#042: Provisions Of A Voluntary Benefits Policy

Tim Martin and Steve Savant - Part 3

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I recently appeared on Steve Savant’s Money, The Name of the Game. This is episode 3 of a 5 part series regarding Voluntary Benefits. Below are excerpts from the press release announcing this episode. You can listen to the audio as a podcast or watch the video that appears at the bottom of this page.


Press Release

There is a myriad of choices for the consumer to choose from when it comes to Voluntary Benefit policies. Understanding the things to look for will help dramatically, especially at the time of claim.

Not all Voluntary Benefits policies are created equal. As consumers are becoming more aware of the need for Voluntary Benefit protection, they are often overwhelmed by the myriad of insurance policies they have to choose from.

Regardless of the insurance company, the following features are critical in evaluating whether or not to purchase a policy:

Guaranteed Renewable – An incredibly important consideration is whether or not the policy is guaranteed renewable. If it is the insurance company can’t raise your rates or drop your coverage just because you are making claims. This is unlike auto insurance where the insurance company will do just that. Most Voluntary Benefits insurance companies reserve the right to raise rates, but they must treat every customer that owns that policy equally.

Underwriting – A majority of Voluntary Benefit policies require just a few questions to determine eligibility. Very rarely do they ask for medical records or blood work. In fact, under certain circumstances, the policy may be “guaranteed issue.” In other words, regardless of medical condition, you can’t be turned down.

Portability – Most (not all) Voluntary Benefits programs are purchased through a payroll deduction. It is important to you know when you leave employment that you have the right to keep your coverage.

Exclusions & Limitation – Without exception, every insurance policy in America has certain exclusions and limitations. It is important to check that they are reasonable. What constitutes reasonable? That’s up to you. For instance, most accident policies won’t pay if you are legally drunk at the time of the accident. They also won’t cover you if you hurt yourself in the commission of a felony. For most people, those are examples of reasonable exclusions and limitations.

Look-back periods – Even though a policy might be guaranteed issue, that doesn’t mean you will necessarily be covered. A great example would be that even though you were allowed to purchase a cancer policy if you currently are battling cancer, the company won’t start paying claims on that occurrence for a period of time.

Building Benefits – Some policies have benefits that increase in value the longer you have the policy. This feature often necessitates a nominal additional cost. Most consumers agree that the cost of the building benefit is incredibly helpful.

Return of premium – One of the biggest complaints of consumers when purchasing insurance is the fact that they may never need it. With a return of premium feature, if you don’t make a claim over an extended period of time you get all of your money back when the policy terminates. This ability also usually requires an additional cost, but many consumers gladly purchase this option, knowing they are eventually going to get back every penny they paid over the lifetime of the policy.

Ability to upgrade – Your life changes. Can you change your policy to reflect that reality? Some policies have the ability to make changes to increase the benefits available. It is important to know that your policy can keep up with your life.

Consumers have more choice in Voluntary Benefits than ever before. Make sure that you make the right choice to protect your family from the devastating financial realities that often ensue following a serious accident or illness.



Thank You For Listening

I really appreciate you listening to the podcast and would love it if you would be so kind as to rate the podcast on iTunes.  To do that, all you have to do is go to http://successisvoluntary.com/iTunes and follow the instructions.  It will take you less than 30 seconds and would be a huge help to me as it will keep the podcast towards the top of the business charts in iTunes which will help new people discover it. And don’t forget to give it some digital love. Please share on Facebook, Linkedin, Twitter, or anywhere else you hang out in the social media universe!

I look forward to seeing you back here next week, in the meantime, don’t forget that everything you do in this business is voluntary.  Including success!!!

#041: The Basic Types Of Voluntary Benefits

Tim Martin and Steve Savant - Part 2

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I recently appeared on Steve Savant’s Money, The Name of the Game. This is episode 2 of a 5 part series regarding Voluntary Benefits. Below are excerpts from the press release announcing this episode. You can listen to the audio as a podcast or watch the video that appears at the bottom of this page.


