Life Insurance, Annuities and IMO Pitfalls with Jason Ferraro

[00:00] We did it. Jason, thank you so much for coming on the podcast.

[00:03] Yes, thank you for having me. I really appreciate it.

[00:05] Could you just quickly introduce yourself and your background in insurance?

[00:08] Sure. My name is Jason Ferraro. A little background on me is I have about 15 years in the industry, 16.

[00:15] I got about 35 in sales and creating companies on my own. From the time I was age 15, I've never really

[00:21] worked for anybody at all, to be honest with you. I started a window cleaning business back in the

[00:26] early 90s and then blew that up to six trucks running at age 21. I sold that, started some

[00:33] ceramic tile companies. I was always into fitness. So I owned personal training studios throughout my

[00:39] career as a salesman and as a marketer and as a fitness guru. And then it became something

[00:45] special that was actually marketed to health clubs back before all these box house clubs.

[00:50] I would install it into health clubs and, you know, take the membership list and then

[00:54] set up personal training and sell personal training. And then I became a celebrity trainer

[00:58] along the journey. And then a car accident took me out during that journey. And that's when I

[01:03] found the life insurance industry. I was on Craigslist and I seen earn $250,000 a year selling

[01:09] life insurance. I'm like, you know, what, whoa, man, you know, okay, let me, let me try this out.

[01:14] So that's where the journey began about 16 years ago was due to a car accident. I found this on

[01:19] Craigslist and it was just, it's been a journey since. Do you think you were into life insurance

[01:24] because of the fact that you had this accident? Absolutely. I fell into that due to that. I would

[01:30] probably never thought about selling life insurance at all. I didn't know I couldn't spell life

[01:36] insurance, you know, before this. So it was just one of those things that happened and it was a

[01:40] blessing from above because my numbers were, I worked a lot less and made a lot more to be honest

[01:45] with you. So it helped tremendously change my lifestyle. So walk me through how you got into

[01:50] it. You saw an ad on Craigslist. What did you do? Clicked on that ad and I read, you know,

[01:55] that agents were then life insurance sales professionals needed to earn, you know,

[02:00] substantial grosses and commissional based money. And I was just like blown away by it. So I said,

[02:06] let me go check this out. My first practice company I worked at was something of a, like

[02:12] watching the Wolf of Wall Street when I walked in. I mean, everybody had nice suits. All the cars

[02:17] outside were fancy and just mind-blowing rides. And at that time, I had a little bit of money still

[02:22] left over from selling of the personal training studios, but I didn't have much. I was out of my

[02:27] last 10,000 bucks. I even pulled up on a Harley Davidson that I eventually had to get rid of to get

[02:32] into this business. So I walked into the doors of this place and it was just blown away by what they

[02:39] were being able to pull off and listening to the leaderboard and saying, wow, that dude just made

[02:44] eight grand this week selling life insurance on his own. You know what I mean? It was just mind

[02:48] blowing. So I'm thinking, what can I do knowing that I'm better than all of them? That's how my

[02:53] thinking was back then. I was very cocky, but it didn't end up that way. It didn't start out very

[02:58] well for me. You know, it really didn't. It took a lot for me to conquer this industry and learn how

[03:03] to sell at the levels I have. And companies that I thought, and this is very, very important for

[03:07] people that are new to the industry that they evaluate and they take a look at what they're

[03:12] about to get into. They aren't bamboozled by the smoke in the mirrors, if you will,

[03:17] of the individuals that are selling this, making a lot of money, because this can be an M.I.L.M.

[03:22] business and people can get wealthy by doing it to a certain point and then having some numbers

[03:27] that prove that they can make that money, but then turning it into an M.I.L.M. business, which I was

[03:32] at, at three different practice companies, you know, and these particular companies are notorious

[03:37] for doing this to individuals. And I just, you know, I had to learn the hard way, which was back then

[03:43] before all this technology and what have you, how to sell life insurance. And this is back in the

[03:49] time where it was on a sheet of paper, you would do your quoting from, it would say $1.25 per

[03:55] thousand. So literally I would have to take $10,000, $1.25 to make times 10 to understand what $10,000

[04:03] would be life insurance for somebody. So I'd have to do the math on that, qualify them and all that

