Example 1: Part-Timers at McDonald's

What to say:

“Hi _____, my name is _______. I handle the benefits for the McDonald’s corporation.”

“You may remember from orientation that you have access to benefits. Do you remember going over this?”

“My job is to present your options to you and explain how they work. You can choose one, two, both, or neither plans. I’m here to help enroll you on the plans you find are a good fit for you.”

“Do you have health insurance?”

“Good news, the plans we offer can work whether you have health insurance or not.”

“There are two options:

The Accident Health Protection plan and

Life Insurance

“I’ll go over each in detail”

1.    Accident

This plan is designed to pay you cash if you get injured. (Because you’re young), if you went to a doctor, chances are it’ll be because of an accidental injury.

If you have MediCal or some other insurance, that plan is going to pay a lot of the doctor or hospital bills. But they won’t pay for everything.

If you don’t have anything, then you’re on the hook for the entire bill. You’ll probably be debating whether an injury is worth going to see a doctor for.

Has it ever happened to you that you hurt yourself, but you were like, “Well, it hurts, but I’ll just walk it off.” Because you tell yourself it’s not bad enough to take off work, right? You need the money.

Well, this plan is going to protect you in two ways: First, it will provide money to cover the medical expenses you might have, and Second, it will provide money to cover the time you need to take off work to get better.

(Open the Accident Plan)

·      If you get hurt, just for going to see the doctor, clinic, urgent care, ER, or hospital, you get paid $120.

·      If it’s something serious, and you go to the hospital for 18 hours or more, you get $1000. And $200 more if you have an ambulance ride.

·      You also get a fixed amount of money for the type of injury you get. Like for a laceration, you’ll get $35 per stitch. For a fracture, you’ll get $1250 for a big bone, like the leg, but less for your pinky. And God forbid you get paralyzed or fall into a coma, you’ll get $12,500.

·      This plan also comes with a built-in Life Insurance policy. DO YOU HAVE LIFE INSURANCE?

·      Well, as you may or may not know, the average cost of a funeral and burial is $15,000.

·      The good news is this plan has a $40,000 accidental death benefit.

(Transition to…)

2.    Life Insurance

·      If you decide you ONLY want life insurance, you have the option of getting one of our two life-insurance-only products:

·      TERM LIFE pays upon death for accidents OR illnesses.

·      A basic 10-year plan to cover just-in-case death-and-burial costs, of $25,000, is extremely cheap.

·      If you’re under 30, this will cost you about $3 per paycheck, or about $1.50 a week. That’s less than a cup of coffee.

·      It’s a responsible thing to have so that – if the unthinkable should happen – your family and loved ones aren’t only mourning your loss, they are also facing a huge $ bill.

·      WHOLE LIFE is actually a very popular product because it not only covers your death and burial, but it grows in cash value over time.

·      You pay a little more, but that money you put in doesn’t go away.

·      After three years, it begins to grow in cash value, and you can borrow against it for a car, or a house. Or you can surrender it to obtain back some of the cash value.

·      Whole Life never cancels, so you’ll have it at the same rate for your entire life.

PRE-CLOSE

These benefits are deducted directly from your paycheck.

All of these plans are portable. So if you leave McDonald’s, you can keep your insurance at the same rate. You’ll just convert it to a credit card or bank draft. Your Accident Plan is also pre-tax, so you’re saving a little money on the cost of the plan.

The Accident Health Protection Plan comes in two levels. The top level (I just described) costs $14.70 per biweekly paycheck. The base plan costs $12.06. The lower plans cover everything treatment I described, but the payouts are just a little less.

CLOSING

Based on what I’ve described, what plan would you say is the biggest priority to you?

None of this makes sense unless it’s affordable to you.

OPTIONAL:

Most people will try to keep it to about 1-2 hours’ worth of wages per week. (So if you make $12 per hour, you shouldn’t spend more than $18-20 per week, or $40 per biweekly paycheck.)

Do you have an amount in mind that you’d like to keep it under?

Let’s find a way to do that…