Opportunity Interview Experienced Representative. For Agent Use Only. Not for Public Distribution.

Transcription

1 Opportunity Interview Experienced Representative

2 Opportunity Interview Overview During this presentation, I will share with you information about: Transamerica Agency Network Strategy Map Our Company Support Industry Opportunity Our Investment in You Career Path Options Income and Benefits 2

3 Transamerica Agency Network: Strategy Map 3

4 Transamerica Agency Network YOU Insurance Representative Make things that matter in your community. 4

5 Support For You You can build a business for yourself, but you re not by yourself. Local Office Associate Director Managing Director Agency Coordinator Mentor Regional Vice President TAN Home Office Sales Support Marketing Technical Support Industry NAIFA GAMA International LIMRA American College Million Dollar Round Table (MDRT) Hoopis Performance Network (HPN) website Creative One 5

6 We Build Strong Futures Transamerica Agency Network represents two of the most recognized insurance companies in the industry: Transamerica Life Insurance Company and Transamerica Premier Life Insurance Company. You also have access to United Financial Services (UFS), our in-house brokerage firm. Company Ratings A.M. Best A+ Fitch A+ Moody s A1 S&P Global AA- Company Ratings A.M. Best A+ Fitch A+ Moody s A1 S&P Global AA- Ratings reflect the opinion of the relative financial strength and operating performance of the company as of the following effective dates: A.M. Best - June 24, 2016; Moody s - November 30, 2016; Fitch - September 26, 2016; S&P Global - May 12, They do not apply to the performance or stability of a company s variable product investment options. A.M. Best Company, Fitch Ratings, Moody s Investors Service and Standard & Poor s Rating Service are credit rating organizations serving the insurance and other financial services industries. Copies of rating reports are available at The financial strength ratings are subject to change and are not guarantees of future financial growth. 6

7 People Need Your Help 40% of American households recognize they need more life insurance.* * Facts About Life, Facts from LIMRA: Life Insurance Awareness Month, September 2016, LIMRA 7

8 People Need Your Help 56% of households said they were more likely to buy life insurance when advised by a trusted financial professional.* * Facts About Life, Facts from LIMRA: Life Insurance Awareness Month, September 2016, LIMRA 8

9 People Need Your Help 80% of households who believe they need life insurance say they don t buy because of other financial priorities or they can t afford it.* * Facts About Life, Facts from LIMRA: Life Insurance Awareness Month, September 2016, LIMRA 9

10 People Need Your Help Today 70% of households said they would have trouble covering everyday living expenses after several months if the primary wage earner died.* * Facts About Life, Facts from LIMRA: Life Insurance Awareness Month, September 2016, LIMRA 10

11 Live a Life of Significance Give peace of mind to survivors when a loved one dies prematurely Provide people with a worry-free retirement with income they can t outlive Protect clients income to help maintain their quality of life should they become sick 11

12 Training and Development It s about more than just helping our clients have better financial futures. It s about your future, too. Transamerica Agency Network offers its representatives: In-person, field-led training A Virtual Training Platform Developing Representative Series Experienced Representative Series Advanced Markets Series Online TASK Modules Industry Training American College Hoopis Performance Network Leadership Development Program Million Dollar Roundtable (MDRT) Mentor/Aspirant Program TAN Leadership Program TAN Leadership Academy 12

13 Our Services It s our desire to create a better financial future for each and every client. This drives everything we do. We offer: Family Protection Retirement Strategies Estate Planning Business Planning Buy Sell Agreement Key Person Insurance Executive Bonus Lifestyle Planning Income Replacement Strategies Personal Financial Inventory Agents must obtain certain licenses and designations to sell the particular products and provide services mentioned above. Transamerica Agency Network and its representatives do not give tax or legal advice. This material is provided for informational purposes only and should not be construed as tax or legal advice. Clients and other interested parties are urged to consult with and rely solely upon their own independent advisors regarding their particular situation and the concepts presented here. 13

14 Our Products Our goal is to provide a client with a future they can count on should the unexpected happen, which is why we offer a wide array of products. Transamerica Products Term Life Insurance Term Life with Living Benefits Universal Life Insurance Whole Life Insurance Index Universal Life Insurance Cancer Insurance United Financial Services (In-House Brokerage)* Annuities Disability Insurance Long Term Care Insurance Life Insurance Substandard Life Insurance Medicare Supplements Employee Benefits Second to Die Guaranteed Issue Worksite Products *Non-Transamerica company products are provided through Transamerica Agency Network. 14