[04:08] stuff. But the great news was this is a personable business industry that we're in. And because of

[04:15] COVID has taken all that out of there. What I mean by that is staying belly to belly with this and

[04:20] selling life insurance from a point of view that you become the family's rep, just like the old

[04:25] school guys did. I'm a true believer in that this is an industry that you could become the family's

[04:30] rep if you do it smartly and well. But finding a good company to work for is very important. And

[04:36] if you want me to, I can get into that, but it's very difficult. If you find the wrong company,

[04:41] you're going to have a lot of struggles, a lot of struggles. What type of insurance have you

[04:45] been focused on since starting? So mainly for me, it was obviously final expense life insurance is

[04:51] where everybody should start to get the ball rolling, make a simple presentation. And I have

[04:59] a lot of techniques and strategies that can teach people how to not just put three options in front

[05:03] of a prospect or client, but also teach people what they can afford. And I call that my above or below

[05:09] method strategy. You know, take Harsh above or below. Is the household income above or below

[05:14] $5,000 a month? And you say, Harsh says $5,000. It's higher than that. Okay. Is it around six or

[05:20] seven? He says, well, it's about $7,000. I said, great. Can you live on about $6,700 a month and

[05:26] save $300 a month? And Hars says, yeah, of course. And then what I've done is I opened up the fact

[05:31] that they said yes to $300 is about the premium that I would get close to using. So instead of

[05:37] laying out 30, 40, and $50 premiums to people and saying, which one works for you in your budget,

[05:42] I'm teaching people how to fit it into individuals' budgets and sharing with them why,

[05:47] because of inflation and tax increases. They're going to need more later. Most agents deal with

[05:51] the fact that they're trying to cover burial services for today. But on top of that, then I

[05:56] became a giant in selling index universal lives. That was a bomb too for like five years after doing

[06:02] so that I had to figure out, God, there's cost of insurance. I had no idea. Nobody taught me that. I

[06:07] just thought it was a whole life on steroids. Now I got to factor in that there's cost of insurance

[06:11] to these products. And I'm actually hurting people because I didn't develop the product to take care

[06:16] of the COI inside the product. And that has had to go back and rewrite all these index universal

[06:23] Lives that I wrote. So there's some coaching there. Don't just dive into things. Know what

[06:28] you need to do. And the simplicity behind it is you can hurt people really badly by doing this.

[06:33] And when they're 85 years old, an index universal life can act like a term. It can end. So you have

[06:38] to be very careful on that. And then I became a giant in the annuity arena. So selling index

[06:42] new annuities from transitioning life insurance sits to annuity sales. So I became a giant in that.

[06:49] I mean, millions of dollars selling in annuities.

[06:52] It sounds to me, the typical trajectory I hear is folks start in life insurance, and then they either go in the direction of independent wealth consultancy, right, and anything along those lines, or they go into the direction of P&C insurance.

[07:07] And it sounds like you took the former and not the latter.

[07:09] What made you choose, you know, to go down the route of annuities rather than getting into property and casualty?

[07:16] For me, it was a no-brainer because I was like, you know, I was finding out. I said, whoa, whoa. You know, some one time we had a trainer come in, guy that was selling annuities, and he started coaching us. Because back in the day, if you work for certain individual companies, you were able to have locations around town that were like hotspots, they call them.

[07:35] NAA has them, FFL has them.

[07:38] And they're like locations

[07:40] where you can go all over the country

[07:41] and just get coaching from the organization,

[07:44] you know, inside the development of their strategies

[07:47] to coach your agents.

[07:48] You can go to any one of these hotspots.

[07:50] So I started going to these

[07:51] and I was invited to a meeting

[07:52] and then I heard what he learned

[07:54] selling just $2 million that year in annuities.

[07:57] Back then we were getting high compensations on annuities.

[08:00] We sat with like two people.

[08:02] So I said, wow, that's me, right?

[08:05] So the secondary factor to me selling annuities was my demographics based upon mortgage protection leads that I was getting in Wildwood, Florida, Ocala, Florida, and in the villages, Florida, which is a mecca for retirees.

[08:19] The household income was 72 grand, but people were buying houses in 65, 75, and 80 years old.

[08:26] But I couldn't get them life insurance to see the mortgage.

