[JK8PSUNK]
Some years ago now , I left teaching , erm , and joined Abbey . I went on an induction course down in Bournemouth , which was all technical , er , I came back to see my first clients , and I cringed at the thought of it . Can you imagine , you know a teacher , I thought I had to tell them every minute detail of these plans . All that business about allocation of units , I 'm sitting them this . I mean , I still now , cringe at the thought of it . Because that is n't what the clients want to know . They want to know that you know it , and they want to feel confident that if they ask you question you can answer it , but they very much want to know what it does for them and how much it 's going to cost them basically . Erm , perhaps the easiest way to talk about it is , it 's a fact that one point three million , quarter inch drill bits are sold in the U K. In fact they were sold last year in the U K. Now , one three quarter inch drill bits . I mean can you imagine people stopping their friends outside the D I Y store and saying you must buy one of these bits , it 's absolutely superb , look at the metal , look at the shape , it 's absolutely wonderful . They have n't been bought for what they are have they ? They 've been bought for what they do . They 've been bought for the fact that all over the country there 's all these holes in the wall and people are putting up shelves , building furniture or whatever . So it 's very much what it does , and not what it is . Erm , another way of er , er , talking about it . You 're going to a friend 's for a barbecue on a hot summer 's evening , and you 're walking up the drive and you can smell the barbecue sizzling away . Er , er , and your mouth starts to water , and you 're thinking , this is going to be great . You get to the barbecue , and amongst other things they 're barbecuing sausages , and you think super . Well if they actually took the time to explain to you what went into those sausages , you probably would n't eat them at all , would you ? But , because of the smell and the taste and everything , you 're quite happy to er , eat the sausages . You go for the sizzle , not the sausage . So that 's what we 're going to be talking about now . Turning features into benefits . We 'll think you 'll agree , after we 've been through the Covermaster Plan , it 's choc-a-bloc full of features , waiver of premium , escalating premium , insurability option , life cover , selective periods , bonuses , you name it , there 's hundreds of features of the plan . We 're going to look at how we can talk about them as benefits to the client . There 's two ways of doing it . Er , the first , the most straightforward way is to name the feature , if you want to briefly describe it if it 's appropriate , and I mean briefly , then use a link phrase like what this means to you and come out with a benefits statement , something that the client can relate to , and the final piece in the jigsaw is to ask the client how he feels about it . What does he think ? How do you feel ? Erm , let's take waiver of premium , and go through that process . Andrew , is there a feature in this plan called waiver of premium , what these means to you is that if you 're off ill for a long period of time , through accident , ill-health , whatever , Abbey will actually still pay them for you , until you 're well again . How do you feel about that ?
[JK8PSUNK]
It sounds good .
[PS4AS]
It sounds great . Yes , nice and simple . Do n't go into all the technical details without er , six months er , payable until you return to work , reach sixty or die , payable for by reduced allocation to the units according the age and sex , etcetera , etcetera , and tell him what it does for him . In the Covermaster Plan , Andrew , there 's something called waiver of premium , what this means to you is that if you 're off work through illness for a long period of time , Abbey 's going to pay the premiums for you . How do you feel about that ? Great , I 'll have that , I 'll have two in fact , yes ? Keep it short , keep it simple . , keep it simple . It 's stupid [UNCLEAR] , but having said , yes , remember that . Now there 's another way of doing it , which done well is more powerful . But you have to think about it and it comes with practice , which as you obviously sell more and more of these plans , most of which have got waiver of premium . First of all what you do is disturb the client , or put another way , you create a problem , and then you solve it , with a feature , and then you ask , what do you think , how do you feel ? . If I take the same example , waiver of premium , erm , and I 'm relating to knowledge that I will have got through the plan your future document , if I use Andrew again if I may , if I say to you , Andrew , erm , you explained earlier that erm , if you 're off work through ill-health , your employer will actually pay you for six months , and then it stops . That 's true is n't it , yes ? Can you see that maybe , if at some time in the future , you do have er , some bad health , or perhaps get involved in an accident , that after a period of time , it might be difficult to actually find the money to pay for this plan we 're establishing tonight ?
[JK8PSUNK]
yes
[PS4AS]
Yes , well the good news is , that there 's actually something called waiver of premium on the plan , which looks after exactly the , looks after exactly that case . Yes . If you 're off work for a long time , Abbey 's going to pay the premiums for you , until you get well again . How do you like the idea of that ?
[JK8PSUNK]
It all sounds fine .
[PS4AS]
Yes , you disturb him . Some people will actually say , if I could add something to the plan that would cost you just a little bit more , which means that if you 're off work through illness , the company , Abbey will pay the premiums for you , would you be prepared to pay a bit more .
[JK8PSUNK]
No .
[PS4AS]
Most people would say yes , actually , if you put that way . But what do you say , well the good news is , it 's not going to cost you any more . It 's automatically included . So you can do that as well . But , if you do it that way , it 's often more powerful , because you 're relating to the client 's circumstances . Either way , keep it simple and get the client to tell you what he thinks . Are you happy with , with the idea and the way I put it across , yes ? Speak to me .
[JK8PSUNK]
Mhm , yes ,
[PS4AS]
Yes , good , because you 're going to have a go at it .
[JK8PSUNK]
Oh .
[PS4AS]
You might have known that was coming , might n't you ? What I want you to do is shout out as many features of the plan as you can think of , and then in a minute we 'll look at changing them into benefits . So , off you go .
[JK8PSUNK]
Escalating premiums .
[PS4AS]
Escalating premiums , yes .
[JK8PSUNK]
Unit linked .
[PS4AS]
Unit linking .
[JK8PSUNK]
Whole of life
[PS4AS]
Whole of life ,
[JK8PSUNK]
Erm ,
[PS4AS]
Come on , we 've been through all this
[JK8PSUNK]
Terminal illness .
[PS4AS]
Terminal illness benefit , yes .
[JK8PSUNK]
Waiver of premium .
[PS4AS]
Waiver of premium .
[JK8PSUNK]
Death benefit .
