Policy Risk is Retirement Risk: Strategies for a More Resilient Retirement Plan

00;00;00;17 - 00;00;29;08
Unknown
Well good morning. My name is Mark Lyons. I'm the director of sales at Senior Market Sales. And welcome to the episode for the Life webinar for June. Policy risk is Retirement Risk Strategies for a more resilient retirement plan. And I think, you know, we pretty much know that when we say policy risk in that in that title, it doesn't mean insurance policy risk, it means government policy risk.

00;00;29;11 - 00;01;10;14
Unknown
So I would like to welcome my guests today. We've got David Dooley. Dave's company Plan Gap partners with some of the top insurance companies to bring to market for the first time, a suite of products to help Americans protect against potential reductions of Social Security benefits. He grew up in Flint, Michigan, and knows firsthand what happens when big retirement promises are broken, and it's committed to the bringing of products to the market that help Americans take control of their retirement income plan and stop having their hard earned money subject to political football in 2024.

00;01;10;15 - 00;01;41;00
Unknown
Plan gap featured annuity one deal of the year in America. We also have Paige Phelps. She's the regional vice president at North American Life, and Paige focuses on wholesaling and financial and supporting financial advisors as they grow their businesses and service their clients with confidence. Her experience drifts across across the different areas. And I'm sorry they cut it off the screen.

00;01;41;03 - 00;02;07;19
Unknown
Geez. All good. Not not very fashionable page. Not very professional on my part. All right. Well, welcome you to. We're so happy to have you here. I think we're probably going to hear from David first. And he's going to talk about building a more resilient retirement plan. And I think probably plan gap plays a big part of that.

00;02;07;21 - 00;02;35;01
Unknown
Is that right? David? Yes, sir. And and you're right. It is. I think we're entering maybe a very poignant phase of government policy meddling in how retirement plans stay on track. You know, a lot of concern around there, around debt and deficit. We'll talk about the new report that came out literally just two weeks ago. But it kind of creates that warning light that we need to pay attention to this.

00;02;35;02 - 00;03;03;22
Unknown
All right. That that sounds. That sounds awesome. And then page after David's presentation page is going to talk a little bit about North American and how their specific products have plan gap available and help consumers to save for retirement. Yeah. Okay, great. David, let's get started. All right. Let's share the screen here. Make sure it all works right.

00;03;03;22 - 00;03;30;14
Unknown
And for those of you that are on the call this is live. And so you're you're free to free to ask questions. Please use the Q&A feature down at the bottom of the screen. If you try to use that chat feature, it will not work. So again, Q&A and we'll either answer the questions out loud or sometimes we'll we'll type back a response.

00;03;30;14 - 00;04;04;27
Unknown
So all right with that David take it away. Thank you Mark. And hello everyone. Thank you for joining the presentation. Hopefully today's discussion around the plan gap benefit and specifically around what's going on with Social Security is is enlightening. Maybe not the normal topic and the normal way Social Security is discussed, but really using kind of this new era that I say of government policy risk and how it plays such a major role in a successful financial plan.

00;04;04;28 - 00;04;39;27
Unknown
A lot of us have heard about the other four risks, right. Inflation risk, market risk, medical risk, and and different tax risk. But the government policy side of things is really up for changing in debate in the very near future. In fact, I was reading an article recently about the upcoming election that this slate of senators is most likely the first slate of senators, new senators in the last 40 some years.

00;04;39;27 - 00;05;14;22
Unknown
That's going to have to deal with Social Security reform, especially based on the new trustees numbers, on when that trust fund comes out to to an exhaustive date in which only money coming in is available for paying the money out. And so, as advisors, we have an opportunity to sort of address that elephant in the room and use private market products to help provide peace of mind to our clients, that regardless of what happens up in Washington, DC, your plan is on solid ground.

