Facts of Life Insurance – Are You Asking The Right Questions?
How’s your health? The typical client response is “Just fine.” If an insurance agent is asking a client about their health the same way they would ask about weekend plans or the the weather then the problem really lies with the question asked not the response. Of course, if you ask me that question I’m going to give that kind of response. 99% of clients do. What the client thinks and what the insurance company thinks could be completely separate.
More Specific Questions:
1. What prescription medications are you taking?
This will lead you into discovering what health issues the client may have whether its diabetes, high cholesterol, or anxiety.
2. Have you had any visits to the hospital?
This might lead you to discover chest pains or surgeries.
3. Did either of your parents pass away before age 70?
If the answer is no you can stop there. If it is yes then the follow up is what was the cause of death? Be mindful this could be a delicate subject matter.
4. Height and Weight.
This may be more evident when sitting across from someone but, not when you are speaking over the phone.
We need to know what your mortality risk is to the insurance company to get the best pricing. The same risk class might be relatively inexpensive at one company but, expensive at another carrier. We aim to dig in further to better assess the client’s situation so they can make the best, most informed decision possible.
On the other end of the spectrum we also coach clients to simply answer the question the way it is asked. No more no less. Some clients like to spill about issues that may not have an impact on their underwriting or present information that their doctor didn’t diagnose them with at the time.
Have you been scuba diving in the last 5 years? Well, I remember going 6 years ago. Then simply answer no.
What prescription medications are you taking? The last time I met with my doctor he said my blood pressure was….. Again the answer is no. As far as the insurance company is concerned you aren’t taking blood pressure medication.
We don’t ask the information to be nosy or invasive. The more we know the better we can steer you to the right insurance company for your needs.
Enjoy our video….