PRODUCT DESCRIPTION INFORMATION
What is this insurance? Can you tell me more about this insurance?
Guaranteed Acceptance Life Insurance pays a lump-sum benefit upon the death of the insured. There are no medical exams or health questions. Benefits won’t decrease regardless of your age or health. Your financial institution is offering you $2,000 of coverage at no cost to you for being a valued customer.
DEPENDENT and AGE QUESTIONS
- Insured: Must be between age 18 and 65 at time of enrollment
- Individual coverage only (no family coverage)
- Terminates at age 80
BENEFITS
- Offers up to $50,000 of additional coverage elected and paid by the insured
- Individual coverage available (no family coverage)
ADD ON BENEFITS:
- You only need to read the description for the benefit being asked about
“You automatically receive the following benefits:
Accelerate Payment of Death Benefits – this is an option that may allow someone with a terminal illness to receive part of their life insurance benefit amount early instead of waiting for it to be paid to beneficiaries after death. Eligibility requires medical documentation and approval by the carrier, Prudential. Any amount received early under this option will reduce the benefit payable to beneficiaries later.
If insured has additional coverage: “This also includes a chronic illness acceleration feature.”
Conversion Privilege – you can exchange your additional term life insurance for permanent coverage – without a medical exam. Insurance ends at age 80.”
HYPOTHETICAL or “IS THIS COVERED” SCRIPTING
This policy does not list any specific exclusions for the life insurance benefit. In general, if an insured passes away, the benefit will be payable once Prudential receives proof of death. Keep in mind coverage ends when you reach age 80. Coverage is subject to the terms of the policy, including eligibility requirements and when coverage ends.
ENROLLMENT
My husband and I have our names on this letter. Can we both sign up for complimentary insurance?
“Yes, the life insurance policy does not limit coverage to only one person per household or one spouse per family; however, you and your spouse will need to sign up using different accounts.”
What does dependent child mean? Are my grandchildren covered? Can my handicapped child be covered?
“Family coverage is not available.”
How do I assign more than one beneficiary?
“You can name as many beneficiaries as you would like by either writing your additional beneficiaries on the back of your enrollment form or including an additional piece of paper in the envelope when you mail in your enrollment.”
Do I automatically receive complimentary life insurance?
“No. You must complete and return the enrollment form.”
Do I have to purchase additional coverage to receive my complimentary coverage?
“No. The Complimentary coverage is paid for you as a valued customer.”
How much additional coverage may I choose?
“You alone can decide how much coverage you need. This life insurance has coverage levels to fit your budget. You can select $10,000, $25,000, or $50,000.”
Who can I name as my beneficiary?
“Name anyone or as many beneficiaries as you would like.”
Can I get insurance for my spouse and family, too?
“No. Family coverage is not available.”
How do I enroll?
“Simply complete and sign the enrollment form and send it to the Plan Administrator in the reply envelope provided in your package or you can enroll online using the Invitation Code or QR Code on your Activation form.”
I lost or threw away my envelope. What is the address to send the paperwork to?
“You can mail it to:
Benefit Plan Administrator
P.O. Box 689070
Franklin, TN 37068-9070″
Do I have to take a medical exam or answer a lot of health questions? Can I be turned down?
“No. Medical exams, blood tests or answering health questions are not required to enroll and or keep this coverage. Your acceptance is guaranteed.”
CANCELLATION
Can I cancel / Can I get my money back?
“If you are not happy with this insurance for any reason, you may cancel at any time and all billing will stop. If you’re not completely satisfied with your policy, cancel within 30 days for a full refund of any premiums paid.”
RATES AND BILLING
Monthly Premium
Do the rates go up?
“Your rate will change when you enter the next age band.”
When will I be billed?
“Your billing schedule will be shown on your certificate of insurance that you will receive within 15 days of your activation. Please note that your effective and billing dates may be delayed depending on the billing cycle of your financial institution.”
How will I be billed for this coverage?
“You will be conveniently billed to the account issued by your financial institution.”
Can I get billed directly?
“You will be conveniently billed to the account issued by your financial institution.”
FULFILLMENT AND EFFECTIVE DATES
When will I receive the certificate of insurance?
“You can expect to receive the certificate of insurance within 15 days of your enrollment.”
When does coverage begin?
“Your effective date will be shown on your certificate of insurance that you will receive within 15 days of your activation. Please note that your effective date may be delayed depending on the billing cycle of your financial institution.”
CLAIMS
How are benefits paid?
“Benefits will be paid to the named beneficiary(ies). If there is no beneficiary, benefits will be paid to the first of the following: your surviving spouse, surviving children in equal shares, surviving parents in equal shares, surviving siblings in equal shares, or the estate.”
How do I file a claim?
“Once you enroll, you can receive and complete our Insurance Claim Forms by calling our Claims Department where a representative would be glad to assist you in filing a claim.”
How long does it take to process my claim?
“Typically, Prudential will make a determination within 45 days of receiving the claim.”
ADDITIONAL QUESTIONS
Can you remove me from your mailing list?
“Yes, we can. I’ll take care of that now and it will take 30 to 60 days to process. Please disregard any solicitations you receive during that time. You can also be removed from all mailing lists by calling the Direct Marketing Association at 212-768-7277 and you can register your phone number with donotcall.gov.”
Is this offer still available after 14 days?
“Yes, the offer is still available.”
Is there an age cutoff?
“This life insurance provides death benefit protection until you reach age 80. The benefit amount you choose will never go down until coverage ends at age 80.”
Does this policy have a cash value?
“No. There is no cash value for this insurance.”
What if I have other insurance?
“This insurance will pay all benefits regardless of any other insurance you may have.”
Who provides this insurance?
“The Prudential Insurance Company of America is the underwriter. For over 150 years, Prudential Financial has been a leader specializing in innovative solutions that help make a real difference for families like yours. For more information about Prudential, please visit their website at www.prudential.com.”
Who is the plan administrator?
“Franklin Madison Group LLC is the plan administrator.”
Who do you work for?
“I am employed by InteLogix.”