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Jason Powers: I’m Jason Powers and today I’m joined by Greg Cain, good friend of mine, sales executive group benefits at Principal Insurance. Welcome to the Carrier product update. This is our Q4 kickoff summit. Greg, welcome to the show.

Greg Cain: Thank you. Glad to be here.

Jason Powers: Appreciate having here, man. We’re going to jump right into it, because you’ve got a lot of stuff to talk about with Principal. This is the time of year where we’re heading into Q4 renewals so, agents are looking for what’s new on the product side of things? What’s new on the network side of things? What kind of deadlines are they looking for on the submissions? And if you’ve got any incentive programs? So I’ll let you dive right into it.

Greg Cain: Great. Thank you. I appreciate it. And happy Earth, Wind and Fire Day.

Jason Powers: Yeah.

Greg Cain: It’s 21st of September.

Jason Powers: Yeah.

Greg Cain: So thank you and welcome everybody. Thank you so much. Appreciate the opportunity.

Jason Powers: Isaac, can you go ahead and flip the slide there? There we go.

Greg Cain: Yeah. So, just real quick, I mean, from a Principal perspective, a traditional non-medical carrier. From an ancillary perspective, that’s going to include dental insurance, life insurance, disability income replacement insurance. I think I said vision, critical illness, accident, your core products. And if you think about Principal from a global kind of high level perspective, certainly we do a lot of different things, domestically and internationally, but from a bit of a benefit perspective, we are a top player in the marketplace.

I think if you look at the slide, we’re number three in total contracts provided in the industry. But if you look at year over year sales and year over year contracts written, I think this year we’re finally going to overtake that number one position. So, we’re going to write the most contracts in the industry in 2022, so that reflects our strengths in the small case market.

I think when you look at Principal and our strengths and what that small case market reflects, we’re looking for clients 100 employees and under, maybe up to 200 employees and under. But certainly that threshold of 100 and under, I think that the lower we get, kind of [inaudible] the better we get because of some of the things we do contractually and how we bundle in the products and services.

Jason Powers: Yeah, I’ll say that, very, very important part of what we do here at Legacy, Principal plays a big role in our ability to provide ancillary coverages to the market and it’s a whole portfolio, right? It’s not one thing better than the other. I mean, you guys really have a robust portfolio of products that give us the ability to package everything with one carrier, making things a lot easier. We were primarily focused on medical here, but I’ve learned over the years, working with you, Greg, don’t forget, don’t leave that on the table, right?

Greg Cain: Yeah.

Jason Powers: Make sure that we’re adding in. And that portfolio is… There it is on screen, that’s it right there.

Greg Cain: Yeah. I think what we do… I mean our whole goal, we want to compliment what you do. We want to compliment what your advisors do, and at the end of the day we want to compliment what those clients underneath that, for those employers, for those employees. Be easy to work with. Be easy to access benefits, be easy to understand what we’re offering and, of course, be competitive. I mean, it all goes without saying you have to have a competitive product in the marketplace.

If you look at our footprint for products, I kind of mentioned it in the opening, our case size threshold, this is changed in the last 12 months. We are now down to two employees or bigger, so two plus lives. I will say there’s a little kind of an asterisk on the two life group. We do require that a two life group is not related by blood or marriage. If it’s three or more, that rule is out the door. But if it’s two life group, that is a rule.

But everything we do from the top, from dental, all the way down to the bottom of accident, those are all accessible down to two employees enrolled. There are a few little rules in regards to how we can quote voluntary benefits as opposed to employer paid benefits. I won’t get into semantics of that, but at the end of the day, I think what Principal champions itself on is delivering quality products that are easy to utilize, easy to service.

We’re not perfect, but I think the way we kind of build our team, locally, for you, for your brokers, it really provides a strong support for any client, because we’re not a carrier that differentiates the service model based on case size. You get me and my team from two lives and up. So, a two life group, 1,000 life group. It doesn’t really matter. You’re getting my Kansas City team every single time and I think we’re pretty good at what we do.

Jason Powers: Yeah.

Greg Cain: Yeah.

Jason Powers: Well let’s start with the big one, right? Dental’s the main product, I think, we quote here with Principal, but it’s not the only one, but certainly one of the stronger ones.