[08:28] so then I'd just buy them time and then I would use the index and index annuity pitch that I have

[08:34] to be able to put illustrations on the table that made sense so they weren't volatile to the market

[08:39] and it worked. Did you ever consider the PNC route? For me, it was always this way. There was

[08:44] just that this just had the abilities to make me a lot of money. Every set, every sit that I had

[08:50] or a set, sit and sale, you know, was based upon getting to the annuity money. It was based upon

[08:57] structuring Americans in a way that they wouldn't have the bottom of the barrel. They would have zero

[09:02] as their hero type thing. Then they only participate in the upsides in a fee-based process that was

[09:09] rushing them also, you know, in their, in their retirement plan. Can you walk me through what the

[09:14] job of someone who's selling life insurance really looks like? What, what is the day-to-day?

[09:19] Well, that's, that's more of like, you know, if I were to start, you show me your calendar and I'll

[09:22] show you your bank account too, sometimes kind of like show me your friends and I'll show you your

[09:26] future. So if you show me the structure of the culture inside the company you're working with,

[09:31] I could show you whether your outcome is going to be good or bad, right? So they have to have

[09:35] mental attitude. They have to have work on themselves harder than anything, I believe.

[09:39] And getting the right mental attitude is vital in this industry. You have to be a badass. You have to

[09:45] be tough. You've got to be, you've got to be, you're going to take your lashings and you have

[09:50] to go for no. You know, you're going to literally get beaten, beaten down by a lot of no's, but

[09:55] that's where they pay you so well. So when you hit that yes, it's extraordinary. It's amazing.

[10:00] And that's where I teach people some simple language and strategies to make sure that they're

[10:04] selling proper premiums that aren't just good for today, but best for tomorrow, basically too.

[10:09] Because most of the time that we're selling life insurance, it's not like the guy's going to die

[10:12] tomorrow nine times out of 10. It's a futuristic visual. And what I started learning to do was buy

[10:17] people time. So I'd sell life insurance based on time. So to structure a good life insurance

[10:22] business, you need to have steady lead flow. You have to have dials. You have to track this stuff

[10:27] because I have a sheet, Harsh has it too, where we give it to our coaching clients that allow people

[10:32] to understand that if I have a lead order, it's 20 leads a week. I have a hundred leads. I dial

[10:37] a hundred times. I talk to a hundred people. I set 40 of that. I sat with 20 of that and I only sold

[10:45] five. Then I can tell people where the faults are in their career and what they need to straighten

[10:49] not in the scripts what they need to do to fix the problems.

[10:53] But from today's world, obviously sitting behind a desk, I just coached about 11 a.m.

[10:58] today for two hours, a team, that I told them go belly to belly again and don't be afraid

[11:03] of your warm market.

[11:04] Market outside this lead thing that we're having problems with, guys.

[11:08] I used to set 19 out of 20 appointments with the leads we used to create back in the day.

[11:12] Now it's like, I don't hear that anymore.

[11:14] And that's an issue.

[11:15] So be careful on who you're trusting in this industry.

[11:19] And remember, you only get paid when you sell something, right?

[11:23] So very important to set up shop properly.

[11:25] The one thing that agents tend to do, they don't take any of the risks themselves, right?

[11:30] They represent their clients to various different financial institutions.

[11:36] In a lot of cases, it's insurance carriers that basically offer the insurance products to them.

[11:41] A lot of the job, as I understand it, is finding the right product for your client.

[11:46] Is that something that you've also witnessed?

[11:49] I've always found that I had to create, first of all, there's a need in that home.

[11:53] Somebody had an idea when they went to fill out a form or they filled out a direct mail piece and mailed it back, right?

[11:59] Which to me is one of the best.

[12:01] First of all, it's TV leads, direct mail leads.

[12:04] They have the highest closing ratios.

[12:07] You're really going to talk to people, man.

[12:09] It's the best lead you can format to selling policies.

[12:13] getting into people's, you know, situations and creating the need that they weren't aware of.

[12:19] Hypothetically, people are thinking about the cost of funeral, burial, cremation, things that I got

[12:24] today, the day's price, because that's all they know. So I just buried my friend at 7,000 bucks.

[12:30] Now, wait, let's talk about 2030, where it's $18,000 to do the same thing. So this policy is

[12:37] really not going to work too well, unless you want your family only to pay half of the funeral.

