Doing Annuity Seminars Today with Covid

[Allen Trent]

I wouldnt be too sure about that. As Chazm pointed out, they are working for Medicare, which is the same age demographic as annuities.

Also, seniors are not as adverse to technology as they were just 4 or 5 years ago. Many are going online to find their insurance and annuities. Many are using video conferencing for other formerly "in-person" activities such as book-clubs. (my 67yo mother is in a retiree book-club and they meet over zoom ... I had a 72yo client cut a call short the other day because it was time for their gardening-club to do their weekly zoom meeting)

Id say people in their 60s are open to virtual seminars. 70s, farily open. 80+ not so much... but annuity producers usually dont target 80+ anyway because it cuts comp.

Fair enough and alot if seniors have been improving their tech use of Facetime & Zoom when communicating with family & attending church services online

 

[Allen Trent]

So don't tell me that seniors are technologically adverse when a company who wants to manage their significant savings is willing to deliver their contracts electronically!

Fair enough & true. My mother was great with technology & utilized it with everything but my dad can't handle any. So, maybe I am applying too much recent experience with my father & my mother in law & over generalizing

 

[scagnt83]

Just to share for other annuity developments: Athene is now offering electronic delivery of their annuity contracts!

***

e‑Delivery has launched at Athene!

Athene has launched an e‑Delivery option via Athene Connect that will allow issued contracts to be delivered electronically. The way applications are processed will not change, but for you and your clients, e‑Delivery can make a real difference.

• Easy enrollment
  • Clients will elect e‑Delivery by completing the Electronic Signature Consent and Disclosure form and providing an email address on the application.
• Expedited, secure delivery of client contracts
  • Annuity contracts will be delivered one business day after the contract is issued. Both you and your client will receive an email when the contract has been electronically delivered.
    • If annuity contracts are typically mailed to you or your back office for delivery to your clients, they will be electronically delivered to you for review and approval before they are electronically delivered to the owner. Once you have approved, your client will receive an email stating that their contract has been delivered.
    • If annuity contracts are typically mailed directly to your clients, they will be electronically delivered to the owner. You will not be required to review or approve the contract but will have access to the contract on the e‑Delivery portal.
    • To access their contract, clients must first validate their identity by providing their date of birth and last four digits of their Social Security number, or by entering the passcode provided in a separate email. For contracts owned by an entity (trusts, corporations, etc.), it is recommended the passcode option is used; otherwise, the annuitant's date of birth and the last four digits of the entity's tax identification or Social Security number must be provided.
  • Once the contract is issued, the e‑Delivery link remains active for up to 60 days. If the link is not accessed within that time, a paper contract will be mailed directly to the client. Contracts are accessible through the e‑Delivery link for 10 days after they are initially opened or when signatures are provided (where applicable).
  • We recommend your client save a copy of the annuity contract on his or her device (e.g., laptop or home computer) for future reference. Your client can also access a copy of his or her contract on My Athene.
• Simplified process for completing and returning the contract delivery receipt and other delivery requirements:
  • Producers can track the status of outstanding contracts on the e‑Delivery Dashboard on Athene Connect.
  • The contract delivery receipt and applicable delivery requirements (depending on your state) can be completed and returned electronically by you and your client.
• Environmentally friendly — Reduce costs and waste associated with printed contracts.
• COVID safety — Provide convenient, remote service for clients taking extra precautions during the global pandemic.

With the flexibility, speed and convenience offered by e‑Delivery, we know it will become a valuable tool for you and your clients. Thank you for partnering with Athene!

P.S. Review these frequently asked questions for more information about e‑Delivery or reach out to our Customer Contact Center at 888‑266‑8489 or by emailing [email protected].

Yeah, thats really nice to see. Their electronic app is a real easy process, but then you have to mail the app to the client and delivery paperwork is, or was, on paper.

Penn has an electronic delivery for their e-app system on the life side. Not sure if their annuities have that as well.

 

[scagnt83]

Fair enough & true. My mother was great with technology & utilized it with everything but my dad can't handle any. So, maybe I am applying too much recent experience with my father & my mother in law & over generalizing

At first, my father was very adverse to the whole online video conference idea for his business meetings. But after doing a few, he warmed up to the idea very quickly and plans to utilize it in the future either way. Im not surprised since it saves him 6 hours of driving time... lol. Realizations about the benefits of the new business world are starting to sink on more and more.

 

[DHK]

Yeah, thats really nice to see. Their electronic app is a real easy process, but then you have to mail the app to the client and delivery paperwork is, or was, on paper.

Penn has an electronic delivery for their e-app system on the life side. Not sure if their annuities have that as well.

With my first few e-apps, I did use it to print on paper. You can use it to send to the client for e-signatures. I'll do that with my next appropriate case, so I can save the paper.

I was considering a move where I would be completely virtual, but maintain a business address in California - to then mail me the policies and I would prepare them for client delivery. I'd be in another country and the costs back and forth would be very high ($100+ each way). With electronic policy delivery, that issue is eliminated!

(Well, at least with that company. But for the strategy I prefer between a 10-year annuity and a 10-pay life... it's great and I can cut down my overall costs! Now if I could get Ohio National to consider the same thing... )

 

[Allen Trent]

At first, my father was very adverse to the whole online video conference idea for his business meetings. But after doing a few, he warmed up to the idea very quickly and plans to utilize it in the future either way. Im not surprised since it saves him 6 hours of driving time... lol. Realizations about the benefits of the new business world are starting to sink on more and more.

I also think many seniors preferred the face to face for the social aspect. After retirement & kids having their own families & work, some of these meetings & seminars & even ife insurance exam calls were valued for some social interaction. Hopefully more will continue to adapt to online as it may allow more frequent interaction

 

[Tahoe Ray]

I'd be in another country and the costs back and forth would be very high ($100+ each way). With electronic policy delivery, that issue is eliminated!

Make sure you're using a VPN with a US IP address if you're doing that.

Some carriers actually track the location of their eApp/policy electronic signatures.

 

[DHK]

Ah. That's a good point and I do remember seeing that as part of the Athene e-app training that the IP addresses are tracked. Even though I'll be in compliance with the regulators, I don't want any 'red flags' with the carrier either.

 

[nonie]

Because no one has chimed in...it's not exactly what you asked but I tried doing seminars again but mine are educational Medicare webinars.

I held 4 seminars and I had a total of 10 show. I used to get double that at least. Since my webinars now get 10-25 for each one, I'll stick to them as long as I can.

How are you advertising your webinar's?

 

[DHK]

Make sure you're using a VPN with a US IP address if you're doing that.

Some carriers actually track the location of their eApp/policy electronic signatures.

Btw, it also does depend on the signature option 'mode'.

If you indicate that the client is right there in front of you... and they aren't... they'll pick up on that.

I *believe* that, as long as I'm compliant in how the signature is gathered, it shouldn't matter, as long as I'm properly licensed and appointed for whatever state I'm selling.