15 Earn What You re Worth With Transamerica Agency Network, you control your livelihood. Not the clock. Not a glass ceiling. You. You can enjoy unlimited income potential and job satisfaction. You are Awarded for Your Efforts New Business Commissions Renewal Commissions Sales Bonuses Semi-Annual Bonuses INSURANCE ESTATE PLANNING RETIREMENT Manage multi-tiered strategies for your clients to build wealth. BUSINESS PLANNING 15

16 What Will Your Future Be? You define your career path. Your potential is as unlimited as your energy, commitment and drive. We provide the encouragement, direction and rewards. Estate Planning Business Planning Regional Vice President Managing Director Retirement Strategies Associate Director INSURANCE REPRESENTATIVE 16

17 Opportunity for Growth Wherever you begin your career, you have an opportunity to advance at the local level. INSURANCE REPRESENTATIVE GREAT GROWTH POTENTIAL MANAGING DIRECTOR ASSOCIATE DIRECTOR 17

18 Career Benefits As a Transamerica Agency Network Insurance Representative, you can enjoy these valuable benefits: New representative financing Comprehensive compensation package, including benefits with 401(k) and a pension Professional training and career development programs Established client base for immediate referrals and cross selling opportunities Significant opportunities for growth and advancement. The information above is published to provide a benefits summary in an easy-to-read manner. This is not a plan document. You cannot rely on any conflict or inconsistency between this information and the underlying plans to give you rights not provided in the plans. The terms and conditions of all employee benefit plans are governed by the respective plan documents and their respective insurance policies and contracts, which will control in the event of conflict or dispute. No employee has the authority to verbally change any provisions of the plans or legally bind the company. 18

19 Once-in-a-Lifetime Trips and Incentives Alaska Dominican Republic Los Cabo Where will our next trip be? And will you be there? Trips and incentives listed are an example of past trips and incentives. Under current tax laws and regulations gross income includes amounts received as prizes and awards. Accordingly, the value of your award/trip will be treated as additional compensation for purposes of any applicable tax reporting. 19

20 Are You Ready to Take Control of Your Future? OPPORTUNITY INTERVIEW Understand the industry, our company and the opportunity. CAREER INTERVIEW Learn more about the career while we discuss your background and experiences. You commit to us and we commit to you. Meet with the support person in your life. COMMITMENT MEETING VIP MEETING Transamerica Agency Network is a marketing group with Transamerica Premier Life Insurance Company and affiliated Transamerica companies offering insurance and financial products. 20

21 Career Interview Experienced Representative TAN10006/

22 Career Interview Overview During this presentation, I will share with you information about: The Transamerica Brand Our Product Portfolio Training and Development Resources and Support Compensation Benefits Expectations 22

23 Transamerica Brand Awareness Transamerica: A Brand They Recognize 23

24 Professional Golf Sponsorships Zach Johnson, Kyle Stanley and Azahara Munoz 24

25 Our Product Portfolio: Transamerica Premier Life Insurance Company Index Universal Life (IUL) Whole Life Term Life Final Expense Health Transamerica Financial Foundation IUL Index Universal Life Insurance offers both an S&P 500 Index Account, which uses the S&P 500 Index to determine Excess Index Interest and a Global Index Account that uses the S&P 500 Index, the EURO STOXX 50 Index, and the Hang Seng Index to determine Excess Index Interest. Dynamax This is traditional whole life with the benefit of earning excess interest, and guaranteed level premiums with guaranteed cash values. LP95 This is Level Premium whole life with cash values, and premiums and death benefits that are guaranteed for the life of the policy. 20 Pay Life This is Level Premium, limited payment whole life with cash values, and premiums and death benefits that are guaranteed for the life of the policy. Easy Acceptance Not offered at time of sale, this is a counteroffer. This is a 20 Pay Life Graded Death Benefit that provides a level amount of insurance after the second or third year, payable at the death of the insured. Flex Term 7 This is seven (7) year term life that provides level protection. Premiums are guaranteed for the first year after issue and Intermediate thereafter. Immediate Solution This offers an immediate Level Death Benefit, level premiums to age 121 and first day full coverage. Easy Solution This offers an immediate Level Death Benefit, level premiums to age 121 and first day full coverage. 10 Pay Solution This offers an immediate Level Death Benefit, level premiums for 10 years and first day full coverage. Cancer Expense This coverage helps pay specified inpatient, outpatient and other medical expenses incurred in connection with the treatment of cancer. (Varies by jurisdiction) Cancer Check This offers term to age 65 cancer insurance policy designed to help provide financial assistance if diagnosed with cancer. (Varies by jurisdiction.) Medicare Supplement Medicare Supplement Insurance is a health insurance product that can help pay some of the health care costs not covered by Medicare. (Check state availability.) Insurance products issued by Transamerica Premier Life Insurance Company, Cedar Rapids, IA

