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good morning everyone this is Katie Novotny calling from premiere marketing wanted to thank everyone for joining us this morning we are thrilled to be rekindling a relationship that we've had for a long time with bankers fidelity I am thrilled to have our representative from bankers fidelity here Cory Jones to tell us a little bit about their short-term care product as a reminder as we go if anyone has any questions please feel free to type them in and we will either private message you back or address them right through the call so Cory ready to take away yes I am thanks Katie good morning and good morning all my name is Corey Jones director of partner relations with bankers fidelity thank you for joining us today I hope everyone is keeping safe out there like Katie said everyone's phone will be muted through the presentation but we hope you'll use the chat function if you have any questions need me to further clarify something or have something you'd like to add so all right today we're going to discuss bankers Fidelity's short-term care products Vantage recovery or review the product in full detail and we also like to share where this product could fit in your portfolio I'll share some of our online and marketing tools which will help you present in positions product and briefly touch on a couple of our agent incentive programs bankers fidelity talking about our story as an industry leader for over 65 years we're headquartered in North Atlanta got a peach tree Road address so in Brookhaven properly and license in 46 states and recently reaffirmed our am best rate of a - really I'm proud and excited about that you know our culture is one that really is itself the service we want our agents and policyholders to value the experience they have with us and we believe in integrity and we know it's important to be fluent I continuously work on innovation that's for employees or agents and or policyholders being with bankers fidelity a little over five years one of the things I mean one of the things I admire most is really our commitment to agents for agent agent focused and we're committed to helping you be successful so taking a brief look at our product portfolio we feature a Medicare supplement indemnity plan is cancer plans final expense and of course our short-term care let's get started so again our short-term care product is named damage recovery so did you know skilled nursing facilities can help people of all ages recover from illness or injury the population of nursing home residents is on the rise and actually getting younger and it's because of the increased need of short term care insurance uniquely bankers Fidelity's advantage recovery short-term care features issue ages from 18 to 85 preferred and standard issue aged unisex rates our application is simplified as seven questions and qualified applicants can get a 10% household discount the policy is guaranteed renewable for life and in most states of feature a restoration of benefits provision which allows the insurer to fully restore his or her benefits after being injury and confinement free for six months you could see in the diagram again whatever benefit you may choose and again this is in most states you might you have used a hundred and eighty day benefit again six months or two years later in this scenario confinement and illness and injury free you're able to restore this benefits to that four hundred eighty day benefit you originally purchased bankers fidelity's Vantage recovery short-term care offers the flexibility to meet your clients short-term care needs the daily benefit amounts begin at $30 a day and increase in increments of 10 10 dollars all the way up to $300 a day the benefit periods are 90 180 or 270 or 360 day options we offer the either a zero or Tony day elimination period and that's great because what no prior hospitalization is required extremely important more now than ever and really in the industry are the options to add the home health care and sensor first occurrence benefit writers so nearly one hundred and three billion dollars is spent on home health care in the United States in 2018 and that number is estimated to reach nearly one hundred and seventy three billion by 2026 so let's talk about how that home healthcare writer works once you satisfied the elimination period we will pay the actual charges assessed by home health care agencies up to not exceed the daily benefit amount to qualify for coverage if you're attending physician requires medically necessary nursing care due to an injury or sickness so a common question and a real real important point on this slide is again this is an up T policy up to year o the actual charges assessed so the asure is unable to also perform to or6 into a TLS sometimes it's two or five again the kicker here is unable to perform at least two of these activities of daily living another valuable writer option before this product is our cancer first occurrence benefit writer it allows you to package protection and pay a one-time lump sum benefit up to up to a $5,000 benefit keep in mind you'll likely prefer to write or standalone cancer plans but this is a viable option an opportunity to package protection and coverage for tier 4 your insurance Vantage recovery is available in 30 states and are only a few state variations that I can think of for example a state like Pennsylvania requires the home health care rider to be automatically included so it's not an option it's going to be a part of that policy in the package a state like Michigan only offers a 90 and 180 days benefit period so you only have those two options in a state like Idaho so it does not allow for a 360 day benefit most of the other states and products are similar the same there's a couple of restoration of benefits provisions and definitely happy to address any of those with you you so and as I mentioned before the seven question yes Cory sorry do you guys have an ETA on North Dakota I see that we do