This piece arrived from Seth Godin on the 23rd. If you do not yet subscribe to his daily thought you should. Go here.
Drink enough water and you will cease to be thirsty.
And yet, a doubting person can be drowning in facts, but facts won’t change a mind that doesn’t want to be changed. More facts don’t counter more doubt. Someone who is shaking her head, arms folded, eyes squinted and ears closed isn’t going to be swayed by more facts.
Instead, doubt surrenders to experience. And experience can only happen if there’s enrollment.
If someone is willing to find the right answer, willing to explore what might be effective, what might be confirmable, then enrolling in the journey to ease doubt opens the door to personal experience. Which, magically, can let the light in.
Experience, working it out, touching it, studying it, repeatedly asking why with an open mind… these experiences engage us, earn our attention and gain our trust.
Doubt comes from fear, which is why it’s so difficult to earn enrollment. People don’t want to commit to working their way out of doubt, because doubt is a perverse variation of perceived safety, a paralysis in the face of the unknown. Earn enrollment first, a commitment to find a path, then bring on the process and the facts.
There is another side to this.
What if they know the fear and have enrolled in that, but fear the proposed solution. In my experience people fear life insurance products and their agents more than they fear imminent death.
Perhaps the sales folks need a new approach.
There are two obvious approaches.
- Stop selling product. The product is fearfully complicated. Clients should own insurance for what it does, not for what it is. Relate to the need baseline and present the solution as addressing that.
- Put life insurance in context. It is not completely about what it is and does, but rather it is about what having it allows the client to do because he has it. If you owe millions in taxes on death, holding liquid assets against that risk is futile. It can prevent the necessary capitalization of your business. Being without a way to get liquidity in the estate has other risks. Losses on sale being the biggest. Who thinks “Estate Sale” means anything other than expect a bargain.
Insurance is a solution not a problem. Be sure to maintain the approach. It is the problem that has the cost. From then on it is only a question of finding the least costly way to deal with it.
Life insurance is the most efficient way to create liquidity in an estate. What’s that worth?
Don Shaughnessy arranges life insurance for people who understand the value of a life insured estate. He can be reached at The Protectors Group, a large insurance, employee benefits, and investment agency in Peterborough, Ontario. In previous careers, he has been a partner in a large international public accounting firm, CEO of a software start-up, a partner in an energy management system importer, and briefly in the restaurant business.
Please be in touch if I can help you. firstname.lastname@example.org 866-285-7772