - For clients 70 and under. This is an Accidental death policy that only pays out during an accident. Coverage ends at age 80. For younger clients, they also offer an ROP of 75% of premiums paid if the client services past policy maturation date of 80.
Children’s Whole Life Policy - Children ages 0 -17 are eligible for their own personal whole-life policy, with face values up to $50,000. Most policies are very inexpensive: ranging from $12 - $30 a month
IULE (Indexed Universal Life, Express) - A great option for very healthy clients between the ages of 60-70. There are plenty of benefits that come with this policy:
Simplified issue Eligible up to 70
25,000 minimum face value, up to $150,000
Indexed 6.13% annual earnings- vs. 4.2 % foresters smart ul average (0% percent floor)
Living benefits: Chronic, critical, terminal
There is a level premium for 20 years - then you can “Easy Solve” up to age 100.
Can act as a Return of Premium product; develops cash value up to 100% of premiums paid you can borrow against in time.
Transamerica
Transamerica’s (Immediate Solutions [I.S.]) is hardly ever used. It is a niche policy for clients wanting a whole life product ages 18-40 instead of a Cash-back-option to become self-insured.
** Good thing about Transamerica is they take clients who only have Direct Express cards… and still pay us an advance!
John Hancock
John Hancock Vitality Term is a great term product to go to for 4 reasons:
They Accept clients with Diabetic complications such as Insulin dependency over the age of 40.
They are a simple term that allows up to $500,000 without any mouth swabs or urine samples
They offer a 75% cash-back offer for clients under 60,
Being an electronic-only based business (where your policy is emailed to the client), They offer a lot of member benefits and discounts such as Shopping discounts at grocery stores, Amazon prime membership, an Apple watch for $25 bucks, and up to 15% premiums back check every year to the client that follows the Vitality program.
Being a simple term, The Vitality program does not offer any living benefits or accidental death rider. It is purely a term policy with a death benefit.
Remember: Always lead with Americo. If the client has light complications and gets denied for an Americo product, or wants more than $250,000 without a saliva swab (JH offers up to $500K), then John Hancock is the next best Term product in the lineup.
Vitality Term Qualification Guide