11/07/2024
True Stories from an Insurance guy
I had a potential client that was a 48 years old man, good health with a wife and 2 children. He reached out to me to looking for mortgage protection. As we had a conversation I asked him why this coverage was important to him and why was he looking into it. He responded that he didn't have any coverage in place and he was the only earner in his family. He didn't want his wife to be in trouble financially if something were to happen to him. So him and I went through his options to narrow down what he felt would fit his budget and give him the piece of mind he was searching for. His mortgage was right around $250,000 so we looked at $250,000 in coverage as well as $500,000 in coverage, that way his wife could replace his income for a while and still pay all of their other bills. He was leaning towards the $500,000. It fit his budget and would give his wife enough protection to pay the house off as well as replace his income for a while until she gets back on her feet if anything were to happen to him. Even though he knew he wanted the coverage and it fit his budget, he had to “think about it”. There was no changing his mind so we decided to set an appointment the following week to do the application.
The client didn’t show up to our scheduled second meeting. Over the next 6 weeks I would either call, text or a combination of both about every other day. I don’t mind if you don’t want the coverage or if you decided to go with someone else. I just don’t want anyone to not have coverage because I didn’t do my job and get in touch with them. So about 6 weeks later, it was a Saturday morning that I will never forget. Finally after 6 weeks of following up, a lady answered the phone. It was my potential clients wife. I said hello and explained who I was and that I wanted to speak to her husband. With sadness in her voice she told me that her husband had passed away about a week ago. I couldn’t believe what I just heard…this was a 48 year old, healthy guy. (It turned out he had a massive heart attack)
After I apologized for her loss, she asked me, did my husband buy the insurance from you? Before I could answer she told me he said he was going to go with the $500,000 so I could take care of everything if anything were to happen. Unfortunately I had to tell her that although I reached out to him as much as I could over the past 6 weeks since we first met, I could never get in touch with him to get the plan put in place. As I heard her breakdown on the other end of the phone, she started telling me she was going to lose everything they worked for. She had no income and because she was a stay at home mom for the past 20 + years, it was going to be difficult to even find someone to give her a job with no experience. I felt helpless and terrible for her. Not only did she lose her husband, she is slowly going to lose everything they have built together over the years.
This true story could have been a completely different ending if the client had purchased the plan to protect his family. Yes, his wife would have still had to go through the loss of her husband, however she would have had time to heal without the instant financial burden. The reality is, I have many clients that have pushed off getting coverage and they lived to get insurance later in life, but it’s a huge gamble. We all know we will die one day, however we don’t have a crystal ball to tell us when or how we will go. It is so important no matter what your age, health or situation may be, get coverage on yourself. Protect the people you love so that this story doesn’t end up being yours. Tomorrow is not promised for any of us.
Live in love and gratitude,
Jason Kurtz
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