Ernie Call Review 03/07/23

00:00:02:22 - 00:00:18:04

All right. So, Sarah, Jennifer, this is the call that I made this morning, so I'm glad I was able to get into a presentation early just so you guys can hear how I present. Um, because I do have a ton of stuff to do later, so. All right, guys. Sarah? Sarah? Jennifer. You guys ready?

00:00:18:14 - 00:00:20:01

Yes. Okay.

00:00:21:18 - 00:00:25:09

Oh, there we go. Okay. This is just the calls that was making.

00:00:42:20 - 00:00:47:16

Let me know if you guys want to pause it or, you know, any questions you guys have throughout it.

00:00:50:23 - 00:00:51:14

Hello?

00:00:52:04 - 00:00:55:13

Hey, Frank. How's everything going out there in Marshfield today?

00:00:56:10 - 00:00:57:08

Okay.

00:00:57:13 - 00:01:27:16

That is good to hear. My name is Ernest over here at Senior Life Services. The reason for my call is you had spoken with one of our reps a while back regarding state regulated life insurance programs for Wisconsin. And my job is to go over those benefits with you and also answer any questions that you have. So, Frank, always verify info to make sure that everything's correct. I have you at 903 North Walnut Avenue in Marshfield. Yep. All right. And then date of birth of 122 1948.

00:01:28:10 - 00:01:46:11

Yep. All right. So back then. Don't know how long ago this is. It looks like it could be, like three months. You're looking for around 20,000. You're a non-smoker, and I understand that you wanted your son as your beneficiary. Is all that correct? Yep. Okay, perfect. And you like fishing? Any particular fish you like going after?

00:01:47:07 - 00:01:48:07

While. Eyes.

00:01:48:21 - 00:01:51:13

Wall eyes. Yeah. What? What led to you? Fashion.

00:01:52:17 - 00:01:55:12

I fish on big old Plain Floyd.

00:01:55:20 - 00:02:07:04

Okay. Like, my dad is from Oshkosh in Wisconsin, but that's not where I grew up. I grew up near Lake Erie in Michigan, so we got to do a little bit of walleye fishing. Mostly perch, though.

00:02:08:10 - 00:02:09:15

Is there any perch there?

00:02:10:20 - 00:02:12:02

There are some perch in that lake.

00:02:13:00 - 00:02:13:15

Yeah.

00:02:14:24 - 00:02:26:03

I mean, they're small, but if you catch enough of them, you can have a nice fish fry. So that's how has looked at it. Um, all right. So, Frank, your son is the beneficiary. What is his name?

00:02:27:17 - 00:02:29:23

So, guys, on that, like, um.

00:02:31:11 - 00:02:50:15

So if you if you listen to like building rapport and stuff like I don't you don't want to spend too much time and get them down like a path. Like, I'm not going to keep talking about fishing, but I do want I do want to talk enough where, you know, just to get them off that a little bit. Okay. Does that make sense? Like, okay, let's talk about fishing for a second. Okay. We're off that. Let's move on.

00:02:52:12 - 00:02:53:04

Yes.

00:02:53:14 - 00:02:58:22

Because it's like two minutes. That's what I try to put in my head, like two minutes, you know, let's go off track for a minute, but then let's get back to it.

00:03:00:02 - 00:03:00:20

Terry.

00:03:01:02 - 00:03:32:02

Terry. Terry. Yep. Okay, perfect. And. All right. So we are a consultant for Frank, which means we represent our clients and not one particular company. So our goal is always to figure out specifically, like, who would give you the best rates and benefits You with me on that? Yeah. Okay. And, Frank, are we are we looking just for yourself or for you and somebody else? Myself, okay. And this is the type of business that you typically handle yourself. Yeah.

00:03:32:06 - 00:03:39:18

Okay, perfect. So Tara is the beneficiary. Would this be a first policy for you or would this be looking for additional.

00:03:40:16 - 00:03:41:15

Additional.

00:03:41:18 - 00:03:51:13

Gotcha. Okay. So is there a number specifically that you're trying to get to are like, are you trying to get to 20 K total or what are we what are you trying to accomplish?

00:03:51:21 - 00:03:54:09

Well, let's try 20 K.

00:03:54:18 - 00:04:02:03

Okay. So we're adding to something. So don't want to go overboard. How much coverage do you already have?

00:04:03:03 - 00:04:03:18

Ten.

00:04:03:20 - 00:04:08:10

Ten. Okay. So getting to 20 would be good, but getting to 30 would be even better.

00:04:10:06 - 00:04:10:24

Oh yeah.

00:04:11:06 - 00:04:11:21

Oh, yeah.

00:04:12:14 - 00:04:14:06

Want to get to a million? It's like, why not?

00:04:15:02 - 00:04:17:06

Yeah. So, uh.

00:04:17:15 - 00:04:22:15

So that's really important. I spent a I get answers to those questions. Those are important to me.