26 Our Product Portfolio: Transamerica Premier Life Insurance Company Term Life Trendsetter Super Series Guaranteed level premium term life insurance to age 105. YRT is Term Life to age 95. Includes Terminal Illness Accelerated Death Benefit and Income Protection Option (IPO) in states where available. Trendsetter LB Series Term Life Insurance to age 105. Simplified Issue Term available to $249,999.Traditional death benefits with living benefits included at no additional premium cost. Clients can access a portion of their death benefit while living, should they experience a chronic, critical or terminal illness. A maximum benefit of $1.5 million may be accelerated. Insurance products issued by Transamerica Premier Life Insurance Company, Cedar Rapids, IA

27 Our Product Portfolio The following products are offered by various companies through the United Financial Services In-House Brokerage: Annuities American Equity American General Allianz American National Athene Annexus F&G Forethought Genworth Great American Guggenheim Voya Lafayette Lincoln Financial Group North American National Western Life Symetra Individual Life Allianz American General Accordia Life AXA Foresters Genworth Voya John Hancock Lincoln Financial Group MetLife Mutual of Omaha Nationwide North American Principal Protective Life Prudential Symetra Medicare Supplements Mutual of Omaha Substandard Life Columbian Life Insurance Company Long Term Care Transamerica John Hancock USA Genworth MedAmerica Disability Ameritas/Union Central Assurity MetLife Mutual of Omaha *Non-Transamerica company products are provided through Transamerica Agency Network. 27

28 Compensation New Representative Compensation Financing Pool: Used to fund a bi-weekly pay minimum based on production Sales commission and Sales Bonus available from the effective hire date Renewal compensation paid after 16 weeks Additional bonus for validation at week 16 and week 52 First-Year Sales Commissions Commission rate applied to annualized premium 50% sales commission advance with the remainder paid as premiums are applied Renewal Commissions Commission rate applied on an annualized premium basis as each premium is paid and applied Commission accumulated each bi-weekly cycle Renewal persistency factor impacts renewal commissions 28

29 Bonuses Sales Bonus Calculated on a rolling 12-week basis and paid bi-weekly Minimum first year persistency rate required after 14 th full month with the company Semi-Annual Bonus Two semi-annual bonus payouts based on six-month production periods from January 1-June 30 and from July 1-December 31 each year Minimum placements, first-year persistency and renewal persistency required 29

30 Benefits Medical Plan Vision Plan Flexible Spending Retirement Account Account (FSA) The company offers a Consumer Driven Health Program that puts you in control of your health care. Employees can see any provider, however, out-of-pocket medical expenses will be less when using United HealthCare providers. The Medical Plan: Provides 100% preventive care coverage Includes a health reimbursement account funded by the company Provides prescription drug coverage The highest level of benefits is available for employees who work with a provider in the national VSP Choice Provider Network and Affiliate Providers. The Vision Plan: Provides benefits toward the cost of an annual eye exam as well as required eyeglasses and a frame or contact lenses Discounts available for laser vision correction An FSA is a tax-favored account that allows employees to put beforetax money aside to pay for eligible health care and dependent care expenses. The company provides a Health Care and Dependent Care Flexible Spending Account. The Company helps employees plan for retirement through a combination of retirement benefits. 401(k) Cash Balance Social Security Pension Plan Eligible after six months of continuous employment. The company matches 100% of the first 3% of eligible compensation an employee contributes each pay period. The company match is subject to four year graded vesting schedule. The employee has a choice of 18 investment funds, plus a Schwab selfdirected Personal Choice Retirement Account with additional mutual fund and investment options. Funded entirely by the company at no cost to employees, the Pension Plan provides a retirement benefit based on age, years of service, and eligible earnings. The Plan includes a Cash Balance formula, which provides employees with a retirement benefit that grows steadily over the course of one s career. The benefit is subject to a three year cliff vesting schedule. The company contributes to its employees social security. This information is published to provide a benefits summary in an easy-to-read manner. This is not a plan document. You cannot rely on any conflict or inconsistency between this information and the underlying plans to give you rights not provided in the plans. The terms and conditions of all employee benefit plans are governed by the respective plan documents and their respective insurance policies and contracts, which will control in the event of conflict or dispute. No employee has the authority to verbally change any provisions of the plans or legally bind the company. The benefit summary above was current as of August

