110907 Great Cash Gain Ps en Fw Jo

8/3/2019 110907 Great Cash Gain Ps en Fw Jo

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PAGE 1 FOR INTERNAL CIRCULATION & TRAINING PURPOSES ONLY

Great Cash Gain

Centre for Excellence

Briefing Date: 8 September 2011

Disclaimer: -

This power-point presentation is purely a training tool for the internal agency training programmes of Great Eastern Life Assurance (Malaysia) Berhad. All or any part of the contents of this

presentation shall not be used directly or indirectly for soliciting insurance business, policyholder services and/or facilitating any other form of communications with any external party

whatsoever. This information is correct as at 07/09/2011 Version 1.


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Contents

2. Agency Compensation

1. New Business SubmissionPart III: -

Submission & Remuneration

4. Sales Ideas

3. Underwriting

2. Plan Benefits

1. Plan Overview

Part II: -

About Great Cash Gain

4. Target Market

3. Unique Selling Propositions

2. Market Positioning

1. Plan Description

Part I:-

Market Positioning


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PART I: - MARKET POSITIONING1.Plan Description

2. Market Positioning

3. Unique Selling Propositions4. Target Market


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Plan Description

This is an endowment protection/saving plan with

immediate participation in profits.

It may be a limited or full pay plan depending on the

choice of premium payment term and term of assurance

applied.

Premium Payment Terms Terms of Assurance

15 years20 or 25 years

20 years


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Plan Description

Endowment Protection/Saving Plan with

immediate participation in profits

End of premiumpayment term

(15 or 20 years)

Term of assurance : 20 years or 25 years

Plan Benefit:Death or TPD

Additional Sum Assured

Accidental Death Benefit

Survival Benefit (guaranteed)

Cash Bonus/Terminal Bonus (non-guaranteed)

Maturity Benefit

*Enjoying benefits

and coverage even

though premiumpayment stopped

Note: *Not applicable for policy term of 20 years with 20 years premium payment term.


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Market Positioning

Great Cash Gain offers you a host ofAttractive Features

that allow you to:

Grow yoursavings Fulfill yourdreams


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Market Positioning

Targeted at senior executives, young managers

and professionals aged 30 years and above.

Addresses the need to grow your savings with

additional payouts to realise your dreams.

Visual concept:

- A road where can lead you to the high potential

of savings opportunity and achieving your

dreams.

- The prominent arrow denotes the high

probability of receiving accumulated benefits at

the end of your policy term.

- The man leaning relaxingly and happily on the

road sign because he knew he chose the right

plan to safeguard his finances.


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Unique Selling Propositions

Limited/Fullpremium payment feature,depending on customers affordability.

Affordable savings plan aimed at middleincome market.

Survival Benefit that is payable yearly

during the last 5 policy years.


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Unique Selling Propositions

Additional Sum Assured up to 80%

of basic sum assured

Double Indemnity on accidental death


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Target Market

Sole Proprietors.

Entrepreneurs.

Professionals aged 30 50 years old.

Middle to higher income group.

Customers with children who plan to

save for their marriage and education.


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PART II: - ABOUT GREAT CASH GAIN1. Plan Overview

2. Plan Benefits

3. Underwriting4. Sales Ideas


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Plan Overview

Accidental

Death Benefit

Accidental

Death Benefit

Death

Benefit

Death

Benefit

Additional

Sum Assured

Additional

Sum Assured

Total andPermanent Disability

(TPD) Benefit

Total andPermanent Disability

(TPD) Benefit

Survival

Benefit (SB)

(Guaranteed)

SurvivalBenefit (SB)

(Guaranteed)

Cash Bonus (CB)

(Non-guaranteed)

Cash Bonus (CB)

(Non-guaranteed)

Terminal Bonus (TB)

(Non-guaranteed)

Terminal Bonus (TB)(Non-guaranteed)

Maturity

Benefit

Maturity

Benefit


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Plan Benefits

Payable upon Death or

TPD (before 65 ANB) or

maturity whichever

occurs first

Notes:1. Death/TPD benefits from the 13th policy year onwards is 180%

of the original Basic Sum Assured (for Policy Term 20)