Press Release

Once the consumer is ready to sit down with a Voluntary Benefits agent, they need to understand the types of policies that may be available and how they might fit their needs.

Disability – This is the easiest Voluntary Benefits policy for most people to understand. Disability pays the policyholder if they are unable to work due to an accident or illness. Most financial planners recommend that their clients protect their most important asset; their ability to earn an income.

Accident – The most popular Voluntary Benefits policy for many insurance companies is their accident plan. These programs usually cover everything from cuts that need stitches to major accidents needing an air ambulance, and everything in between. The benefits are tied directly to the seriousness of the accident.

Critical Illness – These policies are very customizable based on the client’s needs. The customer can purchase a policy that covers just one type of critical illness such as cancer. There are also critical illness policies that cover multiple serious issues such as cancer, heart attack, stroke, parallelization and other conditions.

Life Insurance – LIMRA, which is a worldwide research organization, that for 102 years has kept a pulse on the Life Insurance market, published a study in 2016 that found 56% of American households don’t have life insurance. More alarmingly over 50% of those that had life insurance recognize the need for more. Overall, 7 in 10 of all households said they would have trouble covering everyday living expenses after just a few months if the primary wage earner died.

As a consumer, you need to make sure that you protect your family from the devastating financial realities that often ensue after a serious accident or illness. To make sure your family is protected you must choose the right policies for your family.

 



Thank You For Listening

I really appreciate you listening to the podcast and would love it if you would be so kind as to rate the podcast on iTunes.  To do that, all you have to do is go to http://successisvoluntary.com/iTunes and follow the instructions.  It will take you less than 30 seconds and would be a huge help to me as it will keep the podcast towards the top of the business charts in iTunes which will help new people discover it. And don’t forget to give it some digital love. Please share on Facebook, Linkedin, Twitter, or anywhere else you hang out in the social media universe!

I look forward to seeing you back here next week, in the meantime, don’t forget that everything you do in this business is voluntary.  Including success!!!

#040: The Need For Voluntary Benefits

Tim Martin and Steve Savant - Part 1

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Tim Martin and Steve Savant

I recently appeared on Steve Savant’s Money, The Name of the Game. This is episode 1 of a 5 part series regarding Voluntary Benefits. Below are excerpts from the press release announcing this episode. You can listen to the audio as a podcast or watch the video that appears at the bottom of this page.

Press Release

The true need for Voluntary Benefits hasn’t changed in the last 25 years. The perceived need is greater than ever due to the changes in major medical insurance.

The Affordable Care Act (ACA) and pressure on private health insurance plans have driven unprecedented change in the healthcare industry. Deductibles, co-pays, and co-insurance are skyrocketing almost as fast as the rates are. Many parts of the country have seen an increase of 50% or more for major medical premiums.

A 2015 Harvard study found that the leading cause of bankruptcies (just over 60%) was due to medical expenses. The surprising finding of this study was a majority of the people that claimed medical bankruptcy had medical insurance.

Most families don’t have the savings necessary to withstand the financial chaos while facing serious medical conditions. Often there is a double loss of income as a healthy spouse stays at home to care for the injured or ill spouse. When children are involved, the family comes to a standstill, but the rent, electric bill, and car payments keep coming due.

The financial strain can also lead to emotional damage. This is why many insurance agents talk about the triple threat of serious health conditions. The disease damages the body, the finances, and the emotions. A good insurance policy can’t fix all of the emotional damage, but it can at least ease the stress of financial worries.

Voluntary Benefit companies have helped people keep their creditors at bay for over 75 years. Often the real cost of a serious illness or injury is not the medical bills. Typically, after a serious accident or illness, family expenses skyrocket and income plunges. Most families are left with devastating financial challenges.

There is a myriad of Voluntary Benefits policies offered by a few dozen insurance companies. Most often these policies are purchased through an employer via payroll deduction.

Consumers can’t always protect themselves physically from serious accidents or illness. They can make sure that their family is protected from the devastating financial realities that often ensue. Most consumers purchase Voluntary Benefit policies to make sure that after a serious incident they can keep food on the table, gas in the car and a roof over their head.



