Get Authentic with Marques Ogden
Get Authentic with Marques Ogden

Episode 49 · 1 month ago

Get Authentic with Marques Ogden- Howard and Sammy Kaye


Howard Kaye is passionate about helping people. His financial experience and credentials are impeccable. For decades, he has helped individuals and families create and preserve wealth through the innovative use of life insurance and annuities. As president of the Howard Kaye Insurance Agency, LLC. Howard uses extraordinary concepts to leverage and maximize assets in ways that will surprise and please even the most financially savvy individuals. Howard and his team have successfully created and preserved in excess of $1 billion of wealth.

Howard’s remarkable success in the industry stems from his ability to defy conventional wisdom and employ innovative strategies. He has created a niche market by being at the forefront of advancements in the life insurance and annuity industries. He has proven his leadership through critical thinking, as well as by avoiding outdated biases and misconceptions.

Howard comes by his wisdom through years of working with and being mentored by his father, Barry Kaye who is regarded as the father of the wealth creation and preservation industry. Howard served as President of Barry Kaye Associates for many years prior to taking over the reins from his father and building his own agency.

Today, Howard is joined by his son Sammy Kaye as a third generation continuing the legacy his grandfather started over 60 years ago

In this heartfelt interview, Howard and Sammy share their story of being a dynamite father and son team, in the life insurance business.  They also touch on how Howard’s dad was the foundational building block of their business.  Assuming you want to learn how to create wealth by using life insurance, this is an episode you don’t want to miss! Go to our website to see more great info on our podcast

I'm Ray Crockett, fourteen year NFL veteran and two times Super Bowl champion, and I want to talk to you about the Power Plus Mouth Cord. Everything in the NFL has changed, from the help us to the show to pass, to the need pass, you name it, it's all changed. Why to reduce injuries. Unlike the other mouthpieces, the Power Plus Mouth cord fits on the lower part of your mouth. That way you don't have any restrictions and talking and breathing, you can communicate. I'm Luke Rocha. I play Texas high school football. I'm currently playing defensive line at the collegiate level. I've used the Power Plus mouth guard for about three years now. I've been concussion free inside the safety aspect of it, I can communicating, breathe without new restrictions. The Power Plus Mouth cooard has been medically patent and medically proven to reduce concussions, also increase your strength, your stamina, and your endurance. And for that reason, I used the Power Plus mouth for it today when I work out. During my NFL career, one of the few changes I would have made, I would have worn the Power Plus Mouth score. I would highly recommend that any player on any level. Use the power plus mouth plus to find out more information, go to power plus moth flood dot com Power up with Powerfulus. Yea, hello everyone, well, Episode number fifty two of The Gift often with Marcus Show. I'm your host, Marcus Ogden and today we're joined by Howard and Sammy King of Kay Insurance from what bring him up to the stage. I want to think one of our amazing sponsors, PGP Advice repeet. They are a mergered acquisition brand days out of San Antonio, Texas, owned by Mr Jason Brown. Now I'm the to the stage. Howard is Sammy? How y'all doing today? Great marks, Thanks for having us look forward to it. Gentlemen, thanks for coming on. So before we can start with the interview, let's go Howard first. Is Sammy Howard? What does the word authenticity slash authentic being? To Howard? They will go to Sammy after that. Oh, very simply being true to yourself, being true to others, and uh living your your best dream and doing what is right for you and everyone else in the world and being relevant. Awesome, awesome Sammy. Yeah, I think being vulnerable has a lot to do with being authentic and and opening yourself up to um, to everything there is to know about you. When someone when someone knows all about you, that's when you're at your true authenticity. I love it. So, gentlemen, how can start off first and then we'll go Sammy after that. So talk about you alls business? What do you do, where you based? Who is your target client? How did you all get into this busin I know use family owned. Talk a bit more about you all in your business and your entrepreneurial ventures. Absolutely so we are in the life insurance business. It was started back in nineteen sixty three by my father, Barry kay and Uh may he rest in peace both Unfortunately my parents passed away two years ago during COVID. But he really was a revolutionary. He changed the entire face of the life insurance industry. UM. Interestingly enough, he came from the show biz background. He was one of the top ten disc jockeys in the country's back in the fifties, and when he got into the insurance business, he said, you know, I'm gonna do this different. Uh And I bring this up because these are the things that I've learned and I've passed down to the Sammy and others that are in our organization. But he...

