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Why Top Agents Are Switching to Transamerica Final Expense (Ep.233)
Transamerica unveils its groundbreaking changes to their Final Expense Express product, featuring an innovative text-to-sign process and expanded underwriting acceptance for multiple health conditions.
• New six-digit PIN signature process launches August 8th, simplifying virtual sales
• Policy application takes under 8 minutes with underwriting decisions in first 3 minutes
• Expanded underwriting now approves combinations of serious conditions for level coverage
• New Policy Promise feature provides immediate confirmation to build client trust
• Intelligent Social Security billing enhances policy persistence
• IUL Express with instant decisions up to $500,000 launching in November
• Term Express product coming in 2026
Hello everybody. Andrew Taylor, here Today, we have Steve Weber with us with Transamerica and we have Steve Bauslog with us with Transamerica. Thank you guys for coming in. Thank you for all the hats you brought. If you sell a lot of insurance, you should ask them for some swag. I got my Americo shoes on and my Transamerica hat on Nice and my Transamerica hat on Nice. So you guys have some new cool stuff coming. But before we and if you're watching this, hang in there with us because it's a new product signing and also a new product that's coming Are we going to talk about the new product?
Speaker 2:We're mostly going to talk about the new signature process, but we're also going to talk about the enhancements we've made since I was here last.
Speaker 1:Okay, New underwriting rules, new policy promise, et cetera. Yeah, so if you guys don't know this, they have a final expense product. That's pretty insane, Like last time we talked about it. You could have Parkinson's and congestive heart failure both of those things and you could get a level product, a level death benefit. Yeah, Our underwriting and it just got better, and it just got better. So this is this is legit and is it an instant issue?
Speaker 2:product A hundred percent instant issue in the application.
Speaker 1:We're actually going to give you a full demo, okay so even though we've talked about this before, we want to talk about it again because it's that good. Yeah, but before we get there, I've been talking about the industry a lot. Um, because how old is the life insurance industry? Hundreds of year old, hundreds, like how many hundreds? 300 years old, you think 300 years?
Speaker 2:old, 300 years old? Yeah, I think it's older.
Speaker 1:You think it's older? Yeah, yeah, it's older. You think it's older? Yeah, yeah, drew, can you google that real quick? I'm just curious. Imagine. Imagine the way it worked 300 years ago. What am I googling? How old is the life insurance industry? When was the first death claim paid?
Speaker 3:good question I think it was like medieval days yeah, they pooled their money.
Speaker 2:There was like a collective that pooled their money and basically was life insurance.
Speaker 1:Dude, how is there no movies on this? Imagine a claim back in the day 200 years ago. Life insurance industry. You guys can hear me okay.
Speaker 2:Yep.
Speaker 1:Dates back to 1706. 1706. Yeah Damn so older than what all of us thought, right just over 300 years old. I said medieval, that's like 1400, I win the exact date of the first death claim is not specified in search results. Okay, so the reason I'm bringing this up is because the industry is 300 years old. It's an amazing industry, because for somebody to sell these products one. It's a very comforting feeling knowing companies like Transamerica are the ones paying you because they've been around. For how long has Transamerica been around for?
Speaker 2:Part of 176 years. I mean long, long time, especially our roots grow deeper than has transamerica been around for, like a part of 176 years. I mean long, long time, especially our roots grow deeper than just transamerica because we're part of agon so long time okay, so 176 years, right?
Speaker 1:yeah, so when I'm recruiting somebody, I'm like dude, this isn't something we just heard of like last month. These companies have been around and then they have insurance regulations in place to make sure they can pay claims and also pay commissions. Is that correct?
Speaker 2:Yeah, you have to be really strong with strong, you know, big financial reserves.
Speaker 1:So like have you guys ever not been able to pay a claim that you're supposed to pay?
Speaker 2:No, we've paid, I think in the I don't know the exact number of years, but we've paid about $47 billion in claims.
Speaker 1:Okay, so $47 billion. So when I'm recruiting somebody, I'm like dude, you don't have to worry about them not being able to pay you if you sell a lot of policies.
Speaker 2:Yeah, and especially with Transamerica, because it's such a well-known brand, you don't have to sell it.
Speaker 1:Yeah, now on the flip side it's a very rewarding business for the person selling it because that $47 billion is going to widows, single moms or dads, kids who maybe couldn't go to college but now can, kids who maybe would have a way worse living situation that now can. So on the flip side it's very rewarding. It's very rewarding. So a lot of people think the insurance industry like I always tell people like you wouldn't think it's that cool, but it's the coolest sales position or independent contract position I've ever seen by far because you can get paid. And how long does it take to get paid if I write a express policy?
Speaker 2:About 48 hours.
