Networking With Financial Advisors 05.11.2009

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Networking With Financial Advisors 05.11.2009

  1. 1. Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Welcome! Christopher Speece Better Serve Your Clients Needs by Partnering
  2. 2. Topics of Concern to Your Clients <ul><li>Medicare </li></ul><ul><li>Medicare Advantage Plans </li></ul><ul><li>Medicare Supplements </li></ul><ul><li>Part D - Prescription Drug Coverage </li></ul><ul><li>Funeral Trusts </li></ul><ul><li>Helping their Parents </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  3. 3. My Offer <ul><li>You need to be able to intelligently answer some basic questions your clients have about these topics </li></ul><ul><li>You can’t be an expert in everything </li></ul><ul><li>Let me help you better serve your clients needs by partnering with me. </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  4. 4. I Will <ul><li>Third party validate you with your client </li></ul><ul><li>Communicate with you what I sell them </li></ul><ul><li>Provide feedback as to your clients perception of your relationship </li></ul><ul><li>Clue you in on potential sales opportunities you may want to pursue with them </li></ul><ul><li>Direct them back to you as their Primary Advisor—I will not “steal” your client </li></ul><ul><li>Pay you a referral fee of 20% of the first-year street-level commission </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  5. 5. Biggest Objections <ul><li>Are you going to do a good job with my client? </li></ul><ul><li>Will you steal my client? </li></ul><ul><li>WIIFM? If I give you referrals what will I get in return? </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  6. 6. Who am I <ul><li>Life & Health Licensed May 1999 </li></ul><ul><li>Funeral Home & Cemetery Combination in Minneapolis </li></ul><ul><li>WI State Rep National Guardian Life (NGL) started 2001 </li></ul><ul><li>Founding Partner of APS formed Jan 2004 </li></ul><ul><li>Personal Production since Aug 2005 </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  7. 7. I “grew up” with these products <ul><li>The three largest publicly traded death care companies in the world—SCI, Lowen (now known as Alderwoods) and Stewart—had just peaked on the coasts and insurance-funded burial agreements were at the top of their growth stage in the Midwest. </li></ul><ul><li>NGL transformed itself from a traditional-lines career-agent company to the fastest growing preneed company in the nation. </li></ul><ul><li>APS is still NGL’s largest marketing partner in terms of volume. </li></ul><ul><li>Part D Prescription Drug Benefit added to Medicare January 2006. </li></ul><ul><li>Medicare Advantage sales require knowledge of every benefit category of Medicare. </li></ul><ul><li>I have over 1,200 unique Medicare clients and service several hundred more on behalf of other agents. </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  8. 8. Who’s on Medicare? (EBD – Elderly, Blind & Disabled) <ul><li>Over 65 </li></ul><ul><li>Blind </li></ul><ul><li>Disabled for two years </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  9. 9. Parts of Medicare Part A – Hospital, Think “Inpatient” Inpatient Hosp, SNF, Home Health, Hospice Part B – Medical, Think “Outpatient” Doctor Visits, PCP & Spec, Therapies, Outpatient Surgeries & Procedures, Ambulance Rides, Emergencies & Urgent Care, Xrays, Labs & Diagnostic Tests, DME’s and Preventive Screenings Part C – Medicare Advantage Medicare Moderization Act of 2003 Part D – Think “D” for “Drugs” Prescription Drug Coverage Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  10. 10. Medicare Advantage Plans <ul><li>Low or Zero Premium </li></ul><ul><li>Types: HMO, PPO, POS, PFFS </li></ul><ul><li>Co-pays when accessing health care services </li></ul><ul><li>Preventive care </li></ul><ul><li>Drug coverage can be included </li></ul><ul><li>Value adds – Vision, Hearing, Dental, Transportation, OTC & Drug Store Items, Health Club Membership </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  11. 11. Carriers – MA & MA-PD Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  12. 