[PS4AS]
Death benefit , or , yes .
[JK8PSUNK]
Paid up
[PS4AS]
Sorry .
[JK8PSUNK]
Paid up
[PS4AS]
Paid up option . Right .
[JK8PSUNK]
Insurability
[PS4AS]
Insurability .
[JK8PSUNK]
Flexibility
[PS4AS]
Flexibility , yes , you can change levels of cover , selected periods .
[JK8PSUNK]
Possible option of surrender value at the end of
[PS4AS]
Yes , surrender value , and partial surrenders , yes ? I think we 've probably got enough now , how many have we got ? One , two , three , four , five , six , seven , eight , nine , ten , eleven , twelve , right . I 'm going to ask you as an individual to choose one . And just to put together a way that you can change it from a feature into a benefit , using either of those ways . Or you can just give yourself some bullet points because you do n't need to write out the and 's and the the 's and whatever . But we 'll ask you to select which one you 're going to go for , and as I know we 've got a room full of gentlemen , let's start with the ladies first . Kim , what would you like ?
[PS4AT]
Erm , waiver of premiums ,
[PS4AS]
Waiver of premiums , crafty . Er , Shirley ?
[PS4AS]
Flexibility
[PS4AS]
Flexibility , oh that was the one you gave me , yes . Er , Janet ?
[PS4AX]
Unit linking .
[PS4AS]
Unit linking . Sue ?
[PS4AW]
Selected period ,
[PS4AS]
Selected period , right , Andrew ?
[JK8PSUNK]
Erm , surrender value .
[PS4AS]
Surrender value , David ?
[PS4AT]
Whole of life . Gerald ?
[PS4AV]
I 'll take death benefits .
[PS4AS]
Death benefits , Philip ?
[PS4B0]
Escalating premium
[PS4AS]
Escalating premium , Ilias
[PS4B1]
Partial surrender
[PS4AS]
Partial surrender , John .
[PS4AU]
Oh , terrific ,
[PS4AS]
I have n't written that have we ?
[PS4AU]
Terminal illness .
[PS4AS]
Terminal illness . Right , everybody clear on what you 're going to do ? Spend a , a minute or so , putting your thoughts together , you can write it out if you want to , or you can just give you bullet points , what you 've chosen you 're going to change into a feature .
[JK8PSUNK]
[UNCLEAR]
[PS4AS]
If you start to go on to the other p , side of the page , start again . Keep it simple , yes ?
[JK8PSUNK]
[PS4AS]
And try and personalise it , I do n't mind if you refer to any information that you might have gathered during the evening , a bit like I did with Andrew . Yes , but assuming that those people were being paid at work for six months , and then there was a problem . You can give them children , you can give them anything you like to try and personalise it , but keep it simple . Right , are we ready ?
[JK8PSUNK]
No , not yet .
[PS4AS]
No , no , we do n't want any essays . Keep it simple
[JK8PSUNK]
You 're not giving him time off again , are you ? You know , I mean , all this freedom ?
[JK8PSUNK]
[UNCLEAR]
[PS4AS]
As you 're finishing off , let me explain what we 're going to do . Erm , I 'm going to ask , first of all , for a volunteer . Since you 're all going to have a go , you can [UNCLEAR] who 'd like to volunteer , so who would like to volunteer . Who 's going to volunteer , Gerald 's volunteered . Oh , we 've got two here . Gerald will start , er , and he will talk to you as if you were a potential client , but so he can actually relate it to somebody , he 'll choose one of you . One of your colleagues , anybody in the room , and if you , when you are the potential client , when you talk to Gerald or whoever 's talking to you , er , as if you 're a potential client , relate to everything he says . If he says you 've got six children and you work at the local factory , you do , yes ? You respond in kind . Erm , and he 'll finish it off by asking you what you think about it , and obviously you respond to that . So Gerald who 're you going to start , have as client .
[PS4AV]
I 'll have John .
[PS4AS]
John , right , off you go then . So Gerald to John , what are we talking about ?
[PS4AV]
Erm , death benefit .
[PS4AS]
Death benefit , right .
[PS4AV]
O K then , O K then John , er , looking at your erm , at your fact file , we see here that we 've actually got erm , twice the amount of your salary erm , for life cover , which your company which your company actually offers , offers you . O K ?
[PS4AU]
Yes .
[PS4AV]
O K , so at the moment , you 've got two times your salary erm , life cover . Let me ask you John , how would you actually feel if you were made redundant tomorrow ? How would your family actually er , benefit ?
[PS4AU]
Well because I 've only got the life cover , then er , that cover would disappear .
[PS4AV]
O K
[PS4AU]
Er , and I 'd have to start thinking about where I am again .
[PS4AV]
How do you actually feel about that ?
[PS4AU]
Not too happy .
[PS4AV]
Not too happy . O K , if I could actually show you a way where there 's not such a problem today , how would you feel then ?
[PS4AU]
It depends how much it cost .
[JK8PSUNK]
[PS4AS]
O K , that 's great , yes ? Related to him , worried him , and offered him a solution , yes . Good , so John it must be your turn now , so you can select anybody else in the room , and go through the same process .
[PS4AU]
Alright , erm , Janet .
[JK8PSUNK]
[PS4AS]
What , what are you talking about John ?
[PS4AU]
Oh , erm , terminal illness .
[PS4AS]
Terminal illness , right .
[PS4AU]
Janet , erm , obviously we 'd examine your circumstances from time to time , erm , but er , there are obviously perhaps areas that concern you . Erm , if you were diagnosed as having cancer , and was intending to be dead in nine months , what would your reaction be to that ?
[PS4AX]
How can I put that , keep me , how can I look after myself as I obviously wo n't be able to work , and look for ways about er , getting my house in order before I er , finally die .
[PS4AU]
Well yes , of course you would , that 's obviously quite a worry .
[PS4AX]
Mm , it is , yes .
[PS4AU]
Quite a concern . Well , how would you feel if I was to tell you that within the policy it was possible that the sum could be paid , it might even be paid up before death .
[PS4AX]
yes , like what ? What 's the test ?