2. Death/TPD benefits from the 18th policy year onwards is 180%

of original Basic Sum Assured (for Policy Term 25)

80%25

80%24

80%23

80%22

80%21

80%80%20

80%80%19

80%80%18

70%80%17

60%80%16

50%80%15

40%80%14

30%80%13

20%70%12

10%60%11

-50%10

-40%9

-30%8

-20%7

-10%6

--1 5

Policy Term 25Policy Term 20


(as a % of Basic Sum Assured)Policy Year

Additional

Sum Assured

Additional

Sum Assured


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Plan Benefits

Death(within the policy term)

Accidental Death(within the policy term

& before ANB 65)

Death

Benefit

Death

Benefit


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Plan Benefits

Death

(within the policy term)

Accumulated

SB

(if any)

Basic Sum

Assured

(BSA)

Additional

Sum

Assured

(if any)Terminal

Bonus on

Death

(if any)

Any CB

(including

Accumulated

CB, if any)

Payable in One Lump Sum

Note: Child Lien Applies

Death

Benefit

Death

Benefit


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Plan Benefits

Accidental Death*(within the policy term &

before ANB 65)

Accumulated

SB

(if any)

Basic Sum

Assured(BSA)

AdditionalSum

Assured

(if any)

Terminal

Bonus on

Death

(if any)

Any CB

(including

Accumulated

CB, if any)

One time of Sum Assured**

Child lien applies.*Subject to an overall limit of: -

1. RM1.5m (inclusive of purchasable accidental rider) which provides similar benefits for any one life or

2. RM2.0m (inclusive of purchasable accidental rider) if the Life Assured is also covered under Great MultiCash (PlanCode:0273), Elite Builder (Plan Code: 0291) and/or Great Cash Wonder (Plan Code: 0295) as well as future similarproducts as specified there and then.

** Sum Assured = BSA + Additional SA (if any), up to max of RM500K

Death

Benefit

Death

Benefit


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Plan Benefits

Illustration of differences between natural death payout & accidental death payout

Example 1: Death on 10th policy year (within Policy Term 20 years &

before ANB 65)

Assumptions:Male, 30 ANB

BSA: RM100,000

Option 3: Accumulated SB & CB

Upon death:Death benefit =

(100k + 50k) + Acc. SB +

Acc. CB + TBD

Upon accidental death:Death benefit =

(100k + 50k) + (100k + 50k)

+ Acc. SB + Acc. CB + TBD

10

Additional SA

50k (50% of 100k)

Basic SA: 100k

Accidental

Death


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Plan Benefits

Life Assured between

Age 1 and 65 NB

Refer Next Page for the

benefits payout.

Accumulated

SB

(if any)

Basic Sum

Assured

(BSA)

Additional

Sum

Assured

(if any)

Terminal

Bonus on

TPD

(if any)

Any CB

(including

Accumulated

CB, if any)

Note: Child lien applies for TPD of Life Assured below age 5n.b

Total and Permanent

Disability (TPD)

Benefit

Total and Permanent

Disability (TPD)

Benefit


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Upon TPD of the Life Assured between1 ANB and 65 ANB, the Company will

pay the benefit, subject to the following

conditions:-

All future premiums will be waived up to a maximum Sum Assuredof RM2,000,000;

BSA not exceeding RM1,000,000* will be advanced in one lump

sum;

BSA exceeding RM1,000,000*, if any, but not exceeding

RM2,000,000*, will be payable in two equal annual payments.

Notes:

1. Overall TPD limit is RM3,500,000.

2. For 1 ANB 5 ANB, child lien shall apply and subject to TPD limit of RM500,000.

3. All these limits shall apply on any one life across all distribution channels & other terms and conditions as

specified in the policy contract.

4. *Applicable on this policy and other policies (if any) on the same life within the Agency distribution channel.

Plan Benefits

Total and Permanent

Disability (TPD)

Benefit

Total and Permanent

Disability (TPD)

Benefit


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Plan Benefits

Option to Purchase New Policy at Maturity

(Standard child life only)*

(a) Within 30 days before or after the maturity date

(b) Attained age of the Life Assured is at least 18 years n.b. but not more than 25

years n.b.