[12:41] Yeah. So what we need to do is structure these policies and find what fits into the budget and then find the right product. But that's pretty simple, too, today. You know, if I ask somebody like you, I say, Ben, you know, God forbid, have you ever had cancer, heart attack or stroke? If I come out of the gates with that, I could kind of get an idea what I'm going to use. Because if I had cancer, heart attack or stroke, I know that they're not going to qualify for a standard or preferred rate, right? Nine times out of ten. Or an index universal life, for that matter.

[13:08] So when you have things like a company called Best Plan Pro, me and Harsh are working on a quoting tool for agents too, that they are capable of just typing that information in and all the carriers pop up.

[13:20] And then you're able to sell that product based upon the numbers that each carrier now.

[13:25] So for $10,000, Mutual of Omaha might be $40.

[13:28] Worcesters might be $37 or vice versa.

[13:31] So it helps to have the technology today to be able to kind of figure out what you want to do for that individual and just put the data into it, age, height, weight, and medications.

[13:42] And then it'll tell you.

[13:43] Were there any carriers where you have the feeling that you default to them because you know that they're going to give a better product than maybe some other competitors?

[13:50] Absolutely.

[13:51] Well, mine was always based upon premium and then the payout because I was in a career.

[13:55] I'm in this career for longevity reasons, and I've actually dealt with death.

[13:58] So, meaning that I wanted something I knew that I knew that I knew would pay out in three to five days, or at least within the factor of them getting the death certificate over to the insurance company to pay out quickly.

[14:10] Because what happens is, is it's not that they take that money and actually go to a funeral.

[14:15] They actually want to buy time.

[14:17] So, they're trying to figure out all this budgeting stuff that they didn't talk about.

[14:21] They never talked about the money and death.

[14:23] Not one of my clients ever talked about, sat around a dinner table, prepared for death.

[14:27] It's one of the biggest subjects that they shouldn't really handle in a family.

[14:31] So what I would do is handle that with them.

[14:33] And I would project the visualization of buying people time to be able to get.

[14:38] Besides that, there's probate too.

[14:40] Does everybody on your podcast know what the threshold of probate is in their state around the world?

[14:45] You know what I mean?

[14:46] And that's where buying time plus paying debts off helps the survivor and helps the agent really become the pro by talking like a professional.

[14:55] who actually teaches people the things that they're going to face in this dollar amount.

[15:00] We actually, we sell money. You know what I mean? Yeah. If it God forbid it were to happen today,

[15:05] I'd like the value of the product to be for the owner of the policy. I'd love it to be for the

[15:10] fact if God forbid, Ben, you had cancer, heart attack, or stroke, that 80% of the death benefit

[15:16] now is yours. But if God forbid that something were to, and the cash value interest earnings

[15:21] compounding are yours also. So if God forbid your wife passed away first, that you could just take

[15:26] the cash value and pay for her debts. Now that's not an immediate solution because of cash value

[15:32] accumulation over years. But what I would suggest is you take a look at one policy, all agents

[15:36] creating, learn how to create one policy and make it good for two people. And obviously the

[15:42] beneficiary receives the death benefit. And then there's a contingency plan too. God forbid they

[15:47] both pass away at the same time. What is the biggest difference between what insurance was

[15:52] like 16 years ago and what it's like today? It was just a formula of which I think it was much more,

[15:57] it was a lot simpler then because it was more directed towards, it was guys like me coming up

[16:03] the ranks that brought the index universal life-free, tax-free retirement. They've existed

[16:08] back then. You know, everybody's reading Patrick Kelly's tax-free retirement back then to learn

[16:13] and Frank Becker's how I raised myself from failure to success in selling, you know, to get to this era of which all these guys are out there

[16:21] selling index universal lives and trying to be these big ISO index universal lives when the simplicity is this, guys,

[16:28] is selling policies is beautiful, but getting overrides is a prettier future for you.

[16:33] So to sell whole life is absolutely the smartest strategy you could possibly come up with and selling a thousand policies.

[16:42] I sold 2,800 policies in my career, right?

[16:45] And that doesn't sound like many.

[16:46] I got guys that sold a lot more than I have, but not at the numbers that I have.

