DI Boot Camp. Housekeeping

Transcription

1 DI Boot Camp A comprehensive Disability Insurance Training Program-Units 1, 2, 3 Presented by LANNY D. LEVIN AGENCY, Inc. & Housekeeping Response & Evaluation Form before you Leave- required for CE Has Anyone NOT supplied a business card? Introductions & #1 Reason You Are Here Breaks Cell Phones & Pagers off please 1

2 First Some Historical Perspective Now. a word from our sponsor 2

3 LANNY D. LEVIN AGENCY, Inc. Guardian General Agency since 1972 Your Intelligent Resource More than a vendor LANNY D. LEVIN AGENCY, Inc. Premier life, disability & LTCi products Helping agents market creatively to prospects and clients Joint work in the field Assisting producers in developing quality relationships with professional advisors Technical support and case-design resources Getting business successfully underwritten 3

4 Mutual company Established 1860 New York domicile Committed to disability business Top tier financial strength & ratings Moody s: Aa2 Standard & Poor s: AA Fitch: AA A.M. Best: A+ 4

5 Guardian s FR Plan* NOW AVAILABLE TO SELECT FEW Rewards consistency and persistency If you are unaffiliated If you are unhappy with your current affiliation If you are capable of consistent production of life, disability & LTCi business (*Financial Representative) Guardian s FR Plan One of The Richest Compensation Plans in the Industry Supplemental compensation years 1-4 Life renewals as high as 18% in year 2 Life renewals on all inforce premium during career even in years 11+ DI renewals as high as 19% in years 2-10, as high as nearly 16% thereafter Post retirement renewals & lifetime service fees on life and DI 5

6 Guardian s FR Plan Matching 401(k) with excess plan above IRS limits Defined benefit pension plan & supplemental excess defined benefit plan above irs limits Comprehensive fringe benefit package with opportunity for free medical insurance coverage Wealth accumulation plan with potential for contributions up to 12% of life/di FYC and 2% of w-2 income (including renewals) Errors and omissions coverage Guardian and Its Agencies Unswerving Commitment to the Mutual Company Model Commitment to financial reps & career distribution system Unparalleled reputation with third party advisors Strength in the affluent and small business owners marketplace Full breadth of products available to meet client s needs 6

7 Comprehensive Support to Build Your Business The Living Balance Sheet sm Guardian Online ( GOL ) robust on-demand 24/7 learning modules Cross-sell and up-sell target marketing campaigns Advanced Market Support Elite Service and Underwriting team for top producers Opportunity for master-level program at American College Living Balance Sheet sm Personal web site for your client Comprehensive aggregation of assets & liabilities; nightly update of values On-line vault of documents Planning tools for you Alerts to you 7

8 Has anyone NOT explored our website? Please visit us at Web Site Resources Help You Write & Track Your Business Request proposals: life, DI, LTCi Download forms, apps, fact-finders, authorizations Request exams. Check status of your pending cases. 8

9 Access Resources and Publications Find out about upcoming meetings & sign up. Contact our staff. Request help on a case. Find archived Guard-o-Grams (monthly newsletters), Sentinel, New & Noteworthy (Guardian Advanced Sales Publications) Download reference materials, sales ideas, etc. we re adding useful items and functionality all the time LANNY D. LEVIN AGENCY Staff Disability LTCi specialist Advanced Planning Life Ins. specialist 2 New Business Coordinators 2 Case Design specialists Policyholder Service administrator Bookkeeper Receptionist 9

10 Our DI Specialist William Thar Sergeant Bill Thar Joined our staff as Disability Specialist 12/96 Paul Revere UCB/TransUnion Pioneer Title U of Mass/Amherst Lives in Winfield with Jackie & Mitch & Audrey 10

11 Continuing Education 3 hours credit for each week Be here by 8:30 a.m. Leave at 11:30 a.m. Response/Evaluation Form CAUTION CELL PHONES IN USE MAY INTERRUPT LEARNING 11

