Maximize Every Client Conversation With Solutions Others Overlook.

00;00;00;03 - 00;00;26;19
Mark Lyons
Well, we'll get started. My name is Mark Lyons. I'm the director of sales here at SMBs Financial Solutions for the Life Department. And I have my very good friend David Gilkey from a surety here today. David's going to be discussing the topic of maximizing every client conversation with solutions others overlook. Well, that's quite a mouthful for a title.

00;00;26;19 - 00;00;53;28
Mark Lyons
And so we're very anxious to to hear what David has to say here today. I think everybody that's on the call is going to really get a get a lot out of it. We're taking a little bit different approach to this, this webinar. It's just not about basic information, but it's really about trying to find solutions for clients with assurances.

00;00;54;01 - 00;01;30;07
Mark Lyons
Unique product mix. They have a they have a lot of stuff. And I know Dave is not going to talk about all the stuff that they have, but he is going to hit on a little bit of of what they do offer and then get into the meat of the presentation. As a reminder, for those of you that have been on the call before, or for those of you that haven't joined us before, you can ask questions as we go through the presentation.

00;01;30;10 - 00;01;59;24
Mark Lyons
Just be sure to use the Q&A at the at the bottom of the screen. Do not use the chat feature that will not be be monitored and then. But you're free to for free to ask questions at any time during the conversation. And then we'll we'll try to answer them as best as we can. So if you don't know David, he's a regional vice president at a surety.

00;01;59;27 - 00;02;25;28
Mark Lyons
He's been in the industry for for a long time and was an advisor himself originally. He did work for some other carriers and in the interim. But we're very, very lucky to have him. He's he's one of those folks that really does all that he can to, to help our business get through smoothly. And so I encourage you to listen to what he has to say.

00;02;25;28 - 00;02;35;08
Mark Lyons
And and hopefully you'll find a lot of opportunities to, to do business with a surety. So David, welcome.

00;02;35;11 - 00;02;59;16
David Gokie
Thank you. I'm in I'm really excited to be here I, I really enjoyed that introduction. There's not a lot of there's not a lot of groups that I work with that I would consider a friend. And I do consider you a friend Mark. And so I enjoy the I very much enjoy the partnership with SMBs. And I'm sure pretty much everyone on here today would, would, would give that thought the thumbs up as well and agree with that sentiment.

00;02;59;16 - 00;03;32;12
David Gokie
So yeah, Mark, you know, we're obviously covering very unique set of topics today and figuring out how the heck the title this this webinar was probably the one of the most difficult parts of, of of of putting this all together. You know, we're covering topics like disability insurance, foreign resident opportunities, juvenile whole life and and you know, I felt like in kind of going through all those opportunities, one there they are solutions to problems that are often overlooked.

00;03;32;20 - 00;03;59;28
David Gokie
And when looking at all those solutions kind of combined, there really isn't a client that we can't look at helping with with these solutions. So hence how the title slide came to me. So before before I jump into what we're talking about today, a couple of things I wanted to talk about. But first I'll say this. And I most of the time I remember to try and speak to this because I've been in your shoes as, as Mark had said.

00;04;00;02 - 00;04;24;00
David Gokie
But, you know, there's statistics. You know, 50% of what I discuss today will be forgot within the first hour. 70% will be lost tomorrow. And it's like 90 some plus percent will be forgot a week from today. So what I encourage you to do if you are at all like myself, I am an atrocious multi-tasker. I used to think I was good, I am not no longer.

00;04;24;02 - 00;04;48;26
David Gokie
I encourage you to think of a client within your existing block of business, within that potential client list that you've got for even, even yourself, right? Even yourself. So I would encourage you to kind of put that thought process in mind with what we're going through today. So Mark, Mark said, we have we're kind of a Swiss Army knife of products there on the left side of the screen.

00;04;48;29 - 00;05;13;12
David Gokie
We're obviously not going through all of our product suite today with all the different products, because those are product categories. I think we have like 18 different products. And I would encourage you to to make sure that you have us, have us as an arrow in your quiver, because inevitably, there are solutions that we're offering that your clients are looking for, that they may not even know that you offer to them.

00;05;13;12 - 00;05;38;28
David Gokie
So, you know, I encourage you to to give that a look. And again, we'll kind of dive into that just after this. I'm not going to spend much time. I'll spend 30s on why assuredly, I think that first element mutual being a mutual company, we are owned by and accountable to the people we ensure. So by design, we're putting our customers first.

00;05;38;29 - 00;06;13;02
David Gokie
So it's I think that's an important factor. You know, we've been around for over 135 years. And so I very much I very much applaud any and all mutual companies. I think that's a that's an important element of, of this industry. So kind of going into our topics today, why should I sell disability insurance. And so I'm going to I'm going to speak to a lot the why and when when discussing the disability.

00;06;13;02 - 00;06;31;20
David Gokie
And not so much the what because the what know we're going to go through the what briefly the nuts and bolts of our products. But that's exactly why you have the SMBs team. Some of these topics, if you don't broach them often, you know, maybe it's been a year since you've done die. Maybe it's been five years. Maybe you've never done it before.

00;06;31;27 - 00;06;55;05
David Gokie
The client. The need is still there for your clients. And again, that's why you have the SMBs team, right? So. So why should I sell disability insurance? I'm going to ask this question, and I want you to ask yourself this question. And the answer might be varying depending upon where you're at in your career. As as Marc had said, I've only been as a wholesaler for a decade now and prior to that, a financial advisor myself.

00;06;55;05 - 00;07;18;24
David Gokie
But what if your last paycheck was your last paycheck? Now, I'm going to ask that again, because hypotheticals are difficult. But I really want you to think about this. What if your last paycheck was, in fact, the last paycheck you ever made? What is your financial situation look like? Because I know for me, mine would be I would be tough.

00;07;18;26 - 00;07;51;25
David Gokie
I don't have that nest egg to lean on, and most clients don't either. And so we're in that. We're in that world of working with our clients monies and pretty much everything that we speak and work with them on involves that base layer, that income slash disability insurance layer. If if we don't have that income, there is no paying for the life insurance, the the property insurance, the you know, maybe it's the Medicare solutions, whatever it might be.