[16:50] But when I'm able to budget it, tell these individuals that it fits into the budget at

[16:54] 100, 200, 300, 500, 1,000 premium, because I built the value to the owner who's living

[17:00] still, why do I want to buy something that I don't know that I don't understand the value

[17:04] of it because I'm still alive.

[17:05] I'd like to see some value while I'm alive to it.

[17:07] And then if God forbid, yes, I pass away, that my family has enough time bought by cash flow coming in.

[17:14] And a lot of the death benefits I've also turned into annuities for an income for the living too.

[17:20] So there's many sales opportunities, but you have to structure this correctly and make sure that years ago,

[17:26] bottom line, final expense was the big one, man.

[17:28] And a lot of these guys today have overrides coming in at anywhere between 20, 50, 100, $200,000 every single month

[17:37] because they did nothing but stick to final expense life insurance.

[17:40] And I think for me, for these young cats today,

[17:42] that's the smarter move to get your future taken care of,

[17:46] to have security and a pension of your own.

[17:48] You mentioned a few different tools that you use,

[17:50] including, I think you mentioned Best Plan Pro.

[17:53] What other tools do you use and how important are they

[17:57] for you to be able to do your job?

[17:59] A tool would be something like, you know, even if I may, just failure.

[18:03] You know what I mean? Failure is a tool.

[18:06] If you can fail enough and get enough pain from that, you're actually going to make the adjustments necessary to say it differently, do it differently. So, you know, failing forward, and you must do that. But some of the tools that just make your job easier are going to meetings like this. Listen to these podcasts. The number one thing that you got to do is have your motivation, your attitude equals your altitude. And without that, your structure is bond.

[18:32] you will definitely not make it because I'm telling you right now, I've had my wife want to

[18:36] leave me. She said, get a job. Nobody understood what the hell I was talking about. Stop being an

[18:42] entrepreneur, go get a nine to five and pay the bills. And it ends up that way. And it becomes a

[18:47] lot of stress on you. So when you can get past that, so some of the tools you have to have as

[18:52] leaders or readers, work on yourself harder than anything, use things like best plan, pro FX quotes,

[18:58] things like that. Use the carriers. Some of the tools that you need to use is calling the carrier

[19:03] and understanding what that product does and how far you can push it and not push it. So it's safe

[19:09] for the individual to have for years to come and it's not going to fall off the books. Use the

[19:13] carriers, make the calls, call the existing life insurance companies that they already have. Find

[19:18] out if that product's any good. Because again, if anybody understands cost of insurance, the index

[19:23] universal lives, they're going to know that their policies that were created 15, 20 years ago, even

[19:27] 10 are eventually going to fall off the books because they were underfunded yeah i think that's

[19:31] the really big difference also between life and pnc right it's the life insurance game is a

[19:36] game over several decades with you know a policy that will hopefully cover you for the next couple

[19:41] of generations and that's just not the case with with pnc at all for me you know for me i never

[19:47] was really really introduced to it in a manner of which it was it wasn't big like it wasn't something

[19:53] And I think five or seven years into my career that we started hearing about it.

[19:57] But it was like, you know, that all came about with people that were just new to the industry.

[20:03] And then, see, when you're new to the industry and you see an ad online, you don't even know that there's other options out there.

[20:09] You just think, like, you don't even know life insurance.

[20:12] So you're like, oh, this company has these carriers.

[20:14] So that must cover everything.

[20:16] You know what I mean?

[20:16] Are there particular things, like particular lessons that you wish you would have known earlier or something, you know, you can draw from those 16 years where you said, you know, if I wanted to give my younger person some advice, this is what I would give them.

[20:28] Stick out. Don't be comp hungry, right? Try to get what I can out of these individuals and understand the difference between somebody really making money selling the products versus somebody sitting in an office MLM in the industry.

[20:41] So I wanted to do a little of both, but the best avenues I took was to get my own numbers in place so I could prove that it worked for me and then have braggadocious rights to teaching people to do it because it worked for me.

[20:54] And look at my lifestyle now, right?

[20:55] And it really was that change that brought more people to me in a career that, you know, whether they were failing at another organization or that they were just new to the industry or they were veterans and they couldn't ever come up with the numbers that I was able to do.

[21:10] The problem is that Jason can sell the way Jason does, but I had to find a way to make it duplicatable.

