0344 | David Duford

Hey there. This is David Duford@DavidDuford.com and you're listening.

To EA interviews, EA interviews, episode 344.

Inspiration, transformation, success stories and the imperfect action round. Seven days a week. Join Mario Ficini for today's Expert Authority Effect interview.

It's a part of your life, but do you have the right type of insurance?

Do you know what to pick?

Do you know what you should be.

Choosing for the options?

How often should you revisit the policy? These are all important things, both personally and professionally.

And that's why I have David Duford on the show today. And we're going to be talking about insurance.

You're not going to miss it, you're not going to want to miss it. And we're going to bring them up.

Right after we thank our sponsor. Every business needs a book, including yours. And that's why I'm launching my new book to help you regardless of where you think you, your current writing abilities are. Visit eapublishingmethodbook.com today to learn the seven steps to publish and promote your nonfiction lead and profit generating business book in eight weeks. Once again, that's eapublishingmethodbook.com.

Here he is.

Ladies and gentlemen, David Duford. David, how are you feeling today?

Fantastic.

Thanks for having me, Mario.

Oh, it's my pleasure. I want to ask you some questions about insurance, like why do most people have not the adequate policies?

Well, it's a number of reasons, I think. First of all, nobody wants to talk to an insurance agent. Number two, everybody's busy living and doesn't want to think about dying, at least when it comes to life insurance. And it's just one of those products that, you know, a lot of people don't really think about until it's too late or something happens. You have to be somewhat proactive about it. So kind of leads to why people sometimes have not enough coverage or inferior coverage.

How do you handle, I'm sure, I'm sure you've only dealt with it once or twice, but how do you handle someone who really isn't interested in it? I mean, maybe they sought you out, but then they get cold feet or maybe you approach them. But how do you get past that initial barrier of. Most people just find it's not. Most people find it's just not a fun subject even though they should have it.

Well, I think you, you know, there's a saying in our business, you have to ask disturbing questions. There's really no way around the uncomfortableness of dying.

Right.

So it's just a function of the business. But, you know, if you have some sense of comedic flair, then you can have a little fun with the subject and that helps people get at ease. So there's really no way to get around the difficulty of it. Just a might as well just attack it. Headstrong. And people really do appreciate kind of an honest assessment and discussion anyway because they very rarely ever have it.

What. What are you referring to as far.

As the comedic timing or comedic.

Yeah, I deal with mostly older Americans and, you know, think senior, 60 and older. So I'll talk about things like, you know, that a lot of people don't want to be cremated, you know, and they don't want to be burned twice, you know, ha, ha ha, funny stuff or, you know, or talk about the money tree out back and, you know, just. Just kind of stuff that's more relevant to that audience. And I just try to make it as light and as. As. As you can. And that just kind of gives a little bit of a comfort level to it and gets them comfortable to talk to you and. And have an honest discussion. So you gotta kind of get in the sense of it to kind of sense when it's appropriate. It's not always appropriate to. But sometimes with certain people it is, and it makes it that much easier to discuss.

I'm very comedic myself and I'm just going to bite my tongue because I was going to make a joke, but.

Maybe later it's a good one.

So do you. Do you only target people 55, 60, 65 older? Or do you ever talk to their kids or grandkids? And who's your ideal target market that you're.

Yeah. So these insurance. If you think of just insurance, it's a vast business. There's commercial property and casualty, health insurance, life insurance. And what I've niched down to in my business is senior citizens that are 50 and older. We'll sell people policies that need them that are under 50, but those that are 50 or older, really our target market. And we're talking to people who are. Don't have necessarily the means to take care of their, what we call final expenses, which consist of burial, cremation, or funeral costs. And we help them with a policy that will cover it. We also help with things like what's called Medicare supplemental coverage or Medicare Advantage coverage. So that's really who we're working at. I think in any business model, you got to have your target market right. You know, that you can speak to in a language that they understand. And so that's why we target that group. It's a great market, lots of people to help.

Excellent.

Now, what do you generally advise as far as the final expenses and stuff like that? Because I've heard two schools of thought where one is just get something big enough to cover, you know, the cost of the funeral, this, that, the other thing, and others say go with this big policy because you also have to account for any significant others, loved ones, family, anything you're leaving this and that. I mean, and I know it plays a difference in the policy whether you're paying a low amount per month or a high amount, but I see the benefit of both. I mean, what's your take on it?

