Posts Tagged 'investments'

A week in the field

I had a full week of meetings to talk about my new products and services.  I had several appointments, all with friends.  I must admit, it was awkward.  Not only was I conscious of the fact that I was, in essence, trying to sell insurance, but I was asking friends to divulge some information about their personal finances.

I don’t feel like I pushed the insurance on them at all.  I told them why I chose this career, and why I chose the firm I did.  I then went into a description of building a financial plan.  I think I sufficiently explained why life and disability insurance are the basis, or foundation, for a financial plan.

The logic is that, if you have $500 to invest each month (you certainly don’t need that much to get coverage.  Also, do know this amount is NOT meant to be a quote for anyone in particular), you can either put it into an investment account and hope it appreciates, and hope, if you need it, the market doesn’t happen to be down 40% that year.  Or you can make sure you have enough life and disability income insurance to cover your home, family, income, debt, funeral costs, etc., should you die or become disabled prematurely.  If something bad were to happen, you get more bang for your buck with life and disability income insurance than you do in an investment account.  When you start making more money, you can start investing because your family is taken care of in the event of death or disability.

I even explained the difference between whole and term life insurance to some of my friends, and they were grateful for the education.

I definitely felt myself getting a little pushy.  However, I know it was not due to my desire for commissions.  I’m sure in the past the stigma of the pushy insurance salesman has been deserved because the agents un-ethically tried to sell products that were not best for the clients, but were best for the agent’s wallet.  This week, though, I felt my pushiness came from a desire to help.  The building of the plan made perfect sense to me, so why wouldn’t it make sense to my friends.  Why would they be adamant about wanting to keep finding good value stocks rather than protecting their families?

I got the “give me a few months and then we’ll take a look” responses.  What if something were to happen in those few months?  I know that seems like a sales ploy to try to get you to buy now.  However, it is exactly what these products are designed for…unforeseen circumstances.  If you know you need life or disability insurance, and you have the money to buy some (any is better than none at all), you should get it now.  It has nothing to do with my commissions…it just makes sense.

We can build the retirement planning, college planning, and investment accounts also, but let’s make sure we have your family, house, and ability to earn income covered first.

Am I wrong here?  Am I being too pushy?  Please let me know.

Many more appointments scheduled next week.  I’ll be back with more updates.

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