not know okay um no but I absolutely will get that to you Katie and make note thank you great question thank you and a lot of times with with going to market in these states and product approvals it's a matter of priority so usually I wait for that question for a partner like Katie and I'm like okay we'll get it done talking about submitting your business and underwriting with the short-term care product again it's a seven page application and you could take it by paper which you can email and fax it in or mail it in the e app is the easiest in my favorite way to not only quote the product but submit the business like any other carrier that innovation helps cut down turnaround times it's a more efficient complete up and you'll notice too on this product we offer preferred and standard rates not only are we going to consider medications that might knock you down the standard a build might not be down the standard and of course tobacco use will not be down to a standard rating but don't forget two of these policies in the same household will qualify you for a 10% household discount we do prioritize or ancillary cases in this case we're really trying to turn around any piece of business three to five days and the only reason you'll see of five days burner honest we might need a phone interview which for short-term care we really don't want you to do at the point-of-sale we're trying to eliminate those and again only it's really the exception not the rule so if perhaps we don't get a hit on an Rx or something it is a higher risk policy we might or a phone interview which will make you aware of completed typically between 24 to 48 hours upon application receipt you so I'd love to talk to you and sure again a couple sales opportunities let's set the stage for this product first so this is not long-term care in fact we feel vanaf recoveries a more affordable alternative solution to long-term care you know it's a little bit easier to qualify for and of course more affordable again individual citizens aged 65 and older have a 70% chance of needing some sort of long-term care insurance know there's a need how do we fill it let's talk a little bit more about the senior market it's ever-changing and even growing statistics show here and what in 2017 38 million people enrolled in Medicare currently there's 44 million beneficiaries we're expected to see that number rise to 79 million in 2030 years and 53 percent of Americans over the age of 65 report being less stressed as they get older what's this mean let's have more freedoms they're living a more active lifestyle during their retirement and and of course they need peace of mind protection here it says one in four workers expected to retire between the agency 66 and 69 but troubling no one could expect that 80 percent of people over 65 to have at least one chronic medical condition accidents can strike at any time and chronic illnesses occur more often as adults age this product again issue age eighteen eighty-five still seniors have worked hard they own the right to really have a peace of mind protection and reap the benefits of their retirement so everyone will say but wait right does it Medicare cover me I'd like to say easy correct answers or yes maybe and maybe not I believe a common misconception Medicare will cover the cost of nursing home care so hopefully you know Medicare may only cover short-term and home health care under certain limited conditions let's consider Medicare and of course a Medicare supplement so as you can see and I hope this looks familiar to you an outline of coverage where it talks about Medicare covering the first 20 days and obviously you can see at the bottom here Medicare my Medicare supplement may cover days 21 through 100 this is great but what if I need more care than 101 days what if I don't stay at least three days again admitted to the hospital what if I don't qualify this personal protection these are unique situations but I feel it's our job to understand them ask the questions that present viable solutions and that that need to be met with short-term care here's a bonus question really just for the group as you know if Medicare supplement covers these amounts what most Medicare Advantage plans cover so hey Cory according to Ruth yes sorry to interrupt so I'm getting a couple questions here back to the state availability we're asking are they're pending filings specifically I'm being asked the infamous Washington Oregon and California which we would all jump up and down if you said yes to any of these but do you know of any pending filings for state availability in this anything that we're waiting approval from the state or do you just not are they not filed or how does that work with you guys yeah they're not currently filed um you guys some states are not filed for reasons um like I said like Kansas which we all know I guess has never had a short term care product right others or you know how quickly can we get them approved and get them to market Katie happy to have a you know a priority conversation so long strategies and make sure these agents get what they need and again you know be transparent to what we can accomplish we're smaller company in here and we definitely depend and need your feedback to let us know what you need so I make middle note and I'll get you answers and you know expectations so yeah they're not not file okay perfect perfect Deline I have to agree with you I see your message out there why not Florida we all ask why not Florida we're just waiting for something to fall in that state so maybe we can get Cory to help so you know it's unique where this product fits for most Medicare clients but I feel there's a need for really anyone to have this peace of mind of protection so so according to a recent study the cost of nursing care is 235 dollars per day for a semi-private room and of course 267 dollars for a private room 20 days is the average skilled nursing care facility costs covered by others Medicare claims we we see that and that's been