[PS4AU]
Well if you had er , your illness and so on , and the other debts that you may have , erm , and bearing in mind that you actually only have the nine months , you might be a little bit more er , a bit luckier than that , but how about a holiday in Disneyland ?
[JK8PSUNK]
[PS4AX]
Gosh , that 's like going to hell is n't it ?
[PS4AU]
Well would that , that , that 's what , would that be of interest to you ?
[PS4AX]
No , but there 's plenty of things I would like to do , people I 'd like to see , yes , yes . There 's certainly things a bit of extra money would make enjoyable in the last few months .
[PS4AU]
Right well , I think I can show you a way on how to go about that .
[PS4AX]
How much more would it cost ?
[PS4AU]
Ah , well that depends on how much you want to spend .
[JK8PSUNK]
[PS4AS]
No , it 's not going to cost her any more , because it 's included in the plan , so it 's not going to include , so it 's not going to cost her any more
[PS4AU]
No it does n't
[PS4AS]
Good , well done . Well personalised . Yes , er , very good effort . Erm , is it , would it , it showed you not to put words in her mouth , but I mean , it was nice to talk about Disneyland .
[JK8PSUNK]
[PS4AS]
It brought a lovely humour to the situation , erm , but maybe to ask her what she 'd likely to do , like to do in those er , last er , nine months or so . Good . Well done , John . Janet ?
[PS4AX]
Oh , I wish I had n't chosen this particular one .
[PS4AS]
[PS4AX]
Can I ask , address another table ,
[PS4AS]
N , yes , anybody , yes .
[PS4AX]
Right , David I 'll talk to you .
[PS4AS]
About ? About ?
[PS4AX]
Erm , unit linking .
[PS4AS]
Unit linking . Right .
[PS4AX]
Right , David , you said you 'd been approached by another insurance company , er , I could obviously say , I recommended Abbey Life , and I 'm tied to that , but I actually joined because I think they 're a particularly good company , in that what , in the use they make of the money that I 'm [UNCLEAR] paying , actually goes , performs very well . And I 'll explain this a bit more . Erm , we , when we first came into the industry , erm , we brought in a totally new policy that the funds to provide the pensions and action , we put into unit trusts . You know , do you know anything about unit trusts ?
[PS4AT]
Not really , no
[PS4AX]
Well it goes into a pot , and it , it buys into different funds which are invested in different markets , erm , to give you some examples , erm , we can invest in property , we can invest in some securities , government securities , er , we invest in the Stock Exchange and we have managers who look after these funds , and they perform extremely well . And if you go and have a look at the tables , you find that Abbey Life actually makes your money grow faster than a lot of other insurance companies . And the benefits of this is that er , as you know , erm , inflation takes over , and we measure our spending power against that , five pounds in your pocket today , wo n't buy what tomorrow , what it bought this year , and next year , what it would have bought this year . So we have to keep ahead of that , because we 're planning the benefits for you , twenty or twenty five years ' time . So we have to make sure the money you pay to us , actually is going to grow so it gives you a very good return on that money in twenty five years ' time . So we put it into this pot and we invest it in as many funds and spread the money out , so if , if one fund does n't produce very much in return , another fund will , and so we in fact , get a better spread throughout the market , than you could do as an individual . I mean you could go out , and you could put a little bit of money in the building society , or the bank , or you could have a gamble on the Stock Exchange , but we have two advantages . We have erm , managers of these funds who have a lot of expertise , a lot of experience , we 've been going over thirty years now , and we 've grown extremely quickly because of the expertise of our managers . We give our expertise for nothing really . It does n't cost you any more , you just throw them in for free . And the other thing is you clearly get a good spread of the market , and we know that this method will produce erm , a return for you which will keep your spending power ahead of inflation . Is there anything you 'd like to ask me ?
[JK8PSUNK]
[JK8PSUNK]
[UNCLEAR]
[JK8PSUNK]
Can you please go through it again for me .
[PS4AX]
I must have had a death wish choosing that .
[PS4AS]
Janet that was a lovely , clear description . Erm , but , how could you have improved it ?
[PS4AX]
Well I would have liked him to participate more , but I did n't know how to lead him .
[PS4AS]
Yes , yes , you needed to involve him , erm ,
[JK8PSUNK]
[UNCLEAR]
[PS4AX]
yes , that 's my trouble . [UNCLEAR]
[PS4AS]
But , erm , [UNCLEAR] , it was too long was n't it ? It was too long , and you did n't involve the client . But I 've , I 've honestly got to say on your behalf , it was a lovely clear description of what happens as well , and there were some nice positive statements about Abbey er , and er , why unit linking is worked for Abbey , etcetera , so lots of it was absolutely great , but
[PS4AX]
You 've got to count your words when you 're playing the recorder .
[JK8PSUNK]
[PS4AX]
One thing I would say , it 's very difficult to put over , is to get over , [UNCLEAR] of the part you 've paid back
[PS4AS]
it is , it is You 've just , you 've just got to ask , ask his opinion , is it important to you that you get a return on the money that you invest with us , yes ? Or do you feel comfortable making decisions about where you 're investing your money , or would you be happy for somebody else to do it ? Either way you could offer him
[PS4AX]
Yes , I see , yes er , I said , I could have said if you had been given a hundred thousand pounds how , or fifty thousand pounds how would you invest it ?
[PS4AS]
Yes , if , if , if you can involve him more , but obviously this is a very nerve-racking situation , and er , the description was great , please
[PS4AX]
, yes , the description was a death wish thinking that was
[PS4AS]
Right , Philip
[PS4B0]
Escalating premium .
[PS4AS]
Escalating premiums , talking to ?
[PS4B0]
I think David , because he did n't answer Janet .
[PS4AS]
Right .
[JK8PSUNK]
[PS4B0]
Right , O K , here goes . David , just looking at your situation , I know you 're er , a young chap and you have a young family , and we 've er , discussing your existing circumstances and I can see that at the moment er , funds in the family budget are a little bit tight . If I could show you a way of keeping your premiums at an affordable level but still obtaining the li , the level of life cover that you need to be of [UNCLEAR] to your wife and your family , would , would that be of interest to you ?