Speaker 1:Okay, so you get paid in 48 hours. So you compare that to loans, real estate, solar, anything I've seen. And then, on top of that, the way the commission works is you can get advanced a significant amount of money based off of collecting a small amount of money. So, for people watching, if you're new to the industry, if you collect $100, you could get a commission of $1,000 or more, depending on your contract level and the carrier you're with right.
Speaker 2:Right, we're going to advance nine months of those payments. Yeah.
Speaker 1:So it's a beautiful industry, but this is what I wanted to talk about. So I think that the industry was reborn after COVID, so it's really only a five-year industry, and the reason I say that is because virtual sales was not very popular before 2020, was it?
Speaker 2:No, everybody was face-to-face. Go knock on a door, get to the kitchen table try to sell.
Speaker 1:So I went to 10,000 people's houses Wow. And I started when I was 18. Over a 10 year period I did 35 appointments every single week, even the week of Christmas, new Year's, thanksgiving, it didn't matter. I would just change my schedule to make sure I still could go on those numbers on that amount of appointments. So I just move it to Monday, tuesday, if there was a holiday later in the week. But the thing was I never wanted to lose momentum, but I had a hard time recruiting people that would do that. So like, are they going to drive to all these people's houses and meet them in person? Probably not. Well, now it's this whole new world and the industry starting to really grow, because you could have anybody. They could have a health condition, they can't drive, they could sell from home, they could do five, six, seven policies from home and it can change their life dramatically as far as income. If they can figure that out Right. Are you guys seeing that from where you're at A hundred percent?
Speaker 2:We're seeing way more agents want to get into the business, agents that couldn't travel. You travel. Maybe it's because they have children at home. They're learning how to sell, you're teaching them how to sell and they're doing it from home, from the safety of their home, and I think that attracts a lot of people that you wouldn't be able to get if you had to tell them to go drive into possibly some rough neighborhoods.
Speaker 1:Yeah, when I first started. So the other thing is now we can call leads everywhere. We could call leads in Hawaii, we could call leads in on the East Coast West Coast, it doesn't matter and I like that agents call this time traveling yeah, because they're like I could be here and I could call till Hawaii, till midnight. I could call on the East Coast at six in the morning or five in the morning and I can make sales, so like they really can just hop all over the place working virtually. But back in the day there was only a certain amount of leads you could get in your areas that you ran, and my area was Compton, englewood, watts, la County, washington, and so when I would tell people like, yeah, this is cool, you can do well, but I have to go to Compton, I would actually lie to my mom because I didn't want to tell her I was going to Compton. So I'd be like, yeah, I got some appointments in Beverly Hills and like these nice areas, because I didn't want her to worry about me.
Speaker 1:But basically the industry is so, it's been reborn and the opportunity is so big that if you're watching this and you're in the industry and the opportunity is so big that if you're watching this and you're in the industry, you should really turn it up right now. Because, imagine, if you got in early, well, here you are. You're getting in early because you're ready. You're not in the industry. You should look at getting into it because of all the opportunity Now. With that being said, let's get into this product.
Speaker 2:If you want to give us like, just remind us of all the cool things it does and then we'll get into the signature process. I'll probably start with signature, because it's what you're talking about. You know, we've had tremendous success with this product since we launched it just less than a year ago, really got going at the beginning of this year. We have partner firms that are up 1,000%, up 250% and right now most of our success has been from those agents that are selling face-to-face. The face-to-face signature process was really easy Just turn the computer around and click. But truthfully, the current telesale signature process is a little difficult. It's right now. You have to get a text message, click on that link, enter your email, have the client right, this is the client. Sometimes this is a 70-year-old lady, not very good on her phone. Enter her email address, create a 10-digit password, enter her birthday, enter the last four of their social, then click on a few boxes and then sign. So today it's a good signature process that's easy, for telesales is going to was the reason we're here. First, because your sales are about to explode with Transamerica. So the product itself I'll probably end with some changes to underwriting because I've got some things to show you and a really good trust builder.
Speaker 2:You're selling to people you probably never met before. How do you make them feel good after the sale? You've made the sale? What do you do to keep that on the books? How do you give them confidence in what they just purchased? So I'll show you a really good tool here. But let's go to the screen and I want to do a quick demo of the e-app and the signature process. Sound good, let's do it All right. So if you look on the screen, just like every other e-app out there, we're going to start with your client information your name, your address, your height we're just going to walk through it pretty darn quickly and your phone number, your email. So, just like every e-app, we're going to put your information. Then we go right to the health questions. So on the next section, we're going to go and enter your Hold on, let's pause for a second.
