It was 1988. I was going door to door selling life insurance policies. A few months into the business I had to deliver my first death claim check. The check was to a mother who had just lost her 7-year-old son in a drive-by shooting. The death claim check I was delivering was for $10,000. When I arrived at her home, she said, “Mr. Shane, please come in. Thank you for being such a great insurance man and for coming by each month to collect the premiums to make sure I kept my policies paid.”

We sat, we talked, we cried, and we reminisced over her son’s life. Then she said something to me that changed my life forever. She said, “Mr. Shane, thank you for delivering this $10,000 life insurance check. You see, Mr. Shane, this check allows me to keep my dignity. I will not have to ask my friends, my family or my church to give my son the decency he deserves. Once again, thank you, Mr. Shane, for allowing me to keep my dignity!”

It was from that point on that I understood the importance of what we do in the insurance profession. We don’t just sell life insurance, long-term care insurance, disability insurance, health insurance, auto insurance, home insurance or even financial services. What we do is provide people with dignity when it matters most. As I help my clients understand the difference between financial planning and quality of Life Planning, dignity not insurance is what I have focused on for the last 30 years of my career.

Quality of Life Planning focuses on four key components:

1. What if I live?
2. What if I linger?
3. What if I leave?
4. What is my legacy?

We focus on helping clients take the “IF” out of life so that they can live.

• “What if I live?” This is about longevity planning and having the money you need to live the life you want to live with dignity until the day you die.
• “What if I linger?” This is about providing proper coverage if you become sick, hurt or disabled. Can you get the quality of care you desire to keep your dignity?
• “What if I leave?” This is about the two big D’s: death and divorce. Will your assets transfer as you desire to those you care about? Will you be able to keep your dignity, even after you pass?
• “What is my legacy?” We all leave one by default or design. How would you like to leave yours? Will you leave money to your children, grandchildren or charities, or will you create a foundation to be remembered?

Focus on quality of life planning and dignity as opposed to selling products. This allows you to set yourself apart. To be effective, find your “why,” build your marketing plan, implement your plan and articulate your “why” effectively.

Setting yourself apart

Set yourself apart, and you will not need to ask for referrals. We all need referrals in order to have success. We all want people to refer us. When you begin to provide dignity and stop selling products, people will refer family and friends to you. Quality of life planning is more than just financial planning; it brings in a comprehensive holistic approach, needs-based conversations, storytelling and resources. Bring value-added services to the client. For example, we provide our clients an emergency kit that allows them to keep all their medical information in one place in the event of an emergency. We provide them medical information cards to keep in the car so that first responders will have access to their medical background in an emergency. We provide them online storage files for archiving photos, legal documents and meaningful memories. We help them write “Family Love Letters” with meaning and purpose to leave for those they love. We help them create a lifelong legacy to be remembered by both family and the community, through planned giving and lifelong checks.

Understanding your “why”

Understand your “why” with a passion. Why do you believe in this profession? What drives you every day? I share that my “why” is to provide dignity, not just insurance or investments. Find your “why” and your passion, and then you will not work another day, but you will enjoy bringing that passion and “why” to others. Once you know your “why,” you need to package it to share with others so that they get your “why” and can tell others for you. This will bring people to you. In turn, you will no longer be asking for referrals but accepting referrals and doing business with people who understand and relate with your “why.”

Marketing ideas

These are marketing ideas that you can take away and use today. Some things are so old, they are new again. For instance, vinyl record players, once considered outdated technology, are making a comeback in the modern music scene. The same is true in our industry. We still do client events but with a new twist. We still do radio shows and educational workshops but with a new twist. We use social media, community events and marketing ideas that are engaging. What are some other old but new ideas? Here are a few ideas you could implement immediately:

• Valentine’s dinner for all the widows or single women in your book of business
• Wine tasting paired with a “geek squad” session on protecting your identity on your phone, laptop or social media
• Martial arts demo class that teaches how to protect and defend yourself if attacked
• Book club that meets each month to discuss a financial book such as “Smart Women Finish Rich,” “Rich Dad Poor Dad” or “Smart Couples Finish Rich.”
• Divorce seminar highlighting strategies individuals can use to cope with their new lifestyle legally, emotionally and financially
• High school senior night, which teaches financial basics like balancing a checkbook, interest rates and car insurance and then provides a photo session with a professional photographer for a senior photo

Words matter

Words matter, so rephrase for maximum impact. For example, instead of asking, “What do you want to do when you retire?” I now ask, “What do you want to do when you no longer want or need to work every day?” Leading clients to envision their ideal scenario is much more impactful than simply asking about retirement.

• We ask, “What does dignity mean to you?” instead of “Why do you want to invest for retirement?”
• We say “protection against the unexpected” instead of “insurance.”
• I no longer say “free.” I now say “at my expense” so that there is implied value in what we offer.

A question I found helpful when meeting with clients the first time is “How well did your parents save for their later years?” Then I ask, “What did you learn from them about saving for the later years so that they could provide for themselves, good or bad?” These questions will give insight into how they feel about money and saving for themselves.

Shane E. Westhoelter, AEP, CLU, is a nine-year MDRT member with three Court of the Table and five Top of the Table qualifications who runs a national firm with more than 200 offices. A past board member of organizations like NAIFA, the National Association of Estate Planners and Councils and the Society of Financial Service Professionals, Westhoelter works with NFL alumni and active players, as well as families who live on Main Street.