Greg Cain: Yeah, so I think if you look again, you go back to ease of contract, a simplicity of the solution. We’re going to start with you to no waiting periods ever. Whether it’s a startup group, whether it’s a two life group, whether it’s a 1,000 life group, it really doesn’t matter. The same principles apply to the plain assign. No waiting periods, whether that’s for timely enrollments or late entrance.

The middle bucket there. I mean, we were talking about taking over because if you think about the marketplace in today’s world, it’s different than what it was 20 years ago. Most clients in today’s world have existing coverage. There are the exceptions. So, a lot of times the questions come up. “Well, if I move a client on effective date of October 1st, what happens to the deductible credit or what happens to the annual maximum?” Well, we will give them a full credit at that midyear effective date from a calendar year perspective but we’ll also refresh the max. So, if it’s a $1,000 max and somebody’s already used that maximum up to the October 1st effective date, as this example, look at a clean $1,000 maximum, last three months of the year but we’ll also give them deductible credit. So small things, but they all add up.

Jason Powers: You say it, they are small things, but what’s interesting is I think I’ve been selling Principal so long and you’ve had features like this, that I’m used to. That when I looked at an unnamed carrier’s proposal on dental and see, man, they’ve got these provisions that I hadn’t even thought to look for, for so long just because Principal’s been sort of the catalyst through the… Really the main carrier that I’ve seen in market. So, I like that you don’t have waiting periods ever on any of those cases.

Greg Cain: Yeah, it goes back to I think… And I think one thing Principal does very, very well is I think the alignment of actuary product, underwriting, sales, it’s very clean and smooth and efficient. Meaning that the end, think about noise and service issues that your brokers might receive, which then comes back to you, which then comes back to us.

To be able to deliver a product that removes some of the things that cause noise, waiting periods, maybe deductible credit. I mean all the little things that can happen. Again, our goal is to make that member experience as easy and clean as possible to make yours and your agents’ lives easier. And so they can focus on the big ticket item which is, of course, health insurance, which was yesterday’s topic.

Jason Powers: Yeah, yeah.

Greg Cain: We talk about provisional benefit and provisional flexibility. I think the only thing I want to talk about here is just, you can say there are two plans that are alike, but at the end of the day, no two plans are alike. I mean there are always going to be little nuances and differences between carriers and contracts.

And Principal, we have complete flexibility over nearly every single provision, every single service, within preventive, basic or major categories. And we can really customize contracts and solutions to fit maybe an existing need or maybe a future need from a client. That includes usual customaries. We talk about PPO network is certainly important. Strength in PPO networks is certainly goes without saying how important it’s to deliver discounts and save that plan some dollars. But also to be able to deliver a strong out of network and usual and customary allowance to have flexibility on that category as well can be equally as important.

A few things that we tout a little bit. So we talk about additional oral health programs and this is something that that’s been gosh in place with Principal for… I mean, since I’ve been here for 11 years, I mean we’re talking 15, 20 years that these have been part of the equation. So periodontal, additional periodontal cleanings for folks with diabetes or heart disease or for pregnancy, these are at risk individuals. So we deliver additional cleanings within the plan for these individuals. Cancer treatment, if somebody’s going through chemotherapy or head neck radiation, also access to additional services within the plan.

And of course the last thing right there is more, I think the value of knowing what you’re buying is important within any scenario. And certainly dental insurance is secondary to health insurance. But if you’re getting a big ticket item, whether it’s a root canal or a crown or something that’s outside your normal six month checkup, we do allow employees or members to get a second opinion on that possible service the dentist is asking to be done just to make sure that they have peace of mind, that it is the right course of action for the dental leads.

Jason Powers: Yeah. Yeah. And so I think we talked about networks. Do you want to move on to disability now?

Greg Cain: Yeah, absolutely. I guess the one thing I’ll note on dental insurance, I think that we tap quite a bit. I mentioned in our case size focus, I mean we will go above 100 employees if you have the right fit. But I would say from a footprint perspective, probably 95% of the business we’re writing is under 100 employees. And I think one of the additional values we do within the dental book of business is we cap every renewal every year. So in our dental insurance block for clients under 100 employees, our dental rate increase will be no more than 4.9%, period. And that’s first year, second or third year and beyond, it doesn’t really matter how long the case has been with us will never ask for an increase longer than 4.9.

