The old saying “you get what your pay for” insinuates that often going the less expensive direction in a purchase can leave you, well, feeling like maybe the choice wasn’t an apples for apples choice. You’re left wishing you had spent a little more to get what you had in mind when you decided to purchase.
With life insurance it’s kind of an oxymoronic situation in that paying more doesn’t equal having found the best buy, and paying less can very often mean that you got the best value and a better product. Before I get too deep in word salads I should explain that in purchasing life insurance, the end product is often the result of picking an experienced or inexperienced agent to guide you through the process. I’m not going to beat up on new insurance agents too badly because, after all, been there and done that. The thing that allowed me to make it through my early years without dishing out bad life insurance advice was that I had a very experienced and knowledgeable and honest mentor. He was one of the leading impaired risk life insurance agents in the country at the time and pounded into me the need to grow my knowledge of impairments on a daily basis.
So what comes with experience that makes such a difference in life insurance? Honestly it’s experience (and a good mentor) that teaches you to slow down and think cases through before advising which way to go. It’s also experience that allows you to pick up the pieces of a declined life insurance client and figure out what the first agent did wrong, even when I was the first agent. Never give up. It is experience that teaches how to dig for all of the information that an underwriter will want and need even when the client gets fussy because they think I’m asking too many questions. It’s experience that drives home the point that if I don’t do it methodically and right, the outcome will show it and I will lose the client. It’s experience that teaches that one product doesn’t fit all situations and that someone buying life insurance over 60 has different needs than someone in their 30’s. Experience helps to keep a client engaged when it comes down to doing battle with life insurance underwriters and experience helps guide clients away from companies that may look good up front but fall short in the long haul.
Bottom line. 18 years of impaired risk and business life insurance has given me the tools and knowledge I need to do the best possible job for all of my clients. If you have questions or feel like you got the short end of the stick in your last life insurance experience, call or email me directly. My name is Ed Hinerman. Let’s talk.