David Duford is the owner and operator of DavidDuford.com. He specializes in recruiting and training new and experienced insurance agents to become top producers utilizing proven sales and marketing systems such as Final Expense, Annuities, or Medicare Advantage.

He’s operating a highly successful YouTube channel with nearly 1400 downloads in a month 37,000 views and he’s all things about helping other insurance agents produce and grow their business. Has written 3 best-selling insurance sales books – The Official Guide To Selling Final Expense, Interviews With Top Producing Insurance Agents, and The Official Guide To Selling Insurance For New Agents.

 

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Becoming a Best in Class Insurance Agent with David Duford

 

Brett:

I’m excited about our next guest. He is all things insurance, he’s had a really great State of Tennessee, and before beginning his church career in 2011, he had the opportunity to really dig out of a hole and had it very, very humble beginnings. But his existing business at the time, which was body elite Personal Training in the fitness industry was going down the tubes financially due to the negative economic factors of the Great Recession, and so he went through the ups and downs there, and he finally found some success when he started to become an expert all things insurance. I’m not doing it justice with his intro because it’s a lot on there. But he’s operating a highly successful YouTube channel with nearly 1400 downloads in a month 37,000 views and he’s all things about helping other insurance agents produce and grow their business. Please welcome to share with me, David Duford. David, how are you doing?

David:

Greetings and salutations. Thanks for having me.

Brett:

For our listeners getting to know you a little bit more. Would you give us a little bit more about your background and your current focus?

David:

I specialize and teaching agents to sell a specific niche kind of insurance product called burial or final expense insurance, also Medicare and annuities. I’ve been doing the business for 10 years first as a personal producer, desperate to find work and insurance is always hiring as people now and then eventually building into my own agency in 2013 to 2014 scaling up via YouTube and creating an influence in the insurance sales space, and really, the rest is history. I’m still helping agents who are brand new to the business. We’re even experienced Maximizer Commission’s help them grow as agents and really give them an opportunity to run an insurance sales business.

Brett:

David, I believe we’ve all been given certain gifts, these gifts are given to us to be a blessing help to others. Once you go back to your high school days, maybe your college days, maybe the Body Fitness days. What do you believe maybe one of that one, two gifts that you’re given, and strength superpower, some people call them different things, and how does that help you help and bless people today?

David:

Well, I have short-term amnesia. I mean, not clinically, it’s a blessing. Anytime that you’re in sales, and you got to wake up after a rough day or week and go out there and try to find somebody to sell something to short-term amnesia is a good thing that keeps you focused keeps you going. The day is new, what happened yesterday isn’t a thing. that’s been a huge help to me as a personal producer getting out of there, and I think just I’ve always had an indomitable work ethic, I work really hard. I love to work, I have a passion for it, thank God, I love doing what I do, and it is kind of who I am, and if you love what you do, it does not really work after all right, and I think both of that kind of guided me in the way to lead me where I am now.

Brett:

Short-term amnesia to be to pick yourself up off the mat of some rep sales days and a relentless work ethic. Those are great gifts, and so now let’s dive right into the show becoming a best-in-class insurance agent. David, what’s the number one secret to becoming a best-in-class insurance agent?

David:

I think it’s just seeing the people. Let me explain what that means. This is an old phrase in the business that really still stands true to this day, and when agents ask well, how can you be successful? What’s the secret to being successful in selling insurance, it usually comes down to three things, seeing the people seeing people. In other words, if you want to have success in final expense, selling Medicare annuities, property and casualty anything, you have to get in front of people who may be interested in your product. You cannot be successful unless you’re doing prospecting lead generation, and getting in front of people that have expressed a marginal interest in whatever it is that you’re selling, and then some people think, oh, maybe it’s a sales strategy that this makes the difference or maybe that’s secret and, sales training does matter. But all of it’s for nothing. If you don’t get in front of enough prospects. to leverage the numbers and your favor. I think if there is one secret, it’s about running a lot of appointments, it’s about seeing and getting in front of a lot of prospects and asking for a lot of them to buy, and if you do that, I think that success is that much better off and closer for you to get