Jason Powers: Yeah.

Greg Cain: Yeah.

Jason Powers: And we see that. I can say that Theresa obviously works to get it lower than 4.9. And Principal looking at our book of business as an agency, I think is as a willing partner in that negotiation. But yeah, I can testify that it’s never been more than 4.9 and on a $25 dental premium getting under five percent, that’s usually less than a buck, so.

Greg Cain: Disability insurance. So I would say my background, I was an underwriter my first five years. For two of my twelve years.

Jason Powers: It’s what I like about you.

Greg Cain: I can get a little technical, we won’t get too deep here, but I will tell you disability, income replacement insurance. I mean, there’s a lot of nuances and details that really matter in a contract. And so my background as an ex-underwriter, this right here kind of speaks my language. So from an income, I actually truly believe that the Principal from a strength of contract perspective for our core market, again, under 100 employees, I think we’re hard pressed to find a better solution in the marketplace, I’ll open with that.

This includes, of course, short term disability, which I think you can certainly argue that isn’t a whole lot of bells and whistles that can make a difference in that product. And I’d agree with that. But what it really matters I think is when you have a catastrophic in injury or disability and somebody can’t work for the next 20 to 30, 40 years depend on the age, longer disability is were really, really working matter. And I think we do some things on that product that really can make a difference for your key employees.

We can talk about the definition disability, the own job definition. I will mention own job definition is own… And I guess they’ll say short term disability there, but own job, we do incorporate that language and in our [inaudible] contract, the residual or definition of disability, which means that we’re going to use either the inability to earn an income or the inability to do their occupational duties or piece of that. We use that in both our short term and long-term contracts.

Again, it just gives maximum flexibility for that member to satisfy the definition. So then for us to pay claim. Again, it goes back to be an easy carrier to deliver upon expectations to the member that we’re going to pay claims. Again, the client wants to make sure that they’re buying the promise that we’re going to pay claim that’s expected to get paid. The or definition delivers on that more often than any other contract in the marketplace.

Jason Powers: This is where I get being the health guy, not the disability guy. I feel like this is a feature that if a broker’s out there showing Principal’s disability versus somebody else’s disability, can we dive into that core? I know that’s a Pandora’s box because I know you well enough Greg, that we could talk about this.

Greg Cain: If I had a white board, it’d be great.

Jason Powers: Right, but the or really does. I mean, it really is the differentiator in the contract. It’s a simple two letter word, but it does make a difference in the making Principal’s contract. I guess what I’m trying to say is when we’re showing Principal disability versus an unnamed carrier’s disability program, that word two letters, or, makes Principal a much better contract and at least from a claims payment perspective.

Greg Cain: Yup. Right. And I think it points to really your key employees. So within any kind of group you’re going to have your revenue generators and you might have your rank and file. And that’s just the dynamics of most companies.

The rank and file employee, although very valuable to a client [00:14:30] they’re skillset and value to the employer can probably be replaced a little easier. And those employees are typically, usually hourly, sometimes they’re salary, but usually hourly and for an employee like that in the rank and file category, if they’re injured and not working, they’re not making any money, period. It’s just not happening. So for that claim, it’s pretty black and white. Whether you have an or definition or an and, the difference between the two or maybe just have a singular earnings’ definition test or a singular occupation test for duties for the rank and file, it probably doesn’t matter. And I would admit that.

For your key employee, for maybe your owner, the folks that are writing the checks for the premium, it’s different. And let’s take the owner for the example. So you have a key shareholder or singular owner for a company. If they get sick or injured, are they take a pay cut?

Jason Powers: No.

Greg Cain: Probably not.

Jason Powers: No.

Greg Cain: Now it might be to their benefit though, maybe to stop working or stop taking a paycheck. But each company’s different each situation’s different and that’s where the or definition can deliver a lot of power because we don’t require that owner to take a pay cut to qualify their claim. Okay. So the owner of the company gets a significantly injured, can’t work, at least can’t do the duties he did before. At any level of capacity, maybe he can make phone calls from a bed, but it is varying degrees of who knows what. We will not require him to take a pay cut.

