Where have you been (the start). Where are you at (progress). Where do you want to be (the goal)?
These are three points that are necessary to measure literally anything. One of those points is fixed – where you have been. The other two are moveable and based upon the choices that you make.
Some would argue that the “where you want to be” position is static, but you can always adjust that at any time. Maybe a radical adjustment or a slight nudge, but the goal is still the goal.
Regardless, I am holding that most goals are more of a range than a finite spot.
Of course, as planners, the goal is always important. Without one, we have no direction and cannot adequately devise a strategy and the underlying tactics to accomplish that goal.
So, let me ask a simple question.
When you are working with your clients and are developing their plan, do you tell them their goal or do they tell you?
Of course, 99.9% of us will respond that our clients establish their goals and that it is our responsibility to help them achieve them. Afterall, it is what we do – help their dream become reality.
And, we measure their progress using the above criteria – where they’ve been, where they stand relative to their goal, and what that goal is. We should agree on this.
Let me ask another question.
Do you deploy both growth / accumulation tactics and protection tactics?
Be honest with yourself and me.
Do you protect your clients from an untimely interruption to their plan?
If you’re thinking death, you are partially right. What I am really referring to is disability during their earning years and a long term care event during their non-earning years of retirement.
Let me frame things this way – death is a certainty – the only question is when will it happen. Disability & LTC events can be equally, if not more catastrophic than death.
Then why is it that we overlook, disregard, dismiss, and downplay the actual risks associated with a “living claim” event?
Is it the ostrich approach where you bury your head in the sand?
Is it a statistical thing where you believe that the likelihood of an event occurring is insignificant.
Is it that the cost associated with an event is small beans and can be absorbed by their plans?
Or, is it that discussing such the issue and potential impact to their plans and lives makes you uncomfortable?
If you’re being honest – you’ll likely say it is the last one – your fear of being uncomfortable.
Let me share with you this opinion. You don’t need to be an expert. You just have to have a conversation and gather a little information.
You don’t need to barrage them with statistics. You need to ask them what their plan is when they require care, who they expect to help them, where they want to receive care, and whether their wishes have been written down and communicated to their family?
That is a simple conversation. Nowhere in that conversation is anything technical – it’s just a conversation about how they want things to play out.
The important thing is you want to them to think about their goal and consider the consequences that might accompany it.
Have the plan conversation and you will be proving a tremendous benefit to both your clients and yourself.
At OneAmerica Financial, we provide several tools that can help you have that initial conversation.
Step by Step Guide to Receiving Long Term Care (consumer approved)
Care Planning Worksheet (consumer approved)
Also, if you are interested in offering consumer workshops in-person or virtually, give me a shout and we can discuss how we can help in your efforts.
Need assistance quickly?
If you are with an IMO, BGA, FMO, a OneAmerica PPGA, or part of the OneAmerica career agency network – contact Justin Fox at (844) 658-3725 or justinfox.isp@oneamerica.com .
If you are an agent who submits business via BGA, FMO, or IMO – Nick Angelov at (844) 623-4251 or nick.angelov.isp@oneamerica.com
Fridays with Fisher 