Brett:

Sales one on one, see this, see the people so the people get in front of them. Prospecting legion, getting with people who have a marginal interest face to face, on the phone, on the zoom, perhaps on the YouTube, which leads into the second question, you’ve grown your YouTube following in your brain online. What’s the number one secret to getting in front of more people, people via YouTube

David:

For me, it’s creating world-class content that resonates with the audience that you have in mind. I think that’s the number one recommendation all top YouTubers will give you is you got to know who your audience is, and you have to know what kind of information they’re looking for. What I specialize in on YouTube is talking about my experience selling final expense life insurance, and I taught my audience free of charge without expectation of buying or joining my agency, how I build for the poor, how I pre qualified, how I position, my product, how I closed what type of leads I used, and this constant information that made a difference in my audience’s life is what built my credibility and built my influence me to the point where I’m a very well-known person in the insurance sales space, and if you’re out there doing any kind of YouTube or anytime, any type of content, strategy, if you just remember the audience and you remember helping them out and over giving more than you think, then they will reward you with business, and I’m a living testament that it doesn’t happen overnight, guys, but give it a couple of years consistently executing you’re gonna find people love and adore you, and you’re their first choice when it at whatever it is that you’re selling, or service you’re providing to work with you.

Brett:

I’m curious when you first started YouTube, were you speaking to the end-user client? Who is buying insurance or was it always to the business professional? Who is the insurance world? Like what made that shift? Did you see natural growth from clients? Anyways, when you were just coaching the business president curious about that audience?

David:

I started and still continue to talk to the aspirational, new, or experienced insurance agent. That is my audience. I make content usually largely around the possible agent who’s looking at the business judging it trying to see if it’s a good fit, and certainly, those who are now license and find out it’s way more overwhelming than they thought, and I’ve always done that. Again, I started my agency in 2013, and just like a lot of agencies out there you struggle, where are you going to find good candidates to join your agency, and at the time, I just got lucky in a sense, because nobody really was leveraging YouTube to the extent that you could. I just started putting content out there on YouTube, and just hoping for the best not really expecting to be as good as it ever has turned out, and it just lo and behold, there’s a lot of people out there looking for advice on how to sell insurance, and naturally, some of those are going to come to you and want to join your agency because, if you’re giving us good quality information for free, what’s it like working for the guy? Work pretty well?

Brett:

It makes perfect sense, and then it’s also a value that they can consume on their own schedules. Their own pace. Now that I’ve been on YouTube now, and maybe a fraction of where you’re at, but I’ve been about a year now, and it’s interesting because you’ll get people who call and it’s like, they know who you are, they feel like they know you, and then since they kind of do a lot of because, like, if you’re transparent, and you’re sharing a building creating content and even building rapport, we’re telling stories and your life and just really just documenting the journey. I try to tell people who are getting new or newer to YouTube or getting on video or creating content, it’s like, add value and document the journey, and the struggles and the pain, not all just bright, shiny perfect things like we’re going through a whole cryptocurrency series now where we’re teaching people how to defer tax on cryptocurrency, and then invested into insurance products and real estate and different things, all tax-deferred, and we’re literally like from square one, about eight weeks ago, we started the weekly free mastermind, and we say hey, we’re gonna document the journey. We’ve never been in this space before we go, we have a goal on a vision to conquer this, and we’re going to document all the challenges, all of the pitfalls, all the things you have to work through, That at one point, you can go back and watch all of this catch up with us, and then we can help you achieve that. Talk about being the guide, being the coach who’s a few steps ahead of people in your agency, and even though you are once in the very beginning, you’ve been where they’re at and talk about how you’ve got to make sure people know that at one point you were the newbie, and you didn’t know what you were doing and you had to do that. take a stab at this.

