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2010 aflac presentation

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2010 aflac presentation

  1. 1. The Aflac Career Opportunity
  2. 2. Outlining Our Discussion <ul><li>Provide a Background on our company </li></ul><ul><ul><ul><li>Who we are </li></ul></ul></ul><ul><ul><ul><li>What we do </li></ul></ul></ul><ul><li>Introduce the value of our products </li></ul><ul><li>Review our total compensation plan </li></ul><ul><li>Highlight our formal training program </li></ul><ul><li>Assess whether or not there is a fit </li></ul>
  3. 3. Introducing Aflac
  4. 4. Introducing Aflac Trusted, Fortune 500 Company 50,000,000 Clients Protecting families for more than 55 years #1 Supplemental Insurance Provider <ul><li>Not a Major Medical provider </li></ul><ul><li>Doesn’t compete with employer provided benefits </li></ul>
  5. 5. Employer Provided Benefits 10 Years Ago 2200% Increase in medical insurance Aflac helps employers expand their benefits: <ul><li>No Cost to employer </li></ul><ul><li>Protects the employee </li></ul><ul><li>Provides employer value </li></ul>Today
  6. 6. Introducing Aflac So, How Does Aflac Work? <ul><li>We provide products that gives people an emergency fund of cash when they need it the most. </li></ul><ul><ul><ul><li>Most people live paycheck to paycheck </li></ul></ul></ul><ul><ul><ul><li>Bill collectors don’t care if you get hurt </li></ul></ul></ul><ul><ul><ul><li>Most employers don’t provide disability benefits </li></ul></ul></ul><ul><ul><li>We work with business owners who make our products available to their employees </li></ul></ul>
  7. 7. Introducing Aflac <ul><li>It’s Free! No cost to protect their employees </li></ul><ul><li>Expands the employer’s benefit offerings, making them more competitive in attracting and retaining employees </li></ul><ul><li>Reduces the employer costs that they incur from non-work related injury </li></ul><ul><li>We help employers avoid having to make personal loans to employees </li></ul><ul><li>Our products can reduce payroll taxes for an employer </li></ul><ul><li>So, if a business owner’s employees wanted to purchase our products, paying for it themselves, why wouldn’t a business owner want to work with Aflac? </li></ul>Why Do Businesses Work With Aflac?
  8. 8. Introducing Aflac Our challenge is not getting Employers to say “YES” . . . . . . our challenge is getting to them. Which is why we are seeking new Associates to introduce our products. While we insure over 50,000,000 individuals and now 500,000 businesses offer Aflac to their employees, in our state, less than 10% of the businesses have had an opportunity to make Aflac available to their employees.
  9. 9. The Value Of Our Products
  10. 10. Value Of Our Products Key features of our products: <ul><li>Pay cash directly to the policy holder </li></ul><ul><li>Affordable </li></ul><ul><li>Employee Owned </li></ul><ul><li>Portable </li></ul><ul><li>Guaranteed Renewable for Life </li></ul><ul><li>Wellness Benefits </li></ul>
  11. 11. <ul><li>Income </li></ul><ul><li>$41,000 Annual Salary </li></ul><ul><li>$3,417 Monthly Gross Salary </li></ul><ul><li>$854 Taxes </li></ul><ul><li>$125 Medical </li></ul><ul><li>$2,438 Net Monthly Salary </li></ul><ul><li>Household Expenses </li></ul><ul><li>$1,200 Rent / Mortgage </li></ul><ul><li>$275 Car Payment </li></ul><ul><li>$250 Monthly groceries </li></ul><ul><li>$375 All Utilities </li></ul><ul><li>$60 Cell Phone </li></ul><ul><li>$175 Gas/Insurance </li></ul>Getting Started - Products $78 left after bills are paid Broken Leg – Out 6 Weeks From Work
  12. 12. 4. $1,500 for sustaining a fracture 1. $225 for needing an ambulance 2. $135 for being treated in an emergency room 5. $2,150 for an initial hospital confinement 6. $500 per subsequent night stay in the hospital 3. $225 if a diagnostic exam is performed (CT, MRI, etc.) 8. $140 for needing the use of equipment (crutches) 7. $140 per night for lodging for a family member 9. $40 per day for physical therapy (up to 10 days) Broken Leg – Out 6 Weeks From Work paid directly to you and your family $5,275
  13. 13. <ul><li>Expenses </li></ul><ul><li>$1,200 Rent / Mortgage </li></ul><ul><li>$275 Car Payment </li></ul><ul><li>$250 Monthly groceries </li></ul><ul><li>$375 All Utilities </li></ul><ul><li>$60 Cell Phone </li></ul><ul><li>$175 Gas/Insurance </li></ul>Broken Leg – Out 6 Weeks From Work Getting Started - Products $5,275 Paid By Aflac $2,940 left after bills are paid $78 left after bills are paid