confirmed with the claims department um but forty-one percent this is a few key key key statistic here 41 percent of long-term care claims lasts less than one year 83% of these claims lasted way you're less were for home health care so excited that our product features a home health care writer and again right now again more important number it's a necessity for our clients in our community to have that option to get back on their feet in the comfort of their own home so we ever thought about what goes into a skilled nursing facility this is pretty unique to me and we see on TV the pictures of I like to say good and better homes but think about the quality of care what kind of care do you receive does your facility offer private or semi-private rooms you know are we are we pulling sheets between you know four to six people what's the quality of nursing services provided are different social services and group activities available to participate in what are the quality of meals snacks can the facility accommodate a special diet they have a laundry service telephone Wi-Fi or cable television you know this is um again something you want to consider on the quality of care and of course the amount of protection I have to meet these needs it's something you don't want to have to pick and choose the quality of care you get again I said hey this is ideal for Medicare clients it has a really nice fit with Medicare and Medicare supplement clients would feel benefits from their employees again this is not just for retirees and Medicare beneficiaries this is can be a gap at an employer plan it helps with the cost and expenses of short term the car became ten features a restoration of benefits so many comments our clients asked for I used it the wrong happens is it done is it you know how many chances so restoration of benefits is a key key provision on the product this could strike anyone of any age these extensions I think and be very financially overwhelming and a testimonial I saw once is even your your family members our family members who may want to take care of us but they're not knowledgeable enough to take care of us [Music] skilled nurses or you know do an important job again there's a need this is much more affordable and easier to qualify for the most long-term care policies in um you know better than me again this can be used in conjunction with a long-term care plan a lot of long-term care agencies short-term care to meet elimination periods or what have you so some flexibilities are some creativity available so more statistics for each year 300,000 people aged 65 and older or hospitalized for hip fractures every 40 seconds someone in the u.s. suffers a heart attack one in seven men and one in ten women age sixty sixty-nine and developed some form of invasive cancer 25% of people ages 65 to 74 have a disability strike striking numbers again we're in a position in a market to really help meet these needs and provide peace of mind and protection so you know when you're talking your clients ask questions don't just shows the statistics those are helpful but have a story a custom ileal alongside we all know how important it is to build a relationship establish trust identified a need and explain the features of these products and present solutions and of course damage recovery short term care is one so I'm talking about bankers fidelity and some of our online and marketing tools it should be known that our agent portal ads is the first test and number one digital tool and resource as an agent it houses our app our applications or pre-sales for sure inform it also features both bankers online training and our underwriting app tracker to track your policies submission and production through discharge hey Corey can i okay I've got a couple more questions about reciprocity portability so here's the first one is if a person has an address in a state not approved may I write them question basically love it itis state yeah great question take them over the state line our products will travel so um one if you just like a Medicare supplement for example if you buy it in a state you could take a date estate where you move so to your point yeah go over to state line right the product make sure the application is signed in the state
for which the agent is licensed of course um what she Nebraska for example on the Kansas resident comes over to Nebraska signs the application in that state can take it back home to their campus address and of course yes keep the policy okay the next one is going to be so basically so just to summarize I'm getting more questions on this just to summarize as long as the product is available in this site air in the site estate so where they sign and the agent is licensed in that state as well regardless of someone's address regardless correct of someone's residential address I have a really um I haven't Egypt I've been working with for since day one and she always says that a receipt with her applications because she's again uses his flexibility um if we don't require that of course for her peace of mind yeah she seized even clients over state lines and and capturing rates and and securing insurance and yeah that's some instability that is illegal it's written in our underwriting guide and it really it really isn't true for all of our products including short term care right questions London up so you do not eat less fear and a lot of yes yes um imagine an app um you know agents or license and five ten fifteen one sometimes 50 states rate so year don't happen in that state but we have to be careful and cautious to make sure that's the proposed insured is physically in that state so we know that you know IP addresses you know capture information and we want just make sure or we're dodging eyes crossing T's and making sure that you know the applicants and physically in that state will take care of the rest that's all we're looking for and that's just you know DOI rules okay okay great direction isn't thank you well it wasn't me thanks