[21:16] And these days, it's a lot easier to teach my strategies because of all the advanced markets now compared to when I was doing this.

[21:23] I was selling annuities 15 years ago.

[21:26] I started like right out of the gates.

[21:28] And for me, it's just making sure that you get your back and make sure that if I could tell myself something, it would be to stick it out.

[21:34] Make sure that you stay the route.

[21:36] Because I had times where I would get in and out too.

[21:38] I'd be like, I got to go get a job, man.

[21:40] But it was really on me.

[21:42] It was about my dial sessions.

[21:44] And it was about my sets and sits and doing the job.

[21:47] And then when I was able to delegate it, I finally started making a little bit of money.

[21:50] And I got my girl involved.

[21:52] And once she started setting appointments, it was on.

[21:54] Like, it really worked well.

[21:56] And we took a chance with that, too.

[21:58] You got to have some balls, if you will, because you're going to be scared to pay.

[22:03] Like, we would take the rent money and buy leads.

[22:05] You know what I mean?

[22:06] You had to take a leap of faith.

[22:07] If you could focus on just one major pain point and you could wave a magic wand for that pain point to go away, what would it be?

[22:15] Consistency, persistency.

[22:17] So the consistency to just get that pain gone for once and for all is usually based upon staying consistent with it, driving through the pain.

[22:26] because on the other side, the only way that you can know that you're in the right place

[22:30] and doing, going for the right things in life is usually, you know, there's a lot more pain

[22:35] because everybody would be doing it if it was easy, right? So there's that pain threshold that

[22:40] you've got to drive through. And when you drive through that pain threshold, you on the other

[22:44] side, you start, your brain re-develops itself and, you know, a lot better functionality to it

[22:50] when you get another pain point in front of you. Now you've lost it through the first one, get

[22:55] through the second and third and fourth. Yeah. I mean that I understand. I think my,

[22:59] my question is more, is there a particular type of type of work in your day-to-day job that is

[23:05] the most painful to you? Like what part of your job?

[23:08] Let's say that by all means that it's the dialing, it's the dials all day long. So, you know, having,

[23:14] you know, delegate what you're no good at. God put me on the earth to present this stuff,

[23:18] not dial it and set this stuff up. Right. So, but it's a part of me though. So if I, you know,

[23:23] I could pitch out the scripts and I've developed scripts. You know, Ben, you've requested some

[23:28] information on final expense, life insurance. You remember doing that. I'm the agent that handles

[23:32] that area. I'll be in your area tomorrow at 2 PM. I couldn't say that unless I did that a lot,

[23:36] right? That fast. So the end result is, is that you have to do it. The dials are probably going

[23:42] to be one of the problem areas in somebody's career, but have a good time. Because if you do

[23:46] the math on it, I dialed a hundred times, I made 2000 bucks. Well then let's do the averages on that.

[23:52] And it's like you made like eight, nine, ten bucks a dial, you know, for every dial.

[23:57] If you can visualize it that way.

[23:58] But whatever the case may be, that's a part of the learning curve that you need to get through anyway to get to new release.

[24:04] Because everybody goes through that.

[24:06] Just know this.

[24:06] You're not alone in what you're doing.

[24:08] Somebody else has written that story already.

[24:11] We've all gone through it.

[24:12] That makes sense.

[24:13] So the dialing is the first part, right?

[24:16] That's how you get the leads and how you talk to them.

[24:18] Dialing and dialing, right.

[24:19] And then the next part is you have to give them an assessment, right?

[24:22] You have to get some quotes from carriers.

[24:24] How do you select which, is it the tools that you use?

[24:26] Like how do you select which carriers to go to?

[24:29] Make sure that, you know, if they're tracking this too,

[24:31] like I said, we can get over that tracking sheet

[24:33] and you could probably use it in your name and give it as a free gift though

[24:36] because it's very important that they know.

[24:38] Steady lead order weekly is very important.

[24:40] I don't care if they're older leads, newer leads,

[24:42] whatever you got to do, you got to have steady lead, weekly lead order.