David:

We know it’s funny that you mentioned that because it’s gonna be I think the influence of our industry lends me an advantage that other agencies don’t have and how I market myself with content influencers type strategy, your audience, some of them probably have sold insurance at some point, and the one thing that’s true as a general guarantee, is that a lot of the agencies that recruit new talent into the business follow a multilevel marketing type of culture. When I say multi-level marketing or MLM culture, what I mean by that is picture MLM most of us think of a pyramid, or we think of meetings are fast cars, and the Rolex is in the money and stuff like that is the culture that brings people into this business, and what people find out many cases is that that whole culture is kind of just a front, for a lack of substance, there’s really no training, there’s no support, there’s no agent development, that a lot of these agents just throw people to the wall and see what sticks, and so I was, it’s always been like that since I started, and the nice thing about YouTube, what it does that a lot of other avenues don’t do is that it solves for this, I think, a crisis of trust, that’s just generally in society right now.

Who do you trust with X? Who, what agency should you trust, because they all know well enough, what MLM kind of the culture comes with kind of eye-rolling, mass recruiting, etc. But they see that there’s an opportunity in this business, and that gave me the opportunity to say, I’m the anti-MLM. I’m not going to talk about the recruiting and all that stuff that everybody else does, I’m gonna talk about the substance, how to be successful, how to position myself, and with YouTube, as you said, You’re literally a celebrity to a small group of people, these people have been lurking and watching your videos for months, if not years, and by the time you talked, and they know you more than some people, you would consider friends, because of all the videos they’ve seen.it positions me in a way that is trustworthy. People see my successes in my business, they see the failures I went through, and this embodies a sense of trust, you just are not going to get through a traditional recruiting strategy, especially considering the whole cultural issues that are that come with it. It’s been a huge benefit.

Brett:

By the way, you can learn more about David Duford at DavidDuford.com. That’s davidduford.com.  find it really fascinating a crisis of trust, and I couldn’t agree more, and even there’s a crisis of connection. COVID-19 and separations of people, and, and big meetings and groups, how it used to consume, let’s say educational content, and not that it won’t come back to some normalcy to that. But the majority of people are spending more and more time learning things, developing things, at least in the initial stages on YouTube. It’s a great place to supplement and to build wisdom, right from people that are experts and to be able to do it on the scale. I absolutely love that. Now I want to dive into this specific part. Because you mentioned, your niche down on what you help people with you said I think we’d end of life and one other. Would you just touch on your specialty and the importance of that?

David:

I specialize predominantly in final expense, life insurance. What that is, is what we call final expense or whole life, simplified issue, insurance products. The structure of the product is it’s designed to guarantee to pay a death benefit, along with having the prices fixed, and the coverage and hopefully most cases fully covered from the first day if the clients medically qualified. The benefit of this is that we target predominantly seniors who are on a fixed income, usually a low fixed income living month to month on Social Security or disability, and they need something that’s reasonably affordable, but also they can medically qualify for that whenever they do die, we’ll be there to protect them, and the opportunity of our market, I think, is because there’s a lot of lower-income people that hit retirement that doesn’t have as much money as they thought they did. But as we all know, we’re guaranteed to die. We got to worry about how we’re going to pay for a funeral. Because many times our clients just simply don’t have the money.

Also our particular type of program, and this has beneficial not only to the client but the agent so we can get an instant decision to medically qualify the client on the first call. From a sales perspective, we’re not going back multiple times. This is a one-call close business, we’ll get the client approved and accepted or we pivot to another product or we never do. There are no go-backs, no second, third, fourth appointments. It’s a very sales-oriented type of profession. People who don’t want to get mired down in the thick of trying to manage a bunch of pending business, or doing examinations, that kind of thing. It’s very appealing to the client that they can get what they want real quick and appealing to the agent because it contributes to faster cash flow, activity orientation versus managing a process that may take weeks or months like traditional life insurance, so but it’s a great process. For the right group, it’s not perfect for everybody no insurance product is but targeting the people we do. It’s a really good fit.

