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Networking With Financial Advisors 05.11.2009
 

Networking With Financial Advisors 05.11.2009

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    Networking With Financial Advisors 05.11.2009 Networking With Financial Advisors 05.11.2009 Presentation Transcript

    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
      • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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
    • 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