31 Benefits INCOME PROTECTION Income Protection ensures that you and your family have financial security should the unexpected occur. Life Insurance Accidental Death and Long-Term Disability Dismemberment Insurance The company provides employee coverage equal to basic annual earnings at no cost. An employee may purchase additional coverage at group rates up to 4X annual earnings. Dependent life insurance coverage is available to purchase for an employee s spouse and children. Employees may purchase AD&D insurance at group rates to provide coverage for loss of life, limb, sight, speech, hearing or paralysis as a result of a covered accident. The company pays 50% of basic monthly earnings after 180 days of disability. An employee may elect an additional 10 percent Long-Term Disability (LTD) benefit at their cost, bringing the total LTD benefit to 60 percent of basic monthly earnings. Premiums for the optional coverage will be deducted from the employee s paycheck on an after-tax basis. Eligibility for disability benefits begins on the first of the month following the first anniversary of the date the employee began employment. This information is published to provide a benefits summary in an easy-to-read manner. This is not a plan document. You cannot rely on any conflict or inconsistency between this information and the underlying plans to give you rights not provided in the plans. The terms and conditions of all employee benefit plans are governed by the respective plan documents and their respective insurance policies and contracts, which will control in the event of conflict or dispute. No employee has the authority to verbally change any provisions of the plans or legally bind the company. The benefit summary above was current as of August

32 Expectations Time & Activity Daily Activity Weekly Activity Monthly Activity Time Commitment Online Activity Tracking Training Weekly Meetings District Office Training Joint Field Work 10-Week Training Assignments FSCP Courses Hoopis Performance Network 32

33 Are You Ready to Take Control of Your Future? OPPORTUNITY INTERVIEW Understand the industry, our company and the opportunity. CAREER INTERVIEW Learn more about the career while we discuss your background and experiences. You commit to us and we commit to you. Meet with the support person in your life. COMMITMENT MEETING VIP MEETING Transamerica Agency Network is a marketing group with Transamerica Premier Life Insurance Company and affiliated Transamerica companies offering insurance and financial products. 33

34 Commitement Meeting Experienced Representative TAN10006/

35 Commitment Meeting Overview During this presentation, I will share with you information about: The Opportunity Your Commitment Our Commitment 35

36 The Opportunity Strong Growing Company Industry Opportunity Live a Life of Significance Training, Development and Education Resources and Support Products and Services Career Path Compensation Bonuses Trips and Incentives Benefits Case Management Office Expenses UW Resource Expertise 36

37 Your Commitment Work with a field trainer during initial training period Obtain errors and omissions (E&O) insurance coverage Attend regular meetings Complete your development path Commit to the sales activity necessary to reach your goals 37

38 Our Commitment Help set up an initial training calendar Provide all necessary sales, marketing and technology tools Assign a field trainer during initial joint work Assist in learning all phases of the sales cycle Monitor thesales cycle and training progress Provide a mentor to help you reach your sales and career goals Transamerica Agency Network is a marketing group with Transamerica Premier Life Insurance Company and affiliated Transamerica companies offering insurance and financial products. 38

39 Transamerica Agency Network is a marketing group with Transamerica Premier Life Insurance Company and affiliated Transamerica companies offering insurance and financial products. Transamerica Premier Life Insurance Company is an Equal Opportunity Employer TAN10006/2.17