nylic published
TRANSCRIPT
ReviewTHE NYLIC
2016: A Moment in Time, Poised for Growth
A Conversation with Mark Madgett
Cultivating Career Growth • The Rewards of Healthy Living
Spring 2016
A Defining Moment: Poised for Growth
2 • New York Life The NYLIC Review • Spring 2016
RightBridge Stay in touch with prospects and clients using RightBridge. Meeting a candidate, client, or new prospect somewhere? Once you leave, use your phone or tablet to add them to RightBridge, and then send a quick email. It’s also possible now to upload any CSV file of prospect names directly to RightBridge beyond the Project 200 format.
Agency Portal Front Page
SeminarsSeminars can be a great prospecting tool. Presenting a seminar gives you the opportunity to reach multiple people at one time, position yourself as a “subject matter expert,” and gain credibility in your local community.
Agency Portal › Marketing › Seminars
Social NetworkingBuild your brand and grow your business. Keep in touch with clients while developing warm prospects and referrals.
Agency Portal › Marketing › Social Networking
Centers of InfluenceA center of influence (COI) is any highly respected member of a group or com- munity who has the opportunity to influence the behavior of others. They can be one of the most valuable sources of referrals an agent can have. Commonly, these are attorneys and accountants, but they are not solely limited to these professions.
Agency Portal > Resources > Marketing > Markets > Working with Centers of Influence
Ideal CalendarMake the most of your time. Set a schedule to make calls, return emails, and perform tasks that will form habits and make you more productive. You can achieve this by outlining and sticking to a calendar that best suits you.
Agency Portal > NYLIC U Online
Tom Robinson Study GroupIndustry studies have shown that agents who participate in study groups have greater long-term retention, as well as increased case rate in their businesses. The Tom Robinson Study Group Program provides help for agents to learn how to establish and operate a study group.
Agency Portal > Career Development > Study Group Resources
Nautilus ResourcesThe Nautilus Group® provides dedicated support in the advanced markets with a staff of attorneys, CFPs, and CPAs. Nautilus services and staff are available only to its members, who currently number approximately 220 of New York Life’s top agents.
Agency Portal > Resources > Services > The Nautilus Group
Financial & RetirementIncome Needs Analysis The Financial Needs Analysis (FNA) is an excellent resource to uncover client insurance and investment needs. The The Retirement Income Needs Analysis (RNA) tool can help you engage with your clients and pros- pects on the subject of retirement, help them prioritize retirement needs, and calculate their income needs in retirement.
Agency Portal >Resources > Products > Annuity Resources > Door Openers > RNA Tool
1040 Tax Return Marketing Kit Guide your clients and prospects through a review of their latest tax returns and drive conversations about replacing income, saving for retire-ment, reviewing estate and legacy planning, and more.
Agency Portal >Resources > Products >Life Insurance >Sales Concepts > Tax Diversify
ResourcesMarketing and outreach are vital to developing your business. Below are just a
few of the resources that are key to driving sustainable activity.
Money Talks.Helping Your Children Make Smart Financial Choices.
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New York Life The NYLIC Review • Spring 2016 • 3
hile there’s no question the pace of change in the business world
is accelerating, much of what’s occurring in the market place today has deep roots. One must sometimes connect the dots across decades to understand cause (decisions) and effect (outcomes). That’s especially true for our industry, where significant developments tend to play out over many years.
Earlier this year, MetLife reported they were exiting the U.S. retail life insurance and annuity business. More recently, they announced the sale of their last vestige of agency distribution — the Premier Client Group of 4,000 advisors — to MassMutual.
“End of an era,” declared one industry consultant. “Death of the Insurance Salesman,” read The Wall Street Journal headline, riffing on the title of Arthur Miller’s 1949 play. And indeed, in some respects it’s hard to imagine that these central components of MetLife’s identity and strategic foundation since they opened in 1868 will no longer be there.
But did all of this really just suddenly come about?
If you read the joint press release from MetLife and MassMutual, and The Wall Street Journal article, you would likely walk away with that conclusion. Both point to current events and market dynamics as driving forces — from changes in the economic, regulatory, and consumer landscapes; to the expense of agency distribution compared to using independent advisors, stockbrokers, and even experimental touchscreen kiosks at
Walmart stores. The Journal even put a seemingly definitive starting point on Met’s actions: “What set MetLife’s decision in motion was its designation by the U.S. as systemically important under the 2010 Dodd-Frank financial-regulatory overhaul.”
I guess it’s only natural to want to connect up current outcomes with current events. That’s especially true when reporting the latest news. But when you look at the bigger picture, the truth is that the seeds of every- thing blooming today were planted more than a decade ago when MetLife demutualized.
In 1999, the year before demutualization, MetLife was at the top of our industry. They were number one in U.S. individual life market share driven by a 10,000+ strong career agency force.
But as we’ve discussed many times over the years, there are fundamental differences between publicly traded and mutual life insurers. The shareholders, not the policy-holders, are the primary constituents — and they want maximum return on their invest-ment, quickly. That puts pressure on a public company to deploy capital for quick returns, instead of deploying it to back long-term policyholder guarantees. It also tempts them to underinvest to further bolster today’s bottom line.
MetLife ultimately succumbed to these public company pressures. They shifted their focus to the short-term expectations of shareholders. And they gave in to the
allure of “high” returns requiring less capital by offering products that eventually were proven to contain underpriced benefits and guarantees, moving away from capital- intensive products such as whole life.
Equally significant, MetLife disenfran-chised their career agents. Their perspective went from seeing agency as an investment in long-term profitability to seeing it as an “expense” that paid off way too far down the road. They lost sight that the value of a career system is derived from shared prosperity between the company and its agents. After all, loyalty is always a two-way street.
Today, MetLife has gone from being a powerhouse U.S. life insurer to being out of the U.S. retail life insurance business entirely. And they’ve jettisoned their remaining agents, who in reality were already focused on other companies’ products, as evidenced by Met’s life insurance being only a small percentage of their current sales.
When we talk about our four foundational strategies at New York Life, we always stress the importance of the arrows — the inter-connectedness that delivers our organiza-tion’s core strength in the market. But using them as a filter to view what’s transpired at MetLife since demutualization, we also see what happens when one or more of those quadrants disappear, and that interconnect-edness breaks down.
MetLife and the press point to the changing landscape and SIFI designations to explain what’s going on today. But that’s only part of the story. We can connect the dots.
To share your thoughts on this
topic with Ted, send an email to
Cause…and Effect
A M E S S A G E F R O M T H E C H A I R M A N
They lost sight that the value of a career system is derived from shared prosperity between the company and its agents. After all, loyalty is always a two-way street.
— Ted Mathas
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4 • New York Life The NYLIC Review • Spring 2016
InsideSpring 2016
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F E A T U R E S
12 Case Study: The Underinsurance Impact Agents know that for a financial plan to work effectively, all aspects of a family’s finances must be accounted for. Chairman’s Council Agent Joe Di Bella is helping a widow put together a new plan after a failure to plan as a couple.
14 The Power of the Nylic Contract: Aligning Interests, Rewarding Consistency A quick look at how consistent life production can make a big difference.
34 Healthy, Wealthy, and Wise Broad solutions for the competitive retirement marketplace.
15 A Defining Moment: Poised for Growth
16 A Conversation with Mark Madgett The new Head of Agency talks about his vision for the future, and why we are poised to enter a golden age of productiv-ity and recruiting.
22 Cultivating Career Growth Six agents who jumped a Council level in 2015 reveal the steps they took that helped them grow.
29 Inspiration for Growth What’s on your desk? Agents share the quotes that keep them going day after day.
30 Healthy Living Has Its Rewards A new preferred risk class makes life products more attractive to prospects with healthy habits.
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S P E C I A L S E C T I O N
New York Life The NYLIC Review • Spring 2016 • 5
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32 Seminars Help Keep Prospects in the Pipeline When it comes to generating name flow, getting appointments, and driving sales, the seminars agents have at their fingertips can work wonders, and agents at every phase of their careers make use of them.
C O L U M N S
2 Resources
3 A Message from the Chairman
6 News BriefsDon Ross remembered • Joe Torre shares championship management techniques • $2,000 FYC life policy purchased in 1935 nets 101-year-old significant cash value • Managers on the Move and more.
9 The Big Idea Get the attention you deserve.
10 Social Networking Jenifer Epstein shares her social savvy.
36 New Orgs on the Rise
38 Living Legacy Connie Scheuer celebrates 60 years.
39 Senior Nylics
40 In Memoriam
42 Calendar of Events
43 AAC Corner
“There is nothing more NYLIC than The NYLIC Review.”
— Dudley Dowell, President, 1962–1969
Published since 1933. Printed in the U.S.A. by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 (212) 576-4586,
[email protected]. Published by Insurance and Agency Communications, Elizabeth McCarthy, Senior Vice President; Margaret Dembofsky, Vice President; Douglas Davin, Corporate Vice President.
The NYLIC Review Staff: Managing Editor: Margaret A. Daly
Contributors: Alex Barbieri, Chris Falvo, Lynn Hoogenboom, Katie Karpenstein, David Levin, Roger Savitt, and Les Young
Production: Darren Johnson
Design: Huber Design Group, www.huberdesigngroup.com
Photography: Lynn Saville
Internal Use Only. No portion of this publication shall be used with the general public. www.newyorklife.com
The NYLIC Review | The Field Magazine for Agent Sales Success
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6 • New York Life The NYLIC Review • Spring 2016
Donald K. Ross Remembered Donald K. Ross, the former chairman, president, and CEO of New York Life, has died. Ross was instrumental in leading the company through the tumultuous 1980s, which included the stock market crash of 1987, and oversaw the company’s transfor-mation from traditional insurance company to major player in the financial services arena.
Ross joined the company in 1948 as an investment analyst following his 1946 graduation from Yale and the Harvard School of Business Administration in 1948. He was promoted to senior vice president, leading the investments department in 1970 and named an executive vice president in 1974.
He was elected to the board in 1978, becoming vice chairman in 1979 and two years later became chairman and CEO, adding the president’s title in 1987.
It was not an easy time to take the helm. In the early 1980s, the industry was under-going drastic change with Whole Life becoming less popular and many insurers abandoning career agency. There was a severe global economic recession. In the U.S., unemployment hit historically high levels, there was double-digit inflation, banks were failing, and there was a crisis in the savings and loan industry.
It was a challenging time for the company, but with Ross’s investment management
experience and unflappable personality, he was the leader the company needed.
“Our approach has been to stick to insurance and investment opportunities where we have some key resources and skills on the sales, investment and analytical sides,” Ross recalled in a 1990 interview. “It’s a fallacy to think a good management team can necessarily take another new business in which they have no experience and, just because they are good managers, make a success out of it . . . By sticking to what we know, we have been able to avoid some of the mistakes others made.”
During his tenure, baby boomers were moving into their prime buying and investing years, computers were becoming common-place at businesses, we invested in our own line of mutual funds, the MainStay Series, and unveiled new insurance products.
Ross retired as CEO at the age of 65 in 1990, but remained on the board of directors for five more years.
“In a single decade (Ross) helped (New York Life) become one of the nation’s leading diversified financial institutions with unassuming grace and strength of charac-ter,” the board of directors wrote in a resolution upon his retirement. “He made management an art and foresight a science. Along the way he demanded integrity.
Championed quality. And became the role model for his own advice: Be the best!”
Ross was a leader during the early days of the AIDS crisis, serving as co-chair, along with actress Elizabeth Taylor, of the 1987 American Foundation for AIDS Research (AmFAR) awards dinner, underwritten by the company. The dinner was attended by President Ronald Reagan and his wife Nancy. Under Ross’s leadership, New York Life was one of the largest and earliest corporate supporters of AIDS education and research.
He served as a trustee or on the board of directors of nonprofits and companies, was an ensign in the U.S. Navy, and a father of four. n
Donald K. Ross
The climb continues for the Dallas General Office, as it recently claimed the No. 2 spot on the Dallas Morning News 100 Top Places to Work in 2015 for midsized companies. This marks the third time the Dallas Office was featured on the list, rising two spots from No. 4 in 2014. Managing Partner Mike Scovel was praised for fostering a culture rooted in family values and personal growth. “If our people put their emphasis where their passion is, that ultimately translates into being better with our clients and better in the community,” Scovel said.
Members of the Dallas Office (pictured) accepted their award as the No. 2 Top Place to Work in 2015 for midsized companies. n
Rising Stars
From left, Dedrick Adell, Agent; Amber Rose, Latino Market Manager; Belinda Cantrell, Contracts & Licensing; Michael Hale, Agent; Dee Dee Bates, Partner; Joanne Madar, Agent; Laura Sanders, Development Manager; Chris Gougenheim, Agent; Paloma Alvarado, Agent; Sergio Saldivar, Agent; TJ Woods, Partner; Robin Westmoreland, Contracts & Licensing; Tracy Wood, Agent; Mike Scovel, Managing Partner.
N E W S B R I E F S
New York Life The NYLIC Review • Spring 2016 • 7
Advice from the DugoutIf you’re a manager looking to bring out the best in your agents, you couldn’t do better than listen to Hall of Famer and former New York Yankees Manager Joe Torre. He was the featured speaker sponsored by New York Life at GAMA’s annual Leadership and Management Program conference in Las Vegas in March. Not only did he share wisdom on how he shaped up his World Series Champion teams, but he even had time for a little one-on-one with VP Michael Lackey, Field Training & Development, who interviewed him on leadership development. n Joe Torre with Michael Lackey
Loving LifeElmer Peter August Thill purchased a whole life policy back in 1935, when he was working as a New York Life agent out of the Los Angeles Office. Thill, now 101, still makes an annual call to his friend Earl Lovett, a compliance officer at the Fullerton Office, to discuss his policy and his options for the dividends he receives. What started as a $2,000 face amount now has a significant cash value build up that is much more than its original face amount.
“At 21 years old, I thought it’d be a good idea to buy a little insurance. It’s been a good decision. I’ve accumu-lated it. It’s improved in value through the fact that we had dividends1 every
year,” Thill says.An agent
during the Great Depres- sion, Thill only spent a few years with New York Life before
moving into the property and casualty business. He also became a licensed real estate broker. He maintains that license to this day. Thill once sold a 10-acre parcel of land to Disney as part of the original purchases for the Disney- land amusement park. Born, raised, and still residing in Anaheim, California, with his wife, Genevieve, 100.
At his centennial birthday cele- bration, Anaheim Mayor Tom Tait asked Thill the secret to his longevity. He responded, “You don’t die, that’s all.” n
Study Group ChallengeStudy groups across the country are in the running for an unprecedented challenge that will award group members based on life productivity, and growth during the first half of 2016. Up to $15,000 toward the costs of the study group’s meeting is on the table for the top group in life FYC and the top group in life FYC growth. Registered study groups that earn 10% life FYC growth will qualify to receive $2,500 toward the cost of their meetings. Registration for the challenge closed on December 31, 2015, but the qualification period doesn’t end until June 30, 2016. Full details of this incentive are available on Agency Portal>What’s Important Now (WIN)>Agent Incentives. n
Elmer and Genevieve Thill
On their wedding day
Among the Challenge leaders is the Summit Study Group — all Chairman’s Council or higher — gathered for its first quarter meeting at the Home Office, which included meetings with senior manage- ment. (Left to right) Frank Dolph, South Florida Office, CVP Gerry Gaeta, Scott Alexander, San Fernando Office, Greg Genovese, Long Island Office, CEO Ted Mathas, Mitch Rosenberg, San Fernando Office, 2014 Council President Jim Adkins, Greater Washington Office, Steve Mindak, Arizona Office, 2015 Council President Rick Paulsen, Stockton Office. (Not pictured: Jay Bond, Seattle Office).
1Dividends are not guaranteed.