00;07;51;27 - 00;08;17;17
David Gokie
You know, retirement maybe looks a little bit different. You know, maybe the the home, you know, there's there's a scary statistic when you look at foreclosures on homes in the United States, almost half of all foreclosures, unconventional mortgages in the United States are due to a disability. A lot of people think they think death. And don't get me wrong, we're going to talk about life insurance here in a moment.

00;08;17;17 - 00;08;40;18
David Gokie
But I'm a huge advocate for disability insurance. One of the things that I often mentioned, I've only been in a surety for the last five years. The very first insurance product I ever sold wasn't a surety disability product. I very, very much encourage you to have that conversation. It is something that is often not spoken about enough. And again, I'm hitting on the why behind disability insurance.

00;08;40;20 - 00;09;03;04
David Gokie
You know, in this game of life, death comes for us all. Inevitably we are all going to die. That being said, at at those younger ages, we are much more likely to get disabled than to pass away. I've shared with Mark. Mark knows my story well. I won't go into too many of the details, but I've been on a disability claim.

00;09;03;06 - 00;09;26;04
David Gokie
When going on a disability claim, there's a reason you're on it. You want to concentrate on trying to get better, right? Mine was. Mine was mine was due to a cancer, and I was out of work for multiple months. Having that income come in for me was huge because it allowed me to concentrate on what was more important, which was getting better, and being there for my family as best I could.

00;09;26;07 - 00;09;35;03
Mark Lyons
And might be a unique webinar in the fact that we were batting 100% of people that have been out on a die claim to it.

00;09;35;05 - 00;09;50;19
David Gokie
There you go, Mark. There you go. Now, here's here's another interesting kind of take. And this is kind of one of my last slides on the why. And there's a lot you know, my background as as Mark said was as a financial advisor. But prior to that I was a finance major. I love numbers, I know a lot of people don't.

00;09;50;20 - 00;10;14;00
David Gokie
So bear with me on this slide. So I love this for a few reasons, because if you're not bringing this up to your clients, I would very much encourage you to to do it. So if we look at a client, you can see you can see age is on the y axis, incomes on the x axis there. And this assumes you're going to get a 5% raise every single year, which maybe is a poor assumption.

00;10;14;06 - 00;10;38;09
David Gokie
Maybe you make more, maybe you make less. But if I focus in on, let's say, a 30 year old making $75,000, that's going to retire at age 65, does that 30 year old know that they're going to make $6.7 million over their lifetime? Do they know that? Do you know that when you're working with that 30 year old, you know, when you go to that 30 year old and you say, hey, what what is your biggest asset?

00;10;38;10 - 00;11;06;06
David Gokie
What is what is something that we want to protect? Obviously, it's their life. We talk about life insurance, implement life insurance solutions there. But potentially more important is is there income, you know, disability insurance is it really probably should be called income protection or paycheck insurance. Many a names we don't call life insurance death insurance. So it is a good reminder that we need to be protecting that income.

00;11;06;06 - 00;11;30;13
David Gokie
And you know, even even if we're looking at, let's say, a 55 year old that's making 75 grand, that's still almost $1 million that they're going to be making over the next ten years before they retire. Is that worthy of protecting? I would say probably yes. So I think looking at this analysis, even this isn't even a detailed financial report by any means.

00;11;30;13 - 00;11;57;06
David Gokie
But this is just simple math. Looking at this and saying, look, there's 6.7 million or or 2 million or 1 million or whatever that number is, it's probably worth protecting. Let's have a conversation around that. So I'm a big advocate of that. Yep, yep. So what do we have for those solutions? Well, I wholeheartedly believe and I think it's a pretty objective statement, that addition.

00;11;57;11 - 00;12;14;05
David Gokie
We have the most comprehensive suite of individual die products in the marketplace. Now, again, as I had mentioned earlier, this is not a college, you know, senior year for 40, disability for 40. This is the 101. As far as the nuts and bolts of the products I'm going to go through, and I'm going to go through them quickly.

00;12;14;05 - 00;12;37;07
David Gokie
Again, lean on the small team. But I wanted to give you some of the details. Now before I dive into that, I will say there's underwriting with disability insurance and underwriting is, yes, both for your health. But we also look at your occupation. The riskier the occupation, the higher the premium is going to be. Conversely, the safer the occupation.

00;12;37;07 - 00;12;56;09
David Gokie
Mark and I don't have a lot of risks in what we do. We could we could do our job with a broken leg. You know, it's going to be less expensive. So, you know, do keep that in mind. So let's start with this. Our short term die. You'll notice on the top right accident or sickness off the job on the job doesn't matter.

00;12;56;13 - 00;13;20;02
David Gokie
You get disabled due to an accident or a sickness. Short term die. It's shorter benefit periods, shorter elimination periods. For those of you who leverage the small team for long term care elimination, is that a waiting period? So think of a zero day elimination period. I wait zero days. I get paid out on a weekly basis for three months, for six months, 26 weeks.

00;13;20;02 - 00;13;43;10
David Gokie
For those of you who are bad at math, one year or two year and then it stops. Now, if we need a longer benefit period than that, we can always do that. We can utilize our long term care, long term die product, and I'll reference that here in just a second. Now on the short term die we also have accident only meaning this is only going to pay out in the event of an accident.

00;13;43;12 - 00;14;08;14
David Gokie
Why would I ever want this product? There's very little, very little underwriting and the premiums are significantly less. Now, I did mean to mention both the accident only and sickness and accident product. This is not a maternity product. This is I'll say that again. This is when it comes to a short term die. It is not a maternity solution.

00;14;08;14 - 00;14;24;10
David Gokie
So we don't we don't have that as a solution. Think you know my story. When I got to Sable due to my cancer, my short term die was able to pay out on a weekly basis. And it was so, so very helpful. So that's that's our short term die product. I'm going to go into a little bit of a niche product here.

00;14;24;10 - 00;14;49;19
David Gokie
And then I will I'm not going to go through all of our die products, but then I'll land on our flagship product. So this is a graded benefit die product. Think for those clients who for unhealthy. So you have a client who is a type one diabetic. If you go to the insurance industry right now and say, hey, I have a I have a physician and this is a buddy of mine, actually, I'm thinking of a physician that's a type one diabetic.