Brett:

Got it. Final expense, whole Life Insurance guarantee to pay the death benefit, typically for seniors on a low fixed income, and that you can medically qualify, and as far as the perspective of the age, it’s kind of a long call close and that you’re gonna be able to qualify look at it and move on. It’s not managing the long-term type of sales cycle. Excellent, that’s the first one that you mentioned the second one, too, right. The second one, maybe that’s it. Maybe that was the one you said.

David:

I mean, that’s kind of the main, if we if as far as a life insurance product, that’s our specialty. Now we do sell a little Medicare, supplemental coverage, which also helps it’s a little bit different at supplements existing coverage. It’s a smaller portion of our total volume of business, but it’s useful because it helps people get more comprehensive coverage, just original medical.

 

Becoming a Best in Class Insurance Agent with David Duford

Becoming a Best in Class Insurance Agent: “Before you start trying to work out which direction the property market is headed, you should be aware that there are markets within markets.” – Paul Clitheroe

 

Brett:

What’s an example? So 65? Relatively in good health, and single fixed income. Let’s say it’s a lady or gal.

David:

We call our clients Mildred. Mrs. Jones?

Brett:

Here we go, and what would be the cost? What would be the conversation? Like, kind of give me a little roleplay here?

David:

In order to find out what the costs are, we have to do medical underwriting, we usually don’t start quoting right away, because we can’t really until we know exactly what their health issues are. Let’s say we do all that. It just depends so a lot of our plans, probably 35 to 45 a month, dollar and a half a day, for full coverage for a $10,000 plan. That’s a very common amount of coverage we get. Most funerals. Most people buy these to pay for funerals, sometimes cremations, and if you’re looking at a funeral, it’s around $10,000 is the average, and we just pick a company that’s best suited to the client, and what we think will be most likely that is going to approve them, and we just do an underwriting assessment. Sometimes we can make a phone call for the client’s company to pull up medical information to render a decision, and then it’s done. We write it up. The policy comes in a couple of weeks.

Brett:

35 to $40. Assuming that the medical histories, let’s say average look good, and then that’s going to pay about 10,000, on average, at the death to cover expenses, such as a funeral or cremation. Is that a fair summary? Then the and then as far as the insurance professional, they have to have life insurance life and health, or what’s the designation.

David:

The licensing, to sell final expense. The only thing you have to have is a life insurance license because of final expenses, life insurance, it’s just a marketing term we use to better describe what it actually is used for. If you want to sell Medicare, you have to have a health insurance license.

Brett:

Is this known as whole life?

David:

Correct? Most final expense is a whole life type of product. we very rarely ever use term insurance to sell a final expense type proposition.

Brett:

I don’t know for sure. But would that mean it’s less expensive, or what would be the reasons for that? Because they’re older, can you walk us through what in turn would be appropriate versus your life?

David:

Here’s the problem with the term, and there there are, depending on who you talk to, you’ll have long drawn out almost with religious conviction arguments about his term better than whole life, and you’ll have arguments that end and never ever ending arguments about it, and I don’t even I don’t think it’s wise to say one type of product is better than another. All insurance is a tool. The point is, is we have to know what the problem is. We can select the right tool. For seniors who are trying to protect against the cost of a burial that don’t have enough money, and time to save for it, we think a whole life policy is better because the benefit of a whole life plan is it’s guaranteed lifelong protection, as long as the client continues to pay the premium. Because we know the nature of the problem of death is it’s guaranteed. We don’t know when it’s going to happen. It might happen tomorrow, might happen and 50 years from now? But the point is we need an insurance policy that will protect for tomorrow, and for the next 50 years plus whole life does that. Now the problem with Term Life Selling it to seniors in the same position is multifold problems here.

