Transcription
hello everyone, welcome to the SRS liftoff call. My name is Frank Euphemia. I have the honor of introducing our host today, Miss Amy Bruce from FNG. So she's gonna go over some announcements, and and like I was talking to Zach a little earlier about some of the stuff Amy was going to go over, and and Amy, I I he's like, "they got to sell this," I'm like, "this sells itself." So, with all due respect, like if she goes over what they're going to go over and FNG's volume doesn't pop, something's wrong. Like kindergarten math kind of stuff. Like I go to my two-year-old niece, "Do you want four lollipops or two?" Like she's smart enough to go, "I'll take four." That's simple math, right? So I'm excited for what they are going to talk about today. I think it's going to be big for FFL, big for FNG, big for your clients, big for everybody. Like it's a win-win-win across the board. So Amy, are you—
I sure am. How's it going, Frank?
Excellent. How are you doing?
Very good, thank you. Always good to see you. You're always—I don't know if I've ever seen you not smiling, which is nice because, you know, I think it's a lot easier and makes everybody feel good when people smile. So thank you for that. I'm gonna turn it over to you. If you need me, I'll be here, but I'm gonna mute out and let you rip.
All right, well, we got a lot to go over today, so thank you guys so much for having me. Um, I have enjoyed the last two years of getting to know all of you so, so very well. FFL, I'll don't tell anybody else, but it's my favorite group. So, um, thank you guys so much. We got a lot to go over today. Um, the first most important thing, I'm gonna go ahead and share my screen over here, is we have made some changes. We have made uh drastic improvements to our Everlast product, which is the highlight of our conversation today, right? So we know that telephone interviews and APS's, they're all kind of a pain for you guys, so we wanted to be able to get rid of them for some of our clients so that you guys can have a faster processing with the underwriting. So our Everlast product, we don't talk about it much, we haven't talked about it much, so we are definitely reintroducing this product to everybody. This is our death benefit focused product. So if you have clients that are looking at Mutual of Omaha for that IUL, they're looking at the Americo product for their IUL, they're trying to get that benefit sale, this is an alternative to that, and it's an alternative that's going to pay you 100% of your commissions. So we're not taking a shortcut on that; we're not removing that from the policy; it's still very much going to be paid out to you guys. So long story short, if we've got a client that is looking for $500,000 or less in coverage, they are under the age of 60, you guys go through, give us that very detailed underwriting picture that we know you're so good at, give us the date, the diagnosis, the medications that they've received, we can pass that over to an underwriter, and in about three to five business days, some of them are a lot less, we can get you an underwriter's decision that's going to pay you out full commissions.
So how does this look with the other products? I went ahead, and we already did that for you. So we went through and we compared a 50-year-old male with a $200 per month budget, okay? Pretty easy to shop for, pretty easy to compare those. We went through and said, "Hey, what's the biggest death benefit that we can get for the client doing $200 a month?" And that's it. So if you look at ours compared to the three other competitors that we have out there, we're paying that client anywhere from 10 to 20% more in death benefit. So they've got more coverage for their family, they've got more protection, we've got more commissions that's to be paid out to you guys as well. So not only do we have that 20% more commission percentage overall, it's more commissions in general. Our Target Premium on this particular product with this example is $3,600; we're going to pay that all out to you guys. Now, year one, it's going to be whatever your Advance is, up to a cap of $2,400, because we know that's what the client's putting into the policy, but then in policy year two, you're going to get the rest of that commission paid out over the first six months. So again, $2,400 is going into the policy the first year; that's what we're going to be basing your commissions off of for year one, but then year two you get the rest of that, so we make you whole when it comes to those commissions that are paid out to you guys. So if you just look at this across the board, Mutual of Omaha, I know it's a great product; it it goes through really fast; you've got that really rapid decision-making, but you get a lot less when it comes being, you know, paid out to you guys. So if we just look at that for the client, we've got 20% more death benefit; we've got a significantly 42% more commission that's being paid out to you guys. So I love this product; it is a great death benefit focus sale. I would not look at this for clients that are looking for cash value accumulation; your Path Setter are still going to be the winner for that. Um, Path Setter underwriting is not changing. So if you put an application through, we see differences between what we were given versus the reports that we see, we can go out, get a telephone interview, get an APS, get that full detailed underwritten picture for the client, but if your client just wants that death benefit and you guys want that quick sale, this is your option. We're still going to ask that you be as detailed as you absolutely can when it comes to that application. Have your CH—um, have your client go through and pull up their MyChart, right? Everybody's got the app on the phone that gives them the medication that they've been prescribed or their visits to the doctor, those types of things. Have them pull that applic—that particular application up on their phone, go through that, get that information, plug it into the application, and help us make that best decision for your client. Um, I had one of Stephen Ye's agents go through, write a policy; she wrote the policy on Saturday; we got an approval yesterday; that thing is often issued; we're going to draft it tomorrow. So faster turnaround time for you guys, faster process for you guys on these. Um, yeah, they're going to have to wait a little bit longer than Mutual of Omaha, but for a $30,000 difference in your death benefit, I think that's okay. Uh, personally, I'd wait a few days for an extra $30,000 to protect my family. All right, so we can go through illustrations and do all that; I'm not going to go through that right now because that would be a lot, but I want to help you guys take that application.