So the qualifying period, let’s say it’s a 90 day contract. So in the first 90 days he takes no pay cut because he owns the company. He ain’t got to take a pay cut. He’s got a family to feed. At day 91 he could. But again, he’s talking about his ability to survive. That’s where our contract that allows maximum flexibility. A, he’s going to qualify for claim with Principal and B, because he owns the company he can maximize his ability to maybe take income from the company and receive benefit from Principal.

And I will tell you, it can get even more detailed there because I let’s go back to our target market under 100 employees. And in most states that we compete in, which is pretty much every state, but I’m very familiar with Kansas and Missouri, most clients under 100 employees in Kansas, Missouri, they’re going to be organized as an LLC or an S Corp. The shareholder or the owner depending on what the makeup is, there is probably a level of W2 income. There’s also dependent on how health the company is, could be a very healthy K1 distribution. We will include both W2. So now we’re getting into really the weeds here. So we’re digging into it.

Jason Powers: And you’re trying to define income there.

Greg Cain: Right. So two things there. We’re defining income. We’re going to include both W2 and K1. So we’ll maximize the ability to receive the highest benefit possible with Principal by incorporating both W2 and K1.

Jason Powers: And K1, yeah.

Greg Cain: For the owner, again, we go back to, is he going to take a pay cut? Well, the answer is no, he’s not going to take a pay unless he can afford to do it. And I will tell you a Principal. We allow that flexibility where he can afford to take a pay cut to help maybe the health of the company, but also not penalize his own family. Because once the owner’s on claim, they can continue to receive full K1 and we will not offset or reduce our benefit for full K1. And so they can get a full benefit from Principal and the full K1 profit distribution and we won’t touch either. And in some cases, depending on the makeup of the income stream for the owner, he might actually make more money with Principal because we don’t offset it.

Now that being said just what it allows… And that’s the solution, the keyest employee… And that’s not a word, but the key employee or the owner, it gives them maximum flexibility to make sure he and his family’s taken care of and allow the revenue stream to be put back in the business. Because reality is if he’s not working or she’s not working, the company could take a hit and he can reinvest some of that and redivert some of that money because we allow for that flexibility.

Jason Powers: Yeah.

Greg Cain: Makes sense?

Jason Powers: Thank you.

Greg Cain: Yeah.

Jason Powers: I’ll pull you back out the weeds now. But I think that’s so important when looking at proposals because a lot of time agents are just looking at rate, particularly in the fourth quarter, they’re just looking at proposals or looking at rates. They may not be comparing those benefits to that kind of degree. And I think it’s really easy to miss two letters in a contract. So I’ll pull you out of the weeds. We’ll get into-

Greg Cain: Yeah. I’ll touch on one thing right here. So this slide right here, this is probably the one concept that Principal does that I really love talking about, because this really hits to maybe the topic I just talked about. So that key owner, that key employee, that key revenue generator, that drives revenue for the company and drives maybe a lot of income, probably a lot of them income for themselves. Many times the group disability contract often it’s a $6,000 max, maybe sometimes it’s $10,000. But if you have some key rainmakers that are making 300, 400, $500,000, which is not uncommon in certain industries, in certain groups, the income exposure that individual can have, and this can include the owner as well, is not adequately covered within the group contract. Because if they have a 6,000 or $10,000 max, it just isn’t enough to replace the income lost potentially if that they get disabled.

So this slide right here is talking about supplemental coverage. You can see on the top bubble Individual DI Coverage, which is individual disability insurance coverage. Principal, and we won’t get into the weeds on this, but I’ll just put a little nugget. We are one of a few small carriers that can deliver individual disability insurance within a group setting at guarantee issued offerings. So no medical underwriting. And what we’re doing here is we’re identifying clients that have individuals that are making well above the max benefit allowable in the group contract and delivering additional income replacement, the guarantee issue. And it’s a really neat solution.

Jason Powers: Yeah. All right, moving on from DX. I know you and I can talk about, well you can talk about it.

Greg Cain: Right.

Jason Powers: I don’t have enough knowledge to do much more than quote it, but I know you’re the expert in the room. But something that I think that is really important that’s come out of the last two years in COVID is really strengthening the EAP programs. We’ve seen the group health plans take a step beyond just covering mental health services by offering AAP. What’s Principal done here?