  14. 14. Value Of Our Products
  15. 15. Value Of Our Products Which Employees Take Our Cancer Products? People like Cathy Lam: “ When the doctor told me back in January that the biopsy did show cancer cells, I was devastated. I had held on to the last hope that everything was going to be okay. Now all I could think about was my three year old daughter and my husband. I wanted so much more time with them. God answered prayers and the surgery went well with good test results. Everything is so expensive! Thank goodness, when Aflac agents came to my workplace about two years ago, I listened to their plans of coverage and chose to buy some cancer insurance for myself and my family. How grateful I am now that I made that decision.” - Cathy Lamm, Aflac client
  16. 16. Your Responsibilities
  17. 17. Your Responsibilities What Is The Role Of The Associate? <ul><li>Your primary role is to consult with local business owners and educate them on how our products can benefit them and their employees </li></ul><ul><li>Service existing relationships that you create </li></ul><ul><li>Participate in training that is designed to assist you in achieving success </li></ul>
  18. 18. Your Responsibilities What Is The Role Of The Associate? Meet with business owners and present the Aflac value Explain our products to each employee Enroll those that are interested in obtaining our products Secure the business owners authorization to meet their employees Schedule meetings with each employee
  19. 19. Your Responsibilities What Is The Role Of The Associate? Meet with Friends and Family and present the Aflac value Ask for Referrals Thank them and contact referrals Explain our products and cash benefits Gain their trust and relationship Enroll those that are interested in obtaining our products
  20. 20. Your Responsibilities <ul><li>The Aflac Advantage </li></ul><ul><ul><ul><ul><li>We spend $50,000,000 in marketing and brand advertisements, for you </li></ul></ul></ul></ul><ul><ul><ul><ul><li>We have achieved brand recognition equal to McDonalds, Nike and Coke </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Chances are that every business owner or individual that you meet, will know the name Aflac </li></ul></ul></ul></ul>
  21. 21. Your Responsibilities How do you meet with business owners? <ul><li>Call them or walk in and visit them to introduce Aflac </li></ul><ul><li>Business owners don’t object to our concept, but they may object to salespeople. We teach you prospecting techniques to overcome this </li></ul><ul><li>Once you build your client list to 100 accounts, you will no longer need to meet with new businesses, but instead focus on helping more employees in your current accounts learn about our products. </li></ul><ul><li>How quickly you build your client list is up to you. </li></ul>
  22. 22. Compensation
  23. 23. <ul><li>Aflac provides a high income compensation plan </li></ul><ul><ul><ul><li>Associate commission </li></ul></ul></ul><ul><ul><ul><li>Associate renewal </li></ul></ul></ul><ul><ul><ul><li>Stock Bonus </li></ul></ul></ul><ul><ul><ul><li>ABC Club </li></ul></ul></ul><ul><ul><ul><li>A real retirement program </li></ul></ul></ul><ul><ul><ul><li>Cash / Incentives </li></ul></ul></ul><ul><ul><ul><li>Management Opportunities </li></ul></ul></ul>Compensation
  24. 24. Associate Commission Compensation Present to 15 Employees (EE) 60% Enroll @ $15.00 Per Week Payroll Deduction 9 Employees Enroll X Average Annual Premium of $780 $7,020 Total AP X 47% Commission $3,299 1 st Yr Commission X 63% Advanced The Next Week $2,078 First Commission Payment
  25. 25. Compensation Total Commission of $7,020 Payment 1 - $3,299 (Upfront Payment) Payment 2 - $338.27 (Difference / 11) Payment 3 - $ 338.27 (Difference / 11) Payment 4 - $ 338.27 (Difference / 11) Payment 5 - $ 338.27 (Difference / 11) Payment 6 - $ 338.27 (Difference / 11) Payment 7 - $ 338.27 (Difference / 11) Payment 8 - $ 338.27 (Difference / 11) Payment 9 - $ 338.27 (Difference / 11) Payment 10 - $ 338.27 (Difference / 11) Payment 11 - $ 338.27 (Difference / 11) Payment 12 - $ 338.27 (Difference / 11) Total of all payments: $7,020
  26. 26. Compensation Associate Renewal Commission Same 9 Employees $7,020Total AP $7,020 Total AP X 3% Renewal Commission $210 First Year Renewal Payment Renewals Paid to you level for the rest of your life.