Well, I look at life insurance as tools and I say that because there is different sex or ways of thinking, if you will, that term insurance is a terrible idea. Or what we call whole life insurance is terrible. And it's almost like a religious cult type feel, whereas it's just a product, I think, at least. And what my job is as a professional is to listen to what the client wants to accomplish, show them the differences, and best match what they're telling me is important with something that accomplishes that goal while also being A, the.

Client can be able to qualify for.

It medically and then B, they can also afford it. So it just depends. A lot of what we are going to help people with are plans that are just small enough to cover final expenses, meaning burial, cremation costs and maybe 10 to $20,000 policies, because that's all the client can afford. But then sometimes on occasion, you'll write the larger plans or maybe somebody wants to replace an income if they pass away to keep their surviving spouse better off financially or perhaps pay off a mortgage. Right. So they don't get evicted or foreclosed on. So it just, it depends what you see. And then you just make the recommendation based off of the facts.

And I'm sure it also depends on the age. If someone's 52 and plans on living another 20, 30, 40, 50 years versus 75, 80, and hopefully they're planning on at least another 10 or 20 years. But like you said, with the mortgage and other factors, you know, do you have a survivor that needs to be taken care of or do you have something else set up for that?

Yeah, exactly. We just depends on the circumstances. And you know, I don't have a particular loyalty to a type or style or product. I'm not a product pusher, I'm an advisor. I'd like to Think of myself as. And I simply just want to listen to what the problems are that the client has that insurance can solve and make the proper recommendation.

Okay.

Now would you say that has helped you with your books and your successful YouTube channel with tens of thousands of people on it because you're taking this client centric approach versus just pushing. Here's the only product because I've heard people you mentioned term and whole and I've. I know people that oh, term is horrible, holds the only way to go and other people, it's vice versa.

Yeah.

So when it comes to my, my influencing the, the thing that. I guess the reason I'm somewhat successful I suppose is because I talk in a plain spoken manner. The business of insurance, especially on the recruiting side, is very hype ish. There's kind of this MLM culture, if.

You will, of money and cars and.

Boats and all that stuff. And it's a big turn off to a lot of people, understandably. So I took the process of like I sell insurance on a plain spoken, straightforward basis. Here's how the business of selling insurance works. Here's what is great about it, here's what's not so great about it. Here's the things that you need to know to be successful without pulling any punches.

And that process of doing that for.

Now since 2014 has helped me build this funny little niche I'm in in insurance sales as being a well known influencer because I don't.

Pull the wool over people's eyes or tell them what they necessarily want them to hear. I tell them what they need to hear. And we're at a. I think people really want the truth. They want somebody to shoot them straight. And I think a successful execution of that has really benefited our business just by telling people what they need to hear.

Now when you're talking to people, let's pretend for a second that someone doesn't have insurance. They have no idea. What would you say are the.

Top three things they should really consider anytime they're even considering it? Getting a policy, what should they consider? I've heard you say the cremation, the burial and final expenses. At the very minimum, it sounds like they should have that. But what if they want more of an investment option? They want to replace their mortgage, Something to that effect?

Yeah, it's just again, it just depends.

I mean the main thing I want.

The first thing I want to know is what does the client want to accomplish with their life insurance plan? What is it that stoked them to reply back? The information that we sent them. So they are, they requested a lead, right? They became a lead and we sat down with them or talked on the phone. I want to know what's motivating them, right. I want to hear in their own words what matters to them. And then I'll ask them some questions about what do they want to accomplish. For example, for seniors, do you want to be buried or cremated? Why is that important to you?

If they don't have coverage, I'll ask.

Them, God forbid, if you die tomorrow, what happens? Who's going to pay for this? Do you think your kids should pay for this? Is that the right thing to do? So we'll ask them a series of open ended questions to get them feeling uncomfortable. And we don't do it from a manipulative standpoint. It's to show the situation for what it is, is to reveal the pain of if you don't solve this problem, let's look at all the problems that will come from it. Whereas you could easily solve this. So it just depends on the situation. We're going to ask about what they.