[24:44] To get to the position of presenting the opportunities of them,

[24:48] protecting their families and buying them time for whatever situation they might but my selection

[24:53] process is pretty simple and i'm going to always go back to starting run the beginning let me get

[24:58] out of the way ben and just so i can get you on your way and just really really this will help me

[25:03] understand what we qualify for if god forbid have you ever had cancer heart attack or stroke but once

[25:08] you do those three you're going to minimize what carriers you're going to use the carrier problem

[25:12] is like not that big of a deal guys obviously for final expense we have a new product that's coming

[25:17] out. I will unleash that to anybody that wants to know, Ben, and I'll give it to you right after

[25:23] the podcast and we can develop some reports with others that may want to get on board with this,

[25:28] because this new carrier, this new product is blowing Mutual of Omaha's final expense product

[25:33] out of the water. And for me, final expense is based upon the less premium for the most paid

[25:39] out, right? That's how it comfortably fitted into the budget. So for Mutual of Omaha and then from

[25:46] that point, depending on health and age, you know, what would you use certain carriers for? Well,

[25:50] if they're a smoker, you go to AmeriCo. But to simplify this, if you, you know, if you, if you

[25:55] wanted people with heart issues, most of the time you go to American Amical and smoker rates,

[26:00] they're pretty good. And then if it's a high weight chart, you have royal neighbors because

[26:04] they don't have a high weight chart. Long story, the short is, is you go to technology, use the

[26:08] technology. And like I said before, and they should be paying us to give this out there. But

[26:12] If you go to Best Plan Pro or FX Quotes, you're going to have the ability to just type in the information, the age, health, get the health issues out of the way, type it in.

[26:22] Your carriers will pop up at once and you'll know that for the amount that you want or vice versa, you can put the debt benefit amount in at the premium of what it will cost.

[26:32] It's the simplest way I can give it because there's so many different things you're going to run into unless you know the medicational scripts per carrier and per product.

[26:42] Like it's no way, you know what I mean?

[26:44] Don't do it.

[26:45] Just simplify it, guys.

[26:47] Really, just use the technology.

[26:49] Do you need an appointment with those insurance carriers?

[26:51] You would need to have appointments with these life insurance carriers to put them into the,

[26:56] you can put those, you don't need those carriers to use that technology.

[27:00] You don't need to be licensed with the carriers.

[27:03] You just put which carriers you use in the technology.

[27:07] But to sell them, yeah, you would obviously need to be licensed with that particular carrier.

[27:12] But to get quotings, quoting tools out, you don't need that.

[27:15] You just put it in the Best Plan Pro.

[27:17] It has a lineup of carriers that you would select that you would use.

[27:22] And then it'll tell you what the premium will be or the death benefit versus premium.

[27:26] And based upon the health of the individual, I've had cancer, I take this.

[27:33] I have diabetes, I take this.

[27:35] And then it's going to pop up all the carriers that will accept it.

[27:38] And then it's going to lash out the ones that won't.

[27:41] it'll cancel them out.

[27:42] Thinking of the next five,

[27:44] 15 years, Jason,

[27:44] what does success look like

[27:45] for you personally?

[27:46] Great question

[27:47] because it used to be

[27:49] it was six figures

[27:50] and it was seven figures

[27:51] and it was seven figures plus.

[27:54] And then it was all of the,

[27:56] nothing but the math involved.

[27:58] Let me tell you

[27:58] where I'd like everybody to be.

[28:01] I'd like everybody to be

[28:01] in a comfortable place

[28:02] where their overrides

[28:04] became their pensions one day

[28:07] of a minimum of $10,000 a month coming in.

[28:10] For those stay-at-home moms and things like that that really want to have some time to develop relationships with your family and your kids or families in general and want to have extra income, you can do this depending on your wants and needs and what makes you happy.

[28:25] But if you don't do it right, you're going to have the struggles and headaches that come along with it.

[28:29] So the journey sucks.

[28:31] You know what I mean?

[28:32] So I try to coach people so it's so easy out of the gates that they really start selling week one.