  27. 27. Compensation Total Renewal of $210 Payment 1 - $17.55 (Renewal /12) Payment 2 - $17.55 (Renewal /12) Payment 3 - $17.55 (Renewal /12) Payment 4 - $17.55 (Renewal /12) Payment 5 - $17.55 (Renewal /12) Payment 6 - $17.55 (Renewal /12) Payment 7 - $17.55 (Renewal /12) Payment 8 - $17.55 (Renewal /12) Payment 9 - $17.55 (Renewal /12) Payment 10 - $17.55 (Renewal /12) Payment 11 - $17.55 (Renewal /12) Payment 12 - $ 17.55 (Renewal /12) Total of all payments: $210
  28. 28. Associate Stock Bonus Compensation Same 9 Employees $7,020 Total AP $7,020 Total AP X 2% Stock Bonus $140.40 Stock Bonus $140.40 Stock Bonus / (divided) by Current Stock Price ($40) 3.5 Shares of Stock
  29. 29. <ul><li>Quick review of compensation from 1 small account / client: </li></ul>Compensation $7,020 1 st Year Earnings $210.00 Annual Renewal $140.40 Stock Bonus All this from just one account
  30. 30. Compensation One Year Income $7,020 Production Per Account X Open 1 Account Every Other Week (26) $182,520 Total Production X 47% Commission $85,784 Total Commission X 63% Advanced = $54,044
  31. 31. Compensation Comparing An Aflac Career to a Salaried Job $40,950 Salary Aflac Career Salary Job $40,950 Commission 1 st Year Compensation: Guaranteed Increase (2 nd Year): $7,020 Renewal $0 - No Guarantee Maximum Income Potential: Unlimited 1% – 3% increase* Stock Bonus: Yes Unknown
  32. 32. Compensation Building Your Future – A Real Retirement Program $182,520 Production Per Year X 10 Years $1,825,200 Total Production X 80% In Force $1,460,160 In Force X 3% Renewal Commission $43,804 Renewal Commission – Year 11 + $85,784 Year 11 Production Commission $129,588 Total Revenue – Year 11
  33. 33. Compensation Building Your Future – A Real Retirement Program Once you become vested, if something were to happen to you, your renewals would then be paid to your spouse. For as long as they live. If your spouse is no longer living, your renewals will be paid to your children, until they reach age 23.
