It’s natural for a client to put things off; there always seems to be more time until there is no time. It’s up to you as the advisor to keep things moving toward completion. Here’s a recent case that started out like most, but in the end came down to a matter of weeks before the client found out he was completely uninsurable, meaning the case would be lost completely.
Situation: The case started out like most. In September 2016 a financial representative called a DBS Case Design Analyst seeking product options for a client who wanted to purchase a hybrid life long-term care policy. After discussing options and looking at the pricing the financial advisor decided to propose a John Hancock policy. The client liked the option and an application was submitted in December.
Problem: Most clients think that if they have enough cash they can buy all the life insurance they want. That’s not true. Health buys it, money just pays for it.
Solution: The DBS Underwriting Team jumped into action and received a Preferred Best offer from the carrier in January. However, the client got busy and a couple weeks of delay turned into months. Was the client having buyer’s remorse?
As the months passed the financial advisor repeatedly attempted to place the case, but the client continued to put off its delivery. Finally, in April, the advisor completed the delivery requirements. Approximately, two weeks later after a routine exam the client was diagnosed with prostate cancer and is now completely uninsurable.
Result: It’s natural for a client to put things off. There always seems to be more time until there is no time. Health can change on a dime. If it had not been for the financial representative’s vigilance the client would not have the insurance that he has today.