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Life Insurance Conversation with My Dentist

Written by Aaron Pinkston, Fri, Dec 04 2009

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Yesterday I went to the dentist. Normally, a trip to the dentist isn’t a post-worthy occasion, but she started to ask what I do for a living. She could have been making small talk, or maybe it was the t-shirt and jeans worn by an adult wielding two cell phones.

It turns out she and her husband have been looking for life insurance for a little bit now. Because she asked, I explained how the business works. She was interested in how it could help them in their search for the right life insurance policy.

She’s gotten quotes from two agents so far, which is great. As she began an attempt at describing the differences in the policies and the wild price swings, I noticed something different.

Here is a confident, intelligent, sociable lady who has had more schooling than I ever had, and she was confused. In her attempt to explain the quotes she has gotten, she uncovered more parts that didn’t make sense to her.

Questions. Questions.

If I wasn’t a good listener, I might have felt like a target at a shooting range as the conversation continued.

“What is the best life insurance? I mean what type should we buy?”

“The agent suggested $x. Is that too much?”

“One of the term policies cost a lot more than the others because it had an option to buy more coverage. Does that make sense?”

“You always hear to just buy term, but we are looking at a combination of term and some kind of whole life. Or should we just save our money?”

“My husband had x. Will that really affect his rates?”

I think her questions are normal and human. They stem from a desire to make the right decision without missing out on something good or getting ripped off. We all want the best we can get.

A diagnosis for my doctor

I diagnose my doctor with a case of analysis paralysis. But the offender might be the people she is getting quotes from, instead of coming from her and her husband.

The best answer that I have is to focus on your needs. Once you define the job, picking out the right tool is a lot easier.

Imagine the last time you went to the hardware store without a clear list and goal. You probably forgot something, got extra stuff, spent too much time at the store, or spent too much money. Maybe you did all four of these things.

Make a list, define your goals, then and only then look for the right life insurance solution for you. Do it now.

Not only will your life insurance shopping experience be more pleasant, you will be more likely to get what you actually need.