The Broker Advisor Podcast

James Crook interviews the different stakeholders involved in bringing the MGIS and Employee Navigator partnership to fruition. He speaks with Jeff Brunken, President of MGIS; Paula Hanson, AVP Benefit Technology Solutions at Reliance Matrix; Jessica Myer, Manager - Benefits Technology Solutions at Reliance Matrix; and Maggie Wills, a Senior EDI Account Manager at MGIS. This episode explores the what, how, and why of this new partnership.

Jeff Brunken, the President of MGIS, discusses several of the trends brokers should expect to see in the disability insurance market in 2024.

Andrew Davison, COO at MGIS, and Kevin Cranston, Head of Product at Reliance Matrix, discuss the new partnership between MGIS and Reliance Matrix. MGIS and Reliance Matrix recently introduced Disability Guard for Doctors™, a new disability insurance product that caters to the unique income protection needs of doctors.

Randy Tate is the Director of Underwriting at MGIS. Before working in underwriting, Randy was an MGIS Regional Vice President of Sales. During his sales career, Randy encountered an orthopaedic surgeon who got burned by a bad group disability policy.

Joy Sorensen Navarre discusses her role as the President of Navigate. Navigate focuses on helping physicians resolve their student loans. According to Joy, Navigate has helped their physician clients save over $420 Million so far.

Paul Cella is the Managing Principal of the KeyArx group. Paul has spent 30 years providing insurance and financial advice to physicians.

"If you're not discussing income protection with your clients, you are not doing your job, period." Barry Lundquist has over 35 years of insurance industry experience in risk management, sales leadership, and senior executive management. In this episode, Barry discusses why it's so critical for brokers to have disability insurance conversations with their clients.

James Leary, Co-Founder at OneProtection, discusses: "The four P process" of selling disability insurance. Using LinkedIn to increase sales How advisors are using OneProtection to drastically improve closing rates

Andrew Davison, Chief Underwriting and Operating Officer of MGIS, discusses 7 trends that may appear in the disability insurance market this year. 

Dr. Kim Harms tells us about how she got into dentistry and the disability that changed the course of her career. She explains why healthcare professionals of all disciplines need to secure the right amount of disability insurance when they’re young. Learn more about Dr. Harms on her website: https://www.drkimberlyharms.com/about/ Some Highlights From the Transcript: Young physicians, dentists and other healthcare professionals need to understand that they could develop a disability tomorrow. Even if that disability doesn’t stop them from working today, it will be used as a preexisting condition that disability insurance carriers will exclude from any policy they issue to you in the future. (03:49) Kim discusses the impact a good career advisor can have on a determined college student. (07:36) Apparently, you can be a great dentist with seven fingers! (08:15) Kim discusses not buying insurance early because it was expensive (08:40) Disabilities can come suddenly and unexpectedly. (10:12) Business overhead expense insurance is a great idea for small practices. (12:49) Most young dentists understand that it’s important to get disability insurance early, but some feel invincible and balk at the associated cost. (23:41) When Kim’s husband passed away, his life insurance policy made a huge impact on her life. (25:45) Make sure your broker who understands the difference between pre-tax and post-tax benefits. (29:49) Some group plans will pay disability benefits past normal retirement age. (37:14) Healthcare professionals would rather work than collect insurance. (41:16) Make sure you have a contract expert look at your disability policy. If you don’t, you could end up with something that doesn’t suit your needs. (43:08)

Brian Travers tells the story of being born with osteogenesis imperfect, otherwise known as brittle bone disease. His condition led to many trips to an orthopedic surgeon who inspired Brian to become a physician. Brian worked hard and graduated from medical school but became disabled during his residency. After suffering through severe economic hardship, Brian became a disability insurance broker to prevent what happened to him from happening to anyone else. Brian is well known for creating the "window mask." The window mask helps those with hearing impairments read lips, customer service workers provide friendlier service, and teachers connect with their students. You can learn more about Brian's businesses at these links: https://www.bluescleradi.com https://anchorhandmadedesigns.com Some highlights from the transcript: Brian discusses his "aha" moment about the importance of disability insurance. (2:34) The story behind Brian's well-known logo for Blue Sclera, his disability insurance business. (11:17) Brian's default of his student loans led to losing his car and his home. (12:53) Disability Insurance can reduce the hardships that come from being disabled while struggling to pay back student loans. (14:12) "You need disability insurance, I didn't know what it was, this is what happened to me." (15:11) Bad credit due to defaulting on student loans can take away the ability to find a job. (18:08) In addition to the difficulty of finding a job with bad credit, finding a house with bad credit is another stumbling block. (19:35) Certain disabilities can hold someone back from completing their residency. (24:00) Planning for the future is important and necessary. (27:40) Group coverage can be changed or canceled at any time. (29:08) Medical underwriting for life insurance is different than disability insurance. (34:12) Brian was covered by his disability insurance during his second disability. (35:53) His group policy dwindled down to nothing, but his individual policy saved him. (37:03)