[PS4AT]
Well it 's er , if it 's cheaper then yes .
[PS4B0]
Right , O K , well we have er , a feature in the er , in this particular policy which is er , full estimated
[PS4AS]
Stop , stop , you 've done it , just leave it
[PS4B0]
You know , quite a useful
[PS4AS]
No , no , no , just leave it . You did it very well , you 're in danger of talking yourself out of it . You needed to stop there because he did it very well , did n't he ? He personalised it , he told him exactly the benefit of escalating premiums , and he could n't say anything other than yes , because it was what he wanted . But that was very good . Very good .
[JK8PSUNK]
[PS4AS]
That 's the hardest part . Right , David ?
[PS4AT]
Well I 'll go over the other side , Andrew . [UNCLEAR]
[PS4AS]
Andrew , right .
[PS4AS]
Presumably . Erm , Andrew , er , I , I find that earlier on the , the only life cover you 've really got is one that you took out a few years ago , a very small one , and you took that out for a set number of years . So you took that out when you were twenty , and I believe it 's er , finishing when you 're fifty .
[JK8PSUNK]
Yes , that 's right .
[PS4AT]
So you 've got , after that you 've got nothing . There 's nothing coming after
[JK8PSUNK]
Nothing at all
[PS4AT]
How do you feel about that ? About all that , all those premiums you 've paid and you 're fifty one , and all of a sudden you 've got nothing at the end of it ?
[JK8PSUNK]
I ca n't say I 've ever worried about it , I just thought I 'd look at it when I got there .
[PS4AT]
Mm , so what if could erm , could come up with a policy , that you pay your premiums in , but it covers you for the whole of your life . So that no matter when you die , whether you 're a hundred and twenty or whatever , you can get the sum that you 've assured , well that wo n't help you , but your dependents will . Would that be of interest to you ?
[JK8PSUNK]
It would yes .
[PS4AS]
Yes , good . Er , one good example , as cited er , er , a term policy , if you could n't cite one that he had himself , you could cite examples so that people know about it . A little bit of a tendency to talk too much about it though . Yes , keep it bit shorter and simpler , but , just the right way of going about it to illustrate the point . How would you feel if you 'd been paying this money for ten years and then you lived , you lived after than , and you got nothing for it basically . We 're talking the whole of life . Good . Erm , Andrew ?
[JK8PSUNK]
Erm , I 'll look at Ilias .
[PS4AS]
Right .
[JK8PSUNK]
Right , erm , as you 've heard , this policy is basically for your protection , but it does over a number of years , acquire a bit of savings . Obviously , th , there is four or five years there 's nothing to speak of , but after that it does acquire more . So like yourself , you 've got a daughter , who perhaps fifteen , twenty years ' time , will be getting married , at which point the policy could be surrendered to put towards the cost of the wedding . Or when you retire , it could be used as a lump sum to set yourself up initially for your retirement , so how would you feel about that ?
[PS4B1]
Yes , I would be in trouble .
[JK8PSUNK]
you 'd have more savings .
[PS4AS]
Yes , yes , good . Good , because you set it out , as as , er , you gave a scenario where the money would be useful to the fu , the future , so that was , that was good . Erm , you could have got to the close a little bit earlier , but then it , I think you were just finding your words , that was good , well done . You related it directly to Ilias . Ilias , who 're you going to talk to ?
[PS4B1]
[UNCLEAR]
[PS4AS]
No it 's got to be somebody who has n't had a go , otherwise the system falls down , does n't it . Shirley , Kim , somebody close ?
[PS4B1]
Shirley , if sometime in your life er , you need money er , for example , er , you 're in when you 're a start of marriage , and you have mortgage , how will you go to [UNCLEAR] ?
[PS4AS]
Er , with difficulty .
[PS4B1]
Well in er , this policy any time if you want to surrender so if you need er , some of the money , you can get that money or [UNCLEAR] any time .
[PS4AS]
Will it affect my life cover then ?
[PS4B1]
yes .
[PS4AS]
O K , that , that was , that was a good er , it was a good setting the scene , because you related it to Shirley . Shirley came up with a stat , with a question , which is a very important question , will if affect my life cover ? Obviously it depends how much you take out . But if you start talking about taking some of the cash from the fund , you 've got to tell the clients it could affect the cover that they 've got , because it is n't a savings policy . But it 's a bonus is n't it , because they 've had all this protection on this [UNCLEAR] and they 've still got some cash building up . O K , good . Shirley ?
[PS4AS]
I 'll go with [UNCLEAR] . Right so if we pay you by five yearly [UNCLEAR] value in three months , and invest for initially life cover of twenty thousand , and that 's O K for now . And we take you three years along the line , so your husband dies , and you 've now got a young child . Do you think twenty thousand is going to be adequate .
[PS4AW]
No it probably would n't be .
[PS4AS]
Well this policy is actually flexible , you can actually if you do have children , you can then increase the life cover .
[PS4AW]
That 's exactly what we want .
[PS4AS]
Well done Sue , you actually stopped her finishing it .
[PS4AW]
Oh
[PS4AS]
You did it , you did it very well , yes , but you needed , I know you were going to , you needed to say at the end , is this important to you , or is this something you would like on your policy . Good , well done , Shirley . So Sue , it must be you , to
[PS4AW]
Who 's left ?
[PS4AS]
Kim ? Kim , I think , is it ?
[PS4AW]
Right , Kim , erm , we talked , we talked earlier about life cover er , on death , on the death of your husband . You actually have three children under the age of seven , and if your husband died while they were still young , still in education , heaven forbid , but these things still do happen , it might be that you think that you would need more cover at that point in time , than later on , maybe when the children have left home . Would it be fair to say that that 's a good statement to make ?
[PS4AT]
Yes , it would be , yes .
[PS4AW]
How would you feel if you were able to designate more life cover for a selected period of your choice , er , and then , maybe alter , er , the cover later on , so that you can have higher cover at certain points in your life , to cover these critical things , like your children 's education , while they 're growing up erm , at any point in the future . That 's it .
