Meeting Client Needs The Fraternal Selling Advantage
What needs are you meeting for your clients?
What are our needs? Exploring Maslow’s Hierarchy Insurance Retirementandplanning
What is a Fraternal Benefit Society? • 501(c)(8) Tax exempt designation • Nonprofit • Is formed for the betterment of communities through charitable donations and volunteerism • Shares a common Bond • Has local chapters • Has insurance and retirement planning products • Profits are used to provide benefits to members and their local communities
American Fraternal Alliance The American Fraternal Alliance unites 54 not-for-profit fraternal benefit societies operating in 50 states, the District of Columbia and Canada. Alliance member societies represent more than 7 million individuals, making it one of America’s largest membervolunteer networks. Main Roles • Advocacy • Policy Development • Education
GBU’s Fraternal Benefits Model Maslow’s Hierarchy of Needs Benefits • Orphan benefit • Newborn Benefit GBU life insurance and annuity products Activities • Virtual Events • GBU Member Community • District Meetings • Community Events Volunteer & Fundraising programs • One Hour at a Time • One Member at a Time • Birthday Match • Districts in Action • Members in Action Member ProgramsRecognition • Volunteer of the Year • Optimity • District Awards • Scholarship & Grant Awards ProgramsEducation • LearningLanguage • Optimity programsLegacy • GrantPerpetual ProgramsEngagement • Contests & Games • Reporter Articles • Volunteer Days • Give Back Groups GBU Life’s Fraternal model seeks to meet the needs of life insurance and annuity clients on multiple levels, helping members to achieve higher purpose and offering great value in addition to solid insurance products.
Market Segmentation AFA Research conducted in 2018 created 4 categories of consumer behavior around community involvement Passionate Dabblers • Want to give more, but lack time resources • Most likely to be in the market for life insurance Dedicated Do-Gooders • Passionate about community • Always seeking to do more • Influencers & advocates • Most likely to own life insurance products. Convenience Seekers • Contributing average amounts • Looking for easy ways to give back • Social and Busy • Budget-conscious • Likely to buy insurance in the next 5 years. Skeptical Supporters • Negative view of financial services companies • Least likely to give or volunteer • Price driven • Untrusting of charities Satisfied Contributors • Generous and happy with their efforts • Not seeking ways to do more • Evaluate products based on quality
Best Customer for GBU Message
Key Fraternal Programs Give Back Groups • Matches funds raised for any 501 organization(c)(3) • Matches up to $1,000 per GBU member on the “team” up to $5,000 • Allows reimbursement for ANY community project • Reimbursement up to $250 per member up to $1,000. One Hour at a Time • Donates $15 per donation hour back to the organization • Up to $150 per volunteer project. Give Back Support Programs Birthday Match • GBU will match donations made up to $100 during the member’s birthday month. • GBU will match donations up to $250 for an online “birthday fundraiser” during the member’s birthday month. One Member at a Time • GBU will donate for each NEW GBU member to the GBU partner organization of the member’s choice. • New member donation amount is $25.
Key Fraternal Programs Reimbursement, Grant and Scholarship Programs ScholarshipsCollege & Grants • Annual Scholarships for 2-year, 4-year and graduate programs • 100+ $500 grants awarded each year • Additional community and district scholarships available. High GrantsSchool • Grants of $250 awarded to help high school freshmen with equipment expenses • High school grants can be used computers,towardtest fees, study supplies, etc. Language Learning • GBU will reimburse any member up to $250 upon completion of a language course • Both online and traditional classroom learning are eligible for reimbursement. Drivers’ Safety • GBU will reimburse both new drivers and senior citizens up to $50 upon completion of a drivers’ safety course. • Courses can be completed both in-person or online.
Key Fraternal Programs Discount and Engagement Programs VIP Perks • Website and app with local and national discounts • Discounts for entertainmentfood,travel and more • Members can switch location to get local offers while traveling Optimity • App for personalized health experienceimprovement • Focus on physical, mental and financial health • Members earn points for working toward health goals • Points can be redeemed for rewards such as gift cards or donations.charitable Member Community • Private online Facebook-like community for GBU members. • Allows for easy event sign up, to keep up with news, and find out about new benefits • Each district keeps members up-to-date in their own group • Mobile app available to stay up-to-date on the go
Marketing Materials Fraternal Marketing Materials • Benefit flyers • Member benefits guide • “Why GBU” video Available soon for order on the producer support site!
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