...said, I'm not going to be like a traditional salesperson where I'm living paycheck to paycheck. We're going to create a business and people are gonna understand that we're not order takers. We have well in this case, relevance, and we're gonna help you and show you strategies that you've never heard before. And he took that platform of being in show business and started was one of the first people independent people that started doing national advertising on television. If I go back to the late seventies, we had commercials with people talking about should you replace your current life insurance policy? That was Harrisay. Back then, nobody ever changed the life insurance policy, but we were showing you how you could save huge moneys. Then we went through a series of commercials where there were angels in heaven and one was somebody at the pearly Pearly gates and uh, she says to him as she's a about to give him his wings to enter into the pearly gates. She goes, you look concerned, You look upset. We don't worry here in heaven. And he says, I know, but what I've done is terrible. She says, what did you do? He says, the policy? What do you mean the policy? You bought your policy from Barry Kay Associates in Century City, California, Right, goes, I know, because then what's to worry about? It goes, I took it with me. I can't take it with you because I know my wife's gonna kill me. And so we had this whole series of commercials in Heaven. Well, we got blasted by the life insurance industry. Needless to say, next year there was an advertisement from Prudential with people going up an escalator into heaven. So the aftermath bother writing a letter to the chairman of Prudential saying, I hope you had as much success with your angel commercials as we did with ours. Fast forwarding through the eighties, we revolutionized a lot of different products single premium life and then the early nineties, actually when I believe it was Bernard Shaw that was on the anchor who's the main anchor for CNN, We had a whole campaign in New York and then we started advertising nationally on uh F what was FN Newswork Network Financial News Network before it became CNBC, and The crazy thing this we were doing one minute spots and you want to take a guess at what a one minute national commercial cost. When this is in the eighties, this would be one n No, okay, so let's say five brand one hundred and twenty five dollars. We had a marketing budget of a hundred thousand a month. We had fifty affiliates throughout the country that we would do split business with. By the time I stopped doing it, we were up to around two dollars per minute when it was CNBC, and now god knows it must be twenty thousand a minute nationally. But anyway, we um so we really revolutionize the industry in the field of estate planning and showing people how to accommodate what the ultimate estate taxes we're gonna be because people who had a high net worth will. Back in the old days then you had a lifetime exemption of six hundred thousand, which meant if you were had six hundred and your wife had six hundred, the first million two was free from the state tax. But if someone was worth five million or ten million dollars, well they were gonna have a fifty five percent of state tax bill that meant everything over that million two that went to your kids was going to be subject to a state taxes. And people were fed up with it because they said, we worked our entire life to make all this money and now the government is gonna take over half of it just because we make a mistake and die. Well, since then, the exemptions have continued to to go up, and right now they're over twelve million hours per person,... now people are comfortable. The first million of Swans of state there's no estate tax. However, it's going to sunset in two thousand twenty six, which means what they've already established by law, it's going back down to five million a person, and the Democrats want to bring it down to three or three and a half million per person. So that sets up a whole new cycle of business where people are saying, wait, we need to protect our assets. So we were very big in the estate planning market. We were very big in showing people how to increase their retirement income, and as of over the last twenty years, became very big in the life settlement industry. And this is a very interesting thing. This is people that are older, typically over age seventy, who have life insurance who have decided they no longer have a need for it. Whether the exemptions are high so they don't have to worry about a state tax, or maybe they just don't want the financial burden of the premium, or maybe they say their their kids have enough and they don't need to worry about it. We can take those policies and sell them in the secondary market two major hedge funds quite often for three or four times what their cash surrender value would have been. So these are the everything that really encompasses within the life insurance world and what we do. We've been a boutique firm. We were bought by a national company about twenty year twenty three years ago, NFP National Financial Partners in New York UM. I subsequently bought myself back from them in two thousand eleven, and I had the pleasure of being with my father in my office every day, and now I have the pleasure of having my son Sammy joined me every day. So it's really a family business, and our approach really is just I guess your word authentic is really the best that it can be. You know, someone was in here the other day and and said to me you know you're not going to get a deal today, and I said, well that's okay. I'm here to educate you and help you. Iide you through what you're looking to accomplish. She says, but but you want to make a sale, and I said, well, of course I do. Listen, I want to make every last dollar I can possibly make, but not at your expense. Okay, So therefore, if I can assist you in helping one day, you may come back and you'll buy. If not, oh well, but that's my business. My job. I've chosen to be the life insurance game. My job is to educate people. Educate you to a point where you say I either have to have this or I don't have to have it. It's as simple as that. And you know, with respect to we are a commission based firm. Um. Well, like, like I just said, of course I want to make every last dollar. Commissions are not a driving factor, which I don't think a lot of salespeople understand. I was always taught you do the right thing by your client, you will be renumerated and that's the important thing. So it's not commission that comes first. It's what can I do to put you in a better position financially with respect to your overall planning with life insurance and annuities. And then from there, whatever it is you do, yes, we will be remunerated by it, Sammy. Talk about why you decide to get into the life consurance business again, we talk about authentic stories of authentic people. Your dad's, dad's your grandfather started the business not to sixty three. Your dad worked with him, now he works with you. What was it about the life insurance business, right, Sammy that got you excited to want to get into this business. Yeah, yeah, thanks Marcus. So it really trickles down to one thing, and at the end of the day, it's it's being with my family. It's being a part of my legacy and continuing that. Um, there's nothing more important to me than family. And I can't even tell you growing up, there's nothing more that I wanted them to do with my father, whether that...