[PS4AS]
Good , well done Sue . Erm , yes , selected periods . Well presented , well personalised , did they have to finish it ?
[PS4AW]
No
[PS4AS]
Yes , before you started repeating . It 's very difficult to keep it simple , it really is . I mean , I know Gerald went first , and I know he 's been in the business a long while , but he actually managed to say it all in about three sentences . That 's experience , but that , that 's what we 're aiming to a , er , achieve . Kim , last but not least , it 's to Gerald , [UNCLEAR]
[PS4AT]
Hello
[JK8PSUNK]
[PS4AS]
That was nice and short and simple , well done .
[PS4AT]
Do you want it or not ?
[JK8PSUNK]
[PS4AS]
That 's it , that 's it .
[PS4AV]
Do I get a waiver of premiums with it ?
[JK8PSUNK]
[PS4AS]
Lovely
[PS4AT]
You 've put me completely off , now .
[JK8PSUNK]
[PS4AT]
I knew I 'd got kids written down here for a reason .
[JK8PSUNK]
[PS4AT]
Even started whether there 's not two extra , but it costs more .
[JK8PSUNK]
[PS4AT]
We were talking earlier , and I understand you liked to ride at the weekends , and you 're often competing on your horse , er , ha , if you were to have a fall , and erm , you had a back injury , or erm , you sustained an injury that would you keep you from work for a substantial amount of time , er , how would you feel , would you be able to pay your premiums ? Would it be a problem to you ?
[PS4AV]
Well , not really , not to begin with , because I get erm , sick pay from work , I get that for six months .
[PS4AT]
But if it 's an on-going problem that , would possibly keep from work , let's say for a year .
[PS4AV]
Yes , then it would be a problem .
[PS4AT]
Right , well we , we have something which would actually solve that , erm , which would be of benefit to you , and would actually cut in at the six month period , and would continue paying your policy and your premiums , until your retirement age if necessary . Would that be of interest to you ?
[PS4AV]
Oh , yes , yes .
[PS4AS]
Good , well done , Kim . You were n't put off by all the bawdry earlier , well done . In fact , well done everybody , because it sounds a simple thing to do . When we actually got down to it , it was n't quite as simple was it , and I think every one of you were personalising it really well , and making an excellent start . Good . That actually brings us to the end of the Covermaster product . We 've spent nearly all day , talking about something what you knew about . Well hopefully you 've found it of benefit . What we 're now going to look at is living assurance . Now , so we can actually distinguish between the two policies , which are very similar in lots of ways , we 're going to start again by looking at a video . Now this video , erm , was compiled by Dr. Marius Bernard . Dr. Christian Bernard , the South African surgeon , heart surgeon , his brother . He was talking at the Life Assurance Association er , convention in London I think it 's er , three year ago now , in er , nineteen ninety , it must be ninety one , because I went on a course then . Erm , and he can tell you better than me , really the benefits of living assurance . So I 'd like you to , as you did this morning please , move your chairs all round , close the blinds , and er , it 's the , the second video of the day . If you want to , it 's going to last erm , about half an hour .
[PS4AU]
Right , fine .
[JK8PSUNK]
[UNCLEAR]
[PS4AS]
Have you heard of Dr. er ?
[JK8PSUNK]
Yes
[PS4AS]
Oh , right , well .
[JK8PSUNK]
Do I have to [UNCLEAR] things to talk about it , [UNCLEAR]
[PS4AS]
Yes , yes , yes . Oh , by the way , you 've got to work through this video . You know your workbooks that you 've got , he 's actually asking you a few questions relating to the statistics that er , Dr. Bernard 's going to mention , so can I ask you to get your workbooks and a pen , just so that you can jot down some of the information . You have to listen quite carefully .
[JK8PSUNK]
What do you mean workbooks ?
[PS4AS]
I mean workbooks .
[JK8PSUNK]
[UNCLEAR]
[JK8PSUNK]
Oh .
[PS4AS]
Yes , these things .
[JK8PSUNK]
I thought those were for [UNCLEAR]
[JK8PSUNK]
[UNCLEAR]
[PS4AS]
Everyone found their 's .
[JK8PSUNK]
No
[JK8PSUNK]
[UNCLEAR]
[PS4AS]
They were given out yesterday , Philip .
[PS4B0]
Were they ? Oh , how silly of me .
[JK8PSUNK]
[UNCLEAR]
[JK8PSUNK]
Again I did n't like to say that ,
[PS4AS]
Has he been hassling you ?
[JK8PSUNK]
Yes .
[JK8PSUNK]
[UNCLEAR]
[PS4AS]
[UNCLEAR]
[JK8PSUNK]
Page ten .
[JK8PSUNK]
Please welcome Dr. Marius Bernard .