for even so second one is going to be is there a limit on how many times restoration would be available yeah that's really shapes yes it does vary by state um so and I'll outline this for you Katie and some follow-up notes that you can send out to the group so what is true for every state restoration benefits can only be performed once so you can use your initial coverage once restore benefits after six months some confinement injury and illness free and then again restore those benefits there are a handful of states and it can outline that for you because I don't have a memorized where you can't fully restore benefits you can only partially restore them um trying to think of a good example or I think Idaho's estate where again if you were to get a 270 day benefit and exhaust that and then of course goes six months confinement free Idaho swingin allow us to restore benefits up to a 90 day benefit don't quote me on that but again I'll outline that for you and there's a handful of states which have those this asterisk next to them great question perfect okay I think we're good for now anyone else have questions please feel free to type them in great questions all thank you again looking at this page agent portal ads is really the first best resource upon coming in and being a baker so they'll be agent if you're going to point it with us the first thing you'll get is a welcome letter with your writing numbers and login credentials we use your individual npn as your user ID and of course not teams here help you know willing to help you get logged in to point click access to all you need so when you log into ads when the game you might have time they should give you a little quick test drive you'll see some of the best creative marketing material in the business our creative departments in-house Liana they do a great job and here on capture a couple of images and again I'll share this with you our product guide on the Left which outlines kind of a scenario and how the product works and some of the features of benefits like the restoration and a home health care writer in a cancer first occurrence benefit writer and on the right of course our sales brochure a lot of agents like uses as a folder are going to leave with their claim of course our people is a score again I am their appointment we've also teamed up with Vistaprint corporate to create marketplace this is this is really huge I wish more agents like the bands of this that they're probably doing some shape way or form but it's what it's it's pre-approved marketing content to help you where I like to validate your intentions that presented clean professional marketing piece my favorite are the postcards you can see here only on the top right you can customize these with contact info your web address your logo if you have one there's postcards for annual policy reviews you can do seminar follow-up plyers it some creative marketing ideas and it can you'll appreciate this pre-approved concept that we're going to we're going to sign off on I mentioned innovation earlier and don't think I have sound but I want to show you a really cool video it's only 75 seconds we might not watch all of it but this is our short-term care video and this could be used to present the product um to email a client you could use this on the follow-up to solidify yourself after policy delivery but it's a very creative animated illustration which can paint a picture and again adds value to the sales process um and again I like using it we had this for a couple of our products and I think it's a great fit for great fit for for that X a decline pulling up on your phone put it in email put it in Apollo thank you email to your client after they choice business with you or hey maybe it's a great cross selling tool Cory I have a request that maybe we can send this to people on with recording so do you have a link that you can send us that we could provide this for people as well sure do happy to share it um re app again is the first best resource to really quote this product we are in development actually probably going to produce later this week in EF webinar so you'll be able to again point and click and see how to use Baker's Fidelity's brand new yeah we all again nowadays it is in her mouth that you have the electronic capabilities to enroll clients not going to pull it up an essence of your tongue which I appreciate but definitely feel free to give us a call or contact us if you have any questions you know finishing up here and still welcome any and all questions you may have I got some month to do these on my list I want to talk about agent incentives and at least in the competitive Commission's we won't want to earn your business short-term care and all of our Hansel area products are important to us and we want to get an additional incentive so it's called after reward and again it's a $50 application bonus for each policy issue so you can it's a five policy kicker so that means what you can redeem 5 out 5 after rewards or 50 after rewards but no less than 5 sub agents will bake this for dota X season or holidays or you know our vacation what they mean obviously what we like to do is to reinvest in themselves in their business or whatever they seen fit so again after reward is available been available we'd love you to take advantage of it bankers fidelity it's out of her truly an agent focus company offers what is the premise craft is a trip of a lifetime partners like premier and and of course carriers abound all have conference trips but we really really stress these that we have one of the best in the industry this year it is to London you can see the qualification period through October and our CEO really really tries to one-up himself to take care of these agents as we do value and appreciate your business we're one of the few carriers maybe the only carrier that does not 1099 agents upon qualification it is a true conference or our sales meetings but we want you to enjoy with no detail left uncovered so this is for you