The first problem is, it doesn’t accurately solve the problem. The best term insurance is temporary coverage. In other words, it’s only good for 10 years, 20 years, 30 years, and many times as our client creeps up in years like 65, even 75 Plus, you’re not going to be able to get a 30-year term much less a 10-year term. The other issue is that term insurance typically is much more difficult. qualify for, there’s a lot more rigorous examination of medical history. If a client has significant health issues, they may qualify easily for one of our simplified issue whole life plans, but they may get declined quickly with the term insurance plan. That’s why in this case, we think the best tool is a whole life plan for our clients because it better matches what the client’s trying to accomplish. As far as term insurance goes, I think that’s a perfectly fine tool, especially if you’re younger, and you’re looking to replace an income if you pass away. I personally own term insurance, I think it’s a great idea. Because if you die early, and you leave behind a family, and your major a person giving income to the family, and it’s gone, well, a term insurance plan is going to pay a bigger death benefit out the whole life. It just comes all down to what’s the problem, and which one of our tools is going to be the best solution.

Brett:

That makes perfect sense. Whole life is guaranteed, basically, as long as keep paying the premiums forever term is going to be temporary, and really the key is defining the problem before you can get the medicine or the solution, and so what tool works best for that, and it, by the way, it’s not unlike the 1031 Exchange versus the Deferred Sales Trust, and another thing called Delaware Statutory Trust and internal remainder trust. First, define the problem, define the vision for what you want the outcome to be, and then figure out which tool is best for you. By the way, it might be a mix, it might be a little bit of both, and so that is why you want to get with someone like David Duford or even me when it comes to capital gains tax rule. But David for the insurance part of things. You can learn more about David Duford at davidduford.com. It’s davidduford.com. Today, we’re going to shift a little bit here to investing in Capital Gains Tax, I’m going to test your knowledge here. I don’t know. We’ll see where it goes here. I’m not sure about the insurance world. But I wonder what’s the biggest frustration when it comes to Capital Gains Tax Deferral. But you’ve seen me with your clients or friends or family on the sale, highly appreciated assets, anything come to mind there?

David:

No. Not with my clients, my clients are, that’s the last thing they’re worried about, just because that ain’t a problem because I don’t have it.

Brett:

No doubt, but I do want to talk to you for our listeners. If you sell something that highly appreciates it, you can use the cash flow from that to fund whole life or term insurance policies, right, which is pretty cool. Like, let’s say you would have sold a $3 million business. In fact, we just did a deal in Alabama, and then he’s building a project in Tennessee, for a client of ours a $2.6 million business deferred 600,000 of tax, all tax-deferred, he’s building 70 multifamily units, he can also use the funds from that trust the proceeds to fund life insurance, so he would have paid 600. But instead, it’s all invested, and it’s earning interest of which you can find life insurance. It’s kind of a cool arbitrage and then to take care of the family. Alright, that’s little plug. If you wanna learn more about that, you got to go to capitalgainstaxsolutions.com, it’s capitalgainstaxsolutions.com. That being said, are you ready for the lightning round, David?

David:

I’m ready.

Brett:

Alright, so knowing what you know, now, if you’d go back to your 25-year-old self, what’s the one Golden Nugget you’d make sure to tell yourself to do?

David:

Shut up and follow the fundamentals.

Brett:

Good. What’s the one fundamental, you would make sure you would have followed?

David:

Focus on one thing and say no to everything else?

 

Becoming a Best in Class Insurance Agent with David Duford

Brett:

I like that. Second question. What’s the one book you’ve recommended or gifted the most of the past year?

David:

I would say, the look back further than that, probably. Atlas Shrugged by Ayn Rand.

 

 

 

Brett:

What’s the one YouTube topic you feel you’re coming back to the last most in the last year.

David:

Long-term projections in the business such as transitioning from an active income strategy to a passive income strategy and insurance sales.

Brett:

There’s a curious part of it, maybe someone who has a big book of business, and they’re gonna be selling their book of business, we’ve helped financial advisors who have sold that capital gains tax. That’s something maybe to take a peek at. If someone’s gonna is selling and younger guys taking overlook at it as a way to acquire that business by helping that person defer tax. These are all tools you want to know about using the deferred sales trust. That’s something to consider. I wanted to plug that in before someone forgot. Next question. What about curiosity? What are you most curious about right now just in general in the world?

