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Welcome to Warrior Money, the show devoted to supporting your brothers, veterans. I'm Patrick Murphy, and I'm Dan Kons. Today, we dive into insurance, one of the greatest protectors of today's middle class, from the oldest insurance company in the US established by Ben Franklin back in 1752 to today. Insurance transfers one's individual risk to a group protecting one's standard of living and economic security.Today, we chat with Desert Storm Marine veteran Virgil Miller, who's the president of Affleck, whose mission is to care on purpose, ensuring 50 million people worldwide. So please welcome to Word Money, Affleck president, VirgilMiller.

Well, thank you. Thank you for having me. I'm so excited to join you guys today. Yeah,

so we start every show with a bottom line upfront question, you literally went from private to president.Uh, you are now obviously president of Aflac. Affleck is a Fortune 20222 $18 billion in revenue, about 12,000 employees. How did you become a private in the Marine Corps serving Desert Storm to the president of one of the largest insurance companies in the world?

Yeah, well, thank you for having me. First of all, and thanks for that question. It's been an exciting journey for me, and as you stated, I call it my journey from private to president. I will tell you, coming out of the Marine Corps, uh, after serving in Operation Desert Storm, I took a lot of the learnings and the teachings into uh my career, and I still leverage a lot of those foundational things today.Uh, coming out of Marines, uh, I just started, uh, entry level job, and this is after working about 4 jobs while paying my way through college as a United States Marine Corps reservist. And uh I took a lot of that discipline and just tenacity to, to make it happen for me and then entered the insurance field in the early 90s, and I've been, well, I've been here now about insurance about 33 years.Uh, 21 years at Aflac and uh really I would tell you that I took that discipline and those key learnings and helped take an entry level job, about 30+ promotions uh to

president. We talk a lot on our show about finding purpose and we we talk a lot about transitions on our show.And you, I think you said 30+ jobs or 30 30+ promotions that you had to get to the president of Affleck. Can you talk a little bit more about your time in service? What were the things you learned there, uh, where were you stationed and how, how did that have any impact at all on your professional career afterwards?

Yeah, I will tell you that it, it made a tremendous impact. So if, if I would just go back again for I won't tell my entire journey for the sake of time, but a couple things I would like to point out though. I joined the Marines actually when I was in high school. I, I, as I said, I signed the contract. I began preparation then.Um, I left the next day after graduation, uh, went to Parris Island. That's where I started my marine journey from Parris Island to Camp Pendleton out of Camp Delmar. And along the way, what I will tell you though is that I would say to any, uh, servicemen listening or prior uh service uh personnel out there, that what you're taught, it works in the business world. And here's what I mean by that, it starts with just the foundation, the foundation of discipline.And when I think about the Marines, the second thing I took with me though is you hear all the time, uh, Dan and Patrick, you hear all the time about attention to detail. Well, I say the same thing applies today, uh, walk your own process. Make sure that you check every single detail, detail it out. Uh, one of the things I said, uh, in another interview was sweat the small stuff. That means that details do matter, that that is the foundation.Because in the military when lives are on the line, those things matter, and I try to take that same approach in in corporate America in my role today as president, those details matters to our customers. They matter to our employees and they certainly matter to our shareholders. Every detail counts.

That's really great insight. I appreciate that a lot. So we're, we also try to get to people like you're, you're the president of Affleck now. You're doing amazing things and you've been doing amazing things for quite a while. But what we're trying to be is accessible to folks that are just transitioning out of service as well. And you had already mentioned that you worked 4 jobs when you.You're going to school, you're trying to put yourself through it. What, what were the, what was the bridge or what were the things you may have used from either your military service, what was the GI Bill, Veterans Home loan, any sort of like benefits that you may have had that helped you bridge from service into professional and corporate world?