Speaker 1:Tell me how fast you want to go, Okay. So if you're watching this, you get a customer on the phone. You're going to show them a price for a whole life product. That goes up to what number?
Speaker 2:We have really good rates, so up to $50,000.
Speaker 1:So you can get up to $50,000. This is usually designed for final expenses, to take care of funeral, some bills and not leave your family in a bind when something happens to you.
Speaker 2:It's about not being a financial burden for those that love you and those that are going to handle your final wishes.
Speaker 1:Okay so you're going to show them the premium can be all over the board depending on your age, but let's say it could be, you could get a $5,000 policy, you could get a $50,000 policy, you could get a $30,000 policy. You're going to tell the customer hey, look, let's get what's affordable for you, comfortable for you, fits your needs, fits your budget, and whether that's $80 a month, $50 a month, $120 a month, $200 a month, then you're going to say, okay, well, let's get you approved. And then you're going to go to this process. You open up this browser, you type in their information and this is where we're at right now. So, drew, go back to the health questions.
Speaker 3:So go to securetransamericacom. Make sure you're registered there. Then you go to FE Express.
Speaker 1:Okay, so this product is called FE Express.
Speaker 2:Yep, yeah, so real quick. You go into the health information. If your client's relatively healthy, you can click none of the above. A couple of quick questions on their history. This example we're showing someone who has CHF and diabetes. So let's keep going. And then you answer a few more questions around the last 12 months, have you been in a hospital? Have you been in a hospital? Have you been in a wheelchair? And then we have a couple of lifestyle questions coming up next, questions about smoking, around DUIs, around felonies, and so we go health questions, then lifestyle questions, and then right after here you're done and we're going to have the client sign.
Speaker 1:How long is this application? That's it's short.
Speaker 2:I mean that was it?
Speaker 1:What does it take? Seven minutes.
Speaker 2:You get an underwriting decision in the first three minutes and the entire application is taken just under eight minutes.
Speaker 1:Dude. So back in the day I did so many appointments I memorized the entire Transamerica application, every single question, so I didn't have to read it.
Speaker 3:Nice, Just do it, I would just rip through it, the old waterfall application.
Speaker 1:Yeah, like where it's like if you answer yes in the first category, you don't qualify, if you answer yes in the second category, you're graded, and if you answer no to everything, you're standard, right, yeah, so this?
Speaker 2:application is even shorter because the fast data that's out there has gotten even better. So now you're going to sign, let's do a text message signature, because you're not face-to-face. You're going to make sure this is the right signature. You're going to accept the terms and conditions and then now this is the agent in this example, right saying, yes, you're correct, but now when you hit, you're going to get a pin. So this is a text message.
Speaker 1:All right, so send this to me. I got my phone ready. It should come in just a second. That's my dog, Ruby, my first daughter. Awesome. Hopefully my wife doesn't send me something I don't want anyone to read right now.
Speaker 2:So in this. So what we're doing now.
Speaker 1:Drew, did it come? Oh, I got it okay. Yeah, all right.
Speaker 2:So this is what it looks like, um, basically don't click on the links, just just says uh, you know, give you the pin, yeah okay, what's the pin?
Speaker 1:read that out. So the pin 465779 all right.
Speaker 2:So now, as an agent, you're just typing the PIN in, right there. So you read we want you to read that little scripting above right. And then you check the box and, as an agent, you're just typing in that 465-779. That's the signature. So the client does have the ability to review all the links, review their policies and documents that we filled out, but to move forward in the process, all they have to do is read that pin over the phone. So now they read it to you as an agent, you're answering a few questions around commission splits and how long have you known the client? And then, what's good?
Speaker 2:Notice, we didn't ask for any banking information. Notice, we didn't ask about beneficiaries. We're trying to give you a decision at the beginning of the app so that you can choose to move forward. You can choose and also you can choose to customize the coverage. So you, as an agent, you just clicked to apply your signature. Now we're going to do the underwriting behind the scenes and what the feedback we get is this is the fastest decisioning app in the industry, that whatever fast data we're pulling it's taking about 45 seconds.
Speaker 1:So you're telling me on the front end it's already doing. What is it A prescription?
Speaker 2:check on the front end it's doing criminal check, financial check In the first three minutes, in the first three minutes, so right here it's. Checking all these things in the background takes about 45 seconds and you're getting a binding decision. You're getting an offer and right now and you can kind of, you know, while you're waiting, you can kind of review those policy features in the bottom. But when you get this approval, you get the approval for not just what you applied for but for the maximum. So if you applied for five grand, you're going to get approved for 50.
Speaker 1:So does it tell you can you change it on this end where you're like, hey look, you got approved. We can actually bump you to 50 if you want. I know you want 25, but 50 would be a little bit more money. Does it give you the option to do that here?