Oh, I forgot this too, so sorry, I forgot this little teaser: We're taking you guys to Portugal. So not everybody, but a good chunk of you guys, we're going to take the top 10 IUL producers out to an all-expenses-paid, five-star resort in Portugal. We'll take care of the airfare; we're going to take care of your partners' airfare; we're going to take the top 10 life producers, the top five annuity producers, and the top five managers. So it is going to be a very exclusive trip. This is just for for you guys at FFL. This is the second time that we have done this for you guys. We're going to take a a group out to Scotland here in just a couple of months; I think it's in July, and then in April of 2026, we're going to take out another group to Portugal. So I'm gonna send out updates on all of that; we're going to get an email campaign going; we we've got signatures already set up to kind of tease all of that. The competition started in January, so you guys are already in it and you didn't even know. Um, so get those applications in. Sell this Everlast product; sell the Path Setter product. I'd love to take everybody to Scotland, but I'd also love to um see who gets to go. So I'm excited. Frank wants to go.
All right, so how to take the application? It's actually pretty simple. Um, so if we go to Forms and Materials and go right down here to Online Application, it's going to give you two questions: Are we doing an annuity? One, are we doing a life product? So we are going to go into the life product. The only thing I just want to mention right here on this screen is make sure that under that agent code it has your life code listed. I know that some of you guys have a different annuity code than your life code, so I just want to make sure that your life code is listed here, and we'll go ahead and click on Select, and it'll spin, and then we're going to go ahead and just start a new life application, and this particular agent I'm impersonating is licensed in Iowa, and we'll go right to the Everlast Wizard and click Create, and this little window pops up; it's going to ask you about your client's information. I would encourage you to put the client's name. Um, I don't know if you guys saw that on the first slide, but you can kind of see everybody that you've done before, so if you need to backtrack just a little bit, go back into an old case, com, you know, copy information over, whatever that is. I would just encourage you to put the name. We'll go ahead and click on Create, and away we go, and it's going to ask you all those same basic questions: Is this a virtual application? Yep, sure is, and they are in the state of Iowa, and we're going to do 100%, so it highlights everything that's missing for you guys except your validate down here at the bottom. We're going to make sure that we've got that um state in there; everything's good to go, and we can click Okay, and then you see my little red cartoon talkie bubble has gone away, so I don't have anything else that's missing here, and go ahead and click on Next, but my my little cartoon talkie bubble has come back, so we'll go ahead and add in that client information, and I'm going to cheat and use some pre-filled info, put that in there, and it spins; it adds our city and our state. Uh, let's see, put my phone number in there, and then if you put your client's email in here, I know some of my agents have asked this before, but when you put the client's name, email in there, um we actually send out a confirmation email at the very, very end that says, "Here's the application that you have gone through and you've submitted," lets the client know all the detail that's been filled out and the information, and away it goes. So it's nice confirmation to help your clients know that, hey, they're actually talking to a real licensed agent; they're really working with a um a reputable company, and we're going to get them taken care of. So we'll keep going here, social security number, all the information you guys will find all of this out while you're talking with your client, and I'm going to cheat and use my pre-fill stuff because I might have done this one or two times before. That's a really short guy. Oh well, 5 foot 8. Did I put—oh, I put 5; I'm 5'4"; that's why I put that down there. So I'm very short; it's fine. All right, they've been with the company for a while; we keep putting that in there. No spouse, writer; they're not married; and then right down here, this question, just kind of pause a little bit and read this one: Is the owner and the primary insured the same? If you click Yes, no more questions asked. If it's a juvenile, obviously we're going to go ahead and click on No and get that switched over. Um, but we'll just verify that ID. So this actually starts pulling that live information; it's going to go through; it's going to start pulling the motor vehicle report and getting that information because they gave us their driver's license. Um, is the payer different from the owner? No, they're not. Do they have a second home somewhere else? No, they don't. We'll just put in one beneficiary, but if they have 15 in there, please let us know all 15 beneficiaries. Um, all