Worksite
TMK1536 0510
Agent training only. Not for sales use.
Mondays
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Week 1: Sponsorships
Week 2: Worksite
Week 3: Sponsorships
Week 4: Worksite
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
• Prepare 100 Businesses per 2-Agent Team
1. Sales Genie
2. Organize List of businesses:
- Eliminate ineligible businesses
- 15-50 Employees
- Route Order
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Agents should calculate total potential ADP coverage for all
the employees in the business
# of employees x $3,000 = Total Potential Employee $ ADP coverage
+ (# employees divided by 2) x $3,000 = Total Potential Spouses’ potential
ADP coverage
+ (# employees x 2 children) x $1,000 = Total Children’s $ ADP coverage)
= TOTAL POTENTIAL ADP COVERAGE TO THAT COMPANY’S
EMPLOYEES
TMK1536 0510
PLACED IN BUSINESS
Agent training only. Not for sales use.
Worksite 2-Step
Step 1 – Securing ADP Enrollment
• Each 2-Agent Team goes to see as many
businesses from its list as possible
• No Selling, just securing ADP enrollments using
ADP calculation with total potential coverage for
strong opening statement to get decision
maker’s attention
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Script for Step 1:
“Mr. Smith, Liberty National has authorized me to place a
potential total of up to $130,000 or more of Accidental
Death coverage. This lets your employees ‘test-drive’ our
company for an entire year, in hopes that when they have
other insurance needs you will call us first. No premium will
be due until the end of the first year and if they wish to
continue the coverage, they simply pay the $10 premium at
that time. Each employee will be eligible to receive $3,000
in coverage, their spouse can get $3,000 of coverage and
each of their children can get $1,000 of coverage. All I need
to do to offer your employees this coverage is to set up an
enrollment date. Which works better for you, this week or
next?”
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Step 2 – Scheduled ADP enrollments visited in the
next 2 weeks
BM has each 2-agent team set plans for the
second call. The goal is to show the total
approximate10-year tax savings generated within
the business from Section 125 qualified AP.
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Use this formula:
# employees
x $400 AP average Group Term Life AP
x 10% estimated employer tax savings
x 10 years
= Total Approximate Employer Tax Savings
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Use this formula:
# employees
x $400 AP average Group Term Life AP
x 20% estimated employee tax savings
x 10 years
= Total Approximated Employee Tax Savings
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Use this formula:
Total Approximated Employer Tax Savings
+ Total Approximated Employee Tax Savings
= Total Approximated Employee Tax Savings over
10 years within the business from Section 125
qualified AP
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Example
20 employees
x $400 AP average Group Term Life AP
= $8,000 Section 125 eligible AP
x 10% estimated employer tax rate
= $800 potential employer tax savings
x 10 years
= $8,000 potential employer tax savings
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Example
20 employees
x $400 AP average Group Term Life AP
= $8,000 Section 125 eligible AP
x 20% estimated employee tax rate
= $1,600 estimated employee tax savings
x 10 years
= $16,000 potential employee tax savings
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Example
$8,000 potential employer tax savings
+ $16,000 potential employee tax savings
$24,000 Total Approximated Employee Tax
Savings over 10 years within the business
from Section 125 qualified AP
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Each 2-agent team will go back to the businesses
that accepted the ADP enrollment, using the
estimated total tax savings within the business for
your strong opening statement to get the decision
maker’s attention.
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Script for STEP 2:
“Mr. Smith, upon returning to my office the other
day, I conducted some calculations which have
identified a way we could potentially save you and
your employees up to $24,000 or more in taxes
over the next 10 years - by simply adding one
product to your upcoming ADP enrollment.
TMK1536 0510
Agent training only. Not for sales use.
Worksite 2-Step
Script for STEP 2 (Continued):
“Let me show you how - (using the previous
formula) at no direct cost to you, we could save
your business up to $8,000 in taxes over the next
10 years, while saving your employees up to
$16,000 over the next 10 years, all by adding only
one IRS Section 125 qualified life product - again
at no direct cost to your business. Let me
explain… (use the ‘Tax Savings – Employer’
Laptop Presentation).”
TMK1536 0510
Agent training only. Not for sales use.
Worksite Resources
TMK1536 0510
Agent training only. Not for sales use.
Worksite Marketing Page
TMK1536 0510
Agent training only. Not for sales use.
Steps to Success
TMK1536 0510
Agent training only. Not for sales use.
Step 1: Supplies
Order your supplies
Organize your prospect notebook
TMK1536 0510
Agent training only. Not for sales use.
Step 2: Study
Learn about:
Your company
Your products
Rules concerning worksite cases
TMK1536 0510
Agent training only. Not for sales use.
Step 3: Search
Prospect for eligible businesses by:
Using Two-Step Prospecting Method
Using Sales Genie
Asking Family and Friends
Networking
Chamber/Professional Organization Events
Customers
TMK1536 0510
Agent training only. Not for sales use.
Step 4: Surveys
Complete survey for every business lead
Fill in missing info through Phone Calls & Walk ‘N’
Talks, using scripts
TMK1536 0510
Agent training only. Not for sales use.