00;14;49;22 - 00;15;12;19
David Gokie
Where can I get coverage? You're going to be hard pressed to find anyone to have a solution for that, for that physician outside of a surety and maybe Lloyd's of London. And so, you know, if you have a client who's got cancer, if you have a client who's had a heart attack, if you have a client who has had any of these items on the screen, now, if you start stacking these, we're going to still be have that potential for a decline.

00;15;12;22 - 00;15;35;16
David Gokie
But the ability to potentially offer coverage where others can't is something that we really pride ourselves on. Our die underwriters, one of one of the best actually came from the Mutual of Omaha family. And so we he's now he's a great underwriter. We love our die underwriters. And so they'll they'll work with you and massage cases to to work on getting an offer where we can.

00;15;35;23 - 00;15;55;18
David Gokie
So I love that. Now here's, here's the final product that I was going to speak about. And I'll dive into this a little bit more nuts bolts. And we'll move on to another topic here in a second. But this is our new long term die product. This is an amazing product, I love it. There's a lot to be spoken about.

00;15;55;23 - 00;16;18;23
David Gokie
Again, the SMS team can dive into more and more about it, but there's a reason why our die sales are on track to about double this year, and this is one of the main reasons why you can see all the nuts and bolts. I'm not one to read off my slide, so hopefully you're looking at the screen here, but one of the things that we introduced with this, just this long term die product is we introduced that five A and six occupation class.

00;16;18;24 - 00;16;39;04
David Gokie
As I had mentioned, we underwrite for health but also occupation A6A is going to be one of the cheaper premiums that one a more expensive right. That roofer is going to be a little bit more expensive than that accountant or that architect. Additionally, we took the opportunity skip the slide. We took the opportunity to improve upon our occupation classes.

00;16;39;04 - 00;17;06;28
David Gokie
And so, you know that health care section nurses, we've seen our nurse, with the introduction of this product and our reorganization of our occupation classes, if you looked at die with Us in the past, we might be in some cells, 5% cheaper, 10% cheaper for that nurse. We're maybe 30% cheaper, more affordable coverage for that client that is in need of a robust die solution that we can offer for them.

00;17;07;00 - 00;17;29;28
David Gokie
I know there's oftentimes for those of you who are novices in the world. Well, there's complication. Do I want that true knock? Do I want that owner and not working. We have all those that you need. And again, as I've said for the fifth time now, the SMS team is fantastic. And should something very, very complex, that's when they get us involved and we're more than willing to help out one of our best partners in SMS.

00;17;30;00 - 00;17;51;19
David Gokie
I'll kind of finish with this, this, this element and then skip on to to our, our kind of our kind of last element here. But you know, we we used to only cover through age 60. We are realizing clients are working longer than maybe they're working multiple jobs. So we're offering two age 70 benefit periods. We're covering through age 64.

00;17;51;20 - 00;18;14;16
David Gokie
We'll underwrite that client who is working at Starbucks for 15 hours and an Uber driver for 20 hours. We're offering a lot of flexibility with this product that wasn't previously there, and then an abundance of writers. You can see it's running off the screen there, then mount of writers. We can really customize this. So again, please leverage the SMS team.

00;18;14;16 - 00;18;41;02
David Gokie
But I will also say this if you're curious about more die insights info for every single, almost maybe every single product, at least for the short term and long term die, we have a seller's guide. Hey definitions to know, insights and statistics to know, some some occupation playbooks. Whether it's an accountant architect we've got like I want to say maybe 9 to 12 different occupation playbooks.

00;18;41;02 - 00;18;59;22
David Gokie
Hey, look, if you work with a lot of accountants or a lot of nurses, these are the typical incomes that we see. These are the writers that we see being selected the most. You know, more and more details. So please leverage that site. The last thought, which is a good transition. And Mark, please interject if you have any questions yourself as of right now.

00;18;59;22 - 00;19;23;07
David Gokie
But the last thought as I transition to another topic is with the introduction of this new long term die product. We are now willing to accept certain visas just with the long term die product. Now, if it's not on the screen, we won't, we won't ensure it. But if it is on the screen, which many of the top visas are.

00;19;23;11 - 00;19;30;22
David Gokie
I would encourage you to again have that conversation. We'd love to love to look at ensuring those clients.

00;19;30;23 - 00;20;25;19
Mark Lyons
So so let me let me just just recap this first conversation. You know, number one, a surety is a mutual company. And I'm a firm believer in mutual companies because they they really do have to look out for the policyholders and, and not necessarily the shareholders. You really have a full product portfolio, lots of different stuff. We're emphasizing the Di here and and focusing on that, this concept of, you know what, if your paycheck was the last paycheck that you were ever going to receive, you know, and you highlighted the, the, the idea that, you know, most foreclosures, particularly of younger people, are due to or are due to some, some sort of disability,

00;20;25;19 - 00;21;12;23
Mark Lyons
whether it's accident or sickness, you know, and then you're, you're really focusing on this idea of paycheck insurance protection, which I thought was was very good. And of course, you know anybody that's does anybody any kind of planning realizes that, you know, disability income insurance is really one of the most important pieces of of a complete plan, full, full comprehensive Di product portfolio, specialty product which is graded benefit, which is an impaired risk type, Di product, in addition to the short term Di and the business overhead expense and the new long term disability plan.

00;21;12;26 - 00;21;41;14
Mark Lyons
Not a maternity solution, but that long term Di plan has not only improved the occupation classes, particularly for office jobs and health care workers, but expanded the the type of visas that would qualify. Yep. And all this information is in one place at a surety com Selma di.

00;21;41;16 - 00;22;09;21
David Gokie
Yep. Exactly that. That's a great recap. You were paying attention I appreciate it. No, you actually you made me. I know not everyone on here cares is is a financial advisor, but oftentimes I get some pushback from from those those producers that are and again, I was myself and I always remind those those producers di can often refer, you know, help protect your assets under management.

00;22;09;25 - 00;22;35;04
David Gokie
And because what happens what happens when your clients get disabled, they start accessing their retirement accounts because they don't have the necessary insurance in place. So I always kind of like to add that little twist on to, to, you know, the it was a good reminder. So yeah. So it's a nice transition. Like we're a little bit limited in our di di offering obviously just only offering the visas.

