10 Ways to Screw Up


You spend your time building relationships, meeting new clients and asking for referred leads.  The most accurate reading of your successes is not only your production numbers–it is knowing that you have planned correctly with your clients and set things up so that, when benefits are paid out, they are done as the client wanted.  Insurance money, for example, actually ends up in the hands of the correct people in the most advantageous way.  It is imperative that you have a planned, regular meeting with your clients to review BENEFICIARY DESIGNATIONS.  Not only is such a meeting an easy way for you to connect with clients, it can provide much needed attention to an often overlooked issue.  We have all heard the horror stories of ex-spouses receiving money meant for children of a second marriage, large estates being depleted due to unnecessary taxes, money being held by the courts for minor children and so on.   The article that is attached below is one of the best I have ever read–pointing out the errors that must be avoided when setting up life insurance beneficiaries.  Click below to read:

10 ways to screw up when picking life insurance beneficiaries

Within the article, there is even a link to celebrity beneficiary mistakes for the stories that bring home the importance of planning (click on “forget to do so” within the article)

In today’s times of “just email it to me”, a review of your clients’ beneficiaries gives you the opportunity to have a real conversation and thus keep the door open for future sales and referrals.  Getting a client in the first round is the most difficult process–once they are your client, it can be easy to keep them by staying in touch.

Pat Joline, CLU, ChFC