VIEWS: 6 PAGES: 6 POSTED ON: 4/9/2012
THE-OTHER-GUY (slide 1) I’m here today to talk and educate you on a product most of you have probably never heard of. But, before we get into that, by a show of hands (if pitching a group) how many of you have or have had health insurance? (wait for most to respond and then pick someone out in the crowd) Why do you have health insurance? (response should be something to the effect of…so I don’t end up with a huge bill if something happens…if they don’t say that then add it to the conversation yourself and get them to agree) (slide 2) By nature we are programmed to think nothing bad is going to happen to us aren’t we? But, if it did you wouldn’t want to be turned away from the hospital or end up with a huge medical bill you couldn’t possibly pay off. (slide 3) In America today, 62% of bankruptcies are medical related and the real shocker is most of those had health insurance. How can that be you might ask…right? (They should nod in agreement) (slide 4) Health insurance is designed to pay a major portion of the Dr. and hospital bills leaving you with a deductible and co-insurance. Most people pick a deductible and co-insurance they think they can handle if something catastrophic were to happen, and of course monthly premium plays a factor in the decision and unfortunately that’s where most people leave it. We have health insurance so we’re good. Now like I said in the beginning (I’m/We’re) here today to share something with you most people don’t even know exists. (slide 5) How many of you know someone in your circle of family, friends, co-workers who have had a cancer diagnosis or heart-attack or even a stroke? (wait for the general response from most and point someone out and ask) Financially speaking, it wreaked havoc on their life didn’t it? (Wait for responses and acknowledge each) (slide 6) How many were forced to accept local care because they didn’t have the financial means to seek out the best Drs. and hospitals? Now, if this person were you, and you had a diagnosis of a very rare type of deadly cancer let’s say, are you going to accept the local facility, or are you going to find the absolute best place to go, because let’s face it you’re life is on the line… isn’t it? (slide 7) The American hospital association puts out a pie chart showing the percentage of hospital admissions when deductibles and co-insurance came into play. 68% were because of a critical illness…18% were due to an accident. The remaining 14% were other reasons. NEARLY 7 OUT OF 10 ADMISSIONS WERE DUE TO A CITICAL ILLNESS!! Now earlier (most of you/you) stated you have health insurance just in case something was to happen. This is precisely why (I’m/we are) here today. (slide 8) You see, health insurance takes care of 2 of the (3) (emphasize 3) things you need to concern yourself with. The 2 obviously are the Dr. and the hospital. (Do you/how many of you) know what the 3rd is? (slide 9) It’s YOU! (Smile as if you just saved their life, they should seem enlightened at this point or so to speak a light went off in their head) Unless you have seen it first hand, you have no idea how devastating a critical illness can be on people’s finances! Unfortunately, most won’t think far enough ahead and consider the consequences of not being able to produce an income for 6-24 months. (slide 10) Without a plan, you will be forced to dip into some sort of lifelong retirement savings. Such as 401k, IRA, college tuition for your children and in most cases depleting your savings all together. The irony is, this should be a joyous moment. The doctors just saved your life. The truth is you’re thinking I never thought I would have a heart attack what are we going to do now, am I right? (This is a pivotal point in the presentation…they have to FEEL the pain of dipping into and possibly depleting any kind of savings) We are here today to make certain you’re given the opportunity to have a plan in place BEFORE something happens. The American Heart Association states 1 in 2 will suffer a critical illness by age 56, look left and then right, can you tell who it might be? Perhaps you need a mirror! You are also more likely to have a critical illness than die by age 65. Staggering percentages aren’t they? (The way you say BEFORE sets the feeling of URGENCY) (Slide 11) Critical Illness Insurance is designed to pay out a single lump sum cash benefit days after a diagnosis. Payouts range from 5,000 up to 500,000…you decide your specific need while you’re still healthy. Here are some things to consider, do you Simply want to maintain your lifestyle? Pay off debts: automobiles, credit cards? Maybe pay off your mortgage! Keep your business afloat during your absence. Everyone’s need will be different, but one thing is certain…There