Speaker 2:Right here. So right now we're in the UIT, we're in a demo environment, so it kind of kicked us out for a second, but it'll restart right where it should Now. Yeah, so right here it says congratulations, you're approved. Select, remember you checked you had.
Speaker 2:CHF and diabetes. So at the top it says you can customize your coverage so you can either solve for premium or you can say what you know. What does uh 50 000 cost? So what's interesting about half the people that change their coverage amount about half increase it and about half dial it back down. Because it's important to find something that's affordable for your client. Right, don't get your client into something that that's going to bounce in no, four months.
Speaker 1:yeah, I always say, uh, because carry, let's talk well, this well, this is amazing, dude. First of all, so if you're watching this and you don't have this, you should get this product. And if you need it, you could call us Our information's in the description and we'd be happy to help you get it. But this is legit. And then you've got Transamerica, a name that people know, and when you sell it, the thing I like about the names people know is, I feel like it helps the persistency, because they're very comfortable about who they got, and Transamerica is one of those names you know.
Speaker 2:I think it helps a newer agent that maybe is still trying to build their own credibility. Help that client feel confident that they're working with a brand name company that's been around that. You know, everyone knows the pyramid. They know trans America.
Speaker 1:But let's talk about this because I've never seen the carriers more strict on persistency.
Speaker 2:Hey, Lindsay, before you move forward, let's show social security here.
Speaker 1:Oh, social security billing, okay yeah, so we're not even done with all the cool stuff on this Right?
Speaker 2:So this is really good, right. One thing that's important is that, well, let's just say, getting to the money fast, right, you've got to work with a true Social Security billing company that knows when to get to the money from the client, withdraw it right after they got paid. What we do really well is we actually give you feedback so you can. We're kind of asking you like, is there an exception to social security? Because we're going to recommend a date. You can override it. You can say the third of the month, but we're going to ask like, wait a minute, does this client get SSI, is this client on disability? And then see where it says recommended first day of the month, and if you, as you change those dates, notice how they change. So we do social security billing really well.
Speaker 3:And if you want to see the schedule go ahead, Herb, Right now our take rate's only about 24% on social security billing. It should be all the clients are on social security billing, right. It should be 50, 60, 70%. We also advance on social security billing if you're using a direct express card. But if you go back here, if you put the Direct Express card under pay immediately or scheduled payment, you're not going to get advance commission, and you're talking earlier about how important that is. So I want to make sure everybody who's listening if you're using a Direct Express, put it under Social Security billing, Do not put it under pay immediately or scheduled payment. We'll treat it like a normal credit card and we will not advance commission on it, got it.
Speaker 1:Okay, cool, and the power of Social Security billing is a lot of customers. They might live paycheck to paycheck and you really have to get the billing right for them so you don't mess anything up for them, right, right, and then they can keep the policy on the books because when they get paid the premium comes out.
Speaker 3:Yep, so people can pay with a checking account, bank you know, savings account or social security billing and social security billing knows if the payment dates on a Monday right and that's a holiday we're going to draft it on the Friday before.
Speaker 1:Yeah, it knows, it knows exactly when they're going to get paid and when everything works Legit.
Speaker 2:So we've already put in our beneficiary, we put into the banking information and now it's time to lock down everything. We're choosing a checking account. We have some numbers to put in here. So once remember, you've already got that decision. You customized coverage, you shared how excited you are that the client got approved. Now you're putting in, you did, your beneficiaries and your banking, and then to lock everything down, you sign one more time.
Speaker 2:So, once again, the client's just going to receive a text and, andrew, you'll get a text here in just a second. After we go through this and then that text, you'll just read back those numbers and the client can review their policies. And then we're going to show you the policy promise, which I think is really important Brand new feature. Most carriers don't have anything like it, and we'll show that in just a second. Did we give the go live date? No, by the way, this goes live a week from tomorrow. So this is not live yet, guys. Thank you for saying that, steve. This goes live a week from tomorrow, on Friday August 8th. So all you top producers, we'll be with you live in Cancun talking about this from stage. Yeah, lindsay, let's go ahead and click so the text message gets generated, andrew, on your phone. In just a second you'll see that text, all right.
Speaker 1:What if you have an Android? Does it still work?
Speaker 2:Yeah, it does still work.
Speaker 3:Flip phone, you're good. That's surprising, yep.
Speaker 2:So is that the new code or is that the original email? Why don't you back out of that, in case it's waiting for the I?
Speaker 1:think that's the new code. All right, yeah, that's the new code. Yeah, so read that out loud 805-539. And what's the number?
Speaker 3:it's coming from uh, four, six, same number. Yeah, just so everyone knows, so they can instruct the client. Hey, you're about to get a text from.