Have, what they want to accomplish, what.

Matters to them, and then custom tailor a program based off of what their desires and needs are.

As far as the burial or cremation, does that make a difference with the insurance policy or is the policy more just a dollar amount and it's really more personal? Depending on the client.

Yeah.

So you know, right now in the funeral business, the funeral costs have experienced dramatic inflation. I think the average inflation or the CPI index, the consumer price index, the funeral portion of that is like, I want to say it's 150% higher, significantly higher, the rate of which funeral prices have increased. And so what happens is that a funeral, if we think of a burial, there's more items to it, right? You've got the plot, you've got the opening and closing the casket, all of that, that's gonna cost more. And that's in a sense, one reason why a lot of Americans now are opting for cremation. Because it's simply you opt for, you know, throwing them into a furnace and clicking the button.

Right?

There's a little joke there, but it's a little less complicated, therefore it's a little less expensive. And so we need to know that from an agent standpoint, because choosing which way to go is going to dramatically affect the ultimate price, therefore the amount of coverage they need. Do you need a $25,000 plan if your only goal is a direct cremation where there's no services, no funeral, and it's literally someone who's just cremated and then remains put into an urn. No, not necessarily. So that's part of the component we're trying to discover is what do they want? Because our recommendation will reflect the dollar amount, which there is definitely a difference.

I gotcha. Is there anything more other than the cremation or the burial? What's the most expensive you would say you really need. So you went from 10 to 20, now 25. Does anyone ever need 30, 40 or 50 in coverage just for that portion of it? I get that, the mortgage and that could be millions, it could be whatever. But if that's all they're focusing on, what's like the top end. Have you ever seen anything upwards of 30, 40 or 50?

Oh, yeah, sure, absolutely. You'll get that from time to time. Now if we're strictly thinking of a senior and we're helping them with final expenses, somebody who's 50 would, which not quite a senior, but people start thinking about dying and being prepared at that age, they're more likely going to need 30,000 because the lifespan of the average 50 year old probably will last past 80 at this point. So there's a third of a century for inflation that rear its ugly head and cause prices to go higher. So buying more in lieu of understanding that inflation will push prices higher is a good idea. So yeah, we'll see larger face amounts, we call them face amounts. The amount of coverage decline has, the younger they are to fix for the fact that we expect inflation to continue going up like it always has. But somebody who's a bit older, maybe 85, do they need 30,000 if they.

Just want to be buried? Nah.

Depending on where they're in a country, what the prices are like 7 to 10, maybe 12,000 is also sufficient as well.

So I'm sure you have all these prices like you said, depending on where they're in the country, what they're doing, I mean, safe to say 10 to 15, you're pretty much covering a good.

Amount of it, I think so in today's dollars. Again, the other factor to that is what is the price going to be in tomorrow's dollars? And if somebody wants, especially if somebody wants to be buried today, 10 to 15,000 will do it. But what if they live another 20 or 30 years, you know, 15,000 a day, how much was that worth actually in the 80s? You know the dollar amount in the.

80S, you could buy property for that in the 80s.

Yeah, right. Remember back in the day? Yeah. So Same. But the thing that we try to help our clients understand is they all understand inflation. They're many times 50, 60 plus years old. You don't have to tell them when, you know, a gallon of milk was a dime.

They understand it. Yeah.

But what they don't quite see is it will just continue to go that way.

Right.

So inflation always is there. It's very rarely not. So once you make that connection, they see the need to buy more than just for today's concerns, because the likelihood is our client, we don't know when.

They'Re going to pass away, but it's.

Likely going to be in the future. So we need to be prepared for not just today, but for the future as well.

And that makes total sense. I'm glad you're. You are so straightforward with that and bringing it up. And I know it's going to vary in, I'm just going to ask it. But for a 10 or 15 or 20 grand policy, does it really fluctuate the monthly pricing that much? I mean, it can.

It depends on the age of the client. You know, if somebody's 80, there's going to be a big difference between 10 and $20,000 in coverage. The younger they are, there's less of it.

But if you're going from 10 to 20, it's not going to be anywhere near a jump, regardless of age, from 50 to 100 or 100 to a quarter mil or.