00;05;14;22 - 00;05;47;01
Unknown
But what's happening because there is so much awareness and so much media around what is happening with Social Security, people are rightfully concerned. And so this was two weeks ago. The new trustee report was released and it said, hey, if things don't change, if there's no reform, Social Security Trust Fund will run out of money in 2032, at which time they will only be enough money to pay about 78% of every dollar promised in the program.

00;05;47;04 - 00;06;18;27
Unknown
And so we're going to talk about what might the solutions be and who might be affected by the solutions. But this is a huge marketing campaign for a huge retirement income gap need in most plans, because if you have about $2.5 million or less of retirement savings, Social Security is going to play most likely a very large role in that retirement income plan.

00;06;18;27 - 00;06;50;14
Unknown
And for 95% of Americans that have 2.5 million or less. It's a very important topic. And so it's it's no wonder that based on a recent survey about the top concerns and retirement planning cuts to Social Security as number two outside of inflation. And so you have hundreds of millions of dollars of marketing. Creating this concern in our opportunity is to address that concern with clients and help them navigate it.

00;06;50;16 - 00;07;26;02
Unknown
And so today we're going to talk about how this concern often drives bad decision making when it comes to the claiming of Social Security and then the compounded effects of that bad decision making. And so specifically for the ideal IUL customer, that higher earner mid-forties Gen X, they are actually the highest ranking cohort that will take money early because they don't think they're going to see their Social Security benefits.

00;07;26;07 - 00;07;50;25
Unknown
And so it's driving poor claiming decisions in their financial plan. And so if we can through the plan gap benefit, say, hey, we have a release valve, we will show you how this product can help offset some of that Social security, that potential Social Security reduction. If you are in fact affected, we can help you feel confident to wait until age 70.

00;07;50;26 - 00;08;21;25
Unknown
And so what does that mean? It means all of a sudden real dollars back into your client's pocket. So if if a normal kind of average IUL buyer pushes off from age 67 to age 70, that can increase their monthly retirement income by a little over thousand hundred dollars, which is real money which over the course of that person's life can add a little over $400,000 of extra money.

00;08;21;27 - 00;08;49;12
Unknown
What a lot of people discount and forget is what happens with survivor benefits. And so that larger number stays. So if someone can wait till age 70 in the household, that larger number will stay intact upon the death of a spouse. And what is something that the current private market can offer? Is this income? Is inflation protected? We all know about the Social security cost of living adjustment.

00;08;49;12 - 00;09;13;12
Unknown
And so this idea of waiting till age 70 and using private market products to help people get comfortable and waiting till age 70 isn't. Don't take my word for it. Basically everyone out there that is of good health, as evidenced by what Morningstar and Blackrock think should wait as long as possible in bridge until age 70. And that is.

00;09;13;13 - 00;09;48;06
Unknown
I'm sure most of you know this, but I kind of have to go over it. That is because you have this almost guaranteed 8% simple roll up on Social Security income past age 67. And of course it works. In opposite two, you have the negative effects of claiming early at age 62. But what happens is because there is so much concern about the health of Social Security, a lot of people aren't making the correct decision, even if they have the financial means to do so.

00;09;48;09 - 00;10;19;03
Unknown
A little less than 10% of claimants are waiting till age 70. And so the real opportunity now is for you guys to go to your clients and talk to them about how do we architect a financial plan to make sure it's confident, regardless of what the government does. So you can wait till age 70? And this is, I think I mentioned sort of the the marketing plan or the marketing campaign that's already out there by the government.

00;10;19;04 - 00;10;39;02
Unknown
This is a real document. It's called will Social Security be there for me? You can go to SSA gov there for me or forward slash there for me. And you know, I always say if I was selling a car and I had to put a pamphlet out that says Will my car start from me in the morning? That's not indicative of the quality of the product.

00;10;39;02 - 00;11;09;07
Unknown
And so you have all this awareness going out in the new update. This was just a few years ago. It was 2035, and now it's already 2032. And it's around three quarters of every benefit is promised to be paid at that time, which means about a quarter not being there. And when I started the company, it used to be a most sacrilegious to believe that people at or near retirement could be affected by government policy.