[PS4AV]
Good afternoon , ladies and gentlemen , er , looking at you and listening to you , it 's certainly different to the operating rooms that one 's used to working in . Er , do n't feel a bit disappointed that during my presentation I 'll be expecting to this hospital , I 'll take you to the operating room , er [UNCLEAR]
[JK8PSUNK]
Please [UNCLEAR] ,
[JK8PSUNK]
Sorry
[PS4AV]
But certainly it 's very real to what we 're going to talk about today
[JK8PSUNK]
That 's O K
[PS4AV]
I 'd also like to say , Mr. Chairman , that er , I did n't recognise the hospital you said , where we did this operation , , erm , if you want to , see me afterwards , I 'll tell you that you take [UNCLEAR] at the [UNCLEAR] hospital . But you 've got to be an erudite [UNCLEAR] to be able to understand that . Ladies and gentleman , I 'm very honoured really indeed , it 's a privilege to be part of being here today , as part of the insurance industry . I believe very gratefully , and very sincerely about a great tomorrow , and my profession is striving to bring that to the health of peoples and nations . I 've been very fortunate to be able to become part of your industry , to see part of your contribution to my patients for the great tomorrow . I 'm not an insurance man , I 'm a doctor . I could n't care about the insurance companies , although I love your [UNCLEAR] where I choose . I can care about my patients , and I sincerely hope that you will make it possible for my patients when their diagnosis is made , to have that knowledge that financially , he has a great tomorrow . I believe that insurance is an honest attempt to provide financial security and independence when you need it most . And you really need it most when your health starts failing . When the diagnosis of the illness is made , think around your clients and your relatives , because that opportunity to generate the financial security and the friends you need , is threatened by the guilt . Now where does the doctor come into this ? I want to go back the year , nineteen hundred , and let's hear the causes of death , because when many infectives caused by viruses and the bacteria , the life expectancy for a male was fifty , and for a women was fifty four . If I was born in that period , I would be dead already , and you would n't need to listen to me [UNCLEAR] But if you look at this as far as the medical profession and the insurance profession need each other , what happened to these people when they develop an infective condition ? Pneumonia for example . It was very easy , they either died , four or five days later , very cheaply it used to cost ten pounds to die . It was a very cheap affair . Or they recovered , but what happened ? When they recovered , there was no destruction of the heart , lungs and they could go back and work , a young person , as if they 'd never been ill . But if they died , there was a very young family , a young wife , needing financial independence that was given to them by you , with a life insurance policy . Really it 's a death insurance policy . That 's what it is . Now the medical profession responded to this state of affairs , and created antibiotics , I can assure you today , that if you die of pneumonia , you can sue your doctor , with the greatest of thought that you 'll get paid . And they 've developed vaccination and immunization , so the infective conditions are no longer causes of death . You see now that the most common cause of death is what they call the [UNCLEAR] of diseases resulting from degenerate lifestyles , and I 'm very proud [UNCLEAR] and I 'm very proud to tell you that although I come from South Africa , and you might not think I 'm very intelligent , as you sit here , down here and there , I can sign your death certificate already . Fifty percent of you will die of heart attacks , twenty plus will die of cancer , and ten percent will die of strokes . And it 's getting worse . Why does this happen . Longer life expectancy . Your life expectancy as a male today is seventy four years , and for the females of the species , and we [UNCLEAR] love them , your life expectancy is eighty years . Is n't it amazing ? So what we doctors gave you , you developed this lifestyle . You should thank your doctor . Thank you for curing my pneumonia and [UNCLEAR] , now I 'm going to abuse my body . I 'm going to smoke too much , I 'm going to smoke too much , I 'm going to drink too much , I 'm not going to do enough exercise , I 'm going to put on too much weight , I 'm going to stress myself too much , and I can talk to you five days about those conditions . If you 're going to [UNCLEAR] insurance , think then , just think with me back , have you seen that ? You remember this man ? He thinks he 's thin , for a Merry Christmas , test the health of your eggs . You could just as well say the same for him , death in a box , but it is a , and now the next advert , with him now , the next advert is even better . More doctors smoke Camels than any other cigarette . Can you just imagine me advertising that today . I would be shot before dawn . Now , what 's happened because of this debilitative lifestyle . It has developed two types of condition . The wonderful arteriosclerosis , and the wonderful cancer . Who will get this arteriosclerosis , as you sit here , let me tell you again . If you just born you 're free , at the age of five , fifteen percent is attacked , at the age of eight , it 's forty percent , and eight of you over forty , congratulations , you 're all got arteriosclerosis . All of you . Now what is arteriosclerosis ? It 's a deposit in the arteries of fat . It looks the English breakfast fixing it up for , that 's what and if you , if you want to look at an X-ray , you will see that the arteries of the body , those are the arteries , bring the blood supply is blocked with arteriosclerosis , and there you can see the English breakfast , the yolk of egg , the butter and all these things that are in there , causing a blockage of the artery , not enough to that muscle , and a heart attack , death and all these unbelievable things , that give me a little bit of income . , . I had a very serious patient er , the other day , and I treated him and gave him six months to live , but at the end of six months , he did n't pay his account , so I gave him another six months . , .
[JK8PSUNK]
[PS4AV]
Now God in his wisdom unfortunately , unfortunately blocked the most important arteries of the body . Not the arteries to your toenails or the tip of your nose , but the arteries to what we call the vital organs . The coronary arteries , heart , heart attack . Carotid arteries , stroke . Aorta , aortic surge , renal arteries , free kidney failure , these are what blocked arteries can do . Can you hear the dread disease conditions entry there . Now what happens when your arteries get blocked ? is that you get a pain in the chest , a piece of your heart dies , if you have a heart attack , or the whole heart dies off and you have death . One of the easiest diagnoses in my profession . There are more than a hundred and fifty thousand heart attacks in your country every year . That 's not true , do n't you believe it . It 's more than three hundred th , three hundred thousand . That was the slide of approximately eight years ago . It 's a galloping form of death , due to modern lifestyles , [UNCLEAR] . That 's the brain , that 's a stroke , the brain is a very sensitive part of the body , and as you know in this very topic of debate , if the brain do n't get enough blood , er , for three minutes , you 've got permanent brain damage and the only occupation that 's suitable is that of a politician . , . There are more than a hundred thousand stroke victims in your country every year . Kidney disease , ten thousand new , five thousan , ten thousand total , five hundred new cases . That 's a beautiful slide of carcinoma of the rectum , just to give the r , the carcinomas , [UNCLEAR] , especially for you , carcinoma of the lung , as we say in Africaan 's , weaker , that 's nice . That 's what you get from smoking . There are more than two hundred and forty thousand people in the United States who die of cancer every year . And that 's the quickest [UNCLEAR] hospital , because we 've responded again in the medical profession . Do what you have done , abusing your bodies . We said if you want to abuse your bodies , we 're going to take every bloody pound you have in your pocket away with you , with the most modern medical treatment , bowels . Heart-lung machines , that a machine that I can use , when you 're put in a heart-lung machine , I stop this machine , I keep this machine going , and I take out your heart , and your , your heart , I drop it on the floor , pick it up , wash in Parmolive soap , and put it back again . All these things I can do , to prevent death . Young babies , baby are there days of care , and look what we get . Is n't it amazing . Are you going to be sure that that money is available to provide for this . Is n't that beautiful ? Is n't that the most beautiful photo you 've ever seen in your life . No applause , no cheers , you know that 's made to feel here . This is , it 's your heart , ladies and gentlemen , with a normal heart muscle . Now when you abuse your bodies , and you get the coronary artery disease , what happens ? That heart becomes looking like that . It looks like it 's been on the M twenty five on a Friday night , and every tyre 's been over it . . Now that normal heart you saw , you saw that normal heart , I would ask you if it was in a twenty five four year old man , do you think that man is alive or dead ? Yes , he 's dead , he was killed in a motor car accident . And the heart of that that 's been on the M twenty five , is the patient alive or dead ? Twenty two years later , and there he spends , with the [UNCLEAR] , was our eight heart transplant patient . Sam says before he had his heart attacks , he had five six , I 'll have to change the story .