12. Medicare Supplements <ul><li>Premium based on Age & Zip Code </li></ul><ul><li>Underwriting if not guarantee-issue </li></ul><ul><li>I will typically save your clients $20-$30/mo. </li></ul><ul><li>I can practically guarantee these savings if your clients are healthy. Its not “fair” per se but Supplement Carriers set their premiums in each market to avoid adverse selection. I can help educate your client to deal with this reality. </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  13. 13. Medicare Assignment <ul><li>Accepting “Assignment” means the physician accepts Medicare approved amounts as payment in full </li></ul><ul><li>Not accepting “Assignment” allows balance billing </li></ul><ul><li>Subject to “Limiting Charge” of 115% of Medicare approved amounts </li></ul><ul><li>Physicians are allowed to accept or decline Medicare patients </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  14. 14. Five Plan Options (In addition to Base Coverage - Wisconsin Plans) <ul><li>Part A Deductible - $1,068.00 </li></ul><ul><li>Part B Deductible - $135.00 </li></ul><ul><li>(Typical cost $1.50 - $2.50 per month for each of the next three options) </li></ul><ul><li>Part B Excess Charges </li></ul><ul><li>Home Health Care </li></ul><ul><li>Foreign Travel </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  15. 15. Sample Quote Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  16. 16. Carriers – Med Supps Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  17. 17. Comparison Chart Mention “Hybrids” <ul><li>Medicare Supplement </li></ul><ul><li>Premium based on Age & Zip code. Average premium $150.00/mo at age 75 </li></ul><ul><li>Pays Medicare cost-sharing amounts </li></ul><ul><li>Allowance for preventive care </li></ul><ul><li>Show Medicare Card & Supplement Card </li></ul><ul><li>Medicare Advantage </li></ul><ul><li>Typically low or zero Premium </li></ul><ul><li>An MA plan pays instead of Medicare </li></ul><ul><li>Co-payment anytime you access a health care service </li></ul><ul><li>Health Risk assessment </li></ul><ul><li>Show Medicare Advantage membership card ONLY </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  18. 18. Part D – Prescription Drugs <ul><li>Good News: Most Seniors save 1/3 to 1/2 compared to their spending without a PDP </li></ul><ul><li>Bad News: Confusing to majority of Medicare Beneficiaries </li></ul><ul><li>Part D penalty may be applied for going without creditable coverage. </li></ul><ul><li>Retail value under $225.00/mo will not hit donut hole </li></ul><ul><li>National Average Premium ~$35.00/mo </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  19. 19. Part D – Medicare Standard Base Plan Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece No Limit $3,453.75 $2,405 $295 Discounted Retail No Limit Balance $2.40/$6.00 Catastrophic 4 $6,153.75 $0 $3,453.75 Coverage Gap “ Donut Hole” MOOP: $4,350 3 $2,700 $1,803.75 $601.25 Cost Share 25%/75% 2 $295 $0 $295 Deductible Up to $295 1 Running Total Plan Pays You Pay Name Stage
  20. 20. Part D Tiers Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece 25% - 33% Specialty 4 $50 - $80 Non-Preferred Name Brands 3 $20 - $40 Preferred Name Brands 2 $0 - $10 Generics 1 Co-Pays Drugs Tier
  21. 21. www.Medicare.gov Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  22. 22. Carriers – PDP’s Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  23. 23. Enrollment Periods Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  24. 24. <ul><li>How many of you have clients that are not going to die? </li></ul><ul><li>More than 90% of Americans believe that pre-funding their funeral is a good idea.1 </li></ul><ul><li>However, only 12% of those surveyed have worked with a funeral home to pre-arrange.2 </li></ul>The Funeral Expense Trust Sources: 1 American Funeral Director, January, 2005 2 International Cemetery & Funeral Association, 2004 Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  25. 25. Market Research <ul><li>A Study from the National Funeral Directors Association found the following regarding the most appropriate times to pre-fund a funeral: </li></ul><ul><li>80% When afflicted with a serious illness </li></ul><ul><li>71% With their trusted advisor </li></ul><ul><li>61% At retirement </li></ul><ul><li>58% When planning retirement </li></ul><ul><li>9% When solicited by a funeral home </li></ul>Source: National Funeral Directors Association Wirthlin Report, 1999 Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  26. 