8 • New York Life The NYLIC Review • Spring 2016
N E W S B R I E F S
Managers on the MoveManaging Partner, Senior Partner, and Partner Promotions and Appointments (Nov. 2015 –March 2016)
Mike Butensky Senior Partner Long Island Partner Long Island
Robert Campbell Senior Partner Tuscon Partner Tuscon
Michael Fisher Managing Partner Illinois Managing Partner West Texas
Chad Franks Managing Partner Mississippi CVP West Central Zone
Michael Grinnon CVP West Central Zone Senior Partner Northern Virginia
Michael Hardin CVP South Central Zone Senior Partner Montgomery
Christopher Jacoby Senior Partner Kansas Partner Kansas
Keith Janca Managing Partner New Hampshire Senior Partner Orange Coast
Bradley Jensen Managing Partner Great Plains Managing Partner Mississippi
Minh Van Truong Senior Partner Orlando Partner Orlando
Neil Wagner Senior Partner Boston Partner Boston
N A M E N E W P O S I T I O N P R E V I O U S P O S I T I O N
The Brody BunchIn December 2015, members of Brody family of agents — spanning 100 years of service — celebrated with the Greater San Francisco Office — existing and former agents and managers. Standing (Left to Right): John DeBuono (Former MP), Dave Sargent (Former Sr. Development Manager), KB Sareen (Former MP), Bill Regan III (1990 Council President), Lee Gammill (Former Vice Chairman and MP), David Brody, Chris Brody, and Helen Sargent (Dave Sargent’s spouse). Sitting (Left to Right): Kevin Choi (MP), Ed Middendorf (Former Chairman’s Council Agent), William “Bill” Brody, David Walsh (Agent), Kathleen Emerling (Agent), and Yvonne Villegas (Brody’s Assistant).
Reunion TourWhenever and wherever a group of Nylics gather, the feeling of friendship is palpable. That was certainly the case when managers met at the National Kickoff Meeting in Orlando, Florida back in January. For four managers (from left), Scott Della Penna, Managing Partner, Northern Virginia; Craig Forman, Managing Partner, Richmond Office; A. David Erland, Senior Partner, Seattle; and Tim Miller, Senior Partner, Boston, the event marked the silver anniversary of the Home Office Partner School class of 1990. Though many time zones apart, they remain friends and supportive colleagues. Congratulations on your silver anniversary! n
New York Life The NYLIC Review • Spring 2016 • 9
That one-on-one approach is just as
important in helping newer agents become
successful. And so Sales Development
Managers — me included — are spending
less time in the classroom and more time on
appointments with agents or connecting
them with established agents for joint work.
Joint work simply makes a huge difference
in your ability to have productive conversa-
tions with prospects.
Ryan Southwick is a great example of the
benefits of working with an SDM and
established agents. Now in his second year,
he achieved President’s Council in his first
year and is tracking for his second President’s
Council before June. Ryan has been on
appointments with me and with a few other
agents in the office. He takes the training
and then learns from the experts on the job.
He’s extracted the very best from me and
those agents, and he’s doing really well. I’ve
never seen anyone so coachable. Some
agents are very prideful. I was like that.
Challenge yourself to be open.
And from my own perspective, I can tell
you how short-sighted it is not to take
advantage of joint work. I started out as an
agent in the Arizona Office in 2008 when I was
in my mid-30s. I’d already had a career as a real
estate broker/owner and was pretty confident
I knew what I was doing as a salesperson.
When I quickly found myself in over my head,
I stubbornly didn’t ask for help as much as I
should have. It’s obvious to me now I should
have been more open to joint work.
Take InitiativeThat’s really what it takes to develop as an
agent. Follow the training, be open, and take
the initiative to ask for help. I’m there for
the agents in our office, but it’s their
responsibility to make the first move.
I’m a coach. The SDMs in your office are
your coaches. Established agents are
generally willing to be coaches as well. Ryan
certainly found agents willing to help him.
Start by watching and learning from the
facilitators in your classes. Find out from your
Partners who they recommend as joint work
resources. You’ll find each has different
strengths, and you’ll be able to learn some-
thing different from each of them.
Building TrustAgents who reach out to me, make the
appointment with the prospect. Before the
appointment, we’ll do a lot of work in the
office, including role-playing. I might quiz the
agent on product or how to ask or answer
certain questions. I run the initial appoint-
ment, but as the relationship evolves, my
role diminishes. The agent participates even
at that first meeting. If I see she’s not taking
any notes, I might give her a nudge, or tap
the notebook discreetly.
The best part is the drive back to the
office. We discuss what went well, and then
identify what can be improved. This feed-
back loop creates a much higher level of
self-awareness in the agent. And just like it’s
important for prospects to trust agents,
it’s important for agents to trust me. If we
can’t give each other feedback, it’s not a
very open relationship.
The worst thing you can do is to skip the
field coaching from your SDM. I recently
went on an appointment with a second-year
agent. On the way back, he kept saying over
and over, “I can’t believe I waited so long.”
I told him to stop kicking himself; he was
doing the right thing now.
SDMs are really only there to help, so
if you want to move forward — maybe you
want to make Council or increase your
productivity — reach out to your SDM. n
e know how impor-
tant it is for people to
work with a profes-
sionally trained agent who really
understands their need for life
insurance, and recommends the
right product and face amount.
W
T H E B I G I D E A
The Best Support You Already Have
Samantha Jackson-Kittle, CLU, CLTC, LUTCFSenior Development Manager Greater Pasadena Office
Your Sales Development Manager Is Your One-on-One Coach
It’s important for prospects to
trust agents, it’s important for
agents to trust me. If we can’t give
each other feedback, it’s not a very
open relationship.
— Samantha Jackson-Kittle
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10 • New York Life The NYLIC Review • Spring 2016
21st Century Prospector Jenifer Epstein
Executive Council Agent
Jenifer Epstein is a self-taught
social media maven eager to
share her secrets.
S O C I A L N E T W O R K I N G
Executive Council Agent Jenifer Epstein sets up her social messages in Hearsay, and then adds daily lifestyle messages, including a birthday wish for the company’s April 12 anniversary last year.
f you’re available, I’d like to invite you to a
free networking event you can access 24
hours a day, seven days a week, 365 days a
year, from anywhere in the country.
It’s such fertile prospecting ground I qualified for Executive Council
in my first six months as an agent, conducting 95% of my business off
this one networking opportunity. And right now, this business stream
has me prorata for President’s Council.
I’m sure you guessed I’m talking about social media — LinkedIn in
particular. But I’m not occupying this space in The Review to simply tell
you to get onboard. Let’s face it, if you’re not on social,
you don’t exist to many of today’s best prospects. What
I can provide is a real life example of the success you can
have if you embrace and commit to social media and its
unique ability to brand and market yourself to prospects
and clients.
Full disclosure: I’m averse to cold calling on the phone.
It doesn’t fit my personality, nor the type of client I’m
trying to attract. But I’m not opposed to getting out in my
community and making as many connections as possible.
In fact, I prefer building a face-to-face rapport with
prospects before making a connection online. After all,
social networking is not two screens talking; it’s two
people conversing through social media.
People do business with people they know, like, and
trust. There is a natural, and socially acceptable, progres-
sion to meeting someone in person, taking that relation-
ship online, and getting them to meet with you again. At
your next networking event, have three to five meaning-
ful conversations with new connections. Jot a few notes
I
New York Life The NYLIC Review • Spring 2016 • 11
on the back of each person’s business card. When you get home, find them on LinkedIn and use your notes to reintroduce yourself and establish an online connection. Ask relevant questions in a caring tone. Show the same personality you would if it was a face-to-face conversa-tion. Social networks allow you to communicate with someone on their terms, while simultaneously branding yourself in a noninvasive manner.
Be Yourself and Be StrategicHearsay is a wonderful tool that streamlines my process and provides me with good content for my three net- works — LinkedIn, Facebook, and Twitter. But to build your brand, your social media presence must have a personal touch. Staying relevant to your natural market means posting content that speaks to its needs. I encourage you to take a few minutes and list five key characteristics of your ideal client — people you want to attract and do business with. Is the content you are currently sharing important to that audience? Will it help you meet your current business objectives?
At the start of every month, my assistant, Marie, and I meet to discuss and schedule my content for the entire month based on our focus (rollovers, term conversions,
etc.). We then use Hearsay to schedule posts three times a day to LinkedIn, Facebook, and Twitter. After those two hours at the beginning of the month, we don’t touch it again.
From there, I’ll pepper my feeds (mainly Facebook) with personal content digital mar-keters refer to as “lifestyling.” These are posts about what’s going on in my daily life. For example, I recently shared a selfie from a conference room at a local college while I was on campus conducting open enrollment for their employees. I accompanied the photo with a message letting the employees know how eager I am to take care of them.
How you present yourself on social media is your brand. I like to think of my brand as not only professional, but intelligent, enjoying my career, and presenting myself as someone people can work with and trust.
I use social media because I want to remain relevant, and it helps put me in front of the people I want to do business with. n
‘‘ Social networking is not two screens talking; it’s two people conversing through social media.
— Jenifer Epstein
Social Language Social LanguageActionSocial Signal Social Signal
“ Congratulations on the new role!”
“ I may know someone for that role.”
“ Congratulations on graduating/retiring.”
“ Happy b-day.” “Happy anniversary!”
Social Signals and Responses
“ Congratulations/ So excited for you!”
People send life event signals via social networks everyday. Make it a habit to recognize the signals and respond appropriately to get to an in-person meeting. Check out Agency Portal > Marketing Resources > Social Networking for more tips and ideas.
“ Congratulations on the move! I know a good realtor.”
12 • New York Life The NYLIC Review • Spring 2016
Facing the Gap
Fred, 48, died of an embolism on December 27, 2015, about a month before Di Bella’s scheduled meeting with Barbara, 46. In addition to Barbara, Fred left behind a son from a prior marriage, and a shortfall of life insurance
coverage to truly meet his family’s needs. Barbara now finds herself among the 47% of widows who wish their spouse had purchased more life insurance, according to New York Life’s Widow Study. And her hesitance to meet with Di Bella and share her personal financial information places her squarely among the 30% of widows who wish they’d had detailed discussions about what might happen financially if one’s spouse passed away.
“Based on my current analysis, she has enough assets to last until about age 85. This makes both Barbara and me uncomfortable. It would have been much different had Fred been insured for a lot more,” says Di Bella, a Court of the Table and Lifetime member of MDRT.
Fred became a client of Di Bella’s through a referral after receiving a lawsuit settlement, and he enlisted Di Bella’s services for fee-based financial planning only (offered in his capacity as an Eagle financial advisor). He believed his life insurance needs had been met, having previously purchased insurance through another company. Di Bella provided a series of financial reports throughout his time servicing Fred’s investment account. Repeatedly, Di Bella stated his unease with the incomplete nature of the analysis, given the lack of information provided about Barbara’s finances.
“He purchased policies from another company, but they were all transactional, not needs based. No one took the time to say, ‘You need to replace your income,’” says Di Bella, who recommended Fred should have about $1.5 million of coverage to replace his $100,000 annual income. “We need to continue to challenge ourselves to write more insurance, because it’s the right thing to do and people need it. Make sure clients have the right death benefit amount.”
Fred previously established a trust for his son, who has special needs, which held assets and policies totaling $510,000. He held an additional $250,000 life policy to cover the mortgage of the house he owned with Barbara — the couple’s only joint asset.
Barbara, who earns approximately $30,000 annually, continues to work to meet her monthly expenses for her home. However, even with Fred’s death benefit she faces a gap between her assets and what she would need to maintain her standard of living.
A new study shows how the financial and emotional burden of losing a spouse brings significant changes to the lives of women.
of women report signi� cant life changes after the death of a spouse—with � nancial concerns at the top of the list.
Widows under Stress—A recent survey found that women are often unprepared for the financial difficulty of losing a spouse.
Among women whose spouses had life insurance when they died, the life insurance proceeds lasted almost two and a half years.
2 in 5 women
0 2 4 6 8 10 12 14
2½ years 14 years
But they wished these funds would have lasted longer (ideally 14 years).
68%
Feeling secure isn’t the same as being secure.77% of women reported feeling secure about their finances before the death of their spouse, but were faced with a very different picture afterwards.
Not savingenough forretirement
Not ableto afford
a vacation
Cuttingdiscretionary
spending
Budgetingfor oneincome
Adjustingto a changein income
01.
55%
34%
46%
32%38%
24% 22%13%
21%
10%
02. 03. 04. 05.
The top �ve life changes after the death of a spouse.
Percentage of women impacted
Percentage of men impacted
of women report they didn’t have
enough life insurance in place to feel
financially secure.
59% of women report they
wish they had some or more life insurance to
help cushion the financial impact of their loss.
47%
Lessons Learned.Here’s what women who have lost a spouse are saying.
whose spouses did not have life insurance report that they struggle to meet basic needs within the first year after the death of their spouse.
&
“ I wish we had saved more.”
“ I wish we had detailed discussions about what might happen financially if one of us passed.”
“ I wish we had a better financial plan in place.”
“ I wish we had organized all our important papers in one location.”
“ I wish we had some or more life insurance on my spouse.”
47% 42% 30%28% 18%
Widows confront years of undue hardship.
Survey methodology - The 2014 survey was conducted by GfK Public Affairs & Corporate Communications (commissioned by New York Life). A total of 897 statistically representative widows/widowers were surveyed. All respondents were required to be at least 18 years old and widowed within the past 10 years. The margin of sampling error is plus or minus 4.5 percent points at the 95% confidence level.
AR06978.RB.102014 SMRU1628951(Exp.11.04.2016)
A new study shows how the financial and emotional burden of losing a spouse brings significant changes to the lives of women.
of women report signi� cant life changes after the death of a spouse—with � nancial concerns at the top of the list.
Widows under Stress—A recent survey found that women are often unprepared for the financial difficulty of losing a spouse.
Among women whose spouses had life insurance when they died, the life insurance proceeds lasted almost two and a half years.
2 in 5 women
0 2 4 6 8 10 12 14
2½ years 14 years
But they wished these funds would have lasted longer (ideally 14 years).
68%
Feeling secure isn’t the same as being secure.77% of women reported feeling secure about their finances before the death of their spouse, but were faced with a very different picture afterwards.
Not savingenough forretirement
Not ableto afford
a vacation
Cuttingdiscretionary
spending
Budgetingfor oneincome
Adjustingto a changein income
01.
55%
34%
46%
32%38%
24% 22%13%
21%
10%
02. 03. 04. 05.
The top �ve life changes after the death of a spouse.
Percentage of women impacted
Percentage of men impacted
of women report they didn’t have
enough life insurance in place to feel
financially secure.
59% of women report they
wish they had some or more life insurance to
help cushion the financial impact of their loss.
47%
Lessons Learned.Here’s what women who have lost a spouse are saying.
whose spouses did not have life insurance report that they struggle to meet basic needs within the first year after the death of their spouse.
&
“ I wish we had saved more.”
“ I wish we had detailed discussions about what might happen financially if one of us passed.”
“ I wish we had a better financial plan in place.”
“ I wish we had organized all our important papers in one location.”
“ I wish we had some or more life insurance on my spouse.”
47% 42% 30%28% 18%
Widows confront years of undue hardship.
Survey methodology - The 2014 survey was conducted by GfK Public Affairs & Corporate Communications (commissioned by New York Life). A total of 897 statistically representative widows/widowers were surveyed. All respondents were required to be at least 18 years old and widowed within the past 10 years. The margin of sampling error is plus or minus 4.5 percent points at the 95% confidence level.
AR06978.RB.102014 SMRU1628951(Exp.11.04.2016)
t took three years to persuade Fred’s wife, Barbara, to
agree to meet with Chairman’s Council Agent Joseph L.
Di Bella, LUTCF, Albany Office. Unfortunately, what
should have been a long overdue fact-finder, had unex-
pectedly become a beneficiary conversation.
The Pitfalls of Planning for Clients in a Second Marriage
I
LessonsLearned.Here’s what womenwho have lost a spouse are saying.
C A S E S T U DY
New York Life The NYLIC Review • Spring 2016 • 13
Running PointIt took three years for Barbara to agree to a meeting with Di Bella, but less than a month following Fred’s passing to understand the need for income replacement. In fact, the two have already discussed putting additional life insurance in place to replace her income. Barbara has also expressed interest in setting up a trust for her children from her first marriage.
The tragedy also gave Barbara new perspective on the value of an agent — especially one willing to take on a leader- ship role in seeing through Fred’s wishes and planning Barbara’s future. Di Bella reached out to both Fred’s attorneyand his trustee to make sure everyone was coordinated.
“Take the initiative. Be the person to bring up meeting with the attorney,” Di Bella implores. “I’ve been the point person, getting the attorney the right documents, keeping everyone in the loop. We’re an advocate and point person with our clients.”
All agents are uniquely positioned to take on a similar role for clients. “Positioning yourself as the point person doesn’t happen when someone passes away. It happens when you first meet,” Di Bella says. “It starts with the fact-finder. That conversation isn’t just for solving insurance needs, but for getting any information you may need down the road.”