Greg Cain: Yeah. I love what we’ve done here. I will tell you, I went through my own personal battles. I think about two and a half years ago, 2020, it was an interesting year for all of us. And we all had to kind of figure out, learn how to navigate at that point in time. But we’re really weird, strange in different world, but I think we all felt at some point in time throughout that process, the impact of mental health and mental health awareness.

And so employee assistance programs certainly can be a key complimentary, a value add, to the benefit of a package. Historically speaking, our core EAP, which has always been instilled is connected to our short term, long term disability solutions. It can be, with exception, added to our base life contract, it just depends on unique features of the group. But historically our core EAP was telephonic only. And it was a nice solution, it checked the box. It allowed employer to say, “Yes, we have something,” but it really didn’t deliver in my opinion, a whole lot of value. So now effective, it really effective just 9/1, September 1st, we’ve emboldened our EAP program. It now includes three face-to-face visits per employee per year which really goes a long way to start identifying those potential mental health needs.

Jason Powers: Yeah, for sure.

Greg Cain: This is more short risk. We’ll just real quick. I mean, every guy… I will say this, every carrier has this. This isn’t unique to Principal. The one thing-

Jason Powers: You do want to stay on disability claim, you trying to get them off.

Greg Cain: In my opinion, I think short term, long term disability is it’s labeled incorrectly. It really is return to work insurance. The goal for a short term and long term disability claim is to result in a return to work scenario. And so these right here, these provisions, point to a carrier’s ability to get somebody back to work efficiently.

Jason Powers: Well said.

Greg Cain: Again, I think Principal has great services for our claimants, this reflects that. I can’t say we do this better than anybody else, any carrier that’s been in the business for the last 40 years, they’re going to invest in these kind of resources, just like Principal has. And so that these are all important things for a claimant who at their greatest time of need, financially speaking, we’re providing a care and assistance and every category possible to get them back on their field. Because anybody who can return to work, anybody who can go through the process and with these kind of resources, registered nurses on staff, occupational associates, claim specialists, social security advocates, all these people, all they’re doing is that we’re trying to get this person back to a positive mental health state, positive physical ability to go back to work.

Jason Powers: Let’s move on to probably I would call this the gateway product, the ancillary, right? One of the easiest ones to tack onto a proposal, low cost group life. But you’ve got some additional features built in as kind of value adds for your group like process.

Greg Cain: Yeah. Yeah. So I would agree with that. I mean if you look at our case count. So again, our target market, I keeps going back to that under 100 employees. And we talk about what we do from a carrier perspective, we write lots of groups, lots of contracts, meaning lots of lines of coverage. Life insurance, voluntary life probably are our leaders. Dental vision are soon to follow and you’re 100% right. Almost every client has. This is certainly a gateway benefit into the strengthening that benefit package for employees and includes both base life group, group term life. What I would call base life and then voluntary term life which would be the employee paid option.

We’re going to tout certain flexibilities. Voluntary term life we’re going to go up to in most cases, half million dollars of coverage. Base life, depending on the right client, we will go up to a million dollars, I’ve actually seen us go above that for unique solutions. But the point being here is a lot of flexibility, a ton of flexibility. And we can provide a lot of assistance in regards to how structure a plan. If somebody’s looking for ideas or things that to be aware of or going to do that. I mean, the first thing that comes to mind is, and not the same people are bound by that $50,000 threshold, but the IRS allows up to $50,000 of coverage with no tax consequences. They say anything above 50 is considered a fringe benefit. It’s just a good rule of thumb to know.

I’m always surprised how often advisors don’t know that rule. But a lot of advisors are focused on medical insurance, right? So these are just small little things that we can help them navigate for themselves and their clients.

Jason Powers: Absolutely. And there’s additional riders that we can tack on to group life and voluntary life.

Greg Cain: Yeah there are. So obviously the main one is accidents and dismemberments, I mean that’s certainly kind of a staple. The things I would say that we add onto this from a value add perspective is travel assist benefits. We have travel assistance rider that gives a little value for somebody who might be traveling 100 miles from more away from home. We also do the will and legal document center, which provides them access to state file and approved power of attorney, wills, medical power of attorney, all that kind of stuff that can cost real money. And I will tell you that those are services that when utilized really provide a lot of value.