Sure, yeah, if everything else is held equal, if it's the same company, it's the same underwriting, same risk class or several other variables there. But yeah, it's not that big of a jump. But yeah, going from 10 to 100,000 is huge, but 10 to 20, not so much.

Okay, yeah. The reason I want to bring it up, I always hesitate to even bring up pricing because this thing will be around for the next 10 years. And, you know, it fluctuates. There's so many variables this and that. However, I did want to make the point for everyone listening, that from 10 to 15 to 20, you could really shoot yourself in the foot as far as, you know, you might get 10 grand covered, but now the family owes 15 when it could have been. I don't even want to say the dollar amount, but let's just say a minuscule amount in comparison. Now, yeah, if you're comparing a half a mil policy to a mill plus or something, or even 100,000. But that's why I was bringing up like, have you ever seen it? 30, 40, 50,000 just for, you know, End of life burials and stuff of that nature. Because obviously the house is going to play a bigger factor. Any survivor, surviving benefits, leaving anything else to generations.

Let's talk about that.

How do you leave some generational wealth if there's no other investments and stuff like that? How do you factor if someone, okay, so we got let's say 10 to 50 for final burial. Throw in average house and you want to leave something as well.

So what tool best solves for that problem?

It just depends on the age and the client's health and what they're ultimately trying to accomplish. But one way you can get more coverage in place for a lower dollar amount is use what's called a term life insurance policy. And essentially a term life insurance policy is a life insurance policy that has an end date. In other words, if the client outlives the policy, the policy cancels.

Okay.

Or it goes through the roof price wise and most people drop it. But the concept of a term insurance plan, it's not necessarily the best for a guaranteed payout because you might outlive it. Most term insurance plans never pay out. It's kind of a, a bulwark against an unexpected death earlier than expected. So we see that more use for income replacement.

Paying off substantial debts like a mortgage. Right. So the family isn't affected. I don't really do much in the way of generational wealth. I mean, first personally, there are agents that will use whole life or index universal life plans to where they're tied to an interest rate that they pay out or a stock market index. And that's kind of sold in that.

Kind of strategy in mind. But that's a little bit out of my purview. I really don't deal with that.

So do you do more term than whole?

No. Again, dealing with seniors and dealing with people who are concerned about dying.

Right.

What their main concern is they don't want to be a burden to their loved ones. They want to know that whatever insurance policy they get will pay out no.

Matter when they pass away.

So by default, what we need is. And death is guaranteed. Nobody's been able to overcome death ever. So we need a policy that's also guaranteed to be paid out whenever death occurs. We know death's going to occur, but we don't know when the funeral is going to be.

Right.

So with that in mind, the logic here is that we recommend whole life insurance for clients who want funeral coverage protection because they don't know when they're going to die, but they know they are. The problem with Recommending term insurance for that type of situation is what if.

They have that term?

Yeah. And there's nothing worse than a senior whose health is declining, who probably can't qualify for much of anything, is now older and has to pay for more for a policy. Lucky if they can even qualify for it because now their terms run out. So we try to avoid recommending if it's for that, that need a term insurance policy because it really doesn't make sense. If you follow the logic here.

It's, it's a, I don't want to.

Say it's a gamble, but it's, there's.

A risk you could outlive it and.

You might not have.

And that's the goal. I mean, you're not going to get any benefit from the policy, Right. Oh, darn, I outlived it like, well, that I would hope so. But at the same token, so you're dealing more with the whole side, which sounds like it's good and you're helping a lot of people. You're just saying you don't get so much into the investment side and the stocks and the indexes as part of that package.

It's a strategy that agents can deploy. But our market is typically fixed income seniors retired or disabled. They're not making a lot of money in retirement. They're living paycheck to paycheck. They have very little in savings, if any at all. And there's a lot of that market out there that really benefits from this particular product. And we tend to stay busy enough that we don't have to worry about getting into the other styles of products. Because from a business standpoint, it's a different sale, it's a different way to present the product as opposed to what I teach my agents is to focus on one strategy. Because when you become the expert, you can help people better understand more products, underwriting, get better products and force for your clients so they have better coverage.