we ask for upfront right now is going to be the name of the client, so I'll just make Larry my beneficiary for now, and that's it. Click Okay. Insurance amount, we're going to go ahead and put in $300,000. My product, I already picked that. Most of the time when we're doing the Everlast, it's going to be a level death benefit option because that's going to get you the cheapest policy. So level death benefit uses the client's own value to kind of offset our risk, making it a much less expensive policy in the long run. So if we have a $300,000 policy and they've got $50,000 built up, they're actually only paying the cost of insurance for that $250,000 difference, so it's a nice way to make it even better for the client. Um, no additional policies out there, and we'll go ahead and keep going. Now, on the features and funding, this one's going to be a little bit different. When we illustrate the Everlast, it's always going to be 100% into the S&P 500, annual point-to-point. Um, so annual point-to-point, 100% going in, lock that in, and then our premium payment of $200 per month, monthly, and then last question down here on the bottom: Are we setting up that PAC form? Um, if we are, we'll go ahead and click on Yes, plug that information in. If they don't want to give you that bank account information right now, you can go ahead and click on No. I would encourage you to get that bank account information right now because if we can get that, we can get it going. We click number one; this is your fastest way to get that policy issued and get those commissions paid out. So this is drafting on approval; this is going to say, "Hey, once my Underwriters have cleared it, we're ready to go to issue." It's going to a draft in about 24 to 48 hours from that underwriter's approval. So I like number one. Um, other options are available if your client does need a specific day or if they want to wait and have that conversation before it drafts, you can pick option two or three. Again, I like one. Uh, I'm going to go ahead and click on No because I am terrible at guessing the format for bank account numbers and routing numbers. That actually makes this go through the test environment. I'm gonna go ahead and click on Skip, and then you're going to see I'm at 100%. So this is part one, 100%. Uh, to get me here, all I needed to know was the client's details, just basic details, face amount, premium going in, uh, what allocations we had picked, and that's really about it. So we can go ahead and click on Continue, and something that we do that's a little bit different is we can go ahead and collect signatures in this virtual environment. So if I go ahead and I click on Sign Now, I'll jump right down here; I put in that driver's license again; make sure we've got everything right; we'll verify that information; and now, because I'm in Zoom, maybe this will do it for me. I can go to Zoom, and then there's an option that's titled Remote Control. I can go through; I can find Frank. Frank, I'm going to pick on you right now. I've now given control of my computer over to Frank. So because he's my client, I'm going to ask him to take that mouse and go down to that lower left-hand corner, check mark that he's reviewed all of the terms and conditions, make sure that this application is going to go through, and one more there, and now we can go ahead and sign. So he can type his name; he can scribble the name just like that; that's perfect. He'll do—he'll type his name in the top right there for, so we have that, and then he'll let us know what city and state he's in as well. We want to make sure that's in Iowa, so we're going to cheat just a little bit today, and then after he types in that state, perfect, we're going to go ahead and click on I Consent, and now we're off to the second part of our application. So I'm going to come back up here; maybe it'll let me do it. All right, so I'm going to stop my Remote Control, take my computer back, go ahead and click on Continue, and this is going to take us into the rest of that application. So let's go ahead and dive into that as it spins here just a second. Gotta love the virtual environment when it thinks a little bit extra hard. All right, perfect. So number one question it asks you is what type of an illustration you're going to generate. I know I've got a lot of agents that collect the signatures beforehand; I don't. I'll go right through here, and I'll say I'm submitting an illustration without a signature. This is going to tell the software, "Take care of that signature for me." I don't want the client to have to sign multiple times and multiple places; I'm going to take care of it here. So I go ahead and say I'm doing an illustration; no, it's not already signed; I'm going to go out to upload; I'm going to go find Mad's policy; this is not the right one, but that's okay; going to go ahead and find that, get that uploaded and added. You can drag and drop into that space too, if if you want to. All I did was click on this file space, and it pulled up my desktop and found that file for me, so I've got that uploaded, and we'll click on Close, and I know a lot of questions have popped