00;22;35;04 - 00;23;00;15
David Gokie
But one of the things that were significantly growing in is our foreign resident program. And look, we know in the United States this is a huge opportunity. The previous carrier that I was with, you know, and a lot of other carriers will focus in on those really high net worth clients, maybe those clients that are quite literally living in in another country.

00;23;00;21 - 00;23;23;20
David Gokie
That is not what a surety is focusing on. That is, you know, our statement, our mission statement is helping people through difficult times. You know, that that client that's worth $10 million not having life insurance. Yeah, maybe they incur a small, difficult time, but we're really looking at those clients. If they do not have life insurance, their life gets turned upside down, right?

00;23;23;22 - 00;23;46;23
David Gokie
14% of the US population was not born in the United States, 14%. And so obviously that includes green cards. Green cards. Absolutely. No problem. We're good to go there. But it doesn't include those clients that, you know, maybe you're on a visa, maybe only have an IT in individual tax ID number. Maybe they only have a Social Security number.

00;23;46;25 - 00;24;11;12
David Gokie
But that market is severely underserved. Those clients still have the same needs that Mark and I and everyone down my block has here and Omaha, Nebraska. And so who is eligible with our program? What we need you living inside the United States, first and foremost, we're not looking at looking at those clients living elsewhere. We need you living in the US.

00;24;11;12 - 00;24;28;20
David Gokie
So ours is essentially broken into three categories. As you can see on the screen, I'm not going to spend too much on the first Canadian citizens. You know, believe it or not, there are a lot of carriers that will not cover Canadian citizens. So if that is, you know, if you if you have those clients, you know that we're good to go there with a few elements.

00;24;28;22 - 00;24;56;08
David Gokie
Clients with a valid visa. We are looking for clients, whether it be in the visa or that third category that are are looking to stay here. So if you are that that client that has a short term visa that is intent, you know, maybe it's obviously visas are have an expiration. But if that visa is very clearly going to make you go back to wherever your home country is, right, we're going to have some trepidation in ensuring that client.

00;24;56;11 - 00;25;16;02
David Gokie
But that third category is where we're seeing tremendous success. When we introduced this program about a year and a half ago, we actually required the client to live in the US. For five years. The business has been good, the persistency has been good. We've been loving this business. We actually drove it all the way down to just one year.

00;25;16;02 - 00;25;34;22
David Gokie
So if you have a client who is not a US citizen, they do not have a visa, they do not have a green card, but they're here and they have an individual tax ID number or a Social Security number. We're willing to insure those clients. We want those clients. We have. Again, we've had some really good business with those clients.

00;25;34;22 - 00;25;55;16
David Gokie
So now who isn't eligible if you've got some kind of essentially celebrity status for one reason or another, and you can again see that political reasons, public figures, journalists, again, we're going to have some concerns there. We're not going to insure those types of clients. But as far as our products and what we're willing to, it's essentially our life product suite.

00;25;55;16 - 00;26;16;06
David Gokie
So our term life, our whole life or single premium whole life, our universal life and our accident insurance now accident, that's not life insurance, but we are seeing tremendous success there. It's kind of that health product that Aflac s type product. So great opportunities to be had there. Whether we do cut it off at age 70, we do include juveniles.

00;26;16;06 - 00;26;40;24
David Gokie
We're about to talk about that juvenile opportunity here in just a moment. And we do limit some some writers. But being able to offer that prefer to that preferred plus on that client that only has an i10 or we're actually seeing a lot of preferred ratings because we do see those clients. You know, a lot of these clients are not aware of the fact that they have a solution out there.

00;26;40;25 - 00;26;44;16
David Gokie
Now, the process, the process is yeah.

00;26;44;20 - 00;26;49;29
Mark Lyons
If I could ask you just to back up one more slide.

00;26;50;02 - 00;26;51;16
David Gokie
This one, who is eligible?

00;26;51;16 - 00;26;54;03
Mark Lyons
Yes. Canadian citizens.

00;26;54;04 - 00;26;54;23
David Gokie
Yes.

00;26;54;24 - 00;27;17;08
Mark Lyons
In the US on a passport or you own property, non-U.S. citizens with a valid visa living or one or more consecutive years in the country. And then you have stable employment with one of those visas. And that's a lot of visas. Yep. And then a non-U.S. citizen with a green card or a visa, again, living in the US for one year or more.

00;27;17;08 - 00;27;29;02
Mark Lyons
And then you have a either a social security number or an I10 number or have a valid form of government issued ID, you know, that's that encompasses a lot of folks.

00;27;29;04 - 00;27;30;01
David Gokie
Okay. It does.

00;27;30;02 - 00;27;32;07
Mark Lyons
I just wanted to hit on that one more time.

00;27;32;08 - 00;27;38;21
David Gokie
Yep, yep. And that this this slide is the the meat and potatoes of this this this topic. So it's it's great.

00;27;38;24 - 00;27;45;19
Mark Lyons
Because I would guess that everybody on this call know somebody that gets in one of these categories.

00;27;45;20 - 00;28;11;04
David Gokie
Well and I would also say this you're spot on with that. Now if you're trying to really, you know, become a center of influence in this and capitalize on this opportunity, you have to have just that, a center of influence that or, or really be involved in that community. You have to have the trust of that community because there is, you know, there is, you know, maybe a reason for not, you know, trusting everyone and that community.

00;28;11;04 - 00;28;32;11
David Gokie
So I would, you know, if you if you have no ties to that community, whatever community that is, you know, whether, you know, we've seen a lot from South America, Central America, we've seen we've seen a lot of Europeans. We've seen a lot of Indians, some Chinese, you know, really, no matter where you're from, you have to have that that involvement in that community for them to trust, to want to work with you.

00;28;32;13 - 00;28;52;26
David Gokie
And it's tough to get into that if you're not already in that. So I would I would offer that, that advice for those of you who are in that those communities, this is such a wonderful opportunity because again, we are here to help, you know, at least the reason I got into this business and probably much like many of you here on the call, I got into this business to help clients.

00;28;53;03 - 00;29;13;13
David Gokie
Yes, I am also here to make money and that's, you know, but I can do both, right? I can help my clients and make money at the same time. And what what, you know, in what better way to to help those underserved marketplaces like the foreign residents space. So. Yep. So how it works. Again, I would lean on the team to to to speak to that.