From there, it’s as simple as getting your client’s permission and picking up the phone.
“The biggest disconnect is no one wants to make the first call,” Di Bella says. “When I make the call, the accountants and the attorneys are always pleasantly surprised. They always want to do right by the client, and be part of a team that helps get the job done.” n
BOTH ON THEIR SECOND MARRIAGE, Fred and Barbara were extremely reluctant to blend their finances; so much so that the couple never divulged specifics about money or assets. Fred knew Barbara had a job and a 401(k), but not how much she made, or how much she was saving toward retirement.
“Clearly, they felt they had been burned finan-cially in the past, and there wasn’t communication there,” explains Di Bella, who admits working with Fred was a unique circumstance, since he rarely works with clients who do not include their spouses in financial planning.
The couple’s tight-lipped nature on money posed a significant challenge to Di Bella, and one that is becom-ing increasingly more common as the rate of second mar-riages continues to increase. Two-in-five new marriages in the U.S.include at least one partner who had been previously married, according to a 2013 Pew Research Center study. Almost 42 million adults in the U.S. have been married more than once, up from 22 million in 1980, a rise Pew attributes to both an increase in divorces and increased longevity of Americans. When you take
into account blended families and associated costs, such as child support and college tuition for stepchildren, it’s understandable it’s sometimes easier for couples like Fred and Barbara to keep
their finances separate.However, building a comprehensive plan that will
financially protect a current spouse and children — whether from a client’s current or previous marriage — is nearly impossible with only half of a household’s financial picture. The inherent problem in these situations has little to do with a
“mine and yours” approach to money. Issues such as Fred’s and Barbara’s arise from a lack of communi-
cation when it comes to personal finances. Agents can overcome such obstacles in insurance planning, by educat-
ing clients, not on “what,” but “who” is their most valuable asset.“Their biggest asset isn’t their 401(k), or house, or business.
It’s their ability to wake up and go to work and earn a paycheck,” Di Bella says. “Agents need to put this in terms the clients can understand, because clients don’t know. You have to put this in perspective for them.” n
Chairman’s Council Agent Joe Di Bella (right) is fortunate to work with his father, Chairman’s Council Agent Joseph F. Di Bella. Making sure clients have the right amount of life insurance is all part of the family business.
Second Marriage Finances: A Failure to Communicate
14 • New York Life The NYLIC Review • Spring 2016
The Power of the Nylic Contract
The “how” is in the details of the Nylic Contract, which was designed to drive up total compensation in a way that serves the best interests of clients, agents, and New York Life.
The difference boils down to the focus of each agent’s practice. Agent Y likely has more investment clients, who are buying less life insurance. Investment products, while they can be essential to a client’s portfolio, do not pay significant ongoing income for agents. Agent X, on the other hand, has more clients who are buying life insurance.
“Agents who make a 55% commission selling whole life policies can earn enough to almost double their income over a five-year period based on the renewals for in-force policies, even if their ongoing FYC stays the same each year,” says CVP Greg Holmgren, Agency Product Consulting. “New Org agents especially should focus on life sales, as they will help them create a steady flow of income. That includes term insurance,“ notes Holmgren.
Consistency RewardedCommissions on life insurance, and every product, however, tell only a part of the income story. Depending on the agent contract (N6, N8, N9), there are also expense allowances: Premium Drawing NYLIC (PDN), Conditional PDN, Senior NYLIC Accumulation Plan (SNAP), and, if you work long enough, NYLIC retirement. Use the Acronym Glossary (Agency Portal > A-Z > Acronym Glossary) to make sure you understand all the terms.
Consistent production drives expense allowance compensation better than the occasional big case. For example, if Agent Y earned $100,000 FYC one quarter and nothing in the next, he’s missing out on the benefits that Agent X enjoys because she earned $50,000 FYC in both quarters. That’s because the expense allowance is based on performance
Consider this example: Agent X from the Los
Angeles Office with an N9 contract earns
$40,000 in first-year commissions (FYC) as does
Agent Y from the Greater New York Office, also
with an N9 contract. They generate the same
FYC every year for 10 years. Yet at the end of
that time, Agent X is earning twice as much as
Agent Y. How is that possible?
continued page 39
Aligning Interests,
Rewarding Consistency
CVP Greg Holmgren, Agency Product Consulting, says New Org agents should focus on life sales to create a steady flow of income.
Holmgren says that while the compensation
package has a lot of pieces, New York Life
makes them all surprisingly easy to track
with the help of Web Top Comp, accessible
through Agency Portal. If Agent X wants to
see how the sale of different products would
influence all aspects of her compensation — includ-
ing retirement — she can enter them into Web Top
Comp. Different scenarios instantly yield all the
information she needs. n
Meeting the Needs of All
New York Life The NYLIC Review • Spring 2016 • 15
The new Department of Labor (DOL) fiduciary rule will also have a significant impact on the way we sell our retire-
ment products. According to Executive Vice President Chris Blunt, however, it will not lessen New York Life’s commit-
ment to becoming known as America’s retirement company, continuing to sell our products through our field force to
help Americans secure their retirements. At last year’s Council meetings, Senior Vice President Mark Madgett declared
our agency distribution model is at a point of inflection, turbo-charged by an unprecedented investment known as
Agency Optimization, poised to change its arc and grow dramatically.
Put all three of those together, and you have a sense that we — New York Life — are at a
defining moment in time.
Now, some moments or inflection points need no — or don’t wait for — an introduction.
They boldly stamp their presence on our lives, measured in terms of “before” and “after:”
a man walking on the moon, the attacks of 9/11, the fall of the Berlin Wall, and the financial
crash of 2008 are perhaps some of the most obvious examples of the past 50 years.
Other defining moments — often not so clear cut — are best viewed in hindsight. For New
York Life’s agency system, 2016 may be the year we look back on in 2020 and say that was the
moment everything changed; that’s when we broke through and our agents, our agency-
based business model, and our core foundational strategies separated us from our competitors. We are poised for
growth both individually and as an organization.
This issue of The Nylic Review looks at this moment through several lenses:
1. An interview with Mark Madgett that highlights his personal reasons for moving from Seattle to the Home Office, as well as the strategies and commitments he believes will fuel the next generation of Agency growth.
2. An article in which six agents share their secrets and ideas for growth. Each profile details the intentional steps each agent took to increase production in 2015.
3. Finally, we highlight the new preferred classification for life policies, giving agents the products they need to be leaders in the marketplace.
The common threads weaving everything together are the conversations that will fuel our growth in 2016 and
beyond. In an age of increasing technology, we’re betting on conversations and human interactions, whether it’s a
manager talking to a prospective agent, an agent sitting across from a prospect, an agent advocating for our business
with a legislator, or the AAC and Home Office working to create better products. We are poised for growth.
Enjoy the issue.
The Editors
A Defining Moment: Poised for Growth
Our industry appears to be undergoing its period of most profound change since the
“demutualizations” of the 1990s,” said President John Kim, reacting to recent announcements
by AIG and MetLife that they will be selling off portions of their life insurance business and
decreasing support for their agents. For New York Life, it underscores an opportunity to
demonstrate our long-term faith and commitment in our own career agency system and
strengthen our position as the company of choice among consumers.
’’
SPECIA
L SECT
ION
16 • New York Life The NYLIC Review • Spring 2016
Mark Madgett: There was never any intention at all to ever, ever leave Seattle.
As I told Ted Mathas and Mark Pfaff when they first talked to me about coming to
the Home Office, I had no aspirations — no career ambition — to ever be the
Head of Agency. And apparently, that worked for them. [LAUGHTER]
Seriously, when they called, I was honored and humbled. I believe there are
rare times in life where a call to lead requires a personal sacrifice. I took that call
very seriously because of the magnitude of the responsibility in leading Agency.
Ted and Mark gave my wife Liz, and me a great deal of time to thoroughly explore
every aspect of the move, because they both understood completely what it was
we would be walking away from, and we appreciated they were sensitive to that.
A Conversation with
Mark Madgett
NYLIC Review: You had a
great 16-year run at the
Seattle Office. Was this an
expected next step? What
was your motivation?
Mark Madgett took over as Head of Agency in January. In this interview, he talks about the
reasons behind his success in Seattle, his vision for the future, and why Agency is poised to enter
a golden age of productivity and recruiting.
SPECIA
L SEC
TIO
N
New York Life The NYLIC Review • Spring 2016 • 17
What factors influenced your decision?
A number of factors gave me confidence that coming to the Home Office was the right decision and I could make a difference. First, I wasn’t stepping into a situation that needed fixing. My predecessor, my dear friend Mark Pfaff, is an iconic leader in our system. I was stepping into a level of success that had been established over the decade, and really the previous decades. So, that gave me a great deal of confidence.
One area I explored was, “What could I contribute to the bigger and broader conversation?” And where I landed was: Building on the tremendous successes of the past, I saw an opportunity for us to begin thinking differently around the needs of our prospects and clients, providing them with a 21st century experience in our rapidly evolving marketplace.
To me, that includes both the agent- customer relationship, and the leadership responsibilities we are asking of our managing partners. There is some fertile ground in those two areas.
The other element I considered deeply was the remarkable quality of the senior and executive officer teams here in the Home Office and in the zones. My goodness — to step into the responsibility of this role
without those people in place would have been a daunting challenge. All those factors gave me a great deal of confidence. As a result, we traded our little slice of paradise in the Pacific Northwest for a bite of the Big Apple.
What had you built in Seattle?
Seattle was a very unique, very special experience for our entire family. It became our home, for 16 years. It’s still our home. When we arrived in Seattle, we were fortunate enough to work with a small core group of agents who were looking for some leadership, and to collaborate on a vision of what could be possible.
And we did that. To this day, the men and women in Seattle are my family. And it never felt like work. Going to the GO every day I felt like a 4-year-old who got to play in the sandbox. I just loved running the office.
What elements of your success in Seattle do you think you’ll be able to apply in your new position?
Our success began with crafting a compel-ling vision that excited people, even with limited information about how we were going to make it work. We enrolled people in
a vision of the future, their ability to shape that directly, participate in it actively, and enjoy the benefits of it by managing a conversation that truly is about opportunity and possibilities rather than problems and obstacles.
It’s about orienting people’s mindset to closing the gap between what’s possible in the future, and our current reality. We did it by building from the inside out, focusing on what we can control, not exter- nal circumstances.
How did that work in Seattle?
What happened in Seattle — is when people understand and embrace the responsibility and accountability that comes with internal ownership, then anything’s possible. And that I believe is possible in every General Office and throughout Agency.
How would you assess the current Field/Home Office relationship?
I think we are in a great place. The field is really producing . . . hitting on all cylinders.
I don’t know if the Home Office — across the board — has ever been in a better place in terms of its relationship with the field. Our strategy, our messaging, everything is very well aligned.
And the results speak for themselves: We just finished a record-breaking first quarter. Collectively, life recurring premium was up 19% in March to $66 million — a new record — with both New Org and Established Agents up double digits. In addition, we had both our best March and our best first quarter ever in life paid cases. That’s impressive.
Madgett joined New York Life as an agent in 1986. He entered management in 1992
and became managing partner of the Seattle Office in 1998. Under his leadership, the
Seattle Office grew to become one of the strongest agencies in the company and a
perpetual leader in agent retention, among other areas. Mark joined the Home Office
leadership team as senior vice president in September 2014 and assumed leadership
of the Agency Department on January 1, 2016.
We can create, innovate, and build
this next generation of New York Life
for ourselves and our clients. I’m
just so excited about what’s possible.
‘‘
18 • New York Life The NYLIC Review • Spring 2016
You place a lot of value on conversations. Why?
Whether it’s in a General Office or a HO department, I have long held a belief that culture is really defined as a series of conversations, and we have conversations externally throughout the company and throughout our communities every single day. As important as those conversations are, however, they pale in comparison to the most powerful and most important conversation of all — the one each one of us has with ourselves every day.
And when we focus on self-managing that conversation inside the context of New York Life, we allow ourselves the ability to really own the journey.
New York Life is, in my belief, perhaps the last bastion of corporate meritocracy in America. Here — especially in the field — someone from any walk of life, with any background, and with strong character traits, can come in and, with our support, create a career of their own design.
Understanding there are certain qualities we’re not willing to compromise on at our core, we can create, innovate, and build this next generation of New York Life for our-selves and our clients. I’m just so excited about what’s possible right now.
Let’s dig a little deeper into this idea of conversation. What one question should every agent ask their managing partner during a conversation?
That’s an interesting way of phrasing it, using the word “should,” because “should” implies a shared responsibility, and that’s where it begins. The first question is what agents ask themselves, not their managing partners.
It starts with, “to what extent do I want to be a stakeholder in this General Office?” Agents — especially established agents — today have at least three different relationships they’re managing. 1) They’re managing the relationship with the company. 2) There’s the one with the GO and the services that are provided there. 3) There’s the relationship between the agent and their managing partner.
So, asking, “To what extent do I want to participate as a stakeholder in this General Office?” is where it begins. There’s not a right or a wrong answer to that, because every-body has a different level of bandwidth for participation. And there are different seasons for participation.
Just being able to articulate it establishes a baseline, enabling an agent to interact effectively on all three levels. The next step is getting with the managing partner and expressing, “This is where I currently am today. With this level of active participation, what can I do to help? Who can I be for this General Office that will allow us to achieve our mutual goals and objectives?”
Fundamentally, the real question is “How can we work together to accomplish a shared vision?” That’s where it starts.
Let’s turn it around. What does a managing partner ask him or herself and then their agents?
It’s the same process in reverse. It begins with, “Who do I want to be in serving the men and women of this local New York Life office?” Be clear about that. And then, “What is the shared vision of mutual bene- fit for every single level of agent and employee participating in this local office?”
Sit down with agents and just simply ask the question, “How can I help you achieve your goals and objectives?”
And the answer, in my experience, has usually been, “Well, I’m not sure.” And with that, managers have been invited to step into the next level of that conversation. And it’s, “Let me share with you what I believe is possible. And then I’m interested in what you think is possible?” And once that kind of a dialogue starts, it’s less about having all of the right answers today and more about asking the right questions going forward.
We need to move away from transactional conversations where managing partners always feel like they have to have answers, and that unless we’re solving agents’ issues in that transactional way there’s no value in the rela- tionship. That’s an old model, and old models aren’t serving a 21st century experience.
What’s the new model?
The model today is the inquiry, asking the important questions, and having the conversation because it’s a clean slate; it’s an unplowed field. It’s about enabling a social engagement experience, and ours is a social business.
Would you say conversation is a market differentiator for New York Life agents?
Yes. Life insurance remains a complex financial instrument that helps answer questions associated with living too long, dying too soon, and becoming sick and disabled. Realities and decisions people would rather not face. As a result, it contin-ues to be sold and not bought. I understand there’s an emerging consumer generation called the “millennials,” and a really unique
. . . the possibilities in this marketplace
for a thoughtful, hard-working, creative
entrepreneur have never been better . . .‘‘
New York Life The NYLIC Review • Spring 2016 • 19
group coming behind them, all raised from birth in the digital age. At the end of the day, however, as long as human beings wake up every morning with uncertainty and anxiety about how life is going to turn out, there will be a role for an exceptionally trained professional to help guide them through the questions, have quality conversations, and help them find answers . . . and as Christie Mueller says, “take people’s fears away.”
No website can take people’s fears away. If anything, websites and robo advisors create anxiety, especially in times of uncertainty. When there’s uncertainty and anxiety, people behave as people behave. And only professionals like our agents can provide reassurance and answers.
How do you explain recent moves by companies like AIG, Genworth, and MetLife to reduce support for or abandoning their career agency systems?
For some years now “experts” have trum-peted we are watching the sunset on the value of life insurance and the Career Agency distribution system. To that, I and New York Life emphatically say, “No.” We believe we’re at the dawn of a golden age, but it’s going to require us to evolve and to think differently around bringing a core level of value to the market, because the market is looking for an engagement experience in the context of our times — which, to me, is exciting.
Now, who would have thought a company like Metropolitan Life, with the stroke of a pen, would go from 14,000 producing agents five years ago to zero, as they did when they sold their remaining field force to Mass Mutual?
