- Hey everybody, welcome back to another eddition
of Selling Life and Annuities.
I'm Rebecca Gordon here with my team,
Paul Bechtold and Randy Pierson.
(upbeat music)
- Hey thanks Rebecca.
Today we got Paul here and you're probably already aware,
Paul is our manager of the Your Family Bank Program.
One of the most successful programs
that we've brought to agents here at Gordon Marketing.
And you know Paul,
when we've talking about the Your Family Bank Program
in many instances, you liking it,
or you kind of tell a story
about a goose that laid the golden egg.
Can you explain, to our agents,
kind of what you mean when you use that phrase?
- Well sure Randy.
Actually, I came up with this concept
about six, eight weeks ago.
And what I was trying to do is encapsulate something
that every agent and client, alike,
could understand very quickly and concisely.
And the analogy goes like this,
if I had a goose that laid golden eggs
and it cost $100,000 a year
to feed and maintain that goose
and every year that goose laid eggs
that were $10,000 of value each.
Golden eggs, right?
And the first year it laid six eggs
but every year there after it laid two more eggs.
And that goose would never die in your lifetime.
And, by the way, when you did die
it will lay hundreds of gold eggs.
Rebecca how many of those geese would you want to buy?
- Lots.
- Okay.
- Sign me up.
- So the universal answer is usually,
"All that I could afford."
Right? - Yeah, yeah.
- And so it quickly analyze or gives it an analogy
of exactly what we do with Your Family Bank.
Because it's no more difficult than that.
What we've found is that most agents,
they want to disect it
and they want to do as what you like to say, Randy,
they want to know how a clock is built, right?
- Right.
- And what I want to get them off of so much
is not how the clock is built,
but get to the result that we want.
Which is, what?
Helping people get out of debt.
- What time it is.
- Or what time it is, right? - Right.
- So in your analogy the golden eggs are what?
- The golden eggs are the cash
that we have available to borrow from the policy.
- The dollars, yeah.
- Yeah, and those dollars are very valuable
because with YFB what we're doing
is we're giving our dollar to your jobs, okay?
We're earning compound interest
inside of that life insurance policy.
And we use life insurance not because it's life insurance
but because of the characteristics that it has.
It has a lot of characteristics
we want to take advantage of.
- So I think most of the life agents,
who are watching this video,
recognize that cash coming out of a life insurance policy
is, generally speaking, received tax free.
In the Your Family Bank Program
are we still taking those dollars out tax free?
- Correct.
We're getting compound interest inside of the policy.
So we're giving our dollar two jobs.
Getting compound interest,
and have the ability to take
tax free loans from the policy.
But at the same time,
the interest is being gained inside the policy,
uninterrupted, and it's tax free as well.
So we avoid the taxman all away around.
- Excellent.
- How does an agent get set up in this program?
What are the steps?
Because what you're saying makes a lot of sense.
I still am thinking of a goose,
and a lot of golden eggs.
So what do they do?
- Well the first thing is they express some interest.
I send them an introductory email.
As showing them what it does for individuals and families.
What it can do for businesses,
and what it can do for them as an agent, as well.
Once the express interest say,
"Yeah I want to move forward."
We get their contracting kicked off.
And then what we do, uniquely at Gordon Marketing,
is we have the ability to do a sample case for them
before they even really have to dip their toe in the water.
- Perfect.
Just to see.
- Yeah. - Just to see what it can do.
- You know, in the insurance business
and particularly in the life insurance business,
lot of programs that are promoting out there
can get rather complicated.
Is the Your Family Bank Program complicated
or difficult to market and or sell?
- No, actually that's one of the beauties of it.
It's track to run on.
It's a platform.
And it's very simplified.
It's a paint by numbers program, so to speak.
So all they really have to do is learn to ask,
really one simple question,
"If we could show you how to get out of debt,
nine years or less, without spending more money
would you want to know how?"
And then get some financial information
from the client, and we do all the heavy lifting from there.
We first can show them how to do it,
and then later on we can show them how to do it.
How to design their own cases and be self-sufficient.
- Is there a boot camp
or a class that an agent attends for this program?
- Yes there is. - okay.
- There's a suit certification boot camp
in St. Augustine, Florida.
We've been fortunate enough that,
you know last year we had one here in Indianapolis,
we're going to have one at the Mutual Trust Home Office
in Chicago this year.
- Oh super.
When will that be?
Do you have a date?
- March 26th and 27th.
- Awesome, so if you're in Chicagoland
put that on your calendar
and make sure that you hit us up in the comments
so that we can get you registered for that.
March 26th, 27th.
- Absolutely, we can send you the details
and a special invitation.
Make sure you mention,
if you reach out to Paul directly,
that you saw this video,
and we have a special offer that we can make to you
in regards to your boot camp attendance.
So make sure you ask Paul about that.
And Paul you know you told me an interesting statistic,
earlier this week,
with regards to our increased production
with regards to the Your Family Bank Program.
Would you mind telling the viewers how impactful
the program has been to agents?
- Well, Randy, this time last year
we had about 50 agents that were head of YBF portal
and were doing business with us.
We're now approaching 200.
- Oo, nice.
- In 2020 we're looking to add another 250 agents
and we grew our revenues and our production
by 150%.
- Awesome, congrats.
- Absolutely, and if you want to be one of those 250 agents
that can take advantage of this program
and take your life sales to the next level,
make sure you reach out to Paul Bechtold,
make a comment below this video
and we'll make sure we reach out to you.
But with that, I want to say thanks to Rebecca and Paul.
Thank you for tuning in to Life Insurance Selling
YouTube channel.
We'll look for you the next time.
Thank you so much.
- See you.
- Have a great day.
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