Advisor Today - November/December 2016 - 25

Sales of HSA-compliant CI insurance plans have increased
each year since 2011 and are on pace to break another
record in 2016.
AT: How does CI insurance fit into
a consumer's overall retirement
planning?
Ocampo: On the surface, most
people seemingly have their financial
houses in order. Our research finds
that 77 percent make it a priority to
understand their personal finances
and benefits. Yet, 38 percent
of working Americans say they
know little or nothing about their
employer-provided benefits, such as
healthcare, life insurance, 401(k)
retirement plans and other benefits.
At MassMutual, we believe that
in the age of benefits consumerism,
employees need simple solutions to
make sense of all their employersponsored benefits so that they can
focus their attention on taking care
of themselves and their families now
and in the future. Our tools engage
people, help them make better
choices and incite them to action.
Approximately half of all
Americans have little or no savings.
CI insurance provides financial
liquidity at a time when many
people are faced with a large
financial burden and when they are
fighting an expensive critical illness.
Having a source of cash from a
critical illness policy can dissuade
retirement savers from taking a
hardship loan or withdrawal from
their 401(k) or other retirement
savings.
CI insurance is a lump-sum
benefit paid upon diagnosis of a
critical illness. What makes CI
insurance unique is that the insured

is entitled to the benefit regardless of
treatment, as well as to out-of-pocket
expenses. This benefit provides the
insured and the insured's family
with the freedom to make treatment
decisions (type of treatment or no
treatment)without having to worry
about the financial burden.
AT: Who are the best prospects for
CI insurance?
Ocampo: Working Americans who
want to protect their family finances,
including retirement savings, are
a good prospect for CI insurance.
Considering that many employers
now offer healthcare coverage with
high deductibles, having another
source of cash to help defray the cost
of a critical illness can benefit many
people.
Other good prospects are employer
groups with 100 or more employees.
Cancer, heart attack and strokes
are catastrophic illnesses that affect
people in all walks of life and in all
regions of the country. CI insurance
resonates with all levels of employees
- from the entry-level employee to
those in the board room - regardless
of gender.
AT: How do you approach clients
about CI insurance?
Ocampo: The most effective way
to introduce CI insurance to an
employer is to listen to the employer's
challenges and concerns. Every
employer that is struggling with
the cost of medical insurance and
worried about transferring too much
cost to its employees has a legitimate
need for CI insurance.

AT: What are the most effective
strategies you have used to address
common objections to critical
illness insurance?
Ocampo: Objection: "We already
offer medical insurance."
Addressing this objection: The
average out-of-pocket expense for
cancer is $750 per month with
medical insurance.
Objection: "We are a healthy
group."
Addressing this objection: Have
the employer ask the employees to
stand, and have each person who
has had cancer or knows anyone
who has had cancer sit down.
Then, ask the same question for
heart attack and stroke. Nearly
everyone, with the exception of one
or two employees, will be sitting
down. This demonstrates the need
very effectively.
AT: What three things should
govern an advisor's thinking as he
attempts to sell CI insurance to his
prospects and clients?
Ocampo:
1. Am I helping the employer save
on the cost of medical insurance
while adding protection against
life's unforeseen events for the
employees?
2. What is the best benefitscommunication strategy to
educate employees about the
value of CI insurance and other
voluntary insurance products
from both the health and the
financial perspective?
3. Which carrier will provide me
with the best tools and support
to ensure that my employer
groups are enrolled and serviced
with the same care I give to
them?

November/December 2016 | ADVISOR TODAY 25



Advisor Today - November/December 2016

Table of Contents for the Digital Edition of Advisor Today - November/December 2016

FROM THE EDITOR
VIEWPOINT
NEW PRODUCTS
I Love My Job, But I Don’t Want to Do it Forever!
Building a Practice You Love
The New American Dream
A New View of Retirement
College Education Funding: Helping Clients Evaluate What’s Best
Portfolio Allocations for New Market Conditions
Leveraging the Power of Study Groups
An Interview with MassMutual’s James Ocampo on Critical Illness Insurance
Start with “Why”
Best Practices for Selling Group LTCI
From Yes to Success
Meet NAIFA’s New President
NAIFA’s 2016 Performance + Purpose Conference
NAIFA GOVERNMENT RELATIONS
4 Ways to Build an Effective Email Marketing System
ADVERTISER INDEX
BACK PAGE
Advisor Today - November/December 2016 - cover1
Advisor Today - November/December 2016 - cover2
Advisor Today - November/December 2016 - 1
Advisor Today - November/December 2016 - 2
Advisor Today - November/December 2016 - 3
Advisor Today - November/December 2016 - 4
Advisor Today - November/December 2016 - 5
Advisor Today - November/December 2016 - 6
Advisor Today - November/December 2016 - 7
Advisor Today - November/December 2016 - FROM THE EDITOR
Advisor Today - November/December 2016 - 9
Advisor Today - November/December 2016 - VIEWPOINT
Advisor Today - November/December 2016 - NEW PRODUCTS
Advisor Today - November/December 2016 - 12
Advisor Today - November/December 2016 - I Love My Job, But I Don’t Want to Do it Forever!
Advisor Today - November/December 2016 - Building a Practice You Love
Advisor Today - November/December 2016 - The New American Dream
Advisor Today - November/December 2016 - A New View of Retirement
Advisor Today - November/December 2016 - College Education Funding: Helping Clients Evaluate What’s Best
Advisor Today - November/December 2016 - 18
Advisor Today - November/December 2016 - Portfolio Allocations for New Market Conditions
Advisor Today - November/December 2016 - 20
Advisor Today - November/December 2016 - Leveraging the Power of Study Groups
Advisor Today - November/December 2016 - 22
Advisor Today - November/December 2016 - 23
Advisor Today - November/December 2016 - An Interview with MassMutual’s James Ocampo on Critical Illness Insurance
Advisor Today - November/December 2016 - 25
Advisor Today - November/December 2016 - Start with “Why”
Advisor Today - November/December 2016 - 27
Advisor Today - November/December 2016 - Best Practices for Selling Group LTCI
Advisor Today - November/December 2016 - 29
Advisor Today - November/December 2016 - From Yes to Success
Advisor Today - November/December 2016 - 31
Advisor Today - November/December 2016 - Meet NAIFA’s New President
Advisor Today - November/December 2016 - 33
Advisor Today - November/December 2016 - 34
Advisor Today - November/December 2016 - 35
Advisor Today - November/December 2016 - 36
Advisor Today - November/December 2016 - 37
Advisor Today - November/December 2016 - NAIFA’s 2016 Performance + Purpose Conference
Advisor Today - November/December 2016 - 39
Advisor Today - November/December 2016 - 40
Advisor Today - November/December 2016 - 41
Advisor Today - November/December 2016 - 42
Advisor Today - November/December 2016 - 43
Advisor Today - November/December 2016 - 44
Advisor Today - November/December 2016 - NAIFA GOVERNMENT RELATIONS
Advisor Today - November/December 2016 - 4 Ways to Build an Effective Email Marketing System
Advisor Today - November/December 2016 - ADVERTISER INDEX
Advisor Today - November/December 2016 - BACK PAGE
Advisor Today - November/December 2016 - cover3
Advisor Today - November/December 2016 - cover4
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