(c) Option to purchase a new ordinary level annual premium Whole Life or

Endowment policy (except Living Assurance policy) sold by the Company atthe option date for an amount of assurance up to the Basic Sum Assured.

(d) The premium for this new policy will be at the same class of rating based on

the attained age at the option date.

(e) The total Sum Assured purchased by the Life Assured for this or similar

options on all policies must not be more than RM200,000.

*Note: Please refer to the sample policy contract for details.

Without

Evidence of

Assurability


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Plan Benefits

A percentage of BSA will be payable as

per the following schedule until death,

TPD, surrender, maturity or termination

of the policy, whichever occurs first.

55.00%55.00%Total

15.00%25

10.00%24

10.00%23

10.00%22

10.00%21

-15.00%20

-10.00%19

-10.00%18

-10.00%17

-10.00%16

--1 - 15

Policy Term 25Policy Term 20

Survival Benefit (as a % of Basic Sum Assured)Policy Year

Survival

Benefit

(Guaranteed)

Survival

Benefit

(Guaranteed)


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Plan Benefits

The cash bonus that would be declared may be more or less, depending on the

operating and investment results experienced by the Company. Any cash bonusdeclared for the 1st and 2nd policy years shall vest and be payable only after the

policy has been in-force for 2 full years. Cash bonus will vary by terms of

assurance and policy year.

2.10%3.00%21 - 25

1.90%2.70%16 20

1.70%2.40%11 15

1.60%2.10%6 -10

1.35%1.80%5

1.15%1.50%4

1.00%1.20%3

0.70%0.85%2

0.40%0.50%1

@ 5% Scenario@ 7% Scenario

Cash Bonus (as a % of Basic Sum Assured)Policy Year

Cash Bonus

(Non-guaranteed)

Cash Bonus(Non-guaranteed)


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Accumulated

SB(if any)

Basic Sum

Assured Final Year

SB

Terminal

Bonus on

Maturity

(if any)

Any CB(including

Accumulated

CB, if any)

Payable in One Lump Sum

AdditionalSum

Assured

Note: Maturity Benefit is payable provided no Death, TPD, Surrender claim is made prior to maturity

Plan Benefits

Maturity

Benefit

Maturity

Benefit


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Plan Benefits

Illustration of Plan Benefits

Male, age 35, non-smoker,

BSA 100K, 25 years Great Cash Gain,

20 years premium payment term

Entry Age

35 ANB

Pay premium for 20 years

15%

Receive yearly SB*

during the last

5 policy years(guaranteed)

Maturity: 60 ANB Basic Sum Assured


Survival Benefit for the final

year

Accumulated SB (if any)

Any Cash Bonus (including

accumulated Cash Bonus, if

any)Terminal Bonus on maturity

(if any)

0 20

Receive yearly CB* (non-guaranteed)

*Note: SB & CB is payable as a percentage of original basic sum assured.

10%


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Underwriting

Entry Age

50 years next birthday55 years next birthdayMaximum

30 days attained ageMinimum

25 Years20 YearsPolicy Term

Note: Maximum expiry age is 75 years next birthday

Policy Term

20 years

15 years

25 years20 years

Available Policy TermPremium Payment

Term


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Sum AssuredMinimum : RM20,000

Maximum : Subject to underwriting

Underwriting

For determining the non-medical limits, the basic sum assured for the termplan and any existing policies (basic & riders) within 3 calendar years will

be considered for calculation. The non-medical limits are listed below: -

100,00051 to 55

250,00041 to 50

400,00031 to 40

500,00017 to 30

250,00030 days attained age to 16 years

Sum Assured (RM)Age Next Birthday


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Discount

Large Sum Assured Discount

4.00300,000 & above

3.50100,000 299,999

3.0050,000 99,9992.0025,000 49,999

Nil20,000 24,999

Discount per RM1,000 Sum Assured (RM)Sum Assured (RM)

Non-smoker Discount

Separate premium rates are available for Smoker and Non-smoker.

Female DiscountSeparate premium rates are available for Female and Male.


