Life insurance is the only industry that takes the risk out of life.

As professionals in this business, it’s critical that we all pause for a moment to digest that statement.  The notion is absolutely fundamental, especially at a time when our customers are painfully aware of the need for protection. This shift in risk awareness is unprecedented, and it’s creating enormous opportunities for us. 

The question is, are we seizing these opportunities? Are we talking—really talking—to our clients about the ways in which life insurance can help ensure that their children and grandchildren can enjoy the same lifestyle they’ve had?

It would be tough to find someone out there who’s unaware of the cost of both the recession and economic recovery. Today’s financial landscape is littered with depleted retirement and savings accounts, heightened fears and significant setbacks. And yet, at Transamerica Life and Protection Brokerage Group, we’re up year-over year, insuring the financial security of Americans. In this economy, it’s clear that families are focused on minimizing the uncertainty of the future.

You probably recall the days when clients—especially those in the mass-affluent category—were focused on how they could pass their wealth to their children and grandchildren. Now, with their assets greatly diminished and the economy struggling toward recovery, these same individuals are no longer in a position to focus so much of their energy—and their resources—on future generations.

The realization that these future generations will inherit a colossal national debt and face an uphill battle just to have the same opportunities enjoyed by the previous generation is devastating to many parents and grandparents.

They’re staring at their portfolios, wondering how they can take care of themselves and still be able to provide some level of support to their families. There are solid life insurance strategies that can help them do just that. Question is, are we talking to our clients about them?

Today, more than ever, people want—and need—solutions with long term guarantees. They also want flexibility in design, not to mention control of the outcome. As luck would have it, those three ingredients—guarantees, flexibility and control—are the key elements of life insurance. Because of this, I think now is a great time to be in the life insurance business. I don’t have patience for those who are focused on the negative. What I see are extraordinary opportunities for people in our business to offer exactly what these clients want and need. They’re looking for our help.

Successful brokers all share one quality: They are customer-centric. They know how to gauge the marketplace, have a strong grasp for what their clients are looking for, and understand what keeps them up at night. This is the time to bring to bear all of your knowledge and expertise, to identify risks and uncover needs that clients aren’t even aware of, and to provide what has become very elusive—some peace of mind when it comes to planning for the future.

I’ll say it again: As life insurance professionals, we can take the risk out of life. It’s a privilege to be in this position, but with that privilege comes great responsibility. Are you asking the right questions of your clients? Go ahead, dig deep. In doing so, you’ll achieve so much—for our industry, for yourself and your business and, most importantly, for your clients. [JMF]

Reprinted from BROKER WORLD January 2011  Used with permission from Insurance Publications

Transamerica Life & Protection Brokerage Group

James Martin “Marty” Flewellen President



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