Thank You For Listening

I really appreciate you listening to the podcast and would love it if you would be so kind as to rate the podcast on iTunes.  To do that, all you have to do is go to http://successisvoluntary.com/iTunes and follow the instructions.  It will take you less than 30 seconds and would be a huge help to me as it will keep the podcast towards the top of the business charts in iTunes which will help new people discover it. And don’t forget to give it some digital love. Please share on Facebook, Linkedin, Twitter, or anywhere else you hang out in the social media universe!

I look forward to seeing you back here next week, in the meantime, don’t forget that everything you do in this business is voluntary.  Including success!!!

#039: Gary Hoy – Jump In The Pool

The Water's Fine

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I think Gary Hoy and I are twins (fraternal) separated at birth. We live almost as far away from each other as possible and still be in the contiguous United States. He is in Buffalo, NY and I am in Phoenix, AZ.  Despite the difference in geography, we share many of the same experiences, beliefs and philosophies in sales and sales training.

Gary reached out to me last week to ask me some questions about the Success Is Voluntary website. He wanted to better serve his audience and loved what we are doing here.

The longer I talked to Gary (and it was a while… we both like to talk… lol) I felt that I had to get him in front of my SIV tribe. Gary speaks and trains sales people all over the country for fortune 500 companies and large associations. His almost singletary focus is on getting salespeople to  slay their fear of prospecting/cold calls.

I will warn you, this podcast is a little longer than usual (1 hour and 8 minutes.) Did I mention both Gary and I like to talk? I believe it is the best hour you can spend this week to build your business! As I was going through my notes, I realized that the number of topics we touched on may be a new record for the SIV podcast.

As always the notes I will share with you are quick bullet points. They will make much more sense once you have listened to the podcast. Check back here in two weeks and you will find a full transcript of our conversation.


Things Gary and I Talked About

  • Once you are in the pool your body adjusts
  • The hockey puck
  • Why Gary hates “best practices”
  • Training often becomes a sanctioned respite
  • Directions are meaningless to a parked car
  • Why people are petrified of cold calling
  • Magical scripts suck
  • You need to look where your car keys are
  • You can’t buy production
  • All growth begins with self-awareness
  • The first step is recognizing the fear
  • Why we “mother hen” our business
  • The law of detachment – The less you need something the easier it is to attain
  • We speak with words but communicate with how we feel about those words
  • In sales, failure is your friend
  • The mindsets people have to change about prospecting
  • How a spare tire overcomes call reluctance
  • If you know your why you can endure any how
  • Why “best practices” are dangerous in sales
  • Even the best tactics won’t get you started
  • You are never going to pop all the popcorn
  • Don’t play chess with your prospect
  • You must be willing to do it wrong until you get it right
  • People will come 100 miles to watch you burn
  • If a perfect script existed, there wouldn’t be turnover in sales
  • Sales people don’t ever quit because they have too many appointments
  • People who know how always work for the people who know why
  • Humility is necessary to all learning
  • The clear garden hose with red and blue marbles
  • Motivation wears off, so does a shower
  • Idea sex
  • The spectator always pays for the participant
  • Our love for

The Books We Talked About

As always, click on the cover to learn more.


Gary’s Incredibly Generous Offer For SIV Listeners

Gary has agreed (with a little coercion from yours truly) to discount his incredibly valuable training titled The 5 Phases Of Appointment Setting. The website address is http://www.appointmentu.com/ The usual price for his class is $197. Gary allowed me to go through the entire curriculum prior to his podcast appearance. I wanted to make sure it was the real deal. It is! Trust me! I have been doing this for 22+ years and a learned at Ton! As $197 it would be worth every penny. Gary slashed the price to $107 just for us! The coupon code is podcast1 (that’s the number one at the end of the coupon code.)

Just to be clear, I am NOT receiving a penny for recommending Gary’s course. I flat out believe it will help you. Gary is offering a 100%, money back, no questions asked, refund if you don’t feel the training helped you.