00:04:26:10 - 00:04:27:15

You guys with me on that?

00:04:28:06 - 00:04:28:23

Yes.

00:04:29:07 - 00:04:48:20

Okay. Because, like, if if if I don't know what this goal is, if I don't if if he says, oh, don't you know, think ten is enough, then okay, then we have we don't have much to talk about. But if he has a goal in mind getting 20, getting a 30, then I can proceed. So everything is like, you know, just selling him on each individual section of the presentation.

00:04:51:14 - 00:05:04:17

And guys will warn you later on. I do break a rule, but that's because I wanted like just happened to work out like, okay, Jennifer wants to hear me dial. So I just broke the rule so I can keep going. You'll find out soon. You let me know, Jennifer, when I break that rule.

00:05:05:09 - 00:05:06:08

Okay? We'll do.

00:05:06:18 - 00:05:30:02

Okay. And, Frank, um, like, have you ever gone through the process of taking care of somebody else's burial? No. No. Okay. So is the goal here? Like almost everybody I talked to, Frank's goal is they are trying to alleviate, of course, the burden because when they pass, you know, that's expensive, but also trying to leave a little extra. So like, what is the primary goal here?

00:05:33:00 - 00:05:38:21

Well, I guess to bury me and then they have some extra.

00:05:39:03 - 00:05:47:16

Gotcha. All right. So 10-K, you were born in 48, so my math is correct. You are 72 or 74. Sorry.

00:05:48:08 - 00:05:48:23

Yeah.

00:05:49:00 - 00:06:08:13

All right. 74 years old. I'm just looking it up and see exactly what they recommend based on the Social Security Administration. So got thrown off a little bit because I was looking if you guys saw me behind me, I was looking for one of their applications and we don't have any. So I printed some out. So that's why I'm writing a couple of things down.

00:06:11:03 - 00:06:46:21

All right. All right. So based on everything I'm looking at, I would definitely recommend a whole life policy at 74 terms. No longer makes sense. So all of our plans will offer a number of benefits. So first, like, we only work with reputable insurance companies, so we've actually quickly growing company and we've actually made insurance companies design products specifically for our customers unique situations. So they have to be state and friendly, regulated and they have to be backed by the government and they also have to be state approved, whole life plans, which means the premiums never go up and the benefits never go down.

00:06:46:23 - 00:07:05:20

And this just makes sure that Terri doesn't have to come out of pocket for that. And, of course, hopefully you have a whole life already. So it should pay out 100% tax free. And unlike most companies, it's going to pay out immediately. And of course, we do require that all companies have an A-plus rating with the Better Business Bureau. You follow me so far on all that?

00:07:06:13 - 00:07:07:03

Yep.

00:07:07:05 - 00:07:32:12

Okay, perfect. If this is what we really want to hammer home. So if you guys follow the script exactly like it's enough. It's enough that you're saying that and you're, you know, just leading them along, like saying a bunch of extraneous stuff, and most of the time, like, it's not really going to help you because I'm not trying to confuse this guy. I'm just trying to present the plan in a way that he'll understand and get the agreement that, you know, he wants some more coverage.

00:07:33:20 - 00:07:35:14

Right. Okay.

00:07:36:00 - 00:07:41:17

Perfect. All right. So you have 10,000. Is that something you set up a long time ago or has that been pretty recent?

00:07:43:06 - 00:07:45:05

Oh, ten years for sure.

00:07:45:07 - 00:08:11:16

Ten years. Okay. All right. Anything you got ten years ago. So you're definitely don't want to look at replacing that simply because anything I find today should not should be more I mean, honestly, should be more expensive than anything you got ten years ago. Yeah, but I think you already know that your 64 is like prices are different for 64 year olds than 74. And how much do you know the name of the company that you have that with?

00:08:12:15 - 00:08:13:16

No, I don't.

00:08:13:18 - 00:08:14:08

Okay.

00:08:14:14 - 00:08:27:02

Something. Ten years ago, he probably just put it in a drawer and it sits there and waits to pay out when you pass. Huh? Yeah. Okay. And that's fine. So what are you paying each month for that? So I have something to go on here.

00:08:27:18 - 00:08:28:20

49.

00:08:29:09 - 00:09:02:23

Okay. 64. 10,000. All right. That seemed like an unreasonable rate for a 60, you know, 64 year old. So that's good. And it could have been even longer than that. So let me see here, 69 or 49. I'm sorry. All right. The only reason I'm saying that it could have been longer than that. It does seem like it would be longer in that 49 seems had to look, but, uh, seems a little low for 10,000 or 64. So I just wanted to manage his expectations because a lot of this will be managing expectations, adding coverage.