  34. 34. In addition - Associate Cash / Incentives Compensation <ul><li>Even as a new Associate, you will be eligible for cash bonuses and a variety of incentives, contests and promotions </li></ul><ul><ul><ul><li>District rewards </li></ul></ul></ul><ul><ul><ul><li>Regional incentives </li></ul></ul></ul><ul><ul><ul><li>State recognition and awards </li></ul></ul></ul><ul><ul><ul><li>Corporate level rewards </li></ul></ul></ul>
  35. 35. Compensation The Value of Advancement For those Associates that perform well and are interested in a management position, we will be looking to promote you. We will help you build and train your own District Team <ul><li>In management, you will receive: </li></ul><ul><ul><ul><li>Commission on your team’s production </li></ul></ul></ul><ul><ul><ul><li>Renewals on your team’s production </li></ul></ul></ul><ul><ul><ul><li>Stock based upon your team’s production </li></ul></ul></ul>
  36. 36. Training and Support
  37. 37. <ul><li>Aflac has created an organization designed to support the Associate: </li></ul>Training and Support State Sales Coordinator Regional Sales Coordinator District Sales Coordinator State Training Coordinator Associate
  38. 38. <ul><li>Your Regional Sales Coordinator will </li></ul><ul><ul><ul><ul><li>Provide you with Support training </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Provide management oversight to ensure your training is completed </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Work closely with your District manager to ensure your success </li></ul></ul></ul></ul>Training and Support Regional Sales Coordinator
  39. 39. <ul><li>You will receive dedicated one-on-one training with a District Sales Coordinator who is measured based upon your success. </li></ul><ul><ul><ul><ul><li>Training on marketing and products </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Acquiring clients </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Servicing clients </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Your District Manager will work hand in hand with you to build your business </li></ul></ul></ul></ul>Training and Support District Sales Coordinator
  40. 40. Training and Support Week 1: Product Pre-School Training with the RSC/DSC Week 2: Jump Start School (NASS) Week 3-4: Field Training Begins to set Appointments Week 7-8: Associate Interview & employee Presentation Week 5-6: Employer Presentations Week 9: Flex/SNG Training Week 10-13: Basic Enrollment & Account Mgmt New Associate Training Cycle – “Winner’s Edge”
  41. 41. <ul><li>Here is what you should expect: </li></ul><ul><ul><ul><ul><li>You will receive thorough classroom training </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You will receive detailed product training with your Regional/District Sales Coordinator </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You will receive daily training, one-on-one with your District Sales Coordinator </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You will see the entire lifecycle of account management, at least twice during your training </li></ul></ul></ul></ul>Training and Support Review
  42. 42. <ul><li>Here is what you should expect (continued): </li></ul><ul><ul><ul><ul><li>You should earn income in your first thirty days after class/contract </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You should open at least two groups with your District Sales Coordinator </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You should qualify for our Fast Start incentive program “Bonus” </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You should build your pipeline of employers </li></ul></ul></ul></ul>Training and Support Review
  43. 43. <ul><li>Why should you expect all of this support and training? </li></ul>Training and Support Review <ul><li>Because each level of your support organization is measured, judged and compensated based upon how well you do. </li></ul>State Sales Coordinator Regional Sales Coordinator District Sales Coordinator State Training Coordinator Associate
  44. 44. <ul><li>In addition, you should also be aware of the following advantages you will have: </li></ul><ul><ul><ul><ul><li>Aflac will provide you with all of the marketing materials you need – free of charge </li></ul></ul></ul></ul><ul><ul><ul><ul><li>We generally do not work evenings or weekends, as we meet with business owners during the weekday (Work hours) </li></ul></ul></ul></ul><ul><ul><ul><ul><li>You will have the flexibility to work from your own location, including your home office </li></ul></ul></ul></ul>Training and Support Review
  45. 45. Assessing The Fit
  46. 46. <ul><li>We are looking for: </li></ul><ul><ul><ul><li>Someone who is not afraid to work hard for what they want…dedicated </li></ul></ul></ul><ul><ul><ul><li>Someone who is willing to be trained/coached </li></ul></ul></ul><ul><ul><ul><li>Someone that can manage themselves and their time…discipline </li></ul></ul></ul><ul><ul><ul><li>Someone who is willing to interact with people </li></ul></ul></ul><ul><ul><ul><li>Someone who can understand and believe the real value that our products provide to families </li></ul></ul></ul>Assessing A Fit
  47. 47. Next Steps
  48. 48. Contact the Person that Sent this Opportunity to YOU! Contact Your Aflac South Florida Coordinator for a personal interview Steven W. Kaiser 954-531-6429 [email_address]
  49. 49. Thank you…. Looking forward in hearing from you!