00;29;13;13 - 00;29;33;18
David Gokie
I wanted to give you a couple tips. So here's a sales idea. I'm almost again, please read off. Read it. This is making use of our our essentially famous for Turner premium writer. Would that we allow for this but small business owners and new home purchasers you know much like us citizens they need life insurance coverage. You start a business, all right.

00;29;33;20 - 00;29;58;03
David Gokie
You maybe have loans on that. With that business, you buy a home and most people are having loans on, you know, and so they need that life insurance coverage. They want to be able to keep their family in those homes. These clients are often unaware of the opportunity to create the peace of mind that, you know, I have, you know, in that sense of having my life insurance coverage for the the mortgage that I have on my on my home.

00;29;58;06 - 00;30;21;07
David Gokie
You know, this is you can see on this on this example, you know, she's she's an accountant and I love partner with accountants. We are seeing our agents partner with accountants because the accounts are the ones filing the taxes and seeing the I-10 and only the SSN. They see that they're not US citizens. You know, these are the client, you know, leverage those relationships, build those partnerships, build those centers of influences.

00;30;21;10 - 00;30;43;27
David Gokie
You know, those clients still need the protection that we still need today as well. Now, one of the most asked questions I get with this okay, that's that's great. But I need I need these materials and and and the native languages okay. We have it in Spanish Chinese Korean Vietnamese. Now the app itself is still in English. That's for regulatory reasons.

00;30;43;27 - 00;31;04;16
David Gokie
But we have supporting materials that is in language. So make use of that. Our agent site our agent portal. Again SM's team can point you to that. But there's a lot you can access without even having having to be logged in. So I'm going to reference a website here in just a second, but it talks about the program requirements in more details.

00;31;04;16 - 00;31;22;22
David Gokie
It talks about our foreign national questionnaire. Just a quick questionnaire that the client fills out with in in accompaniment with the with the application checklist with the app. This is approved in all states that we have our products available in our life products. Except for New York. We don't have a product in New York, so we're good to go there.

00;31;22;24 - 00;31;48;10
David Gokie
And this is that site that I was referencing. So please make use of this again. You are either in this space or you're not, but I almost guarantee you at least have one client that is working and trusting with you. But you can make the, you know, you could leverage this, this solution for them. So with that, I'm going to transition to my next my my last kind of detailed solution.

00;31;48;10 - 00;31;51;25
David Gokie
But Mark I'll throw it back to you. Any any thoughts so far.

00;31;51;25 - 00;32;39;28
Mark Lyons
Questions I mean this is kind of one of those areas that I, I truly think that, you know, both SMS and a surety, you know, there's a huge opportunity there. And, and, you know, we're, we're starting to take advantage of it and, and I and I'd like to, to dive into it more, you know the with the materials in the languages, you know, I understand why sometimes the, the, you know, the application is, is in English, you know, for the regulatory reasons and the legal reasons, but just the fact that you can have those marketing pieces in those specific languages, that makes a lot of difference.

00;32;39;29 - 00;32;50;15
Mark Lyons
I mean, it's it's just it's huge. And, you know, and not everybody has that, particularly if they're offering the types of products that, you know, assured he's offering.

00;32;50;21 - 00;33;18;22
David Gokie
Yep, yep. Well we obviously talked about the the D space talked about the foreign resident solutions. So again let's let's move on to kind of another unique solution. Why life insurance coverage on juveniles. You know as as I had said a couple times now when I started in this in this space, you know, it's as a financial advisor, I used to actually very much not like juvenile life solutions.

00;33;18;27 - 00;33;45;26
David Gokie
I don't know why. I don't know where that stemmed from. I think it stemmed from just seeing other agents push it, and me not necessarily fully understanding the importance of it. I had a another kind of personal story two weeks ago, a little over two weeks ago, I was attending the funeral of my cousin's 15 year old. And it was it was obviously very difficult.

00;33;45;29 - 00;34;25;24
David Gokie
You know, he type one diabetic didn't wake up the next morning. He was it was in a small, small community here in Nebraska. And he was, you know, he was a kid that really just put a smile on people's faces. 15 and, you know, it was a beautiful funeral. And my cousin had life insurance on his son. But I think, you know, more importantly, much like die, it allowed allowed him and, you know, the whole family to really focus in on, on, on Charlie because he was he was a truly special kid.

00;34;25;24 - 00;34;52;16
David Gokie
And, you know, to have the ability to invite so many people and provide food and encourage anyone and everyone to, in the community, come. So, I mean, I don't necessarily want to make that this, this about him, but there are countless stories like that where the last thing you want to be able to to bury your kids the right way and to focus in on who they are and not have to worry about the finances, the financial problems that come with it.

00;34;52;17 - 00;35;13;03
David Gokie
So that's that's one element to this. And I wanted to kind of start with kind of fresh in my mind. So, so why juvenile life? Well, again, raise my hand on the first bullet points. You lose your ability. You know, there's, you know, life insurance is it's not like there's another investment out there. You can go and, you know, there's plenty of.

00;35;13;05 - 00;35;36;10
David Gokie
Well, I can invest in this and this. You, you you lose that. You know, that capability of buying insurance, that life insurance. And it's there simply just no other alternative. And so the locking in of coverage on your child, you know, I mean, could ultimately give him peace of mind for the for the day that rolls around in the future when they have kids and are worried about protecting them.

00;35;36;10 - 00;35;40;02
David Gokie
So, you know, I encourage at least having a conversation around that.

00;35;40;05 - 00;36;05;29
Mark Lyons
You know, and I would I would make one point on that to, you know, I think a lot of people would say, well, you know, you don't need to lock them in when, when they're juveniles, when they're in their 20s, you know, the likelihood of them still being insurable is very high. And they can get life insurance then.

00;36;06;02 - 00;36;36;15
Mark Lyons
But I guess what I've seen is the problem that most young adults in their 20s don't go get life insurance, and they're really hard to convince that they need life insurance until maybe they start having a, you know, they get married and start having a family, and then they realize that they need it. And by that point they're beyond or they're getting into a riskier time for for becoming uninsurable.