Speaker 1:Yeah, well, this is so clean, dude. Yeah, on the third of every month, two hundred dollar. Yeah, so good. What was the age? So people can get an idea, what was the client's age on here for 50,000?
Speaker 2:I'm not sure what did we do, Lindsay?
Speaker 3:It goes up to 75 for 50,000.
Speaker 2:They were born on 3-18 of 72.
Speaker 1:How is Lindsay in the headphones? Yeah, pretty good. That's impressive, drew. Okay, this is the one I show you. Wait, hold on, how old were they?
Speaker 3:72. 52.
Speaker 1:That's a 72 year old is that what you said?
Speaker 3:no, 1972, oh 1972.
Speaker 1:Yeah, okay, so I'll talk about rates and stuff.
Speaker 2:But don't move here. This is really good. So remember, now you're you're talking on the phone to a client who you've never met before and they just gave you all this information. How do you make sure they don't get buyer's remorse? How do you make sure their, their grandchild, doesn't come in and say what gave you all this information? How do you make sure they don't get buyer's remorse? How do you make sure their grandchild doesn't come in and say what'd you do? Right, you've got to give them something that builds trust immediately. So, right here at the end of the sale, this is the agent. He's still on his computer. You can download this PDF called a policy promise and it summarizes all of your client's information and you text it to them of your client's information and you text it to them. You're right, you send it to them immediately.
Speaker 1:Unless they have an Android, they can't open up PDFs.
Speaker 2:Oh man, so right here, look what it has. It's from Transamerica, it has our logo, it has our brand Congratulations. It tells them exactly what they bought their policy number, their face amount, their risk class, their draft date. It has on the bottom notice it has the agent details, name and email. It has all their information.
Speaker 3:So, Steve, how are agents using this? Yeah, they're printing it out and they are mailing it to the clients with an Everest brochure.
Speaker 1:Oh, mail it and text it. Yeah, because add something about yourself and email it.
Speaker 2:Yeah, text it right away, email it right away and then follow up with a brochure on Transamerica, a brochure on the funeral planning benefits that are built into this product.
Speaker 1:Dude, I write. I always wrote every customer a handwritten thank you card for trusting me to help them with their insurance. I would throw this in there yeah, it's genius, yeah.
Speaker 2:So that's it. So let me show you some other changes that we just made. All right, let me share my screen here, andrew.
Speaker 1:Yeah, just exit out of the Zoom, steve, okay.
Speaker 2:Just close it off.
Speaker 1:Yeah, you can close it out. We're done with Lindsay, right? Yeah, okay, lindsay, thank you Thank you. Lindsay.
Speaker 2:Thanks guys, and Thanks guys. And if I just go into presentation mode like this, yep, wow, let's go All right. So you might remember this, we went through this and I'll go real quickly. When we first launched this product, we had really good underwriting rules, especially around unrelated comorbidities, right. Every agent always asks about the big four. They ask about CHF and they ask about COPD and they ask about diabetes and diabetic coma, diabetes with neuropathy and heart attacks. Those are kind of the big four.
Speaker 1:Yeah, those are the niche ones where it's like not everybody takes them and when you have someone that does, it's really nice, yes, so we're good.
Speaker 2:The problem is this is a single condition chart and we were very good at unrelated non-comorbidities. So let me give you an example. These are what I'm trying to say emphasize we didn't stack unrelated medical conditions. So look at these examples COPD, diabetes, ms, parkinson's those are actually not related. Sometimes one plus one plus one still equals one. And here you are approved day one select. That's insane. Here's some other examples still approved.
Speaker 1:Dude, hold on. You're telling me you could have all of those things and you would get approved.
Speaker 2:Well, look at this one, though I want to, I'll slow down on this. So diabetes with neuropathy, lupus, emphysema, these are unrelated, non-stackable medical conditions.
Speaker 1:So your actuaries are saying if you have these three things, you're not going to die earlier because you have all three of them, because they're not related, they're not affecting each other.
Speaker 2:Yes, they don't make each other worse. The other way to put it sometimes one plus one equals three, right Meaning two diseases are not just twice as bad, they're 10 times as bad.
Speaker 1:But, for example, if you have congestive heart failure and diabetes with neuropathy, those things are affecting each other, so it's not one. So one plus one equals two, so it would knock them out of that bracket.
Speaker 2:Right. So in this example, when look how we're about to change this, chf and diabetes, you still got coverage. It was graded, so look what we're doing now. Here's another example. I think this is a decline. Yeah, kidney and CHF you know two failures is definitely a decline. So I wanted to show you an example of a decline. But look at the rules that just went live last month. So you have the old rules from a month ago and the new rules today.
