Guiding clients to care for what’s priceless

For many of us, the COVID-19 pandemic reminded us of life’s fragility as well as what’s valuable and priceless. For some, this caused them to review many aspects of their lives, including their career, finances and life’s purpose. When our clients go through this reevaluation, as financial advisors we can show our value by guiding them in achieving what’s important to them.

I tell my clients that while what they own and their achievements are valuable, they’re not priceless. What has no price is their health, family and legacy. What they own, however, can be used to care for what’s priceless.

The value of planned giving

I explain to my clients that even when they are no longer here, they can provide for the financial care of their loved ones as well as benefit their community. With a charitable planned giving program, for example, they can leave a legacy to their favorite charitable foundation. Then they can multiply donations with a charitable planned giving program by paying only 1%–2% as their life insurance premium. For example, by putting aside a $1,000 premium per year with a charitable planned giving program, their donation increases to $100,000. They may then appoint a charitable organization or church as the beneficiary of these policies.

The joy of giving

This is the joy of giving for both my clients and me. I feel joy knowing that many lives may benefit from this charitable planned giving program. My clients also appreciate knowing they made a difference, and they’re happy that I’m their financial advisor. Clients have told me, “This is amazing. You created a special policy for the foundation. I was never thinking about that.” Or clients have shared, “This year I could not travel for a holiday due to a pandemic. I’d like to allocate my holiday budget to create a legacy to the nonprofit organization that I work with.”

What we offer clients is not solely a product, but the experience of feeling the joy of giving through charitable planned giving programs.

Miliana Marten, of Jakarta, Indonesia, is a Top of the Table member and has been an MDRT member since 2010. Marten also discusses this topic in “The joy of giving,”  her 2021 MDRT Annual MeetingVirtual Event presentation. You can also read her article in the November/December 2021 issue of Round the Table.