Jason Powers: Yeah. As well as beneficiary support, right?

Greg Cain: Yeah.

Jason Powers: So then we’ve covered DL, disability, life, moving on to vision. You look sharper the glasses. I like the new rims. I recently got prescribed glasses myself after 40 some odd years of being 20/20 vision. So what’s going on in vision?

Greg Cain: So vision is so what we leverage and we partner with VSB. So that’s our network, great partner. I mean the kind of Cadillac network in the marketplace. We have a number of levers we can pull from a flexibility perspective.

The one thing I like about this is… And vision insurance is it’s a way to round out a bit of a package, right? I mean, it’s nothing that’s really going to differentiate you, but I will tell you, I think we do a good job of accommodating this benefit, providing a lot of value within what we do. And what I really like about is we back it up with how we handle the renewals.

So again, we talked about the dental insurance block and how we cap all renewals right now at 4.9%. It just gives a lot of peace in mind and in purchasing from Principal. Vision insurance right now… And this has been the case for the last probably seven years. Again, our target market of under 100 employees, our vision block renewal right now is zero. And it’s been zero for seven years. So no rate changes.

Now I can’t say that’s always be the case, that’s the ex-underwriter in me, but we’ve got a lot of stability in that block. A lot of stability in that pricing. So for clients under 100 employees enrolled, it’s been a rate hold for quite some time.

Jason Powers: Something we don’t do a lot here. I think we’re maybe a couple slides here, but I think we need to take advantage of supplemental products with Principal. I think a lot of our agents may have teamed up with a couple of different carriers in that space, the work site space, to deliver these products. But what I like about packaging that with Principal, the idea of packaging that a Principal is, I know that we’ve got the dedicated support. We’ve got all the things that we get that we’re accustomed to with Principal. So walk us through the products you’ve got in that space, that what you got critical illness and accident.

Greg Cain: Yeah. So critical illness, accidents. Soon to come is hospital and hospital indemnity, that’ll be first quarter next year. So one thing that you’ll learn about Principal is we’re not going to deliver product that A, either isn’t ready or B, might not be ready. And so we talk about fourth quarter, the volume, the business that flows through our company and your business company.

The concern of adding a new product in fourth quarter is not ideal. So we’re going to avoid that. But hospital indemnity is also coming. Again, these are great complimentary products. I mean, when you talk about critical, CI, accident, both serve a purpose. And I would say there’s a lot of solutions in the marketplace. I really like what we do from a product perspective. I think we’re easy to work with.

The CI product that just was enhanced, recently. We’ve added things actually COVID-19 is now covered, sepsis, meningitis. We’ve added a bunch of additional riders. And actually, so block is running at a level where we actually reduce pricing, added benefits, inclusive of the COVID-19 diagnosis and sepsis and meningitis. Now we’ll say those kind of conditions, it does require three days of hospitalization, but it’s covered. So just yeah, we’re talking about cancer, heart attack, stroke, major organ failure. Your typical critical illness can kind of benefit in structure.

We talk about accident coverage. What I really like about we do an accident is again, I go back to that member experience and making it easy and efficient for the member to utilize benefits. Our accident product is a lump sum benefit philosophy.

So what does lump sum benefit mean? Well, if we compare us to the traditional accident players over the last 30 years, it’s kind of a reimbursement type of approach where each expense has a reimbursement, whether it’s a x-ray or it’s rehab or it’s broken, it’s the broken leg or it’s an ambulance ride. Well, we aggregate all that stuff up to the diagnosis.

So what does that mean? Well, could a traditional plan pay more? Well maybe, but what I like about what we do is we’re going to aggregate up all the expected expenses for like a broken leg. We’re going to pay a lump sum benefit right away. So the member is going to receive all their money, maybe more than what a reimbursable plan would pay, maybe less, but the claim process takes a week. I mean, they have their money in about four days as opposed to a traditional plan they have to nickel and dime, but receipts for the next 18 months, they get all their money. So simplicity of claim payment, the simplicity of employees and members getting their money. I really like what we do an accident and it’s really structured well, and I think we were priced fairly well as well.