The basis for that and similar decisions date back to the early ‘90s when companies began to demutualize. That began to weaken
the bonds holding the whole structure together for those organizations. These companies have abandoned, at least partially, what we call our “foundational strategies:” mutuality and financial strength; being a life insurance company; and our commitment to Career Agency.
Because they’ve made those decisions, their interlocking bonds of those four core strategic pillars are weakening, too.
As a result, even in companies that aren’t abandoning their agency forces we’re seeing companies like MassMutual losing their muscle memory. They are losing the ability to identify, select, recruit, and train agents. Now they are looking to hire other people’s agents.
We remained a mutual company.Recruiting and training agents remains a
vital part of our DNA and will remain so. It is core to our approach to the marketplace. Our future is in our hands.
That’s something new and prospective recruits can have confidence in, isn’t it?
Yes. Confidence in a New York Life career comes from the fact that more people need our help today more than ever before and because currently there are only about 302,000 agents in our industry.
I believe the possibilities in this market-place for a thoughtful, hard-working, creative entrepreneur have never been better — and especially for one who values the kind of partnership that a deeply-rooted and anchored core values-driven company can bring to the table.
How about established agents?
We expect other companies will come calling with the seduction of opportunity. And at the
end of the day, that’s all it is — a seduction. It begins with somebody saying, “Psst, over here.” And we all know how that turns out. What you find when you go home oftentimes is not perfect, but at a core level it has mean- ing that is deeply rewarding in so many ways.
As you’ve said, however, we still need to evolve to meet the needs and expectations of the changing marketplace.
It won’t come with the status quo leading the conversation. If we stay with the status quo, we could get swallowed up by the sea of change. And it’s important that each and every one of us think clearly about that, take stock of our current reality, and consider the opportunities for growth each and every one of us can own.
For a New York Life professional who thinks in a 20th century way about a 21st century-enabled consumer, we stand the risk of becoming irrelevant. And, as an institution, relevance is everything. The single greatest challenge is aligning every-one around a single point of view and owning the self-development necessary to build the capabilities we’ll need to succeed.
We are investing heavily in Agency in terms of technology tools and resources that will help deliver that 21st century experience. What is coming down the pike?
Agency Optimization is the umbrella term we are using for all the investments we are making. It’s really about building on our foundational capabilities of recruiting, retention, and the growth of our experi-enced agents. We’re going to see a signifi-cant change in the evolution of NYLIC University as we move that to a 21st century
We believe we’re at the dawn of a golden
age, but it’s going to require us to evolve
and to think differently. ‘‘
20 • New York Life The NYLIC Review • Spring 2016
model. We’re going to begin supporting the development of specific target markets differently, and earlier. Also — in the affluent and advanced markets — we’re going to see new resources emerge, as we invest in capabilities to solve those more complex problems for clients. Lots of what we expect will be game-changing improvements.
There’s also the new Associate Partner (AP)program. Why is it important, especially from an agent’s perspective?
The whole AP program represents a new approach to growing the footprint of our Agency system in the marketplace. We need to get wide. Our industry-leading market share is currently about 7%. There’s lots of room for growth. We need to grow, and the marketplace needs us to grow.
The only way to solve that need is by having more men and women choose a field management career as their life’s work: to identify, select, and recruit talented individuals.
The transition from agent to partner had become too difficult to navigate, because we had asked people to maintain high levels of production — Council production — while learning the manager skill set. With the AP program, we’re going to pay individuals during the transition. We’ve shifted the risk from the shoulders of the agents who are daring to explore management, to the shoulders of the company.
And we’re off to a powerful start with it. We just graduated 53 new Associate Part- ners and are about to begin our second cohort with 34 candidates and a third cohort will start in April. We’re really excited about the potential.
What will it take to continue our 19-year recurring life premium winning streak, and is it important to win every year?
Let me start with the second question first — is it important to win every year?
I believe it’s important to bring our absolute best winning effort every day. I learned a long time ago that there’s really only two things you can control: your attitude — what you choose to think about — and your behavior.
My expectation is that each and every individual focuses on the winning effort. If we have all agents and employees commit-ted to winning every day, then the results will be there.
Winning is not about checking something off on a scorecard. It’s about celebrating the collective effort and being part of something that’s bigger than yourself in a very special way.
Having sales growth every year is part of this interdependent responsibility that each and every one of us shares.
Equally important, winning every year also makes possible the right kinds of conversations.
Given our foundational strategies, when we sit down in senior leadership meetings, with the kind of track record we have, the question is never, “Should we be investing in Agency?” The question is, “In what way should we invest in Agency that will have the single greatest impact?” That’s a very different, and much better, conversation.
And 19 consecutive years of life premium growth has made that possible.
Every year stands on its own. The streak is great, but it’s not the streak that made
each year possible. It’s the effort each year that makes the streak possible.
We don’t want to lose sight of this year. In the GOs, we break it down — this month — this week — today. Win every day, and the streak takes care of itself.
Being an agent takes commitment. When did you know this was the right career for you? Was there a moment, or was it more of an evolution?
After I’d been in it 15 years! [LAUGHTER] I have another belief, that people get to a point of understanding gradually, and then all of a sudden there’s a moment of clarity. Life works that way, with meaningful things — valuable things. I knew this was the career for me gradually, with lots of moments of self-doubt along the way, with lots of moments of quitting and then talking myself back into it; input from friends and mentors and my wife, who shared it every step of the way. I mean, you get there gradually, and then all of a sudden.
And I just think — and this is an important thing for all of us, especially people out there that are reading this article and thinking for themselves, “Am I really in the right place? Is this really the right thing for me?” You’re not alone. You’re not the first. And you won’t be the last. And it’s the confusion and the self-doubt, and that internal crucible I believe is a necessary part of the forging process. It earns us the right to have deeply personal conversations with our clients and the prospects. That’s core to our experi-ence; to the DNA of New York Life; that’s a conversation that resonates at the center of our culture. It’s the struggle that makes what we do great.
I knew this was the career for me
gradually, with lots of moments of
self-doubt along the way. No one is
alone with those thoughts.
‘‘
New York Life The NYLIC Review • Spring 2016 • 21
Tell us a bit about your New York Life journey, including your mentors.
After graduating from college, I took a job in a ski area in Breckenridge, Colorado, and when my bar bill at the local tavern was more than my paycheck, I figured I needed to get on with my life. I moved to Denver and tried my hand at selling fertilizer. That’s where it all began.
I’ve had some remarkable mentors, begin- ning first with Mike Kroplin, who hired me.
Mike took a chance on an unemployed fertilizer salesman who was broke and was engaged to be married. I wouldn’t have hired myself.
But he saw some potential, and that’s what makes a good manager. He was there through the early stages of my struggle, and without his coaching, I would not be here.
As a side note, Liz and I got engaged in February 1986 and we were married on July 8. I started my New York Life career July 14, the day I got back from our honeymoon. This year, I celebrate both my 30th Nylic year and Liz and I celebrate 30 years of marriage. The two go hand-in-hand. We’ve grown up together in New York Life. She’s been there every step of the way, and I’ve learned so much from her.
Keith Erdahl was my managing partner in Denver who brought me into management and developed me. And he became really a second father in so many ways. You talk about wisdom and deeply centered prin-ciples and values. Watching him daily changed everything for me.
And, when I became a managing partner and moved to the West Coast, Managing Partner Tim Dickerson became an
immensely important figure in my early development as a managing partner. And, of course, Mark Pfaff. We’ve been friends and colleagues for more than 20 years. I’ve learned so much from him as a manag- ing partner, and during my two stints as MPAC Chairman. And of course, sitting next to him for 16 months has just been invaluable. I couldn’t have asked for a smoother transition.
You and Senior Vice President Mark Biren go back a long way. What does it means to have him here with you?
Mark Biren taught my first day of Funda- mental Career School. I was a brand new agent in a class of nine. He was a brand new Sales Manager. I remember sitting there in that meeting thinking to myself, “This guy is going to be a challenge, and he’s going to challenge the heck out of me.” I was probably the weakest candidate in that class.
Mark and I laugh about this now, but I said to myself, “If this guy can make it, I can make it.” And he’s let on many years later that he didn’t think much of my chances either.
Mark and I have been dear friends for 30 years.
I can’t think of a better leader — a more knowledgeable field manager — an indivi- dual who instinctively is able to react and respond in just about any situation relative to a General Office experience. I can’t think of a better person to lead our zones and be responsible for the daily outcomes in our General Offices. Mark Biren is a leader’s leader, and I’m thrilled to have him as part of our team.
Let’s go back to the personal. What do you do in your spare time ?
I guess I could be described as a voracious reader. Part of that goes back to my days at St. Mary’s College in California. We had a great books curriculum. I began reading the Greek tragedies, moved on to the modern writers of the 20th century and never stopped. Today, I focus on books that help me develop perspective in helping others.
I just read Clayton Christensen’s book, “How Will You Measure Your Life?,” and Charles Duhigg’s “The Power of Habit.” More foundationally, “The Last Word on Power” by Tracy Goss and “The Seven Habits of Highly Effective People” by Stephen Covey are always nearby. I have a reading list I’m happy to share if anybody wants it.
What’s been the highlight of your career thus far?
The greatest value that this business and this company has provided me over 30 years is the opportunity to become the best possible version of myself. I wouldn’t trade that for anything. Why would you trade that? Why would you trade the opportunity to self-invest with support and guidance and encouragement?
Last question: What’s the one point you want agents to take away from this interview?
I would say this . . . that in each and every moment, every one of us has a choice as to who we will be. We can be the past, plus or minus an increment; or we can take the past out of the equation and we can be the future, which is rich with possibilities. n
Recruiting and training agents will
remain a vital part of our DNA.‘‘
22 • New York Life The NYLIC Review • Spring 2016
Success is usually a journey, rarely a destination.
Once you’ve become successful, what’s next? Most
of us want to continue to grow and develop, and yet
just maintaining the success we’ve attained is often
challenging. Jumping a Council level, as the agents here have
done, represents significant growth. To cultivate their growth,
these agents describe a series of incremental changes — a number
of small, deliberate steps — glued together by a passionate intent
to grow professionally. In these stories, you’ll discover the steps
each agent took. Their progress wasn’t always visible, which is why
their belief in themselves and their focus was so important.
fifth-generation Nylic, Wood knew from the start of his NYLIC career
in 2004 that he wanted to make it on his own and not on the
family name. He realized, however, making it on his own meant embracing the legacy and becoming a leader. His intentional shift drove numerous changes that took him to Chairman’s Council.
Calculated Shift: My Council leap was a direct result of a change in my mental attitude. My thinking shifted from being “just an agent” to being a business owner, and the impact was dramatic. Here’s what changed: I began reflecting on how much my time was worth. I calculated an Executive Council agent makes about $65,000 a year, which is equivalent to approximately $30 an hour. A
Chairman’s Council agent makes about $262,000 a year, working out to $135 an hour. That changed my perspective on everything going forward — what I focused on, what I del-egated, and what I avoided altogether. If you change your behavior, but your attitude hasn’t shifted, you won’t see any real results. You have to truly see yourself as a business owner.
Ripple Effect: As I began to make that shift from EC to CC, I also started to think about centers of influence. Was I referable? Was I seen as a leader in our professional commu-nity? Did centers of influence know what I
did, and could they communicate that effectively to their own contacts? Inevitably, these questions shaped many of the things I began implementing. I started The Next Aces, a network for multigenerational family business professionals. There are a lot of these kinds of businesses in Dallas and across the country, and they have unique
Attitude Shift Must Come First
Nelson WoodDallas Office (2008)
2015 Chairman’s Council 2014 Executive Council2013 Executive Council2012 Executive Council2011 Quality Council2010 Executive Council
A
Define Your Moment.
Determine Your Path for Growth.
Cultivate Career GrowthSPEC
IAL S
ECT
ION
New York Life The NYLIC Review • Spring 2016 • 23
needs that are often misunderstood or unexplored. Right now there are 23 of us — some existing clients and friends of mine as well as new relationships. A family is run one way, and a business is run another; the overlap of those two cultures creates a unique animal, and we spend time discuss-ing that. Working with this group has helped my business, both as a learning experience and a way to expand my influence as a leader in the community. My family situation may be unique, but becoming a more visible center of influence is something anyone can do.
Growing the Legacy: Because of my well-intended, but somewhat misplaced, insistence on succeeding apart from our family’s book of business, I rarely called on existing clients. Eventually, I began working
with existing clients more intentionally, and realized that no matter where your next sales opportunities come from, you’re the one who has to do the work and make it happen. Leveraging my family’s book of business was a big help, but the mind-set change was what showed me I needed to be in front of more qualified people. If that’s your mind-set, a solution will present itself.
Outside In: My grandfather was part of the first AAC in 1946, and my dad served in 1984. Both encouraged me to lean into that opportunity when the time was right. For a long time, I wasn’t sure if it was worth the investment of time and energy. When I was elected to the 2015 AAC, it immediately put me alongside other successful agents and
Home Office leaders who all encouraged me to grow. I learned so much from them, and received a lot of practical support as well. Whenever you adopt a service mind-set, you end up getting as much out of it as you put into it — maybe more. Now I have the privilege of serving on the 2016 Executive Committee of the AAC and continue to experience the same encouragement and business support. In fact, this year I qualified for Chairman’s Council by December 31, which was a goal of mine heading into this Council year. Wood and his five brothers celebrated his father’s 20th anniversary with New York Life in 1994: (from left)
Nelson, Taylor, father Tracy, Asher, Leighton, Dallas Office agent, and Fulton.
My thinking shifted from being
“just an agent” to being a
business owner, and the
impact was dramatic.
— Nelson Wood
‘‘
The Wood family tradition of serving on the AAC started with Nelson Wood’s grandfather A.C. Wood in 1946.
Cultivate Career Growth
24 • New York Life The NYLIC Review • Spring 2016
ardrick has flourished as a perennial Executive Council agent. In 2013, though, she was confronted by a series of major
life events: Both her parents passed away within weeks of each other. Then, while her daughter coped with illness, Hardrick took in her daughter’s children: ages 12, four, and two. It was hard to focus. Her production dropped at a time when success seemed more important than ever.
Inspiration on the Dusty Shelf: Everyone has a shelf where materials you rarely use sit and gather dust. I stood in front of that shelf and closed my eyes. I said a prayer. I needed
something that would help me end this sales slump and help me take care of these kids. With my eyes still closed, I reached out my hand and grabbed something. What I got was an audio book of The Strangest Secret by Earl Nightingale. I began listening on my drive to and from work. Nightingale’s basic idea is that your thoughts create your reality. He says, “You are now, and you do become, what you think about.” If you think of yourself as a success, you’ll be successful. So I wrote a few sentences on an index card, and I keep it right on the odometer. I have another one on the mirror in the bathroom.
President’s Council Decision: From that point on, I decided that not only was I going to get out of this sales slump, I was going to make President’s Council. I started calling my existing clients and doing deeper
fact-finders with them. I started asking for referrals, which is not something I used to like to do. I got back to basics, like the three
C’s of selling: “See the people, see the people, see the people.” I just started believing it, putting it out there, and I
changed my attitude. I read another book that helped me a lot: You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life by Jen Sincero. It’s about “getting” what you believe you deserve.
Power Sources: In October, I went on the Women’s Retreat put on by the Colorado GO. There were about 25 of us there. And I ended up starting a study group — we call ourselves Pump Up the Jam — and I’m mentoring a small group of New Org agents. They are so full of energy and excitement. I get so much out of it.
Write It Down: Another thing I did that year is I began to write my goals down on little 3 x 5 index cards and keep them in my car, so they’re always in front of me. New Org agents are told to do this, but I think it’s important to keep doing that at every stage of your career. If you write down a goal, it’s not just a dream or desire, it’s real. What works for me is setting realistic goals, and taking a moment to celebrate when I achieve them before moving on to the next project. I’m happy to say that I made President’s Council for the first time in 2015. I believed I could do it, and I made it happen.
For Hardrick (second from left), the Colorado Office’s annual Women’s Retreat in Breckenridge provided an energy boost and an opportunity to work with newcomers.
Reaching for Inspiration
Penny Hardrick, LUTCF
Colorado Office (2002)
2015 President’s Council2014 Executive Council2013 Executive Council2012 Executive Council2011 Executive Council2010 Executive Council
I got back to basics, like the three C’s of selling: ‘See the people, see the people, see the people.’ I just started believing it, putting it out there, and I changed my attitude.