00;11;09;10 - 00;11;33;26
Unknown
But there's a couple examples that actually fly in the face of that. One is the 19 or the in the 1970s or something called the Notch Act, which affected someone age 60 at that time, age 60. It affected their payment at age 62. In addition, I had the opportunity to talk to this guy, the former head of Social Security, and he thinks we're going to get really, really close.

00;11;33;26 - 00;11;58;24
Unknown
And I think instinctively we know we're going to get really close to the spectrum of or the, the idea of, of Social Security cuts. And then there's going to be how much less in benefits and how much more in taxes are people willing to pay. And the baby boomers, you know, had an opportunity to fix this ten years ago.

00;11;58;26 - 00;12;22;24
Unknown
They were about half of the electorate. There were about half of the voting bloc. And so they could have reformed Social Security where their benefits probably wouldn't have been cut. But assuming we wait towards the last minute, which big topics in the political scheme of things in America seem to wait closer to the last minute, just like in 1983, which was the last major reform.

00;12;22;26 - 00;12;56;19
Unknown
The older generations ain't going to be in charge anymore. And so all of a sudden we have to think about, well, who's going to be in charge and what are their priorities, and will that affect my clients. And so what we do know is the younger generations have a different priority than bailing the boomers out. This is the whole okay, boomer movement where it came from, this sentiment among younger generations that the boomers have extracted enough wealth out of the system.

00;12;56;24 - 00;13;30;19
Unknown
Art of America, in that the younger generations in their peak earning years, if they're going to pay more taxes, they wanted to go to other things rather than bailing the boomers out. And so do you. Mind you mind if I interrupt? Just I just have a question. I don't mean to throw you off the presentation with regard to the people that are making the the bad decision to take Social Security out, is there any sense of how many people are doing that?

00;13;30;21 - 00;14;01;06
Unknown
Because that's actually when they're retiring and they need the money versus certainly there are people that absolutely need the money or are in a career that say is heavy manual labor, right? And so as they can't wait till age 70 from a working standpoint, right, right, right. And so I think the numbers between 30 and 35% of people make a very needs based decision.

00;14;01;07 - 00;14;44;01
Unknown
Right. And and the other makes decisions around health issues too because there is a break even analysis of course. Right. And so if I have severe health issues early in my 60s or I have very low confidence in my longevity, then maybe it makes sense to take it early. Right? But for a vast majority of people, especially as we know, longevity is increasing and we know that those generally there's a lot of data out there that your ideal client profile, sort of that mass affluent and above, are generally a healthier demographic with longer longevity.

00;14;44;03 - 00;15;06;08
Unknown
Those people are really the targets to look to. How do we wait as long as possible to claim that Social Security benefit? Yeah, I mean, I know, you know, personally, I've talked to a lot of friends and, you know, they're like, I'm going to get mine now because, yeah, it might not be there. I'm like, so that's a real so that's a real issue.

00;15;06;09 - 00;15;43;19
Unknown
Right. And so then it has those downstream consequences. And if they're making it because of government policy, that's one thing. That's where I think a solution like ours and Paige will talk about here in a second really comes in. But if they're making it for health reasons, then then that might be the right choice, you know? Yeah. And so, you know, it's interesting because, I think a few days ago, Bill Cassidy, who was ending his Senate term, is really doubling down on trying to reform Social Security before he leaves.

00;15;43;19 - 00;16;24;08
Unknown
And there'll be a lot, lot of discussion around that. But a little over a year ago, there was the Social Security Fairness Act. And I don't know if you remember, this is where they they added people that were on the government pension offset and some other, you know, exclusions to Social Security. They allowed them into the system. And so this was the first time in about over 40 years that there were actually senators that introduced an amendment to, let's say, cut Social Security, which is raising the full retirement age, is a theoretical cut to Social Security.