Yeah, I, I joined back in the 80s. There was a program then, delayed entry program. It was all about leveraging the GI Bill. You know, I come from a humble background, a humble family. I knew that I had to help my parents pay my way through college, so I leveraged joining the military for that primary reason. Now, don't get me wrong, I believe in serving the country, I believe in serving people.And I believe that uh the mission of the Marine Corps is one of the most relevant missions out there. Uh, so I wanna do both, and uh, but having that mindset though, to me it's the same thing I think about today. I'll share with anybody that's listening, know your why. Uh, my why though was to make sure that I could provide a good life for my family, some of the things that I did not have, uh, growing up, so I was, I stayed focused.I joined the military. I wanted to be one of the best graduating from boot camp. I graduated platoon on guard, uh meriors Lance Corporal. From there, when I got to college, I knew that I needed additional income beyond uh what was being offered as a marine reservist.So I was a, a, a shoe salesman, uh, a, a Walmart associate, a cable representative, and a radio DJ. So I, I did a lot of things though. The point though is what the military taught me though was, you find a way to carry out the mission, no retreat, no surrender. I was not gonna give up.Until I'd met the mission and succeeded in what I was set out to do. Yeah,

well, I, I think it's incredibly important when you look at America right now, right? So again, this summer 2025, 250th anniversary of the Marine Corps of our army, uh, some of the most well respected professions in the world and in our own country here, um.You know, unfortunately, about 5 months ago, you were here in New York that day when tragedy happened. When you had the, uh, Health United, uh,CEO, um, unfortunately, he was gunned down here in the streets of New York by Luigi Maggian. So Brian Thompson, uh, was a young father, uh, was killed. He was a healthcare insurance CEO. Uh, what did that message send to you and to Affleck?

Yes, the first thing I'll say, my heart goes out to uh Brian's family and um certainly a sad situation here in America. Uh, if you think about we all three put on a uniform, and that was to protect Americans, that was to protect against any uh foreign or domestic threat. And having said that, um, I just, uh, you know, really hate to see what happened.Uh, uh, just to add more perspective, you know, what we're doing by way of a profession in the healthcare space, that's an insurance company, we wanna actually provide protection, uh, you know, in that particular case, uh, I'm sure that what what Brian was doing was, was leading his organization, uh, to provide a service to people. Uh, you know, if you think about this, what insurance is, is a pool and a risk. What we're really trying to do is make sure that when something comes up,We can provide that type of protection for people, but it is a great reminder, and I have uh basically shared this with all my team members though. It gets back to one of the things I said earlier, you have to make sure that you're always listening to the voice of the customer, uh, taking the inside out, look, and approach. So what are your customers saying about your experience? What are your customers saying about, uh, your products? What are your customers saying about your overall culture for your organization?And making sure that uh you you've listened and that we're providing uh the necessary uh tactics around that. Last thing I'll say though is that, yeah, it should have really put up an awareness to everyone out there, every professional beyond insurance, uh, that we need to have the wherewithal around us to first, you know, again, make sure that we are protecting ourselves.As well as our people, and then that staying focused on what we do to provide the protection to all people uh here in the United States and for our like it's a global organization across the other places we serve people in the world.

Yeah. We're, we're coming up with a break, but, you know, you talked about culture and, and how you're out the world. I, I understand the fact that you guys cover over 50 million, uh, folks in the United States and Japan. And in Japan, obviously 1 in 4 Japanese households are covered by Affleck. What are the cultural differences when it comes to insurance, when it comes to healthcare between the two nations?

Yeah, you know, I was just over in Japan a couple of weeks ago, and uh what I always like to tell people is that we're more liked and different. We're more like than different. So, uh, just like here in America, there are unexpected expenses that need additional recoverage, and they require supplemental insurance that we provide. Uh, so we're relevant there just like we are here today. The second thing I would say though is that one of the leading products for us and also Japan is our cancer insurance.Uh, it was in 1954, uh, John Amos, one of the principal fathers with his two brothers, was reading a newspaper article and it said 1 out of 7 people in America, uh, would likely get cancer. From there, he had this great idea of creating the first cancer insurance product. We are the pioneers of that space, and it is so relevant here in the US, but it is one of the main products that we also sell in Japan. Uh, there is a health conscious society.That wants to make sure they have that financial protection, uh, because it's one of the things you know about Japan is.The population, uh, the demographics, uh, they, they have a, a, a mortality rate longer or they live longer than basically than people in the US and so therefore,They want to make sure that they protect themselves all the way through life, and that's what makes us so relevant there also. Yeah,

no doubt. So this is Virgil, we're going to come right back to you after this break. We know that Affleck is a phenomenal for $100 million given to cancer research and and cancer programs. So we're gonna come back and talk about that in just a second, more, more money.Welcome back to Word Money. I'm joined by Virgil Miller. Hey, Virgil, right before we broke, we talked about the incredible leadership that Affleck has provided for almost over 70 years when it comes to cancer research in America, over $100 million to date. But that was really initiated by your founder, Mercer Amos. Can you tell us why that's so important?