— Penny Hardrick
‘‘H
New York Life The NYLIC Review • Spring 2016 • 25
fter graduating from Louisiana State University, Thom returned
home to manage the family farm, until the business aspect
of it led to his joining New York Life in 2002. He made Executive Council from 2003 – 2008, and then leveled off at President’s Council for a few years. In 2015, after attending two workshops led by 2007 Council President Steve Kaneski, he made Chairman’s Council. What he learned made him more efficient and a better, more confident agent.
Automation: Last year I made Chairman’s Council for the first time. One of the things that helped me make that jump was participating in the Kaneski Workshop.1 The workshop gave me a process I now use with practically every prospect. I no longer have to reinvent the wheel for every single meeting. I have green folders and blue folders: green for the first meeting, and blue
for the second. They’re filled with third-party articles and other material I may need. I have stacks of each ready to go, and just grab one when heading to a meeting. Later in the
process, I customize everything as needed, but usually what you need for those first two meetings is the same. I know what’s in each and the script that goes with them.
Confident and Present: The folders save me time,
but more important, they save my mind from having to think about those details. Now, when I’m with a client, I’m really there, and I’m relaxed. I may or may not pull out the folders. If it makes sense, I’ll say, “I’ve got some homework for you for our next meeting in two weeks.” I feel confident and clients sense that, too. I attended the workshop twice [spring 2014
and fall 2015] because I saw that it worked and reinforced my understanding of the business. Most important, it showed me things that would have otherwise taken me
years to learn.
The Changeup Conversation: I’ve always done a mix of life and investment business. Before the workshop, I was cherry-picking investment pros-pects, and then mostly talking about life insurance to others. I used to do an FNA, gather lots of information and make a life insurance recommendation.
Great. Very logical. But logic doesn’t always motivate or engage prospects. Now, every meeting starts with a conversation about retirement planning, and the best ways to
save and reduce tax obligations. If I show prospects the tax advantages of life insurance and how it can work as part of their retirement planning, they tend to be more engaged. And I can still bring it back to income replacement and the need to protect the plan they’ve developed with me. It’s a
better experience for everyone. I’m not “selling” anything; I’m educating prospects and clients, and they appreciate it.
Big Picture: I also make sure I’m working on five or six big cases a year — anything over 10-15K FYC. I could probably make high EC if I didn’t do those, but those higher market cases get you into PC or CC. There are some CC agents who only work on extremely large cases, but for me, I prefer the consis-tency of having the mid-level cases as a base. And now, thanks to 14 years of developing relationships, I’m getting referrals both mid-level and large from clients. I didn’t ask for them; they just gave my name. That’s the payoff of taking the time to have conversations with people about their financial goals and dreams.
1Keys to Success in the Medical Community” is available through The Nautilus Group for qualified agents. For more information on Agency Portal, go to Career > Nautilus Group.
Thom with stacks of his time-saving blue and green folders.
New Approach; New Perspective
Thom learned early business lessons working on the family farm and remains close to that experience. His father, Jim Thom (right), is also his mentor.
Jamie Thom, CLU
Louisiana Office (2002)
2015 Chairman’s Council 2014 President’s Council2013 President’s Council2012 Executive Council2011 President’s Council2010 President’s Council
I’m not ‘selling’ anything; I’m educating prospects and clients and they appreciate it.
— Jamie Thom
‘‘
A
26 • New York Life The NYLIC Review • Spring 2016
n Executive Council agent for many years, Lindblom began to
change direction when he became a founding member of
the Board of Directors study group. All but one had never made Chairman’s Council. They met to discuss process and opportunities. Some members began to make higher Council levels. Lindblom saw his business improve, but it took a concerted effort to make the leap to President’s Council in 2015.
Belief, Goals, Purpose: This year I intention-ally set a goal of making President’s Council.
And then I told people. You can’t just have goals in your head; you need to tell people. I was making EC every year. It became automatic, but somewhere along the way
I stopped growing. When I made that mental shift this past year and decided to shoot for PC, I made sure to communicate that goal. I told every-one — my wife, my managing partner, my study group. I told my sister she was going to the Fontainbleu in Miami, and I told her to make sure to get the time off. It wasn’t a “maybe” kind of thing. Verbalizing it makes you feel ownership of it, and so I had everyone helping me build that focus for the whole year. The more people you tell, the more likely it is that you will succeed. I even had a picture of the hotel as my desktop background on my PC and all devices. We are all able to make President’s Council, or even Chairman’s. For me, a lot of it came down to believing that I could. I’m a Chairman’s Council agent; I’m just in a PC body right now.
Making time: I have a pretty balanced life. I work, and I make sure I have time for my family and other things. But coming out of our study group last year, I realized I needed to change my Ideal Calendar. I had to
compress some things and increase time for others. I did some calculations and figured I needed to go from nine meetings a week to 12. I had to find the time. I’m involved with a few charities, and in order to make time, I declined a leadership role in one of the charities. I gave them plenty of notice, and it gave me back an hour. I also delegated more to my staff. It may seem small, but committing to a more efficient calendar made a big difference.
Study Group and Support Group: I work in Iowa, and it’s very spread out. I tell people I’m about 70 miles from everywhere. In a more rural area like this, where you don’t have as many people or as many agents, it can be hard to have the kind of camaraderie you need to keep going, so the study group has been key. Seeing members of our group rise made me want to go for it too.
We meet regularly and keep in touch with email, bi-monthly phone calls, and texts.
These seven guys became my board of directors. Having that contact with success-ful peers keeps me motivated and keeps my skills current. As they say, iron sharpens iron. I’m able to borrow from each one of them, and give them help too when they need it.
The experience of the study group also helped me make an important mental shift. I made PC because I internalized all that making it really meant. I felt the opportunities it would open and the future growth it would provide. I made the num-bers, but it was more about internalizing everything about PC.
Celebrating his success are daughters, Summer, 10, and Aubree, 9, his wife, Erika, Lindblom, and his sister, Kellie.
Lindblom’s study group, the Board of Directors, provides motivation, inspiration, and support. Pictured on a recent visit to the Home Office are: (standing left to right) Michael Leichner, Joseph F. DiBella, Joseph L. DiBella, Lindblom, Andrew Reimer, and Daniel Stoll. (Seated left to right) Brendan McCarthy and Benjamin Harding.
Kevin LindblomCedar Rapids (1999)
2015 President’s Council 2014 Executive Council2013 Executive Council2012 Executive Council2011 Executive Council2010 Executive Council
Study Group Provides Camaraderie
A
I’m a Chairman’s Council agent; I’m just in a PC body right now.
— Kevin Lindblom‘‘
New York Life The NYLIC Review • Spring 2016 • 27
With a degree in finance
from the University of Baroda and 10 years in
banking, Parikh emigrated to the U.S. with big dreams,
joining New York Life in 1983. He made Council every year, and started making President’s Council in 2008. In 2015, he reached deeper into his Asian-Indian network to make Chairman’s Council for the first time.
Cultural Events: I’m always involved with nonprofits and cultural organizations, and last year we really stepped it up. In the past, I shied away from soliciting business at these functions, but I realized everyone else was. I went from just sponsor-ing events to being there with a booth. That put me in front of a lot more people, probably about 2,000 more names. For the Asian-American Chamber of Commerce, my booth made me visible to its 1,000 mem-bers. The Texas Indian Physi- cians Society has about 600 members, and I sponsored events and a booth. I sponsored a program through the Dallas Indian Lions Club, which has about 500 members. The Indian Association of North Texas is the big one, with about 20,000 members.
Partnerships Benefit Both: I do a lot of recruiting, and have always brought in many new agents every year. I made the decision in 10 years to form a partnership with one of my recruits. Rajesh Sancharla, CLU, ChFC, has been here for about 15 years, so he’s junior to me. Some people worry about working with a newer agent; they think that the competition will take away from their own case rate, but I started making PC after we teamed up. Rajesh is a brilliant and knowledgeable person, and he brings a lot to the table. Last year, as we were bringing in more people to talk to, it was important to have someone in place I trusted. We did a lot more seminars, especially for rollovers and annuities. It
worked out so well that not only did I upgrade my Council level, but he also moved from Executive to President’s Council. Teaming up with Rajesh has brought new life to my business.
Mentors Matter: I remem-ber when I was first starting out, an agent named Ram Sitaram [now active-retired and already at EC] came to my office. He intro-duced himself and asked if there was anything
I needed, which made me feel so welcomed. And he passed some client files on to me. Now I try to help new agents the same way. We have very good camaraderie in our office. Say someone is just short of council — we will share cases with them to help them make it. Working together, we all come out ahead. Making Chairman’s is intoxicating. Now I want to do it again, and I’m close. I felt that
way when I made President’s. You just want to keep doing it.
Cross-country Connection: I couldn’t have made it without Srinavas Ranga [CVP-Agency Target Markets & Recruiting]. He provided speakers — people would be flown in — if we needed them, and he really
encouraged me to make better use of the connections I had. He helped with every-thing. Making Chairman’s Council is a tribute to his and his team’s hard work.
Giving back: My philosophy is that one should always give back to the community, so I do a lot of community service. I still remember how, 12 years ago, we helped one
client who lost six family members in a car accident. It was a terrible tragedy. There was a drunk driver on the wrong side of the road, and in the crash my client’s wife, sons, mother, mother-in-law, were killed. The family planned a traditional Hindu funeral, but they encountered difficulty getting the extended family here from India on such short notice. We helped them work with the government to get approval for the family to come. It meant a lot to me to be there for them during such a terrible time, and in some small way to help. Our clients are like our family members. They know
that we are there for them in good times and bad. My commitment to this community-centered way of doing business has only increased over the years, and has directly contributed to my success as an agent.
Parikh and President’s Council Agent Rajesh Sancharla teamed up to host seminars, inviting product consultant CVP Dave Wilcox (center) as the featured speaker.
Community-builder; Council Growth
Sudhir ParikhWest Texas Office (1984)
2015 Chairman’s Council 2014 President’s Council2013 President’s Council2012 President’s Council2011 Executive Council2010 President’s Council
Making Chairman’s is intoxi-cating. Now I want to do it again, and I’m close.
— Sudhir Parikh
‘‘Parikh stepped up his involvement with cultural associations.
28 • New York Life The NYLIC Review • Spring 2016
fter a bumpy start back in 2004, Moore hit his stride — he made Executive Council in 2010 — and
since then he’s been intentional about incremental improve-
ments and growth that serve his professional vision. He joined a coaching group through Clarity International in 2009, which reframed how he approaches situations. He teamed up with another agent and joined Eagle Strategies. His jump to Chairman’s Council is the result of multiple actions.
Come from Behind: My first year I made $19,000 the entire year, and now that’s not even my monthly income. It doesn’t matter where you start; it’s how hard you play the game. In my first few years — I was 24 when I started — I got “fired” three times for lack of production. I was stubborn. There was plenty I didn’t know, but I knew this was the right career and the right company. My manager didn’t give up on me, and my wife, Michelle, was so supportive. Mostly, I didn’t give up on myself. I started making calls and building a practice.
Partnerships and Connections: Five years ago [President’s Council Agent] Carey Sullivan and I incorporated as Five Peaks Capitol Group LLC — we opened the actual office in March. That may be the single step that has lead to most of my success. We keep
it very focused on process. We meet every two weeks to track our goals. Once a month, we throw the numbers on the board and manage it very similar to a New Org weekly sales meeting. My goal is always to set 12 new meetings with new prospects each month and eight annual reviews. We go over all this at our meetings, and it helps us all stay on
track. We’re accountable to each other, and can offer support and advice. During this past year, I did that more consistently than I ever have, and it paid off.
Think Bigger: Once a week, I want to get in front of an employee group to do an educational talk, or a CPA who can introduce me to a business owner. We use the professional alliance program to develop formal agreements. Carey and I refer people to CPAs and lawyers, and they
refer to us, getting a third of any resulting commission. It puts us in front of the business owners and higher-net-worth individuals that we need for our client list.
Some agents balk at the commission sharing, but I can tell you it’s absolutely worth it. On average, partnering with outside professionals generates four A-list clients annually.
Effective Conversations: Mark Biren suggested I join the local chapter of the coaching group, Clarity International. I went on a retreat back in 2009, and now I’m in a group of 12 professionals from all types of industries. We have a dentist in the group, an attorney who works on gender equality in the workplace, and a chiropractor, among others. Within that setting, we learn from and coach each other. We learn to form effective dialogue skills. This was so important in my
making Chairman’s Council. You listen, and when you hear something negative, you do a quick mental check to determine
if you’re the one bringing the negative or if it’s the client. Once you identify that, then you can take steps to keep the conversation above the line, on a positive track. I don’t just learn how to talk to people and how to listen, but who I should be engaged with.
Transformation: Today, I’m a long way from that 24-year-old guy. I became someone people trust and respect. That was the result of doing little things like showing up for every single class in Fundamental Career School, and big things like getting out of my comfort zone to incorporate and join groups like Clarity International. As a result, I was askedto take over a book of business of mostly VUL clients in Orange County, California, from a retiring agent in our office. Our compliance office introduced me to the agent. Their confidence in my ability to provide a high level of service was a catalyst for these clients. I know I would not have been approached if I was the same person who was getting fired all the time. I made a lot of changes. You can, too. n
Moore says partnering with President’s Council Agent Carey Sullivan“may be the single step that has lead to most of my success.”
Partnership and Goals
Derek MooreColorado Office (2008)
2015 Chairman’s Council 2014 President’s Council2013 President’s Council2012 Executive Council2011 President’s Council2010 Executive Council
I don’t just learn how to talk to
people and how to listen, but
who I should be engaged with.
— Derek Moore
‘‘
A
New York Life The NYLIC Review • Spring 2016 • 29
Inspiration for GrowthIf there’s a profession that is fond of inspirational and motivational words, life insurance agents
would be at the top of that list. They succeed by overcoming scores of rejections. We asked members
of the Agents Advisory Council (AAC) to share their “go to” words of wisdom.
Don Lippencott, MSFS
Long Island OfficeChairman’s CabinetContract date: 1983
“ There are only two things that you can control
in life: your attitude and your activity, so I
always try to be positive and always be busy.”
— Chairman’s Cabinet Agent
Brian Ruh, CLTC, Wisconsin Office
“ Do not follow where the path may lead.
Go instead where there is no path and
leave a trail.”
Given to me when travel-
ing around the country as
leadership consultant.
I’ve always been in some
sort of business that is
everchanging.
Kimberly Wuepper Rudick, CLTC
Greater Oregon Office Executive Council Contract date: 2002
“ The common denominator of success — the
secret of success of every man who has ever
been successful — lies in the fact that he formed
the habit of doing things that failures don’t
like to do.”
— Albert E.N. Grey, from a 1940 speech at NALU
(now NAIFA) annual conference
It’s been sitting on my desk
for a million years. When
I was a young agent, I got
a NALU pamphlet, and
that quote was in there. I
highlighted it and have
never let go of it since. That
was 31 years ago.
Gib Surles, CLU, ChFC, MSFS, CFP
Houston Office Chairman’s CabinetAAC Executive CommitteeContract date: 1985
“ Nothing is impossible. Impossible just takes
a few more phone calls.”
— Michael J. Fox
I have a little book that I
keep. I write down different
things that I hear from
agents or from others. I have
it right here at my desk.
I thumb through and find a
quote that resonates and
motivates me when I need it.
Edna Rachal, LUTCF, LTCP
Chicago North Shore Office Executive CouncilContract date: 2008
“ Far better is it to dare mighty things, to win
glorious triumphs, even though checkered by
failure . . . than to rank with those poor spirits
who neither enjoy nor suffer much, because
they live in a gray twilight that knows not
victory nor defeat.”
— Theodore Roosevelt
I don’t remember where
I got it, but I’ve had it
forever. It’s on this little
piece of paper in a
drawer on my desk, so I
see it every time I open
the drawer.
Elizabeth Metzger, CFP
El Paso OfficeChairman’s CabinetContract date: 2010
30 • New York Life The NYLIC Review • Spring 2016
As you might imagine, these trends are already having a profound effect on the life insurance
industry. After all, the healthier the applicant, the more likely he or she is to be approved for coverage, and to enjoy more favorable premiums. “Pricing and
underwriting models are based, to a great degree, on the health of
the applicant,” said Isaac “Yitzie” Kamman, Corporate Vice President in Product, Marketing and Underwriting. “We saw the way things were trending and realized that we
needed products that would reflect and, more impor-tantly, reward this change in behavior.”
