Existing Policies

today, i realized the importance of finding out what your client has existing before proposing a policy to them.

it's probably a common event in my line where a potential sale doesn't go through; i managed to follow up with something else, but that's besides the point.

i believe that i need to find out as much as i can about my potential client in order to propose a plan that:

1. suits his needs
2. fits his budget
3. gives him adequate coverage in the 5 different aspects

in order to do that, we have to meet up a number of times before an actual plan is formulated. sounds troublesome? well, not as troublesome as planning something that ends up being useless, or worse yet, IMPLEMENTING such a policy.

for example, if you were to buy a friend a present, you wouldn't want to buy your friend the exact same present that someone else is going to right? i mean you CAN, but it would be nicer to get your friend something else he doesn't have.

knowing what you have existing in your insurance portfolio is just as crucial as knowing what you need to buy. and for me as an agent, it's one of the tougher aspects to master, especially when there are people who can't remember what they have, who don't have a current servicing agent, or even those that have policies that their parents have bought for them that they don't even know about!

perseverence and sincere enquiry is the best way to go about it though. I just hope that this enlightens those of you out there who think that after buying the insurance policy, they can just forget about it - the only thing left to worry about is paying the premiums on time.