David:

Why do people do what they do? I’ll never get the answer to that question but hopefully, come close.

Brett:

Then maybe one of the top tools you use, to run your systems, systems and processes, and tools for your business.

David:

I mean, there’s a whole bunch of apps and processes but I think the one that comes to mind that helps me to a ton is simple, yet effective, calendly I run a lot of one on one appointments, I don’t have to go back and forth to book them the clients self-book. It saves me the pay, I would pay an assistant the correspond, it’s been a real, great tool to make life a little easier.

Brett:

Last question here, and then we’ll remind listeners where they can find you. After all your success helping tons of agents succeed and you succeeding and doing all the things you do, how do you stay centered in your values? How do you stay encouraged to charge forward to reach new heights?

David:

It’s an interesting question, I think something happens when you start earning an income that you never imagined you would have. The money isn’t as big of a deal as you thought it would be. One of the things I’ve gone through is that I’ve hit my goals, I’ve had long term financially, and I haven’t really changed all that much my spending habits haven’t changed. I think I’m the same person, and I think as far as what I’ve gone through, it’s kind of a surprise, really, and on the flip side, it’s kind of interesting, because it’s not about the money anymore, I guess, is what I’m trying to say, and what it’s about is really just doing the right thing. I don’t want to say it’s because I have enough money that  I don’t mind being truthful and honest, and all the stuff I’ve always been the same way I guess I’m trying to say in one word, but at this point, it’s it’s really just about helping people, and that’s about just doing what you’re supposed to do. delivering on your promises and keeping your promises, and I feel at the end of the day, that’s what really is the most lucrative that’s what makes this business the most profit makes your business the most profitable. If you follow through, and there’s just a calm, consistent beacon of success, and following through on these things, you’re gonna attract the right people to your business, and that’s gonna, I think, make your business overall. kind of a choppy way to explain do what’s right, it pays the best it makes for the best business, and I think it’s just the best thing, short term, and long term. It’s hard to do in the short term sometimes, but of course, it’s best for the long term.

Brett:

What a great way to wrap up the show, and for our listeners who want to get in touch with you would you give them one last reminder where they can find you?

David:

DavidDuford.com or go to YouTube put David Duford then go down to the black hole of YouTube videos I have.

Brett:

David, thank you for being on the show. I want to encourage you to keep using the gifts and talents even giving of relentless hard work and short training amnesia, to forget about your past mistakes and build more for yourself and your family and all of the folks that follow and on your team, and with that, I also want to thank our listeners for listening to another episode of the Capital Gains Tax Solutions Podcast. As always, we believe most high net worth individuals and those who help them they struggle to clarify their Capital Gains Tax for options not having a clear plan is the enemy using a proven tax deferral strategy such as the deferred sales trust is the best way if you’d exit highly appreciated assets and I build and create and preserve more wealth get what David Duford for insurance, especially if you have any need or have parents who have the need for final expense, whole life insurance. We so appreciate your time and your listening out there. Again go to capitalgainstaxsolutions.com. Remember, we’re also streaming expertcresecrets.com. We’re trying to equip and train commercial real estate agents on how to use the deferred sales trust, eliminate the need for the 1031 Exchange. You can go to expertcresecrets.com to learn more about that. We appreciate everyone out there and we wish everyone well. Bye now.

 

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About David Duford

 

Becoming a Best in Class Insurance Agent with David Duford

David Duford is the owner and operator of DavidDuford.com. He specializes in recruiting and training new and experienced insurance agents to become top producers utilizing proven sales and marketing systems such as Final Expense, Annuities, or Medicare Advantage.

He’s operating a highly successful YouTube channel with nearly 1400 downloads in a month 37,000 views and he’s all things about helping other insurance agents produce and grow their business. Has written 3 best-selling insurance sales books – The Official Guide To Selling Final Expense, Interviews With Top Producing Insurance Agents, and The Official Guide To Selling Insurance For New Agents.

 

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