plus one all expenses okay okay we just want to thank you for your business you could see some of the numbers here for agents in the different production criteria it's not too late you know our ancillary products are 300% we will have agents that qualify specifically on just again celerity business and of course contract dates you could be prorated so typically annual production requirements are 135,000 if you have any questions of course ask ATS myself happy to help Katie this is my last slide again want to thank you for the opportunity and the questions really really well we've we've we've got the we've got a bunch of questions so I have a funny feeling these qualification requirements might be applying to quite a few of these guys and gals on the phone so the first one I've got for you ready is well you have a cashback option like a return a premium a returned a premium on the short-term care it's again it's use it or lose it one of the most popular questions I get is okay I got a $300 I'm paying for a 300 log benefit but my room charge is only $200 yeah we're going to pay 200 on that benefit and it's you know other hundred dollars is lost if you will so I think that's a unique difference on our product in that overall long-term care market so hope that answers the question absolutely next question is just a refresh this plan is only homecare only facility care and how does how is it use in a care or a an acute care facility okay so this is another really popular question that we want to get to the policy language on the outline of coverage so at the foundation the policy covers skilled nursing facilities so as long as the facility in licensed by the skilled nursing facility with skilled nurses that's what we're looking to cover when you add the home health care writer it opens up you know that door um where you have the choice to either go to a skilled nursing facility or take advantage of the home health care up to your policy limits the same benefit so it's not two different buckets the home health care writer gives you a choice again between going to a skilled nursing facility and again when that writers are added for additional premium yeah you have the choice to go to one or the other perfect another one how do you quote the product did you send out and you confirm that did you quote the product using an app absolutely so I usually go through a presentation of our EF including the product I'm happy to Katie but I wanted to hold off on the in essence of time but we have a great book for you know pre calculated monthly pink trapped rates it's heavy but everything you might need is in there and of course we can mail those to you or email them to you take a look at or what I recommend is your login to our portal you put in what a few few factors and Kady you and I have done this and you quote the product so it's in our portable it is an e app and the e app enrollment application it's a quoting tool before you even get into the app so it's going to ask you a date of birth on benefit amount benefit period elimination period whether you want to home health care or cancer first occurrence benefit writer preferred or standard grades and of course you can calculate whatever you'd like perfect and I'm and also I want to take this opportunity to anytime that you have questions on the quoting or anything like that please feel free to give us a call here at premier we're happy to run the quotes we can walk you through the software get you access make sure you're good to go if you're out in the field so please definitely take the opportunity to give us a call a couple more for us is the home health care benefit is the same as the facility benefit so basically is there a hundred-percent home care benefit to the facility rate that's correct so um if you elect a hundred eighty Days benefit period two hundred ollars a day again um when you are going to claim the policy you got the choice between going to a skilled nursing facility or home health care up to those policy limits and again it's your choice a really good question of Katie asked me once is can I go to both during that same period yeah you know if you CC ham I'm at a skilled nursing facility and I wanna you know finish my recovery at home you have during that lincoln car period yeah I can do that but there's no percentage of coverage depending on which Abadie you go skilled national facility or home health care it's you know two two occurrences given the restoration of benefits up to your policy limits whatever is about doctors deems necessary perfect another one are their pre-existing exclusions on this product oh no actually that's a really good question its own it's outlined in the policy so and that's the case with with a lot of our products you know if you make it through underwriting um yeah everything's covered that's a real good question with a short term care another one is how does the medical necessity requirement work that's a great question of with the so one of those movies key gatekeepers is again not only are we looking at two of the six ADL's but a got a doctor seems medically necessary that you you need skill you know skilled nursing care um and that's it you're getting treated exactly break a hip and you need to recover um it's you know to a doctor's discretion that you are going to need medically necessary care um should not have much issue then given the eighty poem fire but that's some trying to oversimplify it that's that's what we're looking for that dr. Gaines it necessary wonderful well Corey I think we did it I can't thank you enough for the time thank you everyone for joining us I really appreciate it like I said feel free to give us a call shoot an email you know the number a premiere is eight hundred three six five eight two zero eight just ask for the long-term care department would be more than happy to help you and at that I wish everybody a great day and stay safe out there and thank you again Corey I appreciate your time thanks Katie take care everyone goodbye
