Not Meant As Fear Mongering
We're sometimes accused of always carrying around a wet blanket just so we can throw it on everyone's party (and keeping a spare one in our car "just in case"). Perhaps an occupational hazard of being in the risk business is that you start to think of the "what-ifs" and the "maybes" for almost everything. Just looking at a few stories on this blog may convince some advisors to never check back because it freaks them out.
We tend to look at it from a very positive angle, however. Perhaps because insurance is never needed during the most fun times in life, most people use words like "have to", "necessity", "expensive", "irritating", "scary" to describe the insurance analysis, acquisition, and claim experiences. But when you think about what the insurance contract does for someone in exchange for a small expense in relation to the total risk exposure, having the right insurance portfolio in place is actually LIBERATING!
Having insurance shouldn't make anyone less careful or concerned, but in the same way that you give comfort to clients by addressed their investment risk tolerance, providing them with the right insurance portfolio that addresses their risk exposure frees up concern and other resources which allows them to live a good life! Ignorance is not bliss. Knowing what to do and why to do it is bliss.
The accounts that we post here in this blog are not meant to be alarming, but are examples of how important attention and diligence are when having your clients' insurance portfolios reviewed. Having the ability to identify what is unaccounted for in a client's insurance portfolio and then having the experience to actually go get what is needed should be a minimum requirement for anyone touching your client's insurance affairs. If your insurance advisor can't prove to you that they know the smallest details of their contracts and the way they are affected by the real world, then to us THAT is alarming!
Mechelsen, Inc. Darren McGraw, MBA, CIC mechelseninc.com
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