00;16;24;08 - 00;16;49;07
Unknown
And so always like to say, you know, the last time that happened, I was watching the A team in thinking return of the Jedi was awesome. And so that's how long ago it was. And the reality is this is going to be amplified more and more and more as we get closer to that 2032 day, which is going to create more and more questions from clients.

00;16;49;09 - 00;17;28;14
Unknown
And why are clients so concerned? David just was Christine the evil car? Christine the evil car? Yeah. Oh. Yeah, I think so. Yes. Yeah yeah yeah yeah yeah. If anybody on the call does remember that, just call me and I'll explain all cards. Christmas story He-Man was awesome. And so, you know, this is what I mentioned earlier, this sort of 94% of Americans that have less than $2.5 million saved, this couple has almost $1 million saved, and they want to live off of $95,000 a year.

00;17;28;14 - 00;17;51;08
Unknown
And this is why we think social security policies, social security news, Social Security claiming is such an emotional decision because this couple's feeling pretty good about their planning, right. They want to live off $95,000 a year. You have the their withdrawal rate, their full Social Security intact. This is a two income household. So there's two Social security checks coming in there.

00;17;51;08 - 00;18;29;12
Unknown
Monte Carlo simulation rate is 98%. Pretty strong. If all of a sudden you introduce what the government's talking about to the exact same plan, and they still want to live off 95,000. That plan goes to a coin flip, because now you have greater withdrawal string to make up for that 22% Social Security reduction forecasted by the government. What's interesting is a lot of people in this demographic that have assets and income believe that they might be targeted by Social Security reform.

00;18;29;14 - 00;18;56;07
Unknown
That means testing could be introduced. Right? And so do I personally believe there's going to be across the board. All of a sudden reduction in Social Security for everyone? Probably not. I think that's politically very dangerous. But the rich need to pay their fair share. Certainly sounds like something that could get some political steam behind it. The problem is what defines rich.

00;18;56;07 - 00;19;18;19
Unknown
And I think we learned during Covid, a lot of people were surprised that they were means tested out of Covid stimulus checks when income was $75,000. Remember, it was 75,000 up to 100,000. Then after 100,000, you got no stimulus. You were means tested. And so again, there's a lot of a lot of talk out there on who is going to bear the brunt of these fixes.

00;19;18;25 - 00;19;41;26
Unknown
And so when you learn about the secure horizon IUL and some of the tools available to you, you can model to your client what what does that reduction actually look like? And a lot of people are surprised a potential reduction could be over the course of their lifetime, anywhere between 2 and $400,000. And so this is sort of how do we protect that income stream?

00;19;41;26 - 00;20;14;14
Unknown
How do we have a base of income stream we can rely on regardless of what Washington does? And we know it's a concern for financial advisors. This is an article a few years ago which saying Social Security is such a huge problem. Financial advisors have such low faith in its existence. It's hard to plan around, which is why Plan Gap exists and why our partnership with North American exists to bring to market, for the first time ever, an enhancement that pays an extra interest credit.

00;20;14;15 - 00;20;53;06
Unknown
Should a Social Security cut of 3% or more come into play, or more than 3%. And so that allows you to have a new arrow in your quiver as you build out a robust financial plan for your client. And we know clients are concerned because we have found this is a recent survey as well, that if people financial advisors aren't talking about Social Security and how to optimize it and protect it and manage it, 75% of people of clients are willing to leave their advisor.

00;20;53;08 - 00;21;38;06
Unknown
And so we have this storm brewing that again, don't take my word for it. Jamie Dimon recently talked about it. Larry Fink actually dedicated his annual report a couple years ago to the issue of our debt and deficit in America, in the tough choices we're going to have to make. It's sort of like, really what runs America as the bond market and as we get more and more debt and deficit, if interest rates don't settle down or continue where our debt becomes more risky, that will have a spiraling effect on our ability to solve the huge problems of our entitlement systems.

