This bingo card has a free space and 24 words: The "P" in GPL stands for Permanent, GPL is a cross-enterprise product designed, marketed and administered by both Group and Individual, Term Life has lower initial costs but higher costs. Permanent Life has higher initial costs but lower long term costs, GPL has a tax-deferred savings feature (i.e.. Cash value) that can be used for college expenses or retirement, GPL is available for groups of 25 + (i.e. SGS is not able to sell GPL), Issue Ages for Employees is 18 - 70 for GPL versus 18 - 67 for Term, Certificated for GPL can be issued for the Employee, Spouse and Children!, GPL has portability, loans, partial withdrawals, No lapse guarantee and a level death benefit, The minimum amount of coverage for GPL is$10,000. Maximum Amounts are: Employee - $500,000, Spouse - $250,000 and Children - $10,000, When sold with Voluntary Term Life the Permanent or Term Life combined amount cannot exceed 1 million, The Minimum Loan or Partial Withdrawal Amount is $500, The Accelerated Death Benefit rider is a standard no charge rider for the Employee, Spouse and Child, Waiver of Premium is the only optional rider for Spouses and Children. Employees can also select WOP, Life Assist, Accidental Death Benefit, Spouse Term Rider and Child Term Rider, Increases in Face Amount require UW and a new certificate. Decreases are allowed - Opt. A: Reduced Premium or Option B - No Premium (policy has to have been in force 10 years), GPL Premiums are unisex determined by Issue Age and Risk Class (Non-Tobacco or Tobacco), GPL's Guaranteed and Conditional Issue amounts are available on a flat amount or times salary basis. GI limits apply to GPL first, Employee Guaranteed Issue Amounts can range form $50,000 to $200,000 base on group size for people under age 65, Employee Conditional Issue Amounts can vary from $100,000 to $300,000 for people under age 65, GPL Stand-Alone Participation is - 15% or 7 lives. GPL Sold with Voluntary Term Life is 25% or 10 lives. Participation is requirements are waived when GPL is sold with VTL and the Enrollment Success Plan (ESP) is followed, GPL completes the Voluntary Life portfolio, The GPL target market is: Group Size - 50 to 2,500 employees, Age - 35 to 60, Salary Range - $30,000 to $75,000 Groups: those with only Voluntary Term Life Note: Not able to takeover business but can supplement their permanent programs, GPL has a Cross-Sell Discount - A 4% bundling incentive discount on the Voluntary Term Life rate when sold with GPL, There will be no change to the GPL rates. Note: If no GL elections the CSD will not be applied to the VTL, Individual Life will also be selling this product. If Group already has a relationship with a company, Group will handle the sale and Compensation (3 options) - Flat (20% all years), Heaped (Cert: Yr. 1 - 90%, Yrs. 2 to 10 - 5%, 11+ - 2%) and Semi-Heaped ( Cert Yrs. 1 to 3 - 37%, Yrs. 4 to 10 - 5%, Yrs. 11+ - 2%). GPL is eligible for SPC.
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