Episode Summary
In this Broker Link podcast episode, host Gillan welcomes guest Chris Newberry to discuss innovative ways to "insure your love" and provide lasting value to loved ones this Valentine's Day through life insurance and other financial products.
The episode opens with Chris explaining that Valentine's Day presents a great opportunity to show commitment to your significant other or family by purchasing life insurance. Though non-traditional, it provides long-term benefits and security versus temporary gifts like flowers, candy, or cards.
To illustrate the importance of coverage, Chris shares a tragic real-life example of a friend who died unexpectedly without having life insurance. Though successful in his career, he left behind his stay-at-home wife and young, school-aged children without protection. The family has been financially devastated, and forced to alter their lifestyles dramatically. His wife has had to scramble to re-enter the workforce as the new breadwinner. And they may even lose their home due to the lost income.
Chris emphasizes how life insurance could have safeguarded this family's future by ensuring they could maintain their lifestyle even after the devastating loss. Having adequate coverage provides peace of mind that loved ones will be financially secure if something happens to the policyholder. Though the payout is not seen during the policyholder's life, it's critical protection for those left behind.
Many consumers have term life insurance, which provides affordable coverage for a set period of time. Chris notes term policies often have conversion options allowing policyholders to switch to permanent insurance later without new underwriting. This enables them to lock in preferred health rates from when they first obtained coverage - even if their health profile has changed over time.
Importantly, Chris explains that agents can get full commissions on such term conversions, even if they weren't the ones who originally sold the policy. The Brokerage provides resources to help agents market life insurance policies as Valentine's Day gifts.
Beyond life insurance, Chris notes the Brokerage is expanding its financial services offerings to also include disability, long-term care, and annuities. With recent stock market volatility, many nearing retirement are seeking annuities to provide guaranteed income. The Brokerage offers a turnkey annuity service to seamlessly transition 401(k) funds into annuities.
Unlike other marketing organizations that provide little beyond commissions, Chris stresses the Brokerage's full-service model. Their case management team handles requirements and paperwork, enabling agents to focus on sales. With quote engines, learning opportunities, and a team ready to answer agent questions, the Brokerage empowers agents to grow across insurance product lines.
In summary, this Broker Link episode provides insights into presenting life insurance and other financial products as meaningful Valentine's Day gifts. Listen to the full podcast for additional tips on "insuring your love" and giving loved ones long-term financial security this holiday and beyond.
Timestamps
(0:00:00) - Broker Link podcast features special guest Chris Newberry discussing insure your love
(0:00:51) - If you don't celebrate Valentine's Day or ensure your love, things can go wrong
(0:07:08) - You're trying to expand in some other life products this year
(0:08:59) - A lot of term products have a conversion option on them
(0:13:02) - Life insurance, long-term care. All of those options are still available
(0:18:34) - Life insurance is an important asset, and there are reasons people might not need it
(0:20:39) - It's hard to recruit people to sell MLM herbal life insurance