00;21;38;06 - 00;22;10;25
Unknown
And so a lot of people feel like they're on their own. And that is where, again, advisors can step in and say, let us show you solutions that regardless of this, the specter of Social Security reductions, we have a plan for stabilized retirement income, which is, at the end of the day, what most people want. And so by doing that and helping them feel comfortable by pushing to age 70 again, we can really quantify what that means for dollars in their pocket.

00;22;10;25 - 00;22;31;25
Unknown
And even if they push out and they're affected by change, it's it's affected by change on a bigger dollar amount. And so these are, of course, the benefits that we talked about earlier of the real measurable benefits of waiting till that age 70. And then really the next steps for you all is to how to go out and talk about it.

00;22;31;26 - 00;22;55;22
Unknown
Paige is going to talk here in a second about the product and how it all works. But this is our opportunity to use that awareness, use that concern in the marketplace and talk about government policy risk in a new and empowering way, rather than people feeling like they're just sort of at the will of government policy and what that means to the retirement plan.

00;22;55;24 - 00;23;19;07
Unknown
And so, yeah, thanks, Dave. I'm going to go ahead and grab the screen from you and share kind of the solution that complements what David just spoken about with the risk. So of course, you know, when you when you hear a presentation like this, I don't think you can necessarily say it's optimistic or pessimistic. I think it's just a realistic conversation that we have to have.

00;23;19;07 - 00;23;48;04
Unknown
And as advisors, it's one of the pieces of the retirement picture. It's one of the pieces of the puzzle that our clients are concerned about. I think what you have here is a real advantage in not only product, but carrier, MGA, marketing organization and senior market sales to your advantage to help bring these types of solutions to your consumers, to help, you know, with that expertise, maybe this isn't your day to day, maybe this is not something that consumes you.

00;23;48;06 - 00;24;05;25
Unknown
Life insurance or annuities aren't aren't something that consumes you all the time. You may be in different avenues of the business, but this is one thing where you can say, hey, we can have a conversation about this. I've got experts and resources that can help have us have this conversation. And there are solutions. There are different ways that we can look at this.

00;24;05;25 - 00;24;31;19
Unknown
So one of the ways that North American has pulled this together and really emphasized the benefit of the plan gap is by building an index universal life product called Secure Horizon. And we built that in tandem with a Nexus you may or may not know. And access is essentially a boutique design firm that carriers lean on to help bring different elements of product development, such as a benefit like plan gap to product design.

00;24;31;19 - 00;24;54;10
Unknown
And so that's where this whole storm kind of comes together. North American is the product manufacturer. We use design and indexes that a Nexus is built, and we use benefits and features like Dave has built over at Plan Gap to really drive outcome driven design, which you'll hear me talk about throughout the couple slides that I have to complement Dave's presentation today.

00;24;54;12 - 00;25;18;05
Unknown
So this product was launched on the indexed Universal Life chassis about a year ago. You may be familiar with it from our annuity side as well. Our annuity suite that we've built in tandem with an axis has also got the plan gap benefit in IT and the Secure Horizon name. So all of it is very consistent with what you'll see from North American, from an axis and from the plan get benefit built into the product.

00;25;18;08 - 00;25;38;11
Unknown
Focusing on our conversation today, it's really around the indexed universal life. As Mark mentioned, this is life driven webinar for June. And so we want to kind of touch on a couple of things here that help just pull all of this together. So when you think about the Secure Horizon Index Universal Life product, this is an exclusive opportunity.

00;25;38;12 - 00;26;01;10
Unknown
Not everybody has access to this product. An excess wants to make sure that distribution partners are well served when it comes to the exclusivity piece of this. And so because you are a producer under senior market sales, you get access to this product. A lot of your peers don't. And with that you get the strength of design. So there are guarantees in this product.

00;26;01;10 - 00;26;22;25
Unknown
There are tons of different index options that you can lean on and leverage. However, what I want to focus on and where the plan gap piece of this comes into play is really that far right hand side of the screen. These are the modern planning solutions, that outcome driven design that is changing the way that we think about insurance products, and what additional value can be brought to those clients and those consumers.