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Attachable Riders

The Riders available are:

Accident and Health: -

a. Juvenile Accident Rider (A5)

b. Premier Accidental Death and Dismemberment Benefits Rider (A54)

c. Premier Comprehensive Accident Benefits Rider (A55)

d. Hospitalisation Benefit (Police & Military) (H2)

e. Hospitalisation & Surgical Benefits (H3)

f. Premier Medical Reimbursement and Hospitalisation Benefits Rider

(H28)

Payer and Waiver Riders: -

a. Waiver of Premiums Rider (U15)

b. Waiver of Premium on DD Rider (U82)

c. Payer Benefit Rider (U8)

d. Payer Benefit Rider with Annual Benefit (U9)

e. Payer Benefit Rider Plus (W21)

f. Payer Benefit Rider Plus with Annual Benefit (W22)


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Attachable Riders

Others: -

a. ChildrenCare Rider (W25)

b. Reducing Term Rider with TPD Benefits (U2)

c. Reducing Term Rider Plus with TPD Benefits (W23)

d. Living Assurance Rider with TPD Benefits (W7)

e. Enhanced TPD Rider (T12Y)

f. GreatLady Rider A, B and C (U27, U28, U29)


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Other Features

Surrender Value

Partial Surrender

Policy Loans Automatic Premium Loan

Extended Term Assurance

Paid-up Assurance

Free Look Period

Assignment

3rd Party Policy

Reinstatement


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S l Id


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What do you want in

LIFE?

High Income

Happy Family

Quality Life

CarHouse

Recognition

Vacation

Success

Sales Idea

S l Id


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AgeBelow 25 years old

Young Adults

AccumulationAccumulation

assets & debtsassets & debts

Savings/Investment

Pr

otection

Young Family

26 35 years old

Accumulation &Accumulation &

SavingsSavings

SavingsforEd

ucation

MortgageProtection

Empty Nest

46 55 years old

PrePre--retirementretirement

Savings/

Investment

ProtectionIncome

Replacement

Old Age

Over 55 years old

RetirementRetirement

Savings/Investment

Protection

Mature Family

36 45 years old

SavingsSavings

S

avings+Income

R

eplacement

Mortgage

Protection

Commitment

RM

Life stages and Insurance Needs

Sales Idea

S l Id


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Mid 30s to 40s

THE ACQUISITION

YEARS

Mid 30s to 40s

THE ACQUISITION

YEARS

Mid 50s to Retirement

THE REAPING THE

REWARD YEARS

Mid 50s to Retirement

THE REAPING THE

REWARD YEARS

Mid 40s to 50s

THE ACCUMULATION

YEARS

Mid 40s to 50s

THE ACCUMULATION

YEARS

Mid 20s to 30s

THE FOUNDATION

YEARS

Mid 20s to 30s

THE FOUNDATION

YEARS

1. Life Insurance

2. HP & Motor Insurance

3. Credit Card

1. Education Insurance

2. Mortgage

3. Unit Trust

4. Share Trading Accounts

1. Annuity/ Unit Trust

2. Top up insurance

3. Mortgage (2nd house)

4. Savings

1. Health Insurance

2. Unit Trust

HUMAN LIFE CYCLE IN A NUTSHELL

Sales Idea

S l Id


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We can choose actions and

habits that keep us happy,

healthy, and successful.

We can choose actions andWe can choose actions andhabits that keep us happy,habits that keep us happy,

healthy, and successful.healthy, and successful.

Sales Idea

Life is the sum of all your choices.Life is the sum of all your choices.~ Albert~ AlbertCamusCamus,,

French Author and PhilosopherFrench Author and Philosopher

Sales Idea


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Sales Idea

Sales Idea


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Sales Idea

Source: The Sunday Star dated 27 May 2007

Sales Idea


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Malaysias inflation rate rose to a 24-month high of 3.2% year-on-year in April

after a 3% increase in March.

Source: The Star dated 24 May 2011

Sales Idea

Sales Idea


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RM500,000RM48,000RM20Now

Purchasing

Power

Expenses for

1-year

Cost of 3

Meals a Day

The Impact of Inflation

Source: The Sunday Star dated 27 May 2007Assuming 6% Inflation Rate.