WILL BE A NEED right? (Get a SOLID tie down at this point before going any further, they MUST agree there will be a need) (slide 12) All of us have different types of insurance for the what ifs in life. Car insurance in case of an accident, home owners for all kinds of reasons such as fire, natural disaster etc. Life insurance for the family you leave behind and now living insurance in case you don’t die. (slide 13) Critical Illness Insurance was created by a doctor who argued “he could heal a man medically only to lose him to financial stress” So Dr. Marius Barnard sought out to persuade the insurance industry to create a program that paid out a large lump sum of money on DIAGNOSIS rather than death in the form of a living benefit. Finally in 1983 the first critical illness policy was launched. (slide 14) In countries around the globe critical illness insurance is widely accepted. Places like The United Kingdom 1 in 8 have a policy, it’s nicknamed dignity insurance, meaning if a critical illness happened to you, you would want to maintain your dignity and not have to beg and borrow from family and friends. In Canada it is 1 in 6. (Slide 15) In the U.S. about I in 325 (be dramatic with 325) have this type of coverage. It’s not because Americans don’t see the value, it’s because they’ve never heard of it. (slide 16) There are hundreds of millions of Life Insurance policies in the U.S. today and most are simple term insurance. If a guy has a heart-attack or cancer diagnosis at age 47 and survives how much will his life insurance pay out? Zero, RIGHT? So wouldn’t it be fair to say that a critical illness policy that pays a LIVING benefit when you didn’t die is just as important as life insurance, IF NOT MORE? I know you would agree with that right? People are living longer and surviving things that would have been deadly just a few decades back. Which is why term life insurance has gotten so cheap. (This is a very strong persuasion statement, make certain they get it and their eyes didn’t just gloss over) (slide 17) All Critical Illness policies cover the big 3: Cancer, Heart-Attack and Stroke. (slide 18) And they vary on the other conditions and those are: Major Organ Transplant Coma Kidney Failure Paralysis Loss of Limb Major Burns Blindness Deafness Bypass Surgery Advanced Alzheimer’s Disease Heart Valve Surgery Terminal Illness Angioplasty And even Death (slide 19) People are just faces in the crowd if you don’t know them personally, but every 26 seconds someone’s life changes FOREVER! Out of the 2 million plus people who suffer a critical illness each year in the United States 2 words were always at the forefront of the story told by loved ones: (Slide 20) SUDDEN and UNEXPECTED! (Pause and give them a moment to reflect.) The personal comment is usually something like; I just didn’t see it coming. This is known as the normalcy bias. The assumption is made since a disaster never has occurred then it never will occur. It also results in the inability of people to cope with a disaster once it happens both mentally and financially. If you have a plan in place great. But if not, THE-OTHER-GUY can keep a medical catastrophe from becoming a financial meltdown! (slide 21) Most Americans could protect their families financial well being for about the price of a cup of coffee a day! (Say it in a way so that it seems ridiculous not to protect your future for such a low price) Understand this if you have a short term or long term disability policy or a standalone cancer plan or any other type of supplemental coverage, great, but they ALL have holes and restrictions with them. Such as: waiting periods, percentages, pay per service, days in the hospital, elimination periods all of which keep you from receiving benefits in a timely manner. A lot of them are indemnity plans which means you pay the bill and they reimburse you at a later date once they’ve received your receipts. Now does that sound like something you want to go through at your worst moment in life or would you rather have a critical illness policy that doesn’t care what procedures you went through or how many days you spent in the hospital. Critical Illness policies give you all of your money upfront in a matter of days following your DIAGNOSIS!........PERIOD!! (slide 22) There are two undeniable pains when it comes to anything and they are discipline and regret: The pain of discipline which is, pay for something today and have no pain in the future or the pain of regret because you convinced yourself it won’t happen to you and you chose not to spend a few dollars today to save tens of thousands later and that is a huge regret. Wouldn’t you agree? (slide 23) Hoping it won’t happen to you is just NOT a strategy! Ok great let’s get down to determining your need.