Insurance | FJG/FYI
If Possibilities Become Realities
by Chris Sheahan
When an Insurance Broker consults with a client about a policy, the product they’re actually discussing is protection. It’s true that life really does happen while we’re making other plans. Insurance is the financial shield that protects our loved ones, our businesses and ourselves from those unexpected curves.
We realize we could get sick, have an accident, be disabled or die suddenly but we believe the odds are on our side. We protect ourselves physically by eating right, exercising and looking before we leap. We protect ourselves financially through insurance – medical, disability, life.
I believe an active, ongoing client/broker relationship is essential to ensure that clients have policy plans keyed to their individual lives. Medical insurance is the most likely candidate for frequent use, especially by families with young children. Depending on the insured’s occupation, disability insurance could be used, but the likelihood is generally low. Life insurance tends to be viewed as a long-term need; most of us prefer not to dwell on its use in the short-term.
Unfortunately, exceptions do happen, and this is why maintaining a good broker/client relationship is vital. I’ve worked with a client, now a friend, for many years. Three years ago he was diagnosed with a virulent form of skin cancer. His medical insurance is essential and we review it each year, sometimes changing plans in anticipation of his future needs. He went “on claim” two years ago, collecting tax-free income from his disability income policy. Sadly, he’s told me using his life insurance policies could become a reality for his family sooner than later. Fortunately, because my client and I worked together to plan for the possibility of these unforeseen circumstances, he and his family are not facing issues of financial security as well as issues of health.
When my client and I first talked about his policy plan, we considered the possibilities. Some of those possibilities became reality for him and because we planned well he is secure knowing that his financial needs will be met. At Fleischer Jacobs Group we understand that a client’s financial peace of mind depends as much on the client/broker relationship we’ve developed as it does on the policies we’ve put in place.