Sales Idea

20 Years Later RM64 RM153,942 RM145,053


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Plan Benefits


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Plan Benefits

Illustration of Plan BenefitsMale, age 30, non-smoker, BSA 100K, 25 years Great Cash Gain,

15 years premium payment term (Option 3)

Entry Age

30 ANB

Pay premium for 20 years

15%

Accumulate yearly SB*

during the last 5 policy

years (guaranteed)

0

Death and TPD CoverageNote:

*SB & CB is payable as a percentage of original basic sum assured.

**Maturity Benefit is estimated based on 7% interest rate scenario as illustrated in Gelsis, which is inclusive of Basic

Sum Assured, Additional Sum Assured, Survival Benefit for the final year, Accumulated SB, Accumulated Cash

Bonus and Terminal Bonus on maturity

10%

Total Premiums Paid

RM11,604 x 20 = RM232,080

Maturity Benefit:Maturity Benefit:

RM461,608RM461,608****

20


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PART III: - SUBMISSION & REMUNERATION

1. New Business Submission

2. Agency Compensation

New Business Submission


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New Business Submission

Proposal Form

Agents Confidential Report

Confirmation of Advice (CA)

Customer Fact Find (CFF) Form

Survival Benefit and Cash Bonus

Option Form (optional)

Request for Non-incorporation of

Vesting Clause (optional, juvenile plansonly)

Agency Compensation


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Agency Compensation

Commission Structure for 15 years premium payment term: -

Year Basic

Commission

Overriding

Commission

Production

Bonus on

Personal

Sales

Organiser

Production

Bonus

Persistency

Bonus

Total Agency

Related

Expenses

(ARE)

1 26.30% 15.00% 5.00% 5.00% 51.30% 2.25%

2 18.80% 8.20% 5.00% 32.00% 3.00%

3 11.40% 4.30% 5.00% 20.70% 3.00%

4 11.30% 3.50% 14.80% 3.00%

5 7.60% 7.60% 3.00%

6 7.60% 7.60% 3.00%

> 6 3.00%

Total 83.00% 31.00% 5.00% 5.00% 10.00% 134.00% -

Standard Commissions as per OCC Guidelines

Agency Compensation


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Standard Commissions as per OCC Guidelines

Year Basic

Commission

Overriding

Commission

Production

Bonus on

Personal

Sales

Organiser

Production

Bonus

Persistency

Bonus

Total Agency

Related

Expenses

(ARE)

1 35.00% 20.00% 5.00% 5.00% 65.00% 2.25%

2 25.00% 10.00% 5.00% 40.00% 3.00%

3 15.00% 6.00% 5.00% 26.00% 3.00%

4 15.00% 5.00% 20.00% 3.00%

5 10.00% 10.00% 3.00%

6 10.00% 10.00% 3.00%

> 6 3.00%

Total 110.00% 41.00% 5.00% 5.00% 10.00% 171.00% -

Commission Structure for 20 years premium payment term: -

ge cy Co pe sat o

Agency Compensation


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g y p

Purpose15 or 20 Years

Premium Payment TermMaintenance 100%

Promotion 100%

Contest 100%

Qualifying for Payment 100%

First Year Production from the plan can be used as follows: -

Agency Compensation


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Notes: -

1. Overriding Commission: shown above is maximum payable and is

apportioned according to rank held and is payable upon meeting

required quota.

2. Production Bonus: 5% production bonus on PS (personal sales) and 5%

organizer production bonus is paid upon meeting the required quota

3. Deferred benefit: upon meeting requirements

4. Agency Office Maintenance (AOM): upon meeting requirements

g y p


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All rights reserved. No part of this publication may be produced ,translated, stored in a retrieval system or

transmitted in any form or by any means, electronic, mechanical, photocopying and recording without the prior

written permission of the copyright the developer and owner.

Sales Training Faculty


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g y

Franco Wong Wai Keong

03-4259 [email protected]

Chua Pei Chyn


Tutu Foong


Should you have any further enquiries, you may forward to ICM via ePartner.


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