Yeah, and that makes total sense because at the same token, if you're saying to someone who's 35, 40 or 45, who probably isn't even thinking about it, not saying they shouldn't, but you're going, oh, now you have either this higher price monthly that you may never see the end of light on, or is at least 50 years in the future, 50 to 60 years in the future, and you know, it just, it's a hard, harder sell. However, I have had people present it in a way where it's like, well, It'll be worth 1, 2, 3 million dollars down the road, which all well and good, but it's still 50, 60 years down the road. And it does no good for you necessarily.

I have heard of one person who was like, well, you can borrow on it ahead of time, as long as you wait 10 or 15 years or something like that. I was like, I guess that's good 20 years from now. But it was a pretty high ticket at the moment, you know what I mean? As far as the investment in the argument is, well, what if I just invest it outside of all this right now?

You know what I mean? It's like you don't need the policy just to do the investment side of it, right?

And there's different, like, thoughts on the whole investment side. It's not really an investment, it's insurance. But the idea of using an insurance vehicle for gains, ultimately it's gonna come down to your risk tolerances as somebody who's investing your money, right? You're probably gonna have a higher upside for gain investing in a mutual fund, right, in the stock market and over time. But you also carry the risk of down markets. Whereas with insurance products, it's very likely insurance.

Say that again.

It's strictly insurance.

Yeah, it's insurance. So in other words, you will get, in most cases, some kind of return on your premium, but you also, for a lower return potential, mitigate the risk for loss potentially. So again, if you think from somebody with a risk profile, somebody who doesn't like the idea of putting their market, their money in the market, might find an insurance product to be better off, and that's okay. I mean, personally for me, as an agent, I don't do that. I invest my money in the market. I have a strategy. I don't use insurance. I only use insurance as an income replacement. So if I kick the bucket earlier than expected, my wife and family are well taken care of. And so I use term insurance personally. So it's going to depend on the person. That's kind of what's cool about insurance is there's no, like, right answer that fits everybody. A good agent, if you're looking for a good agent, they'll understand that each tool has its place. And a good agent will listen to the client and like an advisor would and make a recommendation based off of what they're hearing from the client is what's important to them to best suit what their.

Their goals are.

Excellent. Well, I'm glad you're bringing that up because everyone needs it and a lot of people don't want to talk about it like we talked about. And yeah, there's a lot of people and I don't want to pigeonhole this industry because it's every industry I've, you know, I real estate this, that. But there are people in every industry that just want to sell the product versus like you're saying, listen to what they need. There's someone, I'm thinking of that I told them what I was looking for years ago when I got it. And he came back with a proposal 10 times what I told him, oh, let me tell you why this is good. You'll have that money invest later for your business. And I was like, it's a lot of money per month that I can just use now.

And then other people approach me in this and that and then other. You know what I mean? It's like, I believe in it, you should have it. But just freaking listen, give me a thousand dollars, give me a thousand dollar proposal.

Like really, I'll be the devil's advocate here. I mean, you miss 100% of the shots you don't take. Right now there's nothing wrong shooting for the stars, but if you end up hitting the moon, hey, at least you came somewhere close, right? So I think it's good to meet the need. But a lot of the times part of the problem is as, as a salesperson insurance is our clients don't understand the full.

Picture, the full scope of the situation they're in when they don't have life insurance or they don't understand the benefits one could have with some of these other types of policies that are out there. So a good agent has to be persuasive, they have to be educators, they have to show ideas. They at least have to try to. Some people will take it, some people won't. The key difference though is to not be a product pusher. Like for example, if your agent that came in and pushed this 10 times what you thought plan and that's all he wanted from you, he's doing you a disservice. Because my take on it would be and I would teach my agents this is, is our goal at the end of the day in sales is activity. We want to help people with coverage where there's a policy where there wasn't prior, that is an improvement. Maybe it's not the big policy we would want, but at least the client got something they can easily afford or met their goals. So for me, you want to try to help as much with as much insurance as you can. You want to make the offer, but don't Go all in on that without any other alternatives, because there was no.

Second or third option. I know you said this, but here's some others that. And let me explain why it was.

Terrible, terrible. And they knew me. And I'll leave it at that, because I don't want to pinpoint it too much, but it wasn't someone that just met like, that day or that week. It was whatever.

Yeah.

And that was a while ago. I remember they came into my office and I was excited to see him because I hadn't seen them since high school.

Yeah.