New Products Reflect Healthier Trends In response, New York Life recently launched its new AD116 Term and Whole Life series — the first new line for these products since 2013. The AD116 series, which consists of enhanced Whole Life, Custom Whole Life, Yearly Convertible Term, and Level Convertible Term products, is the first to feature our new Preferred II risk classification, which falls between our Preferred and Nonsmoker ratings.2
“This new risk category allows us to be more flexible when it comes to offering an underwriting class,” said Kamman. “And while it may not seem like a big deal to most of us, it is to the consumer — or broker — who is actively comparing policies. This move allows us to keep up with our competitors, many of whom already offer similar risk categories.”
Healthy Living has its Rewards Our New Preferred II Risk Class Makes Life Products More
Attractive to Healthier Applicants
Four risk categories make us more competitive in term life products.New products feature new rate classes.
According to a recent NBC news report, Americans are finally getting serious about their health.
While acknowledging there’s still plenty of room for improvement, the report found that chang-
es in diet and exercise have resulted in 8.6% fewer cardiovascular disease cases, 1.3% fewer cancer
cases, and 12.6% fewer type 2 diabetes cases since 1999. In fact, the report estimates that these
improvements in behavior likely prevented over a million premature deaths. 1
New Preferred II Risk Class CompetitorsInsured’s will be eligible for Preferred II with an Application Part 1 date of March 11, 2016, or later
Current Underwriting Class New Underwriting Class
Select Preferred
Preferred
Nonsmoker
Preferred
Preferred II
Nonsmoker
Select Preferred
Company Best Rating 2nd Best 3rd Best Standard
AXA 4 4 4 4
Guardian 4 4 4 4
John Hancock 4 4 4 4
Lincoln Financial 4 4 4
MassMutual 4 4 4
MetLife 4 4 4 4
Northwestern Mutual 4 4 4
Prudential 4 4 4 4
Transamerica 4 4 4 4
Voya Financial (ING) 4 4 4 4
SPECIA
L SEC
TIO
N
New York Life The NYLIC Review • Spring 2016 • 31
It Allows Us to Reward Healthier ApplicantsThe new Preferred II risk class helps differentiate consumers by other risk factors, such as body mass index (BMI), cholesterol, HDL ratio, family history, and blood pressure. In each case, the Preferred II class holds people to slightly tougher standards than does the Nonsmoker class — but those who qualify will enjoy better rates as a result.
“We really needed this,” said Agent Advisory Council (AAC) member Lori Kaplan, who, along with her fellow AAC members, was an advocate for the new risk classification. “Our products already have so many advantages — our financial strength being one of the largest — but sometimes the client just can’t see past the price. The Whole Life and Term Product teams did a great job putting this together, and now we have something that rewards healthier applicants who may not qualify for our top tier rates.”
Just how much more competitive are the Preferred II premiums? As you can see from the charts below, the pre-miums charged for our new AD116 Whole Life product would be approxi-mately 0.5% to 2.5% lower than those currently paid by Nonsmoker clients.
And when it comes to our new AD116 term products, the difference is even more pronounced. In most cases,Preferred II premiums will be lower than our current Nonsmoker premiums by 8% to 13%, and also increase proportionately.
It Helps our Agents WinWhile the lower rates should make our products more attractive, Kaplan was careful to note that the price point shouldn’t be the determining factor. “We’re really not trying to win a price war,” cautioned Kaplan. “We just want to make sure we are in the ballpark — that way, all our other advantages stand out. Preferred II makes us more competitive in the marketplace and helps put our agents in a position to win. Best of all, healthier clients can now get a better rating.” n
New products feature new rate classes.
New Class Is New Reason to Call • The new Preferred II risk
class is only available on policies and riders with a base face amount of $100,000 or more, at issue ages 18 and above.
• Any policy or rider below the $100,000 face amount will continue to have Nonsmoker as the best available risk class.
• As you might imagine, this new rate class could create a tremendous conversion opportunity for term policy owners who currently receive Nonsmoking rates, but would now qualify for Preferred II rates on our AD116 Whole Life product.
• Agents should call clients who were on the fence about converting and let them know that we may be able to offer them more competitive pricing and other product enhancements. 3
1 “2016: The Year Americans Get Serious about Getting Healthy?” NBC News, January 2, 2016 @ http://www.nbcnews .com/health/health-news/ 2016-year-americans-get- serious-about-getting-healthy-n488731
2 AD116 Term and Whole Life is not yet available in New York State.
3 Clients have to submit a non-med along with an application to be considered for Preferred II.
This move allows us to keep
up with our competitors, many
of whom already offer similar
risk categories.
— Yitzie Kamman
‘‘
Price Changes on Whole Life Price Changes on TermPreferred II WL premiums will be approximately .5% to 2.5% lower than current Nonsmoker
Preferred II term premiums will be approximately 8% to 13% lower than current Nonsmoker
Whole Life Male Age 45 $250,000 10 Year Term Male Age 35 $500,000
AD113 Premium $4,880 $4,965 – $5,103 AD110 Premium $290 $335 – $420
AD116 Premium $4,880 $4,965 $4,993 $5,103 AD116 Premium $290 $335 $370.50 $468
% Difference from current nonsmoker -2.1 .07
% Difference from current nonsmoker -11.8 11.4
Select Preferred Preferred Non- Preferred smoker
Select Preferred Preferred Non- Preferred smoker
32 • New York Life The NYLIC Review • Spring 2016
In fact, many of our most successful agents — like 2015 Council Vice President Christie Mueller — consider seminar marketing their most valuable prospecting tool. “At this
stage in the game, I would say it’s about 75% of what I do,” Mueller said. “I have a fairly robust book of business and generate a lot of activity from referrals, but seminar marketing is where I get the most traction. It’s a great invest-ment in terms of time and money.”
Mueller, Seattle Office, routinely hosts somewhere between 20 to 25
seminars a year — but prefers to use the term “workshop” when referring to these events.
“Seminar just sounds so . . . lofty . . . like you’re lecturing people. I want to be more approachable than that,” she stated. “Plus, I tend to do a lot of worksite presentations, which are usually smaller, more hands-on affairs, so it’s actually a better description of what we do.”
Targeting local employers has been an effective strategy for Mueller. She uses the “brown bag” lunch approach to great effect, and she generally secures appointments with 60% of people who attend each workshop. “While the size of the audience may not be
great, the response I get from the people who attend generally is. And because I get to use their facilities most of the time, I don’t have to pay for the space, which helps keep my marketing costs to a minimum.”
Still, Mueller will occasionally branch out and conduct larger, more public events such as the Maximizing Social Security Seminar with Mary Beth Franklin. These seminars have proven to be extremely popular, as Franklin is a noted author and Social Security expert. “With so many baby boomers approach-
ing retirement, Social Security is a hot topic,” Mueller said. “Mary Beth really draws a crowd, and people genuinely appreciate the opportunity to hear her insights on retirement planning and Social Security claiming strategies.”
While Franklin typically commands a substantial fee, she has entered into an exclusive marketing agreement with New York Life that allows our agents, managers, and GOs to book her for a rate significantly lower than her standard fee. In most cases, attendees receive a personalized Social Security calculation, and
Help Keep Prospects in the Pipeline
No matter where agents
are in their careers,
seminar marketing is a
winning strategy.
Giving your loved ones what they need is your job.Helping you do it is ours.
It takes more
than good
grades to get
into college.
New York Life agents have a host of marketing tools at their fingertips, but over the years
none have proven to be better at generating appointments and driving sales than seminars.
That’s because seminars are a cost-effective way to reach multiple prospects and to position
yourself as a subject-matter expert to people with a genuine interest in your services.
You’re invited to learn the basics of achieving financial security.
Seminars SellSPEC
IAL S
ECT
ION
New York Life The NYLIC Review • Spring 2016 • 33
an invitation to meet with an agent if they’d like help preparing a more secure retirement.
Kyle Herrington, Finger Lakes Office, is another Chair- man’s Council Agent who enjoys great success with semi- nar selling. He recently hosted a Mary Beth Franklin seminar and, based on his results, recommends it highly. “If you want to draw pre-retirees, it’s a natural,” Herrington said. “And thanks to my son Luke (also a Chairman’s Council Agent), we came up with a plan that helped us make the most of it.”
Instead of inviting prospects directly, the Herringtons reached out to their most prestigious clients (or all-stars as they call them) and asked them to “cohost” the event. Each cohost was asked to help promote the event and fill at least one table — free of charge — with people who fit the target demographic (ages 55–67). Not surprisingly, the result was a resounding success.
“We wanted to make it feel like a prestigious, exclusive event,” Herrington remarked. “We knew the all-stars we
contacted would bring in like-minded people, so it was a terrific way to prequalify our audience. By the time all was said and done, we had a total of 287 in the audience — and the
vast majority of them had never met with us before. Best of all, everyone walked away impressed, and we have been able to schedule follow-up appointments with approximately 40% of attendees.”
Of course, Mary Beth Franklin programs are not the only seminars New York Life has to offer. In fact, the company has created a broad selection of seminars that can help agents become more productive at any point in their careers.
One of these seminars, The Blueprint for Financial Success, is a versatile, yet powerful seminar that’s perfect for new and experienced agents alike. “I use it at least four to five times a year,” said Executive Council Agent Robert Morris, Colorado Office. Morris, who has been with the company for four years, has made this seminar the foundation of what he calls his “Financial Wellness in the Workplace” curriculum.
“I started out doing a lot of work with nonprofits, churches, schools — organizations that are highly visible and central to our community,” Morris said. “As a result, I was careful to nurture the relationships and position this as an ongoing service that would benefit their workers. That’s where I came up with the curriculum concept — and The Blueprint for Financial Success seminar is a great way to kick it off.”
Morris likes The Blueprint for Financial Success semi- nar because it covers a wide variety of topics in a
relatively short time. It also paves the way for future presen- tations and, more importantly, individ- ual appointments. “The groups I meet with can be fairly diverse, so I don’t necessarily know what everyone’s ‘hot button’ is when I begin. This seminar makes it easy for me to introduce topics like budgeting, cash flow, college funding, and risk management — and to see which ones are most impor-tant to them so that I can work with their employer to design future presenta-tions. It’s all very relaxed and low-key, so it puts the employer in a good light and helps plant the seeds for continued dialogue.”
Like all the other agents interviewed for this story, Morris firmly believes that the seminars he provides are a service, and he is hesitant to talk too much about specific products during seminars. “We touch on life insurance and other things, but if you come off looking like a salesman, you’re going to lose your audience. Seminars are a very effective tool, but you’ve got to be patient.
“The sales cycle can be pretty long, but if you’re sincere and honest with your audience and are committed to giving something back, you’ll ultimately be rewarded.” n
Kyle and Luke Herrington encourage clients to invite their friends to seminars as a way to develop relationships.
2015 Council Vice President Christie Mueller has long used seminars large and small to educate and let prospects get to know her.
• Be sure to visit the Seminar landing page on Agency Portal for more information on specific seminars, promotional materials, and compli-ance regulations.
• If you can’t find the seminar you need, or have questions about seminar marketing in general, please call Kim Bigger at (914) 846-5774.
• For information on the Maximizing Social Security seminar, contact product consultant CVP Gina Stoltz at [email protected].
• Not comfortable with public speaking? Not a problem. Your Sales Consultant (Life, Investment, LTC, Advanced Planning, EWL) stands ready to conduct seminars at no cost to help you build your business.
Get the Latest News on Seminars and Speakers
34 • New York Life The NYLIC Review • Spring 2016
There’s a lot at stake. According to LIMRA, only 25% of Americans getting ready to retire feel financially prepared to do so.1 A 2013 survey by Franklin Templeton Investments says 68% of those aged 45 to 54 and half of those aged 55 to 64 have $100,000 or less in retirement savings.2 On the other end of the spectrum, the over-50
population has more wealth — over half of all new cars are purchased by this market segment — than ever before.3 So it’s a mixed bag.
What’s not mixed is that everyone is living longer, whether they’re concerned about accumulating enough or disburs-ing it properly. And everyone wants to make sure what they have lasts as long as possible.
No matter which end of the continuium prospects are on, agents can help alleviate this concern better than anyone, and
provide a measure of certainty by taking the time to unpack the complexity of retirement planning and prepare need-based solutions.
The retirement market — already a highly competitive landscape — has become more complex now that the Department of Labor (DOL) requirements are known. Agents who position themselves wisely can help consum-ers manage their wealth into retirement. Below four agents offer insights on the importance of a personal
relationship; the benefits of offering a wide variety of solutions; including retirement income products, life insurance, and long term care; and playing the role of coach to your clients.
Listen, Learn, Teach “During my initial meeting with prospects, I never, ever talk about a product or a strategy, says Chairman’s Council Agent Blaine Johnson, Northern California Office. In fact, Johnson spends most of his initial meetings listening and educating. “I show why they are not where they want to be financially, and that understanding motivates them to see me again,” he says.
Johnson and other agents have found prospects use the Internet to become better informed about personal finance. That approach, while helpful for both agents and prospects, lacks a personal touch and caring, an arrow straight to the Achilles heel of the online experience. You just can’t have a personal relationship with a web site. It’s a weakness underscored by a recent opinion poll by Allianz Insurance, entitled “Generations Apart.” 4 Roughly two-thirds of respondents don’t trust onlineadvice and prefer to meet face to face with an advisor.
So Johnson makes in-person meetings a priority. “To meet the needs of a client preparing for retirement, an annual review is not frequent enough. I tell them, ‘We prefer to meet quarterly, but semi-annual will do.’”
Chairman’s Council Agents Scott Goodyear, Northern California Office and Pascal Nguyen, Orange Coast Office, say face-to-face meetings are open conversations. Goodyear says an important part of retirement planning is to be “the voice of reason.” In good economic times and bad, he cautions clients to avoid emotion-driven financial decisions. “Be a coach and help them understand risks.” And Nguyen adds, “You need to provide clarity to people’s plans. Help them define a lifestyle and show them how they can generate an income they won’t outlive.”
Healthy, Wealthy, and WiseBroad Solutions for Competitive Retirement Market
Reasons for life insurance
in retirement.
Leverage the money
in your IRA
Leaving your IRA to heirs?
Purchase permanent life
insurance with money
from your IRA now to
provide them with a tax-
free death benefit that
will likely be larger than
the amount they’d receive
from the IRA alone.2
Pension maximization
Permanent life insurance
can make it easier to choose
a larger single-life pension,
providing peace of mind
that a surviving spouse
will receive a tax-free
death benefit that can
replace lost income.
Supplement
your income
Cash value in a permanent
life insurance policy can
provide additional tax-free
income. As the death benefit
need decreases in retirement,
the cash value grows tax-
deferred and can generally
be accessed tax-free.1
Replace lost
Social Security
Permanent life insurance
provides a tax-free death
benefit that can replace
the Social Security income
that is lost after the death
of a spouse.
100%
Make the most out
of Social Security
Defer your benefit from
age 62 to 70 to receive 76%
more Social Security
income by using cash
value to fill the gap.1
Leave a legacy
The death benefit
from a permanent
life insurance policy
provides a tax-free lump
sum to beneficiaries.
Life insurance
in retirement
Manage your
tax bracket
Maintain a favorable tax
bracket by supplementing
your retirement income with
cash value from a permanent
life insurance policy.1
Final expenses
Money from the death
benefit of a permanent
life insurance policy can
remove the burdens of
funeral costs and estate
taxes from your heirs.
If something were to happen to you now, the death benefit from permanent life insurance can replace your
income. After you retire, there are various ways permanent life insurance can enhance your retirement.
1Cash value is accessed via policy loans which accrue interest and reduce cash value and death benefit. Cash value is accessed tax-free if structured properly.
2 Neither New York Life Insurance Company, nor its agents, provide tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional
before making any decisions. Withdrawals from the IRA will generally be subject to ordinary income tax. If taken before age 591/2, an additional 10% IRS penatly tax
may apply (25% if from a SIMPLE IRA within the first two years). If surrendering, surrender charges may apply.
Blaine Johnson
Americans are anxious about outliving income in retirement. And for good reason.
New York Life The NYLIC Review • Spring 2016 • 35
1 “Retail Retirement – Retirement Index Shows Many Still at Risk,” LIMRA, January 2015. 2“Franklin Templeton Retirement Income Strategies and Expectations (RISE) survey,” Franklin Templeton Investments, March 2013. 3 “Over 60 and Overlooked,” The Economist, www.economist.com, August 8, 2002. 4 “Allianz Generations Apart Study,” Allianz Insurance, January 2015.