00:09:03:00 - 00:09:36:10

You always got to add or manage the expectations, especially if they've had a long time, because if they've had it for if they've had it 20 years, then I've got to make I'm basically about to tell this guy, whatever you have, then this is going to be more expensive because I want like, Oh, I do not. I hate hearing that because they sound stupid. Like, Oh, well, I only pay this so I want it for this. It's like, no, we're going to get rid of those expectations as quickly as possible because if you've had it for 20 years ago, you know, if you're adding this, then of course it's going to be more expensive unless you have the worst company in the world that screwed you 20 years ago.

00:09:37:22 - 00:09:38:12

Right?

00:09:42:03 - 00:10:12:09

All right, So now that I know like, exactly what you're trying to accomplish, Frank, what I want to do now is take the time to ask you a few health questions. So whenever you look at life insurance or policies that pay for final expenses, you always want to be asked health questions because it does allow you to get a better plan and a better rate. So I'm sure, Frank, did you have to go through like a little interview with that 10,000, like ten years ago? And it's okay if you don't remember. Okay. Was it simplified? Okay. So no interview. That's good.

00:10:12:12 - 00:10:20:03

And was it guaranteed issue like they would give it to like Colonial Penn or something? Like no health questions, Nothing like that.

00:10:22:00 - 00:10:23:10

Yeah. Okay.

00:10:23:12 - 00:10:39:09

Because we might end up there. But if we can find even better, of course we're going to do that. So I have been doing this a long time, so I don't need to read every question off of every application. Like I know what company is going to be best simply by asking a few general questions. Does that sound fair enough?

00:10:40:04 - 00:10:42:03

Yeah. Let's make her quick, though.

00:10:42:05 - 00:11:00:16

Not a problem. All right. Let's start with the basics. Already know you're a nonsmoker. Is there anything major going on with your heart, lungs, liver or kidneys? Nope. Love to hear that answer. Love to hear. All right. Any diabetes at all?

00:11:01:14 - 00:11:02:04

Yeah.

00:11:02:10 - 00:11:06:11

Okay. Are you taking, like, metformin or you also taking insulin?

00:11:07:05 - 00:11:08:01

Metformin.

00:11:08:07 - 00:11:10:10

Okay. No. No insulin ever?

00:11:11:01 - 00:11:11:16

No.

00:11:12:00 - 00:11:18:08

Okay. And if they ever given you any medication called Gabapentin or Lyrica.

00:11:20:03 - 00:11:27:05

Yeah. Gabapentin. I was taken for a while, but. I'm off on that now.

00:11:27:13 - 00:11:31:15

Good. Did you have the diabetes? Cause a little bit of neuropathy.

00:11:32:15 - 00:11:33:21

Yeah. Gotcha.

00:11:33:23 - 00:11:37:22

So you had a little the like my grandma has. She had some numbness and tingling in her hands and feet.

00:11:39:13 - 00:11:40:03

Not.

00:11:43:05 - 00:11:44:22

Is that what was going on with you as well?

00:11:45:12 - 00:11:46:12

Yeah, that was.

00:11:47:05 - 00:12:18:00

So you got to get answers to your questions. That's a logical thing to ask because you guys know at this point with Pioneer, it's not about the diabetes. It never is. It's about the insulin before 50 or any kind of complications. So just wanted to narrow that down so you'll see that very quickly here. I'm about to start pulling up standard rates later go to preferred for a reason but you know, standards seem really high. So at 64 he had to have been, uh, equivalent of preferred coverage.

00:12:18:06 - 00:12:19:09

I have a question, Ernie.

00:12:19:11 - 00:12:20:01

Sure.

00:12:20:07 - 00:12:42:16

So he said he was taking it but doesn't take it anymore. Mean obviously neuropathy is not reversible. But if he if it's been over like 3 or 4 years with the typical two and three year questions on the Pioneer app, will they still consider that he has neuropathy? If he's. No. If it's been years since he's been prescribed the gabapentin.

00:12:42:18 - 00:12:43:08

So yeah.

00:12:43:10 - 00:12:44:00

Actually.

00:12:44:13 - 00:13:26:19

Thought this was about to come up where I do cover that. So I'm always going to lean in there in their favor and try to do the best we can. Um, I had gabapentin come up for that policy, for that lady that called me, adding additional coverage on Tuesday, and I was worried it was going to be standard, but they ended up giving her preferred even though she has diabetes too. So gabapentin rotten. If you guys are unaware it can be taken for other things. The problem is if they also have diabetes Pioneer most of the time is going to think that it was diabetic neuropathy, not necessarily something else because you know gabapentin and Lyrica don't matter at all if they don't also have diabetes.

00:13:27:21 - 00:13:58:14

So so there's been I mean it's, it's underwriting. So there's no perfect answer to everything. Like technically if somebody was taking gabapentin before they were diagnosed with diabetes, then they were taking it. You know, it's obvious that they were taking it for a different reason. And that can be explained. So this guy was like, ok