in, so I appreciate you guys going through and some of you answering them for me. Um, and then we'll go Next, and now it's just going to be: Are we doing any type of replacement? Are there policies pending? What's going on out there? Don't have any of that, so I'm going to click on No, and then here comes the fun questions, right? Are we doing any type of refinancing or take, you know, taking out loans to pay for this policy? No, we're not. Um, are there any declines out there? Just go through each of one of each one of these questions; answer it as best as you can; get as much detail as you can. If you click on Yes, so let's say this guy got convicted of a felony because uh, can't even think of a good one right now, but um, we're going to put that information in here, so I—because my Underwriters are going to see it anyway, you're not giving us any state secrets; they're not telling us anything we don't already know; this is simply an opportunity for your client to confirm what we already see and give us their version of those details; give us their story. Same thing here; we're going to go ahead and, you know, put in the client's medical information. If they they have a doctor, they don't have a doctor; they primarily use urgent care and those types of things; it's okay for you to tell us, "No, there's no primary care physician." Um, but if they have one, definitely include it, and then keep going. If they say that they don't have a primary medical care physician and they go through and they say Yes on any one of these things that's a little bit of a red flag, right? Um, if they've got asthma or a stroke or clot issues, they're going to have a primary care physician; we want to make sure we put that down, and we'll just keep going through this entire list: Any immune disorders, stomach [Music] issues, all those fun questions. Make sure you slow down and go through them a lot slower than I'm doing right now. We'll keep going with No, No, and then last one: Are there any medications? Do they have—um, we kind of were looking for the last five years of prescriptions. So again, that MyChart application that they have is going to help us out. Um, that is a great question: Has the illustration been signed? I did click on No. I'm not suggesting that you don't validate and sign the illustration; I'm just saying that you don't have to. So when you're out here in your illustrations, let me just bring up—bring up this one. So this is just an illustration that I did for a random case. Oh, this is a juvenile. Um, right down here on page six is going to be your signature statement, and it obviously doesn't have any information down here for signatures. If you upload that blank illustration, the software is going to take care of applying the signatures for you without you having to go through and do that. I personally like that a little bit better because you're running the illustration anyway; let the software take care of that signature for you so that you don't have to worry about that. Um, and then this is our final question: Are there any other policies associated with this particular client? Let us know if you've got a family of 15 that we're putting those applications in for; we can keep them all together, issue them all at the same time, help you deliver it all at the same time, or if there aren't any, click on No, and then this last question right here: Are there any special instructions in the processing this application? If you click on Yes right here, "Request to mail the policy pages to owner," we default to send the policy pages to you, the agent. If you want us to send those to the client, just let us know that in the special instructions; we'll get that taken care of for you and automatically mail it out to the client. Now, you may still need to get a signature for some delivery requirement, but we'll work with you to make sure that you can get that taken care of, and you can DocuSign all of those. So we'll go ahead and click on Next, and we're just going to confirm; we're locking in all of the information; we're going through all those questions just to double check and make sure, and we'll click Continue, and it's going to take us into that second signing ceremony. So I'm going to go ahead and click that, and it's going to spin, and here we'll do the same process; we're going to have Frank sign now, put that driver's license in there again, and go up to here, Remote Control, and then I'm going to do the same thing; I'm going to ask Frank to go through, check mark that box. If he really wants to go through and review all the pages, he certainly can. Um, definitely your client's choice, and we'll do the same signing process, keeping them involved in this appointment so they don't have to wait for an email; they don't have to wait for a verification, all of that. So perfect. All right, now go back up here and take back my control, and I'm going to sign as the agent. I'll do the same thing; review all those documents; make sure everything is good to go; we're going to put in—I'm going to scribble my signature, click on I Consent, and click on Continue. We're going to go ahead and apply for that, send that