David Price of The Price Group On 5 Things You Should Ask Before You Purchase a Life Insurance Policy

An Interview With Jason Hartman

Jason Hartman
Authority Magazine
Published in
10 min readOct 12, 2023

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To thrive in the insurance field and avoid burnout, it’s crucial to strike a balance between work and personal life. This balance allows for sustained productivity and mental well-being. Another essential aspect is effective time management; it’s important to delegate tasks where possible and set realistic goals to prevent overwhelming workloads. Continuous self-improvement is also paramount, as the industry is constantly evolving. Stay updated on emerging trends, regulations, and technologies to remain competitive and relevant.

As a part of our series about the “5 Things You Should Ask Before You Purchase a Life Insurance Policy” I had the pleasure of interviewing David Price.

David Price is the CEO and Founder of The Price Group — one of the fastest-growing agencies in the insurance industry. He entered the industry in 2018 with a strong focus on Final Expense Life Insurance. David became the fastest millionaire in the industry depositing over a million dollars in his bank account within 36 months of getting his insurance license and making over 1 million a year in his 4th full year as a licensed agent. He has created a simple and effective system that has enabled many people to achieve multi-six-figure incomes from the comfort of their own homes. David firmly believes that anyone, regardless of their profession or skill level, can obtain a license and create a 6-figure income with hard work. As the owner of the fastest-growing agency in the industry with Senior Life Insurance Company, David has personally mentored some of the most accomplished sales agents in the country. His unwavering commitment to helping others achieve success has earned him a reputation as a leader in the insurance industry.

Thank you so much for doing this with us! Before we dig in, our readers would love to get to know you a bit. Can you tell us a story about what brought you to this specific career path?

From a very young age, I have been inherently drawn to the world of business. The concept of creating something from scratch, identifying opportunities, and turning them into profitable ventures has always held a deep fascination for me. This inherent entrepreneurial spirit has consistently defined my life.

One of my earliest characteristics was my inclination to seek out deals and bargains. I have perpetually been captivated by the art of acquiring items at a lower cost and subsequently identifying the right market to sell them for a profit. This early interest in trade and an innate understanding of the value of items laid the fundamental groundwork for my future endeavors.

Throughout my journey, I ventured into various business ideas. While some proved successful, others provided valuable lessons. Yet, what remained unwavering was my insatiable curiosity about profit margins. I maintained a keen interest in comprehending how to optimize profits, whether through cost-cutting measures, strategic pricing, or the identification of lucrative market niches.

During these explorations, I serendipitously stumbled upon the insurance industry. I discovered that the intricacies of insurance were relatively straightforward to replicate, offering a potential for a profitable business model. The notion of providing financial protection to individuals and businesses while simultaneously earning a stable income resonated deeply with me.

I delved into the realm of insurance, delving into its subtleties, and refining my skills in sales and customer service. Over time, I succeeded in building a thriving insurance business. This venture not only provided me with financial security but also allowed me the gratification of assisting others in safeguarding their assets and loved ones.

Can you share a story about the funniest mistake you made when you were first starting in the industry? Can you tell us what lesson or takeaway you learned from that?

When I first started in the sales industry, I had a somewhat overconfident mindset, believing that I would be able to close every single person I interacted with. However, I quickly learned that this assumption was far from reality.

Rather than assuming that I could close every person, I learned to focus on understanding the needs and preferences of my potential clients. I honed my listening skills and embraced the importance of tailoring my pitch to address their specific concerns.

Furthermore, I learned not to take rejection personally. In sales, rejection is a natural part of the process, and it’s crucial to learn from it and keep moving forward. Instead of dwelling on failed attempts, I began using them as opportunities for growth and improvement.

Are you working on any exciting new projects now? How do you think that will help people?

Currently, I’m working on an exciting project aimed at expanding my agency. The primary goal is to create more opportunities for individuals to earn six-figure incomes through insurance. This project isn’t just about financial growth; it’s about empowering people with financial security. By providing them with the tools and resources they need to succeed in the insurance industry, we’re helping them achieve greater financial stability and independence.

Are you able to identify a “tipping point” in your career when you started to see success? Did you start doing anything different? Is there a takeaway or lessons that others can learn from that?

In my career, I can pinpoint a significant tipping point when I started to see notable success. It was when I decided to adopt a proactive approach to my professional development. I began seeking out mentors and connecting with industry experts who provided invaluable guidance. Additionally, I made a conscious effort to stay updated on the latest trends and technologies in the insurance field. This shift in mindset and action taught me the importance of adaptability and the power of a strong professional network. The key takeaway here is that success often comes when you’re open to change, willing to learn, and build meaningful relationships within your industry.

What advice would you give to other people in the insurance field to thrive and avoid burnout?

To thrive in the insurance field and avoid burnout, it’s crucial to strike a balance between work and personal life. This balance allows for sustained productivity and mental well-being. Another essential aspect is effective time management; it’s important to delegate tasks where possible and set realistic goals to prevent overwhelming workloads. Continuous self-improvement is also paramount, as the industry is constantly evolving. Stay updated on emerging trends, regulations, and technologies to remain competitive and relevant.

Ok, thank you for that. Let’s now shift to the main focus of our discussion. As an “insurance insider”, you know much more about insurance than most consumers. If your loved one wanted to buy a policy from another person, which 5 things would you advise them to find out about before committing to a policy? Can you give an example or story for each?

