A Lesson in a Tragic Loss

Several weeks ago my family and I lost a very important person. Joe was a big part of our family growing up with my sons and we lost him at 30 years old. After 2 years of fighting a rare form of leukemia his body just couldn’t go on. I remember 2 years ago when Joe was diagnosed and hospitalized just 3 days before his first child, a son, was born. Now his wife and child are without a husband and father; worst of all his wife was left with a mountain of bills and no income. On top of the deep loss I feel with him gone, I feel guilty about the terrible financial mess his family is left to handle like the extraordinary medical bills that couldn’t be anticipated or insured against. The need for final expenses, future income and money for his son to go to college could have been anticipated and handled with life insurance. I have offered his parents any and all help I can provide with trying to clear up the financial issues that are left. He had a small life insurance policy but that will be gone quickly.

You might be wondering why I feel guilty and a little ashamed. It’s because I cheated Joe out of the knowledge I had to keep his family protected against his unexpected death. There were plenty of opportunities to have this conversation. I could have discussed it when he got married, or when he became self-employed or better yet when he told me the exciting news that his wife was pregnant and they were going to have their first child. So why didn’t I? I wrote quite a bit of life insurance when I was an agent and I certainly was aware of the importance of it. I also knew how easy it was to get a large amount of term life insurance very inexpensively. I knew Joe didn’t have too much disposable income to spend but he had enough to buy protection. When I honestly search for the reason I realize I was concerned that Joe would think I was trying to talk him into something he didn’t really need just like every other “life insurance salesman.” I figured he didn’t see a need because at the time he was a healthy young guy in his late 20’s. So rather than make sure a very important person in my life was well informed and properly protected, I caved into my own lack of commitment, insecurity and unfounded beliefs.

Have you ever felt like this? Not just with life insurance but with any coverage recommendation you might be making for a client. Have you ever avoided advising a friend, family member or client to seriously consider purchasing insurance coverage because you were afraid they would think you were acting like the textbook “insurance salesperson.”

How often do we avoid offering good advice or addressing a necessary coverage becuase we feel our actions will be misinterpreted? How many times during a sale do you avoid or gloss over a recommendation because you don’t want to nix a sale. I think for some people the fear of being seen as the stereotypical insurance salesperson lies in the back of their mind. Don’t let it! If you’re sincere in offering the best advice for protecting your client, friend or family you should never hesitate to recommend coverage. It’s your duty, it’s your responsibility and, most of all, it’s what actually sets you apart from the stereotypical insurance salesperson.

I believe this same fear is what makes it so hard for some service staff to transition into selling. That little voice in the back of their head makes them question whether they are promoting coverage for their own personal gain (or the agency’s) instead of what’s best for the client. It’s that little voice–that fear the client may think they are insincere–that makes them not want to sell.

I sincerely regret letting my foolish insecurity keep me from strongly recommending important insurance protection for Joe and his family. There is no guarantee that he would have purchased what I recommended because ultimately he was the final decision maker. It may have been an issue of affordability and we could have dealt with that problem. It might have meant buying less coverage initially but some protection would have been better than no coverage.

I hope by being honest in this column I can spare some of you from making the same foolish mistake I did. You don’t want to feel guilty about letting someone or their family down. I know during the recent E&O seminars you were told you’re not a professional and are only responsible to provide the coverage the client asks you to purchase. That might protect you in a New York court but it won’t make your personal guilt go away.

You are a professional! You want and need to recommend the correct protection. Don’t be afraid to do so. If your client knew everything he needed to properly protect himself, his family and his business, he wouldn’t need you. You’re the one with the knowledge, be committed to strongly recommending the best protection and do your best to make sure the client gets what they need!