over, and now there's a couple of different things that you might see when this pops up. One of them is going to be, "Your application is pending transmission," which is—it's fine; it's going to go over to the underwriter; they're going to go ahead and review that. The other option is going to be, "Congratulations, your application has been approved." We are offering instant approval for super healthy clients right now, so you can see either one of those two messages. So it's either going to be a, "Hey, yes, here we go," or it's going to be a, "Hey, we're going to send it over to the underwriter; we're going to have them review it and let you know what we decide." So just to show you what it looks like too, I'm going to go to display this PDF, print the entire thing, so—and jump down here to my illustration. So my illustration automatically went through and put my signatures where they belong, so it's just a little bit of an easier process in my opinion than going out and doing the review and sign illustration, especially since most of the time when I'm sending quotes out, there's no agent name; I don't—I don't put any agent name out here most of the time; it's not default as part of the illustrations that I send out, so it's just easier for me to to tell you guys to do it this way. And yeah, I think that's—I know I went through a lot; that went really fast, and I'm so glad that Frank recorded this. Um, and yes, please type any questions in the chat; I can go back to different parts if you guys need me to.
Um, well, Amy, I'd like you to go over a couple, couple things again, like, but I do want to emphasize: If you're not getting banking information, you're head-faking your your numbers. Like we're not—you're not writing an app, and if they don't give it to you now, they're not going to give it to you tomorrow; they're not going to give it to you later on; they're just getting you off the phone because they don't want to talk to you ever again. So don't, don't do that because what happens is if you start submitting apps with no banking information and they don't issue, Amy and FNG will call and say, "You your your placement sucks; you're terminated." That's what happens. So, and if you're struggling with that, reach out to somebody that's really good at getting banking information and see what they're saying, and they will help you; they'd be more than happy to help you, and if they're not, let me know, and we'll find somebody that is willing to help you. Um, and then option one drafting is not a great idea. Um, it doesn't, you know, if you take all of the policies that draft upon issue and then all the policies that have a draft date, the persistency—I mean, the placement numbers on those is is is astronomically different. So it's just, again, the stuff that Amy's telling y'all is is to help you guys get paid and help protect your clients, and if you're not doing it that way, you're protecting less people and you're making less money. So that being said, Amy, could you go over it because I I want these guys and girls to understand the difference. You're essentially paying—you are—it is the highest commission for an IUL based off of the paying was 18 months after 12 months, something like that.
Yes, yes. So let me go back over here; let me bring that back up. So this is what you're talking about, Frank.
Yes, yes, because this is super important.
Yeah. So if you're on As Earned, it's going to be—right, we're going to do whatever your Target Premium percentage is on $200 per month until we hit that full $3,600 number in about six months into the second year of the policy. Now, if you're on Advance, we'll Advance you out whatever that is, up to $2,400, because that's what we know we're going to get in the first policy year, and then in policy year two, you're going to get As Earned on month one through month six. So it still pays you out the commission each month for the first six months of the second year of the policy. So year one, you're going to get based—get paid based off of what the client's putting into the policy. Polic—so just like you see kind of here with Mutual of Omaha, $2,400, but year two, because we have what's called a two-year rolling Target Premium, you still get paid on that additional $1,200. That's huge. I don't know of—and and somebody in the chat or Amy, I don't know of anybody else that does this at all. I—anybody, Jesse, have you heard of this? Because I haven't. It was new to me when I came to FNG in 2021, so it just was additional incentive for you guys, right? We know that these particular policies are going to be funded at under Target Premium; 99% of the time it's going to be funded at under Target Premium, so we wanted to make sure we're able to make you guys whole, which is why this product has a two-year rolling Target Premium versus our Path Setter. Our Path Setter designed for them to overfund the policy, right? They're most likely going to be paying more than Target Premium, so it's only a one-year Target Premium case. These ones are designed with that two years in mind because we know clients are going to be funding them with less since they're death benefit focus products.
