For Members of Truliant Federal Credit Union

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For Members of Truliant Federal Credit Union
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Relationship Overview
• 2012 discussions begin on targeted direct mail of life insurance
– Decision not to do direct mail and at time no other solution available
• 2013 introduction of TruStage
• 2014 introduction of emailCONNECT through TruStage which leads to a
non-direct mail pilot for life insurance including
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Targeted e-mail
In branch promotional efforts
Website links
Social Media
• Discussions begin on AD&D conversion options
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Fitting into the MemberCONNECT Portfolio
Product
Categories
Property &
Casualty (A&H)
Primary
Products
Auto
Focused
Products
Home
Cross-Sale
Products
Life & Health
Life
Health
Annuities
Other
Life
Products
AD&D
Dental
Vision
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NEEDS-BASED APPROACH
Licensed U.S.-based sales agents
Listen now to a real member’s needs analysis!
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PROTECTING MEMBERS
with TruStage HEALTH INSURANCE PROGRAM
Because a credit union is only as healthy as its members.
56% were unsure
about their eligibility
when purchasing insurance
on an exchange1
Are your members
confused or
looking for help?
1 Source: Prophet’s 2014 US Healthcare Exchange Consumer Survey Report: Lessons From Year One & Opportunities for Year Two
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PROTECTING MEMBERS
with TruStage HEALTH INSURANCE PROGRAM
GoHealth has helped 30
million Americans shop for
health insurance.
Largest number of enrollments
in marketplace plans this past
OEP outside of any individual
carrier.
Exchange interface integrated with
healthcare.gov
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Side-by-side
plan
comparison
Enroll online
or by phone;
chat live
Integration with
healthcare.gov
Access to
subsidies to
reduce cost
for those who
qualify
Hundreds of
carriers
Team of
Licensed
Advisors
Member Experience
TruStage.com
Primary Product:
Major Medical
Additional Products:
Dental
Vision
Short-term Medical
Critical Illness
Fixed Indemnity
Hospital Coverage
Paid Search
Broad reach
marketing to
your credit
union members
Co-branded with TruStage and
the Credit Union
Co-branded TruStage and
GoHealth website and call
center
GoHealth’s exchange has a
relationship with over 300
carriers and the Federal
Exchange*
Placed with carrier to
purchase insurance
Carrier does all service
and claims
1M unique visitors per month
* TruStage Health Insurance Program is available to all credit unions, except in the states of HI, MA, RI, VT, AL and WV due to regulations or carrier
availability.
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Drive MEMBER AWARENESS
Credit Union Driven Media
TruStage Driven Media
Execute Two during open enrollment
Email
Newsletter
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Paid Search
AD&D Overview
• Current agreement with Affinion has block of
business that can never move – we are
estimating that to be 85% of total premium
• 32% reimbursement rate
• $1,000 basic at $.36 per policy per year
• Basics can move 2/2015
• Second block can move 2/2020
 40% of all AD&D calls to TruStage are
directed to Life Insurance
 40% of all US households have no life
insurance
 66% median NII growth for credit
unions who move AD&D to TruStage
in the first year
TruStage Insurance Offer
AD&D
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6 + 4 agreement
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Basics convert 2/2015
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Premium converts 2/2020 – estimated to be 15% of total
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32.5% reimbursement rate
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$1000 basic at $.28 per policy per year
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$51,000 signing bonus
Life
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10% reimbursement on 1 st year premium / 5% reimbursement on renewal premium
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$16,000 singing bonus
Partnership Compensation – paid in addition to standard reimbursement
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3.5% of all 1 st year AD&D premium
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8% of all 1 st Life premium