00;26;22;25 - 00;26;48;07
Unknown
And so when we look at the modern planning solutions, that is where the secure stage supplemental benefits endorsement comes into play. Now, I know there's a lot of word smithing here. Carriers typically tend to throw in as many variables and words and acronyms as they possibly can, but this is where the plan gap feature and benefit that Dave referenced throughout his presentation is built into the insurance product.

00;26;48;08 - 00;27;08;28
Unknown
We include this on all the policies. It is no additional cost. We believe it's a value add that every client should have if they have this policy. So let's take a look at how it works. I think for you all listening in on this call, you should have gathered by now a lot of different nuggets and pieces that can help from a marketing standpoint, right?

00;27;08;29 - 00;27;34;15
Unknown
Social security is obviously a hot topic hot button. The secure stage benefits endorsement complements that. And I think this is really your marketing pop when it comes to indexed universal life. So how do we get to leveraging the plan gap if something changes with Social Security and it's all really built into this longevity benefit base. If you're familiar with indexed universal life illustrations, this probably looks similar.

00;27;34;16 - 00;27;58;20
Unknown
There is an account value, there is a surrender value. There is a death benefit when it comes to that illustration. The piece that's different on this product is this longevity benefit base. And it's this far column on the right hand side of the screen. This is what we can utilize to provide that plan gap benefit to help complement the changes in Social Security.

00;27;58;22 - 00;28;24;09
Unknown
So with the longevity benefit base we take your normal interest credited in the index universal life contract. And we multiply that by 150%. That 150% is a guaranteed number in the contract. We have put it there. It will not change that number does not does not differentiate from anything. It is 150% that we multiply that interest credited by with that calculation.

00;28;24;09 - 00;28;50;04
Unknown
That's what gives us that pool of money, this longevity benefit base that we're referring to. And with that bigger number, we can then leverage it for a couple of different things. First and foremost, guaranteed lifetime income. A lot of our clients that we're working with are concerned about longevity, risk outliving their money. There is a way that they can use that longevity benefit base to turn on guaranteed income in a life insurance contract.

00;28;50;04 - 00;29;18;08
Unknown
That's how we've designed the secure stage endorsement. The middle piece of this is based off of what David talked about, the plan gap, the Social Security reductions. We know that that is projected to change over time. And so if there is a 3% material change to the way Social Security is calculated, they have the ability with this longevity benefit based and this endorsement, to actually take money from their contract for a period of 12 years.

00;29;18;08 - 00;29;34;15
Unknown
And this is the piece of this is the plan gap piece. Essentially, this is the piece where they can leverage because of that change to Social Security. They can take money out of their life insurance contract. There is a final piece to this secure stage, and it would be to leave a greater legacy if they wanted to access it.

00;29;34;15 - 00;30;03;08
Unknown
But the moral of the story here is that we are looking at different ways that clients can utilize their life insurance contract for things like longevity risk, Social security change, or leaving a greater legacy to their family. And so that's really where this endorsement comes into play. And what David talked about on the front end is if we can push to 70 before they start taking that Social Security, there are other options here with their life insurance contracts that allow them to bridge that gap.

00;30;03;11 - 00;30;26;27
Unknown
Okay. So let me show you just kind of an example of how this would work. This is a male 45 preferred best rate class. The total planned premium over time is $300,000. For round number sake will say that the credited interest in the contract is also $300,000. So we're going to take that 300,000 and we're going to multiply it by 150%, which gives us $450,000.

00;30;26;27 - 00;30;49;05
Unknown
We then add that to the planned premium, and that's what gives us our longevity benefit base of $750,000. So with the real money example, any of those three actions that they would decide to take, the life pay, income benefit, the plan gap benefit, the focus of today's conversation or the enhanced death benefit. This is how it turns out from a from a real number standpoint.

00;30;49;05 - 00;31;17;03
Unknown
So if we look at that plan gap, if the if the circumstances change, that allows them to access that plan gap benefit, this will pay that in individual $62,500 per year for a period of 12 years. That should be a good chunk of change to help them bridge that gap with those Social Security changes there. So just again, another way to show you how you could leverage and think about utilizing life insurance in a different way.