Thank You For Listening

I really appreciate you listening to the podcast and would love it if you would be so kind as to rate the podcast on iTunes.  To do that, all you have to do is go to http://successisvoluntary.com/iTunes and follow the instructions.  It will take you less than 30 seconds and would be a huge help to me as it will keep the podcast towards the top of the business charts in iTunes which will help new people discover it.

I look forward to seeing you back here next week, in the meantime, don’t forget that everything you do in this business is voluntary.  Including success!!!

#038: SIV Joe McCormick – Everyday Development

What are you doing to get better?

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I have been absolutely sold out to the idea of personal development for the past 25 years. My friend and mentor Les Heinsen (and two time SIV Podcast guest) told me many years ago, “All growth begins with personal growth.” I believe him.

Every now and then I meet someone that is as fanatical about personal development as I am. Joe McCormick is one of those people! Joe contacted me for the first time about two weeks ago due to a blog article I had written. We hit it off immediately and I was thrilled to get him on this week’s podcast. The more time I spend talking to Joe, the more I believe in his mission and the platform he is building. I hope you enjoy my conversation with Joe as much as I did!

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#037: SIV Bill Cates – The Referral Coach

Introductions eat referrals for breakfast

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Bill Cates picture

A good friend of mine, Eric Silverman recently introduced me to Bill Cates. I had read Bill’s book Don’t Keep Me A Secret several years ago so I was thrilled when Bill agreed to come on the podcast.

Bill has revolutionized the way sales professionals acquire ideal clients by adopting a proven process to generate personal introductions and communicate a more compelling value proposition. Bill is the author of three best-selling books: Get More Referrals Now, Don’t Keep Me a Secret, and Beyond Referrals. His newest book,

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#036: SIV Paul Freed – The Art of Recruiting

How to differentiate yourself and your opportunity

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Paul Freed

Did I Ever Mention That Success Is Voluntary?

That Includes Recruiting Success

I am very excited to introduce you to my friend Paul Freed. I meet Paul 5 years ago at a Michael Hyatt conference titled Launch. We had a lot in common and decided to start a Mastermind group with a couple of other guys we had met. The time we spent working together helped me to clarify exactly what I wanted my podcast and blog to look like. Paul’s insight and passion dramatically impacted my thinking and my business.

Paul is a named partner in Seattle’s premiere executive search firm. In other words he helps companies attract top-level candidates for companies like Starbucks, REI, Zillow and T-Mobile. He travels all over the world speaking about job search, recruiting and employee attraction. He is the only person I know personally who has given a TED talk. To say Paul is a power player is a major understatement. On top of all that, he is one of the nicest guys you could ever meet.


What We Talked About

  • Most people fall backwards into their career
  • The cyclical nature of business
  • Mixing your identity with your job title
  • How to not allow your job to define you
  •  You have value, meaning and worth regardless of how things are going
  • How his firm went from no revenue for two months and came roaring back to be the largest executive search firm is the Pacific Northwest.
  • The two questions you must nail on your job interview
  • How to benchmark your competition
  • Why most companies job descriptions suck
  • What to do about it
  • Recruiting is a sales and marketing function
  • Putting you best recruiting pitch into a 2-3 paragraph narrative and including it in the job description
  • Looking for candidates that are working and happy vs. job seekers
  • Organizations hire based on competency and fire based on culture
  • The importance of reading your job description out loud
  • Why video emails are so critical and can be your unfair competitive advantage
  • And other duties as assigned

The Four Books We Talked About

As always, just click on the covers below to learn more.

Book cover how to win friends

Platform by Michael Hyatt

 

 

 


Connect With Paul

Pauld would love to connect with you and help any way he can. To find out more go to his website:

http://theartofrecruiting.com/


Thank You For Listening

I really appreciate you listening to the podcast and would love it if you would be so kind as to rate the podcast on iTunes.  To do that, all you have to do is go to http://successisvoluntary.com/iTunes and follow the instructions.  It will take you less than 30 seconds and would be a huge help to me as it will keep the podcast towards the top of the business charts in iTunes which will help new people discover it.

