Aflac 2024 Updates with Family First Life (Video)

All right guys thanks for tuning in today we got a special guest today in the office um and I’ll give you a little hint see this little duck we got a special guest from afflac got my man Ward Garrett with us how we doing Ward I’m doing great how are you I’m doing awesome man thanks for coming up absolutely thanks for having me absolutely appreciate you guys um and fully transparent one of the reason you’re here is you are one of our carrier sponsors you help sponsor convention that’s a big deal for us um Ward because for so long you know we’ve really tried to keep the cost minimal there we didn’t charge AG this year will be the first year we actually do have a a price for the ticket but um with how I me you were at our event and this is a massive event so it really helps to have as many carrier sponsors as we possibly can so we appreciate you guys you know playing ball now with us um so here we are I know you have some fun stuff to talk about so I’m really just going to turn this over to you and let you kind of run through I mean aflac like I said been a great partner with us um and I was joking when you were here like you know do you bring any ducks and you did bring some ducks so absolutely we just have I don’t know if you guys can hear that but these are great so um but I appreciate you coming up so if you want to start going through what you have I know products are great the final expense has been phenomenal um but you know talk to us a little bit about the brand specifically I mean it’s a well-known name obviously why is that a big deal for our agents well I think that’s probably the one thing there are a lot of carriers out there in Fe a lot of great carriers with great products uh we feel like there’s a couple things about us that set us apart from everybody else and and it really starts with the brand yeah so in um in adults overage 45 our brand recognition is usually between 90 and 94% wow so that means uh when an agent walks in to meet with a customer 19 out of 20 of them have already heard our name they already know who we are before you ever walk in the door yeah and a lot of carriers out there we know them because we’re in the insurance industry and the Agents know who they are but the customers don’t correct and so that means the agents has to spend some time explaining who the carrier is trying to win their confidence on why they should put their trust in that carrier and and all that kind of goes away with us so right off the bat you saved yourself some time and whe whatever however long that takes an agent whether it’s three minutes five minutes or whatever to talk about the carrier yeah if it’s somebody that person hadn’t heard of all that goes away with us so so right off the bat they know who we are yeah and then the other thing is you saw with our a little friend the duck there yeah you say afflac and people are going to smile you know they might even quack at you yeah exactly how often does that happen you say afflac and someone quacks absolutely prob at least two or three times out of 10 yeah bet they’re GNA quack at you so so um so right off the bat you uh not only they know who we are but now you’ve really lightened the mood and set up uh the stage for a great conversation with that person it’s very you put them at at ease it’s very relaxed you know atmosphere so which which is pretty powerful you think about you say say one word and all of a sudden everybody’s laughing and smiling and now you know you’re set up for a good conversation right right absolutely and then uh the agent can uh basically barter on our brand uh for credibility for his own credibility yeah so we all know again that uh agents can get appointed with any carrier they want we know that but the consumer doesn’t necessarily know that and so uh for an agent to say I represent afflac or I’ve got afflac in my portfolio now again our brand is EXT ending to the agent and giving them credibility as well sure so that that’s a lot uh right off the bat just from saying the word afflac yeah you speed up your presentation which hopefully means you can do more presentations in a day yep uh you’ve set the mood for a great conversation and you’ve establish credibility yourself all from from just saying the word afflac and and introducing our brand right and that’s a huge part of it right the brand awareness number one um and it’s funny you say like 94% I don’t know that I’ve met anyone that doesn’t know you know I’m like I’m how’s it not a 100 who does not know who afflac is I met a guy last week who said he’ never heard of afflac somebody brought him over to our booth I was at a different conference I finally found somebody that doesn’t know AFF and he was from Canada though which makes sense because we in can say he’s from here he’s lying I know I think so too I’ve never met the person that doesn’t so but that’s half the battle right where like you got to have a good you also have to have a good product right right and that’s that’s a big piece with us when we you know look in I mean because you imagine we’ve been around for over 10 years we do a lot of volume we get calls all the time from carriers some that are well known some that are not and everyone one’s trying to you know sell our product a lot of times the comp doesn’t make sense but then a lot of times the product just doesn’t make sense you have to have a good product to back it up because the brand awareness is only going to get you like your foot in the door if the product doesn’t make sense then I mean it’s a done deal right so talk to me a little bit about the final expense product and why that’s so huge so uh first of all we when we decided to get in final expense at afflac we knew that was a new area for us we hadn’t done that before so we wanted to partner with somebody that was already in the space so we partnered with Etna okay and so the the product is absolutely an athe product it’s we’re the carrier it’s on our paper but we partner with them to do all the back office so if you’ve ever written a syo or uh the Fe plan it’s the same e process that I hear continue to hear rave reviews about the agents about how easy that is same underwriting which they enhanced last year with now the real-time decision underwriting so now you’re going to get a point of sale decision about 98% of the time wow uh so you’ll get a yes or no I had an agent one time tell me I’d rather get a no than a maybe I don’t know what to do with a absolutely and so we took that to hard and and the ET team worked real hard to come up with a way where now you get a yes or no about two-thirds of the time and and then the other third they ask you a couple additional questions that allows them all the Mayes can now be resolved by a couple of extra questions and so now you get again it’s right there yeah that that that’s so big Ward because I mean you mentioned earlier you can be contracted with several carriers and most of our agents are so you know if they’re leading with aflac and you get a maybe then you’re kind of in limbo you like if we can’t go aflac we’d love to but then now we we know we can’t then we have other products and it’s usually it’s it’s a risk factor that you are guys are not willing to take there’s other carriers that do but then you can shift over but I agree the it’s you know that old say mo is Lost in You Know indecision and wrong decision kind of same thing with the the um policies like if your client’s in limbo waiting you you have