[PS4AV]
Twenty two years later , and there he spends , with the [UNCLEAR] he was our eighth heart transplant patient . Sam says before he had his heart attacks , he had five , six , I 'll have to change the story , he has a heart transplant , he developed diabetes , and he 's later amputated . Do you know when he comes down here , he complains about this . It 's like my [UNCLEAR] when he was eighty , they asked him how do you feel ? If I think of the alternative , I feel bloody well . , But , but it is very serious . He has one complaint every time he comes and sees us . What 's that ? Money . This operation and this threat to his health , has created a lack of possible to regenerate the money needed for him , and his financial independence has been threatened . You from the insurance industry , twenty five years after heart attacks , when he should have died , despite the modern medicine . After twenty three years , after the heart transplant , eight years after osmosis [UNCLEAR] , I want to give you his secret , guess what he 's got . He 's got a life insurance policy . It 's amazing . And that life insurance policy to him , is of no help . He needed something new , because we in the medical profession , in responding to your new diseases , from the abuse of your body , have created the situation that you 've got to insure yourself , that financially independence , not because you 're going to die , but because you 're going to live . And that is the way that we develop the concept of great living insurance . Creating these insurance to die is the number one need for financial independence , because we as doctors are going to spread the news with our modern lifestyles , because unlike the pneumonia patient you 're not going to recover and go back to work , unlike the , the heart transplant , as the heart transplant , or the heart attack or the cancer patient , maybe at our expense . Invest money . Give you an example . If any of the you , I challenge to go to your bank manager tomorrow , and say to him , I 've had a heart attack , I 'm not going to pay my loan of a hundred thousand pounds . Do you know what happens ? He 'll get a heart attack , that 's what happens . . That 's just the things we do , with the coronary arteries , we do coronary artery by- passes , I can , I can sew like any woman , I can darn your socks , we stick the veins on and we re-establish the the heart going a bit faster . Now , three hundred thousand men and women suffer heart attacks each year in your country , but many will survive . Think about the word survive , before I tell you , what does that mean , survive ? We as doctors say , we 're so bloody wonderful , you know we 're very important . We 're so wonderful , our patients survive . If he drops dead when he gets out of hospital , we no longer care about him , as long as he survived . Who is going to survive . Seventy seven percent will survive five years , fifty eight percent survive ten years , and forty seven survive thirty years , and we are improving . We are the miracle men have decided that you 're not allowed to die . Let us promise you , you are not allowed to die any more , we are going to s , to improve our treatment , and you 're going to survive , but with daily , increasing threat to that financial dependence that you 've so keenly want , that you want for your loved ones . Do you want see your [UNCLEAR] ? Is n't that beautiful ? Have you seen anything like that ? That 's the lungs . I wish I could talk longer because I 'd like to tell you about the lungs , but er , time 's still . A twenty four year old woman came to see me for treatment on the ward , a smoker . I had to investigate her , and I diagnosed that she had cancer of the lungs . There 's someone out already . She came to see me a year later , total loss of weight , total short of breath , hardly [UNCLEAR] , she 's struggling to keep body and soul together . She says to me , I can not continue , she 's dead already , I will never forget her face , never . Now what would have happened if her broker came to this convention and heard about their disease , and two years ago sold her a [UNCLEAR] disease policy , that would have given her two hundred thousand pounds , on the diagnosis of the disease . That little girl had to struggle on because the flat rent had to be paid , she had to struggle on because she had a car , kids had to go to school , until she died . Now if she had two hundred thousand pounds , what would it have given her . She could have stopped working . She could have spent quality time with her children .
