IntroducingThe Everest Package

WHAT IS THE EVEREST PACKAGE

Whole Life Insurance

Plus

WHO IS EVEREST?

A VISION FOR CHANGE

OUR VISION

For more than a decade we’ve been working towards this vision and now almost 25 million

people in North America have Everest

To revolutionize the way consumers interactwith the funeral industry

THE EVEREST OFFERING

• 24/7 Advisor Planning Assistance - Funeral planning issues- Creating a personal funeral plan for the client

• Everest PriceFinder Research Reports- Detailed, local funeral home price comparisons- Available on demand via our website

• Online Funeral Planning Tools - Includes: Personal Profile, 10 Key Decisions

Planner, Reference Guide, “My Wishes” Planning Guide and more

- Information stored and maintained in a secure data warehouse

THE EVEREST OFFERING

• At-Need Family Support• Family Assistance and Plan Implementation

- Communicate the client’s Personal Funeral Plan to the funeral home, removing the family from a sales-focused environment

- Provide 24 hour assistance throughout the funeral process

• Negotiation Assistance- Gather pricing information and present to client

in an easy-to-read format- Negotiate funeral service pricing with local

funeral homes- Help the family compare prices of caskets and

other products

WHAT EVEREST IS NOT

• Everest is NOT a funeral home

• Everest does NOT have a network of funeral homes it deals with

• Everest does NOT sell funeral goods or services

• Everest does NOT sell funeral pre-arrangements

• Everest does NOT receive commissions or profit in anyway from a client’s decision

RESEARCH

RESEARCH FINDINGS

• Canadians are unprepared and underinsured• 64% have never planned a funeral• Only 10% have pre-planned their

funeral• Only one-third of Canadians have

insurance to cover funeral costs• Canadians’ funeral concerns and priorities1. Not being able to afford it 46%2. Not knowing where to start

37%3. Being taken advantage of 36%

RESEARCH FINDINGS

• Canadians want to be prepared• 74% say that having the option to pay for

their funeral in advance as a part of their life insurance package in appealing

• Two-in-five say they are likely to pre-plan for their own funeral within the next five years• Canadians are interested in the Everest

service• Over half are interested in hearing

more about Everest• 83% would purchase a service like

Everest for themselves

RESEARCH FINDINGS• Everest’s unique service addresses

Canadians’ needs and concerns• Not being able to afford it

─ Solution: Everest offers a source of funding through life insurance, the expertise to research and negotiate the costs, plus assistance with expediting the claims process

• Don’t know where to start─ Solution: Everest’s planning information and

helpful advisors provide families access to unbiased third party advice and someone to execute all the details per the client’s request

• Fear of being taken advantage of─ Solution: Everest’s independent advocates

work for the client, not the funeral home, allowing the family time to focus on what’s important as opposed to making arrangements

MORE

TARGET MARKET

• Women in the workforce – 73%

• Women delaying marriage – 27.4 yrs.

• Women out-earning husband – 30%

• Women manage the budget – 87%

• Women having fewer children – 1.6

• Women getting divorced – 40%

• Women living longer – 82.7 vs. 77 yrs.

Source: Statistics Canada 2009-2011; The Richer Sex, Maclean’s March 2012

TARGET MARKET

• Women are overwhelmingly making decisions for their household:– Vast majority of healthcare decisions

(~85%)

• For themselves• For their families

– Sandwich Generation – Women Boomers

• Responsible for own children• Increasingly responsible for parents

– Boomer Women have more spending clout than any other demographic

• But often feel overlookedSource: The Baby Boomer Woman, Brown & Osborn

TARGET MARKET

• Product categories WOMEN dread buying the most:

3. Healthcare2. Autos1. Financial Services

Source: Women Want More, BCG Survey 2009

TARGET MARKET

• Dissatisfaction is prevalent:– Most dissatisfied

• Of all industries that affect their daily lives, women are most dissatisfied with the Financial Services Industry

– Insurance has a problem• 75% of women dissatisfied with service• 74% of women dissatisfied with product offering

– Misunderstood• 85% of women feel misunderstood by investment

marketers• Overwhelmingly, women willing to switch to

provider who understands them betterSource: Women Want More, BCG Survey 2009; Too Busy to Shop, by Kelley

Skolda

TARGET MARKET

• Think about your business

• Think about these trends

• Think about your agents

What do you need MORE of?

