Advisor Today - May/June 2015 - (Page 61)

the lighter side of life By Penny Righthand, CLU, ChFC Serving Our Clients As agents, we are supposed to do our best for the clients we serve. T here was an urgent message in my voicemail at work a couple of weeks ago. "This is Toyota Financial calling. It is urgent that you call us by the end of today," it said. I was about to delete it, thinking it was a marketing call, but then I replayed it and heard the word "financial." Had my monthly payment not gone through? I wondered. I checked my bank record on line and saw that my last payment had cleared. So I forgot about it. Later that afternoon they called me again. "Your lease was up last week, Ms. Righthand," the man said. "What do you intend to do about it?" "What are you talking about?" I said, not altogether pleasantly. "I just bought this car a year or so ago! Wasn't it a five-year lease? It can't be up!" I pulled out my file to find the papers on the car as he continued to insist that I had to make up my mind about what to do. "We're talking about your 2011 Prius, right?" he asked. "2011?" I couldn't believe it had been that long. "You had a three-year lease. It's over now. You have to make a decision." As the papers surfaced in front of me, I realized he was right. "Oh my gosh!" I was slightly more contrite this time. "You are right! I don't know where the time has gone! What do I have to do? What are my options? And how much time do I have?" Looking back Three years looking forward is much longer than three years looking backward. That is even true for 20 years. When I came into this business, having been a squirrely kid, I had never done anything for longer than 10 years. I had never held a job, a marriage, or a kid for more than that. I made a commitment to myself to stay in Her options were more expensive than the cost of permanent insurance would have been for her at 50. the business for 20 years. When I did that, it felt vaguely like what I imagined a lifetime prison sentence without parole would feel like. Of course the perks were much better. But still, 20 years sounded like a long time. Now I'm entering my 28th year. I'm not sure what happened to year 20. I must have blinked. But 28 years ago, I sold a 50-yearold woman a 20-year term policy. She wanted to leave something for her children, she'd said, because she didn't have a lot of money to leave them. If this were an algebra problem, I'd ask you to guess how old she was when my phone rang. And you'd be correct. My phone rang on her 70th birthday. "What happened to my life insurance?" she asked in a not-too-happy voice. For some reason, I remember every detail of appointments I've had from the very beginning of my career. I can tell you the conversations, the location, the clothes we both wore. So I reminded her that she had chosen to buy a 20-year term policy because the permanent insurance was too expensive. And the 20 years were now up. "Twenty years?" she said. "It can't be 20 years already!" she objected. But we both knew it was true. I don't know how she confirmed it, but I glanced in the mirror near my desk. Twenty years had gone by in the blink of an eye. "What do I have to do now?" she wanted to know. "What are my options?" We looked at her options, and even if her health had been perfect, which it wasn't, they were all too expensive. And they were all more expensive than the cost of permanent insurance would have been for her at 50. I felt terrible! But not as bad as she did, I'm sure. I was luckier with my car options than she was with her insurance options. All I had to do was pay more. My insurability and my age didn't matter to Toyota Financial. But we life insurance professionals, who are supposed to do what's best for our clients, ought to consider those issues when we sign someone up for 20- or 30-year term. After all, tempus fugit. And term ends. Peggy Righthand, CLU, ChFC, lives in the San Francisco area and is a member of NAIFA-Alameda County. Contact her at May/June 2015 | ADVISOR TODAY 61

Table of Contents for the Digital Edition of Advisor Today - May/June 2015

From the Editor
New Products
Investing with Purpose
Ascending to Greatness
DI Insurance Saves a Family—Twice
Hack-Proof Your Social Media Site
A Unique Asset That Is Often Overlooked
How I Sell Whole Life
When Being Wrong Is Right
Selling Life Insurance Today
Retirement Planning for Today’s Boomers
Repotting Your Career
NAIFA Government Relations
After the Sale
Marketing to Millennials
How to Win the Hispanic Market
In Step with a Winner
Work for Free—and Make Lots of Money Doing It!
Creating a Center of Influence
Lighter Side
Advertiser Index
Back Page

Advisor Today - May/June 2015