Yeah, let's give credit to our CEO Dan Amos. Uh, he has been CEO now for 35 years, and he had this vision to give back and support really to fight against childhood cancer. Uh, so today our employees, along with the brokers and agents that sell Aflac, have combined to give approximately $190 million primarily to the Children's Healthcare of Atlanta and the Aflac Cancer Center.Uh, to help children really facing, uh, the battle of childhood cancer. Uh, over to my left, I'll point out to you, Dan and to Patrick is my special Aflac duck. Uh, this is a robotic companion, uh, that was created specifically to help comfort children that are facing treatments from cancer and other blood disorders, uh, such as simple cell disease.And uh we are proud to, to not only uh donate, but to give time and energy to help uh get better outcomes, you know, the, the more research that goes into, uh, this, this disease, then the better outcomes that we'll have for people. And the last thing I'll close with on that is also just uh reminding people that early detection is the best thing though. Uh, I'm gonna be launching a campaign called Get Check.It's a reminder that you should go and make sure that you have your, your physical, uh, to check for cancer. We know that when it is detected in stage 1 and 2, you have a better outcome than in stages 3 and 4.

When I think of insurance industry, I think about uh consistency, I think about standards, I think about longevity. Uh, when I read the news today, I hear disruption, innovation, problems. How in your role do you so the noise of the day versus the longevity and sustainability of your organization?

Uh, being able to meet people when, where, and how they want to be met is what it's all about. Uh, I'll give you a few examples on making sure that we stay innovative. It starts with products. So our products are to provide benefits, uh, for those that carry our insurance. So if you think about it, especially for us, having served in the military, uh, mental health is extremely important to all Americans. And what we have done recently, specifically, we just launched a new accident product.Uh, we made sure that mental health benefits are now a part of our policy, uh, making sure that people can get that type of treatment, uh, knowing that more and more Americans now face mental health challenges. That's one way of making sure that your products are relevant and sustainable for for the time to come. And I will say the other thing though is how people buy insurance, how they pay bills, and specifically though how claims are filed and paid is extremely important.It's all about making it easy and that can definitely be assisted with technology. So we're always investing and having the right technology to give people the ability to purchase our insurance or to enroll, giving them the ability to then be able to keep up with it, making sure the insurance does not lapsed, but the main point of truth and then at the time of need is when it's time to file a claim. You have to make sure that process works and that's what we're deliver, we want to deliver speed, quality and consistency.And that's all enabled by the help of technology.Along with people. People will always be a part of our process.

No doubt. And, and you got to meet people where they are, Virgil, like, you know, on their cell phones, etc. and using that technology as a force multiplier. But I, I wanna dive in real quick. Virgil, you mentioned mental health. I love the fact that you guys are covering under supplemental policy at Affleck, uh, because 1 in 5 Americans will suffer a mental health care illness, uh, and we need to do better because your physical health is tied to your mental health, your brain health, um.When you look at since 9/11, over 120,000 of our brothers to veterans have taken their own life, have died by suicide. Um, what do you think more we should do as a society to answer the call, let people know, to get rid of the stigma that they should be proactive when it comes to their mental health?

Well, the first thing I'll say that this is a topic, if you think back, uh, I, I would imagine we're near in the same age range. If you think back, uh, years ago, this topic was not being talked about in the public, um, and so the fact that it's getting attention and awareness is, is where it all starts. Education is extremely important. Uh, at Afleck, we wanna be thought leaders, we wanna be thought leaders on subjects like this, we wanna be thought leaders around things like cancer insurance.Uh, which we can talk about later, the partnership we have with the American Cancer Society, but sticking on the subject with uh mental health, my point though is that uh we need to make it conducive to the point that people are OK with discussing this, and then show people how they can get help. And then for us as an insurance company, making sure that we have provide benefits and coverage, uh, that will take care of the person, also get support to family members. Uh, that's why I think that we need to do.Um, for, for people that we serve today.

We often talk about mental health, physical health as the foundation for what you do post-military service, but we also talk about finding your purpose and finding your job. What advice do you have for transitioning service members into the insurance industry?