Gotcha. This is a really good question, Amy: Does FNG app require DocuSign? My client canceled yesterday because he had to sign so many times. And I think you you kind of went over this, but I want Jill to understand completely. Like that's it; we were done; we're done. Y—those two signatures, Frank's done with that application now. If there's any outstanding requirements, let's say you you check mark Yes that there was a signature on the illustration, but there really, really wasn't, then we're going to go back out; we're going to say, "Hey, I need you to go back and get a DocuSign from your client so that we can get this approved." So all of our requirements after the sale—delivery receipt, amendments, revised illustrations, new PAC form, all of those are eligible for DocuSign, so you don't have to have the client give their John Hancock on a piece of paper every single time. We can do the DocuSign; get it handled; get it sent over to us as long as we get the electronic disclosure that comes along with DocuSign. So you can't use—I think Adobe has an option where you can kind of like scribble your signature, and it kind of looks like you signed it. Um, we do need to go through the DocuSign program. That's—I don't see any reason why you would have the illustration signed any other way; it doesn't really sense.
Yeah, so I mean, barring—barring—I don't even—I can't—I can't think of a reason. So that's the easiest way; trust me, because it's it's—it—like that lady—like the lady just said, she is losing applications for too many signatures. Put it all in one place; make it super easy for your clients and yourself because they're not—if you don't have the illustration signed during the time the app, you're going to have to have it signed before you get paid and before the client's covered. So they—again, this is something that that the other companies don't do; utilize it. Let me see if I see any other—you can read through the questions to AMC if you see anything that's that's—
So there's one about if the clients pay annually. So in this particular example I've got on my screen, if your client's paying annually, then you're going to get, obviously, you know, $2,400 in the first year, and then the second year you'll get another lump sum for the additional payments that the client's putting into the policy based on the $1,200 of Target that's left behind, right? So it's still going to be full commissions paid out; it's just a little bit of a different structure because that's going to be As Earned in the second part. So if it's quarterly or semiannually, those types of things, it all depends on how the client pays.
Got it. Um, what is the biggest difference between Everlast and Path Setter? Low says I always use Path Setter.
Path Setter is your cash accumulation product. If your client is coming to you and they see all of those designs that you guys talk about that talk about supplementing retirement later on down the road, bank on yourself, cash accumulation, all of those are going to be Path Setter product because it is designed to grow your client's cash value, get the biggest pool of money later on down the road that your clients can use for whatever 529, alternative plans, retirement plans, all of those different things are great with the Path Setter. Everlast is your death benefit focused sale, providing that Legacy for the Next Generation. So it really is designed to focus on paying out a strong death benefit; also has accelerated benefit writer to the client if they ever need to to use those, but death benefit, Everlast; cash value, Path Setter. So like this Everlast would be a really good mortgage protection product.
Yes, for y'all that do mortgage protection, which if you don't—I don't—it's crazy, but mortgage protection, some—and I used—you know, we weren't with FNG back when I was in the field like that, but if if we—I was—this would be one of my go-to mortgage protection plans for 50–60-year-olds. I think it's a great product, you know, for someone that's not even—even—even a 20-year-old. Again, the living benefits make it strong; there's a lot of different implications you can use this for, but Amy's right, like someone that's looking for a long-term death benefit product, this is this is what you're going to look at.
Miss—I did see a question about how I get these recordings because it does get kind of tiresome getting 75 emails on Thursday afternoon asking me for the recording. If you go to YouTube, let me share my screen real quick. This is the easiest way to do it. Um, let me do this real quick, and and you go to Home. Can y'all see my screen?
Yes.
Yeah. Okay. Go Home, and then you go to Playlists and search SRS Liftoff. You'll get—there's a playlist that's all these—all these videos. You can go here and look at them. I—as soon as we get them cut, edited, uploaded, they go right on here, and I always tell people, "Give it a day or two