But, yeah, I'm appreciative of and everything, but at the same time, I've always just listened to my clients, and it's like if you listen, you can always hear something more that they might not be saying. So I really do appreciate when you say, hey, you know, if you're 55, 60, here's this. If you're here, there's this. It's just. I can tell you generally just want to help the people.

And if that's what your main goal is, you're going to do just fine in this business. And people will naturally gravitate towards that, that more selfless person, because everybody has a prejudice against what they think. A salesperson is going to be like, pushy product pushers, aggressive. Take snow for an answer. And if you think through how your delivery is going to be. And again, like you said, listen to the prospect, the client, what they want, what's important to them. They can't wait to buy from you because you're the exception to the rule in their mind of what a salesperson is. If there's agents listening to this, that's like the best advice you'll ever hear.

Is just listen to your clients, help.

Them with what they want, make them a client, get them covered and do that, and you'll do very well in this business no matter what you're selling.

Yeah. It's interesting you say that because on a recent episode with Christine McKay, I invite everyone to listen to it.

She was given the example with a.

Car dealer for her mom. Her mom drives around 200,000 miles a year. She buys new cars every 18 months for the last 30 years.

And she goes three hours out of her way to go back to the same dealership and agent she got it from in the first place.

Yeah.

I mean, people are funny like that. You find somebody who does a good job for you, especially if you've been in business for a while.

Yeah. And then you refer them out to people. I've Never deliberately or I've never. You know, I realize I have a platform and I'm thankful I've never said, oh, screw so and so in this company, this, that I just. You know what? I. Whatever, you know, I'm not gonna put anyone down, but I'm sure as heck not gonna promote them. However, the people I like that are nice.

Might wanna think about that extra question or just actually doing what's right. But I'll leave it at that. I got one question for you before we come back for the imperfect action round. And. Well, actually, I got two. One. Yellow or black?

Black.

Oh, nice.

Oh, that was a good spin. That was a good one.

Keep going and going.

Sometimes they don't take. I actually slowed it down so there's black.

I have a fancy break on the back of it there. It's called my pinky.

So my question for you is, who would you like to present insurance to that you might not think is attainable?

Oh, who would you.

I guess I should say, who would you love to have as a client, but you're not sure if you can reach them or not?

Oh.

Baby boomer celebrity.

Okay.

Anyone in particular?

Oh, Walker. Texas Ranger guy. Who am I thinking of?

Oh, jeez.

He hides under the bed. That's what the devil checks for. What's his name?

God. Chuck Norris.

What'd you say?

Chuck Norris.

Chuck Norris. Yes, of course.

Yeah.

When he does push ups, he doesn't push himself up. He pushes the world down.

That's right. Exactly.

Yes, yes.

I'd love an endorsement from Chuck.

That would be great.

Well, you have books, you have all kinds of stuff there. I believe you could reach out to him. I mean, you've got tens of thousands on YouTube.

There's no reason.

I think it's possible. That's cool, though. Yeah. You threw me for a loop. I was like, oh, shoot, I got to come up with it. We both can't not know.

I knew the old Chuck Norris jokes.

Though, so I knew we'd get there eventually.

I was like, well, we do have a couple monitors we could Google it on. But. All right, we're going to thank our sponsor and come back for the imperfect action round.

You've heard me say every business needs.

A book, including yours.

And it's true. And that's why I'm launching my new book@eapublishing method book.com. so you can learn the seven steps to publish and promote your nonfiction lead and profit generating business book in eight weeks. But you know what? Don't take my word for it. Take it from a few of my authors like Lori, I went from having.

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Unmanageable.

John Cody.

I've worked with Mario over the phone and online and he's been very helpful in getting me where I needed to go with promoting my books.

Rocio, there's no way in the world I would have been able to do this with somebody else again. I've attempted it in the past. It didn't serve me. As a matter of fact, I ended up more frustrated than anything. So this has been a very seamless process.

Adele, if you're looking for an amazing.

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Back with the imperfect action round.

David, are you ready to take imperfect action?

I'm ready.

I got three questions for you. Rapid fire answers, 60 second or less.

The first one is what is the fastest path to the profits?

Absolute focus on one strategy. Don't be a jack of all trades. Be a master of one.