Uh, my advice would be, you know, first, uh, as I mentioned before, when I took off the military uniform and now put on the suit, I still have the feeling and know that I'm serving people and giving back. Uh, that's the feeling I get in the insurance space, you know, how do I know that? Well, I get a chance, an opportunity to read the thousands or the millions of letters that come in from where we've helped people, uh, when people are undergoing treatment or facing financial burden.We need to make sure we step there and we're there for them at a time of need. To me, that resonates with service men because that's exactly what we're doing when we put on those uniforms. We're being there to serve people and being there to help them. I'll also say that one of the things that I personally do, uh, along with Aflac and all of my team members and all employees here is we give back. It's not just about serving those that have our policies, we make sure that we also work in the communities uh where we live and where we serve, and make sure we're giving back.Uh, and then the last thing I'll close with though is that, that, that when we talk about donating and giving money, it needs to go to research. There's been so many advances in the healthcare industry. If you kind of look back over years, when you think about something like chemotherapy, that would mean spending time with a doctor and ongoing treatments and to the visits.And now there's a chemotherapy pill. We have to make sure that we are, uh, understanding the advancements that are happening, then make sure that our insurance is also applicable um as those advancements occur.

Nodoubt, yeah, especially when you look at the fact that healthcare in America is a three-legged stool, it's, you have obviously the providers, the doctors, nurses, professionals, you have the hospitals, and then you have the insurance companies, right? AndWe need to make sure that we're doing what we can to have the best practices, the best research, the best techniques to take care of our patients because it is patience over paperwork. It is patience over anything else to make sure we're doing what we can to keep them alive another day and make them live healthy lives. Hey, Virgil, on Warrior money, we always have the warrior Q&A. So we turn over to Dan.

Hey,Virgil, uh, what's the best money advice that you know now that you wish you knew when you were younger?

Uh, it, it kind of goes back what I was just saying that is that, you know, uh, the small amounts add up over time, right? We all know about the present value of money. It makes a big difference if you leave it alone and put it, and there's two types of investments, you all know this, but there's your safe, and then, you know, I do take some risk.But I'll tell you this, having worked in insurance and having learned from our great CEO Dan Amos after 35 years as CEO, he still assess the same three risk principles that apply today. Don't risk a lot for a little. Consider the odds and do not risk more than you can afford to lose. I manage my finances the same way still today and uh hopefully that piece of advice helps.And then the last thing I'll say though is, you know, part of my career though starting insurance, I did work for Geico. Uh, I will give a quick shout out though. I got a chance to meet Warren Buffett years ago and I still remember something that he said he learned from uh one of the uh original investment officers from GEICO, Lord Mayor Davidson. He said Lord Mayor told him, don't be afraid to make a dollar.And I still today remember that because what it meant to me is, don't be greedy. In other words, if you do make a stock investment, for example, you make money, take the money out of real sets. So sometimes people hold on too long on risky investments and that it could turn out to be a problem for you. Now that's just my personal uh piece of advice there, but those are just things that have helped me throughout my life.

It'sgreat, it's great. And so, um, Marine Corps president, what's been the most unexpected part of your journey?

Uh, I, I would say the most unexpected part of my journey has been where I sit today. You know, I never expected that. Uh, I just remember being told at a younger age, I was in my twenties, uh, wise man told me, and I can, you know, uh, uh, I can remember exactly that conversation. He said, Virgil, just be good at what you've been given.Just be good at what you've been given. Try to be known as the best at what you do, uh, or at least be mentioned in that conversation, and then there will always be opportunities for you. I took that, that same formula and I kind of advanced it. I said, OK, well just be good at what you've been given.Uh, then I ask my question, and I asked myself a second question in a reflection annually. Did I make it better than when I found it? So be good at what you've been given, make it better than the way it was given to you. Then the third thing though is I always try to keep an idea in my pocket, right? What is the innovation that I'm gonna bring to the table? What am I gonna do that really sustains us and changes us and helps us move us toward the future.I believe if you just keep those three things with you and keep those things in mind and stay disciplined to execute those things. Uh, there's always an opportunity for you. That

might be the best one I've heard so far. I really like that.

Thank you, Virgil. That's pretty awesome. Hey, listen, there's a reason why you went from private to president, uh, president of Affleck, Virgil Miller. Virgil, thanks for joining us for Word Money. You're a great American. We look forward to seeing you soon.

Ura, thank

you. Airborne. All right, so listen, that's our show. So listen, subscribe, and review Wri Money on Apple Podcasts, Spotify, or anywhere you get your podcast or find us at Yahoo Finance. I'm Patrick Murphy

andI'm Dan Coons. We'll see you again next week.

This content was not intended to be financial advice and should not be used as a substitute for professional financial services.