00;31;17;05 - 00;31;40;10
Unknown
Those are the types of things that we want to bring you here at North American, to make those conversations even more value added with with the clients that you are serving. So page does that does that plan get benefit affect the cash surrender value in the product? Yes. So there are some variables there. Of course. It kind of works in tandem.

00;31;40;10 - 00;32;05;25
Unknown
Like you've got your chronic illness benefits. You're drawing down death benefit when you are taking that plan gap benefit. So that is the kind of the way to look at it. Yeah. Okay. So just to kind of wrap up here and give you some advisor positioning, some personas that you can go after, you know, anybody that is a candidate for indexed universal life insurance, I think we should be having this conversation.

00;32;05;28 - 00;32;30;04
Unknown
Value added benefits are going to become more and more important as we go on when talking life insurance, and what a client can get out of their policy. These are kind of some key areas that we've experienced and seen success with. When you are thinking about your client list and your potential opportunities, obviously pre retirees is a really great spot to be in, especially with the Social Security conversation plan gap benefit.

00;32;30;07 - 00;32;53;19
Unknown
High income professionals are another great category. Business owners of course, and then more of that conservative of fluent couple. These are really kind of the four areas that we've seen. Advisors have success when they're thinking about their client lists and their potential opportunities for the Secure Horizon Index, universal life. So I'm going to wrap up just kind of here, you know, life insurance apps have hit record levels in January 2026.

00;32;53;20 - 00;33;18;03
Unknown
Index universal life insurance. That segment continues to dominate the market. It's not going where anywhere. It's expected to continue to be a leader in the market for consumer preference and, you know, for continual growth and policies. And really by distribution channel, the segment that you are in as a producer, as an advisor, that is going to continue to grow as well.

00;33;18;03 - 00;33;38;19
Unknown
And so these this demand for these index universal life solutions is not going anywhere. It's going to increase. But I think what's important is that we as carriers continue to bring that outcome driven design to you so that you can have these additional conversations with clients and help solve for some of these risks, like Social Security and retirement years.

00;33;38;21 - 00;34;07;10
Unknown
So with that, we'll kind of end there. Any questions that pagers a question in the chat chat. What happens after 12 years. So we're talking about the plan gap benefit. Do they go back to the original lifetime benefit. Yes. So let me just pull up. I'm going to share one other piece here real quick.

00;34;07;13 - 00;34;27;22
Unknown
So one of the things that we can provide you all because of course there are a lot of different questions when it comes to the secure stage, how all of these different things work. We have this FAQ that kind of lists out all of these different pieces. And so it's got I would say it's probably one of the better pieces that we have will send it in follow up.

00;34;27;24 - 00;34;47;01
Unknown
That just kind of goes through. If I take X, what happens here? There is a chart here that kind of talks about the impact of the account value, the impact to the longevity benefit base. So that should answer a lot of these kind of more specific technical questions that you may have. And we'll make sure that you all have a copy of this.

00;34;47;04 - 00;35;09;27
Unknown
And then of course, you know, the the, the marketing team here at SMS would be able to answer a lot of the questions that people on the call may have. And certainly we can set up a, a conference call with, with page or, you know, our internal AJ. And then we would be able to go over all those things.

00;35;09;28 - 00;35;33;18
Unknown
And I just wanted to, you know, hit on this point that you made earlier about Nexus. You know, I think we were we were one of the first distributors for, for a Nexus. And so we have a very, very long history with that organization and very, very good partner of ours. And that's something that you can't get every.

00;35;33;20 - 00;35;57;23
Unknown
So, you know, there's a there's a just a limited set of, of agencies that that can make those products available. And like we had mentioned, I mean, this is, you know, one piece of the puzzle, I think it's definitely a hot topic. I would leverage it in your conversations with your clients, for sure. But there are other things within the Secure Horizon product that are also great.