...was going in the pool late night, sneaking behind mom's back, and and and hanging out with Dad late late night and not telling my brother or sister. So it really all stepped from the feelings I got when I was a little boy. But to see the success on a personal and business level that my grandfather and father had together. That's something that I wanted to emulate. That's something that I wanted to be a part of. And life insurance being in my family's blood for so long, it was it was the only thing. It was the one thing that Um that allowed me to be a part of this business. And I you can clearly see that I have an amazing mentor everything that my father just said is what I what I breathe and eat every single day. So it's a it's a wonderful feeling not only being able to learn from from your family, but to also be a part of it every waking day. It's uh, it's an amazing thing. You know, I think Alsto Marcus Sammy got from my father. UM. You know, this was a man that, like you just said, Sammy breathed that he exooted it. You know, he believed that life insurance could cure the common coal. Well, when you were surrounded by this every single day and every you know, our conversations when I was a kid stemmed around eating at every fast food place in Los Angeles where I grew up behind my mother's back and talking about life insurance and this man just it just came out of his colors, and that's why he was so infectious, and Sammy got to see that. In fact, there was a point in time where my father would make Sammy call him every afternoon at two o'clock for an hour and they would just talk about the stock market and business. But as he was trying to teach Sammy about these different financial things and how you play the market and why you do this, and that, there was always a guiding lesson behind it, and it always had to do again, I'm gonna come back to your word of authenticity. It was always about be as knowledgeable as you can, share as much as you can with people. You know. One of the things that he used to teach me is he'd say, agents, insurance people, they don't want to give their secrets out. He said, I don't care. I'm gonna give you the kitchen sink because if there's anything I hold back from you, how are you able to make the appropriate decision for yourself. So I think Sammy has learned about that total transparency and sharing everything with the clients, even to the extent of someone asked me, hey, how do you make money on this? Boom, this is exactly what we make. Let me show you when we get a percentage of this. Everything is right there in the open. Love it, Love it. So, Sammy, I want to ask you a question and then you can have I want to Howard response after Sammy, how important is mentorship, guidance coaching in business for you today? Because like your dad said, you know, he learned a lot from his dad. You're doing a lot from your grandpather and from your dad. But how important is it? Because I wanted to get the authentic truth of successful people is they never stopped listening and they never stopped growing. So in your eyes said, I mean, how important is mentorship coaching them? Will go to Howard after that. Yeah, I think it's very critical to keep an open mind. Um. I really believe that every person brings something different to the table. And even though something that you're doing might might be working, might be might be the answer. It wouldn't hurt to hear someone else's uh two cents or their perspective, because I'm not saying that their perspective is the right perspective. However, it can allow you to open up your mind to different avenues or different directions of your original thought or there's just so much more that someone can bring to the table by just one, one eye opening perspective. And if you're closed off to that, then not only...