[28:37] And I do it, Ben, I do it on a 50-50 basis too. So I will tell people to call me. Let's set an

[28:43] appointments. You set the appointments. I will close the deals for you. We'll do a 50-50 and

[28:48] then we'll get you lead money. And now you've seen a proper presentation, maybe once, maybe twice,

[28:53] maybe a couple of times. And then, but you know how to do it now because when I was coming up in

[28:57] the ranks that you were next to your manager sitting at a kitchen table and listening to them

[29:03] to provide the information necessary to sell that policy right there on the spot. I visually was

[29:08] there. I was a part of the sale. I was there. These days, it's all different. You know, it's just not

[29:14] the same. Sitting there with the people, it gets you very close to the individuals you're working

[29:19] with too. Hey, would you like any coffee, Jason? Yeah, sure, Mrs. Jones. You want something to eat?

[29:25] Yeah, sure. I never said no to anything. If you think about where you are now, what do you

[29:31] person you want for yourself in the next five to ten years. I'd like to do is I'd like to I'd like to

[29:35] develop one of the one of the best coaching programs in the country for this and globally to be honest

[29:41] with you. It developed at gatormousesales.com was developed to transition life insurance agents from

[29:47] final expense any kind of life insurance sale to selling annuities. So I created one of the first

[29:52] artificial intelligent coaching technologies out today and it's it works like a charm but for me it

[29:58] would be to get more technology like that.

[30:01] And Harsh, you're working on a role-playing technology

[30:03] for different companies

[30:04] and then role-playing technology

[30:06] just for agents in general.

[30:07] I want to get this kind of stuff out there

[30:10] because there's so much failure out there,

[30:12] but people can succeed,

[30:13] but they have the wrong mentors.

[30:15] They have the wrong individuals.

[30:16] So what I'd love to be able to do is build,

[30:19] I'm going to build one more organization too, Ben.

[30:21] I'm going to build one more company, okay?

[30:23] And we're looking to develop that

[30:25] and I'm going to build the final expense department now,

[30:27] But it'll also be the transitional place for people to come from final expense, life insurance, mortgage protection, things like that, to transition to the, you know, the $28 trillion in retirement money that's out there or whatever the number may be today, that they have a piece of that puzzle too, because that's big.

[30:45] That's big numbers that everybody's leaving on the table when they sell final expense life insurance.

[30:49] So for me, it's to build a nice, a great coaching company out of those studies and then to write a couple books and then to be able to talk and speak on some stages around the world and then be able to build one more company and just, you know, develop.

[31:03] Really, the number is $100 million.

[31:05] I'd like to build a $100 million company.

[31:07] It's always been my number.

[31:08] It's a nine-figure.

[31:09] Nine-figure.

[31:10] Nine-figure.

[31:11] Yeah.

[31:11] Yeah.

[31:11] And my buddies sell their companies for nine.

[31:14] Tyler Reese at Innovative Insurance Brokers sold to Humana for that.

[31:18] I had a part of that, and I left the company.

[31:20] I was supposed to get 5% of that company.

[31:22] And I walked away from it, beating on my chest as a young man,

[31:25] trying to build my own IMO.

[31:27] Stupid moves like that.

[31:29] That's why I said earlier in this podcast, I said, stay with it.

[31:32] Once you find a place, don't go jump in the fence for comps that they're not going to give you.

[31:39] Stay with the crew.

[31:40] Go through the hard times and just stick it out, man.

[31:43] But at the same time, if there is a better opportunity, know why you're choosing it.

[31:47] You know, Jason, what do you want to share?

[31:49] Hey, listen, I just want to let everybody know that I'm here to help.

[31:52] I want to let everybody know that if you want to, I'd really highly suggest that everybody

[31:55] try the advanced strategies that I've developed in the AI.

[32:00] So if you go to gatormousesales.com, gator, like an alligator, gatormousesales.com, you'll

[32:07] be able to use the advanced market sales strategies that I put together to help you

[32:11] go from final expense salesman to top annuity producer. I promise you it works. It's an incredible

[32:17] coaching strategy and technology that I've developed. And then I am also coaching agents

[32:22] basically daily. I've had a flood of people come to me over the last year, knowing I'm back in the

[32:29] industry and really coaching again. I took about two years off. So I'd like to get everybody my

[32:34] telephone number. If you want to reach me at text me, join 904-850-4955. Take a look at one free

[32:42] session with me coaching and I can help you along your journey and career. And let's get you to a

[32:47] six-figure income. Jason Ferraro, thank you so much for joining the podcast. This was eye-opening

[32:52] for me. Thank you so much for having me. Anytime, brother, anytime for you. Thanks so much, guys.