Helping the Unprepared AmericanSpending time with prospects and clients also means providing service. Goodyear remains competitive by providing attentive service and insights into consumers’ different needs. Chairman’s Council Agent Aron Livingston, Jacksonville Office,
believes his attention to detail and preparation allow him to serve his clientele’s complete needs. ”Keep careful records of all your client communications and put together the best fact-finder you can. That’s critical,” he says.
Providing SolutionsWhile some ad campaigns give the impression that solutions are easy, experienced agents know they are usually anything but. That’s why in addition to building relationships and educating prospects, New York Life agents have a broad product array that can meet compli-cated needs. Once Goodyear, an expert on the California state employee system, understands what clients hope to accomplish, their risk tolerance and retirement time frame, he’s unlikely to recommend a single product to meet all needs. “We do a ton of workshops. We have 25 to 30 people per event. They all have 401(k) plans and need help to plan for retirement.”
A diverse mix of products is generally the best way to offer protection and growth, says Livingston, who works with state employees in Florida, so he proposes a mix of products like Guaranteed Future Income Annuity, Guaran- teed Lifetime Income, variable annuities, and whole life.
Ready PositionFor agents eager to work in the growing retirement market, Nguyen, who’s focused on retirement since he started as an agent in 1989, recommends: “Get into a study group. I’m in two. Agents can learn from each other and from the industry.” And make use of resources, he says. “Today, we have Nautilus, Eagle, Advanced Planning, and a wealth of other resources.”
Nguyen concludes, “This is a great time to be doing retirement planning. People need a lot of help, but the industry has a shortage of high-quality advisors. That’s where agents from New York Life can make a difference.” n
Pascal Nguyen
New York Life Secure Care, the first long-term care product in 12 years, is a logical fit with life insurance and annuities. VP Aaron Ball, Long-Term Care, says, “We can tell prospects, ‘We’re going to help you gen-erate wealth and distribute it, but let me also protect what you have
when you are still alive.’” Every agent should have a long-term care conver-
sation with clients as part of the holistic planning process, and long-term care insurance (LTCi) can
deepen relationships with customers and create other opportunities as well.
When Ball was an executive at Genworth, he discovered that most LTCi clients were the ones who asked their agents about the product — not the other way around. “Imagine what we could do if our agents were the drivers of this conversation. They would have a new opportu-nity to grow their business and have a bigger impact on people’s lives.”
New York Life Secure Care
Retirement isn’t what it used to beRetirement isn’t what it used to be.Advances in technology, generational demographic shifts, and new challenges are changing the way people view and plan for their retirement.
Pressure is put on Social Security and company pensions, for those that have them:
Bottom line: Those planning for retirement may �nd they need to save more money and can no longer depend on the traditional sources of income that previous generations may have taken for granted.
Life expectancy in U.S.Age 69.9
in 1960Age 78.8 in 20122baby boomers will retire between 2010 and 2030.1
58.6 million
Will you be ready to retire when you want to? Your New York Life agent can help.
ratio of workers to retirees contributing/withdrawing Social Security . In 1945: 42:1. 53
of baby boomers provide �nancial help and/or personal care for their senior parents.3
of parents are contributing to their adult children’s expenses.
The average education debt for pre-retirees aged 55-64 was just under
On average, the time spent in retirement has grown to
: Less than a quarter of Fortune 500 o�ered pensions in 2013 , down from 60% in 1998. 6
of people over 65 are still making mortgage payments. 4
18 years.
63% 41%
30% $8,000 in 2013.
43% of today’s workers are less than con�dent they’ll have enough to retire comfortably. 7
> ¼
Use marketing pieces available on Agency Portal to help break down the complexity of retirement planning.
36 • New York Life The NYLIC Review • Spring 2016
New Orgs on the RiseThree Agents Explain Their Early Success
Executive Council Agent Irma Ceja loves whole life insurance because she experi-enced its power first hand. When Ceja was 27 years old, she purchased a whole life policy from her brother, who is also a life insurance agent. Years later, when faced with her first daughter’s mounting college tuition bills, she withdrew $20,000 from the cash value to pay for almost two years of her daughter’s education. “I get very passionate when I talk to my prospects and clients about whole life insurance, because my family has personally benefitted from it. It’s real and it works, and I know it from personal experience,” Ceja says.
A New York Life agent since December 2014, Ceja markets to new homeowners and new business owners, and she uses social media — LinkedIn and Facebook, specifically — to help prospect for them. She’s a fan of Hearsay, posting two or three pre-approved articles weekly on her social media business pages.
Not one to hide behind the computer screen, Ceja does a lot of walk-and-talk
prospecting, and isn’t shy about knocking on doors and introducing herself to small businesses and homeowners. “It’s very exciting for me to wake up and wonder each day, ‘who am I going to meet today?’ Every day I meet two or three or new people. That really motivates me: meeting and helping new people each day.”
Ceja’s motivation is personal. Her daughter, Jeannette, became a New York Life agent in November 2015. Daughter Jovanna works part-time as Ceja’s assistant and attends college, and son, Moses, is in high school.
As a single mother of three, Ceja has had her share of ups and downs, and speaks with the confidence and warmth of a woman who is succeeding in spite of difficulties. “I get sad when I see other agents talking about leaving the business,” she says. “We all have rough days, but if you follow the New York Life process and do what they teach us, the results are going to show, so just keep at it.”
Chairman’s Council Agent Stacy Tidrow, West Texas Office, has been a New York Life agent since September 2014, but she brought with her a wealth of knowledge and experience from 23 years in the banking industry as a loan officer and vice president.
Tidrow’s success has come largely from focusing primarily on Employee Whole Life (EWL) and group policies. “Employee Whole Life is a great product for employees who might not be able to qualify for or afford life insurance on their own, because of a preexisting health condition,” she explains. “But with EWL, they can afford to have it through a group policy. So in that way, I really feel like I’m helping a segment of the population who might not otherwise have life insurance.”
Truck drivers and trucking company owners in the great state of Texas have
become Tidrow’s primary market, and most of her clients come now through referrals. “Building relationships with and taking good care of my clients is very important to me. Over time, I’ve built up trust and they’ve referred me to others in the industry, and that’s how I’m building my business,” she says.
“It all comes down to people,” Tidrow adds. “I love helping people, and that’s what motivates me — to get up and out there and help somebody every day.” Stacy Tidrow lives in Lubbock, Texas, with her husband, Barry, and their daughter, Callie, 8. They also have three grown children Dustin, 30, Brandon, 28, and Blane, 26.
Contract date: September 2014Council level: Chairman’s Life FYC: $164,384Market: Texas trucking companiesPrevious occupation: Banking Product focus: Employee Whole Life (EWL)MDRT
“ I really feel like I’m helping a segment of the population who might not otherwise have life insurance.”
Contract date: December 2014Council level: ExecutiveLife FYC: $92,553Market: Latino, families, new business, and homeownersPrevious occupation: Life insurance agentProducts focus: Whole life insuranceMDRT
Irma Ceja Atlanta Office
“ It’s very exciting for me to wake up and wonder each day, who am I going to meet today?
Stacy Tidrow West Texas Office
New York Life The NYLIC Review • Spring 2016 • 37
Chairman’s Council Agent Raymond Kinjo is following in the footsteps of his father, Chairman’s Council Agent Yoshio Kinjo, but it wasn’t a path he took for granted or without a few bumps.
Kinjo, 33, signed his Nylic contract in August 2014, and did his share of struggling. “A lot of people my age are having kids, so I used to prospect in front of day-care centers and try to talk to new mothers. I can tell you from personal experience that that does not work,” he says with a smile.
As a second-generation Japanese-American life insurance agent, he found a niche approaching the children of his father’s clients, who are the same genera-tion as he is and share culture. “A good chunk of my book is servicing my father’s clients’ kids,” he explains. In 2015, roughly half of his book was made up of life insur-ance sales, mostly whole life and some term. The other half was annuities.
Kinjo has also found success prospecting with his business LinkedIn and Facebook
pages. “Social media is a great way to keep my pulse on any kind of life events that my friends, colleagues and clients are going through. Trigger words and phrases that I look for are kids, retiring, new job, bought a home, getting married, events like that,” he says. “Then I’ll look for creative ways to meet with them offline.”
Servicing requests are another way Kinjo meets clients. “I get involved with many of the service issues that require Japanese language capabilities,” he explains. “So if someone calls the office needing help with something, I’ll jump on the phone and introduce myself so they know who I am.”
Kinjo considers his father his greatest center of influence. “It’s so important to have a mentor — someone who has a vested interest in your success. If you don’t already have someone, look for a successful agent who is where you want to be, who will help keep you motivated and account-able, and who you can follow in their footsteps to success.”
New Orgs have the chance to earn up to 5,000 bonus
Council credits for life case rate growth in 2Q!
Meet the following requirements by June 30 to have
your 2Q life FYC matched dollar for dollar in Council
credits up to $2,500 for a 2,500 Council credit bonus. If
you qualify for your bonus and your GO has at least 5%
growth in New Org life cases for 2Q, your bonus will double
— up to 5,000 Council credits!
You can choose to have your bonus applied to the 2016
or 2017 Council year. Make your selection on Agency
Portal, go to W.I.N. > Agent Incentives. If a selection is not
made and you qualify for bonus credits, they will be
applied to our current 2016 Council.
Council Credit Bonus
Agents contracted in 2016 or 2015: Write a minimum of 12 paid life cases.
Agents contracted in 2014 or 2013: Grow by at least 1 paid life case over 2Q 2015. If you had less than 12 paid life cases in 2Q 2015, you must have at least 12 paid life cases to qualify for your bonus.
Raymond Kinjo, MBA CAIA Fullerton Office
“ It’s so important to have a mentor — someone who has a vested interest in your success.”
Contract date: August 2014Council level: Chairman’s Life FYC: $134,930Market: Japanese and Japanese-AmericansPrevious occupation: InvestmentsProduct focus: Life insurance (mostly whole life) and annuitiesMDRT, NAIFA
Chairman’s Cabinet
President’s Council
Chairman’s Council
Executive Council
The Inn at Palmetto BluffBluffton, South CarolinaSeptember 23 – 26, 2016
JW Marriott Hill CountrySan Antonio, TexasOctober 23 – 27, 2016
Omni Plantation ResortAmelia Island, FloridaSeptember 26 – 30, 2016
Colorado Convention CenterDenver, ColoradoAugust 28 – September 1, 2016
38 • New York Life The NYLIC Review • Spring 2016
From the start of his career in February 1956, Scheuer based his practice on one principle: Service your client’s needs. When a sale is over, Scheuer’s job is just beginning. He makes himself available to his clients to answer questions, personally handle requests, and, most importantly, be a reassuring presence for grieving families of clients who have passed away.
“All agents that are very successful have something in common. They are service oriented. They fill a need for the client,” says Scheuer, a charter member of Chairman’s Council. “Be client-oriented and the business will be there. Don’t worry about the numbers.”
Like many agents starting out, Scheuer, now 87, relied on con-nections he’d made at previous jobs to get his practice off the ground. A former teacher, recreation supervisor for the City of Philadelphia,
and athlete, he quickly gathered referrals from former colleagues. He didn’t enter his new career with big ambitions, but set modest goals that would help him build a foundation for his practice — 10 apps and $40,000 of production per month. “I sold an awful lot of $10,000 policies in those days,” he says.
Scheuer grew with his clients, “People didn’t leave him because he was always there for them. He’s always been the service guy and there’s not a lot of turnover in his book of business,” says Janet Harbaugh, Scheuer’s youngest of three daughters and in line to be his successor agent.
”One of the things I have the most pride in, I don’t know about any policyholder complaints. With every new client, I do what I call a ‘simple program.’ I ask them, ‘What do you know about insurance?’ And I educate them on whole life, term, and universal life. This way, all my clients have an understanding of the options I put in front of them.”
It’s not just an absence of complaints. His clients are so loyal that more than a dozen paid him house visits to conduct business after he became homebound following a battle with cancer this past year.
“That really restored my faith in human nature,” says Scheuer. “If you do the right job in this business, people not only become your clients, but they become personal friends.”
Harbaugh, who recently entered the business, believes it’s important to keep the relationships her father built in the family. “He’s always been really proud to be an insurance guy and to show up with a check when people are in need. He gave people futures.
I want his legacy to remain in the family,” she says. Harbaugh recalls a moment from her childhood when Scheuer was on the phone consoling the widow of a client, who had passed away unexpectedly at 41. Harbaugh knew the man only as her father’s closest friend. As she listened, it was clear the woman’s son had taken the phone to ask a question. Harbaugh heard her father’s reply: “Your dad set a plan in place to protect you guys.” In that instant, she realized the impact her father had on the lives of his clients and their families.
Sixty years ago, Scheuer took a chance on a new career, one he never imagined would take him to places he’s been since.
“I was fortunate I went with the right company and met some great people along the way. I never thought about making the career that I had. I’ve always been proud of the company for what it allowed me to do in my life.”
Scheuer has made Council in each of his 58 years as an agent (he spent two years in management), but it wasn’t until he found his niche with business owners that he saw his career trajectory spike upward. “It elevated my aspirations and got me in front of people who make decisions in successful companies.”
Starting in 1964, Scheuer qualified for a combined 42 Chairman’s and President’s Councils, rising as high as No. 33 on the Chairman’s Cabinet list. Throughout all his success, he never lost sight of serving existing clients and the referrals they provided. n
L I V I N G L E G A C Y
Connie Scheuer Keeps in Touch
Agent Connie Scheuer, Greater Philadelphia Office (center), celebrates his 60th anniversary with New York Life surrounded by his family, from left, grandsons Brian Harbaugh and Danny Harbaugh; daughters Linda Scheuer, Susan Scheuer, Janet Harbaugh, and son-in-law Ed Harbaugh.
n the tennis court or around a conference table, Connie Scheuer, Greater Philadelphia Office, always had “the touch.” He was
blessed with the innate ability to solve his opponent — be it a lob shot to the baseline or, more importantly, recognizing the right solution to meet a client’s need. It’s Scheuer’s personal touch that’s kept him in the life insurance game for 60 years.
If you do the right job in this business, people not only become your clients, but they become personal friends.
— CONNIE SCHEUER
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New York Life The NYLIC Review • Spring 2016 • 39
over the previous four quarters, rewarding consistency.
Chairman’s Council Agent Taylor White, Dallas Office, uses his expense allowance numbers as a benchmark. “I watch Dashboard, and I understand the different percentages of participation that expense allowance has. I try to stay in the 40% to 50% range.” So in his case, his annual expense allowance could be 34% of $250,000 life and annuity FYC, plus 8% for being in Chairman’s Council. White says the information keeps him on track quarter by quarter.
The power of consistent performance — along with incremental improvement — also challenges the notion that agents need to score the big sale in order to do
really well. Not true. For example, if you started at $38,000 and improved 10% each year for 20 years, your FYC would hit $235,000 in year 20. Better yet, adding in renewals, expenses allowances, and so forth could bring your total annual income close to $600,000.
Knowing What to KnowHolmgren points out that failing to fully understand the income potential behind the Nylic contract can be detrimental, especially to new agents. “Nothing is worse than having a commitment to the overhead costs of setting up a new business and not knowing how you are going to pay for it.”
Executive Council Agent Brandon Paulseen, Kansas Office, who signed his Nylic contact in 2003, observes that it’s
tempting for new agents to be product-driven, but the contract encourages them to get established, and build their self- confidence. “The sooner you can go through the pain of getting your business on its feet, the sooner you can focus on being a better agent. When that happens, your business will take care of itself.”
Although new agents often do not fully understand what the Nylic contract can do for them, long-time established agents sometimes underestimate the contract’s power to give them a big boost late in their careers. For example, an agent who begins making about $40,000 life FYC in his 31st year can raise his Senior Nylic payments to about $30,000 in five years, and over $100,000 in 10 years. n
Michael Paul R. Arnheiter, CLU, Boston Office, has qualified for Council 20 times, including seven straight Chairman’s Cabinets. He was the 2012 Council Northeast Zone Vice President. Arnheiter is a five-time Centurion, and qualified for MDRT and the National Quality Award 20 times. He was the
Boston Office’s Agent of the Year in 2002. Arnheiter splits his time between his homes in Boston and Sanibel, Florida, where he currently serves as a member of the Sanibel Sea School Board. He is also a member of the NYLPAC Steering Committee and was an AAC member in 2015. In his spare time, Arnheiter enjoys golfing, running, traveling, and spending time with his wife, Julie, and children, Jack and Maxine.