00;36;36;15 - 00;36;52;20
Mark Lyons
So you're just heading off a potential problem by purchasing life insurance on children, because they're not going to necessarily be responsible enough to do it on their own when they become young adults. I mean, that's that's just the fact of the matter.

00;36;52;21 - 00;37;25;00
David Gokie
Yeah. No, it's a it's it's an excellent point. Yeah. And so, you know, potential loss of insurance costs of waiting. Right. We all know this year you purchase life insurance, the less it costs, you know, so that that you know, that that small element of urgency, it's you know, it's not imperative. But again, I used to, you know, when I speak with my clients and even if it's, you know, this isn't even juvenile life, but even if you are working with those 20 year olds, you know, if they if if they're not married, if they don't have any kids, if they don't have the house, you know, they've got a positive net worth, they

00;37;25;00 - 00;37;45;14
David Gokie
have enough to bury themselves. It's still worth mentioning that conversation. You know, maybe someday they will have kids. What if they lose that insure ability? And so even if it's not necessarily even juveniles, we're speaking to you that that loss of ability is again, having lost mine in my in my mid to late 20s, I approach that conversation a little bit differently now, if you will.

00;37;45;16 - 00;38;20;01
David Gokie
So cost of waiting. So peace of mind. It's it's as I mentioned you encounter someone who's who's lost lost a child. It's a difficult conversation. Not having to worry about the financial impact of that I think is, is can bring just so much, so much better concentration on what's really important. Show that you care. I think that if you approach this the right way, it really can be seen as a way of showing that you truly care versus, hey, this guy is trying to sell me something.

00;38;20;02 - 00;38;37;04
David Gokie
Show them that you care. A lot of times this idea hasn't even necessarily, you know, cross their mind. Obviously, you know, they become stickier clients the more the more that you do with them. You know, in this last bullet point is obviously a joke. Kids need more toys. I've got an 11, a nine and a seven year old.

00;38;37;04 - 00;39;00;10
David Gokie
I do not need any more toys, whether that be from my my brothers, sisters, parents, in-laws, whoever it might be in any of us with kids around that age knows that whole full well as well. So so so keep that in mind to so we introduced last year a new a new life, a couple new life products. Our whole life Protect plus and our whole life Perform plus.

00;39;00;10 - 00;39;33;27
David Gokie
And so the Protect Plus focuses on inexpensive premiums with a large death benefit. Perform plus leverages cash value growth while still obviously having that death benefit protection. Now the beauty with this product is we have living benefits both terminal obviously chronic obviously, but also critical illness built into this product. And those critical illnesses that are built in that we can leverage should something happen, is very, very robust in the number that we have.

00;39;33;28 - 00;39;51;06
David Gokie
And in fact, and I share this with Mark not too long ago, but, you know, it was kind of a nice surprise when Investopedia dubbed us the best living benefits story in the whole life space. So you know something we assume that you had to pay for. So it was it was nice to be recognized in that regard.

00;39;51;09 - 00;40;15;22
David Gokie
Now, you know, one of the things that Mark mentioned, you know, a lot of clients don't leverage life insurance and their and their 20s, you know, they forget or push it off, you know, other things get in the way. And then all of a sudden, all right, we lose our insurer ability. One of my favorite writers is leveraging our guaranteed insurable writer the ability to buy buying the ability to buy more life life insurance coverage.

00;40;15;22 - 00;40;34;27
David Gokie
As you get older, it's huge. You're not really paying. It's such an inexpensive premium, locking in the, you know, the ability to buy more and more in the future. Obviously, if we're buying it on ourselves, we can always do a children's term writer. You're not buying a children's term writer on a juvenile policy that last the last pilot and these highlights or bold are very, very faint.

00;40;34;27 - 00;40;53;23
David Gokie
But the pair benefit writer. All of us are aware of a waiver of premium. You know, if I'm buying a policy on myself, if I can't do my job, if I get disabled, I don't have to wait. I don't have to pay premiums anymore. The Pay Your benefit writer does the same thing, but for the payer, because obviously a five year old is not paying for their own policy.

00;40;53;23 - 00;41;20;26
David Gokie
So I very much encourage utilizing that pay or benefit writer, because should that pay your die or get disabled, we're going to waive the premiums for that juvenile policy. So it's a good a good writer to consider and a writer that not a lot of other carriers have. So this is the nuts and bolts of the product, you know, and these two products, you know, whether it's leveraging for death benefit or cash value, can be utilized outside of the juvenile life story as well.

00;41;20;26 - 00;41;50;15
David Gokie
But I wanted to speak to why why us with this solution which is underwriting when it comes to our juvenile life solution for these two products, it is a different app, and the app only has three health questions. And we are also, unless you're answering negatively to those three health questions, we're not pulling MIB. We're obviously not pulling in VR because our clients aren't driving.

00;41;50;20 - 00;42;11;03
David Gokie
Well, maybe if you're working with a 1514. I was driving a 14, I think a lot, maybe a lot of us were 14, 15, 16, whatever it might be. Those are still juveniles. We're not doing script checks unless you're answering adversely to some one of these questions, which in turn means about 91% of the time we're seeing an auto approval on our g e apps.

00;42;11;06 - 00;42;37;17
David Gokie
It's a very quick process. Now I will, you know, speaking to I know I'm throwing up random numbers here on the screen. I, I tend to like to do this. Please. Anyways, bear with me. But 100 years. So now why do I say that so in 2025? Believe it or not. So I had a lunch with my head of claims here in January and I think, Mark, I think I told you this story potentially.

00;42;37;17 - 00;43;05;25
David Gokie
But in 2025 we pay it out a death, a policy. We painted a death claim on a policy that was issued in 1940. Think about that. That was 85 years ago. It was the amid the height of World War two, obviously pre-internet pre atomic bomb. Somehow I love the story for a myriad of reasons. Somehow the client kept this policy going.

00;43;05;28 - 00;43;30;14
David Gokie
We kept this policy going 85 years of paying, you know, of painless premiums. And we were there to to pay that death claim. Juvenile life policy is something that we do a tremendous with. Undoubtedly, we have a policy today that we're going to have to pay the death claim out in 100 years. You know, Mark mentioned the importance of being working with mutual companies.

