Why you must take care of clients with urgency

By Sanjay Tolani, FLMI, MBA

My best friend got married and had two beautiful kids. One day she called me and said, “Sanjay, my husband has no insurance. Please, can I bring him to you so that you can give him some advice?” When was the last time you had clients calling you and saying, “Hey, please sell me some life insurance”? So she brought her husband to the office. We spent a couple of hours together, identified options and comfort levels and made a decision to buy a policy. Well, we started all the paperwork and had things moving. The husband said he would go home and send the check to my office. After he went home, he called me and said, “Sanjay, my checkbook is empty, and I am traveling tomorrow for 10 days. By then, my new checkbook will be here. Would it be OK to send the check to you when I come back?” “Well,” I said, “I guess that would be fine.”

Unexpected tragedy

After seven days, I got a call from my friend. She said, “Sanjay, we had a car accident. Luckily, both the kids don’t even have a scratch, but my jaw, hands and legs are broken, and my husband is in a coma.” I was speechless. I had nothing to say. She called me the next day and told me her husband had passed away.

I felt so helpless and so weak for a moment. I was only thinking about what I could do to help and protect her and her kids. But the application was incomplete, the money was not with it and I could do nothing. If he had paid me only $320, I would have paid out over $700,000 to his wife and kids.

Moving forward

Today, even at 3 a.m., if that friend were to call me, I would pick up the phone and do anything for her. I still feel so guilty. So when a client tells me, “Let me think about it,” I say, “You have three weeks to decide — no hurry — but let me submit your case.” At least I will not be having the guilt that he liked the advice but we didn’t have enough time to implement it, because none of us knows how much time we really have. We even have a free look period during which we would return 100 percent of the premium. I say, “You have three weeks, so go ask anyone you feel needs to be part of this product — your wife, your family — but if something happened today, I would be guilty.” How many of you are ready to live with this guilt? To date, this guilt has absorbed my thoughts, and I still wonder, What could I have done differently to change the outcome of that event?

We have the power to protect. Please don’t live with this guilt. Forget cold calls — take care of your family and friends first.

Tolani is a 15-year MDRT member from Dubai, United Arab Emirates. Hear more in his 2017 Annual Meeting Focus Session, “The 21st Century Advisor.”

See more from Tolani in his 2014 MDRT Experience presentation “Building a Top of the Table team”

Written by Matt Pais, MDRT Content Specialist