00;35;57;23 - 00;36;19;13
Unknown
And so I think it's a great opportunity to maybe open the door, begin having the conversation. But yes, Mark, I would agree with you. Reach out to your team at Senior Market Sales to learn more about the other features within the product as well. We are happy at North American to have those conversations to in a more one on one type of situation.

00;36;19;15 - 00;36;48;29
Unknown
Well, awesome. I am showing on my screen as well. We have a microsite that you all can access secure horizon I. Com and there is no login, nothing required in order to access this information. On the far right hand side of the screen there is a Social Security reduction estimator. So if this really resonates with you and you want to kind of learn more about how you can incorporate this into your practice, I think this is a really great microsite.

00;36;49;01 - 00;37;18;11
Unknown
It helps them, you know, calculate benefit, how it could impact retirement plan and gives you some ideas and talking points to continue that conversation and have a little bit more information at your fingertips. So securities and Ireland. So historically North American has been a a very strong in the in the in the field of providing awesome consumer tools and marketing materials.

00;37;18;11 - 00;37;43;19
Unknown
And I and I would assume that for all those things that that you've talked about here today, there is materials for the for the producers to use with their consumers. Yeah. And I think, I mean, one of the great things about the resources here that I'm showing you is it it's designed to be consumer friendly. So this is not necessarily going to be like product speak on this website.

00;37;43;19 - 00;38;04;21
Unknown
This is something you can pull up when you're sitting with your client and say okay, let's talk through this and it helps explain some of those features. Of course, the secure stage has the information about how you would calculate that benefit base, like the example that we show we showed in the presentation. And then it talks about the offset to potential Social Security reductions that Dave had in his slides.

00;38;04;21 - 00;38;25;00
Unknown
And the plan gap benefit. So this is all very consumer friendly. It's a resource and a tool for you to help guide that conversation. Okay. We we had another another question in the chat. Do the results from the SSI calculator filter back to the.

00;38;25;02 - 00;38;50;05
Unknown
To the Or. Is there any kind of agent specific link we can send clients? That's a great idea that at the time is not a feature that we have. So you're I, I'm interpreting that is essentially like a lead tool, lead source that you could send the link and have clients kind of complete and come back and say, okay, we probably need to talk about this.

00;38;50;07 - 00;39;14;00
Unknown
It's a great idea. I'll take it back to our marketing team. Currently, it does not function in that matter. Okay. Thank you. And for the person that asked the question, you know, if you did a follow up answer or you have a follow up question and go, go ahead and put it back in the chat.

00;39;14;03 - 00;39;47;03
Unknown
All right. Well, thank you very much David. And thank you. Page. That was that was that was great. There was a lot of information that was that was presented today. And certainly, you know, we can get these folks back on a call if you want to hear more. And, you know, pages. I mean, from my experience, she's been more than more than willing to, to help us out to, to get cases done and cases placed.

00;39;47;03 - 00;40;15;28
Unknown
And and so we thank you for that. And thank you both for being on the call. If you'd like to know more information about either plan Gap or the North American product line, you know you can always reach out to your marketer if you're already with senior market sales, if you're new to senior market sales and you just want to call us, the number is (877) 888-0166.

00;40;16;01 - 00;40;40;04
Unknown
And that's the direct line to our life department. And you can go out to senior market sales. Com and you know click on the Let's talk or get contracted buttons and we'll reach back out to you. This is typically the part of the webinar where I say we'll see you next month, but we will not see you next month.

00;40;40;06 - 00;41;08;13
Unknown
Senior market sales and SMBs are moving. And so our studio shut down. And so we can't do it next month. So so we'll we'll be back in August with another topic. But again feel free to to reach out to us. Okay. I just got sidetracked by another question that was in the chat, which is contact info, which I just gave.

00;41;08;16 - 00;41;19;15
Unknown
So we want to thank you again for for joining us today, and we'll see you in two months. All right. Thanks very much. Yeah. Thank you.