00;43;30;16 - 00;43;49;00
David Gokie
Going back to that, it is such an important fact that we put our policyholders first. We might have some off years and we're okay with stomach those off years. As far as you know, you know our ROI internally, our you know, our bottom line. You know, if we only grow at 3% instead of seven, we're okay with that.

00;43;49;00 - 00;44;13;19
David Gokie
Now in the long run, we need to have continued growth. And we're always looking at that hindsight or into the future. But balancing the now with the future is something that mutual companies do. Is so much better job of than, than than our some of our stock competitors. So the idea of us paying a policy in 2126, this seems like a made up year in a way, doesn't it?

00;44;13;26 - 00;44;15;23
David Gokie
So it does.

00;44;15;24 - 00;44;16;12
Mark Lyons
It does.

00;44;16;13 - 00;44;35;08
David Gokie
Yeah. Yeah. So I like to put that into perspective. So I'm going to finish out with a few juvenile life designs I believe, and then open it up to questions so I can bear with me for another five ish minutes. But I wanted to show the the affordability. So Donna and Dylan, I screenshot this from one of our marketing pieces.

00;44;35;09 - 00;45;00;19
David Gokie
Donna and Dale wanted to put a policy on their three grandkids. That's $415 a year covering all three grandkids. And I know these numbers are small, but with a guaranteed insure ability. Rider $415 a year. That's so insignificant, inexpensive. So let's say they said, you know what? We want something a little bit more bold or strong. Now I'll go back to go.

00;45;00;20 - 00;45;25;21
David Gokie
Go before going back to this. As long as we're under that $100,000 threshold, Donna and Dale do not have to involve their kids in this. Their kids do not have to sign if they're buying it on their grandkids. So grandparents can sign completely without involving the kids and doing a policy on their grandkids. As long as we're at $100,000 or less, which is something that we introduced with this product that we're really excited about.

00;45;25;21 - 00;45;48;05
David Gokie
Now, once we go over that 100,000, we're going to have to involve mom, you know, the mom and dad in this, but any amount under 300,000, we're still not asking Mom and dad how much life insurance that they have. So on this policy, all we do need mom and dad signature, but $733 a year to cover to put in $250,000 death benefit.

00;45;48;08 - 00;45;56;24
David Gokie
Again, you are leveraging so much money. There's so much, you know, there's so much money being leveraged here to create $250,000 of death benefit.

00;45;56;26 - 00;46;00;27
Mark Lyons
That's incredibly strong.

00;46;01;00 - 00;46;26;00
Mark Lyons
You know, and I'm glad you brought up the the idea of of grandparents taking it on on grandchildren. I think I always thought that was a great idea. I mean, grandparents like to do that sort of thing, and we've seen it a lot over the years. This, this policy that you had on the slide before and that one go back to slide.

00;46;26;02 - 00;46;26;16
David Gokie
Okay.

00;46;26;23 - 00;46;33;09
Mark Lyons
And so and that would, that would be a policy that would be eligible for the payor benefit writer.

00;46;33;12 - 00;46;48;19
David Gokie
So great question. So that that one would not be when we have grandparents, the payer benefit rider. If once we eclipse a certain age, that payer benefit writer is something that we would not be able to make use of. So it's it's really got to be the parents that are paying when we're making use of that payer benefit writer.

00;46;48;19 - 00;47;16;26
David Gokie
So that's a that's a great question. All right. Yep. Yep. So I'm going to I'm going to skip ahead a couple of slides for time I, I love this story. So so speaking with that grandparents idea, you know, baby boomers own 52% of the country's net worth. That's $85 trillion. Obviously, opportunities are created from that. Please leverage that as best you can in other solutions.

00;47;16;26 - 00;47;45;14
David Gokie
But one of those is having a conversation about protecting their family. You know, when family is typically the biggest. Why when working with our clients. And I think I've shared the statistic with you, Mark, but I'll ask it again, even though I know I've asked you in the past because I'm curious if maybe it's changed, but there's a scary statistic, and it's that a majority of Americans cannot even name half of their great grandparents first names.

00;47;45;20 - 00;48;00;02
David Gokie
Every single one of us have eight great grandparents. So I'm curious, Mark, if this has changed, can you name just the first name of four or more of your great grandparents?

00;48;00;05 - 00;48;02;07
Mark Lyons


00;48;02;10 - 00;48;03;11
David Gokie
And while you're.

00;48;03;11 - 00;48;05;13
Mark Lyons
Thinking I can name for.

00;48;05;14 - 00;48;22;15
David Gokie
Okay, you can name for so I now that I've read this, it's changed. But initially when I was asked for the first time, I could only name three two of them for good reasons, one of them for the wrong reasons. Not a great person necessarily. Of course I remember that one. But you know, I'll couple that with this thought of.

00;48;22;19 - 00;48;44;12
David Gokie
It's said that you die twice, you die when you die, and the second time you dies when your name is said for the very last time. And so for a majority of us, our name will be said for the very last time when our grandkids pass away. And that is that's something kind of difficult to kind of wrap your head around a little bit.

00;48;44;12 - 00;49;05;13
David Gokie
And so one way of maybe getting around that a little bit and kind of tugging at some heartstrings is what if what if you bought a life insurance policy on your grandkid and when they pass away and they pass that on to their grandkids? I almost guarantee you your name will not be forgotten for multiple generations or your names.

00;49;05;13 - 00;49;28;17
David Gokie
If you will write Grandma and grandpa or whatever you go by or they go by. And so here's here's kind of one kind of last thought I had mentioned single premium whole life. I believe a couple of times we can leverage our single premium whole life solution as well. Now, for those of you who know the tax world quite well, there's a reason I have a $19,000 number up there that gift tax exclusion.

00;49;28;25 - 00;49;48;24
David Gokie
Anyone can give anyone 19 grand for any reason without having any sort of tax implication. $19,000 on a five year old is going to buy $250,000 of death benefit plus cash value if we need access to. Now. One of the things I had mentioned earlier, cost of waiting. Go back a slide again. 19,000 buys 250 on a five year old.

00;49;48;24 - 00;50;12;28
David Gokie
If we bought it on a one year old, it's $290,000. Don't wait. Move on it now. Right now, I understand not a lot of clients have $19,000 for their their their juveniles. Maybe it's a ten pay. Maybe it's a 20 pay, maybe it's paid age 65. Maybe it's paid 100. We have that flexibility. So very much encourage you to look at that.