Speaker 1:So that's all of our old rules with COPD and stroke. Now let's, I kind of blocked them out here. Now is this because medicine is getting more advanced, so people can have things like this and they're going to live a normal.
Speaker 2:It's a combination of advancements in medicine and our underwriters getting really good. There's places where strict.
Speaker 1:So it's just data. Yeah, it's the data that trans America has. But does medicine have something to do with it? It must Sure, because back in the day, all this stuff, a lot of this stuff, would be auto decline with every carrier.
Speaker 2:And now you're not even graded. Look at the how most of these changed. So COPD and stroke was graded day one select Wait stroke when, in the over two years ago, Ever, ever.
Speaker 1:So if someone has a stroke, they could get a select policy. Yes, yes, you had a stroke a month ago. That does not make sense.
Speaker 2:So look at the new ones, you know, jump down. Diabetes with renal failure was a decline. Now that one did go degraded. But look at these next group of examples CHF and stroke was a decline, Now it's day one coverage. Select CHF, CAD, coronary artery disease and stroke was a decline. It didn't move to graded, it moved to select day one coverage. The third from the bottom, CHF and diabetes and coronary artery disease. The very bottom one, COPD, CHF and CAD was a decline, Now it's select. So our placement rate right now is as good as it's ever been because we're approving people and it's really important to get day one coverage. If you don't as an agent, if you just sell someone graded and tell them it's the best they can do and another agent comes behind you and can give them day one coverage, that policy is going to be replaced.
Speaker 1:Not only that, dude. What if the person dies and they could have had coverage? Yeah right, you know Right.
Speaker 2:That's a good point.
Speaker 1:Let's not talk about commission, let's talk about. This. Person dies in a year and they could have had a death claim and they don't have one now because you didn't. You didn't learn the underwriting with all the products, yep. So when?
Speaker 2:you combine one of the easiest I mean, I think now you know tied with AmeriCo, let's say, for the easiest telesale signature process in the industry. Just read the six digits Now, if you want to review all your forms, they're all right there. But this policy promise I think that is a game changer being able to solidify trust and let that client know exactly what they purchased, with all of their details. I have it here in a little bit, but let me show you a couple other things.
Speaker 1:Dude, whoever did this did a good job. I just want to tell you that, because most times the carriers design something and the guy designing it's never sold life insurance and he thinks it's the coolest thing ever and it sucks Right.
Speaker 2:Well, I mean our telesale signature at launch until now till August 8th is kind of an example about that. It's a difficult signature process. Some teleagencies a lot of them here at FFL won't sell the product today, but a week from now, on Friday, august 8th, this will be live. Policy Promise is already live. So, once again, this is where you download this document immediately at the point of sale. You text it to them, talk about something that they feel good about. You know a lot of times if you're delivering policy documents it takes weeks, it takes 10 days. Here you're immediately giving them something You're following up with, maybe a thank you note in the email. So Policy Promise is it's live today and people are using it after every single sale.
Speaker 2:We talked about Social Security billing right improvements there. If you're paying with a credit card, a direct express card, make sure you first say it's Social Security billing, then pick the right date, then pick your the credit card and then we have more coming, so coming soon. We just talked new graded rates. They're already live. So we just our graded rates were pretty expensive. Now they're really. They're much more competitive.
Speaker 1:Yeah, I always wondered why people would do graded rates that are so expensive that no one would even sell it anyways. Yeah, that's what we had. So how does this compare to like AI or Corbridge? How do the rates compare?
Speaker 2:Yeah, I haven't seen Corbridge directly. I know what you've made up to like 35% reduction and the graded rates that were live two weeks ago. These are now live today. They look better. I'd say they're not industry leading. But the underwriting when I talk about rates I usually say our rates are good, our rates combined with our underwriting are fantastic. Right, if you've got CHF and diabetes, no one else is even going to put you a graded. They're going to put you as decline. So here our rates are really, really strong. So, pin to sign we just talked about that. That comes next week on Friday.
Speaker 2:Iul Express this is going to be another game changer for Family First Life. You guys do a really good job understanding IULs, building them correctly and writing IULs. And on this same e-app, the same e-app that we've been talking about. So you're going to be able to pick Final Expense or IUL Express. It's going to be 100% instant decision. It's going to have a $500,000 max. It's going to have the same six-digit PIN to sign for an IUL. So that's coming. And then next year we'll have Term Express coming. So you'll have a whole on the same e-app we just walked through. You're going to have 100% instant decision, final expense IUL and Term coming soon. Let me show you two more things?
Speaker 3:Do we want to talk about the IUL Express, a little more on how much we go up to yeah, IUL Express, you know it looks really good.
