Tony Polk
Lincoln, NE (USA)
Role(s):
Founder/Owner/Principal
A&P Insurance, Inc.
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Startup
Location:
Lincoln
Industry:
Insurance
Year Founded:
2014
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Sole Proprietorship
Description:
I re-entered the life insurance insurance industry a few years ago and now have my own independent General Agency contracted directly with carriers that each have specialties for my clients. I am able to recruit agents as 1099 affiliates or hire agents directly as I perfect marketing systems that are scalable.
My primary niche is Social Security Optimization. According to the Social Security Administration, it is paying more than $325,000 in retirement benefits to the average retired worker (over their lifetime). This is a large retirement asset that most Baby Boomers have not planned for, do not know how to maximize, and frankly don't even realize exists. Unfortunately, more than 45% of retirees choose to start receiving retirement benefits at 62. These benefits are subject to income tax if the retiree continues working AND could be 76% higher if the retiree waits until 70 to start drawing. Most retirees have gotten their advice on drawing Social Security from friends, advertisements, relatives, or other generally non qualified sources. More and more however, they are turning to their accountants.
CPA's typically do not want to make these recommendations. It means more liability and more professional education for them while monetizing this is not easy for them. The best way to reach these prospects is through CPA referrals. I have worked in the accounting industry and am familiar with its dynamics, concerns, and limitations. As a result, working on the best way to approach and work with accountants. Once this is fully developed and beta tested over the next 12 months, then the growth potential is enormous. Particularly since the Baby Boomers are expected to continue the large demographic shift in the US for the next 10 years.
As I improve my approach to and relationships with CPA's, I am continuing to market traditionally and grow my agency's life, annuity, and long term care clients.