1. Cincinnati Worksite Program
May 2019
FHC Study Group
Cincinnati Worksite Program

2. Assistant Vice President of Advanced Case Design
On the Call
Steve Schreiber
Assistant Vice President of Advanced Case Design
Drew Garvey
Life Field Director

3. Cincinnati Life Worksite Webinar Agency
Questions for the group to get them to consider the value of having life insurance -- whether for personal or business reasons
How many of you own life insurance?
Why do you own life insurance?
Eric Trass, Director of Worksite Janice Brockman, Life Field Representative Brent Grimes, Life Field Director

4. DISCLOSURES
This is not a policy. For a complete statement of the coverages and exclusions, please see the policy contract. All applicants are subject to underwriting approval. Products and riders are available in most states. Neither The Cincinnati Life Insurance Company nor its affiliates or representatives offer tax or legal advice. Consult with your tax adviser or attorney regarding your specific situation. Copyright © 2017 The Cincinnati Life Insurance Company. All rights reserved. Do not reproduce, post online or otherwise reuse this work, in whole or in part, without written permission.

5. Key Facts About Life Insurance
Protection against loss: More than one third (35 percent) of all households would feel adverse financial impacts within one month if a primary wage earner died.
Feelings about coverage: Among those with life insurance, about 1 in 5 say that they do not have enough.
Purchase barriers: Consumers overestimate the cost of life insurance, especially younger generations; 44 percent of Millennials overestimate the cost at five times the actual amount.
Simplified underwriting: Half of all consumers say they are more likely to purchase life insurance if priced without a physical examination.
Source: 2018 Insurance Barometer Study, LIMRA

6. Cincinnati Worksite Life – what it is
Individually owned life insurance policies purchased by employees through the convenience of payroll deduction, or bank draft; for themselves and/or their dependent family members.
Coverage can be in addition to existing individual or group coverage the employee may have.
Provides an additional employee benefit at no cost to the employer.

7. Cincinnati Worksite Life – what it is not
Group Term
These are provided by and paid for by the employer
Can be replaced or eliminated by the employer, agent or the carrier = no employee control
Master contract, certificates issued to employees = not individual
Ancillary – sometimes called “Voluntary” (Banded Term)
Can be offered on a Guaranteed Issue basis
Usually in addition to a Group plan, typically if the group portion is eliminated the ancillary piece is effected
Not affordably portable or convertible, if at all

8. Benefits of The Cincinnati Worksite Life Program
Guaranteed Issue available for employee, spouse and dependent children*
Perpetual Guaranteed Issue available
Coverage is individually owned and controlled
Flexible options to purchase coverage for employee, spouse, children and grandchildren – no requirement for employee to participate
No medical examinations required
Eligibility and guidelines will be discussed later
GI for spouse and children not yet available in CA

9. Guaranteed Issue For Employee
Higher amounts available through Simplified Issue**
Fully underwritten options are also available
Employee Ages
Guaranteed Issue Amount
(any combination of Worksite Life products )
Total Amount Allowed
18-50
$100,000
$200,000
51-60
$75,000
61-70
$25,000

10. Coverage Options Term 10 Term 20 Term 20 Return Of Premium Whole Life
Whole Life Paid Up at Age 65
Issue limits for Term = $100,000
Issue limits for ROP and Whole Life products = $200,000
Total issue limit = $200,000

11. Example – Worksite Term 20
35-year-old male or female, nonsmoker
Policy amount
Weekly cost per pay
$25,000
$2.05
$50,000
$3.62
$75,000
$5.18
$100,000
$6.75

12. Worksite Riders Children’s Term Life Insurance Rider
Accidental Death Benefit Rider
Accelerated Benefit Rider
Waiver of Premium Rider

13. Benefits to The Employer
Expands existing benefits program
Generates no direct cost to the employer
Helps attract and retain good employees
Offers easy set up and administration
Getty image

14. Benefits to Employees Provides convenient and affordable coverage
Requires no doctors or exams
Policies are owned and controlled by the employee
Policies are fully portable, with no change in premium or coverage
Offers coverage options for spouse, children and grandchildren of the employee, regardless of employee participation

15. Worksite Process
Identify employer prospect – commercial / group accounts
Employer presentation / meeting with HR and Payroll
Case authorization – Worksite Qualifier
Supervisor group meeting - optional
Employee announcement letter or employer website
Employee group meetings - optional
Employee individual meetings - mandatory
Re-enrollments
The best way to learn this process is to start with an agency enrollment, or a small group.

16. Target Industries for Worksite Marketing
Manufacturers
Health care facilities
Distributors
Auto dealerships
Fabricators
First Responders
Processing
Getty image Printing already has the “real” photo.

17. Competitive Advantages
True guaranteed issue on worksite life products:
No gatekeeper questions
No participation requirements
Cigar, Smokeless, and Pipe Smokers are considered Non Smoker
Training and support
Experienced and dedicated administrative and billing staff
Non-worksite products can be enrolled along with worksite products

18. Why Offer Voluntary Life Insurance?
Life insurance ownership and coverage remain low nationally.
Voluntary insurance provides you the opportunity for total account development, and retention.
Increased revenue in existing accounts.
Introduces the agent to new prospective clients for other lines.

19. Worksite Marketing Field Support Team
Worksite Marketing Help Desk:
Matt Kuhnemund, Worksite Marketing Rep.
Diana Brockman, Worksite Marketing Rep
Eric Trass, Life Field Manager
Janice Brockman, Life Field Representative
Brent Grimes, Life Marketing Director
Len Scholl, Life Marketing Director