Speaker 2:So we're going to beta test it with a handful of your agents here at FFL. They're the only ones they're getting access to at first and we're going to do that in September, October and hope to go live nationally at FFL in November. On IUL Express, it looks really good at higher face amounts. You know, face amounts go all the way to 500 grand. Looks fantastic for overfunding and target funding. And ages, once you get around 45 and older, looks really good. After national launch it's going to be the only instant decision IUL for juveniles. So the ages are 0 to 70 or 75 for this IUL Express. So that's going to be really good too. Yeah, sweet man, yeah, on this page. Make sure you have your RVP, Steve Bauslag. Here's his phone number and email. So, guys, grab your phone, Take a quick snip of this, Call the sales desk. All right, so your phone, take a quick snip of this. I'll call the sales desk.
Speaker 1:All right, so real quick. Steve, can we learn a little bit about him, because I think agents should know who he is?
Speaker 2:Yeah, yeah, that's a really good point. You know, as an RVP, a lot of people are surprised just with my own tenure. So I've been here 27 years. I'm in my 27th year, not in the industry, but at Transamerica, and Steve Bauslag Steve is the RVP. He only supports two companies. His number one is FFL. So, steve, you've been with Transamerica for how long? 15 years, yeah, 15 years, long time. And who do you work with? A lot here at FFL.
Speaker 3:Oh man, I'm looking at the names over here on the wall and just yeah, I work with them, like Joe Catran right there who else is over here that I work with.
Speaker 1:But like when would someone call you?
Speaker 3:Oh for anything. Any issues you have, you call me. I can't like step in on an application. So if you have a validation error or something like that, you have to call the FE Express line. I can't help you there. But if you need an illustration for an IUL, call me. If you wrote a term policy and it's stuck you can't figure out what's going on with it, you call me Final expense. If you have an issue and weird stuff comes up.
Speaker 1:People call him for everything. Hold on.
Speaker 3:If you don't sell a lot, don't call him.
Speaker 2:I mean, you have to have a policy to call me about, right, I don't, you know. Call Steve, call the sales desk yeah Right, we have a wholesale desk of internal wholesalers that are here to support you. Answer questions around the product, work with IUL illustrations, or you know, we sell term, we sell IULs, we have a whole life that goes to $2 million. We have, you know, we have two IUL policies today and soon we'll have three with this Express product.
Speaker 3:Yeah, I get back to people fast. That's kind of my claim to fame, is. You know, I'll call you back the same day, if not, you know, 10 minutes later. So leave me a voicemail if you need assistance right away, and I'll get back to you quick, so leave me a voicemail if you need assistance right away, and I'll get back to you quick.
Speaker 2:Yeah, steve, how many FFL agents do you think you'll have in Cabo with you?
Speaker 3:next year. Oh man. So Cabo is $100,000 to qualify and right now we have probably 10 on track to hit it. But that's without text to pin.
Speaker 1:I mean you're going to have guys writing $100,000 in two months with us, I think you qualify for two trips. What do you guys think about the growth of it? Because this is the thing I've been working with FFL since they opened and it's been a really crazy ride. Yeah, what do you guys think, looking at what has happened with the company, like, what's your opinion on it?
Speaker 2:Well, listen, I love Sean Mike. I'd say it to his face he's a beast. He's this one of a kind in the entire industry. And how hard he works and how passionate he is about winning and doing right by agents and growing family first, it shows in your growth.
Speaker 1:But what's the growth? Because for a carrier to watch it and get your opinion is different than someone like an agent. What's your opinion on the growth? What have you seen In the industry? Or just FFL, just FFL.
Speaker 2:Well, your growth has been incredible. You know, you've been our number one agency, like every year, for about seven years Now. Right now there's a contender who's face-to-face, so we got to get you guys to write more. Fv Express.
Speaker 1:Yeah, what about? Like? What do you think about the fact that we gave AmeriCoat 10,000 applications in a week?
Speaker 2:Yeah, it gets me excited because I know we have to earn your business and what we're doing now and the things that are coming we're going to become. You know, I don't need to, I don't need to beat AmeriCoat, but I darn well want to be number two.
Speaker 1:Have you ever seen someone doing 30,000 apps a week?
Speaker 2:No, no one does With all the carriers.
Speaker 1:No one does as much business as you do, but like is there even a contender.
Speaker 2:30,000 apps a week, there's some really good other integrity partners that I'm really close to, but you guys are certainly the top of the chart when you're driving sales.
Speaker 1:Yeah, what about working with some of the other leaders? Have you had good experiences with them? Have you found they're good people? The reason I'm asking is because sometimes you get these trolls on the internet and they just make up a bunch of stuff like don't work there because they're going to steal from you or whatever.