00;50;13;00 - 00;50;32;12
David Gokie
We also have the I'm going to skip by these. We have accumulation capabilities leveraging that cash value growth. Use it for college use it for retirement whatever you want. Another solution that we see because again I'm wrapping up because I'm way over time. Apologies. Use the children's term writer on our term policy. There's nothing preventing you from doing that.

00;50;32;13 - 00;50;53;27
David Gokie
The beauty of it I know I'm going quick is we can throw a guarantee, you know, with it is essentially kind of a guaranteed insurable writer. If you put a children's term writer, we can convert that to a permanent policy. I know this is why am I showing this slide? Because I'm showing you how affordable this is. $10 a month for all of your kids and future kids to be born.

00;50;53;29 - 00;51;14;03
David Gokie
Plus their ability have the ability to when they to convert this to a permanent policy for themselves, up to five times the amount that we started with. So I know this is just a screenshot from a term policy with critical illness and return or premium writers that ten bucks a month regardless of your health. I love that idea.

00;51;14;03 - 00;51;37;24
David Gokie
So I'm going to wrap it up here. Well, you know, what we do matters. Too often. We you know, we talk about insurance every single day. I know my wife, my wife's talks about how boring this life insurance and insurance must be, but it didn't matter, you know, and when those unfortunate things happen, that's it's not so boring anymore when you deliver those checks.

00;51;37;26 - 00;52;00;07
David Gokie
I can't emphasize that enough. Don't become numb to it. The my a story that I talk about often is my daughter has been saving up and saving up money. This is a few years ago and she ended up buying a skirt. Why am I wrapping up in this way? She ended up buying this skirt and she outgrew it.

00;52;00;07 - 00;52;17;14
David Gokie
Six months later, you know, and she was saving up. Now, we referenced that all the time in our family. All right. Hey, did you remember the value of a dollar? Right. You know, that's what we speak to it often, but I bring that into this because she recognizes it was a frivolous purchase. Such great lesson. But she outgrew it in six months.

00;52;17;14 - 00;52;44;23
David Gokie
So many times we referenced that skirt. When you are talking with your clients, talk about them outgrowing those clothes like that. That the gift that the grandparents are your siblings for, for their kids or for clients kids give them a gift that's going to last a lifetime. The conversation from one that really can, can bring about generational memories can can be there when they really need it.

00;52;44;24 - 00;53;07;29
David Gokie
You know, if you approach it the right way, these conversations can be one out of love instead of out of sales. And so, last thought, 35% of all of the sureties permanent policies are in the juvenile space. There's a reason for that. We make it easy. Pricing is phenomenal. Love to have you look at that with us. So I'm going to throw it back to Mark here in just a second.

00;53;07;29 - 00;53;12;25
David Gokie
I want to close out but also think of any other questions. So Mark any other thoughts.

00;53;13;02 - 00;53;55;15
Mark Lyons
Well you know, the first one that comes to mind is I'm not sure that we want to be encouraging grandparents to give life insurance policies only for Christmas. I mean, it's bad enough when they give you clothes that you're going to grow in six months. You know, we we do need some more toys in this world. So, but yeah, the points well taken and, and I and I think, you know, one, one thing that is really important, particularly when we, we think about the, the products, the ideas that you have presented today.

00;53;55;18 - 00;54;31;11
Mark Lyons
Because it's, it's, it's only good to do those for the, you know, for the advisors that are on this call to, to do those types of things not only to help the people, but it really has to be easy. And I think a surety has probably gone to to great lengths to make it easy. One of the things that makes this type of business easier, in addition to just the process being easy, is there's not a lot of exclusions.

00;54;31;13 - 00;54;57;13
Mark Lyons
I mean, I know when people have or carriers have come out with products in the past and they say, well, you know, this is what it's for. And but it was so specific in what it was for that it seemed like it eliminated 95% of the problems that were out there that could have been solved. But because they didn't fit into the box, and I don't think it surety is doing that.

00;54;57;14 - 00;55;18;18
Mark Lyons
I mean, you know, there's there's very few exclusions. I mean, I think the only one you mentioned today was the was the, the, the pay or benefit writer, you know. Yeah, it has to be on parents and not grandparents. But that was the only thing, you know. So I mean I think that's fantastic.

00;55;18;20 - 00;55;53;16
David Gokie
Yeah. Well you know obviously we talked about a lot today. We talked about disability insurance and the need around, you know, protecting your income. Talked about the foreign resident opportunities and those in the community that are underserved. We talked probably for too long about juvenile life, but I it's funny how much of a 180 I've done in my career about the importance around it, but if you remember, we kicked off today talking about, at least for me, for getting at least 50% of what I discuss in an hour, 70% loss by tomorrow, 90% forgotten by this time.

00;55;53;18 - 00;55;55;03
Mark Lyons
I already forgot that you said that.

00;55;55;04 - 00;56;17;29
David Gokie
Yeah, yeah. See? There you go. You know, there's so there's a saying I think that is a great quote around that, which is the brain does not care what was said. It's it, it cares what gets used. And so the final question I have for you, because I don't see any questions right now. I know we answered quite a few in the chat.

00;56;18;01 - 00;56;30;17
David Gokie
Who is the client you thought of today? And please act on it by reaching out to the SMS team to to make use of it, help that client and to also make some money on the way. So marketing other thoughts.

00;56;30;19 - 00;57;04;12
Mark Lyons
Well, just thank you very much for for being here today David, that it was a great, great webinar. A lot of valuable information. If if you're someone that is not contracted through SMS already, you can you can do it a couple ways. You can call our life department at (877) 888-0166, and someone will help you get contracted with a surety.

00;57;04;12 - 00;57;36;13
Mark Lyons
Or you can go out to senior market sales and then click on the click on the get contracted button. And then we, we, you know, and if you're already with us. I mean, just call your marketer and they'll get you set up. So thank you again, David. Be sure if if you're on the call, you think of that one person that would apply to one of these ideas that that David has talked about.

00;57;36;13 - 00;57;47;26
Mark Lyons
And give us a ring and we can help you out. So until until the June webinar, we'll we'll just talk to you soon. All right. Thank you everybody.