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Networking With Financial Advisors 05.11.2009
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Networking With Financial Advisors 05.11.2009

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  • 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. Topics of Concern to Your Clients
    • Medicare
    • Medicare Advantage Plans
    • Medicare Supplements
    • Part D - Prescription Drug Coverage
    • Funeral Trusts
    • Helping their Parents
    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. My Offer
    • You need to be able to intelligently answer some basic questions your clients have about these topics
    • You can’t be an expert in everything
    • Let me help you better serve your clients needs by partnering with me.
    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. I Will
    • Third party validate you with your client
    • Communicate with you what I sell them
    • Provide feedback as to your clients perception of your relationship
    • Clue you in on potential sales opportunities you may want to pursue with them
    • Direct them back to you as their Primary Advisor—I will not “steal” your client
    • Pay you a referral fee of 20% of the first-year street-level commission
    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. Biggest Objections
    • Are you going to do a good job with my client?
    • Will you steal my client?
    • WIIFM? If I give you referrals what will I get in return?
    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. Who am I
    • Life & Health Licensed May 1999
    • Funeral Home & Cemetery Combination in Minneapolis
    • WI State Rep National Guardian Life (NGL) started 2001
    • Founding Partner of APS formed Jan 2004
    • Personal Production since Aug 2005
    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. I “grew up” with these products
    • 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.
    • NGL transformed itself from a traditional-lines career-agent company to the fastest growing preneed company in the nation.
    • APS is still NGL’s largest marketing partner in terms of volume.
    • Part D Prescription Drug Benefit added to Medicare January 2006.
    • Medicare Advantage sales require knowledge of every benefit category of Medicare.
    • I have over 1,200 unique Medicare clients and service several hundred more on behalf of other agents.
    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. Who’s on Medicare? (EBD – Elderly, Blind & Disabled)
    • Over 65
    • Blind
    • Disabled for two years
    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. 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. Medicare Advantage Plans
    • Low or Zero Premium
    • Types: HMO, PPO, POS, PFFS
    • Co-pays when accessing health care services
    • Preventive care
    • Drug coverage can be included
    • Value adds – Vision, Hearing, Dental, Transportation, OTC & Drug Store Items, Health Club Membership
    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. 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. Medicare Supplements
    • Premium based on Age & Zip Code
    • Underwriting if not guarantee-issue
    • I will typically save your clients $20-$30/mo.
    • 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.
    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. Medicare Assignment
    • Accepting “Assignment” means the physician accepts Medicare approved amounts as payment in full
    • Not accepting “Assignment” allows balance billing
    • Subject to “Limiting Charge” of 115% of Medicare approved amounts
    • Physicians are allowed to accept or decline Medicare patients
    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. Five Plan Options (In addition to Base Coverage - Wisconsin Plans)
    • Part A Deductible - $1,068.00
    • Part B Deductible - $135.00
    • (Typical cost $1.50 - $2.50 per month for each of the next three options)
    • Part B Excess Charges
    • Home Health Care
    • Foreign Travel
    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. 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. 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. Comparison Chart Mention “Hybrids”
    • Medicare Supplement
    • Premium based on Age & Zip code. Average premium $150.00/mo at age 75
    • Pays Medicare cost-sharing amounts
    • Allowance for preventive care
    • Show Medicare Card & Supplement Card
    • Medicare Advantage
    • Typically low or zero Premium
    • An MA plan pays instead of Medicare
    • Co-payment anytime you access a health care service
    • Health Risk assessment
    • Show Medicare Advantage membership card ONLY
    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. Part D – Prescription Drugs
    • Good News: Most Seniors save 1/3 to 1/2 compared to their spending without a PDP
    • Bad News: Confusing to majority of Medicare Beneficiaries
    • Part D penalty may be applied for going without creditable coverage.
    • Retail value under $225.00/mo will not hit donut hole
    • National Average Premium ~$35.00/mo
    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. 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. 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. 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. 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. 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.
    • How many of you have clients that are not going to die?
    • More than 90% of Americans believe that pre-funding their funeral is a good idea.1
    • However, only 12% of those surveyed have worked with a funeral home to pre-arrange.2
    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. Market Research
    • A Study from the National Funeral Directors Association found the following regarding the most appropriate times to pre-fund a funeral:
    • 80% When afflicted with a serious illness
    • 71% With their trusted advisor
    • 61% At retirement
    • 58% When planning retirement
    • 9% When solicited by a funeral home
    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. Funeral Trust Advantages
    • Death benefits are paid to any funeral home of choice. Funeral Director handles the death claim.
    • Any excess will be returned to the client’s estate or a residual beneficiary Income Tax Free
    • Funds are protected from all Creditors, Nursing Homes, Hospitals, Probate and Estate Taxes
    • Immediately excluded as an asset in order to qualify for Medicaid—the only type of trust without the five-year look back.
    • Trust documents and Trustee Fees provided at no cost to your client
    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. Funeral Trust Specs
    • No Underwriting—Guaranteed Issue
    • Issue Ages 0-99
    • $12,500 Policy Maximum
    • Face Amount grows to offset Inflation
    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. 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. 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. 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. 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. Your Clients’ Parents
    • Ingratiate yourself with your Boomer clients by helping their parents with these issues:
    • Lower their Drug Costs with Senior Care/LIS
    • Chronic or Disabling Health Conditions
    • Diabetes
    • Veterans & Spouses with Assisted Living Costs
    • Special Needs Plans
    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. 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. Chronic Conditions
    • Heart
    • Congestive Heart Failure, Peripheral Vascular disease, Coronary Arterial Disease, Heart Surgery, Stent, Valve Replacement, Pacemaker, Defibrilator, Weak or Irregular Heartbeat
    • Lungs
    • Emphesema, Asthma, Bronchitis, on Oxygen or smoked for more than 20 yrs.
    • Diabetes
    • Hypertension
    • Rheumatoid Arthritus
    • Alzheimers/Dementia
    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. 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
    • No cost to enroll
    • No premiums
    • No Deductibles
    • No Co-Insurance
    • No Claim Forms
    • No Cost for Shipping
    • No hidden fees!
    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. AAWV – American Association for War Time Veterans
    • Helps Veterans and their Spouses receive up to $1,949.00 per month towards Assisted Living Cost-of-Care
    • Founded in 2002 and was the first privately held organization to assist veterans with the Aid and Attendance Benefit. 
    • Not-for-profit organization with its own advocacy department and never charges fees for assisting veterans.
    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. 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. Ideal Client Profile
    • Married Couples or Individuals
    • Turning 65 or on Medicare A&B
    • Reside in Wisconsin
    • Not on Kidney Dialysis
    • Any Income Level
    • May have certain Chronic or Disabling Conditions
    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. Partner With Me
    • Email or Call Me
    • Preferably from your office while with your client
    • Web Conference for Introduction
    • Simple Quotes take seconds
    • I can email you all forms
    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. 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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