Life Cycle of a Group Benefits Plan

Lesson 1: Prospecting a Group Benefits Plan

1. Group Benefits Account
2. Life Cycle Stages
3. Prospecting Defined
4. Prospecting for New Clients
5. Significance of Marketing to the Prospecting Phase
6. Reasons for Marketing
7. Approaches to Marketing
8. Frequency of Marketing a Group Benefits Plan
9. Key Steps in Marketing a Group Benefits Plan
10. Request for Proposal (RFP)
11. Purpose of the Cover Letter
12. Letter of Appointment

Total pages in this lesson: 12 pages

Lesson 2: Quoting/Proposing and Selling a Group Benefits Plan

1. Quoting/Proposing and Selling Defined
2. Role of Insurers in Quoting/Proposing
3. Factors That Influence Whether to Propose/Quote
4. Reasons for Not Quoting
5. Importance of Experience Information
6. Typical Components of an Insurer's Proposal
7. Additional Information Included in an Insurer's Proposal for Small Groups
8. Additional Information Included in an Insurer's Proposal for Midsized and Large Groups
9. Preparation of an Insurer's Proposal for a Small Group Compared to a Large Group
10. Criteria Typically Used By Plan Sponsor to Analyze an Insurer's Proposal
11. Analyzing the Service Factor in an Insurer's Proposal
12. Quantitative Analysis of an Insurer's Proposal
13. Role of Finalist Presentation in Selling
14. Key Areas Addressed in a Finalist Presentation
15. Questions Commonly Asked in a Finalist Presentation
16. Factors That Influence a Prospective Client's (Plan Sponsor’s) Choice of Insurer

Total pages in this lesson: 16 pages

Lesson 3: Implementing and Servicing a Group Benefits Plan

1. Implementation Defined
2. Steps in the Implementation Stage
3. Develop Master Application
4. Communicate the Plan and Enroll Employees
5. Prepare and Issue Group Documents
6. Install and Administer
7. Establish Ongoing Service Relationships
8. Servicing Defined
9. Responsibilities Involved in Servicing
10. Titles Involved in Servicing
11. Key Contacts in Group Benefits Services Arrangement
12. Account Executive
13. Group Service Representative

Total pages in this lesson: 13 pages

Lesson 4: Amending/Renewing to Terminating a Group Benefits Plan

1. Amending Defined
2. Lead Time Prior to the Effective Date of an Amendment
3. Notice of Amendments
4. Amendment Request
5. Steps for Implementing an Amendment
6. Renewing Defined
7. Lead Time for Proposed Renewal Terms
8. Renewal Documentation
9. Plan Termination Defined
10. Plan Termination by an Insurer
11. Handling Plan Termination
12. Change of Insurer

Total pages in this lesson: 12 pages

Lesson 5: Ethical Decision Making

1. Business Ethics Defined
2. Characteristics of Ethical Problems
3. Questions to Address Ethical Situations
4. Business Ethics Resources
5. Human Rights Legislation
6. Privacy Legislation
7. Canadian Life and Health Insurance Association (CLHIA)
8. CLHIA Consumer Code of Ethics
9. Ethical Issues for a Plan Sponsor
10. Ethical Issues for a Plan Member
11. Ethical Issues for an Agent or Broker/Consultant
12. Ethical Issues for an Account Executive
13. Ethical Issues for a Group Service Representative

Total pages in this lesson: 13 pages