...are you are you closing your own self off, but you're closing your opportunity, your path, You're closing your closing that off. So it's I think it's very important to keep an open mind and to hear other people's interpretations of of whether it's business, whether it's coaching, mentorship. I think it's I think it's necessary. Power. Yeah, I follow along the same guy guys as Sammy. The you know, a father's son business partnership is very interesting. I can't tell you how many uh fathers I have heard say to me, I would never want my son in business with me. And I think to myself, why, I mean, he's your pride and joy, you love him, You brought him into this world. Why wouldn't you want to see that legacy continue? Why wouldn't you want to impart everything within you into him? And for whatever their reasons are, now, I understand that there's a bit of an ego in all right, I'm the father, I'm your mentor. Sammy so you're gonna do it my way. But I've also learned enough to know that my way might work perfectly for me, but it doesn't mean it's gonna work perfectly for him. So I want to give him the tools. But it's like when he had mentioned you to me and I said, oh, sure, you know, I follow Marcus on Facebook. Reach out to him, because if this is what he does, you're getting a totally different perspective on the approach. It doesn't mean he's going to, as a business coach, change your philosophy or strategies that you've created and what you may want to present, but he may share with you different ways of sharing it with different types of people that I may, my age of fifty seven, have it already downpacked the way I do it. But you're in the process where you can be molded so many different ways until you find out it's your best approach. And I think those are very important for a coach to be able to impart to a younger person. Well, I can tell you this how I've been working with Salmy now for about four months, and he's done phenomenal in his approach. He has learned how to talk to people speak their lingo speak their language, and that is what I feel is sales is all about, right. Sales is all about building belief with somebody or trust, and then you exchange a service because they believe in or trust you are the person to do what you say you're gonna do. And like you said, it's not about the dollars and cents. It's about the value to the client and the money will come from that. So I have a question for you, Howard. You talk a lot about leadership guidance all that. I read an article it says great leaders have strong ideas that are weakly held, strong ideas that are weakly held, which means that they know how they're gonna get things done. But it doesn't mean that they can't look at something or hear someone else or getting the perspective in my to be able to attack or solve a problem because they are open to different perspective and they're flexible. What are your thoughts about great leaders, Howard, that have strong ideas that are weakly held. Yes, I could see that. Um, I think communication is a big issue. You know, you have great idea, but if you cannot communicate it properly, it doesn't mean anything. You know, it may inflate my ego by keeping it up here in my head. But if I can't get that point across to you, what good was the idea? So absolutely, again, going back to my early years, all I ever learned was there is never a time to stop with education. You must constantly... reading and learning and hearing other people. Because I could be in a room with let's say a hundred insurance people, and let's just say I walk in with the ego mindset, then I'm above everybody, which I probably am not. I'm just kidding there, but but so let's just say that's my mindset. It doesn't mean I shut them off, because that doesn't do anything that's good for me or for them. Why Because if I shut them off, I'm not able to teach them. And I love educating people, even people in my own business. I know we've made agents of fortune in this industry, and more power to them. There's plenty of business for everybody. But I'm looking for that little nugget that I'm gonna get from someone. It could be someone that just started a year ago. You never know what somebody is going to add. And I say that everybody that you speak with, whether it's a professional or if it's a customer, there's always something to impart. I explained to Sammy. I said, you know you're gonna love the sales process when people come in because we're gonna talk business for maybe twenty thirty minutes, and then you're gonna find at least for me, because I deal with people that are typically you know, much older um that they're just gonna tell you for about an hour and a half their entire life and the story of their children and how they worked. And it's partly my fault too, because I engage and I start asking them questions why, because I'm interested. What happened when you were fifty, How did you make that transition? What did you do? All of these things go into making more of a fulfilled person so that you can again see how to apply it. My father always said to me, and I say it's a Sammy, listen with application. To hear somebody is one thing, but to hear it and figure out how to apply it within your own life is another. And I think that's a very important point, Sammy. Yeah, I was just about to say listening with application, but even markets the stuff that we go through. You know, you're you're not listening. You're not listening to to answer. You're not you're not listening to come up with an answer so you can answer whatever that person just said. But you're actually listening to understand and of course apply not only apply to how it can pertain to business, but how it can pertain to to your actual life. So listening I really thinking, I mean not even just in business. I think listening is a as an amazing characteristic too, to grow towards for your whole life, because you know, I can't even tell you the amount of people you introduce yourself to someone In one conversation, at the end of the conversation, that person is asking what's your name again? So it's just and every conversation that you have, it's always good to listen because it really can take you. It really can't take you far, you know. Gentlemen. My last question for you both is I love the father's son combination here on the show. Love the different perspectives and different thought processes. And like you said earlier, Howard, there is no wrong way. There's only different ways to make it all successful. So my question is gonna be Sammy first and Howard second. Sammy, what has been one trait that you have been able to utilize to help you grow and become successful in your business? Again, it could be any trait you want, doesn't matter what it is. Now, what has been one trait that Sammy Kay has leaned on consistently to be able to be successful in his business? I would give it really a two part answer. The first one is, uh, asking questions. Don't be afraid to ask questions. How as as someone who UM is trying to understand you in the fullest, as far as you...