Speaker 2:Yeah, it's absolutely ridiculous. I mean, listen, you're getting some attention because of how successful you are and half that negative attention are from agents who don't know what they're talking about. They've never been with you, they don't understand you, they don't realize your training, they don't realize how passionate you are about winning the commissions that you pay. There are definitely people out there that are just. They're just lying and trying to pay the agent directly.
Speaker 3:So how are you guys going to take money from?
Speaker 1:Yeah, yeah, yeah. No, it's just funny, because people ask me that I'm just like dude. I guess we're just we've. We've been growing so fast. Everybody's mad you know, yeah, but I like to hear from the carrier or have the carrier talk, because it's like I every carrier I talk to, they're like we've never seen anything like this before and it's just like a rocket ship and it keeps going Right.
Speaker 2:You know and it's about to blast off, I think you kind of listen your sales are way, way up, but we know there's a lot of people here that only do telesales, that wanted a new signature process and with this coming on August 8th, your sales at Trans are going to explode. We've already doubled since last year We've already doubled since last year.
Speaker 1:Yeah Well, dude, the thing is is we're mostly telesales now, or we're mostly virtual. It's not really telesales, but like we could do a sale on Zoom Sure, we could do a sale over the phone. So when that product, when this product, when you can do a tech signature, it's going to be insane. Yeah, one week from tomorrow.
Speaker 3:August 8th. We watch all your posts on Instagram and we're not in the top four. Yeah, we see who the top four carriers are. We want to be in there.
Speaker 1:Yeah, I think you will be All right. So, if you're watching this, there's two things I want to go over and then we'll wrap this up. One if you have success stories in the industry, reach out to us because we would love to interview you. Reach out to us because we would love to interview you. I love the underdog stories where, like, somebody wasn't supposed to make it but they did, or this industry gave them an opportunity to. So if that's you, we'd love to hear your story. You guys can drew. How could they reach us? If, if, um, if they have something cool or know somebody that has a great story in the industry, um, they can drop it in the comment on YouTube. They can go on our website, fflusacom. Dm us on Instagram. Dm us on Instagram would probably be the best one. Family First, life USA is the Instagram. And then also, if you have success with this Transamerica policy, we would love to have you come in and we can learn about a real success story of how this product helped customers and help the agent, because at the end of the day, we got to get paid to stay in business.
Speaker 1:The other thing is, a lot of people ask me they're like, hey, what would? How would you grow your agency and if you were starting over? And my answer to them was I always have high, high expectations for agents to invest in themselves. And what I mean by that is I went to every training, I went to every meeting and a lot of times I hear people go well, I can't go because of X, y and Z, but this is your career. It's going to be your career, right? So every little competitive advantage you can get you need.
Speaker 1:And then also, I would want to quit a lot because it's sales and not every day's fun. Some days you just get kicked in the face all day and you're like man, I don't want to do this anymore. But getting around other people that are winning kept me in the industry long enough to figure everything out right. So the reason I want to bring this up is because we have an event coming up. It's in drew. Where is ignite at in miami? Um, palm beach, palm beach, west palm beach. Okay, so west palm beach, uh, drew, can you pull the dates up on that?
Speaker 1:yeah, it's like uh, october, october 3rd or 4th october, 3rd or 4th, okay, and drew what's the website ignite eventcom, and it's spelled i-g-n-y-t-e eventcom. And it's spelled I G N Y T E eventcom. We'll be there and trans will be there.
Speaker 3:Ryan Parker, our new head of distribution, will be there.
Speaker 1:Yeah, awesome. All the carriers will be there, the top producers will be there. I tell agents honestly like, if you don't get, go to these trainings, if you're not serious enough, I probably would think about doing this part-time and keeping your job or doing what, whatever you did before to make money, because that's how helpful they've been for me and I always want to encourage people. You definitely should go, drew, is it free? Yes, so it's a free event with the top leaders in the industry, with the top carriers in the industry, with all the products. You can meet people, you can get help. You got Sean Mike, who, I mean what he's built is amazing and I think he's just getting started, which is the crazy part. So I mean, we want to see you there, we want to meet you there. If you need any help with any information on it, you can reach out to us, but I will be there. We'll all be there. We plan on seeing you there.
Speaker 1:And, uh, one thing I've always done, steve, is this when I was new, I would register for stuff early and I would pay for the flight and airfare early. That way I couldn't back out. Yep, because I knew I would back out. You're committed. Something comes up and I'm like, oh, shoot, and don't get the airfare insurance either. You can't get your money back, you have to go. But I've always done that, so book your stuff. Thank you for joining us, trans. You guys are awesome, appreciate.