I look forward to seeing you back here next week, in the meantime, don’t forget that everything you do in this business is voluntary.  Including success!!!

#035: Tim Martin – Personal Coaching

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I can’t tell you how overwhelming and humbling the response to the re-launch of the Success Is Voluntary blog and podcast has been! Your emails, phone calls, and comments on the website and Facebook have meant more to me than you will ever know.

One of the crazy, unintended, but gratifying side effects of the re-launch has been that several people have asked if I was available for personal coaching. The answer is yes I am, but only for the right person. Before we get into who I accept into my coaching program I want to tell you a story.


Tim’s Story

The year was 2011 and I was stuck. It you are a movie buff I would assume you have seen the classic movie “Groundhog Day.” I was so stuck in my career development that every day seemed like

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#033: SIV David Mead – Start With Why

How Great Leaders Inspire Action

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I don’t know about you, but I have had a handful of epiphanies in my lifetime that dramatically impacted my thinking, my business success, and my life.

Early in 2010, someone introduced me to a TED talk given by Simon Sinek that absolutely changed the way I looked at my life. I have always had a strong vision of why I was doing what I was doing, but I didn’t understand the importance of sharing my why with the people I was leading, including my own family.

The TED talk is titled How Great Leaders Inspire Action. It is the 3rd most watched video in the history of TED.com with over 37 million views. Shortly after the video was released, Simon released his first book titled Start With Why which expanded on the concepts he had laid out in the video. It was a runaway best seller.

I contacted Simon’s organization and they were gracious enough to offer to bring David Mead, one of their top trainers, onto the Success Is Voluntary podcast. David has been with The Start With Why Movement since almost the beginning. In fact he was working with Simon before the TED talk. David travels extensively all over the world speaking and helping organizations instill a Start With Why culture.


The 13 WHYS David And I Talked About

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#031: SIV Tom Hopkins

Tom delivers once again.

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Tom Hopkins

When I relaunched the Success Is Voluntary blog and podcast this January, one of the first congratulatory emails I got was from Tom Hopkins. Tom had been a guest on the podcast 4 years ago and his episode still holds the record for the number of downloads of a SIV podcast (just over 4,500.) In his email he asked me if I would like to have him come back on the podcast. I was stunned and incredibly humbled that A) Tom is a subscriber to SIV, B) That he actually reads my emails, and C) That he contacted me with his very generous offer.

If you listened to his first appearance you know what a huge influence Tom has had on my sales career and quite frankly my life. I could not be more thrilled to get to gleen more wisdom from Tom during this interview. The thing I love about the SIV podcast is that I get to ask questions and learn from every guest we have on. The way I look at it is that I get at least 1% better from each and every guest. I thank you for coming along with me on this incredible journey.

In the interest of time, so that you can get to listening to the podcast asap, I have again bullet-pointed the things we talked about on today’s episode.

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#032: Jackie Kohorst-Payne: Grit + Professionalism Always Wins

Where is VB headed?

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Are You Stubborn Enough

Have you ever meet someone that you instantly knew was a true professional and that you were really going to enjoy collaborating with? Someone you knew was going to make you better? I first meet Jackie in early 2016. Her story of grit, determination and triumph inspired me then, and it continues to inspire me today!

Not only is Jackie inspiring, she is a world class professional and leader. In today’s episode Jackie breaks down where they VB industry started, how it got to where it is now, and where it is headed. I know I have never heard

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#030: Ron Jones – Let’s Go Fishing

Go to where the fish are biting!

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Ron Jones Fishing

I actually meet Ron on a fly fishing trip in New Mexico. The trip was an award for a contest we had won from our carrier at the time. We would soon become fast friends and peer mentors.

This is also one of the “lost SIV episodes” that I recorded but was unable to release during my hiatus from SIV.

In this episode Ron talked about one of our favorite subjects…. (no, not fishing)

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