...know, understanding financial is understanding your life. How can I get anywhere if I don't ask any questions? You can't. You can't not ask questions. Questions are key. And if you're not asking me questions, then you're not doing your job as UM, whatever your job I mean, as far as an insurance agent, as far as someone who is planning your financial future, questions are key. And then I'll go back to my dad said, it's really communication. If you can't effectively explain to someone what it is that you're going to do for them, then how can you be effective at all? Um? It's it's it's, it's it's it's a way for you to really create your value um for your customer. You know, you you want to communicate. You want to tell people about your life. You want to tell people about why. You want to make people understand why they're they're buying from you, why they're doing business with you, Why it's because they like you, it's because they understand who you are. Communication is key and vice versa. Even when you're trying to understand someone, you want to communicate. You want to ask questions. You want to know every last minute thing about your customer our I'm gonna do it in five. First, education, you must know your business. You must be as educated as possible and continue to learn. That's the only way to impart knowledge onto others. Next, uh, communication, like Sammy says, you must know how to communicate these messages to people. But something that I don't think a lot of people utilize in a sales process, And I'm gonna go with empathy and compassion um. You know, we're talking about a very serious subject. First of all, let's face it, nobody wants to talk about their own mortality. Number two the question and we change as we age. As a younger man with younger children, your idea of leaving money is different than it is when you're in your forties, your fifties, your sixties. You know, one of the things that always got me about my parents was didn't matter how much money they had. I never understood the value of a dollar because I didn't come from their generation walking five miles in the snow and those old stories. Okay, but when I was around forty something, I remember, after they saw how well I was doing, I said, I just got to ask you this, Do I know the value of a dollar? And my father said to me yes, And things started shifting. It shifted to the extent where, really, in the last ten years, my mother would say to me, honey, whatever you need from us, we just want to see you happy. Now, those words never came out when I was twenty or twenty five or thirty. But people reach a stage when they were in their late eighties of real life saying we only have so much time and we don't need to be as a teaching mode. Teaching mode, teaching what we need to enjoy, and we want to see our children enjoy. And we know you've put in your thirty years already of work and so on and so forth, and so it's that part of your life. So my point being, when I've got people in front of me, they're sharing those stories and sometimes there's tears, sometimes there's laughter. But having that empathy and compassion for understanding where somebody comes not only is it helpful for them because they feel comfortable, but it also I find becomes helpful for me. So I really understand where they're coming from, and I know when to back off. I know, you know what. I think you should be doing this for your family based on the things that you've shared with me. This way, it's not too much, it's not too little. It makes you comfortable, and all of this stuff is a part of Again, it's education to me. The more they educate me,...

...the more I'm able to do for them. So I think that would be the answer. But I really love those two points, which is empathy and compassion for people. Outstanding, outstanding gentlemen. How can people get in touch with you? What's your website? How can we find more information about your great brand? Sammy Well? You can find us online at Howard K Insurance dot com. That's Howard K insurance dot com. You can always reach us at one eight hundred die Rich or one hundred Live Rich. And then we also have uh we also have asked Howard, asked how Kay, asked how Kay dot com, which is just the letter K, and we also have that phone number. But it's funny, you know, die Rich really was our slogan for good twenty five years and it came right after the movie die Hard, and my father wanted and said, let's do die Rich and everybody just loved it. I know it's the same thing, but to call eight hundred divers that way, you'll never forget our number. But again, like Samy said, if you don't like it, you call eight hundred Live Rich. You'll still get to us. But yes, uh www dot Howard k insurance dot com or ask how Ka dot com. Fantastic and the authentic tip for this amazing interview never stop learning, continue to get educated. Education is power, but applied the education can change your life. So be someone that's smart, that is adaptable and never stops listening. Howard does it, Sammy does it? I do it? You should be doing it. Have that type of attitude. Everything else will take care of itself. Again, thank you for listening to the Get Authentic with Marcus Shell. I'm your host, Marcus Ogden, have a fantastic day. S.

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