a short period of time to be able to help this client right if I got to go back three or four times and oh you know get another paper sign they’re going to do another check we’re gon to get some doctors rep a lot of times your client they don’t have the patience for that they they go you know what forget about it not in this day and age when things are so easy to do yeah y absolutely um what else on the product word so uh up to 50,000 face amount yeah uh have preferred standard modified pricing uh the modified has return of premium for two years okay uh ages are 45 to 80 got it um so those are kind of the basics the standard is add a full death benefit and just like a slightly higher premium yeah preferred if use AC underwriting you get a preferred rate got it if you got a couple of hiccups you go standard and that’s full face amount uh and then modifies is still full amount for accident got it but if it’s uh other than accidental death in the first two years you get your premium back with interest but uh after two years then it goes to the full face amount wow um so we talked about two things brand awareness the product right another big um focus of ours lately has been quality of business right because if I write 10 cases where in eight fall off the books yeah I’m I wrote two cases right you know I wrote x amount yeah but how many stayed on the books and they could fall off the books for multiple reasons one maybe the product’s too expensive maybe you didn’t write the right product you know maybe someone came in and offered them something better different who knows what but quality of business is a big piece what what is the qual from family first life standpoint what is the quality like you you may you gave me a stat before we started here um what what was that so uh at the convention this year I had an agent come up to me and he said hey man I love your product and I have other I have other agents telling me hey man you could make more comp on another product yeah and but I write yours and they make fun of me and they said why do you do that and he said because it sticks yeah so I decided to look him up so I looked up and of all the business he wrote that got to active premium paying status yeah 89% are still in the books wow and I thought okay maybe he’s an anomaly right so I decided Well let’s look at the top dog so our top producer within FFL for alac is Harold Dono Harold I love Harold great job Harold so he’s number one yeah uh 84% wow so going back to going back to 2022 when we first launched yeah all the policies he were written that got to active premium paying status yeah 84% are still in the books wow and then I thought you know what let me let me see if those guys they may be excellent agents and and they’re probably pulling up the curve or whatever let me look at the whole thing so I looked at all of FFL so every FFL agent that’s written a policy since 2022 yeah of all the ones that got to active premium paying status 79% are still in the books wow that’s strong so again the brand the combination of brand and value uh pricing so again we didn’t our intent was not to be the highest comp plans there are a lot of high comp plans out there if that’s what you want that’s great go for it absolutely but uh but having uh lower comp allows us to have a lower price so we’re very competitive with the other brands in space so our combination of brand and price you know we feel like will allow you to close more and it’s going to stick and now the numbers are beginning to show that as well so and the thing is where there’s enough business to go around you know a lot of carriers come up here and they want everything it’s like you don’t want everything trust me ask you do not want everything you want a we do so much you just want a piece yeah you know but there’s enough out there and there’s so so many our clients are so diverse you know so not everyone’s going to fit into the same bucket so that’s why it’s nice to have you know a handful of carriers to go through and your you know lead with wherever you’re going to lead to but that’s always not going to work out so have a backup have another op option um and there are some clients you’re going to meet with that are going to be chasing price not all of them yeah but it’s always nice to have a product where when you know that’s the circumstance and hey I can lead with this you know um and the fact that it sticks I mean that’s a huge piece like I said you’re right in 10 and eight or fall off the books then you wrote to and and now and but and there it’s a lot deeper than just okay your policy canceled you’re not getting paid those are also clients that are now not covered yeah and I believe we got one shot in the house a lot of time you go go out there once client dealss with the agent maybe they have a great experience maybe they don’t the odds that they’re going to have someone else come back in I I think that it it it that percentage drops down every single time and you got if we have the right products we can do right by the clients the first time we’re in the house and to your point it will stick and then you build a client for life right you know anything else you want to touch on as far as that FL goes word well there’s one other advantage that we’ve got that that uh nobody else has at least to the extent we do and that’s because the uh the kind of the halo effect of our core business so we’ve been writing voluntary plans at the work site uh for over 65 years okay so over the years we’ve insured tens of millions of Americans and today we’ve Pro we’ve got our products offered at the work site for hundreds of thousands of us businesses so again when you talk to somebody about afflac chances are they may have had one of our accident critical illness plans in the past or they know somebody that did yeah and so and if they filed a claim we we are no we are adamant about being excellent in paying claims and so we have great track record and great reputation when it comes to claims payment because we know as great as our friend the duck is yeah you it doesn’t get better than somebody raving about how well you paid their claim exactly so if they had our plan or they know somebody had de our plan especially if they Ved a claim they’ve already got a great perception of afflac again before you ever even walk in the door yeah absolutely well um believe it or not I had an afflac plan in a different life years ago I was at construction and we had a guy come in and and um you know walk through all the the benefits and for what we got and the price this is a no-brainer and we had a guy who got hurt on the job site and filed a claim got paid out the whole deal so I I saw it firstand yeah um many moons ago but um great product so I really appreciate you doing this appreciate you taking the time to come out here um everyone can see you at convention next year I would imagine yes I’ll be there I also be on the uh agent trip this you on the Cru we’re on the crew nice that’s right you guys are crew sponsor as well so um yeah so qualify for the crew so you can hang out with Ward and the aset crew yeah appreciate you coming up Ward really do appreciate everything you guys do for us um guys if you’re not contracted with afflac get contracted now it’s a great final expense product great to have your portfolio and the points will count towards your cruise qualification so there you go right um but appreciate you appreciate affl guys thanks for watching we’ll see you soon thank you [Music]