So I think the key thing here is, and we’ll wrap up here real quick. How do we support enrollment? Well can, depending on the case in the location, we can support enrollment. We also have access to online enrollment tools. We have our own Principal, Easy Elect right here, which is built for that online new business enrollment opportunity. And it allows us to kind of migrate that paper relationship to an online solution. We also have partners in the marketplace that can expand in the online enrollment process. So I really like what we do in that space as well.

Jason Powers: Yeah.

Greg Cain: Yeah.

Jason Powers: And that’s something that we haven’t really used on our side. We haven’t really used that Easy Elect, but I know that it does have a little bit of ramp up time for that. So it’s not one that I can tell you I’ve got a 10-1 case that wants Easy Elect.

Greg Cain: Actually. So you’re thinking even if it’s Edge, I didn’t touch on that.

Jason Powers: Oh no.

Greg Cain: Even if is a ramp up time, Easy Elect can be done in 24 hours.

Jason Powers: Okay.

Greg Cain: Literally can be done. I mean, they could probably be done in 15 minutes assuming Janine and my team in Kansas City that has the bandwidth, which usually she does if I bribe her enough. But I’m tell you Easy Elect, it literally can be built in 15 minutes. It is really clean and efficient.

Jason Powers: You’re right. I always, if it’s Edge it’s the so Easy Elect can be set up in 24 hours.

Greg Cain: Very quick. Yeah. Principal only where even if it’s Edge could be other carriers. Easy Elect is Principal only, it’s new business only, but actually it’s a great tool and we use it quite a bit in a very efficient manner, yeah.

Jason Powers: I know Andrea on our team appreciates hearing that, that can be set up in 24 hours. She may want more than 24 hours notice on the sold case submission, but. Any final thoughts for brokers as they head out in the Q4 busy, crazy, can’t find a-

Greg Cain: Yeah. Fourth quarter’s here. I mean, fourth quarter’s here volumes are getting up. I mean, we’ve had a great year this year. I think one thing about Principal, we are I’m going to say slow and steady. It’s kind of true. I think the expectation that we deliver is very consistent. I mean, we are slow and steady. You’re going to get a very consistent approach for you and your services and for you in what way you’re looking for you what way you’re looking for your [inaudible] needs. And we just appreciate the opportunity.

Jason Powers: Well, you’re a valuable partner to us here at Legacy. We appreciate your taking the time coming in and educating us on everything Principal.

So you heard it from Greg. If you’ve got medical quotes that you’ve already got in-hand, and we’ve accompanied that with a Principal quote, be sure to take a look at some of these products and present them to your clients here in Q4, which increases your stickiness and your ability to retain that client.

So we’ll see you next time. Have a great one.

Frequently Asked Questions

Who is Legacy Brokers?

We are a General Agency that focuses on group health and ancillary insurance products. We are the experts in small group self-funded and fully-insured products. Our clients are licensed insurance agents, just like you. It doesn’t matter if you focus on P&C, Financial Services, Medicare, Life and Annuities. If you have a health insurance license then we can help you win more business.

What services does Legacy Brokers provide?

  • We run your quotes
  • We help you analyze the quotes
  • We assist you with the sale
  • We help you service the case
  • We help you renew the case

Who owns the Client?

You Do! Whether we operate side-by-side or one step behind you, we never jump in front of you because it’s YOUR client. It’s our job to continuously earn your trust and service your business throughout the year. If you ever wish to move your business, you are free to do so with your clients in tact at any time – with no strings attached. Our goal is to be YOUR  trusted advisor along the way.

Does using Legacy Brokers cost me anything?

We have a GA contract with many of the carriers that we quote. For those carriers, we earn an override and you earn 100% of the producer commissions, so it will cost you nothing! With that said, other carriers may be a little different and the commission structure could vary from case-to-case. Whatever the circumstance might be, our number #1 goal is to help you maximize your profits for each case every year!

How do I get started?

That’s the easy part! We can start the process in a number of different ways.

  • Click on the blue “Speak to an expert” button at the top or bottom of this page, fill out the required information and an expert will get back with you in less than 24 hours.
  • Call or email us directly: 1-800-844-1901 or 913-631-0102 / sales@legacybrokerskc.com

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Check list for Group Health

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UnitedHealthcare

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