  1. When does the coverage go into effect? Some insurance has a 2 or 3-year limited benefit before the client is fully covered.
  2. How long will you have to pay into the policy? Sometimes you can make larger payments and not have to pay into the policy for as long. For example, with a 20-pay whole life policy, you would pay into it for 20 years and never have to pay again. At that time, you own the policy and are fully covered until you pass.
  3. Will the face amount of the policy ever change? It’s not typical for a face amount to change, but there are many different products and riders out there, and you want to make sure that the face amount can’t be changed if you continue the payments.
  4. Will the premium you need to pay monthly ever change? Many people buy a term policy without really knowing what they’ve purchased. It sounds nice when you have $100k for $40 a month, but chances are, as you get older, the premium will increase significantly until you can’t afford it.
  5. You need to know what you are trying to protect.

I specialize in Final Expense life insurance, which is a whole life policy designed for a quick payout to cover immediate funeral costs. The face amount is usually $10,000 to $30,000, typically enough to pay for a funeral.

Now, if you have a husband who makes $150,000 a year and has a family that depends on his income, you would want a policy that can help replace his income and possibly pay off the house and other debts that a family may have.

Obviously, $30,000 would not be enough to do all of that. So, you would want to have a term policy or something else designed with a larger face amount that may expire down the road once they are retired and have fewer expenses.

It wouldn’t hurt to have both types of insurance: one that is temporary, known as a term policy, to cover them when they are the breadwinner, and a small whole policy locked in for when they do pass, assuming they outlive the term policy.

Insurance agencies or companies are often known to be very creative and innovative marketers. Do you use any clever and innovative marketing strategies that you think large legacy companies should consider adopting?

Insurance companies are known for their creativity in marketing, and I’ve found success by embracing innovative strategies. Leveraging social media platforms and targeted online advertising has been particularly effective in reaching a broader audience and engaging with clients on a more personal level. Additionally, crafting personalized content tailored to individual client needs has strengthened our relationships and boosted customer satisfaction. For large legacy companies, I recommend adopting data-driven marketing strategies. Analyzing customer data can provide valuable insights into customer behavior and preferences, enabling companies to make informed marketing decisions and ultimately enhance their competitiveness in today’s dynamic marketplace.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

My mother is the person I’m most grateful to for helping me get to where I am today. She’s been a constant source of inspiration and support, always encouraging me to persevere through challenges and never give up on my dreams. Her unwavering belief in me has been a driving force in my journey to success.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)

If I could inspire a movement, it would focus on promoting financial literacy. Financial education is a powerful tool that can empower people to make informed decisions about their finances, invest wisely, and achieve financial security. This movement would aim to provide accessible and practical financial education to individuals of all backgrounds, helping them take control of their financial futures.

How can our readers follow you on social media?

Stay connected with my insurance content and gain valuable insights by following me on various social media platforms. I understand the importance of staying informed and engaged in the ever-evolving world of insurance. That’s why I maintain an active presence on TikTok, Facebook, Instagram, Twitter, YouTube, and even host a podcast dedicated to insurance-related topics.

On TikTok, I share bite-sized motivational videos and other insurance related content.

Facebook, Instagram, and Twitter are where I provide regular updates, share insurance news, and engage in discussions with my followers.

YouTube serves as a hub for my in-depth video content, where I dive into various insurance topics in more detail. You can find comprehensive guides, tutorials, and interviews with industry experts, offering a wealth of knowledge.

And if you prefer to listen on the go, my insurance-focused podcast is the perfect choice.

Thank you so much for joining us. This was very inspirational.

About The Interviewer: Jason Hartman is the Founder and CEO of Empowered Investor. Jason has been involved in several thousand real estate transactions and has owned income properties in 11 states and 17 cities. Empowered Investor helps people achieve The American Dream of financial freedom by purchasing income property in prudent markets nationwide. Jason’s Complete Solution for Real Estate Investors™ is a comprehensive system providing real estate investors with education, research, resources and technology to deal with all areas of their income property investment needs. Through Jason’s podcasts, educational events, referrals, mentoring and software to track your investments, investors can easily locate, finance and purchase properties in these exceptional markets with confidence and peace of mind.

Starting with very little, Jason, while still in college at the age of 19, embarked on a career in real estate. While brokering properties for clients, he was investing in his own portfolio along the way. Through creativity, persistence and hard work, he earned a number of prestigious industry awards and became a young multi-millionaire. Jason purchased a California real estate brokerage firm that was later acquired by Coldwell Banker. He combined his dedication and business talents to become a successful entrepreneur, public speaker, author, and media personality. Over the years he developed his Complete Solution for Real Estate Investors™ where his innovative firm educates and assists investors in acquiring prudent investments nationwide for their portfolio. Jason’s sought after educational events, speaking engagements, and his popular “Creating Wealth Podcast” inspire and empower hundreds of thousands of people in 189 countries worldwide.

While running his successful real estate and media businesses, Jason also believes that giving back to the community plays an important role in building strong personal relationships. He established The Jason Hartman Foundation in 2005 to provide financial literacy education to young adults providing the all-important real world skills not taught in school which are the key to the financial stability and success of future generations. We’re in a global monetary crisis caused by decades of misguided policies and the cycle of financial dependence has to be broken, literacy and self-reliance are a good start. Visit JasonHartman.com for free materials and resources.

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Authority Magazine
Authority Magazine

Published in Authority Magazine

In-depth Interviews with Authorities in Business, Pop Culture, Wellness, Social Impact, and Tech. We use interviews to draw out stories that are both empowering and actionable.

Jason Hartman
Jason Hartman

Written by Jason Hartman

Author | Speaker | Financial Guru | Podcast Rockstar

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