Step 5: Schedule
Your goal is to get an appointment with the person who
handles employee benefits
Use Phone Call or Walk ‘N’ Talk script to secure
appointment
Let’s talk about common objections and rebuttals
TMK1536 0510
Agent training only. Not for sales use.
Step 6: Solicit
Should always involve a member of management
Create your master packet
Let’s review the sample presentations
Let’s talk about common objections and rebuttals
TMK1536 0510
Agent training only. Not for sales use.
Step 7: Secure
Complete the Electronic Worksite Packet or paper
packet (more on this later)
Get a copy of the employee roster with hire dates
Submit to the Home Office for approval
Deliver Employer Implementation Manual
TMK1536 0510
Agent training only. Not for sales use.
Step 8: Sign-Up & Sell
Prepare for enrollment
Communicate with employer and bookkeepper
Give away introductory offer first
Sell their need and stress the tax savings and
convenience of payroll deduction
Upload e-apps
TMK1536 0510
Agent training only. Not for sales use.
Step 9: Service
Meet with the bookkeeper (more on this in a minute)
Track policies through underwriting
Deliver policies to the customer’s home for more
potential sales/sponsorhsips
TMK1536 0510
Agent training only. Not for sales use.
Required meetings with the bookkeeper
1. Meet with the bookkeeper as soon as the employer
agrees to establish the program. Review the
schedule for the enrollment. Determine when the
bookkeeper needs the authorizations so that she
can make the first deductions the first week of the
deduction month.
TMK1536 0510
Agent training only. Not for sales use.
Required meetings with the bookkeeper
2. Meet with the bookkeeper as soon as the
enrollment is concluded. You must make sure that
you get the authorizations to the bookkeeper
before the date she requested.
3. Call the bookkeeper the week before the
deductions are to begin. Verify that she has
everything she needs to begin the deductions on
time.
TMK1536 0510
Agent training only. Not for sales use.
Required meetings with the bookkeeper
4. Call the bookkeeper the week the deductions are
to begin. Verify that the first deductions are starting
as scheduled.
5. Meet with the bookkeeper when she receives the
first billing. Work side-by-side with her to be sure
she understands how to delete terminated
employees and remind her when the first premium
is due.
TMK1536 0510
Agent training only. Not for sales use.
Required meetings with the bookkeeper
6. Call the bookkeeper to verify that she mailed the
first month’s premium on time.
7. Call the bookkeeper each month when she
receives the bill. Answer questions and meet with
her if required.
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide: Introduction
Types of cases
Qualified benefits for Section 125
Employer and Employee benefits
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide: Approval Guidelines
Eligible Employees
Qualified Employers
• Approval-Required Industries
• Ineligible Industries
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide: Required Forms Packets
Plan Adoption Agreement
Payroll Deduction Agreement
Points to Remember
Application for Group Term
Employee Roster
Payroll Deduction Billing Information Sheet
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide: Three Periods of Worksite
I.
Enrollment Period
Enrollment period varies with number of employees
3 products during initial enrollment
Paperwork to be filled out by employee:
Summary Plan Description
Payroll Deduction Authorization
Salary Reduction Form
New Business Transmittal
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide: Three Periods of Worksite
II. Deduction Period
Deductions begin the first pay period of the month
following the Enrollment Period
TMK1536 0510
Agent training only. Not for sales use.
Agent Guide: Three Periods of Worksite
III. Policy Effective Period
Policies have an effective date of the month following
the Deduction Period.
Coverage begins when the application is signed for the
amount we ultimately issue
TMK1536 0510
Agent training only. Not for sales use.
Electronic
Worksite Packets
TMK1536 0510
Agent training only. Not for sales use.
Electronic Worksite Packets
Advantages
• Cannot submit with errors
• Repetitive info prepopulates
• Enrollment period, effective date, deduction date
automatically set
• Prompts for employee roster
• Faster Franchise Number
TMK1536 0510
Agent training only. Not for sales use.
Electronic Worksite Packets
Advantages
• Employer can type signature
• PDF saves to folder w/name of business and date
• BM does not have to sign, but must send to Home
Office from BM email address
TMK1536 0510
Agent training only. Not for sales use.
Other Things You
Should Know
TMK1536 0510
Agent training only. Not for sales use.
Worksite Quality Approved Branches
How do you qualify (subject to review quarterly)?
• Payroll Deduction DCN of 10% or less
• Payroll Deduction Persistency of 73% or more
• Branch Manager must be in place long enough to
establish QOB
• $13,000 or more total issued PD AP during the
reporting period
TMK1536 0510
Agent training only. Not for sales use.
Enroll Cases ASAP
• The Home Office monitors cases that are approved
but not enrolled
• Branch Managers receive a warning email each
month
• After 120 days with no applications, the case can be
assigned to another Branch
TMK1536 0510
Agent training only. Not for sales use.
Worksite Quality Approved Branches
What are the benefits?
• Cases approved with as few as 5 eligible employees
and 7 policy requirement will not apply
• Can request a waiting period as short as 3 months in
order to “match” the employer’s eligibility period for
benefits
TMK1536 0510
Agent training only. Not for sales use.
What have you put on your
To Do List?
TMK1536 0410
0510
Agent training only. Not for sales use.