12 THERE ARE NO STUPID QUESTIONS Deep Thoughts Learn To Do By Doing -- A Wise Teacher 12

13 Subjects for Today s Class 1. Why You Should be Selling Disability Income Insurance 2. The Need for Disability Income Insurance 3. Markets for Disability Income Insurance Objective: Working Knowledge Need for disability income insurance Markets & prospects for individual disability income insurance Selling DI to individuals Prospecting & approach Fact-finding and presenting the solution Handling objections and closing 13

14 Objective: Working Knowledge Key provisions and benefits of our disability products Meeting the competition Getting a DI case underwritten and issued quickly and correctly Importance of policy delivery interview as first step in ongoing client service. It is not necessary for clients to know everything Get them only info important and relevant to them Info THEY require to make a decision. challenge is not imparting the knowledge you possess challenge is discovering what the client needs to know and imparting that information This assures and motivates the client to make a buying decision. 14

15 Our Goal: Get You Going with the tools you need Strong Foundation Disability Insurance is a foundation of a strong financial program 15

16 UNSINKABLE PLANS A financial plan that s unsinkable unless it hits an iceberg isn t really unsinkable. And it isn t a plan. It s more in the nature of a bet, and prudent people don t bet on the financial fate of their families. A Moat Around Your Client s Castle 16

17 Nomenclature Disability Income Insurance Guaranteed Income Replacement Insurance Income Protection Insurance Lifestyle Insurance be creative never DI Why you must sell Disability Insurance A unique and valuable product Often overlooked by the financial representative Best & most reliable way to protect your client s income 17

18 What does selling DI do for you? Higher levels of success Greater professionalism More satisfied clients How does selling DI help you? Provide peace of mind Increase your income Prospecting is easier Professional growth 18

19 Complete the Financial Picture O Could you face your client if he or she became disabled and you had not asked him or her to buy income protection? How does it protect you from the competition? O Not leave money on the table O Lock out the competition 19

20 The Marketing Opportunity Only Two kinds of people 1. Dependent on their regular paychecks 2. Financially independent Prospecting Opportunities Owners of small & medium size businesses 20

21 Prospecting Opportunities Professionals Doctors Lawyers Veterinarians Dentists Architects Engineers Consultants Psychologists Prospecting Opportunities Households with incomes of $100,000 and more Salespeople Corporate executives 21

22 Prospecting Opportunities Women in professional occupations Natural segue No additional investment or expense Already spent the time Finding the prospect setting up the appointment driving over 22

23 Prospecting Efficiency I have all the life insurance I need I just bought life insurance My brother-in-law sells life insurance PROSPECTING Prospecting is often the difference between success and failure in our business. Prospecting is the foundation of most sales accomplishments... if done poorly, it is frequently the key reason producers fail. 23

24 How Do You Improve Prospecting Efficiency with DI? More willingness to grant interviews Most people can imagine themselves disabled By pivoting to DI if the interview is not progressing well re: life insurance Multi-life DI Opportunities The Fast Start sale of a DI product is often simpler 24

25 Errors and Omissions your failure to launch. O Don t be at the wrong end of a lawsuit 9Failing to offer disability insurance 9Neglecting to recommend coverage O Discharge your responsibility to offer proper coverage A Door Opener O Selfish sale O Protecting Lifestyle 25

26 Persistency Sell Life & Disability. Persistency improves for both products Morbidity Trends Mortality rates decreasing Morbidity rates increasing Fewer people are dying of such diseases as hypertension, heart disease, diabetes, and cardiovascular disorders 26

27 Summing Up Why Must I Sell Disability Income Insurance? So I can face my client! Build fences around them Market opportunity 4 of 5 need it Commission dollars-nothing better Get in front of more people Broadens my services Usually an easier sale than life Summing Up Why Must I Sell Disability Income Insurance?-2 Avoid lawsuits Door opener Persistency is great, and it improves life persistency Need is greater than ever because of morbidity trends Generate high renewal commissions Sequential marketing=higher profits Helps my prospects to avoid a potentially serious loss 27