Mario D. Crews, Fort Worth Office, has qualified for Council 16 times. He is a current member of MDRT, having qualified six times. Crews has been recog-nized by his office multiple times, including New Org Agent of the Year, Annuity Leader, and Paid Case Leader. He resides in Lewisville, Texas, with
his wife, Melissa, and daughters, Ashley and Amber. He enjoys ranching, hunting, fishing, and riding horses.
Fred Fatemi, MBA, CLU, LUTCF, San Francisco Office, is a lifetime member of Council, having qualified 20 times. An eight-time Centurion, Fatemi has qualified for MDRT 18 times and the National Quality Award twice. He is also a member of the board of directors of his local NAIFA chapter. Fatemi and his wife,
Sepideh, reside in Foster City, California, where he enjoys sports, swim- ming, and other outdoor activities. They have two children, Faraz and Ryan.
William G. Ferrara, Boston Office, has qualified for Council 15 times. He has qualified for MDRT seven times, the National Quality Award once. Ferrara and his wife, Patrice, have three children, Justine, Stephen, and David. They reside in South Weymouth, Massachusetts, where he enjoys
golfing, gardening, his local sports teams, and taking an active role in his college’s alumni association.
Jerry S. Soni, MS, San Fernando Valley Office, has qualified for Council 20 times. Soni is a current member of MDRT and has qualified for the National Quality Award. He is a former president of the International Association of Financial Planning from 1997-1998, as well as holding board positions
as chairman and treasurer. Soni survives his wife, Amrit, a fellow agent and Senior NYLIC. He currently resides in Granada Hills, California, where he enjoys playing tennis, performing yoga, and traveling. He has two children, Soni and J.J.
Bernard Tyrnauer, Manhattan Office, has qualified for Council multiple times and Centurion seven times. He has qualified for the National Quality Award, is a current member of MDRT, and has 13 Eagle Awards. He and his wife, Devory, reside in Brooklyn, New York, with their 10 children,
Shai, Baily, Miriam, Mindy, Yoel, Malky, Raisey, Shaindy, Elya, and Rachie. Tyrnauer’s uncle, Simon Kepecs, and nephew, Abraham Kepecs, are also among the NYLIC family.
We Congratulate Our Senior NYLICs, Who Have Been New York Life Agents for 20 Years.
S E N I O R N Y L I C S
Contract, continued from page 14
40 • New York Life The NYLIC Review • Spring 2016
Sunil Aggarwal, 60, Greater San Francisco Office (1983), August 30, 2015. Send condolences to his wife, Raman Aggarwal, 2216 Britannia Drive, San Ramon, CA 94582.
Barry Chase, 69, Boston Office (2011), December 11, 2015. Send condolences to his wife, Beverly Chase, 36 Justine Road, Plymouth, MA 02360.
James Davis, 77, Raleigh Office (1969), September 19, 2015. Condolences may be sent to his wife, Janice Davis c/o First Presbyterian Church, 203 Hawkins Avenue, Sanford, NC 27330.
Thomas Funnell, 91, Edmonton Office (1961), June 29, 2015. Send condolences to his son, Gordon Funnell, 113 Wood Buffalo Way, Ft. McMurray, AB, T9K 1W5, Canada.
Doyle Harkey, 81, Birmingham Office (1964), October 31, 2015. Send condo-lences to his wife, Bonnie Harkey, 5303 Fall Creek Place, Northport, AL 35473.
Raymond Jobin, 87, New Hampshire Office (1970), August 18, 2015. Send condolences to his son, Brian Jobin, 41 Heights Road, Barrington, NH 03825.
John Lanza, 95, Nassau Office (1956), November 12, 2015. Send condolences to his wife, Giorgia Lanza, 2514 West 2nd Street, Brooklyn, NY 11223.
Fred Lester, 72, Roanoke Office (1973), September 28, 2015. Send condolences to his wife, Mary Lester, 423 Marion Avenue, Tazewell, VA 24651.
Benjamin Liss, 85, Boston Office (1964), October 9, 2015. Send condolences to his wife, Barbara Liss, 5514 East Sandra Terrace, Scottsdale, AZ 85254.
Joseph Loposky, 82, Northeastern Pennsylvania Office (1959), August 3, 2015. Send condolences to his son, John Loposky, 302 Delaware Avenue, Endicott, NY 13760.
Edwin Martin, 84, Northern Ohio Office (1964), November 17, 2015. Send condolences to his wife, Phene Martin, 512 New Kent Place, Cary, NC 27511.
Christopher McCreary, 36, Dallas Office (2013), October 25, 2015. Send condo-lences to his wife, Gretchen McCreary, 1700 Rolling Brook Drive, Little Elm, TX 75068.
Robert Messersmith, 79, Inland Empire Office (1967), October 3, 2015. Send condolences to his wife, Geraldine Messersmith, 1035 Villa Nuevo, Riverside, CA 92507.
Jack Miller, 90, Northeastern Pennsylvania Office (1969), August 15, 2015. Send condolences to his wife, Marjorie Miller, 121 Tanasi Court, Loudon, TN 37774.
George Mio, 92, Orange Coast Office (1947), May 17, 2014. Send condolences to his wife, Ruby Mio, 5401 Torrance Boulevard, Apt. 317, Torrance, CA 90503.
Cecil Monroe, 91, Tulsa Office (1965), September 17, 2015. Send condolences to the estate of Cecil Monroe, 4506 S. Harvard Avenue, Tulsa, OK 74135.
John Moran, 84, Boston Office (1963), January 1, 2015. Send condolences to his daughters, Debra Targonski, 46 Kinsman Lane, Topsfield, MA 01983, and Janet Bonica, 280 Old Oaken Bucket Road, Scituate MA 02066.
John Newman, 83, Greater Detroit Office (1956), October 23, 2015. Send condo-lences to his wife, Dorothy Newman, 235 Stony Lake Drive, Oxford, MI 48371.
Lee Bruce Nole, 72, South Florida Office (1969), October 16, 2015. Send condo-lences to his wife, Lois Nole, 7689 Tahiti Lane, #106, Lake Worth, FL 33467.
Virgil Pagenkopf, 91, Wisconsin Office (1956), September 18, 2015. Send condolences to her wife, Gladys Pagenkopf, 2843 Nantucket Harbor Loop, Sun City Center, FL 33573.
C. Donald Pewthers, 79, Orange Coast Office (1961), September 18, 2015. Send condolences to his wife, Carole Pewthers, 2501 Crestview Drive, Newport Beach, CA 92663.
Franklin Pulliam, 92, Northern Virginia Office (1948), August 24, 2014. Send condolences to his grandchild, B. Ross Pennington, 2910 Ames Street, Wheat Ridge, CO 80214.
Jack Reese, 80, Dallas Office (1964), November 19, 2015. Send condolences to his wife, Louise Reese, 6324 Southpoint Drive, Dallas, TX 71269.
Walter Richardson, 93, Orlando Office (1947), November 26, 2015. Send condolences to his wife, Nancy Jo Richardson, 706 Faulkner Street, New Smyrna Beach, FL, 32168.
Raymond Rucker, 88, Westchester Office (1964), September 7, 2015. Send condo-lences to his wife, Evelyn Rucker, 350 Union Valley Road, Mahopac, NY 10541.
We Remember These Agents with Warmth and Respect and Salute Their Lifetime Contributions to the Company.
I N M E M O R I A M
New York Life The NYLIC Review • Spring 2016 • 41
Robert Sapanaro, 65, Arizona Office (1976), September 14, 2015. Send condolences to his wife, Janice Sapanaro, 6201 East Lafayette Boulevard, Scottsdale, AZ 85251.
Maralyn Scott, 72, East Bay Office (1982), July 24, 2015. Send condolences to her daughter, Myca Seaforth, 131 Vista Lane, Vallejo, CA 94590.
William Sheehy, 93, New Jersey Office (1946), April 5, 2015. Send condolences to his son, William Sheehy, 526 Mill Road, Yardly, PA 19067.
William Shepherd, 85, Mobile Office (1967), March 3, 2014. Send condolences to his son, Charles Shepherd, 9821 Noriega Drive, Pensacola, FL 32514.
Charles Simpson, 95, Orange Coast Office (1967), August 13, 2015. Send condolences to the estate of Charles Simpson, 3812 Sepulveda Boulevard, Suite 300, Torrance, CA 90505.
Dorothy Smith, 96, Portland Office (1965), August 7, 2015. Send condolences to her son, David Smith, 8310 NE Brazee Street, Portland, OR 97220.
Steve Snipe, 47, Greater New York Office (2001), October 31, 2015. Send condo-lences to his wife, Marceline Kakudji, 185 Prospect Avenue, Apt. 15H, Hackensack, NJ 07601.
J. Norman Soodik, 97, Pittsburgh-Johnstown Office (1947), August 23, 2015. Send condolences to his daughter, Karen Soodik-Kondeck, 215 Linden Avenue, Highlands, NJ 07732.
James Steen, 70, Seattle Office (1968), June 15, 2015. Send condolences to his son, Darin Steen, 3506 West Nob Hill Boulevard, Yakima WA 98902.
Richard Feldman RememberedA. Richard Feldman, CLU, ChFC, MBA, of the Northern Ohio Office passed away February 13 after a short illness. Richard, who was a New York Life agent for more than five decades, was the son of legendary icon Ben Feldman; brother of MDRT past-President and Life Happens
President Marv Feldman, Tampa Office; and father of Chairman’s Council Agent and 2010 AAC First Secretary Wendy Feldman, Arizona office.
Following graduation from East Liverpool High School in 1960, and Youngstown State University, Richard received his MBA in Banking and Finance from Case Western Reserve University. For over 50 years, he worked as a New York Life agent and was a life member of the Million Dollar Round Table (MDRT).
In addition to the many clients he helped for more than five decades, Richard was active in many local charities as well as an avid amateur photographer and drag racer. In 1986, he won the National Championship for Super Stock ‘O’ with his car, appropriately named “Mr. Security.”
Condolences may be sent to his wife of 44 years, Harriette, at 1691 Annesley Rd., East Liverpool, OH 43920, his brother, Marvin Feldman, at 2016 Eagle Pointe, Palm Harbor FL 34685, and his daughter, Wendy Feldman, 20202 E. Superstition Drive, Queen Creek, AZ 85142.
Franklin Stekert, 82, Fullerton Office (1986), March 28, 2015. Send condolences to his daughter, Denise Stekert, P.O. Box 1366, Magalia, CA 95954.
Fred Stephens, 83, Cedar Rapids Office (1960), July 25, 2015. Send condolences to his wife, Bonita Stephens, 1305 17th Street, Rock Island, IL 61201.
James Stevens, 96, Mississippi Office (1940), July 14, 2014. Send condolences to his daughter, Karen Lasik, 906 East 3rd Avenue, Ellensburg, WA 98926.
A. Ivan Swanson, 86, Tucson Office (1977), September 23, 2015. Send condolences to his daughter, Carla Swanson, 930 South Dobson Road, Unit 57, Mesa, AZ 85202.
Shirley Taub, 90, Greater Detroit Office (1960), September 18, 2015. Send condolences to his granddaughter Lisa Ritchie, 123 East 88th Street, Apt. 5A, New York, NY 10128.
D.M. Violich, 100, Greater San Francisco Office (1958), August 15, 2015. Send condolences to his nephew, Darryl Violich, 174E Moffat Road, Bethlehem, Tauranga 03110, New Zealand.
William Wallace, 83, Reno Office (1955), November 21, 2015. Send condolences to his wife, Mardelle Wallace, 3050 Idlewild Drive, Reno, NV 89509.
James Zeiner, 91, South Jersey Office (1951), September 1, 2015. Send condo-lences to his wife, Mary Zeiner, 5 Colony Drive, Trenton, NJ 08619.
42 • New York Life The NYLIC Review • Spring 2016
Calendar of Events
1–30 LGBT Pride Month
12–15 Million Dollar Round Table – Vancouver, BC
30–7/4 American Association of Physicians of Indian
Origin Convention – New York, NY
2 Council Close National Call-a-Thon
11–13 Nautilus Annual Meeting – Plano, Texas
24–25 Advisory Board of Directors (ABD) Meeting
– New York, NY
May
3–4 Managing Partners Advisory Council (MPAC)
Summer Meeting – New York, NY
7–9 Class of 2015 Summit, Encore Hotel, Las Vegas, NV
27–9/1 Executive Council – Denver, CO
10–13 Vietnamese Markets Agents Forum
13–16 Korean Markets Agents Forum
8–9 American College Conference of African-
American Financial Professionals – Tampa, FL
July August
June
New York Life The NYLIC Review • Spring 2016 • 43
A A C C O R N E R
Last year as AAC Vice President, I earned more Council Credits than ever in my 16-year career. How could that be, you ask? The AAC takes up so much time, shouldn’t production go down, not up?
Serving on the Agents Advisory Council (AAC) actually boosts your production, big time. In 2015, the AAC “Dream Team” — as Rick Paulsen affectionately called us — collectively increased our Council Credits by 50 percent — two and a half million Credits! Life FYC for AAC members increased by more than $2 million, and five out of 16 AAC members jumped to a higher Council — that’s more than 30 percent!
Consider my AAC colleague, Nelson Wood, Dallas Office. He comes from a long line of New York Life agents dating back to 1888. In fact, his grandfather served on the very first AAC committee! In 2015, he increased his personal production from Executive Council to Chairman’s Council. Already in the 2016 Council year, he qualified for Chairman’s Council by December 31, and he has his sights set on even higher goals.
What’s the connection between AAC membership and increased production? Think of the AAC as one big study group with some of the smartest and most successful agents in the company, all helping each other succeed. When you serve on the AAC, you’re in the company of 24 other successful agents who are eager to grow — and we all know a rising tide lifts all boats. When you’re around other smart, motivated entrepreneurs, you rise and grow, and ultimately increase your production.
“Serving on the AAC put me in an environ-ment where I was surrounded by other great agents and leaders, all selflessly giving up their time to help make the company better,” says Wood. “That attitude pervades the unique interaction and mutual encourage-ment the AAC is known for and leads to powerful results.”
The second reason serving on the AAC increases production is that it creates a sense of urgency in your day. Have you ever noticed that most agents’ production increases in the months of June and December? That’s because we have real Council and end-of-year goals, so we force ourselves to focus and prioritize our days more than usual.
When you serve on the AAC, the whole year is like June and December, because the added responsibility forces you to focus each and every day — not just in June and December. Adds Wood, “You can’t help but be more in tune with your priorities as an agent and seek to serve your own clients and community more fully. The AAC gave me tangible opportunities to improve my systems and efficiency in week-to-week time manage-ment, case tracking, and overall activity. I was challenged to give more thought to the items I should be delegating and those I should focus on intentionally for driving better results for both my clients and my own business.”
Clearly, serving on the AAC can lead to increased production and a higher Council level. But you have to serve on the AAC to receive the benefits of the AAC. So maybe it’s time that you considered submitting your application to run for the 2017 AAC this Council season!
To find out if you meet the AAC qualifica-tion criteria, and submit an AAC Candidate Application, on Agency Portal go to Careers > AAC News > Membership > Become a Member.
Have a suggestion for the AAC? Pay it forward by submitting your ideas via the AAC suggestion form on the home page of Agency Portal, and feel free to email me with any comments or suggestions.
Surrounded by Greatness AAC Experience Drives Agent Productivity
Mark Wiskus, CLU®, CAP®
2016 AAC President
Mark Wiskus, 2016 AAC President
President’s Council
Council 2016: Where does your journey lead?
Colorado Convention CenterDenver, ColoradoAugust 28 – September 1, 2016Premier Arrival: August 27, 2016
JW Marriott Hill CountrySan Antonio, TexasOctober 23 – October 27, 2016Premier Arrival: October 22, 2016
Omni Plantation ResortAmelia Island, FloridaSeptember 26 – September 30, 2016
The Inn at Palmetto BluffBluffton, South CarolinaSeptember 23 – September 26, 2016
Chairman’s Cabinet Chairman’s Council
Executive Council