26. Funeral Trust Advantages <ul><li>Death benefits are paid to any funeral home of choice. Funeral Director handles the death claim. </li></ul><ul><li>Any excess will be returned to the client’s estate or a residual beneficiary Income Tax Free </li></ul><ul><li>Funds are protected from all Creditors, Nursing Homes, Hospitals, Probate and Estate Taxes </li></ul><ul><li>Immediately excluded as an asset in order to qualify for Medicaid—the only type of trust without the five-year look back. </li></ul><ul><li>Trust documents and Trustee Fees provided at no cost to your client </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  27. 27. Funeral Trust Specs <ul><li>No Underwriting—Guaranteed Issue </li></ul><ul><li>Issue Ages 0-99 </li></ul><ul><li>$12,500 Policy Maximum </li></ul><ul><li>Face Amount grows to offset Inflation </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  28. 28. Best Funding Method Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  29. 29. Sample Ads ANNEX Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  30. 30. Sample Ads SPANO Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  31. 31. Sample Ads Oswald Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  32. 32. Your Clients’ Parents <ul><li>Ingratiate yourself with your Boomer clients by helping their parents with these issues: </li></ul><ul><li>Lower their Drug Costs with Senior Care/LIS </li></ul><ul><li>Chronic or Disabling Health Conditions </li></ul><ul><li>Diabetes </li></ul><ul><li>Veterans & Spouses with Assisted Living Costs </li></ul><ul><li>Special Needs Plans </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  33. 33. Senior Care/LIS Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  34. 34. Chronic Conditions <ul><li>Heart </li></ul><ul><li>Congestive Heart Failure, Peripheral Vascular disease, Coronary Arterial Disease, Heart Surgery, Stent, Valve Replacement, Pacemaker, Defibrilator, Weak or Irregular Heartbeat </li></ul><ul><li>Lungs </li></ul><ul><li>Emphesema, Asthma, Bronchitis, on Oxygen or smoked for more than 20 yrs. </li></ul><ul><li>Diabetes </li></ul><ul><li>Hypertension </li></ul><ul><li>Rheumatoid Arthritus </li></ul><ul><li>Alzheimers/Dementia </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  35. 35. Diabetic Care Coordination Are you required by your doctor to check your blood glucose level at least 1x/day? Brand-New State-of-the-Art Meter Diabetic Supplies <ul><li>No cost to enroll </li></ul><ul><li>No premiums </li></ul><ul><li>No Deductibles </li></ul><ul><li>No Co-Insurance </li></ul><ul><li>No Claim Forms </li></ul><ul><li>No Cost for Shipping </li></ul><ul><li>No hidden fees! </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  36. 36. AAWV – American Association for War Time Veterans <ul><li>Helps Veterans and their Spouses receive up to $1,949.00 per month towards Assisted Living Cost-of-Care </li></ul><ul><li>Founded in 2002 and was the first privately held organization to assist veterans with the Aid and Attendance Benefit.  </li></ul><ul><li>Not-for-profit organization with its own advocacy department and never charges fees for assisting veterans. </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  37. 37. Dual Eligibles Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  38. 38. Ideal Client Profile <ul><li>Married Couples or Individuals </li></ul><ul><li>Turning 65 or on Medicare A&B </li></ul><ul><li>Reside in Wisconsin </li></ul><ul><li>Not on Kidney Dialysis </li></ul><ul><li>Any Income Level </li></ul><ul><li>May have certain Chronic or Disabling Conditions </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  39. 39. Partner With Me <ul><li>Email or Call Me </li></ul><ul><li>Preferably from your office while with your client </li></ul><ul><li>Web Conference for Introduction </li></ul><ul><li>Simple Quotes take seconds </li></ul><ul><li>I can email you all forms </li></ul>Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Christopher Speece
  40. 40. Madison 101 Nob Hill Rd., Suite 202 Madison, WI 53713 608-446-2127 Toll Free Phone & Fax: 800.794.2598 [email_address] Milwaukee 17100 W Bluemound Rd., Suite 201 Brookfield, WI 53005 414.386.5007 Thank You! Christopher Speece Better Serve Your Clients Needs by Partnering

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