Oh, I like that. You changed the ending.

That is good. Number two.

That was so good. What was the question?

I did.

That was good. Wow. I'm just realizing the.

Yeah.

Jack of all trades. Master of none. Don't be a jack of all trades. Master of none. You said be a master of one. I'm like, man, that's a good.

I made that up too.

I don't even. I don't even want. What is the second quote? Who cares? That was so good.

The camera here.

Thank you.

Absolutely. And it's being. I got a recording of that too. That's going to be a clip.

I don't know. There's a second question I always ask hundreds of episodes. Oh, what is the biggest problem? That was really good. I like that. Do you mind if I borrow it?

Absolutely.

Steal it all you want.

The second question is dealing with your prospects and what's the biggest problem your prospects make and the fastest way for them to Fix it.

The biggest problem is they're world class procrastinators and the solution is stopping at nothing to get in front of them. Even if that means showing up at their house unannounced to us, the information they requested.

Okay, number three, what is the best.

Way to maximize customer lifetime value?

Understand that the first sale is making them a customer, but it takes multiple sales to make them a client. And the broader you go with product selection and the deeper you'll go with your relationship. So in our business, we start by selling one product, you know, mastering that one product. But eventually we grow our product clients or our product offerings to Medicare or annuities or other products. We go back to those clients and sell them other policies which increases not just the customer value, but it reduces attrition or what we call lapse ratios. More people will stick with you the more policies you have in the house. So the more that you do that, the more money you're going to make on clients and the more satisfying of a career you're going to have.

Excellent. Thank you for that. What books would you recommend to Expert Authority World.

Besides.

No.

I like, let's see. Anything. Dan Kennedy's good. I'm 36. Those of you who are 35, 40 and older might remember Dan Kennedy, big time marketing guru from the 90s and 2000s. He doesn't do much today. He almost died a year or two ago. So I would definitely look into his books.

Those are great.

The autobiography of Ben Franklin is excellent. Any autobiography by successful people? Tony Robbins recommended that as a part of your process of learning success. See what other people have done to be successful. You'll start to see commonalities and trends. You'll notice a lot of them failed before they became successful. That's a big thing I recognize and that's, I think, a good start.

Well, I appreciate that. And we'll make sure your books are on the show notes page on eainterviews.com as well. Thank you for making those available because between you and me and everyone listening, one of the things I look for for having great guests on the show is other resources because I feel it's a disservice if I bring someone on, have them fall in love with you. And now it's like they're going off a cliff. There's no training, there's no, I mean Even like your YouTube, you got tens of thousands of people on YouTube. Like there's good stuff on there. So thank you for making those available. But I always make sure the Links are on there. So.

Aside from that, where would you like people to learn more?

Yeah, two places. If you're interested in becoming an agency or, I'm sorry, an agent, you want to learn how we help people do what I've described Today, my website's davidduford.com. check it out. You can also go to David Duford on YouTube. If you're somebody who's interested in getting life insurance, you want to get a free quote. My other websites, buylifeinsuranceforburial.com, check that out. There's a quota on the side. Get an idea of what life insurance to run. You can be an older person, you can be younger. It works across the board.

So there you go.

Excellent. Well, thank you again so much. It's been a pleasure, Mario.

Thank you.

Take care.

All right, Expert Authority World, we have another great episode here today. I'll see you tomorrow. Have a great day and God bless.

You're already the expert, but have you transformed your expertise into a tangible asset that will generate qualified leads while increasing profit for you 24 7? And if so, how well are you promoting it? With my new book, the Expert Authority Effect Publishing Method, I take you through my process step by step. Visit eapublishingmethodbook.com today to learn the seven steps to publish and promote your nonfiction, lead and profit generating business book in eight weeks. Visit eapublishingmethod book.com to get started. Now, once again, that's eapublishingmethodbook.com thanks for listening to today's episode. I would love to know what you enjoyed most from it if you haven't done so already. I invite you to connect with me on my new LinkedIn. You can go to it directly at eainterviews.com LinkedIn Once again, that's eainterviews.com LinkedIn LinkedIn lastly, check out the full eainterviews.com site for complete show notes, the full interview video experience, links to the resources we mentioned, and more. Have a blessed day and I'll see you on the next one.