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[inaudible] .

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Hello and welcome to the sureties podcast

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tips from the insurance pros. In

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this series we talk with industry experts

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as they share ideas and insights

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you can use today. I'm your host

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Matt and I'm here with our very own

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David Everly who's going to discuss

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new whole life insurance with accelerated

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underwriting as well as the advantages

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it offers to both producers and clients.

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As a regional sales manager, David

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works with sales directors and marketers

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with a focus on recruiting, developing

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and strategy building. Thanks

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for joining us, David.

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Thank you so much Matt . I really appreciate that . I personally

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enjoy these podcasts myself, so

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I really appreciate being able to be part of one as

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well. Thank you.

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Oh, that's phenomenal to hear. As

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with all of our guests, why don't you start by sharing

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a bit of your background?

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Well, I've been in the financial services

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industry for 37 years now , uh

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, first 15 and banking

1:00

services and then the next 22

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and life insurance and protection products. I've

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been both an independent advisor

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as well as a company representative.

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And one of the things I'm most proud of , uh , in

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these , uh , 22 years of, of

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working with agencies and agents

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across the country, I've been in 49

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of the 50 States supporting agents

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and agencies. And I

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know that there are many agents

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today trying to protect

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families and just to be part of that has been

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one of the happiest parts of my career.

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That's awesome. Well, a focusing

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in a little bit on hold life assurities

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new whole life product comes with features

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such as an accelerated death benefit rider

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and limited pay options up front . Can

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you tell us a bit about them and the advantages

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that they offer producers?

1:49

Absolutely. Well first off, let's, let's

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talk a little bit. Let's go back in time and

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we realize that life insurance about 20

1:56

years ago was really expected

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just to do two things. And that is permanent

2:01

life insurance. That is just build cash value

2:04

for supplemental retirement and

2:06

for emergencies and then secondarily

2:08

to pay a death benefit upon the insurance

2:11

death . But if you fast forward to today,

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life insurance has to do much

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more. One of the reasons why we're very

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proud of the new whole life with accelerated

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underwriting is because it offers accelerated

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benefit rider. Now the quiet can

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access the accelerated benefit either

2:27

through a terminal illness option or

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through a chronic illness option, but why do we

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need that? Being able to have accelerated

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benefit rider on our new whole life product and

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give clients access to money used

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for things like medical bills, treatment

2:40

costs, longterm care expenses,

2:44

and just with lost income and

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also met what we've added to

2:48

the whole light is a critical illness

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rider was very important because it allows

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the client to take from 5,000 up

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to 75,000 of benefit for

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cancer, stroke or heart attack

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if they have events such as that and

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they can utilize that to pay for out of pocket

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costs for the health insurance

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plans to pay their mortgage, to

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pay their expenses, to buy food. And

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what's really wonderful about it is

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it does not reduce the death benefit by

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one die. Now that rider has

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a cost but it's a very strong

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benefit for the client.

3:22

Absolutely.

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Another feature that is really strong

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on our new whole life is what we

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call our short pace scenarios. It's

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very competitive for pay

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to age 65 as well

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as their 10 pay and a 20 pay

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option two and why would we do that is

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because the agent and client

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may want to maximize the premium

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and the cash value of their policy so

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they do a short pay into the contract

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and if you take a look at those and our new whole life, they're

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going to be very, very competitive. Those

3:52

are great fits for sales ideas such as buy,

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sell agreements such as executive

3:56

bonus one 62 executive bonus as

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well as supplemental retirement options.

4:02

Similar to our term life insurance,

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assurity now offers accelerated underwriting

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for whole life applications. David,

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what does this mean for both producers and

4:12

clients?

4:13

That's a great question, Matt , and what it really means

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is speed up submission is speed to

4:17

issue . When you think about it, most clients

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and agents want a faster process.

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They want to be able to submit a case faster

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and get that case issued faster. Clients

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don't want to wait for months before they get a decision

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on whether they're going to be insured or not. So

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with our accelerated underwriting process

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and now that our whole life is on that, what

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it offers that the agent and the client

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is a possibility of a same day

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decision and the faster

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that we can get a case issued liens, the faster

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we can protect families and the faster

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we can get a case issued means the

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more likely that client will

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take that case and the agent

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will place. It

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sounds like a great addition to whole life

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then. Where should producers be

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looking for whole life sales and

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what is in your opinion the best way

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to bring whole life protection into the conversation?