[JK8PSUNK]
[PS4AV]
If it happens to me , I will say , I 'll take that two hundred thousand , and go to Hollywood , and spend the night with Madonna , that would have been my choice . It would have been Madonna 's choice too by the way . , . Thirty percent of all people in your country , your [UNCLEAR] country , suffer from a condition called cancer , and ninety percent will be life threatening . How long they survive , if you look at my age , I 'm a male , thirty five , forty seven percent , forty percent will survive at least er , five years . If you look at the Chairman , here this afternoon , sixty four , twenty nine percent will survive . But on the whole , of the diagnoses of cancers made today , more than fifty percent will survive more than five years . Have you ever seen a person with cancer of the lung , cancer of the stomach ? Have you seen what their survival means ? It 's a slow progression to unableness to perform their daily needs especially to start with the threat to the person , of opportunities to greater income . Only crystal [UNCLEAR] will pay up on the diagnosis , and make it possible . Like Samuel [ANONYMIZATION] stated , [UNCLEAR] in a woman suffered strokes , seventy eight percent will survive at least one , have you ever seen a person with a stroke ? Have you ever seen a person with a stroke ? It 's not only the patient , who lies there paralysed and unable to talk , and unable to move , it involves his whole family . His whole family is locked into caring , working wives have to give up work to come and help them . There 's a clue , there 's a clue for the need of [UNCLEAR] insurance , not because you 're going to die , but because you 're going to live , and that is the reason why I 'm prepared to cross this world . I do n't ask you to sell better [UNCLEAR] , ladies and gentlemen , I do n't ask you to sell itself for certain companies , I 'd like you to , but I do n't . What I ask you and I insist , that for a great tomorrow for my patients , you tell them about it . Just tell them about this product , what it can do , and I assure you of the results . You never have to tell a person who 's had a heart attack , you never need to tell a woman when her husband has a stroke , I have to . Help me , give me that great tomorrow , by enough financial security . Look at what we 've done to each other , er , to ourselves , in the young , in nineteen hundred , eight percent of people had heart attacks , six percent strokes , cancer , four percent , total eighteen percent . And now , with the way that the human [UNCLEAR] take it to the medical profession for giving them a longer life expectancy , thirty percent of people are diseased . Twenty one cancer , and nine percent strokes . It varies from cancer , in world statistics . You must watch our statistics . In America , it 's been shown that statistically , that men have got more children than women . So be very careful with statistics . This is the figure of your country , I think are very significant , of the reduction of death rates of people , are getting higher and higher , and the time that 's spent through illness off work , and there 's an increase in survival after the diagnosis of the dread disease . Ladies and gentlemen , that 's why I 'm very proud . I 've been very lucky , I 'm not being charitable , but I 've a lot of luck . I 've been lucky to be able to launch the first concept of dread disease insurance , in South Africa you might have heard about us . It 's called living assurance , launched August ninety eight , for Standard Life Assurance and Wallace [ANONYMIZATION] . When we changed the concept of insurance totally , and we have said that the sum assured will be paid out on the diagnosis of the disease , and not on death or anything else . We then created the first product which heart attacks , strokes , cancers and certain coronary artery disease , which I can see . I believe you can see why , first of it it 's most common , and second to coronary artery disease , I 'm a cardiac surgeon , I want my piece of the action too , so we keep [UNCLEAR] as well . We have a lot of privacies , and a lot of things until we change them , and you know why we changed it , because you went out and saw your clients and told them products and they reported you , and you came back and said but what about this , what about this ? And we responded to the need that you , and I do n't think you will ever appreciate it , I can not thank you enough for your input in this product of yours . You made it what it is . Until we increase it by surgery for disease of aorta , renal failure , therapy for blindness , replacement of a heart valve and organ transplant .
[JK8PSUNK]
[PS4AV]
And then the danger of lungs and [UNCLEAR] in which I do quite well , and you can say to us , and we earn it . Multiple sclerosis and any terminal illness . Why any terminal illness ? Just in case , somebody escape that net of dread diseases The lucky ones . If your doctors says that you 're going die within twelve months , we will accept it as a diagnosis of a critical illness . Erm , we are getting through on that , are you going to suggest on it ? We are going to improve and produce what I believe the optimum product eventually . And you know it , it 's amazing how since my involvement for the last two years in Great Britain , all the problems that you have with critical illness , all the problems . All those things about definitions , standardisation and all that . Do you know what , they said it 's not justified , tell that to the young farmer of thirty four with a dread disease , his policy when we pay him two hundred thousand pounds in his hospital bed . Say to him it 's not justified on his policy , I want the money back . It seems that it is not clarification of definition , tell that to the woman who looked for two , thirteen years after a stroke husband and they had to wait for his death , that you did n't sell him a dread disease policy because there is not clarification of definition . Tell the young mother whose child has just received fifteen thousand pounds after the diagnosis of leukaemia , that you should n't have filled the policy because the contexts where not standardised . No ladies and gentlemen , dread disease insurance is a success because it 's needed today and tomorrow , and it works . What does it do ? and then I 'll finish and I 'll summarise . If you want me to come back , I 'll speak for another five hours . What does it do ? Think about it very careful , it attains to the threat of loss of own ability . The person has his financial independence threatened by disease , is helped by the dread disease insurance . Compare it with life insurance , death insurance . It accelerates the pay-out by one day , two days , ten days , thirty days , of the death plan , because it pays out on the condition , that 's going to be the cause of the death , and not on the death . So it accelerates death . So death insurance , dread disease insurance , [UNCLEAR] , go to much , will do it far better , just quicker . That 's all we can do . Inability to work , permanent disability , it accelerates permanent disability because ninety five percent of the conditions that cause the disability will pay out years before you have a disability . I am would claim now for a man who has a disability claim . His accountant said that my stroke is weakening his left arm , he 's right-handed . He can speak with a bit of slurring , so what . He says he 's got loss of memory , without a stroke , I have that as well , so that makes no difference . He comes and he wants disability . He is not disabled , and yet he makes like he never would have the diagnosis of disability recognised . But dread disease insurance recognised his condition long before disability , and finally what does the dread disease insurance do . It does something even more wonderful , it accelerates critical illness diagnosis by paying out on the disabling condition like loss of limb , where it creates a situation where the permanent person get paid out even before he has a critical condition , because that condition threatens his chances of paying his daily needs due to financial independence . And to continue ladies and gentlemen , I do n't think you know where I come from , I 've got illiterate [UNCLEAR] parents , you might say that you can see that . My father was a missionary had come from a dusty little town in South Africa , I 've got many wonderful experiences in my life , I 've had experience of heart transplant . I 've the experience of being in a political party that says one man , one vote , release Mandela , and all these things that we were nearly shot for . Today they let prisoners of South Africa say it , it 's amazing . But I was also involved in an insurance policy that has been made available for my patients , when they have that worst moment in their lives , you 've got cancer , you 've had a stroke , to know that in this threat , to what 's going to happen to them , they at least have financial independence . I believe that creates the great tomorrow . Life is not only quantity , it 's quality as well . You have that choice , that chance to do that for my patients and I tell you , to be with you , to be part of you , I 'm as a [UNCLEAR] , I learn for you , I think of you , and I can just tell you , I wish you all the best , but I wo n't forget your responsibility to help the medical profession to make , with the work they do for a better tomorrow possible , due to your work , your hard attempts to give that financial ability through the best insurance policies on the market today . God bless you , everything of the best , thank you very much .
[PS4AS]
Would you like to take a five minute stretch whilst [UNCLEAR] before we continue . Right .