TARGET MARKET

The Everest System

Gateway to MORE

TARGET MARKET

• Everest was designed with women in mind:– Provides personal touch at a

sensitive time• Removes her from a high pressure sales

environment

– Female-focused communication• Designed to resonate with her

– Service focus• She demands higher service levels• Everest delivers

TARGET MARKET

• The Everest System Features:– Recruiting to a program

– Attractive compensation• 3 sales/week = $100,000

commission/year

– Professional training

– Powerful in-home presentation• Unique Door Opener• Needs Analyzer

TARGET MARKET

The Everest System:

Gateway to MORE

–MORE Recruits

–MORE Clients

–MORE Sales

TARGET MARKET

CONSUMERS CHOICES

• Do nothing – leaves family with emotional and financial burden

• Buy a “Pre-Need” Funeral from a Funeral Home- Expensive - Limited choice and information- Locked into single provider - Not portable- Does not address fear of being taken

advantage of- Funeral home is the beneficiary

• Have ready cash or credit card with high limit

• Buy “Final Expense” Insurance- No planning element is offered- No support to relieve family of emotional

burden

• Pre-Need Insurance offered mainly through Foresters Life and Assurant Life– Reliant on funeral homes as primary

distribution

• Final Expense Insurance offered mainly by:– BMO Life– Manulife – “Cover Me”– RBC Insurance– Canada Protection Plan – Broker not

Carrier

• No one offers The Everest Package until now

COMPETITIVE LANDSCAPE

INSURANCE PRODUCT OVERVIEW

• Simplified Issue• Guaranteed

Issue

Whole Life Insurance

FEATURES & BENEFITS OF SIMPLIFIED ISSUE

• Whole Life Insurance coverage - $5,000, $7,500, $10,000, $15,000, $20,000,

$25,000 & $30,000• Apply between ages 18 and 80• Four simple health questions - No Medical Exam• Short application form• Suicide within first 2 years – not covered• Guaranteed 48-Hour Payout• Tax Free Proceeds• Easy to purchase• Cash Surrender Value• Paid Up Date – 100• Single Premium Option

FEATURES & BENEFITS OF GUARANTEED ISSUE

• Whole Life Insurance coverage - $5,000, $7,500 & $10,000• Guaranteed Acceptance• Apply between ages 18 and 80• Accidental death benefit before age 85 – coverage amount

doubles regardless how many years in force• If death, other than accidental, occurs within 2 years –

premiums will be refunded• Guaranteed 48-Hour Payout• Tax Free Proceeds• Easy to purchase• Cash Surrender Value

REGULATORY ENVIRONMENTONTARIO ONLY

• Two Acts amended July 1, 2012 and are connected

• Funeral, Burial and Cremation Services Act 2002 (FCB) and Financial Services Commission of Ontario (FSCO)– Ontario Regulation 347/04 – Agents

Regulation Under the Insurance Act– Life insurance to fund expenses for

funeral, cemetery, etc.

REGULATORY ENVIRONMENTONTARIO ONLY

• An agent who holds a life insurance license– Shall not contact, by telephone or in person, any person for the

purpose of soliciting the making or negotiation of a contract to fund funeral, burial or cremation expenses unless the person has requested the agent to contact him or her for that purpose

– Shall not contact by any means any person who is in a hospital, nursing home, home for the aged or hospice for the purpose of soliciting the making or negotiation of a contract to fund funeral, burial or cremation expenses unless the person has requested the agent to contact him or her for that purpose

– Shall disclose in writing to every prospective purchaser of a contract to fund funeral, burial or cremation expenses that the purchase under the contract does not constitute the purchase of licensed services or supplies as defined in the FCB Act

REGULATORY ENVIRONMENT

• Everest Package is whole life insurance from Western Life plus Everest independent funeral planning advice and concierge service– Proceeds can be used for any purpose– A beneficiary is named – not a provider of

funeral, burial or cremation services– Agents meet with clients and potential

clients in their homes discussing the Western Life insurance as part of an overall needs analysis

Thank You