5:07

There are a number of sales ideas out there for

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whole life, but I'm going to target three that

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I think stand out. The first

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is around policy review. We

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know that there are a number of policies in the market

5:18

that either underperforming or

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don't have living benefit options like

5:23

our new whole life will have. So by

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talking to these clients with these older

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policies that have passed value, there's

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an opportunity to roll that cash value out

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over to our new whole life and give

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the client a stronger benefit, not

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only of death benefit , certainly

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as a as a safety net, but also

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give them living benefits in the form of accelerated

5:43

benefit rider as well as a

5:45

critical illness rider . Another strong

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sales ideas around supplemental retirement

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planning. We know that there's a lot of clients

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who are looking to supplement their income

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for their retirement. Well , one of the

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options we have with our whole life is to pay

5:59

to age 65 and so

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by say a 45 year old male

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or female funding that as

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from age 45 to 65

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they can build up strong cash value. We have

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a death benefit protection while

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they're saving additional cash

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and at age 65 start

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receiving cash from the cash value of the

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whole life policy. That could be a tremendous

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sales idea for agents as well.

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And then finally, the last sales idea I'll

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give you is around the

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executive bonus or one 62 executive

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bonus. We know that one

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of the biggest expenses for small businesses

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is recruiting and retaining key

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people. As you know, if you,

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if a small business has a really good person,

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eventually a larger company's going to notice

6:46

that and possibly offer them more

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benefits or a better income.

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One of the ways to somewhat mitigate that is

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to offer those employees strong

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benefits where the one 62

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executive bonus, what we can do or

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what the small businesses can do is

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offer a benefit that pays a

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lump sum bonus to

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that employee for every year that they

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stay with the company. Now,

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what does the employee get? They

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get strong benefits, death benefit,

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cash value when they retire, plus

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the living benefits of accelerated benefit

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rider and possibly the critical

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illness rider. What does the company get?

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Well , they get an upfront tax deduction and

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they get to keep their key employee for a

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number of years. So that can be another strong sales

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idea. Now along with a number of other

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sales ideas like college funding, children's

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insurance, reallocation

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of assets into a life insurance

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policy, those can all be strong prospecting

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points for an agent.

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That is a very wide variety

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of uses for a very flexible product.

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Absolutely.

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Now moving on now lastly

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David. What tools does assurity have

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to help producers prospect and to close

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whole life sales?

8:02

Sure. Matt , one of the things we're very proud that our

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marketing department has put together some really strong consumer

8:06

facing pieces that can help an agent

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prospect pieces on

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things such as funding for college education,

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the accelerated death benefit rider and how it

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works, how limited pay options

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work and the best use for them. Also

8:21

children's insurance owned by both parents

8:23

and children's insurance owned by grandparents

8:26

and finally accelerated underwriting,

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how it works and how it benefits both the

8:30

agent as well as the client. Another

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resource we have is your regional sales

8:35

team. Please feel free to reach out to them. They'll

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help you in understanding all

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the opportunities you have with marketing

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pieces, with assurity as well as our new whole

8:43

life product and also help you

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grow your business and bring in additional

8:47

cases.

8:48

That was great. Is there anything more

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that you would like to say about her whole life, David?

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I

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think that the whole life is a product that is certainly

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strong for its time is

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certainly one that is needed for clients who are looking

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for not only death benefit protection and cash

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value growth, but also for living

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benefits in the form of accelerated benefit

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rider as well as a critical illness

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rider as a product for this time

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and certainly one that can help you grow your business

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overall.

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That was a phenomenal overview of our whole

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life product and I'm excited to see agents

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across the country taking advantage of this

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great product. Thanks so much again

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for joining us today. David. Thank you so

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much, Matt . I really appreciate it and to

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our listeners, thanks for tuning in to

9:30

assurities tips from the insurance pros

9:33

to learn more about our new whole life insurance

9:35

product. Contact your regional sales

9:37

team or email [email protected]

9:41

and we'll be happy to connect you with a representative.

9:44

Thanks for listening.

9:51

[inaudible]

9:52

for producer use only not for use with the general

9:54

public, not for use. In New York, assurity has a marketing

9:56

name for the mutual holding company. Assurity group incorporated

9:59

hinted subsidiaries. Those subsidiaries include

10:01

but are not limited to a surety life insurance company

10:03

and a surety life insurance company of New York insurance

10:06

products and services are offered by a surety life insurance company

10:08

in all States except New York. In New

10:10

York, insurance products and services are offered by a surety

10:12

life insurance company of New York, Albany, New

10:14

York. Product availability, features and rates

10:16

may vary.

10:23

[inaudible] .